Operation Damp Squib…

The released terms of reference for the review of the RBA are limited, and specifically excludes APRA – thus credit creation, and omits reference to the Council of Financial Regulators, the peak influential body, which includes RBA, APRA, ASIC and Treasury.

Thus while the focus on the board, culture, and objectives are laudable, the terms of reference are clearly architected to avoid some of the most fundamental issues. A major opportunity lost, neo-liberalism wins again…

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Written by Walk The World


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  1. I suppose they need the enquiry to change the rules they haven't destroyed the purchasing power of the currency quick enough yet to bring in all the digital surveillance carbon credit electronic jail system

  2. Pity a decision to copy some successful central bank's processes can't be made. It would save time and money but it seems there are no successful central banks to copy. Perhaps central banks are the problem. Can't see a review suggesting RBA's abolition though – there's so much vested interest in maintaining it.

  3. I bet they won't look into the RBA's gold reserves that are supposedly safely stored at the BoE! Are they really there? If we ask for them back will they comply? Also transport it home on Australian Royal Navy Ship please!

  4. I wouldn't even give Dr Charmers a score for his performance. The fundamental problem is the Electors (the true Australian Government) who are the Australian public were not asked to participate in this review of the RBA. Instead, you got a bunch of overseas people who would hijack the agenda of the review so much as to ensure that the Central Bank will have the freedom to do what it likes at the expense of the poor to middle class because they all work closely with the global banking cartel who supports the World Economic Forum's mantra quote "You will own nothing and be happy."

  5. All government departments do this and continue to get a pat on the back for crap work. They pay ex QCs to write a glowing report with a few changes thrown in. $1.2mil thank you see you next year. DET, Police, Transport and public services NSW.

    5/10 Is generous Martin. I have read these reports over the past 25years and are whitewashed through a 5min sound bite.

  6. Yes the RBA has inappropriately made comments regarding a number of hot topics but I cannot help but consider them as a loose guide given RBA’s poor history. Even I could see that rates should have risen October/November last year and therefore made my own decisions. Too many are sheep and should be doing there own homework instead of blaming others for taking out that million dollar loan. As for Jim C, I’m sure he’s stuck between a rock and a hard place and has to tippy toe around the issue. My first impression of Jim is that he’s less of a used car salesman like Josh was.

  7. They entire monetary system is very old, in the past much of what bureaucrats do, was done by the workings of the markets.
    Markets are not anything but the combined wisdom of several billion folk.
    It is utter folly to think that a relative handful of 'experts' know how the conglomerate functions, and can pull levers and twist data points, to get the economies of the world to 'work'.
    It the same as having a very few commanding a centralised system, it never ever has worked, and cannot do so.
    The entire system must be left alone to operate of its own volition, like a pod of whales in the ocean.
    Who would direct the whales?
    Only meddlesome duffers.
    And that's what we have!

  8. Richard Werner should be reviewing the RBA…let’s be honest it’s pointless will be a self serving white wash…I doubt the people doing the review even understand what money is 🤷‍♂️

  9. You can do all the reviews you want, implementing is a different story, ie the Henry review, nothing will happen as usual, it's the illusion that something is happening thats most important to politicians

  10. Yep Martin, but it's a Start and maybe Other Countries will Review their Central Banks Performances, as well….Australia did well before the RBA was Instituted in 1959, when it had The Commonwealth Bank Of Australia, owned by The Govt since 1911…Former PM Harold Holt had a lot to do with getting The RBA up and running, when he was Treasurer in The Menzies Govt in 1958. Australia's Economy has been on a Roller Coaster since 1959, with The RBA Controlling the Cash Rate….Cheers from Damo.😊

  11. Surprise, surprise, another economic labor puppet who has been ordered to keep the Australian population in an ever tightening tax chokehold. They want us in eternal debt to the BIS

  12. Labor is concern about defending the asset bubble because if property prices fall significantly (as they need to address societal and economic structural issues), labor gets blamed and become a one term government.

  13. The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich

  14. Governments don't want interest rate rises because it hurts them in the polls. Labor is particularly sensitive because the Libs campaign on the garbage mantra that "interest rates are higher under Labor". Other governments around the world have outright demanded that interest rates not be raised, or where they have control themselves (e.g. Turkey), they haven't. I'm pretty sure that's what this is about

  15. Hi Martin. A while ago, if recall correctly, an Australian representative was sent to London to confirm Australia’s gold tonnes held there. Was there ever any feedback given to the public about the “investigation”?

  16. So many smart and gifted people in aussie…but they are overwhelmed by all the dumber aussies who want to keep building buildings!!!
    Look at em! They cry…progress!!!

    10-20 years down the track so many will be unliveable and knocked down for safety.

    But the pollies love to see physical, tangible, despite all other facts about human life and how to better it..

    Build it !!!! And they will come!!!
    Yeah, nah, who will come?

  17. Even a brain dead low life Lowe knows artificial low interest rates and QE funny money printing is the root cause of inflation!
    Add in bad government policies and we have this trifecta.

  18. 10 out of 10 if you consider the role of the federal government (Labor or Libs) in Australia's housing ponzi is to appear to be doing something about runaway house prices while actually doing nothing.

  19. Unless ANY enquiry does not include the importance of monetary policy and the external account – then it is a FRAUD! The whole mandate of the RBA in only looking at inflation as a limiting factor for m oney supply is total BS and has resulted in the sell-off of almost every important industry to interests. How is that good policy?

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