Treasurer Jim Chalmers has committed to dumping the policy for which “old Labor” legends John Curtin and Ben Chifley fought hardest—democratic control of the central bank and the banking system.
The Reserve Bank of Australia won’t admit they are contemplating a mega-crash, but that’s what it means when they publicly announce they have the option of Quantitative Easing (QE)—money-printing.
The Citizens Electoral Council has today issued a new mass-distribution flyer on policy solutions to the oncoming global financial crisis, “The five-point program for Australia to survive the new global crash”.
On the same day last week that the Australian Prudential Regulation Authority (APRA) chairman Wayne Byres claimed that the banks had passed stress tests conducted by the bank regulator in 2017, the Citizens Electoral Council’s Australian Alert
Former economic adviser to Australia’s coalition parties, John Adams, has continued to sound his warning of “economic Armageddon”, in news.com.au on 18 June.
The urgency of a Glass-Steagall separation of deposit-taking banks from dangerous speculation, is that it is necessary to protect Australians from a financial collapse.
