example of damage which rba can cause, page-26

interesting thread. I happen to agree with those who think the RBA is not our friend. Not only is it doing the king canute thing (he stood in front of the rising tide, I think, and ordered it back down, before he drowned)but its insisting that we all drown with it. RBA can dampen demand by raising prices, but inflation does the same thing - up to the point where we all, companies and individuals, demand higher income to allow us to maintain our standard of living. So the RBA just takes money ot of our pockets so we can't buy as much, even though the tide of inflation continues to rise, and so we all start to think snorkels (higher wages,higher profits).

We need something, someone, a bit wiser at the helm. Reserve banks all around the world have been increasing liquidity (inflation)over the past 25 years or more because its good for bank profits and government coffers (for wars and stuff), but now that its out of control it is insisting that we all pay for its mistake - and will soon be insisting that we also pay for any bank that goes under, if the US Fed is any guide. The RBA is just another bank after all, and that means its just another burden on society.