Wednesday, December 14, 2016

Owning cash in Australia to be a criminal offence soon?

Australia is one hell of a unique continent / country.

The people in government are not in office lawfully in line with a document called the Australian Constitution.

A bit like, you know, some stereotypical dodgy military organisation of a South American country taken over office, using a private militia, ruling with force, intimidation, extortion violence including  threats of incarceration.

The 'authorities' advertise this country as a democracy / monarchy whereas in reality it is a fascist state / corporatocracy / police state, depending one's point of view and which reality one is looking at that being political or legal.

Australia as a 'monarchy' has two queens, one of the U.K. a true flesh and blood woman, and another an unlawful paper entity called the Queen of Australia.

Danger, Rhetorical questions ahead:

  • So, as a 'monarchy' who are the Australian people subjects of the U.K. Monarch or the Queen of Australia?

  • So, who does our judicature answer to the U.K. monarch or a piece of paper in the annals of some government department?

Do you know the difference between the invading British Empire's settlement of Australia and New Zealand?

In short when they came to 'New Zealand' they were met with fierce opposition and British monarchy made a treaty with the native peoples, called the Waitangi Treaty.

Queen Victoria even stated that there is a special relationship with the indigenous people.

On the Australian side, any opposition was quickly extinguished with gunfire and the land of the indigenous people was taken from them under arms by the 'Crown'.

Is the 'Crown' what you really think it is?

So many more questions for the Aussie bogan not to ponder over.

Australia's currency is even a huge scam.

Many a law 'researcher' has commented or documented on the validity of the current currency we have.

Why cannot one say that:

in short, Australia's 'cash' is a corporate promissory note by a hostile company in power over the people of Australia in breach of the Australian Constitution?

Is the push for cashless society is to monitor then control the movements of the slave population of this continent?

The apparent new law(?) / policy(?) to remove the current plastic $100 was to allegedly stamp out crime.

Apparently now it's to recoup billions in unpaid tax.

From who?

From the masses,

or the corporations that do not pay hundreds of millions each in tax per year, all year, every year?

With every law passed the people are being put further into slavery and subservience to corporate rule.

The criminal elite telling the slaves that they are the criminals.

Looks like the people have had the wool pulled over their eyes yet again by the 'authorities'.

See article from 14 December 2016 by news.com.au of the headline:

Government floats $100 note removal



SAY goodbye to the $100 note.
Australia looks set to follow in the footsteps of Venezuela and India by abolishing the country’s highest-denomination banknote in a bid to crack down on the “black economy”.

Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly O’Dwyer flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax.

Monday’s midyear budget update will include the appointment of former KPMG global chairman Michael Andrew to oversee a black economy taskforce. The black economy accounts for 1.5 per cent of GDP, given many cash payments are untaxed.

Ms O’Dwyer told the ABC not only is the lost revenue owed to the Australian people for schools and hospitals, but it’s also critical for those who do the right thing and pay tax.

“The whole point of this crackdown on the black economy is to make sure we close down any potential loopholes,” she said. Despite the broad use of electronic forms of payment, Ms O’Dwyer warned there are three times as many $100 notes in circulation than $5 notes.

“It does beg the question, ‘Why?’” she said.

There are currently 300 million $100 notes in circulation, and 92 per cent of all currency by value is in $50 and $100 notes.

The minister would not rule out the removal of the $100 note, saying it was up to the expert panel to provide recommendations. “There’s nothing wrong with cash per se, the issue is when people don’t declare it and when they don’t pay tax on it,” she said.



David Leyonhjelm. Picture: Mick Tsikas/AAPSource:AAP



Kelly O'Dwyer. Picture: Lukas Coch/AAPSource:AAP

The taskforce will draw on the experience of countries like France, where the government banned cash payments of more than 1000 euros. “I’m not going to put a limit on what the taskforce will look at,” Ms O’Dwyer said.

Liberal Democratic Senator David Leyonhjelm hit out at the proposal, saying “the only people who are distressed by the cash economy are the government and the public servants who want to spend taxes”.

“The incentives for a cash economy would be a lot reduced if taxes were a lot lower,” he told news.com.au. “It’s a reaction to the level of taxes we pay.”

Mr Leyonhjelm said Australia was joining a global push to make it harder to engage in the cash economy. “Whether it will succeed or not is a moot point. Carrying two $50 notes instead of a $100 note doesn’t seem to be much of a disincentive,” he said.

“But with my libertarian hat on, I think the solution is to lower taxes so the incentives to avoid paying taxes are lower.”

It comes after a report by UBS recommended Australia scrap the $100 note. According to UBS, benefits may include “reduced crime (difficult to monetise), increased tax revenue (fewer cash transactions) and reduced welfare fraud (claiming welfare while earning or hoarding cash)”.

“From the banks’ perspective there would likely be a spike in deposits — if all the $100 notes were deposited into banks (ignoring hoarded $50 notes), household deposits would rise around four per cent,” the report said.

“This would likely fill the banks’ Net Stable Funding Ratio (NSFR) gap and reduce reliance on offshore funding.”

India last month demonetised the country’s two highest-denomination banknotes in a bid to crack down on “black money”, sparking chaotic scenes.

Prime Minister Narendra Modi sent shockwaves through the country by announcing on November 8 all 500 rupee ($10) and 1000 rupee ($20) notes — some 85 per cent of all bills in circulation — would cease to be legal tender within hours.

In a scathing editorial in The Hindu newspaper, former Indian Prime Minister Manmohan Singh said the decision had “shattered the faith and confidence that hundreds of millions of Indians” had placed in their government.

“The vast majority of Indians earn in cash, transact in cash and save in cash, all legitimately,” he wrote. “Their daily subsistence depends on their cash being accepted as a medium of valid currency.

“They save their money in cash which, as it grows, is stored in denominations of 500 rupee and 1000 rupee notes. To tarnish these as ‘black money’ and throw the lives of these hundreds of millions of poor people in disarray is a mammoth tragedy.

“It is the fundamental duty of a democratically elected government in any sovereign nation to protect the rights and livelihood of its citizens. The recent decision by the Prime Minister is a travesty of this fundamental duty.”

This week, Venezuela joined suit, with Venezuelans rushing to trade in their 100-bolivar bills after President Nicolas Maduro said he was eliminating the nation’s highest currency denomination in an attempt to fight speculation and currency hoarding.

1 comment:

Trevor Mills said...

Is going to be a new power struggle of the corporate-driven political oligarchy to find another avenue of control over the people, in order for the wealthy to keep their lifestyle empire?