Conflict of Interest?

David Farrar thinks it is the stuff of conspiracy theories, but until David Shearer comes clean on just how much he has stashed in his secret offshore bank account.

David Shearer and his mates in the Greens have some kooky ideas to try to bring down the exchange rate, like firing up the money printing presses.

Given that we now know about his secret offshore bank account, David Shearer has a bit of a vested interest in driving down the Kiwi dollar to deliver bigger profits on his currency speculation.

Here are some quick calculations based on the ANZ cash rate at 10.30am today – 0.8678 

US$50,000  at .8678 = NZ$57,617. At .7678 = $NZ65,122. On a 10 cent drop in the rate Shearer has made NZ$7505.

US$100,000 at .8678 = NZ$115,234. At .7678 = $NZ130,243. On a 10 cent drop in the rate Shearer has made NZ$15,009.

US$150,000 at .8678 = NZ$172,851. At .7678 = $NZ195,364. On a 10 cent drop in the rate Shearer has made NZ$22,513.

US$500,000 at .8678 = NZ$576,170. At .7678 = $NZ651,212. On a 10 cent drop in the rate Shearer has made NZ$75,042.

US$1million at .8678 = NZ$1,152,340. At .7678 = $NZ1,302,423. On a 10 cent drop in the rate Shearer has made NZ$150,083

Depending on how much is stashed away, David Shearer has a vested interest in talking down the exchange rate. Labour have made much of John key’s former job as a currency speculator…now it appears that their own leader likes to dabble in the world of currency, arbitrage, offshore accounts and foreign bankers.

The only thing now is to match up his public statements calling on the government to lower the exchange rate.

The Green Taliban are helping him with his nest egg too by alleging Cyprus like banking arrangements in their bid to talk down the NZ economy, banking sector and exchange rate.

Maybe Russel Norman also has an undeclared offshore account.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.