Australia doomed: debt ceiling raised $200b, central bank given $8.8b


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Australia doomed: debt ceiling raised $200b, central bank given $8.8bFederal Treasurer Joe Hockey

Australian Federal Treasurer Joe Hockey

The Federal Government has given the Reserve Bank of Australia a $8.8 billion one-off grant to help it manage future economic crises.

The money will be added to a fund used to offset the central bank’s exposure to risky financial assets.

Federal Treasurer Joe Hockey says Australia’s economy continues to grow, but financial instability in the United States presents serious risks for global growth.

He says there is a looming threat of another debt-ceiling stand off in the United States.

“[The] United States has not resolved its structural issues,” he said.

“They’ve kicked the can along the road, closer to the mid-term elections. I don’t see a way forward out of that.

“And we’re not going to allow Australia to become in anyway as vulnerable as the United States and other jurisdictions may be over…

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About kristalklear

Masters in Computer Science. Studies in Journalism and Law Enforcement, 56, married, black, living in south western Ohio
This entry was posted in AUSTRALIA, Financial Crisis, World Issues. Bookmark the permalink.

4 Responses to Australia doomed: debt ceiling raised $200b, central bank given $8.8b

  1. Thanks Crystal. This was an unexpected and I think unprecedented action.
    It therefore triggers a warning bell and may have considerable significance.
    What is also curious is the resulting confusion, at least in my mind, about who controls the RBA.
    It was supposed to be a privately controlled organization, yet in this context, is a part of the government’s interests.

  2. kristalklear says:

    Me thinks the central banks around the world are connected 🙂

    • Hi Crystal. I haven’t looked into this aspect in detail, but the central banks seem to feature significantly in the NWO controlling group. Reasonable to assume they are connected.
      Also noteworthy is that the countries being attacked by the West in the name of democracy, regime change or some other cooked up excuses, have independent banks. (Syria and Iran).
      Regards, Ken.

    • This post tell us a great deal!
      Global Power Project: Central Bankers & the Institute of International Finance- Part 3 – See more at: http://www.boilingfrogspost.com/2013/10/31/global-power-project-central-bankers-the-institute-of-international-finance-part-3/#sthash.NKjL13Ri.dpuf

      “The Complex & Incestuous Relationship Between Private Banks & Central Banks

      In Part 1 of the Global Power Project exposé on the Institute of International Finance, I examined the origins and evolution of an organization representing the interests of global banks.
      In Part 2, I looked at the role played by the IIF and its leadership during the European debt crisis. In this third and final part in the series, I examine the relationship between the IIF and global central bankers.”

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