Our leaders (past and present) again making great decisions - well done! for those who dont know... http://www.money-au.com.au/finance-news/category/australian-economy/ GM
that's a classic, in other words what ever the Federal Reserve does do the opposite, good find mate :lol:
"The central bank's justification for reducing its gold reserves so drastically was that gold represented a poor investment, and Australia had successfully integrated itself into global financial markets, and that it need not worry about access to those markets during a financial crisis.", smooth sailing
Yes "The Greatest Treasurer of our time" ~ Peter Costello (and thats what he would tell you) "I should have been Prime Minister" would be another one :0p "Wheres the Gold Pete?...YOU IDIOT!?" that would have been a handy 5 billion we could have had in the reserves...
if you study ancient history - and i mean ANCIENT history you may find that the obsession with gold is fundamental in our human history and there are those elite families/bloodlines with very strong ties to acquiring it
i dont know about their quantum drives but gold broken down to its monoatomic form has allegedly remarkable properties including room temperature superconductivity according to some researchers makes for quite a story .......
Those reserves are central banks reserves not really australian governments is it? Cause they are privately owned company, so if thats the case why does it say cost the country, shouldnt it say cost the company or cost the bank
I dont believe that the australian reserve bank is private in the same way as the US federal reserve is.
Conspiracy theorists think that RBA is privately owned but actually it's not... it's funded by the government but it's not a government department. Unlike the Fed which is a cartel of the biggest investment banks such as JPMorgan and so on...
since the reserve bank is independent of the government can it not then sell of whatever it wants and leave the country in abig mess if the governor is wanting to do that, as he can claim its good for economy blah blah blah like bernanke
How would that be different if it was controlled by the government? It could still do whatever it wants and leave the country in a big mess and claim it was good for the economy...
They answer to the parliament in Canberra. If they screw things up on purpose they'll be stuffed In theory they could screw up on purpose and f us all up but a new board is elected every few years so unlike Alan Greenspan and Bernanke, our folks up there in the RBA don't last that long and it probably won't be beneficial to them to screw us all up. Also I believe there are other departments which monitor the RBA such as the Dept Finance and Deregulation and generally government departments in Australia get audited a fair bit so it SHOULD be safe.