09 February 2015

Central Banking Chronicles Continued - Multimedia Q&A

Q. What is it like to pursue a career as a central banker?  
“A cross between a foreign legion boot-camp and a secret-society initiation ritual, the ordeals were grounded in pain.  One thing was obvious: the agenda, which was dedicated to grave discomfort, had been drawn up by a passionate sadist... quite as unpleasant as wearing a pair of briefs which have been trailed through a Calcutta courtyard...

The pursuit of illusion is not about studying for prizes, or for study's sake. There's no right or wrong, no pass or fail...  

Nothing is what it seems."
Tahir Shah, Sorcerer's Apprentice
Q. What is it exactly that Central Bankers do?  How do they preside over the real economy?
An imperial central banker explains to a simple, honourable man.

Q. Does the Central Bank ever audit their custodial gold bullion vaults in response to another Central Bank's request?

Q. The Central Bank has a broad array of monetary policy tools to use in managing the growth of the real economy. Can you give us one example?

Q. Do Central Banks ever engage in task sharing, or employ consultants or specialists?

The IMF is sometimes used for their expertise in negotiating the terms of sovereign bailout packages.