Wednesday, 9 July 2014

Time to Kill the Reserve Bank of Australia

The Reserve Bank of Australia is Privately Owned
Wake Up Australia
The Commonwealth should no longer borrow money from any party, and all future budget deficits should be forbidden. The Australian Treasury should operate on a cash accounting basis only.
The RBA should be restructured as a government department responsible to the Australian Treasury, and its current duties (apart from monetary policy) should remain intact, i.e. being responsible for printing/issuing the paper currency and coins, payment and settlement systems, and netting contracts.
That gold and silver coin should be accepted as legal tender –concurrent with that of the national currency. Individuals should be free to choose whichever form of legal tender (i.e. Australian dollar, or gold and silver) for their commercial and personal transactions. That a limited period of grace should be provided to banks and the RBA to enable them to adjust their systems and business practices for the elimination of both fractional reserve banking and the monetisation of debt....http://www.nationallibertyparty.com.au/.../monetary-policy/
Our Monetary Policy | National Liberty Party
www.nationallibertyparty.com.au
Photo: The Commonwealth should no longer borrow money from any party, and all future budget deficits should be forbidden. The Australian Treasury should operate on a cash accounting basis only.
The RBA should be restructured as a government department responsible to the Australian Treasury, and its current duties (apart from monetary policy) should remain intact, i.e. being responsible for printing/issuing the paper currency and coins, payment and settlement systems, and netting contracts.
That gold and silver coin should be accepted as legal tender –concurrent with that of the national currency. Individuals should be free to choose whichever form of legal tender (i.e. Australian dollar, or gold and silver) for their commercial and personal transactions. That a limited period of grace should be provided to banks and the RBA to enable them to adjust their systems and business practices for the elimination of both fractional reserve banking and the monetisation of debt....http://www.nationallibertyparty.com.au/.../monetary-policy/
Our Monetary Policy | National Liberty Party
www.nationallibertyparty.com.au
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