by Belle Carter, Natural News:
The Reserve Bank of Australia (RBA) went bust, reporting wiped-out reserves and huge bond losses.
The Land Down Under’s central bank revealed its wiped-out equity, thanks to bond purchases driven by the Wuhan coronavirus (COVID-19) pandemic. These purchases sought to support economic activity during the lockdown periods.
During a Sept. 21 speech in Sydney, RBA Deputy Governor Michelle Bullock revealed that the central bank’s moves caused an accounting loss of 36.7 billion Australian dollars ($23.49 billion). This RBA with negative equity amounting to A$12.94 billion ($7.94 billion) and rendered it unable to pay government dividends for some time.