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

**Raj_Copi_Jin** · 01-12-2008, 12:57 AM

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?

No, I don't have a link for you. My search skills are not very good. However, what I am saying isn't hidden knowledge. The federal reserve, bank of england and others are not owned by the governments either.
You should be able to guess who owns them.

01-12-2008, 12:57 AM	#9
Raj_Copi_Jin Join Date Oct 2005 Age 48 Posts 4,533 Senior Member	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? No, I don't have a link for you. My search skills are not very good. However, what I am saying isn't hidden knowledge. The federal reserve, bank of england and others are not owned by the governments either. You should be able to guess who owns them.
	Quote