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.
For 18 years Denise has fought, on a shoe-string budget, to save victims of mortgage fraud from losing their homes, and expose the inner working of the machinery—the so-called “black box”—that has enabled the banks to commit this fraud on a massiv
Australia’s best-known finance commentator Alan Kohler was compelled to recognise the importance of the banking separation issue, by the sheer numbers of public submissions to the banking royal commission calling for Glass-Steagall.
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”.
Glass-Steagall is the only solution to the dangerous derivatives risk building up in Australia’s banking system, and the conflicts of interests being exposed at the royal commission that enabled banks to exploit customers.
Australia’s banking royal commission could be the shot heard round the world in the global battle for nations to take back control of their financial systems from predatory speculators.