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[amibroker] OT: Not Paper Money Afterall



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The creation of money might be a 'paper exercise' but it is money 
that is real enough in the hands of consumers.

Extract from an article at: 

http://au.blogs.yahoo.com/michael-pascoe/69/good-news-is-bad-news

this week (not a particularly good article but it does show that the 
Australian RBA (The Fed) is quite unequivocal in telling 'us' exactly 
what they intend to do, dependendent on future circumstances, and 
that they do regard a diminishment of wealth 'on paper' as a 
surrogate for interest rate raises).

"......from the RBA's last board meeting. After the quarterly 
statement on monetary policy last week, no-one really expected 
anything particularly new or important in the minutes. How wrong we 
all were.

It came as quite a shock to find that the RBA was within a coin toss 
of lifting rates by 50 points on February 5, rather than 25 points. 
And our central bank as good as promised to lift rates by another 25 
points on March 4 unless the world's financial system (credit market) 
implodes before then, with a further rate hikes on the agenda if we 
(Australians) don't stop enjoying ourselves with higher commodity 
prices, lower unemployment and a rural recovery".

(Of course no one in America would consider 6+% cheap....
and they call us the "Lucky Country").


brian_z




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