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"In November 1997 the then Treasurer, Peter Costello, shocked...

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moorookamick

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18/11/20

09:45

Post #: 48949852
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Originally posted by moorookamick: ↑

During the Regan/Thatcher era (Neo-Liberalism) while we were aping the US & the UK by selling out our State Owned Enterprises while China was doing the opposite. Costello even flogged our Gold Reserved at sub $300/oz.

Did we do the rigt think?
Your call!

The proceeds of these sales were morphed into the Future Fund to provide lifelong pensions for Millionaire Pollies and the Millionaire top
end of the Civil Service.

How better could this money have be spent in Nation Building?

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"In November 1997 the then Treasurer, Peter Costello, shocked some people when he announced he'd signed off on the sale of $2 billion worth of Australian bullion. On the day he announced the sale the price was around $US306. 00 an ounce." (Source: ABC)

That would be worth over $12 billion now.
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