Central bankers meet secretly in Sydney


It has come to my attention from a usually unreliable source that the secret meeting of central bankers convened in Sydney for today and tomorrow has come together to discuss my blog.  Apparently, most central banks consider that my assertion that we’re having this GFC because tax systems around the world have for too long been slaughtering wage and salary earners and rewarding real estate speculators is valid.

My source, who shall remain nameless, believes that the final paragraph of the letter calling the meeting posed the question:  “If Kavanagh is correct that finance, insurance and real estate is not the hub of the economic universe as we had previously thought, and if we are to end issues involving sovereign debt, then maybe tax systems do need be altered to send the right signals?”

Were this most unreliable rumour found to be true, the central bankers’ Sydney initiative would deserve international support.

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