The central bank of Australia on Wednesday made the astonishing admission that it is, basically, bust. Its entire equity has been wiped out by pandemic-related bond buying.
Of course, the Reserve Bank of Australia is a central bank, and can print money. So it can work its way out of a situation that would bankrupt a conventional bank or company.
https://realmoney.thestreet.com/investi ... t-16103021
Economics has changed a lot since I studied it. Whatever the problem, just print some more money
