Australia should ban gold exports and buy annual production itself at market price. Take it out of global circulation and specifically deny it ending up in China. Yep, wouldn't they love that. Give them the bird. At least for a few years.
If we are to end up in $ trillion debt may as well spend some of it on something of lasting value.
Replace all the sovereign gold reserves Treasurer Peter Costello sold at $250 per ounce when he had his head up Brown's Bottom.
