RBA’s $18,000 dinner before rate rise
RBA’s $18,000 dinner before rate rise
New ABS data shows that a record number of Australians are working more than one job to keep up with surging living costs, with levels of mortgage stress at their highest since 2008.
This article is a typical limited hangout by the media. It directs attention to trivia, albeit scandalous enough. When not actually gaslighting the public with sheer lies and disinformation, the MSM’s job is to misdirect public attention by telling everyone to ”LOOK OVER THERE, NOT OVER HERE”, as this article is doing.
The real crime by the directors and staff of the RBA is their involvement in the pretence that they are a legitimate government organ of the Australian people whereas they are not; they are employees of a private corporation established to deceive Australians into thinking that the RBA and the banks it authorises to pretend to create money out of thin air and to lend that mythical money to Australians at interest, are provide an essential service to the nation. They are not. They are ‘fronting’ for a gigantic, fraudulent EXTORTION RACKET run by Australia’s federal governments and private banks.
See eg: https://ronchapman.substack.com/publish/posts/detail/136059270?referrer=%2Fpublish%2Fposts
Ron
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NCA NewsWire
Mon, 28 August 2023 at 11:03 am AEST·3-min read
The Reserve Bank of Australia is under fire for spending tens of thousands of taxpayer dollars on food and booze while the nation grappled with a worsening cost-of-living crisis.
Freedom of information documents showed the central bank spent $13,700 on food and nearly $4000 on alcohol for board dinner in Hobart, just hours before it increased cash rates for the seventh time.
Guests sipped on glasses of $68-per-bottle Freycinet Louis chardonnay and pinot noir, receipts show.
The RBA then spent $11,400 for a governors’ meeting held at the Lagoon Suite at the beachfront Ramada resort in Vanuatu, held under the theme “Rebuilding Our Economies Post Covid”.
Days after the RBA announced a 3.10 per cent interest rate rise in December, the bank held its annual Christmas party, where guests enjoyed kingfish ceviche, lamb cutlets and potato gnocchi.
Back-and-forth emails show executives considering a photo booth with “funny hats” to “add a bit of variety from the party in August”, a move eventually decided against.
“Seems like everyone is very much back into the swing of things like it is 2019!” an RBA staff member wrote in an email to an organiser.
When asked about the documents on Monday, Environment Minister Tanya Plibersek said public institutions should be “careful” with the way they spend their money.
“One of the changes that Jim Chalmers has proposed to when it comes to the Reserve Bank is that it should be more transparent and should give regular press conferences, for example, to explain the decisions it’s making to Australians,” Ms Plibersek said.
The RBA also attracted backlash in June after reports showed it spent nearly $25,000 on an exclusive 30-person dinner in May after raising the cash rate for the 11th time.
Nationals MP Barnaby Joyce said he had “no problems” with the bank splashing out on lunches and dinners, as long as it was upfront about it.
“If you are spending on a $4000 grog bill and a $13,000 food bill, then make sure you put it out into the papers the next day,” Mr Joyce said on Monday.
“We are not that stupid. They are a professional organisation.”
Australia’s interest rate of 4.1 per cent sits at its highest level since 2012 despite the RBA pausing its regular hikes in August.
New ABS data shows that a record number of Australians are working more than one job to keep up with surging living costs, with levels of mortgage stress at their highest since 2008.
https://au.news.yahoo.com/rba-gobsmacking-act-rate-rise-010300325.html