The portion of the Australian federal government debt owed to the Reserve Bank of Australia is not legitimate debt.

By Andrew Mackinnon

The Australian federal government debt is currently around $985 billion, resulting in the Australian federal government making interest payments on it out of Australian federal government taxation revenue amounting to a maximum of around $50 billion per year, placing immense pressure on the Australian federal budget. At some point, principal repayments must also be made out of taxation revenue.

I believe that at least one third of this Australian federal government debt and possibly much more is owed to the Reserve Bank of Australia and is therefore not legitimate debt that obligates the Australian federal government to make interest payments on it or principal repayments of it. Read more...

What do you get when the Australian Treasurer is a traitor?

By Andrew Mackinnon

Q: What do you get when the Australian Treasurer, John Howard, for more than 5 years from 19th November, 1977 to 11th March, 1983, holds no qualifications in economics but holds a Bachelor of Law from the University of Sydney in New South Wales? Read more...