ANALYSIS: It's the last taboo in central banking. So will the RBA review look at how money is created?
"I want to make it very clear that monetary financing of fiscal policy is not an option under consideration in Australia, nor does it need to be," he said in July 2020.
It says politicians should be forced to borrow the money they need to cover their extra spending plans because it will enforce some discipline on them."It is said that government could not be safely entrusted with the power of issuing paper money; that it would most certainly abuse it,""There would, I confess, be great danger of this, if government — that is to say, the ministers — were themselves to be entrusted with the power of issuing paper money.
"I propose also to prevent all intercourse between these commissioners and ministers, by forbidding every species of money transaction between them. The commissioners should never, on any pretence, lend money to government, nor be in the slightest degree under its control or influence.
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