the stupidity of the people commenting on this video boggles me. the reason one the reserve is separate is so that it can focus on just controlling inflation - it doesn't have a political motivation to keep them low like politicians.
its obvious no-one here knows anything about economics.
voting on interest rates? why not vote on inflation or how much the economy will grow... wait its because no party can control that.
Have you noticed that on the RBA website it used to say that it was owned by the commonwealth (UK and forign bankers) but in the last few weaks they updated there website to say it is owned by the Austalian Government. We nead to understand who owns the RBA to try to understand why they rip us off the way they do. Why did they change their statement on their website? They are lyers just ripping us off.
RBA last year year slammed us with consecutive interest rate increases that squeezed god knows how many over leverged families out of homes and in to bad debt. simultaneously thousands fixed their rates fearful of a return of the bad ol days of 17%. those that did fix must surely be hurting now its at 3.25%. WTF are the RBA doin???? they are taking us all on a magic carpet ride! and we are going kicking and screaming like it or not. i feel like i'm in the matrix! except for i dont know kung fu.
do you have any understanding of economics? no, the RBA doesn't raise or lower interest rates for the hell of it. it does it to control inflation. we try to keep it below 3% and this creates confidence in our markets internationally so more people are likely to invest in our economy and create more jobs. the RAB's job is a balancing act - keeping interest rates low enough so that people can afford a home and we don't get a recession, but also high enough so that we keep inflation under control.
The reserve banks did a good job at keeping inflation within a target range. Problem is the inflation they chased up (% change in CPI) is the wrong one to worry about. It's only part of the picture and does not take into account the bubbles in assets prices. Now I hope the reserve banks and governments learned the hard way that housing bubbles and credit bubbles in general do need to be addressed before their consequences become apparent in the CPI not after.
the housing bubble was created by decades of idiotic politicians from both sides in america who forced a lot of banks to give cheap home loans to people who couldn't afford them. when fanny may collapsed 50% of the loans it had made were to lower socio-economic classes of people
bullshit aus is about 7 months behind the uk.The aus press is always optomistic no country will escape a big drop in house prices,low interest rates 1st timers grant all designed to prop up a falling economy.Basic problem worldwide houses are too expensive cut prices by 40% then people can afford a shelter
well fuckhead if you have a secure job during a recession then it can be done.Besides house prices need to crash there to fucking expensive and its not one bit fair to expect first home buyers to pay such ridciolous prices for houses.Its completely unaustralian.
Well.... FUCKWIT.... hope you have a secure job you arrogant piece of shit... if you understand what happens in a recession, theres a fcking reason why house prices go to the low..... RETARD.
Didn't the RBA governor just say the other day that the risk of Australia having a recession had diminished? Are these peoples just trying to mislead we the people?
Yeah, and the people of Australia are absolutely fine with this, that a group who they do not vote for can have this control over their mortgages. Funny how the politicians say we need a politically neutral body to manage our money supply and interest rates, as if not being of Liberal or Labor means they have no political agenda. Haha, of course they do, just their own.
the reason why the RBA is independent from politics and we can't vote on it is because we can't vote on whether inflation goes up or down - only the RBA can control this and if you let politicians interfere they'll keep interest rates low to win an election even tho this will fuck up the economy as inflation goes up.
i believe in choosing the leaders who make the decisions in our country, but inflation is not something a politician or any person can control. you can't vote on inflation going down or up - its effected by spending. the only way to control inflation is through interest rates
what you really think people should vote on interest rates?
but hey! lets all be idiots and vote for 0% interest rates! who cares that inflation will go out of control and it will ultimately screw the economy over.
do you know what happened in the 70s when the government had control over inflation? it capped it at about 13.5%. this meant interest rates were not combating inflation and resulted in a number of recessions during the 70s and early 80s. if you really are that keen on keeping interest rates low vote for a party that will do it properly - by not spending as much and getting rid of debt so it doesn't drive up inflation.
i don't know what to say anymore bloody corrupt pricks wearing there suits driving expensive cars and where the ones that have to suffer..what they don't know is this world is a test i hope they all burn in hell period!
The US bailout wont work.700 billion is just scratching the surface, and ultimately will also be swallowed up by the economic black hole.Why ?? Because idiot economists, politicians and merchant bankers have no idea what is really happenning.'Congratulations on sending the world broke' !! Fools.They will end up pissing another 700 billion dollars of mum and dad tax payers money down the drain yet, to save the arse of a swag of pathetic Bankers who will still retire in the Greek Islands .
All is going GREAT - all for the Rothschilds (aka REDSHEILDS) whom bought up 99% of England in 1815 at the stockmarket. That Jewish fellow, the worlds "second richest man", Warren Buffett, the guy that had many LUCKY head CEO's (normally in the WTC building on Tuesdays) with him the morning of 9/11 gearing up for golf, said America was to become "a plowshare nation". Google his quote, then look up what a "plowshare" is. Rudd, Keating, Hawk, Whitlam = "Fabians" aka socialists, aka REDS. Shalom.
A world without money...? Imagine that! Thanks for an excellent catch. Our PM doesn't bother to hide this loyalties at all. Australia - you asked for this guy to carry us into an uncertain terrorism filled world - now what are you going to do to stop his rampage on our freedoms? Interesting to note Glen saying 'possibility' only to replace it with 'probability' a second later, NLP is used against us by these maniacs! Protect the system? Nope - Down with the system!
I say let the whole system collapse,any 'bail-out' is only temporary,the system they are creating is the system designed to put you more into slavery. Let it collapse,stop bargaining with them,it is no bargain. Take your money out first,of course.
shut down the corrupt and privately run central banking system and put the power to coin money back in the hands of government where it belongs instead of in the hands of corrupt international banksters.
The RBA is already printing Billions of $ worth of money.
The American war of Independence was fought because the Bankers in control of the Gold Backed Currency felt threatened by the Fiat Currency, Colonial Scrip the American's were using and Banned it.
A Gold Backed currency will help for a time but will eventually lead us back to a similar conclusion.
I have learned from watching 'The Money Masters' that a silver standard would be much better than a gold. But the real issue is who has the rights to create the money - private banksters or the government. If it is the government then even paper is okay (like colonial script) so long as the money supply is kept constant with the population growth, ie. no expanding and contracting the money supply, and changing the interest on loans.
the stupidity of the people commenting on this video boggles me. the reason one the reserve is separate is so that it can focus on just controlling inflation - it doesn't have a political motivation to keep them low like politicians.
its obvious no-one here knows anything about economics.
voting on interest rates? why not vote on inflation or how much the economy will grow... wait its because no party can control that.
AussiePolitics 1 year ago
Have you noticed that on the RBA website it used to say that it was owned by the commonwealth (UK and forign bankers) but in the last few weaks they updated there website to say it is owned by the Austalian Government. We nead to understand who owns the RBA to try to understand why they rip us off the way they do. Why did they change their statement on their website? They are lyers just ripping us off.
Savehumanrights 2 years ago
RBA last year year slammed us with consecutive interest rate increases that squeezed god knows how many over leverged families out of homes and in to bad debt. simultaneously thousands fixed their rates fearful of a return of the bad ol days of 17%. those that did fix must surely be hurting now its at 3.25%. WTF are the RBA doin???? they are taking us all on a magic carpet ride! and we are going kicking and screaming like it or not. i feel like i'm in the matrix! except for i dont know kung fu.
ThaSilverSurfer 3 years ago
do you have any understanding of economics? no, the RBA doesn't raise or lower interest rates for the hell of it. it does it to control inflation. we try to keep it below 3% and this creates confidence in our markets internationally so more people are likely to invest in our economy and create more jobs. the RAB's job is a balancing act - keeping interest rates low enough so that people can afford a home and we don't get a recession, but also high enough so that we keep inflation under control.
AussiePolitics 1 year ago
The reserve banks did a good job at keeping inflation within a target range. Problem is the inflation they chased up (% change in CPI) is the wrong one to worry about. It's only part of the picture and does not take into account the bubbles in assets prices. Now I hope the reserve banks and governments learned the hard way that housing bubbles and credit bubbles in general do need to be addressed before their consequences become apparent in the CPI not after.
ogogosi 3 years ago
the housing bubble was created by decades of idiotic politicians from both sides in america who forced a lot of banks to give cheap home loans to people who couldn't afford them. when fanny may collapsed 50% of the loans it had made were to lower socio-economic classes of people
AussiePolitics 1 year ago
bullshit aus is about 7 months behind the uk.The aus press is always optomistic no country will escape a big drop in house prices,low interest rates 1st timers grant all designed to prop up a falling economy.Basic problem worldwide houses are too expensive cut prices by 40% then people can afford a shelter
pomplumber 3 years ago
i hope we have a recession so houses are cheaper.
67675656565655656565 3 years ago
and how you gonna pay for these CHEAPER houses when the country is in recession?
DC180 3 years ago
well fuckhead if you have a secure job during a recession then it can be done.Besides house prices need to crash there to fucking expensive and its not one bit fair to expect first home buyers to pay such ridciolous prices for houses.Its completely unaustralian.
67675656565655656565 3 years ago
Well.... FUCKWIT.... hope you have a secure job you arrogant piece of shit... if you understand what happens in a recession, theres a fcking reason why house prices go to the low..... RETARD.
DC180 3 years ago
Didn't the RBA governor just say the other day that the risk of Australia having a recession had diminished? Are these peoples just trying to mislead we the people?
germanicelt 3 years ago 3
unfortunately it's the bankers that control the reserve rates, the govt is powerless.
xavster 3 years ago 2
How true, the Bankers pretty much run the Government now.
SentientSight 3 years ago
Yeah, and the people of Australia are absolutely fine with this, that a group who they do not vote for can have this control over their mortgages. Funny how the politicians say we need a politically neutral body to manage our money supply and interest rates, as if not being of Liberal or Labor means they have no political agenda. Haha, of course they do, just their own.
germanicelt 3 years ago 3
the reason why the RBA is independent from politics and we can't vote on it is because we can't vote on whether inflation goes up or down - only the RBA can control this and if you let politicians interfere they'll keep interest rates low to win an election even tho this will fuck up the economy as inflation goes up.
AussiePolitics 1 year ago
If you believe that, then you don't believe in the electoral process.
germanicelt 1 year ago
i believe in choosing the leaders who make the decisions in our country, but inflation is not something a politician or any person can control. you can't vote on inflation going down or up - its effected by spending. the only way to control inflation is through interest rates
what you really think people should vote on interest rates?
but hey! lets all be idiots and vote for 0% interest rates! who cares that inflation will go out of control and it will ultimately screw the economy over.
AussiePolitics 1 year ago
do you know what happened in the 70s when the government had control over inflation? it capped it at about 13.5%. this meant interest rates were not combating inflation and resulted in a number of recessions during the 70s and early 80s. if you really are that keen on keeping interest rates low vote for a party that will do it properly - by not spending as much and getting rid of debt so it doesn't drive up inflation.
AussiePolitics 1 year ago
i don't know what to say anymore bloody corrupt pricks wearing there suits driving expensive cars and where the ones that have to suffer..what they don't know is this world is a test i hope they all burn in hell period!
oxbadcoded 3 years ago 2
I am sure the lowest pits in hell are reserved for these people who do anything to try and rule the world.
germanicelt 3 years ago
so the last Bilderburger's went well,on schedule
Chillart 3 years ago
The US bailout wont work.700 billion is just scratching the surface, and ultimately will also be swallowed up by the economic black hole.Why ?? Because idiot economists, politicians and merchant bankers have no idea what is really happenning.'Congratulations on sending the world broke' !! Fools.They will end up pissing another 700 billion dollars of mum and dad tax payers money down the drain yet, to save the arse of a swag of pathetic Bankers who will still retire in the Greek Islands .
wernershmidt 3 years ago 3
All is going GREAT - all for the Rothschilds (aka REDSHEILDS) whom bought up 99% of England in 1815 at the stockmarket. That Jewish fellow, the worlds "second richest man", Warren Buffett, the guy that had many LUCKY head CEO's (normally in the WTC building on Tuesdays) with him the morning of 9/11 gearing up for golf, said America was to become "a plowshare nation". Google his quote, then look up what a "plowshare" is. Rudd, Keating, Hawk, Whitlam = "Fabians" aka socialists, aka REDS. Shalom.
australiamatters 3 years ago 3
The Australian PM is obviously another positioned puppet.
countesscristo 3 years ago 4
A world without money...? Imagine that! Thanks for an excellent catch. Our PM doesn't bother to hide this loyalties at all. Australia - you asked for this guy to carry us into an uncertain terrorism filled world - now what are you going to do to stop his rampage on our freedoms? Interesting to note Glen saying 'possibility' only to replace it with 'probability' a second later, NLP is used against us by these maniacs! Protect the system? Nope - Down with the system!
philwarinsky 3 years ago 4
Everything that goes up comes down and everything that goes down comes up.
JamesTheRipper7 3 years ago 3
I say let the whole system collapse,any 'bail-out' is only temporary,the system they are creating is the system designed to put you more into slavery. Let it collapse,stop bargaining with them,it is no bargain. Take your money out first,of course.
countesscristo 3 years ago 6
shut down the corrupt and privately run central banking system and put the power to coin money back in the hands of government where it belongs instead of in the hands of corrupt international banksters.
bingo.
problem solved.
aodscarecrow 3 years ago 15
but govt will just print more money, look at zimbabwe!!
we need a monetary system that cant be PRINTED or created from nothing, WE NEED GOLD BACK!!!!!!
xavster 3 years ago 3
The RBA is already printing Billions of $ worth of money.
The American war of Independence was fought because the Bankers in control of the Gold Backed Currency felt threatened by the Fiat Currency, Colonial Scrip the American's were using and Banned it.
A Gold Backed currency will help for a time but will eventually lead us back to a similar conclusion.
SentientSight 3 years ago
I have learned from watching 'The Money Masters' that a silver standard would be much better than a gold. But the real issue is who has the rights to create the money - private banksters or the government. If it is the government then even paper is okay (like colonial script) so long as the money supply is kept constant with the population growth, ie. no expanding and contracting the money supply, and changing the interest on loans.
germanicelt 3 years ago 3