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Capitalist USA versus Socialist Norway (Read 10660 times)
Mattyfisk
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Re: Capitalist USA versus Socialist Norway
Reply #120 - May 28th, 2020 at 11:40pm
 
Richdude wrote on May 28th, 2020 at 11:27pm:
Mattyfisk wrote on May 28th, 2020 at 10:32pm:
Richdude wrote on May 28th, 2020 at 10:12pm:
Bias_2012 wrote on May 28th, 2020 at 1:05am:
Mattyfisk wrote on May 28th, 2020 at 12:11am:
Oh Rich, the RBA was founded in 1960 by Bob Menzies.



There you go again Karnal, spruiking off trying to deceive.

It wouldn't have mattered who the prime minister was, the private banks were breathing down the necks of any government to set up a central bank because they didn't like how Treasury was handling money, so they said. They got their way in the end and the RBA was instituted. Treasury and the Libs and Labs should have told the private banks to bugger off


Thanks Bias!

The RBA was set up to control the money supply. Like all central banks throughout the World. The BIS in Switzerland is the central bank to the Worlds central banks. The RBA is a franchise. Controls the interest rates and fractional reserve ratio. Issues currency to gov in exchange for bonds.

Good business to be in.


Indeed. So, are you able to explain what the central purpose of the RBA is? You'd know because you're really into employment and everything.

We're all ears, Rich. Over to you, dear.


A central bank was one of "10 planks" of Karl Marx's Communist Manifesto. I thought you would know that - its your bible! More correctly titled "How does a low life useless grub steal from the productive class".

But you know that!


I know, I checked. So can you explain why our colony down here established one?

It's a really easy answer. If you don't know, dear, just say.
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