Glass-Steagall is the only solution to the dangerous derivatives risk building up in Australia’s banking system, and the conflicts of interests being exposed at the royal commission that enabled banks to exploit customers.
Australia’s political class is quick to criticise the Chinese Communist Party (CCP) for its control of China, but when it comes to foreign policy, Australia is no less a one-party state.
As the furore over Chinese interference in Australia rages, take a moment to consider exactly what we fear may be the result of alleged Chinese meddling in our pristine political system. What’s the worst that China might influence us to do?
Australia’s banking royal commission could be the shot heard round the world in the global battle for nations to take back control of their financial systems from predatory speculators.
Behind their public admissions that it was a mistake to oppose the Financial Services Royal Commission, the banks and their political stooges are already strategising how to ride out the storm.
