Move over Greece

I'm just copy and pasting from the RBA's website. Is that official enough for you?

http://www.rba.gov.au/qa/role.html#own

"1. What is the Reserve Bank of Australia and who owns it?
The Reserve Bank of Australia is Australia's central bank. Its role is set out in the Reserve Bank Act 1959. The Bank conducts the nation's monetary policy and issues its currency. It seeks to foster financial system stability and promotes the safety and efficiency of the payments system. It also offers banking services to government. The Bank is a body corporate wholly owned by the Commonwealth of Australia."

So, yea, the ALP used the profits of the RBA to prop up its budget against the express advice of the RBA itself.

 

The Bank is a body corporate wholly owned by the Commonwealth of Australia.

The Commonwealth of Australia is term or phrase, and a term and phrase cannot own a company or organisation.

What living entities within the Commonwealth of Australia own the RBA?

 

I’m not trying to be disingenuous with anyone, nor do I have any hidden agendas.

I want to know the factual origins of the RBA.

I believe it’s a foreign owned entity, but everyone keeps telling me its owned by Australia without producing any evidence.

Note Printing Australia was a wholly owned subsidiary of the RBA, and was corporatised by the RBA in 1998.

http://en.wikipedia.org/wiki/Note_Printing_Australia

Corporatise meant to convert a controlled industry or enterprise into an independent one.

The Bank (RBA) sold its shareholding in Securency in February 2013.

If the Australia and the Australian people own the RBA, what profits did Australia and the Australian receive form the RBA selling their shareholding in Sevurency in February 2013?

I didn’t read anything in the RBA reports to suggest Australia or the Australian people received any profits for this sale.

http://www.rba.gov.au/media-releases/2013/mr-13-02-inde-review.html

 

Commonwealth of Australia is the official name for the country of Australia. It is staffed like any other company and operates under the Reserve Bank Act 1959. Its profits seem to be available to the government of Australia, as shown by the ALP ignoring the RBA boss to keeps its profits within the RBA a couple of years ago but instead the ALP used about half of its profit to fillup its budget holes. Just go read the RBA website as it shows the management team and board of directors. Airservices Australia is another government owned corporation and is "is self-funded and controlled by a Board of Directors, accountable to the Australian Parliament, through the Minister" operating under a legislated role. I assume the RBA operates much the same sort of way, given what the RBA website says.

 

And the prize for the stupidist comment fo the day is.....

He claims to be Australian yet has no idea that the country is called 'Commonwealth of Australia'

 

At the very beginning the Treasurer did, which was Keating. However, shortly after the government Floated the Australian Dollar to be valued at market demand from the global community when he also floated the interest rates to be determined by an independent group who was not answerable to the government alone. Only due to the pressure of the people and the fact the group who has the figure on the pulse of the nation was declared independent.
You do realise that the RBA really does not set the interest rates??? If you really have been following current interest rates, you would notice banks set their own interest rates. The RBA sets official interest rates that they can gain from foreign banks, while the banks can set their own by whatever means necessary to them.

 

Thank you

 

F@ck but CullDav is one ignoramus.

Trying to claim the RBA is not whole owned by the Australian state based on some pointless equivocation concerning the word' Commonwealth' shows he is either a apthetic troll or seriously mentally deficient.

 

Ah someone else has figured it out.