Australian Governments Cash Ban

[1985VK]

Pfttttttt ... most people do not know jack about the financial system ...

 

[Nitro_X]

The term 'conspiracy theorist' gets used a lot these days.
Sometimes it is justified but more often than not it is just used as a synonym for idiot, loony or dik-head, and to shut down any serious or meaningful discussion or debate.

The information provided by the CEC, John Adams Economics and Digital Finance Analytics (aka - In the Interests of the People Youtube channel) is based on careful research and can be verified and backed up, unlike the central bankers and private bankers who are government sanctioned to create money from 'thin air' to prop up unsustainable debt bubbles and fake economies.
The above mentioned have invited anyone who disagrees with their so called conspiracy theories to discuss the issues, as yet there are no takers...wonder why?

The International Monetary Fund (IMF) one of the most secretive institutions on the planet, in terms of its function and agenda, and run by unelected bureaucrats has stated in one of their papers that abolishing cash is the only way to fully implement negative interest rates / bank bail-ins on a global scale, and fully control the global monetary system, this is not conspiracy theory it is fact.
Cyprus was a test case for bank bail-ins and Greek banks, by order of the ECB, imposed cash withdrawal limits on citizens when their government was on the verge of bankruptcy, the Greek people were not bailed out but suffered severe austerity measures, while the corrupt bankers behind the Greek financial crisis were bailed out via the ECB.
Spain and France have a €1,000 cash transaction limit, Greece dropped its cash transaction limit from €1,500 to €500.
Germany attempted to implement a €5,000 cash restriction which triggered fierce public backlash.

Can you see the trend?

These draconian policies are deliberately designed to trap citizens into a corrupted private banking system and further erode civil liberties, freedoms and privacy.
Yes, there is a conspiracy, governments, central banks, private banks and big global accounting firms (namely KPMG) are conspiring to create a fascist global monetary/banking system.
As a side note: our recent banking royal commission, which was a farce and only scratched the surface, as the big private banks were allowed to set the terms of reference, exposed the corruption and fraud of our big banks, yet, not one single bank executive has been taken to criminal court or charged with any crime.
APRA and ASIC are not doing their job, APRA receives most of its funding from the financial institutions it is supposed to regulate (conflict of interest for a government entity?)
This is the power they yield, receiving government protection and privilege that nobody else in this country receives.

.

 

[Nitro_X]

This is just scary I think. More freedom taken away. It doesn't seem like much but we have to stop taking this **** laying down.

It is very concerning.
It's a slow burn, the first step is to get the legislation passed, then it's easy sailing to do what ever they want within the regulations of the bill.
It's starts at $10,000, then $5000, then $2000, and the government of the day (and other 'stakeholders - banks/global accounting firms etc) continue pumping out the hollow propaganda that average Australians are responsible for the black economy, money laundering and massive tax evasion because we pay our barbers/hairdressers in cash or we occasionally pay a tradie mate cash to install a ceiling fan in our lounge room.
Oh and of course the ol' fallback, only drug dealers and criminals use $100/$50 notes...

The NSW Labor party recently had to hand over a $100,000 cash donation to the NSW electoral commission, that was supposedly given to them by a Chinese billionaire, apparently he wanted to deliver it in person, in an Aldi shopping bag...
https://www.abc.net.au/news/2019-09...ack-$100k-donation-at-centre-of-icac/11523808
...but according to ScoMo & Co., we, the average blue collar citizen slave workers are the big problem


I phoned my local LNP MP at Parliament House, his secretary answered, as luck would have it he just walked into his office, so I was on speaker phone with him and his secretary, calmly and reasonably explaining my concerns, but they just did not want to listen, they could not deal with it, in fact, his secretary sounded quite ruffled and agitated, then said, we don't have time for this and literally hung up on me.
They were both actually quite rude and condescending in the tone and responses....yet they are supposed to represent us, their constituents, the people.

 

[Nitro_X]

I was reading something last week stating that the cash limit only applied to business transactions and not the general public? Have I missed something?

That is correct, at this stage of the game.
You can still buy a car from a private seller for say, $20,000 and pay them with cash (*at this stage of the game)
However, if you withdraw $20,000 in cash from your bank account, regardless what you choose to do with it, your bank is required by law, now, even prior to this new bill proposal, to report this to Austrac as a potentially suspicious activity.

 

[VS 5.0]

However, if you withdraw $20,000 in cash from your bank account, regardless what you choose to do with it, your bank is required by law, now, even prior to this new bill proposal, to report this to Austrac as a potentially suspicious activity.

Reporting of cash transactions >$10k to Austrac by Banks has been in place for a loooong time.

I can't recall when it came in off the top of my head but I do recall having to complete such reports when I was a bank teller back in the 90s.

 

[WazzaVN]

It is very concerning.
It's a slow burn, the first step is to get the legislation passed, then it's easy sailing to do what ever they want within the regulations of the bill.
It's starts at $10,000, then $5000, then $2000, and the government of the day (and other 'stakeholders - banks/global accounting firms etc) continue pumping out the hollow propaganda that average Australians are responsible for the black economy, money laundering and massive tax evasion because we pay our barbers/hairdressers in cash or we occasionally pay a tradie mate cash to install a ceiling fan in our lounge room.
Oh and of course the ol' fallback, only drug dealers and criminals use $100/$50 notes...

The NSW Labor party recently had to hand over a $100,000 cash donation to the NSW electoral commission, that was supposedly given to them by a Chinese billionaire, apparently he wanted to deliver it in person, in an Aldi shopping bag...
https://www.abc.net.au/news/2019-09...ack-$100k-donation-at-centre-of-icac/11523808
...but according to ScoMo & Co., we, the average blue collar citizen slave workers are the big problem


I phoned my local LNP MP at Parliament House, his secretary answered, as luck would have it he just walked into his office, so I was on speaker phone with him and his secretary, calmly and reasonably explaining my concerns, but they just did not want to listen, they could not deal with it, in fact, his secretary sounded quite ruffled and agitated, then said, we don't have time for this and literally hung up on me.
They were both actually quite rude and condescending in the tone and responses....yet they are supposed to represent us, their constituents, the people.

Yeah I've been bothering my MP too. The first guy that answered said that the mp was interstate and had no clue about his stance. The second lady answered the phone and was pretty rude to me I asked her and she acted like it wasn't imprtand. She said "maybe he's been busy in parliament" when I asked her why he won't answer my messages. I told her he's got plenty of time to post useless **** on Facebook but why is it so hard to find out his opinion on this? I emailed him too I'm still waiting for an answer haha.

 

[Nitro_X]

Reporting of cash transactions >$10k to Austrac by Banks has been in place for a loooong time.

I can't recall when it came in off the top of my head but I do recall having to complete such reports when I was a bank teller back in the 90s.

No doubt their scope and power has been expanded in recent years.
It's more than probable there has been 'eyes looking the other way, secret handshakes & closed room deals' by insiders with wealth and power.

What's been done about the many thousands of breaches of non-compliance and reporting to ASIC by the Commonwealth bank, that were exposed in the royal commission?

From what I've read and understand, lawyers/accountants and real estate agents aren't required to report anything, apparently its been well know for quite a while Australia is an easy country to launder money in our real estate market.

 

[Nitro_X]

Yeah I've been bothering my MP too. The first guy that answered said that the mp was interstate and had no clue about his stance. The second lady answered the phone and was pretty rude to me I asked her and she acted like it wasn't imprtand. She said "maybe he's been busy in parliament" when I asked her why he won't answer my messages. I told her he's got plenty of time to post useless **** on Facebook but why is it so hard to find out his opinion on this? I emailed him too I'm still waiting for an answer haha.

Yep. The only time they seem interested or care what we think is when they're on the campaign trail during an election.
Done plenty of letter writing, mostly receive generic responses that never address my questions.....ie: fob you off

 

[VS 5.0]

No doubt their scope and power has been expanded in recent years.

So the governing Act is from 1988. You can view the amendments to it on the Federal Register of Legislation if you're after some light bed time reading.

Also, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006

 

[1985VK]

https://doublebaytoday.com/nsw-police-now-raising-revenue-by-searching-cars-for-loose-change/