Tag: Senate

The Senate And Central Bank Secrecy…

A second grab from Senate Estimates today as Senator Rennick sought information relating to the Bank for International Settlements and Central Banks.

Time for transparency!

The latest edition of our finance and property news digest with a distinctively Australian flavour.

Go to the Walk The World Universe at https://walktheworld.com.au/

The Senate And RBA On The TFF..

The RBA was in Senate estimates today and a good range of important topics was discussed. First off the rank is Senator Rennick talking about the Term Funding Facility (TFF) where Tax-Payer money is subsidizing bank profit.

Given the world have changed dramatically since the TFF was launched, this inequitable scheme should be closed out, along the lines of the ECB.

Kudos to Senator Rennick for tabling the issue.

More RBA shorts coming ahead!

The latest edition of our finance and property news digest with a distinctively Australian flavour.

Go to the Walk The World Universe at https://walktheworld.com.au/

The Homebuilder Blow-Out Fiasco!

The Homebuilder programme was discussed in Senate Economics Legislation Committee today and revealed that the original budget of around $680 million blew out to over $2.7 billion dollars, and that it was responsible for helping to push up the costs across the construction industry. In addition, renovations were a large part of the exercise, wtih few controls on what could be renovated, Sounds like massive waste of taxpayer money.

Go to the Walk The World Universe at https://walktheworld.com.au/

Superannuation: Trick Or Treat?

The Superannuation system is not fit for purpose, as many are finding out as balances decline, while fees do not but forced contributions increase. So today we look at data provided by APRA on fund performance (down more than 4% in the quarter to June 2022, and further now). And we feature an important contribution from Senator Gerard Rennick who addressed The Senate last week on this important issue.

Go to the Walk The World Universe at https://walktheworld.com.au/

The RBA Is To Check On Australia’s Gold (Well Sort Of!)

A senior Reserve Bank official is about to jet off on an all-expense taxpayer-funded trip to London to check that Australia’s 80 tonnes of gold bullion is still in the Bank of England’s vaults, the AFR says.

News of the impending departure was made during Senate estimates on Wednesday night and comes after a campaign by renegade LNP Senator Gerard Rennick who has long-held concerns that Australia is being dudded and the nation’s gold holdings are not where they should be.

Senator Rennick’s concerns stem from a “strictly confidential” RBA memo supplied to parliament, which states that “the existence of fake gold bars has been detected, in the past, by the presence of duplicate serial numbers”.

The Bank of England holds about 6400 bars on behalf of the RBA, worth about $6 billion. They sit alongside another 400,000 bars in special vaults used for centuries.

See my earlier show with John Adams on the subject: https://youtu.be/oa-PNCykb-8

Go to the Walk The World Universe at https://walktheworld.com.au/

A Sterling Opportunity To Clean Out Corruption

I discuss the latest on the ASIC inquiry relating to Sterling First with Robbie Barwick from the Citizens party.

Senate Economics References Committee inquiry Sterling Income Trust website:
https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/SterlingIncomeTrust

Citizens Party membership page:
https://shop.citizensparty.org.au/collections/memberships/products/party-membership

Go to the Walk The World Universe at https://walktheworld.com.au/