"The decision to sell the reserves was approved by then RBA...

"The decision to sell the reserves was approved by then RBA governor Ian Macfarlane and then treasurer Peter Costello."

Costello didn't have the ticker or financial knowledge to say NO.

He's at the future fund , so lock up anything there that could be sold !
Better still .. lock him in a rubber room so he can't harm anyone else again.

Liberal party taxes and disasters;

GST
Ansett levy
Timor levy
Sugar levy
Gun buy back levy
Medicare levy
Milk levy

Sale of Telstra
Sale of Gold

(sale of medicare next time in..)