CALLING ALL MORAN WORKERS: World Record for the Longest Thread in History!
Maybe we can get a Coffee Party?


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(09-23-2022, 08:16 AM)FritzyRitz Wrote:
(09-23-2022, 05:18 AM)Pipkunts Wrote: In case the Moran workers missed it.

Australia's Central Bank Says It Is Bust

After the Australian fiscal year ended in June, the Reserve Bank of Australia marked its bond holdings to market - wiping out all its reserves.
  
I didn't know anything about this so I looked it up. 

According to Reuters, "equity had been wiped out by losses suffered on pandemic-era bond buying, but its ability to create money meant it was not insolvent and would continue as normal."

So the bank can just "create money" out of thin air? Appardent so since the Big Bankster whose name is Bullock (interesting....) kinda gives the impression that it's no big deal, because -- they are a bank, after all....

Bullock noted that while this would bankrupt a normal commercial entity, the RBA's liabilities are guaranteed by the government.

"Furthermore, since it has the ability to create money, the Bank can continue to meet its obligations as they become due and so it is not insolvent," said Bullock.

So, as I understand it, the bank got in financial trouble cuz of the scare virus, but the government will bail them out and back all of the money they "create." But the government won't bail out all the Aussies who suffered losses during the scare virus cuz why? They need you to pay the taxes so they can cover the bank's "creation."  Am I right about this?

Story here so you can see for yourselves: https://www.reuters.com/world/asia-pacif...022-09-21/

 
Spot on FR. Except it's Aus Reserve, like your Fed Reserve.
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(09-23-2022, 08:27 AM)FritzyRitz Wrote: Maybe we can get a Coffee Party?


Mmm beer!
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I have a cold :(

so if I'm mia
thats why
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(09-23-2022, 02:44 PM)Goldilocks Wrote: I have a cold :(

so if I'm mia
thats why

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Get well soon @Goldilocks    Hugs
Let your light so shine before men, that they may see your good works, and glorify your Father which is in Heaven.  ~ Matthew 5:16 

Pray without ceasing.  Pray for our Constitutional Republic!  Pray for President Trump!  
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@Goldilocks is sniffling and I'm going away for a few ....

@Aquarius it's up to you to represent the female moran contingent!  Cheer
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