You are here

Australian comics satirize the smug failure of central banking

Section: Daily Dispatches

12:16a ET Thursday, March 12, 2020

Dear Friend of GATA and Gold:

From time to time it has seemed good to call attention to the 2008 segment of the unfortunately short-lived Australian news parody program "Newstopia" that satirized the Reserve Bank of Australia. The skit brilliantly suggests how central banking fails the public interest.

The skit features comedian Shawn Micallef as a television news anchor interviewing the actor Nicholas Bell, who plays the secretary of the Reserve Bank of Australia, "Tony Froth," and who smugly explains the central bank's manipulation of interest rates to control incomes, production, and prices in the name of keeping the national economy "on an even keel," rigging everything in the name of maintaining "the beauty of a free market."

... Dispatch continues below ...


Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

Micallef becomes skeptical, replying: "Doesn't that put me in the same position -- either I have more money to buy expensive things, or less money to buy the same things when they're cheaper?"

GATA does not advocate returning to some form of the gold standard. Rather GATA wants central banks out of the gold market entirely and forced to be completely transparent with their market activities, which probably would induce the world to return to gold in less than a week. But in light of the worsening turmoil in the world financial system under central banking and the ever more extreme and undemocratic interventions of central banks, adherents of central banking well might be asked how returning to a gold standard could be any worse.

Unfortunately little is being done to obtain accountability from central banks even in nominally democratic countries.

The "Newstopia" skit is not quite 3 1/2 minutes long, is headlined "'Newstopia' Explains the Reserve Bank," and is posted at You Tube here:


CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

Buyers can compose their case by choosing as many as four varietals from the list here:

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: