"The central bank of Australia on Wednesday made the astonishing admission that it is, basically, bust. Its entire equity has been wiped out by pandemic-related bond buying".
"The central bank of Australia on Wednesday made the astonishing admission that it is, basically, bust. Its entire equity has been wiped out by pandemic-related bond buying".
The RBA/aus gov paid for the lockdowns back through '20 - '21, by the RBA buying $4b a week of government bonds. Those lockdowns and social stimmies didn't pay for themselves!
You know when you hear about 'money printer go brrrrr' or 'quantitative easing'? That's just fancy-shmancy talk for adding new money to the money supply. We're actually quite lucky to be based in AU, as the US has been a foregone conclusion for decade already, because the essentially have to pay such high interest on the debt their government has occurred, it can never pay it back. That's why you will hear more about crypto and specifically CBDCs becoming mainstream in the coming years, because these currencies will eventually just die. Look at what just happened to the british pound :/
"The central bank of Australia on Wednesday made the astonishing admission that it is, basically, bust. Its entire equity has been wiped out by pandemic-related bond buying".
https://twitter.com/dragonfishy/status/1572953920762433537
And what did you make of this Barry? I saw it but don’t really understand the implications.
The RBA/aus gov paid for the lockdowns back through '20 - '21, by the RBA buying $4b a week of government bonds. Those lockdowns and social stimmies didn't pay for themselves!
You know when you hear about 'money printer go brrrrr' or 'quantitative easing'? That's just fancy-shmancy talk for adding new money to the money supply. We're actually quite lucky to be based in AU, as the US has been a foregone conclusion for decade already, because the essentially have to pay such high interest on the debt their government has occurred, it can never pay it back. That's why you will hear more about crypto and specifically CBDCs becoming mainstream in the coming years, because these currencies will eventually just die. Look at what just happened to the british pound :/