15th August, 2018
Get ready for the great Glass-Steagall debate!
The bank separation debate is powering
on, despite the tendency of the Australian
political system and media to distract
the public with the most emotive and politically
charged issues, be it euthanasia or an
Australian republic. The urgent need to break
up the too-big-to-fail banks is at the forefront
of the minds of a growing number of Australians,
including political leaders.
Articles include the following:
- Greens, experts echo Katter and CEC on full bank separation
- Mortgage crisis set to explode
- The 'free market' subversion of Australia
- G20 financial engineers aim to commoditise infrastructure
- Currency crisis can trigger chaos, or new system
- Is imperial strategy driving HSBC's move to Paris?
- HSBC: The criminal enterprise facilitating imperialism
- HSBC: The bank of opium
- US-Iran confrontation can trigger a big war
- UK Defence Secretary brings 'Global Britain' agenda to USA
- South China Sea breakthrough smooths path
- Turnbull's China 'reset': all style and no substance
- Complaining won't change anything—campaigning will!
- No national direction without control over banking
- ALMANAC: Lessons for a recovery: The WWII economic mobilisation – Part I
Click here for more...
14th August, 2018
Greens, experts echo Bob Katter and CEC on full bank separation
The Australian Greens on 8 August announced their policy for a full separation of Australia’s too-big-to-fail banks. The Greens have long expressed support for ending vertical integration in banking; their announcement clarifies that their policy is for the complete, Glass-Steagall-style separation of traditional commercial banking from all other financial activities that Bob Katter MP introduced legislation for on 25 June, the Banking System Reform (Separation of Banks) Bill 2018.
“The Greens are sick and tired of regulators fiddling around the edges”, Greens leader Senator Richard Di Natale and financial spokesman Senator Peter Whish-Wilson announced via email. “They’ve been doing it for decades. That’s why we’re announcing today that the first step to fix the big banks is to break them up.”
The Greens plan goes slightly further than Bob Katter’s bill, in that it requires all financial institutions to operate in only one of four areas:
Print latest media releases as flyers (A4 PDF)
Radio interviews with CEC Leaders