Newstopia explains the Reserve Bank

UPDATE 2009-01-13: 50,000 views! Thanks to everyone for their contributions.

UPDATE: The day this video got picked up by a couple of blogs in the USA and Canada was, coincidentally enough, my birthday. I can't give enough thanks to everyone who has enjoyed the video so far. Spread the word!

"Shaun Micallef" (Shaun Micallef) and "Tony Froth" (Nicholas Bell) explain the role of the Reserve Bank of Australia and how to control inflation.

This was taken from the TV show "Newstopia" (Season 2, Episode 3, aired 12 March 2008). I'm uploading this to celebrate the launch of the third season of the show. This is one of my favourite moments from the second season.

I don't own the copyright to this - it belongs to the Australian TV channel, SBS. That said, there is plenty of Newstopia material on YouTube already, including an incomplete version of this material. In any case, I personally think the show deserves all the publicity it can get.

Visit the show's official website: http://www.sbs.com.au/newstopia

Category:

Comedy

Tags:

• newstopia
• sbs
• shaun
• micallef
• nicholas
• bell
• reserve
• bank
• inflation
• satire

[krzyyysiek]

what does he say in 0:58.... it's about putting things on uneven .... what? %$^@#4?

[AaronGNielsen]

@krzyyysiek "Putting things on an even keel" - that is, keeping things calm and balanced. In the clip, the balance is between high and low interest rates, between encouraging savings and encouraging spending on new investments.

[newperm]

not a freemarket because reserve m=bank is interfering...so it's not capitalism, it's a sham!

[AaronGNielsen]

@newperm It's free-market capitalism for those who need socialist welfare, and socialist welfare for those who need free-market capitalism.

[mlevi2538]

intresting..

mlevi2538@gmail.com

[RussMaxable]

@Mccnuget No you have it all wrong, the idea od having something tied to gold is so ventral banks can't create to much credit and create too much money that willbe put into corrupt hands because you can have hyper inflation, the money can become worthless and half in value or more.Just like the U.S in the least few year's.The aussie dollar use to be 70 cents U.S now it is 1.10 and rising.That is because of inflation(which actually mean's creation of money as in inflat the money supply)

[FrankFisticuffs]

like this if you laughed at his "i wasted my life" face at the end

[oldereb38]

The Fed obtained $8.4 trillion last year from the auction of Treasury securities---OFF OF THE BOOKS--without Congress and the public being aware of it !!!! The Ponzi scheme Fed does not even report the income as they confiscate the wealth of the people and inflict perpetual indebtedness and national bankruptcy. Search the mathematical inevitability at RIP OFF BY THE FEDERAL RESERVE or 3W scribd dot com, message 48194264 

[ajuk1]

That was awesome.

[nanopope]

He says keel, it stabilises boats. On an even keel means keeping everyithing balanced.

[iannetta11]

END THE FED.

[OzTrackDays]

This would be funny except ...... it is 100% true The RBA is an invention to keep you poor - and that is all it is. Good night and thank you Sean.