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.

If the Reserve Bank of Australia is publicly owned and publicly controlled by the Australian federal government on behalf of Australian citizens, then any debt that the Australian federal government owes the Reserve Bank of Australia is not legitimate because it therefore owes this debt to itself by virtue of its public ownership and public control of the Reserve Bank of Australia, releasing the Australian federal government from any obligation to make interest payments on this debt or principal repayments of it.

I believe that the Reserve Bank of Australia is privately owned and privately controlled by the Rothschilds, which is why the Australian federal government is currently making interest payments to the Reserve Bank of Australia out of Australian federal government taxation revenue on the debt that it owes to the Reserve Bank of Australia.

However, there is no legitimate reason why the Reserve Bank of Australia should be privately owned and privately controlled by the Rothschilds, since it should obviously be publicly owned and publicly controlled by the Australian federal government on behalf of Australian citizens.

If the Reserve Bank of Australia is, in fact, privately owned and privately controlled by the Rothschilds, then the Australian federal government should default on any debt that it owes the Reserve Bank of Australia by refusing to make interest payments on it or principal repayments of it.

By eliminating debt that the Australia federal government owes to the Reserve Bank of Australia, the Australian federal government debt can be reduced by at least one third to $657 billion and possibly much less if the Australian federal government currently owes much more than one third of its debt to the Reserve Bank of Australia.

This will result in a corresponding reduction in the amount of interest that the Australian federal government is obligated to pay on its Australian federal government debt, as well as a reduction in the amount of principal that it is obligated to repay, so that the current immense pressure on the Australian federal budget as a result of these interest payments and principal repayments out of Australian federal government taxation revenue can be substantially relieved.