De-banking is the process of banks closing accounts for businesses or individuals. All the big banks are now de-banking clients and claiming that this is for Anti Money Laundering reasons, but it is just not true. At our Senate Estimates questions, APRA agreed they had authority in this area and also agreed they were doing nothing about this scandal.
The companies being de-banked are bullion dealers, bitcoin exchanges and cash handling companies working to keep ATMs in clubs and pubs full and so on. All of the companies that have been de-banked that my office has looked at are legitimate, long-established companies that are following the law.
The only explanation for de-banking is this – banks are shutting down their competitors. This is an abuse of their market power that will prevent competition in banking and reduce freedoms Australians enjoy as to the choice of what to do with their own money. This is bank greed and the supposed-regulator the Australian Prudential Regulation Authority are facilitating this by looking the other way.
The Cash Ban Bill produced by Treasury works with the banks by de-banking their rival businesses and then preventing those businesses to move over to cash payments. This effectively puts these banking rivals out of business.
And who do you think it might be all about, David?
This might give you a clu-and Peta Credlin was waxing lyrical about Dutton in today’s Herald, saying: “Wait til you see the real Peter Dutton!!!”
https://rumble.com/v66dvkp-insider.html?e9s=src_v1_ucp
“Isn’t it that APRA is sold to the people as a regulator?”
Correct. But like with the TGA, the “authorities” don’t tell us for whose benefit it is ACTUALLY exercising its regulatory powers.
Recent observations and events strongly suggest it’s not for us.
Same goes for the ACCC. They make us feel safe and secure that there is someone out there protecting our interests against the various, behemoth “mercantile” clubs which invariably do as they like and get what they want.
But in truth, they’re just gatekeepers who ensure the behemoth “mercantile” clubs can operate safely and effectively.
I have just now found out the ABN of APRA, which means that APRA is a corporation/business entity as all government departments are.
Given that they are interfering with the bullion people’s business the fact is that they are subject to the Consumer Law, as the Banks are if the de-bank, for restraint of trade under that Law.
This publication did a story about local councils being businesses after I sent them this about local councils.
Same applies to any commercial operation, including incorporated governments and their departments:
https://www.mondaq.com/australia/consumer-trading-unfair-trading/394804/councils-can-be-found-guilty-of-misleading-or-deceptive-conduct
Now holding the Banks and APRA to their full commercial liability in undermining legitimate businesses (due to woke agendas) might make a few of them straighten up and fly right (of centre, maybe)?
The banks and the government will do whatever they like, whenever they like because they know the majority of Australians are all talk and no balls. Just take a look at the comments in RT and see how pathetic we Australians look in the eyes of the world….how embarrassing!
Isn’t it that APRA is sold to the people as a regulator?
The bot produced this:
“In 2022, Australia’s gold production was valued at approximately $26 billion, making it a cornerstone of the mining sector.In addition to gold, Australia boasts a diverse range of high-value products. For instance, iron ore, another major export, was valued at around $100 billion, showcasing the country’s strength in mining. Other notable products include coal, which generated about $50 billion”
The banks are insane, China is buying gold as fast as they can, is this like gas, we can’t buy it we can only give it away to offshore markets
“Going after bullion dealers (and their staff) is a clear indication of what the banks fear – people being able to live without the banking system. ”
Heaven forbid that the Money Merchants should lose their hold over our High Priests (lawmakers) !
That could destroy their Synagogue of Satan and leave them with nowhere to put their tables.
Far better they destroy the bullion dealers than we lose our faith n God. 😉
IT WOULD BE NICE TO SEE THE DEBANKED GET TOGETHER AND START THIER OWN BANK, THAT WOULD PUT THE FOX AMONGST THE CHICKENS.
If they keep up the de-banking, the people will begin to de-bank. – I’ve lost count of the number of times I have seen the idiots of the modern world stand stupefied as their plastic or idiot phone fails to purchase the goods they want. The computer system may be down or the power is out, whatever. Those people don’t even have a simple bank note folded up in their wallet for emergencies. They are slaves of the technological system.
Throw in ‘bail-ins’ and other confiscatory actions and people begin the realize how tenuous their lives become when relying on the banking system. The de-banking issue should be a wake-up call to everyone about what a control system it is.
Going after bullion dealers (and their staff) is a clear indication of what the banks fear – people being able to live without the banking system. However, for 10s of thousands of years humans have been quite able to live without the present system. Precious metals and barter have a much longer history of use than either paper money or ‘plastic’.
When this fiat money system implodes people better be ready and able to go back to basics. – A small bag of silver coins should be a common necessity as life-preservers on a boat.
A few names I saved up
beyondbank
greatsouthernbank
qudosbank
This was precisely why Trump vetoed the fraudulent SAB Rule 121.
The Securities and Exchange Commission (SEC) and their criminally enforced Staff Accounting Bulletin 121 (SAB Rule 121), which wasn’t even a law, but simply a bulletin, illegally circumvented Congress via the Biden administration: Biden, Warren and the SEC head Gary Gensler.
This circumvention of both the Senate and Congress, ultimately by Biden himself, allowed the SEC to fraudulently pressure the banks into not allowing them to hold cryptocurrencies on their books [only under liabilities, which had to have a matching asset], which meant that banks would not allow customers to transfer money to crypto exchanges without the bank’s fear of prosecution. All of which was illegal.
Banks soon realised they were losing out, as more people were moving into cryptocurrencies, whilst they themselves, were effectively eliminated from this growing financial industry.
Following his inauguration, Trump immediately removed Gensler, replaced him with the so called ‘Crypto-Mom,’ Hester Pierce, and rescinded SAB 121, hence, deregulating the banks with regards to crypto banking.
This now makes crypto adoption available to the banking industry and millions of Americans, if they so choose, thus, returning ‘freedom of financial choice’ to the American people.
With Hester Pierce heading the SEC, she is now leading the pro-crypto ‘Task-Force’ in collaboration with Trump’s crypto-czar, David Sacks (Sachs): initiated at the end of January. Unlike the previous Biden regime SEC, which circumvented Congress, the new SEC will be working in close collaboration with Congress and other agencies: this is regime shift.
With Trump’s passing of his Executive Order, which essentially sidelines the FED and Federal Digital Insurance Corporation (FDIC), – he’s basically saying, – get out of the way, we’re doing this.
This should raise the tide for global crypto adoption, which has since occurred, so one would presume?, that Australia will eventually follow suit in regaining their freedom of financial choice.
Vladimir Putin probably said it better.
‘But I assure you, Trump with his character, persistence, he will restore order pretty quickly. And all of them [other Western leaders], you’ll see, it will happen quickly soon, all of them will stand at the master’s feet and gently wag their tails.’ (President Vladimir Putin, January, Russia Today interview.).
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