Category Archives: Banking Royal Commission
Look at what happens when cash is replaced by digital currency, being developed by the Reserve Bank right now
Petition to impose immediate moratorium on regional bank closures
Short notice but worth a moniker. Editor
“Moratorium on regional bank closures and new inquiry”
Private research shows regional Australia has lost 62 per cent of its banks since 1975, leaving just 1062 located mainly in clusters in larger centres. The number of towns and cities with a bank has shrunk from 1226 to 386: 575 towns that once had one or more major banks now have no form of bank at all. Another 146 towns are on the brink of complete loss of banking services, with just one major bank open. Last year, regional Australia lost 113 “big four” bank branches. Locations included 45 towns that were stripped of their last/only bank. Of these, 23 did not have a minor corporate, mutual or franchise bank to fall back on. If a similar 10 per cent cut to the branch network is made this year, 100 more branches will be lost in the next seven months: 50 towns will lose their last bank. This issue has not been looked at properly for 17 years. The Morrison Government set up a “taskforce into regional banking” as a pre-election stunt but only put representatives of the banking industry and its own politicians on it. Just one public meeting was held. Findings have not yet been delivered.
We therefore ask the House to impose an immediate moratorium on regional bank closures, launch a new inquiry to pick up from where Money too Far Away (1999) and Money Matters in the Bush (2004) left matters and pulp any reports that come from the coalition’s taskforce.
Closing date for signatures: 06 October 2022 12:59 AM (AEDT)
Petition link: http://www.aph.gov.au/e-petitions/petition/EN4244
APRA deliberately inflated housing bubble in Australia to increase profit for banks
by Alison Ryan
The Reserve Bank’s dramatic interest rate decision this week appears to ignore the economic reality facing many households. In announcing a steep 0.5 per cent rise in the official cash rate, the RBA Governor Philip Lowe made the following claims: “Inflation is expected to increase further, but then decline back towards the 2-3 per cent range next year. … The Australian economy is resilient… Household and business balance sheets are generally in good shape… One source of uncertainty about the economic outlook is how household spending evolves, given the increasing pressure on Australian households’ budgets from higher inflation. The household saving rate also remains higher than it was before the pandemic and many households have built up large financial buffers.” (Emphasis added.)
(To see how much this statement is worth, consider that in his November and December 2021 statements on monetary policy, Lowe had given a strong indication that interest rates wouldn’t rise until after 2023; based on that, many Australians borrowed money and have now been smashed by two rises that have taken the cash rate from 0.10 per cent to 0.85 per cent.)
The RBA is one of the institutions, along with successive governments and the Australian Prudential Regulation Authority (APRA), which deliberately inflated a housing bubble in Australia from the year 2000 onwards. To boost the profits of the banks, and to cover up the effects of shrinking manufacturing and rural industries, they encouraged the banks to focus their lending on housing at the expense of all else—especially housing affordability.
One of the measures of housing affordability is so-called mortgage stress, which is a measure the RBA has long ignored. It’s hanging its decision on the claim that many households have built up large financial buffers, but Digital Finance Analytics’ Martin North reports from his comprehensive survey of more than 50,000 households—the biggest survey in Australia—that more than 43 per cent of households, 1.5 million households in total, were mortgage stressed before the recent rate rises. As North explained to Channel Nine’s 8 June Today program, these households were already foregoing expenses such as dental, children’s clothes, etc., to prioritise paying their mortgages. “If interest rates go up another one per cent, that’s a 15 per cent increase in the monthly repayment on the mortgage, so we’re going to see more people really struggling”, he warned.
We’ve seen this disconnect between financial reality and the delusions of financial authorities before—at the time of the 2008 global financial crisis in the United States. US authorities denied the danger of the financial derivatives banks had written on their mortgages; consequently, their decision to let Lehman Brothers collapse set off a chain reaction in its derivatives contracts that blew up the financial world.
In the 2008 GFC, the trigger was the rise in mortgage defaults that started in 2007. In Australia in 2007, a secret APRA report predicted a spike in mortgage defaults to 7 per cent of mortgages, which would trigger an Australian banking crisis and recession; only the massive bank bailouts and housing subsidies of 2008 averted that scenario.
Fourteen years later, the bubble is bigger, households have much more debt, inflation is rampant, and, globally, insiders like JPMorgan Chase CEO Jamie Dimon are warning that an economic “hurricane is right out there, down the road, coming our way”. If the RBA has miscalculated, it may decide in a few months to reverse interest rates, but it may be too late—it may already have triggered an unstoppable chain reaction to a crash of Australia’s debt-laden financial system. The RBA’s latest data shows Australian banks have almost $44 trillion in exposure to financial derivatives— the greatest danger to Australia’s banks and their customers.
RBA ignores the canary in the mine / local councils need for investment
The Globalist takeover of Australia
by James Lewis*
Since as far back as the 1920’s there began a concerted effort to undermine our Constitution and destroy the rights and freedoms, it gave us.
Prime Minister M.S Bruce, 1923 – 1929, a Nationalist Party member was a good freemason and destroyed our original Commonwealth Bank as a provider of cheap, plentiful finance, to assist Australian industry, agriculture and mining to develop our young Nation.
He began the handover of our assets to big foreign finance. This is a policy near and dear to the political parties today. That is where the big bribes come from. The golden handshake. Corporate fascism.
Pig Iron Bob Menzies, a senior mason and Anglophile absolutely sold us out with his International Tax Agreements (Double Tax) Act 1953. Not to mention his establishment of The “Reserve” bank and appointment of Nugget Coombs a fully fledged Communist Party member and paedophile as its Governor.
His Act gave Coombs total power to override the Treasurer in matters of National finance.
Coombs did and crippled the country.
Australia was at a standstill, with the Rothschilds and their puppet Menzies, starving the country of funds and using their controlled media and masonic and socialist puppets in Parliament, preventing any return to proper Banking and our Treasury from creating (not borrowing from banks or taxing the people) funds for infrastructure and development of industry and housing.
Along came Liberal PM Harold Holt. He was sold the idea in 1966 that we could go to the USA and shift to a dollar currency linked to the American Federal reserve bank, which is also unlawful under the American Constitution, and which is just another Rothschild/ Rockefeller clone like our “Fed”. He could borrow from them. The trade off was that we had to send our boys to Viet Nam. “All the way with LBJ.”. All we got was the CIA and Mossad moving in here permanently.
To adopt the dollar required that we have a referendum of all states and our Sovereign give assent. Neither happened, nor did our Parliament ever vote on it, yet we have the dollar??
In 1996 the High Court ruled that the dollar was NOT a lawful currency of the Commonwealth of Australia (Leske V Commonwealth). So any Governor or Judge being paid in the currency of a foreign Nation is working for WHO??
Then came Whitlam a paedophile and communist. In 1973 he demanded of our Queen that she hand to him Her land titles and Her subjects so that he could make them all Australian citizens, She refused but Whitlam lied and acted as though she agreed. She couldn’t agree because in the Act of Settlement she and all her heirs and successors are bound to never abrogate or divest themselves of the responsibility to uphold all the Rights of their Subjects. She is not a figurehead as the Jesuit/masonic criminals constantly promote. She holds the land in a strict contract with whoever bought it to the total exclusion of any third party, especially the Parliament. She couldn’t give it to Whitlam or Hawke or any other crook. This ownership prevents the government from borrowing against your property title. Or bringing in any “green” laws telling the owner of the land what can be done on that land.
Elizabeth signed his Royal Styles and Titles Act of 1973 across the top of the front page, thus voiding the entire document.
Whitlam continued his deception thus stripping us of all our common law rights under Magna Carta, Habeas Corpus, The Bill of Rights of 1688, The Right of Petition and The Act of Settlement of 1700 and The Common Law. All this our Sovereign swears to uphold in Her Coronation Oath. But since the time of Holt there ceased to be any lawful constitutional Government. All their laws are void.
This is why the Jesuits and the Rothschilds socialists have flogged the “native” title and “first nations” scam relentlessly. Rothschild Bank is the principal mortgagee of Queensland.
Mabo 1. Stole the ownership of title from the person who had paid for it. Mabo 2 stole it back from the native claimant and gave it to the fake Parliaments so that they could borrow against it.
A little history of the English republic is relevant here. Oliver Cromwell led a parliamentary uprising against the King Charles 1. Charles was fighting constant wars and was broke. He taxed the people to fund his army. Cromwell fought the Kings forces and Charles the First was defeated and executed. Cromwell’s army was financed by the Amsterdam Jews who were fronting for the Pope. Cromwell and his son allowed these Banksters to gain a foothold in London in the “City” And to practice usury which was prohibited by Common Law. And the Magna Carta. Cromwell proceeded to borrow against all the land titles of Britain, just like the crooks here today.
The people rose up and drove Cromwell’s son out of office and reestablished the Monarchy with William and Mary of Orange, but under strict rules.
The King could not tax or make any Laws but Parliament was limited by having to get Royal Assent to any Law they proposed. Assent could not be granted if the proposed law breached any of the granted rights of the people.
The King appointed Governors, Judges and magistrates and police commissioners and paid them from consolidated funds. Not the party hacks of the Parliament.
This system made Britain the bastion of freedom and was hated by Popes, Banksters and all corrupt power drunk politicians everywhere.
For example if we had a Government of the Constitution in Australia, all gun laws designed to disarm and leave the people helpless would never get that assent as they are contrary to our Bill of Rights of 1689.
Governors have given their private “assent” because they are not lawful governors with any Letters Patent, but merely private employees of the political parties. The word ‘Royal’ has since been removed from all Parliaments. No separation of powers. Premier Rob (Bubbles) Borbidge in circa 1998 had the last legitimate Governor of Queensland Peter Arnison seal his Royal appointment and become a public servant thus removing lawful governance in Queensland ever since.
All the rest of the little piggies in the other States followed. Hawke tried a referendum to get his socialist republic but the people threw it out. But here we are??
Hawke tried his Australia Act 1986 (https://www.legislation.gov.au/Details/C2004A03181) but Elizabeth refused to sign it. No referendum of the people again. His private courts and Governors acted as though he had legitimate authority because he paid them with our money. Nothing has changed.
This again is what our Masonic controlled police and Army and courts have been protecting. One word, treason, applies.
These people have created fake ” Governments” and courts to subvert Her authority and steal the peoples property and freedoms.
All the while our Army has stood by and under the control of corrupt Masonic and often paedophile Generals and officers, aided and abetted and protected this treason.
We see the Army being used to intimidate aboriginal people into taking the lethal injection against all Constitutional Law and against the Nuremberg code and the Helsinki agreement. These officers and their men are now guilty of crimes against humanity and must be treated as the criminals they are.
Liberal PM Fraser continued the treason. And because he had been caught feeding sensitive field deployment information to the Viet Cong through a spy attached to the old Communist Russian Embassy in Canberra, he rapidly got rid of any competent and patriotic military officers and began replacing them with politically “reliable” masonic and leftist officers. His treachery cost quite a few lives in Vietnam.
He was of course the father of the divisive “multi cultural ” policy foisted onto us. He should have been Court Martialed and shot.
Hawke entrenched the appointment of politically reliable command of our Army.
The separation of the powers makes it harder for loyalty to some corrupt political agenda. We no longer have that since the end of Governor General Kerr’s term ended.
No Letters Patent no Governor equals no Parliament and no laws.
The entity calling itself the “Australian” Government is only a private company. It has no people in the preamble of Hawkes “Constitution” Never was a referendum of the people to permit it.
We the people being subjects under the protection of Elizabeth the Second and being under Contract with Her as CEO of our Parliament and holder of our Land title in trust, don’t recognise any document presented as being supported by some “queen of Australia ”
Elizabeth 11. It is a fiction.
Elizabeth the Second is forbidden by the Act of Settlement of 1700 to ever divest herself of her powers or her responsibilities to her Subjects to any legal construct.
Her choice is simply to defend Her people by upholding their rights or resign.
These pretend Parliaments claim to be Sovereign and that our rights are only what they give us, nothing more. Their private courts and police enforce their criminal edicts. We have come a full circle back to Cromwell’s parliamentary dictatorship. The Army is complicit in their crimes!!
The Chinese mass murderer Mao Zedong made a pertinent observation, ” all political power comes from the barrel of a gun”. Just look at the thugs pretending to be Police in Victoria, defending a purported Premier who should long ago been moved to his natural environment, jail.
They are not independent police but private enforcers. Western Australia isn’t very far behind in its crimes against the people. Yet the Army sits on it’s butt, watching this Covid scamdemic being used to consolidate socialist/ Jesuit dictators.
Politically reliable heads of the Army remain.
Any section of our Army that by some miracle survive have a very short time to act to restore Lawful Governance. They would have to rapidly enlist a civilian militia to support their actions as happened in Romania in 1989. When the socialist President and many of his criminal backers “took the cure”. A mark of the high regard the people had for him was evidenced by when six volunteers were asked to do the deed in the firing squad, eighty volunteered.
At the time of the American Revolution, after the British army under Cornwallis were defeated, disarmed and put on boats back home, the people dragged the Judges from their homes and hung them.
Their homes were burnt down and their wives were told to get back to England any way they could, but not to stay around.
This was because the people said that these Judges in failing to uphold the rights of the people, the very same rights that we are losing here today, were taking blood money.
The reason their palatial homes were burnt is that blood money had built them.
No doubt much more could be added but I believe what I have said is sufficient.
James Lewis is a political scientist and historian
Banks, courts and sheriffs completely lawless
by Jean Wells
What the hell is happening in Two Wells, the Wild West of South Australia?
Pretty much everyone half-awake in Australia now knows there is endemic corruption in our courts of law. Anyone who’s been run through courts by banks, been bankrupted illegally or even done over in many family law or corporate matters, know exactly how it works. Power has corrupted absolutely, and it’s filtered through like the little Biblical leaven (yeast) which leavens the whole loaf. Those not corrupt look the other way. Corruption by Omission, not necessarily Commission, is rotten yeast which has poisoned our system through and through.
In a nutshell, this is a story of the courts disregarding the law, and a massive crime being committed against a small business under an unlawful court order by the Sheriff, police and a thieving farmer who thinks he can buy the law to get anything he wants for nothing.
There is a lot to this story, but I am going to attempt to simplify it for brevity (impossible!), but ensure the facts are correct. It consists of much more governmental thuggery which will come out later, but this is about the basics being ignored by police, courts and sheriffs, and how it ended up that the court appointed masked bandits arrived to steal and plunder much more than even the unlawful court order allowed.
SHERIFF CAN “TAKE WHAT WE LIKE”
In fact, the Sheriff said he could “take what he liked”, when asked if he was allowed to steal $35k worth of tyres belonging to a third party. In all, under the watchful eye of the Sheriff and police, the farmer stole more than $90,000 worth of goods NOT listed on the court order. At the time of writing, it seems that the police may not accept the report of theft UNTIL they clear it with the courts, but that may change when it goes up the chain over the next few days. One would hope!
This is worse, MUCH worse than the wicked wild west. We are supposed to be civilised. We are NOT./more
‘The Globalists’ are the Black Hat decoy of the Protocols of Zion
by Lyndsey Symonds
The Central Banking Cartel and its ownership of both ZOG East and ZOG West has been visible for some time. Stephen Mitford Goodson, a former (non-executive) director of the South Africa’s Reserve Bank wrote two books about it published 2014. As one might expect he met with a series of unfortunate events.
These books are essential texts for the new millenium and all home schools:
A History of Central Banking and the Enslavement of Mankind and
Inside the South African Reserve Bank
The banks of the BIS Cartel are visible on the Moscow skyline. Rockefeller has owned Russia since the Bolshevik Revolution. Have a look at Astana.
The Cold War was just another psy-op like ‘the death of communism’, the collapse of the USSR and 9-11. Read : The Perestroika Deception.
The Soviet / Sino Axis is building Eurasia. This is the real NWO – of the universal soviet. Dugin’s Fourth Political Position finds expression in the UN 17 Sustainable Development Goals – signed off by all the corporates owned by the BIS cartel and run by Marxist agents impersonating governments throughout the Western world. It is the entire Revolutionary Network and corporate sistema that is the key to understanding this.
‘The Globalists’ are the Black Hat decoy of the Protocols of Zion 5.11. They are the Jubela, Jubelo, Jubelum of Operation Corona and multi-lateral partners with the UN. The best website that is tracking this is http://www.fitzinfo.net.
Their contributor Andy Sloan of St. Michael’s Sword (his Twitter) are getting the work of Aleksandr Dugin translated from the Russian. But more importantly, they understand it.
Weak Albanese bends to the banks supports jail for those with more than $10,000
Scott Morrison PM gives the banks total control over the population
The Labor Party now owns the cash ban law. They have “Albowed” Morrison and the government aside to take charge of the law that, stripped to its essence, will jail Australians for not using banks.
Australians should call Albo and every Labor MP and Senator and demand to know why.
Labor MPs will scream till they are blue in the face that it’s not their law, it’s Morrison’s, but that’s a cop-out. Labor has the numbers to stop this bill, but instead they have fallen in behind the government to recommend in the final report of the Senate inquiry, released Friday, that Parliament pass the bill.
The most disappointing and dishonest part of Labor supporting the final report, and not issuing a dissenting report as the Greens did (an excellent job), is that it was Labor Senator Kimberley Kitching, who was on the Senate inquiry, who tweeted last Monday, 24 February:
“On the Senate committee looking at this, I was waiting for govt to provide evidence that their #cashban would actually impact current law-breakers (e.g. drug-dealers) rather than just inconvenience the elderly and people who don’t like banks. So far… nothing.”
So how on Earth can Kitching and Labor turn around and support the bill?!
The final report has eight recommendations, most of which are weak. For instance, they recommend reviewing the penalties for one-off as opposed to repeat offenders, but not the draconian jail sentences, which no other country with cash restrictions has. And they recommend moving the exemption for personal and private transactions, i.e. cash gifts to family members and buying a car from a friend, from the regulation, which is easy to change, into the bill, which is hard to change, but they don’t recommend doing the same for withdrawing money from the bank—this exemption is still in the regulation and remains easy for the Minister to drop, effectively trapping people in banks.
The overall problem with these recommendations is they don’t make the bill more effective in combatting the black economy; they are only intended to make the bill slightly more palatable to the Australian public. They can’t make the bill more effective because the government couldn’t provide evidence this law was necessary in the first place, as Labor Senators demonstrated, which is why it should have been rejected outright.
Will Labor insist on the recommendations, or cave?
There is, however, one recommendation that could potentially defeat this policy, but only if Labor insists on it! In the list of eight recommendations, the first is that “the government review existing powers and trends in the digital economy to assess whether the bill is the most effective response to the black economy”. In other words, the government should review whether this law is even necessary, and if it would work.
If implemented, this recommendation would significantly delay the cash ban bill, and possibly even end it altogether, because a genuine review would prove that the claims of KPMG’s Black Economy Taskforce, which recommended the cash ban, were dishonest. That report is a fraud: the late Michael Andrew who chaired the Taskforce—the only Australian to ever rise to global chair of a big four international accounting firm, KPMG, which is notorious for helping its clients in megabanks and multinational corporations evade tax and launder money to the tune of tens and hundreds of billions—had the supreme arrogance and gall to characterise the black economy as a blue-collar problem! His report pinned the blame for tax evasion in the black economy on the likes of tradies, hairdressers, nannies, personal trainers and gardeners, while absolving his former multinational business and its corporate clients. Worse, this report shows that Labor, supposedly the party of blue-collar workers, swallowed it.
It would be shocking to most Australians that this Senate report is not binding on the government, even though it’s from the government’s own committee. And even though Labor politicians signed off on the final report too, the Labor Party is also not bound by it. It is entirely possible for the government to reject the recommendations in the report, and for Labor to cave and support the bill anyway.
The question is: will Labor at least insist on the recommendations, or will they cave, and be responsible for a law that jails Australians for not using banks?
Call Parliament and demand answers
It is crucial that we keep the heat on politicians over this report, and this week flood politicians in Canberra with calls demanding they account for this report. All politicians are in Parliament this week, so the calls people make will be amplified. Here is who must be called:
- Assistant Treasurer Michael Sukkar, who is the Minister responsible for this law. Demand to know what the government’s response to the committee report will be, and whether it will accept all the recommendations. Ph: (02) 6277 7230 Email: Minister.Sukkar@treasury.gov.au
- Labor leader Anthony Albanese. Demand to know:
- Why is it Labor’s policy to jail Australians for not using banks?
- Why is Labor supporting this law even though their own Senators proved there’s no evidence for it?
- Will Labor even insist on all the recommendations, or will it cave and pass it anyway? Ph: (02) 6277 4022 Email: Anthony.Albanese.MP@aph.gov.au
- All Labor Senators and MPs. Ask them the same questions as Albanese, about Labor’s cash ban law to jail Australians for not using banks. Click here for a list of all Senators; click here to search for your MP on Parliament’s website.
Click here for a free copy of the Citizens Party’s financial crisis manual, The next financial crash is certain—End the BoE-BIS-APRA bankers’ dictatorship! Time for Glass-Steagall Banking Separation and a National Bank
Authorised: Robert Barwick‚ 595 Sydney Rd‚ Coburg‚ Vic 3058
Scomo most subservient to banks and big brother by pushing cash ban
Bob Katter, MHR said ‘big brother’ was getting more and more powerful after a Senate inquiry recommended a Bill banning cash payments over $10,000.
“This would be absolutely disastrous for the senate to pass this at a time when people are trying desperately to get their money out of the banks and financial institutions,” said Mr Katter.
“If this passes and you want to get your money out of the banks you simply won’t be able to.”
Mr Katter said the Bill would have dire implications for small businesses during natural disasters when people are unable to use Eftpos due to power and internet outages.
“If you are running even a very small business, $10,000 a week is not an unreasonable figure. During Cyclone Larry Eftpos was down for more than a week,” Mr Katter said.
“It is extraordinary that the Government would consider such an intrusion and destruction of basic human rights and privacy.
“The Parliament has sold the entire nation off to foreign corporations, they’ve bankrupted agriculture and now this is the next step.
“In China there is one CCTV camera for every three people and they are now incorporating facial recognition. In Australia the only people who have guns are the people in uniforms.
“In the famous novels A Brave New World and 1984 they had two way cameras in every household. Well, now we aren’t too far off from that.”
Queensland Katter MP, Nick Dametto said the limit on cash payments would be another assault on Australians’ freedom to be able to conduct legitimate business in a manner of their own choosing.
“This has been sold to us as a way for the Federal Government to control tax evasion but in reality all it does is give way to more control from the major banking corporations,” said the Member for Hinchinbrook.
“Australian currency is owned by the people, not the banks, and it should not be up to the Federal Government to decide how you spend it.”
Liberal plan to outlaw cash a bigger threat than terrorism
KAP Leader and Federal Member for Kennedy Bob Katter has slammed a Federal Government Bill which will control how much cash people are allowed to spend as being a danger to the Australian freedoms; a danger which he thinks is greater than the danger to our lives through a terrorism event being carried out in Australia; which the bill sells as being able to reduce.
The Federal Government snuck through and tabled The Currency (Restrictions on the Use of Cash) Bill 2019 on Friday afternoon of the last parliamentary sitting while the House had risen and all Members and their staff were returning home.
The bill carries a punishment of significant fines and jail time of up to two years if a person is caught spending or accepting a cash payment over $10,000. If passed, the bill will come into effect from 1 January 2020.
“The danger here to our freedom is greater than the danger to our lives through terrorism,’’ Mr Katter said.
“Clearly there are a thousand reasons why people like to hide a little bit of wealth; and have access to cash.”
Mr Katter quoted George Orwell in his dystopian novel ‘1984’ saying “Big Brother is watching” and that a person’s right to privacy with some of their wealth is one of the most important rights that Australians have.
“I’m told that for every 10 people in China there is one camera watching. Now whether that’s accurate or not, in most police cases that have caught my interest, I notice that the first thing they go to is the security cameras and people have no idea to what degree they are being watched on a daily basis.”
The Federal Government’s key selling point of the bill is better control of the ‘black economy’; arguing that it will reduce money laundering and the purchasing of weapons on the black market, but Mr Katter warned that an increase in going digital will result in an increase in cyber-hacking and that the bill’s passing will open the flood gates on further restriction of freedoms.
“The Government promotes the bill as a measure to combat funded international and homegrown terrorism yet with the ever-rising digital theft and threat of international cyber hacking I wouldn’t be trusting my bank account or the authorities to protect it, nor should they be controlling it.
“The Government will argue that this is the one and only initiative that they will implement to eliminate the black economy however, once the bill is introduced and passed, they will have the flexibility to dictate many more amendments to the law. It will give the police the power to control your cash over $10,000.
“Once the legislation is in place, they have opened the doors to regulate and change as they see fit.
“The assumption that our cash transactions are due to unsavoury activity allows for the prosecution of the potentially innocent, it has always been innocent until proven guilty?
“I’m sure the Government and policing authorities’ intentions are good but the only people allowed to have guns in our society are the people in uniforms.
“So we have lost the right to protect ourselves and now our right to privacy has been taken away with this bill. Are the Government and authorities going to act responsibly? Yes, most of the time. All the time? No.
“All I see here is the undermining of the great principles of Magna Carta in the rule of law. Through insidious increments, ‘The means that is argued justifies the end’.”
Morrison moves to eliminate cash on instructions from IMF
THE Morrison government is attempting to sneak legislation through Parliament to virtually criminalise cash as part of an International Monetary Fund (IMF) drive to bring in negative interest rates, allegedly to “fight recession”.
Negative interest rates mean you pay the bank to hold your money, but cash in hand incurs no such charge.
It means governments will exercise even tighter control over money than they and the central banking system already have.
Draft legislation about to be pushed through Parliament by the Morrison Liberals will outlaw cash payments above $10k under the guise of tax efficiency and combating “the black economy”.
But the Australian lobby group Interests of the People (IOTP) says the real agenda is all about the imposition of the IMF’s extreme global monetary policy in the form of negative interest rates.
“This represents a significant curtailment of civil liberties, and more,” says IOTP.
Australians have less than two weeks to respond and mainstream media appears to have ignored it.
IOTP spokesman John Adams says the Australian Treasury has released draft legislation which was initially announced in the May 2018 Budget by then-Treasurer Scott Morrison.
Nothing was done last year, but the legislation now proposes introduction on January 1, 2020.
“I was skeptical that this ban on (cash) transactions would come in but now that the Coalition has been re-elected, the Coalition with ScoMo and (Treasurer Josh) Frydenberg have decided to push this initiative forward,” Mr Adams said on IOTP’s YouTube channel (“Red Alert: ScoMo declares war on the Australian people”).
Adams says the government is claiming it’s to deal with tax revenue and the black economy but if this was the case, why didn’t they do it a decade ago when the GST was brought in as a way of eliminating the black economy.
“They could have easily introduced certain bans on transactions at that point, but they never did. So why now?
“It’s because not of tax revenue, it’s about interest rates. It’s about the International Monetary Fund. They’ve written a series of technical papers … about how to make negative interest rates work.”
Adams says the IMF wants to make interest rates “deeply negative” e.g. negative 3 to 5 percent, something never done before in human history.
And this would allow the central banks to implement controls on money and people never before implemented in history.
Adams says this will be sold as an initiative to stop the black economy, but in reality it is the first of a series of stages to eliminate cash.
The Treasury announcement came out at 5:12pm on Friday, July 28, in an attempt to limit exposure of it. Mainstream media do not appear to have reported on the plans.
The consultation period ends on August 12th, which points to an attempt by the government to limit exposure of the plans, while allowing them to say “consultation was sought”.
The full interview can be seen at https://www.youtube.com/watch?v=770M2s6ZD8Y&feature=youtu.be&fbclid=IwAR2vEHSudRzJHl7ppoGhm5I8Y3zwR2eqjkD3u5vYyqe13ZyDPkYVzfGMGMg