About 6 months ago some one noticed an obscure piece of Australian legislation that was quietly shuffled into parliament. Realizing the implications they called their Australian contacts, one of whom passed the message onto John Adams. John Adams was a former Canberra insider whom seems to have become very much at odds with current Liberal party dogma. So John took the ball and ran with it,  all the way to the senate economics committee.

The war on cash is a war on freedom and the idea that cash is significant in money laundering is laughable. There is no point banning cash to prevent criminals using it to launder money,  criminals don’t care what the law is. Banks are the majority of money laundering and the banks wrote this legislation to give them selves more power over the people of Australia.

A great comment youtube:

“So Treasury and the government think that Australians should be monitored on how and where they spend their cash (which is legal tender), while letting Chinese churn their money through Australia’s real estate without any oversight as to where it came from. Secondly, when the banks fail they will be able to make withdrawals from our savings, thus really short- changing depositors who save. What are these people thinking! I thought we had liberals at the helm. This is draconian and dictatorial.”

Links so you can follow the saga further:

https://twitter.com/adamseconomics?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

https://www.adamseconomics.com/

https://www.youtube.com/channel/UCzwmB2wn8Slp3hko2Gpj2iA