Will The Banks Defy Parliament And The People?

After the Senate Inquiry in Bank Branch closures was launched last week, I chat with Robbie Barwick from the Citizens Party about the processes leading up to the result, and the path ahead.

Importantly the Senate wrote to the Banks asking them to stop closures whilst the inquity runs. In addition, submissions are open until end March 2023. Make sure you make your voice heard!

This has the potential to change banking in Australia forever!

2GB hits Anna Bligh: “Listeners feel absolutely blighted” by banks closing branches

Robert Barwick on 2GB: Banks closing regional branches

Senator Gerard Rennick and FSU National Secretary Julia Angrisano on 2GB: Bad banks to be hauled before Parliament

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  1. If the banks are forced to keep open branches that aren't commercially viable, they will attempt to recover that loss by increasing prices on other services. Good news for the people affected by branch closures but in principle I support less government involvement in free markets, not more

  2. And you still dont think Bitcoin is a viable solution to our financial system? A censorship resistant, self sovereign form of money outside of any government and bank!

  3. These banks know that in 20 years or so time, banking will be done on a blockchain. Forcing bank closures and CBDCs upon the people is their way of trying to keep control. Keep up the good fight!

  4. The National Party is disgusting as regards banking policy. Also the Liberals were a party to the closures of banks over their 10 or so years of government.
    What hope is there if the Labor Party is tarred with the same brush? My regional branch has advised that they will close on the 10th of March at Victoria Point.
    No come back with regards to the ageing population. It will take at lest a 30 minute bus ride to get to the new site proposed. Then there is the return journey.

  5. Really Senator Rennick is the only person who has the guts and the Brains 🧠 to articulate the problems and solutions and he is willing to listen 👂 to other people who have Australia s best interests at heart ❤️. Thanks to both of you who have made a big difference in many peoples lives and regions . Well done and thank you 🙏 🙏🙏

  6. Martin & Robbie … I lived and worked in Junee in 74 – 75 when the NSW Dept of Education said you can't get your pay as cash in an envelope OR as a cash cheque which I cashed at the Junee Bowls Club … you MUST have a bank account. I HAD to open an account at either a private business – NAB, Westpac, ANZ – or a govt bank CBA. Commonwealth was since privatised and I'm forced to have a bank account at a private business to get my Govt superannuation or pension. NB I believe in '73 in Junee there were 3 banks , 1 Bowels Club and 9 pubs … a town that had the balance right. 🤓🇦🇺

  7. As an Aussie who worked in Junee but retired in Queensland just as Anna Bligh was trashing the place she deserves everything she gets, and then some. If she shows her face on the Sunshine Coast …

  8. Chris O'Keefe … 'banks want your business but if you feel let down you should go elsewhere … ' … WHERE'S ELSEWHERE you fool? Remember in 2008 an incompetent Federal Govt allowed the big 4 to buy up their competition … elsewhere my arse, snowflake.

  9. “Whiter on the vine” is what the previous ceo of Australia post before Christine (he was also a merchant banker as well and made his name on the “whiter on the vine practice “…)) wanted to do with Australia post . There must have been a pension fund wanting to buy Australia post and having regional Lpo s would be seen as a cost of business and as such they would encourage anyone they can lobby (bear in mind their are 4-5 to one lobbyist s in Canberra compared to politicians in Canberra)never mind it is actually under The Australian constitution to ensure everyone has access to the mail ) hope this made sense.

  10. A visual analogy is this:-

    Shark = Banks
    Killer Whale = Government & RBA

    Shark is swimming along merrily like the apex predator it think it is. Until….

    The Killer Whales swim up and sound the shark and take out his liver (profit) and it dies.

    Like as is about to happen in the USA (USD) when the Fed kills off the IRS (ATO) and launches a CBDC (our RBA running trial). Legislation in US now waiting to kill off the IRS, implement a Fair Tax Bill that implements a flat 30% services tax (GST/VAT) and removes the tax on salary/wages. Give a households a Universal Basic Income to apologise for letting Company Boards replace humans with AT/ChatGPT/Digital Services and the Worldwide adoption of China's Social Credit Score.
    Handover your 🤳👆👁🧠👅🗯 ready? Thank you WEF 2023 for making us feel like walk in extras on 1984, Blade runner 2049. Feel thankful Boomers that you a rent your Grandkids age. And if you aren't selfish, sell your house, move in with kids and help them get mortgage free and build a home for grandkids. But no, bet you will say it's not my problem. Mmmmmmm

  11. If the private banks can't provide the banking services to the rural communities, the government must step in to set up a national bank to provide those services. Now it is time to take action, not talk talk and more talks.

  12. 17:07 All the reason why people should be buying physical gold and silver as a back up outside of the system. Forget crypto, they can shut it down too easily. Gold for larger purchases and 1oz silver coins for smaller purchases. The time IS coming when barter will return. I can hear the laughter now.

  13. I am a new citizen, and I have just moved to South Gippsland. I am joining the party. Watching the Royal Banking Commission gave me an ulcer, but I was only on a work visa back then. A public bank is the keystone of a FREE civilization. We need to push for 30 year fixed mortgages as well. Thank you for your work gentlemen.

  14. When the CBDC comes in, cash will have no purpose. No intrinsic value. Paper money is a credit note. If the bank had a glitch, there is no way you can prove your balance. We have been playing monopoly since 1971.

  15. I commissioned some handmade shoes from Indonesia recently.
    I tried to make a direct deposite. The back took a full week to fail to process the transaction. They then refunded me however i lost $20 due to exchange rates abd fees.
    I ended up using Paypal despite loathing that company. They basically take 10% as a fee.

    Bitcoin is the future. That transaction would have taken 5mins and cost less than a dollar. Just a matter of time before more people adopt it.
    I like cash to hold for energencies. Gold for long term stable savings and bitcoin for big transactions especially overseas and as a speculayive saving/investment.

  16. Stuff the Banks we need a Post Office Bank.
    The two most important services we have is the Post Office and the guy who empties my bin every week without both the country would come to a standstill.
    Sack Pollies and make them work at the sewage plant wading in shite something that comes natural to them.

  17. Congratulations guys. In Melbourne I notice branches are being obliterated & it has significant social consequences. At a very simple level the remaining branches sometimes are struggling to meet the increased demand & hence staff can get a lot of abuse. In small country regions having no branches is an awful problem.

    My only concern is the banking system is facing a major problem with mortgage defaults in the near future ,& hence cost cutting is crucial.

    To an extent I agree with the banks. It is reasonable to reduce branches numbers as banking has changed. Moreover there are a small number of people who refuse to change. For example my mother still uses cheques. Cheques are going to be made redundant so she now will do online banking.

    Basically guys you must be admired this channel is successfully raising issues.

  18. Banking in Australia is a criminal enterprise at best and always have least for the last 30 years anyway. Australia needs a public bank free from the corruption and greed that we have now.

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