The Governor and other senior officials of the Reserve Bank of Australia (RBA) appeared before the House of Representatives Standing Committee on Economics yesterday (August 20, 2014), as part of the review by the Government of the 2013 RBA Annual Report. The Governor and the RBA Board are, ultimately, creatures of the political process, being appointed by the Government, which tells you that all the guff about central bank independence is just a smokescreen. Further, the insights that the RBA officials provided to the Economics Committee should leave no-one in doubt that the Federal government’s fiscal strategy is a failed vision for the prosperity of our nation.