Cash bans are coming to Australia

Discussion in 'Current Affairs' started by Alfie, Sep 19, 2019.

  1. Alfie

    Alfie Member

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  2. Alfie

    Alfie Member

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    They are organising listeners to join a delegation to visit your local MP
     
  3. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Just saw this on Twitter:
    "John Adams
    @adamseconomics
    HOPELESS! ‍♂️
    A Coalition MP told me that he was unaware that the $10,000 CASH BAN had PASSED THE HOUSE OF REPRESENTATIVES!?!
    In response, I referred him to Hansard which states that HE VOTED FOR THE LEGISLATION!
    Politicians on $200k+ are BLINDLESS PUPPETS that VOTE AS TOLD!"
     
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  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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    What an absolute joke. Prime reason why I want my tax dollars back, so they don't fund blatant wasting of public positions like that.
     
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  5. Jason1

    Jason1 Active Member

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    i send my local MP an email about it, i got this in reply, maybe interest to people likely be generic in reply to this to what others have received from their MP? Im not sure
    anyway

    "Good morning Jason

    Thank you for your email.

    The Black Economy Taskforce Final Report found that large cash payments can be anonymous and untraceable allowing businesses to under-report their income and to offer consumers discounts for transactions that reflect the businesses’ avoided obligations.
    Under this legislation, the cash payment limit will apply to transactions where one of the parties is involved for business reasons or for the purchase of real property. Australians will continue to be able to use cash to pay for transactions that are less than $10,000 each.
    The cash payment limit will help to disrupt organised crime syndicates, who try to launder cash from the proceeds of manufacturing and selling drugs and other serious crimes through the legitimate economy. The cash limit will make it harder for them to do so. The Government is committed to providing our intelligence agencies with the tools and laws that enable them to disrupt these criminal activities. It is not foolproof but we still have a responsibility to apply pressure wherever possible.



    Transactions for real property present a high money laundering risk. Criminals have been known to use these transactions to clean proceeds of crime into the legitimate economy. The cash limit will make it illegal for individuals to buy houses with bags of cash.



    Due to these risks and costs in holding cash, it is likely that participants of a transaction in large cash payments are doing so to either reduce their tax bill by under-reporting their taxable income or by engaging in criminal activities by exchanging cash for assets. The penalties provide a balance between money penalties to deter the use of cash transactions to avoid tax obligations and jail for individuals and businesses involved in organized crimes.



    There are many misconceptions about the cash payment limit. The cash payment limit will not affect families providing gifts of cash or an individual selling or buying a second hand car for personal use to another individual. Australians will continue to be able to deposit and withdraw $10,000 or more in cash into and from their bank accounts, and to store $10,000 or more of their money outside a bank.



    Under the Bill, the cash limit is $10,000 and any changes to this limit will require the agreement of Parliament to pass legislation to set a new limit.



    I have also attached a fact sheet about the cash payment limit for your further information and I thank you for raising this matter with me."


    here is a screenshot of the included factsheet from the email from my local mp, Sorry the File sent was a PDF and so I took a screen shot and had to split it in two so it could be read easier in JPG.
     

    Attached Files:

    Last edited: Nov 6, 2019
  6. ozcopper

    ozcopper Administrator Staff Member

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    Yup, that is a usual "palm you off" drivel reply if ever I saw one!
     
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  7. milled

    milled Active Member

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    I'd like to see the evidence for this from other countries which have imposed such a limit. Last time I looked, France then tried to squeeze the last drop out of their population causing widespread riots. Wonder how much the riot police cost and the lost taxes from blindness caused by eye injuries to protestors from rubber bullets.

    It seems very dull to think organised crime syndicates are not organised enough to send the money elsewhere, launder it more slowly over time in smaller amounts, convert it into something else for exchange.

    As usual the burden on the greater number of law abiding citizens does not rate highly enough. That this politician voted for something without knowing what was in it should be communicated to his electorate.
     
  8. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    The problem is that the govt is the biggest organised crime syndicate and they're making the rules.
     
  9. willrocks

    willrocks Well-Known Member Silver Stacker

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    I don't think they will engage in any type of rational or logical debate. They simply do not care about anything the many dissenters have to say, and therefore these politicians do not represent me and many others.
     
  10. SilverDJ

    SilverDJ Well-Known Member

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    As I said in another thread, you'd have to ban cash entirely, then you'd have to ban crypto entirely, then you'd have to ban gold and silver entirely, then ban *insert next thing*. It's turtles all the way down.
     
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  11. JOHNLGALT

    JOHNLGALT Well-Known Member

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    If you know how The Federal Reserve was created & why, you may want to skip the first 15 minutes of so, if not watch the whole video which tells you 'THE END GAME' that the BANKSTERS have in mind for us all = *TOTAL CONTROL of the world through an International Currency & you can bet your [email protected]$ it will not be real money (GOLD & SILVER). _JOHNLGALT. *TOTAL CONTROL requires the elimination of cash so that every transaction you make can be tracked.
     
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  12. JulieW

    JulieW Well-Known Member Silver Stacker

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    The cash limit is in place to fight crime.

    It is not opposed by politicians because they no longer deal in brown paper bags full of cash.

    Now the politicians have any number of digital channels; family trusts, off-shore accounts, gifts, accidentally forgotten air fares and holidays, and of course, lucky, lucky spouses whose hobby businesses are extraordinarily successful.

    Fellow peasants we should be grateful that our hard working political elite are so on top of organised crime.

    (for, as we know, the chain goes Rothschilds, Banksters, Politicians, Churches, McMafias and then us peasants who get caught and sacrificed as "an example")
     
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  13. Mud Gecko

    Mud Gecko Active Member Silver Stacker

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    Haha the governments track record of actually enforcing prohibited items is pretty piss poor. I can't see this being any different (if it were to happen).
     
  14. madaw1

    madaw1 Active Member

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    :confused:
    Even the Romans has thought they will last forever-hopefully one day everything will change.
     
  15. Jim4silver

    Jim4silver Well-Known Member

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    The cash bans are simply about control first, then tax revenue. Without cash, the gov could control people by freezing their electronic funds when they feel like it. Maybe for political speech, etc. I guess a populace that thinks banning weapons is crime fighting, will say taking away all of your financial privacy is crime fighting too. Might as well have gov cameras and microphones in every house to make sure no law violations. If you are innocent, what do you have to fear?

    All the commonwealth nations have shown a great propensity to ban anything and everything that provides citizens with any sense of independence or freedom: guns, other forms of self defense at home, banning "hate" speech, etc.

    Anyone who thinks they'll be safe with their gold and silver is living in a dream. The gov that bans everything else that brings independence can and will ban gold and silver in a second. What still boggles my mind is how other wise intelligent people fall for this? I guess if NK citizens can believe that Kim's family are Gods and such (as is taught there), commonwealth folks can think taking away so many freedoms actually makes you "more free"?

    When the $hitstorm comes, all living in British commonwealth areas will realize how not free they really are (if they haven't figured it out already).

    If the US dems and leftists get their way we will be in the same boat here in the US. I personally think we will be safe for another 4 years, but after that, we're toast.
     

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