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
from CEC, Melbourne
The fight against “bail-in” is on! The Morrison government has released for consultation a new law that bans cash transactions over $10,000. The pretext for this law is to crack down on money laundering and tax evasion in the “black economy”. This is a shameless lie! The formal recommendation to ban cash comes from “big four” global accounting firm KPMG, which is an accomplice of the world’s biggest money launderers and tax evaders. The real purpose for the cash ban is to trap Australians in the banking system, so they cannot escape negative interest rates or having their bank deposits “bailed in”.
Scott Morrison first announced this measure in the 2018 budget, originally to come into force this month, but now scheduled for January 2020. It was recommended in the October 2017 Black Economy Taskforce Report by Michael Andrew AO (who died last month), a former chief of global accounting giant KPMG. The report revealed that the strategy is to: “Move people and businesses out of cash and into the banking system, which makes economic activity more visible, auditable and efficient.” (Emphasis added.) It gives the game away by noting that it may benefit “financial stability and the effectiveness of monetary policy”—code for policies like bail-in and negative interest rates. To achieve this it recommended: “Moving to a near cash free economy. A $10,000 economy-wide cash limit should be introduced.” But $10,000 is just the beginning: in June 2018, just after Morrison announced it, KPMG was already lobbying Treasury to lower the limit to $5,000 or even $2,000.
Deception and stealth
When Morrison released the exposure draft of his bail-in law in 2017, he did so on a Friday afternoon when there would be no media attention. Only a sharp-eyed CEC staffer spotted it and recognised it as bail-in, enabling the CEC to mobilise a massive nationwide campaign against it which continues to this day. The government is being equally sneaky with this law. Treasurer Josh Frydenberg quietly released the exposure draft of the legislation, called the Currency (Restrictions on the Use of Cash) Bill 2019, last Friday afternoon, 26 July, and has allowed only two weeks for public comment.
The exposure draft of the bill has two notable features:
- It bans ALL cash transactions over $10,000, enforced with a penalty of two years jail;
- Division 2 is blank, containing only the words “To be inserted”.
What is the government hiding by releasing an incomplete draft, on a Friday afternoon, and allowing only two weeks for public consultation?
The deception doesn’t end there. In its explanation of the law, the government has sought to make it palatable by emphasising that there will be exemptions to the cash ban, including depositing and withdrawing cash in banks, and, curiously, most consumer-to-consumer transactions, such as for a second-hand car. However, the exemptions are not in the legislation. They are in a separate regulatory instrument to be issued by the Minister after the legislation is passed. This means that they are not permanent, but that in the future, the Minister will be able to scrap the exemptions without requiring new legislation. This is the “salami tactic”: first pass the law in a form that is politically palatable, and then slice off key changes. In a bail-in scenario, for instance, under the current regulation people fearing bail-in may withdraw all of their money from the bank, but the Minister will be able to issue a new regulation that suddenly stops people from withdrawing more than $10,000.
Not about money laundering
This law is emphatically not about controlling money laundering and the black economy. The vast majority of money laundering and tax evasion is done by banks and corporations, not individuals. And who helps banks and corporations do it? The big four global accounting firms, including KPMG, whose boss Michael Andrew recommended this cash ban! The big four literally write the tax laws that enable corporations to evade tax, and dominate the offshore tax havens like the Cayman Islands that exist for tax evasion and money laundering. When Michael Andrew was the global boss of KPMG—the only Australian ever to lead the worldwide operations of a big four firm—two of KPMG’s biggest clients, British banks HSBC and Standard Chartered, were caught in 2012 by US authorities in massive money laundering operations. In other words, KPMG assisted its clients to launder money, but is using money laundering as the excuse to take away the rights of Australians to use cash!
The real reason: bail-in and negative interest rates
Money laundering and tax evasion are nothing new, that they would suddenly require this “solution”. What is new is the plunge in the public’s confidence in the banks, especially since the global financial crisis. But instead of properly reforming the banks to restore the public’s confidence, through policies such as Glass-Steagall, which separates normal banking from the financial gambling that causes crises, authorities around the world have resorted to insane and in fact criminal measures that further destroy confidence in the banks.
The two most egregious measures are the criminal bail-in policy and the insane move to negative interest rates; bail-in steals deposits to prop up failing banks, while negative interest rates force customers to pay to keep their money in the bank. Both are coming to Australia. Morrison snuck his bail-in law through the Senate in February 2018 with only eight senators present in the chamber and no recorded vote. The Reserve Bank of Australia has aggressively slashed interest rates to 1 per cent, and in the banking crisis that is brewing right now they will feel compelled to follow countries like Japan and Switzerland down past zero and into negative territory, as the International Monetary Fund is recommending.
Both bail-in and negative interest rates destroy confidence in the security of bank deposits, which motivates people to take their money out of the bank and hold it in cash. This is the experience in Japan and Europe. So like some European countries, Australia is banning cash to force people to use the banking system so they cannot escape these policies, under threat of two years jail.
Fascism is the use of state power to benefit private corporations; by definition, this is a fascist assault on the freedom of Australians to use cash and not private banks. The CEC is calling on all concerned Australians to demand the government scrap this law and reform the banking system instead!
What you can do
The government has allowed only two weeks for submissions, in order to avoid scrutiny. Don’t let them get away with it! We have until 12 August to swamp Treasury with letters and emails, demanding they drop this law. Write an email or letter today to the Treasury: state your objection to any law that removes your right to use cash, and demand the government restore confidence in the banking system by properly reforming the system, not by trapping people in the system so they can’t escape policies like bail-in.
Email: email@example.com with the subject line:
Submission: Exposure Draft—Currency (Restrictions on the Use of Cash) Bill 2019
Address written submissions to:
Black Economy Division
Parkes ACT 2600
by Peter Gargan in WA
The “Stinkin Thinkin” that underpins the left of Australian Politics is that Almighty God is elected to the Parliament of the Commonwealth, and that he also is elected to every State and Territory Parliament with unlimited power, to use and abuse the electorate as it deems fit. The “Stinkin Thinkin” introduced by Whitlam, followed by Fraser, and continued by every Liberal-Australian Labor Party –Greens Coalition Government since, is that once a Parliament is elected it has a divine right to govern as it sees fit.
However like Mighty Mouse, confronted with a Tiger, it has and looks pathetic when push comes to shove. This “Stinkin Thinkin” has permeated the United Kingdom, the European Union, and is of course in force in China, which on every occasion when united has sought to expand. Donald Trump has ended the “Stinkin Thinkin” in the United States of America, and Scott Morrison ought to be given a chance to end it here. Unless the Parliament of the Commonwealth asserts it superiority by getting its identity correct, and the Paramount Parliament, chaos will continue for another three years unless a minor party, the Great Australian Party gets enough Senators to ensure sanity returns.
While it is a lovely dream to think that we elect Almighty God when we elect a Prime Minister: it aint necessarily so. Bill Shorten inane question to Scott Morrison about whether homosexuals go to hell, exposes his absolute lack even though he is a lawyer, of the first question any lawyer asks, when confronted with a court. Has this Court jurisdiction? The wonderful great big court of public opinion, in which we have a contest for Prime Minister, and lots of little contests for individual seats, is being led astray by a silver tongued lawyer, who presumes that the Australian Electorate is equivalent to Almighty God.
Shorten is supposed to say the Lord’s Prayer, every day he sits in the Parliament of the Commonwealth. No one has asked him if he does. I am sure his vision of heaven is a carbon free Australia, but without a World Referendum, Mr Shorten and his fellow dream merchants are urinating into the wind. The pandemonium that followed Whitlam’s election in 1992, and permanently damaged the Commonwealth, should not be repeated, in 2019. Only Almighty God can change the climate, and with over a billion Indians and more than a billion Chinese, all breathing out 2.5 pounds of carbon every day, only a nuclear war between those two superpowers can save the planet from Carbon Dioxide. That is if Carbon Dioxide is the villain Bill Shorten thinks it is.
My comment is that Bill Shorten made the same mistake as Mark Latham when he attacked Scott Morrison for his Christianity. Australia is still a Christian country albeit under attack. On Saturday the majority of Christians will smash Shorten and the Greens and endorse a return to the Constitution and its Christian roots. Take the five dollars the bookies are offering, because Almighty God always wins.
What sort of a question is it when the Leader of the Opposition wants the Prime Minister to talk for God Almighty, and decide who goes which way in the afterlife. Good on Israel Folau for sticking to his Christian beliefs, He may have just gifted Morrison an election!!
One question Bill Shorten and his lawyer mates need to answer: Since when did Almighty God appear on the ballot paper? Only Almighty God decides who goes to heaven or hell, not the Prime Minister. Does Bill Shorten believe he will become Almighty God and with his mighty wand end Climate Change, decide who goes to heaven or hell, and create all the gold he will need to keep his promises. There are 17% still undecided. How will they vote!!!!!!
Europe is burning wood to generate electricity, and the carbon released as Carbon Dioxide is not counted!!!!! Of course it is not counted as it is from the earth and when the ash is returned to the earth, the trees grow again and repeat the cycle. A biomass base load Power Station situated in the vast eucalyptus forests of the Savannah woodlands of Northern Australia would provide a renewable power source of unlimited potential.
Richard Marles, Mark Dreyfus, Penny Wong and Bill Shorten are all lawyers, and are assuming that if elected on Saturday Bill Shorten will become Almighty God and decide who will or will not go to hell, and who will not or will suffer from the actions on Climate Change. It is an insufferable imposition on Christians and Muslims alike, and the very worst kind of bullying, to attack the faith of a fellow Australian.
By having Her Majesty, Queen Elizabeth the Second the Queen of the Constitution of the Commonwealth as Sovereign, only a referendum can impose atheism upon the people of Australia. The Great Australian Party which is making the Commonwealth of Australia Constitution Act 1900 and Commonwealth its central policy, is a complete answer to this type of bullying, and Senator Rod Culleton and his team ought to be elected to the Senate to finish the job of returning law and order, as a civil and political right under the Constitution.
The legal profession which numbered among its number 23 Liberal Party members, and 23 Labor Party Members, and one Green in the House of Representatives and sixteen lawyers in the Senate carried bullying to an extreme, when Senator Rod Culleton as he then was called for a debate on the Judiciary, which are exclusively lawyers, in the Senate on the 1st December 2016.
The Turnbull Government carried out that bullying, by instructing the Australian Government Solicitor and its counsel in the High Court to mislead and deceive the High Court, by excluding admissible evidence, and mislead and deceive a Federal Court of Australia Judge in Perth, about the obligations of the Attorney General who was at the time Senator George Henry Brandis to obtain an adjournment on the 19th December 2016.
Banks and other criminal corporations have been using Bankruptcy for around 53 years to bully victims out of their day in a fair court with judges, as guaranteed by S 79 Constitution, and Bill Shorten’s arrack on Scott Morrison for his Christian views, is a full frontal attack by lawyers on the Christianity of Her Majesty, Queen Elizabeth the Second, the Queen of the Constitution of the Commonweal and is part of this widespread and systematic bullying policy.
Comment from a reader:
I am still coming to grips with the DEAL HE(Morrison) MADE WITH INDONESIA…”OPEN BORDERS” AS REPORTED IN THE GELLER REPORT ON THE 3/9/2018 “OPEN BORDERS” “FREEDOM TO MOVE” TO MILLIONS OF JIHADIS..!!!! HOW TO STO THIS INSANE MOVE BY THIS PARTY VOTED PM.. WHICH IS TOTALLY CONTRAVENES THE
COMMONWEALTH CONSTITUTION of AUSTRALIA of 1901. ALLEGIANCE TO THE AUSTRALIAN PEOPLE TO SERVE AND PROTECT AUSTRALIA…HE HAS BREACHED HIS POWER…
THE GOVENOR GENERAL MUST DISSOLVE THE GOVERNMENT AND CALL A GENERAL ELECTION …..
S. Kidman & Co Ltd has pastoral leases covering 101,000 square kilometres in three states and the Northern Territory. Kidman cattle stations produce grass-fed beef for export to Japan, the USA and South East Asia.
20 April 2016: KAP Leader and Federal Member for Kennedy, Bob Katterhas today expressed his disgust at the LNP Government delaying the decision to sell off Kidman and Co to the Chinese until after the likely Federal election on July 2. He has warned Australians that the LNP will sell off our country – the question is ‘will it be before or after an election?’
“The Government can ‘kid’ some of the people some of the time. They can ‘kid’ some of the people all of the time. They can ’kid’ all of the people some of the time but they can’t ’kid’ all of the people, all of the time!” Mr Katter said.
It was reported today that Treasurer Scott Morrison has avoided making an election issue of the Kidman & Co cattle empire sale to the Chinese by delaying the decision until after the election. The $371 million sale of Kidman & Co cattle empire in the N.T equates to roughly 1.3 per cent of Australia’s total land mass.
Mr Katter said, “Anyone who would accept this cynical manoeuvre by Scott Morrison is not a patriotic Australian. You absolutely know that the Government is going to flog off a giant pastoral area in the Northern Territory to the Chinese.
Why did foreign powers in the forties try and invade us, when you can just simply buy us? And the LNP and ALP are selling us very cheaply.”
Mr Katter recalls a front page of the Australian Financial Review last November as a canary in the coal mine for Chinese buy of Australian agribusiness:
“On the front page of the Fin Review (9 Nov 2015) there’s Josh Frydenberg with the Chinese port owner handing out $5 billion, ‘Foreign investors tempted with $5b Top End development loans’ was the heading.
Please… fellow Australians wake up and stand up. The LNP and ALP are selling out your country from underneath you. You will have no resources that can earn you any money and you will be under the iron first of Chinese corporations, almost all of who are controlled by the Chinese Government.
Anyone who thinks the Kidman purchase is where it‘ll be stopping, believes in the tooth fairy.”