AUSTRALIA’S CENTRAL BANK SAYS IT IS BUST


834
522 shares, 834 points


AUSTRALIA’S CENTRAL BANK SAYS IT IS BUST


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834
522 shares, 834 points

44 Comments

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  1. Australia’s central bank on Wednesday said its equity had been wiped out by losses suffered on pandemic-era bond buying, but its ability to create money meant it was not insolvent and would continue as normal.

    Negative 12 billion dollars, but don’t worry, the government will look after them and they can just print more money.

    Great fiscal policy there. People can’t even afford a place to rent and the central bank can get wiped out and continue as if nothing has happened

  2. ““Furthermore, since it has the ability to create money, the Bank can continue to meet its obligations as they become due and so it is not insolvent,” said Bullo”

    I’m confused™. Can individuals do this as well? I just bought a niiice ink jet printer and need more dollerydoos to pay off my ute.

  3. >”Bullock noted that while this would bankrupt a normal commercial entity, the RBA’s liabilities are guaranteed by the government.”

    Privatized profits, socialized losses

    The game is rigged

  4. Someone Tell me again why I need 10k+ in my bank account( might be even higher now since I last considered the ex pat life) if I want to get a visa to live there when they can’t even manage their own banks

  5. Can I also just create money when I go bankrupt? How will this end if no one ever goes bankrupt again? Total value loss of money? There is no other way

  6. Wow someone just posted on the conspiracy subreddit this morning that there was gonna be a giant bank run in Australia and everyone laughed at the user

  7. No different than here in the US. These pricks will keep doing this until the people are starving. Then the people come for them as they continue to say all is well, we can print more…. Reap the whirlwind “elites”

  8. So um….Is Australia’s Central Bank the equivalent of Bank of America in the US or like the equivalent of the Federal Reserve for the whole country?

  9. OP: do you actually own any GME shares? Have you DRSed?

    I.e. tell me why you are not a forum sliding shill please.