12 August Is The Deadline!

A quick reminder that the draft legislation relating to the restrictions on cash transactions which the Treasury released for comment recently, and was the subject of our recent shows, has a deadline of Monday 12th August.

Email: blackeconomy@treasury.gov.au with the subject line:
Submission: Exposure Draft—Currency (Restrictions on the Use of Cash) Bill 2019

This bill proves the necessary preparations for negative interest rates in Australia, meaning money in the bank could cost savers!

There is a clear link between the restrictions on cash holding and cash transactions and negative interest rates. Indeed, the IMF, and other organizations admit that without such cash restrictions, negative interest rates, (perhaps as low as 4%!) will not be effective.

One of our viewers prepared a brief flier which he hopes may be useful to help raise awareness of this critical issue. Its available here. Share as widely as you can. Remember the deadline is 12th August!

Screen shot of flier – note click on image to access live linked document which you can view or download

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

3 thoughts on “12 August Is The Deadline!”

  1. Martin,
    None of the links concerning the Cash ban petition seem to be working.
    They are not live, and don’t activate anything.
    This may be a hacking!
    Warm regards,
    Merlin Geikie

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