Banks in Australia are Attacking People's Crypto Earnings. Here's What You Can Do About it.
Basically the Big 4 AustralianBanks operate as a Cartel that Price Fixes and engages in Racketeering. There's nothing illegal about holding and trading Crypto - but Racketeering actually is illegal.
https://www.acic.gov.au/publications/intelligence-products/organised-crime-australia
Every day now we are hearing more and more evidence about the Australian Banking Cartel freezing the assets of Ordinary small Australian Investors dealing in Crypto.
Source: Altcoins News "Australian Banks Freezing Accounts Tied to Crypto-Activities". https://goo.gl/5SpHwt
Source: Finance Magnets "Australian Banks Allegedly Blocking Cryptocurrency Transactions, Freezing Accounts". https://goo.gl/eXUsv8
Source: Business Insider Australia "Australian Banks Freezing Accounts Tied to Crypto-Activities". https://goo.gl/zQhgkB
Source: Cryptovest "4 Australian Banks Allegedly Freeze Accounts over Crypto Activity". https://goo.gl/6AZNPo
This is going to hit a critical Mass. Australians are laid back in general but there's a point in time where if the Banks continue their Government sanctioned purge against ordinary Australian investors (Moms and Pops, Nurses, Tradies etc.) Then this is going to happen.
If You Want to Do Something About It Today before it gets to that stage then here is something practical, immediate and very damaging to the Banks that every single Australian can do - and it will probably take you less than an hour.
Every Australian should go out today and get a Credit Union or Building Society account and move all their funds. The only bloody nose the banks will understand is the one that they'll get when 2-3 million high net worth account holders move their money elsewhere.
Credit Unions in Australia have basically the same legal rights as Banks in Australia
Parliament of Australia - Parliamentary Business - Chapter 8 - Credit Unions, Building Societies and Community Banks.
https://goo.gl/VojH2Y
"In withdrawing from some country towns or downgrading their level or quality of service, the major banks have opened up the opportunity for other financial service providers to fill a void. Credit unions, building societies, and community banks are increasingly presented with the chance to provide banking services where banks have departed from a locality or where such services did not previously exist. This chapter looks at the potential for these various institutions to step forward and take the place of the major banks in offering over-the-counter banking services in country Australia."
Credit Unions, Building Societies and Community Banks can issue loans, credit and debit cards, cash etc. You can easily link them to your Bitcoin accounts such as Coinjar.
Credit Unions, unlike Banks, though are not Cartel owned.
Australian Bureau of Statistics - Diversity of Co-Operatives in Australia
https://goo.gl/vH5cvR
A chronology of Credit Unions in Australia (Historical Timeline of Credit Unions being recognised by the Australian Government
https://goo.gl/WBhGtM
Credit Unions, Building Societies and Community Banks are member and community owned, which in effect makes them the already existing decentralised high street banking alternative of choice.
So you don't need to wait until the Banks freeze your Crypto holding or until Verge / TokenPay, or Monaco or TenX cards become available, or wait 55 days for an EFPTOS card from the likes of Coinjar (though I do recommend getting all those cards, especially Verge & TokenPay when it comes), instead today, in less than a couple of days trading cycle you can set up an account at a Credit Union (Building Society) link that into your online account, and then have a perfectly legitimate facility for drawing cash out of Crypto whenever you need, all from legitimate physical High Street outlets in most Towns and Cities in Australia
And Without fear of Bank reprisal.
So What's it Going to Be Australia?
Is 2018 a year where we finally understand that we have the power to reverse the Banking Cartel's crooked influence over every aspect of our Economies, our Communities and our Lives.
If every Australian just simply walked over to a Credit Union next time they go shopping and spent ten minutes opening an account across the counter, then Banking in Australia would change overnight from being Centrally controlled and manipulated by the Cartel to being decentralised and fairly distributed and owned by our own Communities.
We don't even need Bitcoin or Crypto to make that change. Just a simple decision to put as many of your day to day Banking needs through the Credit Union system instead of the Banking System would make that change.
And there's no downside. You will still have secure Government backed accounts to save and hold cash, you will still have EFTPOS, Credit Cards and Other Debit Cards, you will still be able to get a loan for a house or a car or to build a swimming pool.
The only difference will be that you will be working for Team Us instead. Or are we going to wait until the Banks take all our assets and have us collecting bottles and jars to survive.
Further History and Official References on Credit Unions
Here are some links relating to to CU's and their equivalent rights to Banks in Australia. And also which show how they benefit and help develop communities.
Australian Bureau of Statistics - Diversity of Co-Operatives in Australia
https://goo.gl/vH5cvR
A chronology of Credit Unions in Australia (Historical Timeline of Credit Unions being recognised by the Australian Government
https://goo.gl/WBhGtM
What is a Credit Union?
https://www.wcu.com.au/about-us-what-is-a-credit-union.html
Can Credit Unions Survive in Australia?
Kevin Davis
http://press-files.anu.edu.au/downloads/press/p106111/pdf/article05.pdf
Credit Unions Christmas Pageant, South Australia.
http://www.cupageant.com.au/news/credit-unions-continue-pageant-sponsorship
Community First Credit Union listing Australian Prudential Regulation Authority (APRA) and Customer Owned Banking Code of Practice (COBOP)
https://www.communityfirst.com.au/support/important-information
Police Credit Union - Aus
https://www.policecu.com.au/
Credit Union Australia
"We’re Credit Union Australia, a member-owned provider of financial, health and insurance solutions. With over 440,000 members in communities across Australia, we’re the country’s largest credit union, and we’re proud to be an award winning one too.
https://www.cua.com.au/"
People's Choice Credit Union Australia
https://www.peopleschoicecu.com.au/about-us/regulatory-disclosures/
I set up an account with Summerland Credit Union in my area and they are awesome. https://summerland.com.au/
My Mother (in her eighties) had an account with Rockhampton Building Society for years and they were awesome too.
https://therock.com.au/
Credit Unions and Building Societies are all over Australia there are many great ones in every community.
If you have a recommendation for a good CU or Building Society that you've had a good experience with please leave a recommendation in the comments.
Thanks and wishing everyone a Happy and Prosperous 2018. And hopefully one with less Bankers in your life.