#AusPOL #HouseofReps #CashLimit
What better way to spend a Sunday night than to try and contact every member of the House of Representatives informing them of my concerns with the Draft Currency (Restrictions on the Use of Cash) Bill 2019.
Watch and join in as well, let’s flood them with concern so they all pay attention to this issue.
Dear (insert name),
I am writing to draw your attention to the Draft Legislation entitled “Currency (Restrictions on the Use of Cash) Bill 2019”, commonly known as the $10,000 cash transaction restriction legislation.
The draft legislation was uploaded for exposure on the 26th of July 2019 on Australian Government Treasure Website accessible via the following address;
Having reviewed the information provided I am concerned that the potential unintended negative implications of this legislation far outweigh any potential benefits it may provide. Specifically, my primary concerns are as follows;
1. Removing our ability to make a purchase from businesses using Ten Thousand Dollars cash is a fundamental restriction on our liberty and freedom to conduct business.
2. Forcing people into the digital banking system and depreciating the use of cash removes the safeguard money provides as a counterbalance to experimental monetary policy. In particular extremely negative interest rates. Please refer to the following link for additional information https://blogs.imf.org/2019/02/05/cashing-in-how-to-make-negative-interest-rates-work/
3. Implementation of this legislation will add burden and stress to the most vulnerable and elderly members of our community.
4. The release of this draft legislation for comment Friday the 26th of July with a short review period is not sufficient given the significant and far-reaching implications this legislation can have for generations to come.
I would appreciate it if you could let me know how you intend to vote on this Bill because I will be reporting your response to my YouTube Audience on HeiseSays. Please find the link below;
Thank you for considering my submission and please do not hesitate to contact me should you require any additional information.My letter to our representatives. (for reference)