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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