Glass Steagall legislation

[billy the kid]

Not sure if everyone understands GS..I will elaborate later if necessary.
Simply put there has been a senate inquiry, the result of which was to be released on the 13th May, 2019,
into the bill tabled by Bob Katter to separate the banks into two entities..saving and investing.....
This inquiry was chaired by Senator Hume, who herself is campaigning for re-election...dont know how she could
efficiently run this inquiry. She is a mole for the banks and has shut down the inquiry as the banks dont want separation.

https://cecaust.com.au/media-releases/s ... r-election

The banks have shown by their words and deeds that the potential reform they most hate is structural separation. Why? Because it will destroy their parasitical business model. When they were regulated, banks had to serve the economy, and make their profits from normal lending, to business and individuals, that helped the economy grow. Deregulated, they have been able to feed off the economy, like a parasite, and to grow at the expense of business and families. Structural separation would cut bank predators off from their prey—from gambling with customers’ deposits, and from being able to lure customers into buying products and making investments that they don’t need, all of which has been massively profitable for the banks but destructive to both their customers and the economy.

It is to shield the banks from this policy that the senator for bankers, Jane Hume, refused to extend the Senate Economics Legislation Committee inquiry into the Banking System Reform (Separation of Banks) Bill 2019, which she chairs, until after the election. When the inquiry started, it was not known that the reporting date, set for 13 May, would be five days before voting day. If the inquiry was conducted properly, it would have been extended by two or three months, to allow time for the committee to read the more than 900 public submissions, hold public hearings, and produce a considered report.

By not extending the inquiry, the former NAB, Rothschild Australia and Deutsche Bank executive is pretending she can conduct an inquiry during an election campaign in which she is also campaigning for re-election as the senator for bankers.

What a farce! Senator Hume isn’t even going through the motions of chairing an inquiry; rather, she is treating Australians and the democratic parliamentary process with utter contempt, for the sole purpose of suppressing the only legislation in Parliament that would truly reform the banks following their exposure by the royal commission as vast criminal enterprises.

Therefore when Labour win the election...we will have a fatal four way...to coin a phrase....

The GS legislation will be dead and buried...compliments of Senator Hume.
We will have Wong as Immigration Minister and she will sign the Immigration Pact, guaranteeing a flood of migrants.
If Aly gets returned in WA we will have blasphemy laws introduced...ending free speech and all "islamophobia"
The economy will collapse under higher unemployment figures, caused by Shortens promises to lift wages, which
will not be sustainable by employers.

Yep...Im really looking forward to the future under Labour...all we need is a Bank to collapse under the worldwide recession
coming our way and the shit will really hit the fan.......
BTW there is no Government guarantee on your savings...it doesnt exist......

https://bradjamesmatthews.com/australia ... l-in-laws/

Dont forget to vote.....pft....