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BUST THE BANKS

We will face the crisis with aggression and unity – KAP

Charters Towers Debt Summit August 31, 2015

With less than a week until the Charters Towers Rural Crisis Summit, Member for Dalrymple Shane Knuth said he has felt a groundswell of interest.

” Since we announced that a summit would be taking place I have been fielding calls from graziers and small business owners in drought effected areas all over the state,” Mr Knuth said

“The amount of people who are getting involved in this is encouraging, the rural crisis really is the issue of our time.

shane-knuthMr Knuth who will be chairman on the day with KAP member for Mount Isa Rob Katter said while the speakers at the summit will help bring context, it is a priority locals are given the opportunity to speak.

“The summit is important but the action that follows after is essential,” Mr Knuth said.

“The resolutions devised and agreed upon at the summit will form a blue print for action in rural Queensland.”

Member for Mt Isa Rob Katter who held a similar summit in Winton last year said the rural crisis committee which has since become the backbone for rural advocacy in the area.

“Less than a year on the committee has been instrumental in applying strong pressures to the government in face to face meetings, but we aren’t done yet,” Mr Katter said.

“There needs to be a stronger and more direct connection with between the cattle producers, business owners and the policy makers, we are trying to facilitate this.”

KAP Federal member for Kennedy Bob Katter who will also be part of the day has widely encouraged people from all walks of life to join to help find a solution.

Mr Katter said the current high price of cattle due to the lack of stock available isn’t a consolation for struggling farmers because they themselves have no cattle to sell.

“There are answers here, and we have got to go to those answers with aggression and unity,” he said.

“Wandering around blaming political parties quite frankly isn’t going to get us anywhere, there is a big system of power there and we must assail it on the political front, the economic front and through social media.”

Mr Katter drew reference to the story of Charlie Phillott (speaking at the summit) who’s story written by David Pascoe, went viral and became the most shared post in Australian History.

“The people of Australia are  behind us, but we have got to know clearly what we want,” Mr Katter said.

“We must fight for survival.”

AGENDA

Final Agenda Charters Towers Rural Crisis Summit

Chaired by Shane Knuth and Robbie Katter

9.30- CUPPA

9:50 – Take your seats for the morning

10:00- Opening Address and Welcome Shane Knuth MP Member for Dalrymple

10:10- Andrew Jensen chairman Charter Towers Rural Crisis Committee, Committee work and goals for the day/ House keeping

10:15- Charlie Phillott face of the crisis/ Winton

10:20 – Bill Byrne MP, Minister for Agriculture Queensland Government

10.35 – Open Questions to Minister Byrne

10:50 – MORNING TEA

11.30 – Brian Egan, Aussie Helpers

11.40 – Cate Stuart, Formerly of Mount Morris Station

12:00 – Ben Rees, Australian Agriculture, the Real Story 12:15 – Dr Mark McGovern, Summing Up

12:45 – Committee Resolutions/ Other resolutions

1:30 – Bob Katter Federal Member of Kennedy, Closing address

For more information on the day please call: 0466-7 11-527

 

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Bank deposits soon will no longer be considered money but paper investments

This weekend the G20 <http://www.examiner.com/topic/g20> nations will convene in Brisbane, Australia to conclude a week of Asian festivities that began in Beijing for the developed countries and major economies. And on Sunday, the biggest deal of the week will be made as the G20 will formally announce new banking rules that are expected to send shock waves to anyone holding a checking <http://www.examiner.com/topic/checking> , savings <http://www.examiner.com/topic/savings> , or money market account in a financial institution.

On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial banking crisis occurs. Additionally, all member nations of the G20 will immediately submit and pass legislation that will fulfill this program, creating a new paradigm where banks <http://www.examiner.com/topic/banks> no longer recognize your deposits as money, but as liabilities and securitized capital owned and controlled by the bank or institution.

In essence, the Cyprus template <http://www.forbes.com/sites/nathanlewis/2013/05/03/the-cyprus-bank-bail-in-is-another-crony-bankster-scam/> of 2011 will be fully implemented in every major economy, and place bank depositors as the primary instrument of the next bailouts when the next crisis occurs.

On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is. If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a “bank run.”

Each country will introduce its own legislation to effect the ‘ bail-in’ agreed by the G20 this coming weekend.

Large deposits at banks are no longer money, as this legislation will formally push them down through the capital structure to a position of material capital risk in any “failing” institution. In our last financial crisis, deposits were de facto guaranteed by the state, but from November 16th holders of large-scale deposits will be, both de facto and de jure, just another creditor squabbling over their share of the assets of a failed bank. – Zerohedge <http://www.zerohedge.com/news/2014-11-12/russell-napier-declares-november-16-2014-day-money-dies>

For most Americans with savings or checking accounts in federally insured banks, normal FDIC rules <http://www.bankrate.com/finance/savings/fdic-insures-bank-deposits-to-250-000-1.aspx> on deposit insurance are still in play, but anyone with over $250,000 in any one account, or held offshore, will have their money automatically subject to bankruptcy dispursements from the courts based on a much lower rank of priority, and a much lower percentage of return.

This also includes business accounts, money market accounts, and any depository investments such as a certificate of deposit (CD).

What makes this sudden push to securitize cash held as bank deposits is the pending question of whether the central banks or sovereign governments know that a crisis is forthcoming, especially in light of Europe’s rapid decline into recession, and Japan’s need to monetize their entire budget through central bank easing?

Just as people thought the ownership of gold and silver was inviolate prior to 1933 when the government ordered it confiscated <http://en.wikipedia.org/wiki/Executive_Order_6102> to bailout the banks and Federal Reserve during the Great Depression, we are all now faced with the realization that the money we thought was our own, and protected in our checking and savings accounts no longer is. And after Sunday at the G20 meeting, the risks of holding any cash in a bank or financial institution will have to be weighed as heavily and with as much determination of risk as if you were holding a stock or municipal bond, which could decline in an instant should the financial environment bring a crisis even remotely similar to that of 2008.