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timber1956

7,423 Posts.

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18/10/14

22:55

Post #: 14145197
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Originally posted by All4One ↑

RBA owned by the Banks

Its an interesting notion though, not one I truly believe but it makes sense since the only organisation they seem to serve is the Big four Banks. Like I said Im not one to believe it is actually owned by the Banks and Petes friend may just have been speaking metaphorically that the banks tend to force the RBA into rate decisions that are in their benefit. Having said that there are plenty of articles around the U.S. press that categorically deny the U.S. Fed is privately owned but it is and it has shares. The only people who have those shares are the owners and under the US Feds rules those shares cannot be bought or sold but only passed on as an asset in an estate. The U.S. Fed has a board that is picked and put in place by the US President so the whole thing is just criminal in my opinion and does not serve the needs or wants of the people.

I prefer to believe and hope that our RBA is still owned by the people even if it does serve the Banks.

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"RBA owned by the Banks" LOL

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

Where is the evidence that the RBA sets rates to benefit Australian banks? If that was true, the RBA cash rate would be at 0.25% (rather than 2.5%).
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