Prime Minister Scott Morrison’s announcement of the Australia-United Kingdom-United States (AUKUS) alliance explodes the myth that by standing up to China, Australia is defending its “sovereignty”.
The Citizens Electoral Council since June has been blaring the news that Australia’s banking authorities are drafting legislation in the Treasury for Cyprus-style “bail-in” powers, so that when an Australian bank fails, the savings of its deposito
No bank deposits anywhere are safe following the disastrous Cyprus “bail-in” using confiscated deposits, because this is now the standard for all future bank rescues.