On the midweek edition of WilmsFront it’s the episode you’ve all been demanding focusing on the Morrison’s Government proposed 10k cash transactions ban. My guest is Martin North principal at Digital Finance Analytics to discuss the cash ban, central bank money printing and a possible global recession.
Martin explains to myself and my audience the origins of the cash ban at the G20. The bill is Scott Morrison and the Treasury Department’s proposal, making cash transactions over 10k could see you jailed for two years. It is designed to keep the Australian people in the privileged big banks and so government authorities can track our digital moves. The mainstream media has been asleep at the wheel on this threat to our financial freedoms.
I then ask Martin about how both our Reserve Bank and the US Federal Reserve are engaging in quantitative easing to stave off a recession. This is a technical term for printing money, inflating the economy and robbing ordinary people of their wealth through the banks. It makes the eventual economic crash even worse.
We finish off by discussing the likelihood of a recession worldwide including here in Australia. Australia is vulnerable due to our dependence on immigration and goods and energy from overseas. Martin analysis of the global trade wars and energy independence policies are also shaped by geopolitical considerations.
I finish off with my own remarks on the toilet paper buying panic in Australia due to coronavirus fears, the Super Tuesday Democratic Presidental primary results with Joe Biden now the frontrunner, plus Finance Minister Mathias Cormann bizarre comments in Senate Estimates that the federal Comcar colours were changed from white to grey to move away from our colonial past.