Idiotic policy denies rational thought

摘要

It was, they said, a relic of the past and had no place in the wired world of the 21st Century. Those who made such statements and thought such things were fools then, and are fools now. They failed to understand history and human psychology and it is worth reminding them of this today. Why, for example, did then Federal Treasurer Peter Costello in 1997 consent to the Reserve Bank selling off the vast bulk of its gold holdings?