That’s it! I hereby call on the government to immediately privatise the Reserve Bank. The Reserve Bank is nothing more than a grubby little profit-making enterprise which MUST be flogged off so the private sector can enjoy the profits that come from such a risky activity, the business of buying money.
The Reserve Bank’s profit of $8.8 billion is far in excess of anything it has ever made in its 50-year history…In order to ”break this dynamic”, it bought $3.8 billion of Australian dollars on foreign exchange markets, helping drive the price up towards its present 87 US cents.
RBA’s $6 billion gift to Swan.
