DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - The Voice

**Drugmachine** · 01-11-2008, 11:50 PM

the Reserve Bank of Australia is NOT ours, it is foreign owned.

Do you have a reference for that statement?

I'm curious as the Reserve Bank Act 1959 states:

Section 11 in effect gives the Treasurer control over RBA policy and section 30 states that all profits apart from those allocated to reserves are remitted to the Commonwealth.

Why would a foreign owned entity remit its profits to the Commonwealth and why would it cede control of policy to the government in the event of disagreement?

01-11-2008, 11:50 PM	#7
Drugmachine Join Date Apr 2006 Posts 4,490 Senior Member	the Reserve Bank of Australia is NOT ours, it is foreign owned. Do you have a reference for that statement? I'm curious as the Reserve Bank Act 1959 states: Section 11 in effect gives the Treasurer control over RBA policy and section 30 states that all profits apart from those allocated to reserves are remitted to the Commonwealth. Why would a foreign owned entity remit its profits to the Commonwealth and why would it cede control of policy to the government in the event of disagreement?
	Quote