Your Bank Account – Who really owns the money (hint: it’s not you)

Your Bank Account – Who really owns the money   (hint: it’s not you)    Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay.  Legislation passed in 1987, the banks own your account.

Now that I have your attention –

This step by step process of eliminating cash is exactly what happened in several previously rich countries where people today are starving – eg Venezuela. $10k will go down to 5k to 2k …… Tell your ostrich friends and inert Pastors.

The submissions to Treasury on this matter are apparently of no use and submissions must be made to the Senate committee by 15th November 2019.   It also seems that the email they have given   economics.sen@aph.gov.au  is somehow faulty – Best you post in the normal mail. An even better idea is to have each member of your family to post 1 or all of the suggested letters.

You have nothing to lose except everything and we are not expected to stand by idly –

Eph 6.   11 Put on the whole armour of God, that ye may be able to stand against the wiles of the devil. 12 For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places

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Letter 1

Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: 02 6277 3540
Fax: 02 6277 5719

economics.sen@aph.gov.au

To Whom It May Concern, 

I vehemently oppose the cash ban legislation. 

Need I remind the Government that they are simply representatives for the Australian people and must carry out The Will of the Australian people. The government does not get to make up rules and regulations to suit themselves. 

The Commonwealth Constitution of Australia 1901 defines currency as “passing or circulation from hand to hand, from person to person”. This does not allow for intermediaries ie banks, to be forcibly involved in our currency transactions. Therefore your cash ban legislation is inconsistent with our Constitution and section 128 of our Constitution makes your cash ban legislation null and void. Please remember that to alter our Constitution you need to hold a referendum of the people. Knowingly acting against our Constitution is called treason. The penalty for treason is life imprisonment.

The banks, nor the government, have the right to monitor and measure our activities. This is obviously the intended outcome of the cash ban legislation. Australia is a democracy, not a communist country. The Australian people have the power in this country, not you underhanded, slimy politicians.

I occasionally help elderly neighbours with their garden maintenance . I do not have eftpos or credit card facilities. The only payment method I can accept is cash, as permitted under our Constitution. Whilst it may be under the $10,000 limit currently imposed, the limit is not set out in the bill and can simply be altered anytime without fuss. I believe the goal is to make Australia completely cashless without any lawful power or support from the Australian people.

Cash restrictions will not remove the black economy or tax evasion. The government already have all the powers required to stamp out these activities and they do not use them. Cash restrictions will simply control the law abiding Australians. From what I have seen of the government, both past and present, you guys are so incompetent that this cashless system will be so unworkable you will force Australians back to a barter system. Let’s see how you think you can get your grubby little hands on a barter system! Let’s see how badly you cry when the tax coffers actually decrease because of your inane, unlawful and greedy legislation. 

Please do your job, act lawfully and for the Australian people, you are paid well enough. If not, please resign and allow someone else to carry out the will of the people.

Sincerely ……………………….

Name and Address

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Letter 2

Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: 02 6277 3540
Fax: 02 6277 5719

economics.sen@aph.gov.au

To Whom It May Concern,

I vehemently oppose the cash ban legislation.

Submission: by …………………………

1. The legislation is contrary to Civil Liberties! . it obviates FREEDOM . in The Commonwealth of Australia! !

2. The legislation has no practical-proven benefits!  but rather . numerous proven negatives . for the men-women of The Commonwealth of Australia!

3. The Corporate Faux Government reasons are fake!  The real reason is that customers’ money will be stuck in Banks to be utilized . in the event of a “Bail In”. or to control accounts for political reasons!

4. The legislation will not stop tax evasion!  Tax Evasion occurs primarily with large Corporations, particularly Multi Nationals! . chief facilitators KPMG + other large accounting firms!

Recommendations: (a) Educate self 

(b) Hold a Senate PUBLIC HEARING!   then 

(c) Hold a REFERENDUM and obey the result.

Sincerely ……………………….

Name and Address

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Letter 3

Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: 02 6277 3540
Fax: 02 6277 5719

economics.sen@aph.gov.au

As a taxpaying citizen I object to the proposed actions by the government to control the withdrawal of my cash from my accounts on the following grounds:

1.    It appears to me to be another “Stasi State” action by the government to suppress my civil liberties. Cash is legal tender and provided my cash is obtained legally and used for legal purposes it is none of the government’s business as to where I “store” my money ie in a bank or elsewhere, and how I use it.

2.    Privacy – what right does the government have to force me to use a bank and what right does a bank, or government fiscal agency, have the right to monitor or measure my fiscal activities?    The bill seems aimed at eventually removing cash from society and replacing cash with electronic transactions controlled by the banks. There are practical advantages of cash eg during power supply or electronic communications outages which are not unusual and where instant settlement of debt by cash is better for continuation of commerce, debt reduction, discounts etc.

4.    I do not see the need for this law as it has no perceived benefit for either the Australian public or for public administration. The only beneficiaries are the banks (private entities) and those in parliament more concerned with preserving there own status through restricting the rights of individual Australians by further government snooping with excessive penalties for non-compliance.

5.    Reasons for the proposed law are either fallacious or flimsy. Restricting cash will not eliminate money laundering, the black economy (which in Australia is relatively small by western economic standards) or stop tax evasion largely done by large corporations assisted by banks and accounting firms. Similar laws previously enacted in Europe have failed completely. The government already has sufficient laws in place to tackle these perceived problems.

6.   The proposed legislation does not provide for exemptions. These are in the regulations which are easily altered at the whim of government without compulsory parliamentary scrutiny.

7.    Government reassurances that all will be well are what Donald Trump calls “fake news.” There are no guarantees  that such will be so.

8.    Where has there been public and parliamentary discussion about these new requirements? This new procedure is being jammed down our throats by a government with a proved history of suppressing the civil rights of its citizenry particularly the right to know and to be informed and the right to protest.

Sincerely ……………………….

Name and Address