Category Archives: Banks

Westpac Bank asking customers what withdrawals are to be spent on

Letter to the Editor

Earlier this evening I did an online payment of five k to someone I know in australia. Westpac decided it was a scam and called me, left a message and asked to call them back as the payment had been suspended. After waiting twenty minutes online I answered all their security questions, assured them the payment was gong to someone I know and there were no problems as far as I was concerned. What is the money for she asked? That’s none of your business I replied. It’s my money and how I choose to spend it is my business no one else’s. It went down hill from there fairly quickly…she refused to put the payment through and said any further payments would just bounce back into my account. I have now been suspended from accessing my account online. A couple of other women have said recently that they have been questioned by branch staff when withdrawing cash as to what it was for and not being allowed access without giving a reason. Has anyone else had this problem…is it a certain demographic they are targeting…what is going on?

from Jacinta

Commonwealth, ANZ banks regular outages upsets customers but is a Nesara test

https://thenewdaily.com.au/finance/finance-news/banking/2021/06/17/bank-outage-june/

https://thenewdaily.com.au/finance/consumer/2021/07/06/commonwealth-bank-outage-july/

Commonwealth Bank, ANZ, Westpac, St George, Bank of Melbourne, Macquarie Bank and Bank SA. customers have been hit several times by a nationwide outage, with widespread reports of people being unable to pay for shopping or access accounts.

CommBank, Australia’s largest, confirmed the outage in a social media post on Tuesday morning.

Overseas banks have reported similar problems over the past few months which media commentator Charlie Ward says is testing for the switch across to the new, global Nesara financial system.

The outages also hit airline Virgin Australia and Australia Post and a broad swathe of other companies.

“Virgin Australia was one of many organisations to experience an outage with the Akamai content delivery system today,” Virgin said.

“We are working with them to ensure that necessary measures are taken to prevent these outages from reoccurring.”

Akamai is a US-based global content delivery network or “edge platform”, cybersecurity and cloud service provider.

ANZ acknowledged a similar issue and said “at this stage we do not have an ETA for a fix, please try logging on after an hour”.

Customers reported being unable to use internet banking, mobile banking, as well as some ATMs and cards, from about 2.10pm, according to Down Detector.

Shortly after 3pm (AEST), Commonwealth Bank tweeted that it was aware some customers were “experiencing difficulties accessing our services and we’re urgently investigating”.

“We apologise and thanks for your patience, we’ll provide an update soon,” it said.

How the banks and big end of town own the LNP/ALP duopoly

When are you going to reinstate Christine Holgate PM Scott Morrison? And you tout your alleged Christianity?

How much is a billion Mr Politician?

If I give you $1 billion and you stand on a street corner handing out $1 per second, twenty four hours a day, seven days a week, you would still not have handed out $1 billion after 31 years!!

Now read on.

A VERY BIG NUMBER

This is too true to be funny.

The next time you hear a politician use the word ‘billion’ in a casual 
manner, think about whether you want the ‘politicians’ spending YOUR tax 
money.

A billion is a difficult number to comprehend, but one advertising 
agency did a good job of putting that figure into some perspective in 
one of its releases.

A. A billion seconds ago it was 1959.

B. A billion minutes ago Jesus was alive.

C. A billion hours ago our ancestors were living in the Stone Age.

D. A billion days ago no-one walked on the earth on two feet.

E. A billion Dollars ago was only 13 hours and 12 minutes, at the rate

our government is spending it.

Stamp Duty

Tobacco Tax

Corporate Income Tax

Income Tax

Council Rates

Unemployment Tax

Fishing Licence Tax

Petrol/Diesel Tax

Inheritance Tax

(tax on top of tax)

Alcohol Tax

G.S.T.

Property Tax

Service charge taxes

Social Security Tax

Vehicle Licence / Registration Tax

Vehicle Sales Tax

Workers Compensation Tax

Carbon Dioxide Tax

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 60 years ago and Australia was one of the most prosperous countries in the world.

That is until federal and state governments corporatised every government department and Whitlam removed the Crown at the request of the Deep State Cabal.

Notably later on when PMG/Telecom was sold off by the Liberal Party, politicians profited immensely by getting kickbacks from the Deep State. Cairns News has been told of this corruption by MP’s of the day who were offered but refused huge cash or in kind payments to support the sale of Telecom in Parliament.

Not so long ago we had absolutely no national debt after the world’s greatest treasurer, Liberal Peter Costello emptied the vaults of 137 tonnes of gold.

We had the largest middle class in the world.

Mum stayed home to raise the kids.

Dad and teachers were allowed to discipline kids.

A criminal’s life was uncomfortable.

What Happened?

‘Political Correctness’, ‘Corrupt Politicians or both?’

-contributed

Support sacked Australia Post CEO for helping the regions and standing up to the LNP and ALP

Get behind Christine Holgate – help get to 10,000 signers!

Click above and sign petition

On Tuesday 13 April Christine Holgate will speak publicly for the first time, at a hearing of the Senate inquiry into her removal. For a reminder of what is at stake, watch this short clip of Christine Holgate in 2018 announcing the banking deal with CBA that saved community post offices, jobs, and the regional communities that rely on post offices for banking services. Without this deal…

Banks forced Liberals to sack Christine Holgate, best ever Post Office CEO – Katter calls for reinstatement

KAP Federal Member for Kennedy Bob Katter, a staunch supporter of former Australia Post CEO Christine Holgate since her unethical dismissal last year will move in the Federal Government a motion to reinstate her as CEO.

He praised her integrity and perseverance in defending her decision to purchase Cartier watches as a reward for key employees securing long-term, profitable banking services which ensured the longevity of Australia Post branches around the country.

Banks forced LNP to sack Australia Post CEO Christine Holgate due to her support for keeping regional post offices in the owner/operator model preventing the LNP/ALP duopoly from selling post offices overseas and allowing banking in rural areas

“The most successful and honourable businessmen I have ever had the pleasure of being a friend of, Marcus Blackmore, the great innovator in medicinal supplements had Christine for a long period as his Chief of Staff and he swears by her integrity and her competence,” he said. 

“I cannot say how much I admire a person that cut her salary in her job down to that of a departmental head in a state government department. This is one of the largest operations in the country and she is the only CEO in Australian history that I can think of that reduced her salary down a fraction of what it had been under her predecessor.

“It is the first time that post offices have spoken positively about their CEOs of Australia Post and she gave them hope for the future. She had worked with owner/operator pharmacies which are owner/operated by law (albeit with corporate oversighting) and she was determined to keep the owner/operator model – clearly the most successful model which guaranteed local ownership throughout the suburbs and regional towns of Australia.

“Quite frankly she should had been sacked if she hadn’t given these star-performing, hardworking employees a bit of reward for their efforts.”

Mr Katter said, “Call me paranoid but I just can’t get it out of my head that the banking agencies were working so well that the banks were getting toey that there might be another powerful banking player in Australia. The last thing they want is any further competition, particularly from an organisation that has branches in every suburb and town in Australia, places they have long since abandoned.

MHR for Kennedy Bob Katter warns the Liberals that popular Australia Post CEO Christine Holgate should not have been sacked as she was the only bulwark against a sell-off of post offices and the LNP

“Christine has extraordinary capabilities – you don’t run a multi-billion-dollar corporation like Blackmores if you are a fool – was in her vary nature, threatening on the banking front. And a rabid free market government in Canberra whether LNP or ALP except for Rudd, I can’t name one of them that is ideologically bound to a free market mentality, has made continuous efforts to prioritise one of the last assets the Australian people own. Everything has been sold off with the vast bulk in the hands of foreigners.

“Christine did not strike me that she would agree to sell off the magical asset of Australia Post and/or bow to the whims and interests of the banks whose record was so bad that each of the banks did a huge backflip and apologised for their conduct.

“Well now we know the truth. We know now we have been misled and we know now who has misled us.

“We will get a vote in the Parliament and she will be reinstated. And if the Government doesn’t do that, then the way it is headed at the present moment, it will just be another nail in their coffin.”

Deflecting blame, Prime Minister Scott Morrison said today her dismissal is now the subject of a senate inquiry.

Age pensioners will be placed on the Indue cashless welfare card

Your grandma is next! Fight Morrison’s creeping cashless economy agenda

From the Australian Citizens Party

The Senate will soon vote on the Morrison government’s bill to extend the trials of the Indue cashless welfare card. These trials are part of the government’s and banks’ creeping cashless agenda, to force Australians into electronic payments and effectively trap them in banks. The government’s bill to ban cash transactions over $10,000 is part of the same agenda. While Australians angrily reacted in huge numbers to the $10,000 cash ban, which sparked an insurrection against the bill in the government’s own ranks, too many have failed to recognise the cashless welfare card is a foot in the door for the same agenda. If you oppose the push to a cashless economy, call cross-bench Senators Jacqui Lambie, Stirling Griff and Rex Patrick before Wednesday to demand they oppose the bill.

Totally compromised banker’s man and Prime Minister Scott Morrison is being controlled by the Deep State and is pushing Australia, as the NWO guinea pig, into a cashless society

Don’t fall for the justification that the Indue cashless welfare card ensures welfare recipients in highly disadvantaged communities spend their money responsibly and not on alcohol and cigarettes. The card is a totalitarian technological short-cut that is a substitute for addressing the real causes of welfare dependency and drug and alcohol abuse in disadvantaged communities. It is also a trial of a program that is intended to be rolled out Australia-wide, which will include recipients of the aged pension. The government falsely and insultingly calls the pension welfare when in fact it is a payment for which pensioners have contributed all their lives. The trials currently include recipients of disability and carers payments.

On 11 September 2019, the Citizens Party exposed how the Indue cashless welfare card is part of the broader push for a cashless economy:

The Morrison government’s cashless welfare card, and draft $10,000 cash ban bill, are part of the program to force Australians into a cashless economy system that will enable the private banking cartel and government to monitor and measure their words-the financial activities of every Australian.

In 2012 the RBA [Reserve Bank of Australia]-the high priests of the financial system who conjured Australia into a debt and real-estate bubble, and now use monetary policy solely to pump more debt into the bubble to prop up the banks-conducted a review of the payments system, using its legislated powers, unique among central banks, to promote efficiency and competition in the payments system. That review led to the establishment of the Australian Payments Council (APC), which was founded by the Australian Payments Clearing Association (APCA, now Australian Payments Network) to promote a strategic agenda for the Australian payments system through industry collaboration. The APC set out to create the platform for real time electronic payments clearing (including peer-to-peer consumers instantly paying each other through their phones), which is the infrastructure for a cashless economy. This idea became the New Payments Platform (NPP), and to coordinate the project and industry efforts to bring it to life, APCA engaged global accounting giant KPMG.

The NPP is now up and running, although in a fledgling state. It is jointly owned by 13 of the biggest financial institutions in Australia. Extraordinarily, the RBA itself is one of the owners-a massive conflict of interests for Australia’s central bank to effectively be in a business partnership with the private institutions it is supposed to regulate. Another curious name on the owners’ register is Indue, the private corporation that holds the contract to manage the government’s cashless welfare debit card, for which Indue is paid $10,000 per card to administer, and which the government wants to roll out Australia-wide.

While KPMG was coordinating the NPP, its former boss, Michael Andrew (now deceased)-the only Australian to ever become the worldwide boss of one of the Big Four global accounting firms-was chairing the government’s Black Economy Taskforce. In the Taskforce’s 2017 report, Andrew recommended the $10,000 cash ban to move people and businesses out of cash and into the banking system, which makes economic activity more visible, auditable and efficient.  In other words, to force Australians on to the NPP!

With the Indue card the government is picking off welfare recipients to be the first forced into their cashless regime, but your grandma is next. Meanwhile the banks are succeeding in using the pandemic disruption to advance their plans to reduce cash use and make people more reliant on electronic payment systems.

Here’s the good news: although it’s officially still in the Parliament as a bill, the government’s $10,000 cash ban has stalled. The government has gone very quiet on the issue, and that is entirely due to the huge public backlash they received after unveiling the bill last year. The Australian people fought them back, but must continue to do so every time the government tries to push the cashless agenda. This cashless welfare card bill is one of those times, so the Citizens Party is calling on concerned Australians to contact the three cross-bench Senators before Wednesday to insist they oppose this bill.

Senator Jacqui LambiePh: (03) 6431 3112Email: senator.lambie@aph.gov.au Senator Rex PatrickPh: (08) 8232 1144Email: senator.patrick@aph.gov.au Senator Stirling GriffPh: (08) 8212 1409Email: senator.griff@aph.gov.au

Bald-faced liars of the Liberal Party, Frydenberg and Sukkar slug taxpayers

Treasurer Josh Frydenberg is a bald faced liar. So too is his Assistant Treasurer Michael Sukkar and Prime Minister Scott Morrison.

All three have claimed on national television the $330 billion created by the Reserve Bank was borrowed and taxpayers are liable to pay it back.

The ABC broadcast this interview with Treasury officials who have stated categorically the Covid 19 bail-out Jobseeker fund to assist business maintain employee remuneration was created by adding extra noughts in Treasury computers. The ABC has rolled over yet again, under orders from Frydenberg, ignoring their previous radio interview about Treasury credit creation.

Reserve Bank creating money out of thin air to prevent economic disaster – PM – ABC Radio 

ABC reporter David Taylor naively claimed this was the first time Treasury had created credit. He is totally wrong- it has been doing it since the early 1900’s.

Treasurer Josh Frydenberg, in good old Jewish style is a bald-faced liar when it comes to money. Treasury created the credit to fund the Jobseeker bailout.

There is nothing new about credit creation by banks. Early bankers of the 17th and 18th centuries  accepted gold as a deposit then issued notes against the gold held in their vaults. The value of the notes often exceeded the value of the gold in their vaults.   These were the first bank notes used in every day transactions then and now. Except for the world’s greatest Treasurer, Liberal Peter Costello who sold most of our physical gold reserves to ‘balance the books’ and replace it with government paper.

Peter Costello agreed to sell most of our gold holdings in 1997.

The decision prompted cries of betrayal from the gold industry and, with the benefit of hindsight, was incredibly poorly timed. Since the sale of 167 tonnes of gold for $2.4 billion, or just over $400 an ounce, gold in Australian terms has rallied to record highs. The price peaked last July at $1819.44 an ounce, at which point the gold Australia sold for $2.4bn would have been worth $10.7bn.

In a vault deep in the basement of the Reserve Bank’s Martin Place headquarters in Sydney today sits a hoard of gold bars worth about $US500,000 each — all four of them.

The RBA now holds almost the entirety of the nation’s gold in vaults administered by the Bank of England.

Credit creation  as espoused by social credit crusader Major CH Douglas before and after WW 2  has been around for centuries.

Charged with rebuilding a destroyed Japan after WW2, General Douglas MacArthur rebuilt its economy without borrowing external funds. He created the credit needed by issuing paper as do the central banks of every country.  Japan turned into a powerhouse economy and led the industrialised world with manufacturing for decades.

Just as the Australian Treasury and the the Commonwealth Bank did for a century. Taxpayers should not be slugged to pay back the Jobseeker fund particularly as  Frydenberg, a member of the Jewish fraternity, admitted $60 billion was created unnecessarily due to a book keeping error and not needed after the sums were done correctly.

This credit does not exist as legal tender, that is notes and coins, but as a blip in the Treasury computer.

He could use these created funds to complete construction of the Bradfield Scheme to water inland Australia, high speed rail and new generation, coal-fired, base power stations thus creating tens of thousands of meaningful jobs.

 

Treasury business bail-out should be interest free

by Robert J Lee

The mainstream media seems unable to publish any reliable news unless it has a quote from ‘professionals’ who are supposed to know something about the subject which they have been asked to remark.

The media has to ‘tag’ people to enable them to make authoritative statements and any obscure spokesman from any university will do. After all are not uni’s supposed to be esteemed halls of learning? Those which haven’t been overrun by socialist lecturers and others pushing extreme agendas are hard to find.

Take the case of the economy, taxation and the $330 billion created by Treasury for quantitative easing (credit creation with interest) of the loss of income for small business, banks and 750,000 sacked employees due to the coronavirus outbreak. Incredulously, private banks have been propped up by at least $130 billion of these funds.

Professor Robert Bruenig of ANU wants an increased tax burden for older Aussies to pay for the $330B created out of thin air by Treasury

News Ltd felt obliged to ask Professor Robert Breunig who leads the Australian National University’s tax and transfer policy institute (whatever that might be) to comment.

This professor, if correctly quoted could have been the right hand man of Maynard Keynes, the noted economist who was labelled by Time Magazine in 1999 as one of the most important people of the century because of his economic theory of issuing money as a debt.

Keynes, who died in 1946, was a director of the Bank of England and a promoter of free trade economics in which open market operations, direct taxation and government borrowings would keep a nation’s economic policy flowing nicely.

Nicely flowing right into the pockets of the financial oligarchy.

Keynes’ economic legacy has been lining the private banks’ pockets for 100 years to the detriment of the general population by limiting growth of economies and biting personal taxation to keep up with interest rates on borrowed funds.

ANU economist Professor Robert Breunig has not yet caught on that the Australian Treasury two weeks ago actually issued its own credit out of thin air with no interest attached which has been an enormous boost to the failing economy caused by the lock-down of a nation. However it seems Treasury has attached an interest component for borrowers.

Bruenig believes the older generation, in good old Keynesian style, should shoulder more of the coronavuirus burden by increasing their tax burden.

Maynard Keynes, a 20th Century economist whose monetary policies were adopted by the world simply lined the pockets of the financial oligarchy

“The massive government spend of at least $330 bIllion to counter the economic shock of Covid 19 will have to be paid for by young people,” Professor Breunig told News Ltd.

This learned prodigy of the ANU does not understand what Treasury has done. He doesn’t understand basic monetary creation. Treasury has issued funds as a credit not as a debit and to hell with the private bankers. He doesn’t understand that income tax and a consumption tax are bad policies for which there is no need if money was issued by Treasury as a credit backed by the vast, valuable natural assets of this country.

Another famous monetary reformer from the 20th century, Major C H Douglas was diametrically opposed to Keynesian monetary policy and took the fight right up to the oligarchy with his social credit analysis:

“The economy exists to provide people, as efficiently as possible, with the goods and services that they need to survive and flourish. That is, production exists for the sake of consumption, not for the sake of money-making, employment, satisfying the creative impulse, or ‘moral’ discipline (considered as ends in themselves). It most certainly does not exist for the sake of centralizing wealth and power in the hands of an oligarchic elite.”

https://www.socred.org/s-c-action/social-credit-views/the-economics-of-social-credit-in-summary/social-credit-explained-in-7-points

Treasury, under the Jewish Treasurer Josh Frydenberg, has to a point, beaten central banks at their own game. This created national credit should be given interest free as a ‘Job-Keeper’ wages supplement for small business. Treasury has been playing with the bond market in complicated purchasing and trading of government bonds which in reality is based on smoke and mirrors and not needed to create national credit.

Major C H Douglas promoted social credit as a means of financing government

But Frydenberg has required small or large business to pay interest on all other loans under this scheme. This is bad fiscal policy and there should be no interest charged and the loan should be paid back only if the business is capable of doing so, which are the same conditions attached to US President Trump’s US business bail-out.

This crisis was no fault of small business or wage earners.

Trump has beaten the oligarchy at its own game by merging the privately owned Federal Reserve with Treasury. In other words he has nationalised the Federal Reserve and locked out the Rothschild bankers.(and Trump is still alive)

He has just created $2 Trillion for industry bail-out funds interest free.

It seems Frydenberg does not have the intestinal fortitude to defy the private bankers. After all he is a Jew.

Treasury creates biggest ever business wages subsidy by adding extra noughts in computer

Today marked one of the most important days in the Australian Parliament’s history with the passage of legislation to support the Morrison Government’s $130 billion JobKeeper Payment.

This unprecedented level of financial support will save millions of jobs and keep families together, businesses in business and preserve the productive capacity of the Australian economy.

The $1,500 per fortnight JobKeeper payment is the equivalent of about 70 per cent of the median wage and represents about 100 per cent of the median wage in some of the most heavily affected sectors, such as retail, hospitality and tourism.

It will be available to full-time and part-time workers, sole traders and casuals who have been with their employer for 12 months or more. Importantly, it will apply to the many Australians working in the not for profit sector.

Combined with the Government’s previous actions, this totals $320 billion or 16.4 per cent of GDP in economic support to Australian businesses, households and individuals affected by the Coronavirus puts Australia in the best possible position to bounce back stronger than ever.

Eligible businesses can apply for the payment online and are able to register their interest via ato.gov.au

Where did PM Scott Morrison find $130 Billion to fund the Coronavirus stimulus package?

Did Trump just nationalise the Federal Reserve?

by Alexandra Bruce

Special Purpose Vehicles (SPV) devised by the Trump Administration will  enable the Treasury to finance his $2 trillion Coronavirus stimulus package WITHOUT INTEREST.

Where did Australian Prime Minister Scott Morrison find $130 billion at the drop of a hat to fund the Coronavirus economic stimulus package for struggling Australia?

The video ‘The Goldfish Report’ on forbiddenknowledgetv.net is  the most informative yet about the world monetary system.

NESARA, which stands for the National Economic Security and Recovery Act was conceived by Harvey Francis Bernard, who held a doctorate in Systems Theory that he applied to economics.

On his deathbed in 2005, Harvey Bernard heard claims about NESARA and denied NESARA had been enacted into law.

 But here’s where it gets REALLY crazy: The title of Bernard’s NESARA proposal is Draining the Swamp: Monetary and Fiscal Policy Reform.

US Federal Reserve merged with Treasury

One of Trump’s top three slogans is associated with all of the craziness above – and we are living it now!

Godfather of the Rothschild banking cartel, Mayer Amschel Rothschild said, “Give me control of a nation’s money and I care not who makes the laws.”

 In a recent Bloomberg article, ‘The Fed’s Cure Risks Being Worse than the Disease’, Jim Bianco explains what is now happening with the Federal Reserve Bank in their response to the coronavirus. He writes, “This scheme essentially merges the Fed and Treasury into one organization, so meet your new Fed Chairman, Donald J Trump.”

 Did President Trump just nationalize the Federal Reserve Bank?

On June 4th, 1963, President John F Kennedy issued Executive Order 11110, which many believe was an effort to transfer power from the Federal Reserve Bank to the United States Department of the Treasury by replacing Federal Reserve notes with silver certificates, thereby taking the power away from the international banking cartels. Less than six months later, President Kennedy was assassinated and his move against the Fed was reversed.

 During the Civil War, President Abraham Lincoln printed $400 million worth of Greenbacks, a debt-free, interest-free money, independent of international bank control. In response, the London Times wrote that, “If that mischievous financial policy, which had its origin in the North American Republic should become indurated down to a fixture then that government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe.”

The bankers were not willing to lose power and the Bank of England went on to fund the Confederacy. Weeks prior to Lincoln’s assassination, assassin John Wilkes Booth spent time in Montreal, known as the “Confederate capital of Canada” and was found after the assassination with a banknote from Ontario Bank. Booth’s personal manager, was banker, Joseph Simonds. After Lincoln was killed, power was restored to the international banking cartel.

The National Economic Security and Recovery Act, known as NESARA was a set of proposed economic reforms suggested during the 1990s by Harvey Francis Bernard. Bernard created the NESARA proposal during the late 1980s. He sent copies to members of Congress but was ignored. In 2001, he established the NESARA Institute and published the second edition of his book in 2005, re-titling it, ‘Draining the Swamp: The NESARA Story Monetary and Fiscal Policy Reform’.

The policies included replacing the Income Tax with a National Sales Tax, abolishing compound interest on unsecured loans and returning to a “bimetallic currency” (gold and silver), which he claimed would result in zero percent inflation and a more stable economy.

There is a big buzz on the Internet that President Trump is implementing this plan. There is also speculation that this is part of a huge global economic reset, GESARA to be decided at the international World Court of The Hague. If this is true, certainly this decision has been decided years ago and we are just now feeling the effects.

The Coronavirus scare is beginning to look like a false alarm but the reaction is looking just like a false flag and it seems that when we come out the other end of this the world will be different. 

Please go to these videos at forbiddenknowledgetv.net and support the author by hitting the donate button on their site.

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.

Scott Morrison and Anthony Albanese, partners in crime, will send you to jail for two years if you have over $10,000 in legal tender

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:

  1. 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
  2. Labor leader Anthony Albanese. Demand to know:
    1. Why is it Labor’s policy to jail Australians for not using banks?
    2. Why is Labor supporting this law even though their own Senators proved there’s no evidence for it?
    3. 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
  3. 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