Before the conversation had reached that point I had told them that my rates had multiplied by 10 during the time that inflation had only multiplied by 1.54.
They said they were very pleased with the return they were getting on their million-dollar investment in the Council bonds, and one very pointedly said, 'That explains why your rates have gone up.'
In a Ponzi scheme you invest in an outfit that makes glowing promises but is actually in perpetual debt (as is Auckland Council) but you get a very nice return from money constantly being put in by others. This Immigration/Auckland Council setup looks that very like a Ponzi scheme nicely disguised by some creative re-labelling, and, worse, one enforced by Immigration's wickedness.
Auckland Council's webpages for investments shows that security for investors is indeed provided by rates.
And its glowing blurb makes it look as if the money is being invested profitably--e.g., backed by Auckland's contribution to GDP. That is misleading advertising.
This is a scam, this is corruption, all done in the name of the people by a 'democratic' local government entity and enforced by a government department. So much for New Zealand's claim not to be corrupt...