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Xenophon, you are a dead set idiot

There's been more than enough proof over the years that this South Australian senator is just a headline seeker when it comes to his views against gambling. I admired his stance against pokies (slots/fruit machines in other parts of the world) which are in plague proportions in most of Australia, but his credibility, if he had any left, is seriously undermined when he gets involved in an argument like this.

MP calls for ban on rate-rise betting


Betting on the Reserve Bank's interest rates decision should be banned because it ''invites trouble'' and opens the door to corruption, Independent Nick Xenophon says.

The Age yesterday reported that a stand-off between the Australian Securities and Investments Commission and online betting agency Centrebet, over betting on interest rate rises, had ended.

''Millions of Australians are affected by interest rate movements. It is not a game for families; for many families it can be the difference between paying the bills or not,'' Senator Xenophon told The Age.



Never mind the fact that you might get a bet on for a couple of grand on this market, whereas the impact of rate rise on the banks and the economy at large would be in the tens or hundreds of millions of dollars. Never mind the fact that financial institutions offer facilities to hedge against interest rate changes, effectively the same as betting on it with a bookie.
Never mind the fact that Betfair have been betting on this market in Australia for several years now without the press interest...

It was in the papers yesterday so Mr Headline Seeker has to get in for his two cents' worth. Well Mr X, there's a reason why Australia doesn't have 2c pieces anymore, because they are totally worthless!

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