One Nation’s Banking Amendment bill to remove ‘bail-ins’

by Alison Ryan

AAP Fact Check fails on basic ‘bail-in’ facts says Citizens Party.
18 March 2022

AAP reported that it had fact-checked the claim that “The government can take any deposits in excess of $250,000 from your bank account and instead you can receive shares in the bank.” AAP Fact Check concluded: “False. The claim is based on opinions that have been investigated by a parliamentary committee and found to be unsupported.”
https://www.aap.com.au/factcheck/claim-that-government-can-grab-bank-deposits-in-a-crisis-has-no-currency/

Readers may remember the One Nation Senator Malcolm Roberts’ Banking Amendment (Deposits) Bill 2020 Schedules 1 Amendments for the Banking Act 1959 – at http://classic.austlii.edu.au/au/legis/cth/bill/bab2020261/

The bill sought to amend the bank “bail-in” law snuck through Parliament on Valentine’s Day 2018 (with just eight Senators present). Malcolm Roberts’ Bill sought to close off a broadly-worded loophole, ie; “any other instruments”, so that its “conversion or write-off”—a.k.a. bail-in—provisions cannot apply to bank deposits. The Amendment was to provide clarification of terms and explicit reference to bail-in in relation to a deposit account, means to convert or write off the deposit account.

Senator Roberts’ Amendment Bill sought to ensure the legislation said what the government claimed that persons’ deposit accounts could not be bailed in.
It seemed a simple fix to gain certainty, but the government rejected the Bill.

Citizens Party says AAP should have contacted them, because it made a mistake in fact-checking the imprecise claims of a social media influencer.
https://citizensparty.org.au/media-releases/aap-fact-check-fails-basic-bail-facts

The Dissenting report by One Nation Senator Malcolm Roberts is important reading and addresses the failures of the Senate Economics Legislation Committee Inquiry.
https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/BankingDeposits/Report/section?id=committees%2Freportsen%2F024505%2F73618

About Editor, cairnsnews

One of the few patriots left who understands the system and how it has been totally subverted under every citizen's nose. If we can help to turn it around we will, otherwise our children will have nothing. Our investigations show there is no 'government' of the people for the people of Australia. The removal of the Crown from Australian Parliaments, followed by the incorporation of Parliaments aided by the Australia Act 1987 has left us with corporate government with policies not laws, that apply only to members of political parties and the public service. There is no law, other than the Common Law. This fact will be borne out in the near future as numerous legal challenges in place now, come to a head soon.

Posted on April 6, 2022, in Agenda 2030, ALP, Annastacia Palaszczuk, Anthony Albanese, Australian Bankers Association, Banks and tagged . Bookmark the permalink. 7 Comments.

  1. All proposed Federal Bills must be put to referendum for the people to approve or reject!
    Malcolm Roberts is a traitor!
    He made up the numbers needed to pass the Bill, no referendum, to bring in Foreign Military to control the population who were already here, are here now.
    No referendum for proposed Bills = no Bills passed into Law!
    The majority of people have no idea of the power they hold but even if they did they’d have to ask permission of some (unknown) imagined higher authority to get permission to assert their power, carefully!

    Like

  2. How The Big Banks Are Conspiring To Crush Commonwealth Nations Under Communism

    “They want death because they want to mandate a vaccine. They want to mandate a vaccine because they want a social credit score, and they want a social credit score because they are planning on resetting the global currency to the digital blockchain – what millions of people in these western nations under attack would call the mark of the beast, known today as the Chinese social credit system, wherein each citizen is completely reliant upon the Government – absolute tyranny. There is no global pandemic, and the only virus that threatens humanity is the big banks, their offshoots and whomever or whatever they serve. This is quite simply the parasitic top of the global pyramid feeding off all of humanity. A former Vatican bank president has recently warned that the Covid pandemic is nothing but a fraud to bring in the Great Reset.”

    https://bluecat.media/how-the-big-banks-are-conspiring-to-crush-commonwealth-nations-under-communism/

    Like

  3. From the way I understand it, AAP are white-washing the whole thing.
    Why was Morrison so secretive and wily in bringing the Bill up on a Friday night when there were only his people in Parliament….every one else had gone home for the weekend?
    And why has he since tried to have it brought up again…I think it was at the end of last year?
    Because he is working for the banks and Great Reset…they want your money.
    It happened in Greece and Italy several years ago and it hit ordinary people like you and me…some still haven’t got their money back.
    If it can happen there…it can happen here.The government have a great habit of making laws to justify their corruption.
    I do not trust them and I don’t trust the AAP fact checkers.They twist the facts to suit the narrative!

    Like

  4. “Section 51 of Australia’s Constitution prevents the government from acquiring property without providing “just terms”, or compensation”

    I believe that in the case of the dollars you deposit in the bank, legally they become the property of the bank! You become a “creditor” and you only get an IOU that the bank will pay you back the deposited amount and interest on demand.

    Legally, you have no apparent “property” that the government can acquire except your legal entitlement to enforce the IOU, an entitlement which the govt can curtail to your detriment in favour of saving the bank, WITHOUT acquiring any property.

    Sec 51 of the Constitution is no protection there. And even if it were invoked, by the time you get your case through the legal brawl you’ll be a bit more than a few $$$ out of pocket.

    Like

  5. The Iceland Solution Mach 1 is the only solution to Too-Big-to-Fail Banksters and their politicians. Investigate. Charge. Try. Jail. It is a question of sovereignty. Either it is the Money Power or it is the Nation. It can not be both.

    https://www.vox.com/2015/6/9/8751267/iceland-capital-controls

    https://www.ft.com/content/a5ba550f-2bcc-4947-b152-afe9bf5b0107

    https://www.washingtonpost.com/news/wonk/wp/2015/06/17/the-miraculous-story-of-iceland/

    Malcolm Roberts is not on the side of Australian Sovereignty or the assertion of Australian Sovereignty.

    Like

  6. They will try anything to get our money… we’ll, they can’t spend it where they’re all going.

    Like

  1. Pingback: One Nation’s Banking Amendment bill to remove ‘bail-ins’ – altnews.org

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