This proposed law is NOT about the black economy. It is about control and surveillance. It is about abolishing privacy and choice. It is about the IMF.

This evil Bill is a trap and about forcing unsuspecting Australians to conduct EVERY financial transaction electronically with PRIVATE sector banks.

Have private sector banks ever laundered money? Commonwealth Bank of Australia has been caught out accepting numerous cash deposits over $10,00Aud into ATM's (clear money laundering) and plea bargained modified penalty... note no jail for them!

The fiat currency system is on the verge of collapse and the Reserve Bank of Australia may soon countenance negative interest rates ultimately in the order of 4 or 5 percent. See IMF working Paper – “Monetary Policy with Negative Interest Rates: Decoupling Cash From Electric Money” August 2018.

This proposed law will allow the Government of the day to confiscate citizens money (electronically) to prop up failing banks.

This Bill seeks to (ultimately) use the Australian Federal Police to stop citizens using cash and must never become law.

Penalty: imprisonment for 2 years or 120 penalty units ($25,200) or both!

Of great concern is that if (and when) this Bill becomes law regulations will be used to modify exemptions, thus allowing any government to further restrict the use of cash or crypto currencies by citizens without any scrutiny by the Parliament.

The two party tyranny in Australia - Liberal and Labor intend to quash financial freedom and stomp on privacy of individual citizens!

The Australian Constitution does not recognise political parties..... time for citizens to demand a citizen referendum on this aka the Swiss model.