The SME Responsible Lending Misdirection

The appalling proposed changes to Responsible Lending got stalled in the Senate last week. But the Government is going to try and convince the cross-benches they should be passed for the sake of the SME sector.

However, this is absolute misdirection, as SME lending (globally as well as locally) are impacted by a range of broader factors, including the risk-weights, which explain the reason for credit rationing. It has nothing to with Responsible lending, it is just a convenient excuse to try and push the opposition over the line. Just remember the Hayne Royal Commission clearly recommended keeping the current consumer protections. And also, SME lending is in any case not subject to Responsible Lending provisions. This is a dog-whistle by a desperate Politicians keen to serve their Banking masters.

Go to the Walk The World Universe at https://walktheworld.com.au/

Help Stop the Australian Arrest of Thomas Jefferson

After our success in defeating the $10,000 cash transaction ban – the greatest economic tyrannical assault in the history of Australia, Adams is calling on Australians to join a new battle which is being undertaken in the Australian Parliament.

https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Intelligence_and_Security/ExtremistMovements

Go to the Walk The World Universe at https://walktheworld.com.au/

Ring That Bell On “Bail-In”!

Robbie Barwick from the Citizen’s Party and I discuss the important window of opportunity this week (10th Nov) to phone Senators in Canberra to press them to pass the Deposit Bail-In Amendment. This would take bail-in off the table for Depositors!

https://www.aph.gov.au/senate/los

https://citizensparty.org.au/stop-bail-in
https://youtu.be/rLWL2E4oVB4 – 2 min advert
https://citizensparty.org.au/media-releases/two-months-win-fight-protect-australian-bank-deposits-bail
https://youtu.be/UFPxSVhkKRg – DFA Live Show

It’s The Bail-In Showdown In Two Months!

Robbie Barwick from the Citizens Party and I discuss the latest turn in the Deposit Bail-In saga. We have two month before the critical vote, and its time to make our views widely known.

The Video: https://youtu.be/rLWL2E4oVB4

The Petition: https://info.citizensparty.org.au/bail-in-petition

https://citizensparty.org.au/media-releases/two-months-win-fight-protect-australian-bank-deposits-bail

Which Bank Won’t Be Bailed-In?

Robbie Barwick and I discuss the latest on Deposit Bail-In and the progress towards creating a National Investment Bank.

Senate Economics Legislation Committee’s report on Banking Amendment (Deposits) Bill 2020
https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/BankingDeposits/Report

Post-coronavirus deposits are safe with the banks, and debt for property is not a huge risk, say regulators, by Nassim Khadem
https://www.abc.net.au/news/2020-08-26/senate-inquiry-bail-in-bank-deposits-rba-household-debt-covid19/12594380

Senate committee backs APRA, Treasury on depositor protection, by James Eyres
https://www.afr.com/companies/financial-services/senate-committee-backs-apra-treasury-on-depositor-protection-20200825-p55p33

Petition: For national survival, Australia needs a national bank—now!
https://citizensparty.org.au/national-bank-petition

Webinar – Campaign for a National Infrastructure Bank – Democratic National Convention
https://youtu.be/tz2aUR-L4v4

Per Capita/CEPU discussion paper – “Postbank: Filling a Void, Securing Essential Services”
https://percapita.org.au/wp-content/uploads/2020/07/Australia-PostBank_FINAL2.pdf