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The AFR is reporting that both Terence Cole, who led the AWB Royal Commission, and the Greens, are calling for a Royal Commision into the RBA. From Cole:
“I suppose you can have another inquiry if you wanted to do that but that’s a matter for government or prosecutors to decide what they want to do, it depends on the accuracy and strength of any material available,” he told the Australian Financial Review.
And the Greens:
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“Most Australians would be shocked to know their central bank was using their money to line up dirty deals with Saddam Hussein,” Greens MP Adam Bandt said Monday.
“The stench surrounding the Reserve Bank gets worse and a full inquiry is needed to clear the air.”
My oath.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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