RBA works with the banking industry when they've closed branches/reduced cash. Why? - Senate 25.3.2
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- เผยแพร่เมื่อ 5 มิ.ย. 2024
- This one will give you a headache.
The RBA admits they’re responsible for the distribution of wholesale cash and the that the banks are responsible for the distribution of retail cash.
I then ask who is responsible for the distribution of retail cash when banks close their branches, noting the Federal government is responsible for managing legal tender.
The RBA then starts passing the ball faster than Wally Lewis to anyone other than itself.
Note that the RBA, CBA and APRA all used to be one body. Today of course they are separate bodies that don’t seem to understand what their responsibilities are.
#auspol #australia #banking #albanese #labor #rba #reservebankaustralia
Let's get rid of the RBA .
What a disgusting Government.
You know what happens when you try that right?
@@axeman2638the government can no longer print ungodly amounts of money...?
@@liamrmorgans921 it's the banks creating the money, the government then "borrows" it at interest. Nothing is printed, it's all just blips in computers.
@@liamrmorgans921 Oh sorry didn't see context of your comment, youtube is terrible for that, you might want to look into the history of countries that have tried to shutdown central banks. It's never pretty.
They close branches, don't even provide ATM's, and we have no other options, The post office charges $3 a transaction,. Under these circumstances all Australians should have the right to be paid in cash, and not have our money deposited electronically.
Completely agree.
Although I doubt they print enough cash to pay migrants, let alone the entire workforce...
We need a new bank owned by the government ( the people’s )
Bank.
@@user-ne1hg3pi2b The CIA was involved with the Mafia take over of the Federal reserve that Rockerfella and Rothchilds familys own. The same CIA that run our Government in Oz from their private base at PINE GAP.
@@derekmottley3656they could in cash some years back.
@@user-ne1hg3pi2bowned by the government??? The government doesn’t even work for or represent we the people so you really think they’re going to be working for us as a bank?
Keep using cash, force the banks to make cash available.
I agree with you, we need to be pushing back to force these corporations into backing down & providing the traditional/tech banking services which individual customers prefer.
The big 4 all have Blackrock investment. Blackrocks CEO Larry Fink believes that the corporations have the social responsibility to force behaviour.
Originally it was ESG then they morphed into DEI & now they've morphed again into BRIDGE which stands for Benchmarking Race, Inclusion, and Diversity in Global Engagement.
It's all about forcing people's behaviour into accepting whatever dystopian shothole they've dreamed up..
No Accountability, that is what's wrong with the world today. No-one wants to be responsible for anything. Passing the buck has become the norm. We want cash, who is going to be responsible to ensure each & every person who wants to use cash has access? Stop passing the buck, take some bloody responsibility!
Crypto currency can also be in the form of cash soon. The Wyoming university has a LAB working on it
Australians need a bank owned by the people....cash sold to that bank at a lower rate than retail banks and remove cash totally from retail banks. Stop the banks creating credit from cash deposits and their fractional banking. If they leave the country...good...bye.
The Australian Post office bank...
The Citizens party.
If the banks don't want to serve the people by providing cash, then we should be able to stop using them.
@@DavidNotSolomon exactly Crypto is the most honest system ever known, if you can understand the tech behind it like Cardano ticker ADA
@@silversurfer5707Crypt = dead
So because the government interferes with the free market by using the Central bank to print money and do bail outs, you want to expand the power of government even MORE..?
How about stopping the Central banks from printing money and doing bailouts in the first place, and then lets see how many banks take these huge risks with fractional reserve banking etc..
Something tells me they won’t be so reckless anymore if they dont have government backing them
Why is the lady evasive and unhelpful?
That's her job, and her only skill.
Controlled and reading prepared responses, which have been pre-approved. Just watch her colleagues body language sitting next to her
shes a banker what do you expect?
They get paid by the lie.
Same as journalists
We need you senator Rennick sack Aprah
Where is he when they are passing the digital ID bill?
Cash is king, credit is for clowns
..is it that this bird is just thick as two short planks.. or just repeating the line thats been given to her....clearly not interested in solving anything!
It could be both you know.
Trained and paid to obfuscate.
CBDC will end any control of our own finances.
Unless we stop it, they can only do it if people comply, and that's the problem, cowardice and compliance.
@@axeman2638yeah, and ignorance and complacency.
That means waking up more sheeple
VP Kammala Harris without the cackle, just word salad.
Psaki
Yep completely useless to the benefit of the great country of Oz
If the banks refuse to supply our money in cash then they should deregister as banks.
Cash has declined because you have taken away ATM machines ! How hard is that to get understand? Jeezus smh 🤦♀️
They're trying to force us into the digital ID hole.
NOT HAPPENING!!
What a lier she is, the government needs to start sacking all these bureaucrat who don't have the interests of the people at heart. What's her salary? I bet it's close to a million dollars a year
A million is nothing my man
What government ??? Those we have “ elected “, or so we thought have been deceiving us for generations !!
The Australian government + ALL police are registered as a CORPORATION In a foreign country and the PEOPLE are paying them to destroy EVERYTHING + they ALL KNOW and r COMPLICIT
@@silversurfer5707 for a government worker it is. If they could make it in the real world, they wouldn't be working in a government department
The government is in on and backing the agenda. You only need to look at how the pollies vote on the bills.
We NEED a people's bank...period! Unless this happens we're at the mercy of the elites
ust before the Bolshevik Revolution erupted, Schiff gave
Lenin $20 million to further the Bolshevik cause. It is no wonder
that Pope Leo XIII wrote in his Apostolic Letter of March 19,
1902, Parvenu a la Vingt-cinquieme Anee:
Including most nations in its immense grip it unites itself
with other sects of which the real inspiration and the
hidden motive powers. It first attracts and then retains its
associates by the bait of worldly advantage, which it
secures for them. It bends governments to its will
sometimes by promises, sometimes by threats. It has
found its way into every class of society, and forms an
invisible and irresponsible power, an independent
government, as if it were within the body corporate of the
lawful state.
You tell ‘em Senator.Smug criminals.
Strip there banking licenses if they fail to provide and service cash for the Australian public
The RBA doesn't take senate enquiries seriously. A chat bot would give better answers.
That's probably what wrote the script.
Then why aren't we able to use cash? The RBA has the responsibility to ensure money supply, Someone is responsible, someone has to be, someone needs to uphold the constitution. What a joke, and it's on us.
R U aware that OZ has 2 Commonwealth Constitutions ??
@@Kelly-wf5ie No, I wasn't, someone told me that we have a corporate flag as well as a flag that's supposed to represent us. We're schizoid. How on earth can we have two constitutions?
@@Kelly-wf5ie PS Thanks
RBA has a corporate plan ?
So she admits it is private !
It's on record now.
Of course
Neither reserve or Australian
1954 law that simply states, Private financial institutions are NOT ALLOWED to BE INVESTIGATED, therefore everyone should become their own private financial institution
The RBA has been independent of Government for decades. Don't let the name fool you.
@@S.M.E.A.C
It's run from Switzerland
Must have a "Post Office People's Bank". Stuff the "retail banks".
Start drawing cash out NOW,dont let the banks lay the law down to us
Working with the industry to stop the flow of cash more like it
RBA is like the enemy within your walls in a Trojan Horse. They just keep pottering around the issue waiting for the system to crash and bring in CBD's.
Disaster for Australia, selling the C.B.A
How do you stand these crap answers as usual they don’t care pass the buck shamefull
Cash is RBA debt notes
Cash is introduced into circulation by EXCHANGING debt with another party
Calling this process “lending” is disingenuous
And fractional
I would love to see a federal bank that serves the people, face to face service and “old fashioned customer service “
The entire system is broken. I say the Australian voters take control of the RBA and the voters decide on what happens with the banks. If the banks close branches they pay a larger tax on their profits.
“Taking responsibility very seriously” should be a banned phrase……
Its becoming a go-to Platitude.
this lady looked very smug in her answers that seemed to be rehearsed
great questions that need answers Senator Rennick
Like a broken record stuck in groove!
So she says on one hand that RBA has a commitment to Australians who want access to cash CAN have access to cash then she says RBA is only responsible for the wholesale distribution to the (bank) retailer of cash and that’s where their responsibility stops… double speak, gaslighting bs is what I’m hearing senator
Contradictive as usual and Not good for Oz, so why do we allow it, especially when they clearly violate conspiracy laws and the Australian Constitution that is still real until a referendum is made to dissolve Australia's Original Constitution. This is why The Australian Constitution has NEVER BEEN TAUGHT or MENTIONED in the Australian Education Curriculum. Purposely left out by Secret Societys running Australian in a treasonous conspiratorial way. Thats why they made the word conspiracy a dirty word that everyone is too scared to say due to their own EGO and DOGMA in Australia everyone is guilty of EGO. Ozys are so egotistical that they prefer to live in a fantasy land. Like Alice in wonder land.
..because they are delivering on the elimination of cash access. Same thing across the ditch in NZ.
BULLSHIT I WENT TO WITHDRAW 20K CASH AND EVEN WITH GIVING A WEEKS NOTICE NAB BANK STILL COULDNT GIVE ME THE CASH
@davidnetherway4734 that's because they don't have it. If we all gave banks notice to withdraw our money you can bet your boots they haven't got it. It's a scam. Did they say why they couldn't give it to you?
Grab it while you still can and turn it into crypto currency, Cardano has the BEST TECHNOLOGY
Their long-term stability of the eco-system is CBDC - cash use has declined because you cannot get it!
The cash supply has always been controlled to within an inch of our lives, so nothing new there, this is planned, has been for years, we've just cruised into it, then hit the iceberg.
Nah Cardano Crypto is the BEST ADA all the way
We are also responsible for withdrawing cash very regularly. Thankyou again for standing up to these imbosiles.
Thank you Senator Rennick. A typical case of the long term bureaucratic system giving the short term people’s representative system the bird. And they know super smugly how the cycle works & how to get away with it. Time for a change. 🙏
How's there a Problem with Cash after all these years , Oh how silly of me i forgot Albo takes his Orders from the WEF
Banks are insolvent.
RBA prints the cash for them.
Once again thank you Mr Rennick for highlighting responsibility shifting in the institutions. What are we to do?
Weasel words. We’re working …..range of stakeholders …….ensuring stability.
Bureaucracy is about inputs not outputs. Bureaucrats don’t care if there is no service, results or outcomes.
Biggest scam
Have a look at who has invested heavily in our 4 banks. Black rock, Vanguard, two of the most avaricious corporations in the world. Guess who allowed them access to control these companies ?, politicians of course.
Who sold the Commonwealth Bank which kept the other banks on a lead ?, Paul Keating, Labour.
We have only a handful of politicians who are genuinely trying their hardest to get through to Australians the government is not interested in
Your problems, or the country’s, they’re too busy trying to carry out their real masters wishes and the nation is coming awake to it.
Thank you once again Senator Rennick.
There is a lot of finger-pointing with no one wanting to take responsibility.
Just open casinos and strip clubs in the regions. Then the reserve bank will transport cash to these areas
What a burden it is to any corrupt entities having to waste their breath on answering any questions ftom a senator enquiring on behalf of the public.. that by law have to pay them
There are five different paper notes and six different coins. A normal wholesale business has a far greater product line to keep track of. When it comes to security, cigarettes and alcohol are moved all over the country. How complicated can it be?
Can’t say this enough and have repeatedly said it over the last 30 years: KEEP YOUR MONEY AS CASH 💰 the multinational bank companies will eventually turn it into leverage for forced social behaviour via a single app on your phone. Sounds familiar? 🇨🇳
Thank Christ for you, Sen. Rennick! Wooh! You're our man.
"Cometh the hour,,, cometh the man."
___________________________________________
Digital id is the first step to going cashless
Australia Post tried a peoples bank and the CEO got sacked because of her efforts to establish a peoples bank for the regions. That demonstrates how much big business owns the government.
People would do well read a small ebook (readily available on the net for free) titled: "The Story of the Commonwealth Bank" by Amos.
The Bank was begun by the Commonwealth Parliament which provided a 10,000 Pound grant to Dennison Millar to start a people's bank, which he did by using Post Offices as branches.
The RBA on the other hand is owned by overseas interests and has nothing to do with the Parliament in either jurisdiction.
Keep on them mate
In every argument the RBA, Banks and governments blame the people for the lack of cash transactions. This system has been deliberately forced upon us slowly over the last 25 years. We didn't ASK for cash to disappear. We learnt to change our behaviours because we were (still are) penalised if we don't tow the line with digital transactions. It's time for a new people's bank. By the people, FOR the people.
Thanks goodness that Rennick is till there - he such a smart man.
Why do we pay retail price for cash when we should have wholesale price? What the hell is the government doing FOR the people???
International concerns WHY???
yeah good point
They never give a straight answer 😢
Thankyou Senator. Well done
Her final statement was chilling. Calling the industry players and mentioning the word sustainable at the end is a signal to the WEF.
It’s all a game to them
Senator Rennick have your heard? 20th May
Either NAB? and or Macquarie bank? going cashless and closing 56 branches in WA. The other B4 banks will follow suit, what is the Fed Gov going to do about this?
Good on you senator. You make us feel less like C/ theorists and more like aware intelligent humans in spite of state indoctrination sorry "education."
We all know they want to get rid of cash. Here in the Netherlands papercash alternatives are being set up, ie "the Florijn", in all about 5 or 6 alternatives are being developed. Here too....who can you trust. Health and wisdom to all, Erik the Netherlands
Hiding behind semantics
Peoples bank and a government for the people but all we have is the opposite?
We live you Senator❤❤❤❤
So she admitted the RBA is corporate
Humans seem to be a strain on the banking system...
We can't produce enough profit for them...
Lift your game, humans... The banks have got money to make
Thank you senator Rennick asking all right questions Australia needs and appreciates u at these hard times god bless u
Make australia post a public bank.
So who is going to make the banks accountable to make cash available for we the people. Step up to the mark earn yr salary for once. Stop yr waffle. We can see straight through you Lady. Thank you Sen Rennick. 👍👍👏👏👏🇦🇺🇦🇺🇦🇺
Yearly salary is only for dummy's that don't understand how the slavery system works
There's that word again. Substainable.
We could set up a new RBA and new CBA that follow the rules they are supposed to abide by. or perhaps redefine what Australian banks are.....Private money pits.
RBA... Paying off China.
You're asking the wrong people mate. The Central Bank's job is never to look after the best interest of those who transact in plastic cash notes and coins because they have this view that industry and overseas connections come before the pursuit of happiness by law abiding men and women of the land. The fact that banks don't hold physical precious metals as the lawful form of tender demonstrates the unlawful nature of the banking industry as a whole including the RBA themselves.
Simply tell us what you are doing ?
All bs doing absolutely nothing but don't tell anyone.
Cashless society is the only goal. 😈👺
On radio & youtube Gerard, good speech on the b.s. that labor just keeps serving up to the Australian people. Like you say labor are looking after their mates,etc.Transparency & accountability is needed.
Why dont the Government start a new Government bank?
Because they will just rip you off regardless. The problem is the banks and the government who is made up of Traitors, top heavy. Only a very few good guys like Senator Rennik exist.
RBA runs the government
Buy Bitcoin people...
Well done Gerard.
So the RBA is purely there to serve the private industry of banking, but not the people of the Commonwealth of Australia? Why are they called the Reserve Bank of Australia when this is obviously not the case? Our country needs to get rid of central banking & bring the control of our wealth back to the Commonwealth of Australia.
I complained about the RBA being fraudulent about 10 years ago and i reported it to the FEDERAL POLICE bacause its NOT ALLOWED to be reported to anyone but did the Federal Police every answer my complaint. NO the Australian Federal Police to this day have DONE NOTHING about my complaint, not even a reply except they made me agree to allow them to investigate me instead, before i was even allowed to lodge my complaint.
@@silversurfer5707 sounds like the federal police are working for the same foreign corporate entity that operate the business known as rhe "Australian Government". Check out "Steven Spiers " & "Locusts & Honey"
Interesting answers from the RBA... it went from we only provide wholesale cash to... we don't have a solution we're working with the industry.
You have the solution right there Senator... crack the whip! RBA seem to make the simple straight forward solutions appear complex.
Her SCS is off the charts
We should go back to gold, silver and copper. Take our money back from government and central banks.
Nah too inconvenient and will end up the same way in the end but a certain Crypto currency called Cardano ADA is the best answer. I have studied this situation most my life and found the Swedish system the best today but i believe Cardano crypto is better especially when the Wyoming university turns crypto into cash.
Is it possible for any govt dept to actually do what they paid for, like we all do every day? Where are the other politicians? Their gutless, silence is deafening
BANKING GUARANTEE NOW
All I hear is Charlie Brown’s teacher.
I’m a young Australian with a small family and feel so robbed.
All this money printed has completely ruined the dream.
What will fix this division net gearing is costing the tax payers at the cost of my baby girls.
Yet let’s make sure MSN plays more sports than science and maths.
You don't concern them.
The Chinese invasion doesn't even concern them.
Teach your kids Vortex Based Mathematics, the 4 other other forms of math are 2 dimensional and do NOT fit a 3 dimensional existence.
@@silversurfer5707 please tell me what you mean I’m a smooth brain
".. the Reserve Bank can also transact in Australia's money markets to affect the supply and demand for cash to steer the cash rate close to the target."
Australia Post..already have infrastructure and have done it before...Commonwealth Bank..true to its name is what is needed here...I'll do it.
I wonder if there is a deadline for the answer to this 'complex situation '. Merely saying "We're working with" translates to an open ended "we're not there yet" and holds no accountability whatsoever.
This morning on the Today Show they announced that 'cash isnt king' almost with smiles on their faces like its some type of achievement.
What the heck is wrong with these people?
Absolute clowns.
That RBA liar is just weezeling out of her responsibilities to the people !!! Keep going at these lying corrupt organisations Senator
"Computer says...cash off"
When I draw cash out a lot of the notes are old. Seems the RBA have been half way through making new notes available for quite a bit longer then other times?
Imagine leaving the rolling out of cash to banks who are working against cash being part of the status quo as we Australians know it.
Once again Australians are being dupped by the government and its agents.
Here we go again with “overseas models” quoted by RBA with no actual solutions to the looming disaster of no cash in small towns and no banks !!
Gov is not doing its job...cash is king keep it that way
Having our post offices practice banking services might be a good idea, I believe Japan does something similar. I believe the last auspost manager (forget her name atm) was already doing this until the banks set Morrison onto her.
Correct and put a migrant in charge with an enormous bribery pay to do their evilness.
Auspost is a government service. With the terrible state of affairs, I would rather not have more government control.
Selling the notes? WTF…are we being ripped off at every level?
Cheers mate👍🏻✌🏻
Country town NE Victoria Mansfield. We have regular power outages here, to the point that many larger businesses have invested in large diesel generators to keep trading. But many businesses do not have this capacity, and to keep trade going when the power is out, then cash is the only option. I have had to trade in cash with hand written receipts several times over the last few months, as I trade with small local businesses for my own business.
Obfuscation again? Yup! As expected. They will be judged by their actions not their words.