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Printing money for fools is a ‘great business to be in’ — NZ central bank head
Did the New Zealand Reserve Bank governor just let the cat out of the bag? During a parliamentary committee meeting on Feb. 12, New Zealand Reserve Bank governor Adrian Orr joked about the modern central banking system, which was met with laughter: “It’s a great business to be in, central banking, where you print money and people believe it.” Earlier in the meeting, Orr said the central bank had been faced with several “fiscal challenges” and had received several “letters of expectations” from ministers to be as cost-effective as possible. “We actually fund ourselves and then decide what dividends to ... (full story)