Reserve Bank of Australia

[Penny Lane]

Hi, I am new to your site and have been researching the Federal Reserve Bank. It seems that the Australian system is much like the American one, except it states on the website that it is owned by the Australian government. Does anyone have any information that says it might be actually private like the US Fed? I'd highly doubt that the RBA is public, as we have the same inflation woes as the rest of the world, and seem to get very little in return for our tax dollars. Also why would the international bankers leave any stone unturned when it comes to leaching off an economy? I read somewhere on the internet that it is owned by the "Clearing House" but there was no reference to back up that statement. Can anyone help me out?

[wulfgar60]

The RBA is government owned, as are most Central Banks around the world. The Fed is a curious aberation in this regard, as a private non profit organization. It can give to charity!!!
However the RBA board includes powerful private individuals. In effect an element of insider trading is in process.
All profits go to the Federal government of Australia. If the government borrows money from the RBA, the interest payments become government profit anyway.
A recent change in the RBA's open market operations. Is the direct purchase of Bank Bills and CD's. I smell monster inflation in the wings!

[kiwiguy]

Hey Guys,

I had been wondering the same sorts of things about the New Zealand reserve bank as well. Isnt the Bank of England privately owned (partly by the royal family) as well?

I was wondering if the reserve banks of the commonwealth countries somehow have some ties back to England and the Royal family. Its a tough subject to research as most of the information on fractional reserve banking is about the US and England. If anyone has info on New Zealand , AUstralia's reserve banks (such as ownership) would be quite interested in it

Cheers...