{"id":73513,"date":"2025-01-16T01:13:03","date_gmt":"2025-01-16T01:13:03","guid":{"rendered":"https:\/\/www.biblaridion.info\/blog\/?p=73513"},"modified":"2025-01-16T01:14:38","modified_gmt":"2025-01-16T01:14:38","slug":"inoculate-against-a-peoples-bank","status":"publish","type":"post","link":"https:\/\/www.biblaridion.info\/blog\/inoculate-against-a-peoples-bank\/","title":{"rendered":"Inoculate against a People&#8217;s Bank"},"content":{"rendered":"<h1>Inoculate against a People&#8217;s Bank<\/h1>\n<p>If you think that Jewish money-power will not want a people&#8217;s bank you are obviously anti-Semitic and need an inoculation to fix that. We have a booster that will fix the problem (or a bomb ) and we intend to fix the problem while they are still children.<\/p>\n<p><strong>\u201cAustralian\u201d Race Discrimination Commissioner wants to \u201cinoculate\u201d children to combat antisemitism (1 min)<\/strong><\/p>\n<p><iframe loading=\"lazy\" title=\"\u201cAustralian\u201d Race Discrimination Commissioner wants to \u201cinoculate\u201d children to combat antisemitism\" width=\"614\" height=\"345\" src=\"https:\/\/www.youtube.com\/embed\/mcqwUzK_ACs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<h2>Submissions make a difference get yours in now<\/h2>\n<p>Disclaimer&#8230;I am not a member of the Citizen&#8217;s party but this is a good idea:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-73517 aligncenter\" src=\"https:\/\/www.biblaridion.info\/blog\/wp-content\/uploads\/2025\/01\/bank-e1736989930138.png\" alt=\"\" width=\"500\" height=\"174\" \/><\/p>\n<p>&nbsp;<\/p>\n<div class=\"fusion-text fusion-text-3 text-strong meta-date\">\n<p><span style=\"color: #0000ff;\"><strong>15 January 2025- Citizens Party Media Release<\/strong><\/span><\/p>\n<\/div>\n<div class=\"fusion-content-tb fusion-content-tb-1\">\n<p><em>Make a submission to the government\u2019s cash acceptance mandate consultation by 14 February and call on the government to establish a post office bank. See details below.<\/em><\/p>\n<p>Rumours of the death of cash are greatly exaggerated!<\/p>\n<p>After years of growing pressure from the public, the Albanese government has acknowledged Australians do not want to join the banks\u2019 cashless society dystopia, and has opened a public consultation on a proposed mandate for businesses selling essential goods and services to accept cash payments.<\/p>\n<p>The premise of the demise of cash was always false: despite the banks deliberately making cash harder to access by closing 30 per cent of branches since 2017 and ripping out 8,000 ATMs since 2016, actual cash use has held fairly steady, even since 2019 and the COVID disruption.<\/p>\n<p>The Reserve Bank\u2019s 16 March 2023 Cash-Use Cycle in Australia paper reported its annual Online Banknotes Survey showed that in 2022 \u201ccash was used by 25 per cent of respondents in their most recent in-person transaction, which is similar to the previous two years\u201d.<\/p>\n<p>This shows only a minor fall from the 32 per cent of transactions recorded in a 2019 survey\u2014despite the COVID disruption.<\/p>\n<p>It is also at odds with the RBA\u2019s 2022 Consumer Payments Survey results, which purported to show just 13 per cent of transactions were made in cash, leading to myriad media headlines trumpeting the demise of cash.<\/p>\n<p>Meanwhile, the amount of cash on issue, and being withdrawn from the far-fewer ATMs every year, is over $103 billion, which is at record highs.<\/p>\n<p>The real headline should have always been that despite the bank\u2019s best efforts to do away with it, plucky cash has held its place in the economy.<\/p>\n<p><strong>Reality<\/strong><\/p>\n<p>Now, after years of sitting on its hands while the banks have tried to do away with cash, the government\u2019s Mandating Cash Acceptance consultation paper finally acknowledges the reality that cash is both desired and necessary.<\/p>\n<p>It cites the following cohorts as most impacted by reduced levels of cash acceptance:<\/p>\n<ul>\n<li>Regional and remote areas are more vulnerable to digital outages and natural disasters;<\/li>\n<li>Older Australians who are familiar with and trust cash, and don\u2019t want to go digital;<\/li>\n<li>Low-income households without access to credit cards or which benefit from budgeting in cash;<\/li>\n<li>People concerned for their privacy and security from fraud, identity theft and digital abuse.<\/li>\n<\/ul>\n<p>This was confirmed in the hearings of the 2023-24 Senate inquiry into bank closures in regional Australia, which heard from these cohorts, and more, on their concerns about losing access to cash following bank branch closures.<\/p>\n<p>The government\u2019s stated reasons for proposing a cash acceptance mandate include:<\/p>\n<ul>\n<li>Promoting social inclusion, ensuring all Australians can participate in the economy, including the elderly, low-income, immigrants, and First Nations people;<\/li>\n<li>Enhancing payment systems resilience, ensuring cash is always available during power and digital outages and natural disasters;<\/li>\n<li>These reasons also reflect the reality expressed at the Senate inquiry hearings.<\/li>\n<\/ul>\n<p><strong>Mandate<\/strong><\/p>\n<p>The government is proposing a cash acceptance mandate for the sale of essential goods and services that includes corporations and governments, but excludes small businesses with a turnover under $10 million.<\/p>\n<p>This proposal complicates the issue unnecessarily.<\/p>\n<p>Mandating for only essential goods and services requires defining what is essential, which could be complex and confusing, reminiscent of then-Opposition Leader John Hewson in 1993 struggling to explain how the GST would apply to a birthday cake.<\/p>\n<p>Exempting small businesses, except in very specific circumstances, is also a mistake.<\/p>\n<p>As 98 per cent of Australian companies are small businesses, the exemption creates the danger that the mandate that is supposed to preserve cash could instead undermine its acceptance in the economy.<\/p>\n<p>It also takes the pressure off the banks to fulfill their responsibilities to provide branch services so small businesses can bank their takings, as the lack of banks is a major reason small businesses go cashless.<\/p>\n<p>The Australian Citizens Party is calling on the government to make the mandate universal, with only very specific exemptions, as Independent MPs Andew Gee, Bob Katter, and Dai Le proposed in their 2024 bill to mandate businesses accept cash payments.<\/p>\n<p><strong>Senate recommendations<\/strong><\/p>\n<p>The ACP is also calling on the government to finally respond to recommendations of the Senate inquiry into regional bank closures, which it is required to do within 90 days\u2014a deadline that expired months ago.<\/p>\n<p>The Senate inquiry\u2019s first two recommendations are essential to preserving cash in Australia:<\/p>\n<ol>\n<li>Designate access to banking and cash an essential service, which puts a legal obligation on both the government and banks to ensure access to cash and banking;<\/li>\n<li>Establish an expert panel to investigate the viability of establishing a new government bank, including the model of a public post office bank, which could provide full banking services through Australia\u2019s 4,250 plus post offices, guaranteeing access to cash for all communities in Australia.<\/li>\n<\/ol>\n<p>The ACP is calling on all concerned Australians to make a submission to the government\u2019s consultation, calling for the mandate to be universal and for the government to make the mandate work by establishing a public postal bank.<\/p>\n<p><strong>How to make a submission<\/strong><\/p>\n<p>The deadline to make a submission to the Treasury consultation is 14 February.<\/p>\n<p><a href=\"https:\/\/treasury.gov.au\/consultation\/c2024-604832\">Click here<\/a>\u00a0for the Treasury\u2019s consultation page, where you can download the consultation paper and make a submission.<\/p>\n<p>Email submissions to:\u00a0<a href=\"mailto:CashAcceptanceConsultation@treasury.gov.au\">CashAcceptanceConsultation@treasury.gov.au<\/a><\/p>\n<p>Post submissions to:<\/p>\n<p>Director<br \/>\nRetail Banking and Currency Unit<br \/>\nBanking and Credit Branch<br \/>\nTreasury<br \/>\nLangton Cres<br \/>\nParkes ACT 2600<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/info.citizensparty.org.au\/auspost-bank-petition?utm_campaign=media_release&amp;utm_source=enudge_email&amp;utm_medium=email&amp;utm_campaign=media_release&amp;utm_content=20250115\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to sign the Citizens Party\u2019s petition for a post office people\u2019s bank.<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Inoculate against a People&#8217;s Bank If you think that Jewish money-power will not want a people&#8217;s bank you are obviously anti-Semitic and need an inoculation to fix that. We have a booster that will fix the problem (or a bomb ) and we intend to fix the problem while they are still children. \u201cAustralian\u201d Race [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5809],"tags":[8778,14765,14766],"class_list":["post-73513","post","type-post","status-publish","format-standard","hentry","category-australia","tag-bank","tag-post-bank","tag-sovereign-bank"],"_links":{"self":[{"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/posts\/73513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/comments?post=73513"}],"version-history":[{"count":5,"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/posts\/73513\/revisions"}],"predecessor-version":[{"id":73519,"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/posts\/73513\/revisions\/73519"}],"wp:attachment":[{"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/media?parent=73513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/categories?post=73513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biblaridion.info\/blog\/wp-json\/wp\/v2\/tags?post=73513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}