Dear Reserve Bank of Australia representative

I am currently researching the history of money and would like to request some information from you.

It is my innerstanding that the Reserve Bank of Australia (RBA) duties include facilitating an economically efficient payment system and issuing the Commonwealth of Australia (Australia) banknotes in circulation.

1. Can you please provide the information that you have or have access to that provides that the Australian dollar banknote is 'Lawful' money of 'substance'?

2. Where does the Australian dollar banknote specifically derive its intrinsic value from?

Kind Regards
Scott, of the family Chapman

Hi Phil

That information is very very helpful. However, could I request that you direct me to the official glossary where the RBA derives its definition of terms? That information would be most helpful in deciphering some of the information.

In addition, I have a couple of simple questions related to the information provided.

What do commercial banks use to purchase the Australian dollar banknotes created by the RBA? and if the RBA prints its own 'money of account' out of thin air, why would there be a need to purchase the banknotes? As per under the title "How is money created?" it states, "commercial banks purchase banknotes from the Reserve Bank [of Australia]"

Does the RBA accept the Generally Accepted Accounting Principles (GAAP) as a method for money creation? Do you have a document that explains the details of the principles used/recognized by the RBA?

Since legal tender is a note issued by the RBA and the Mint issues the coins, who controls/has responsibility for the creation of digital dollars in circulation?

Kind Regards
Scott