The Morrison government showed its contempt for democracy and parliamentary procedure by ramming its totalitarian cash ban bill through the House of Representatives yesterday, without waiting for the outcome of the Senate inquiry into the bill.
Since the election in May, the Morrison government, Reserve Bank and Australian Prudential Regulation Authority have thrown everything and the kitchen sink at reversing the fall in house prices.
The actions of the Australian government and central bank, and US Federal Reserve, betray real desperation about the state of the Australian and global financial system.
Crisis rumblings in global financial system make stopping cash ban and bail-in urgent to force the government to reform the failed financial system, not prop it up at the people’s expense.
The Liberal-National Coalition MPs and Senators in the government endorsed the $10,000 cash ban bill in their 17 September party-room meeting; it is now likely to be introduced into Parliament this week.
Australia’s corrupt banking establishment have used their cheap home-brand toilet paper, the Australian Financial Review, to attack the public opposition to the Morrison government’s $10,000 cash ban.
