Former Liberal Party advisor: Morrison’s ‘Soviet Liberal government unleashes communism for the banks’!

- CEC Media Release

The Morrison government’s totalitarian ban on cash transactions over $10,000 is the final straw that has prompted a former Liberal Party advisor to attack Scott Morrison’s policies as a form of communism—for the banks!

Independent economist John Adams, a former member of the Liberal Party, commissioned a cartoon, “The Soviet Liberal Government Unleashes Communism for the Banks”, to illustrate the Morrison government’s policies to prop up a sick banking system at the expense of the people and civil liberties.

Click here for a high-resolution image of the cartoon: The Soviet Liberal Government Unleashes Communism for the Banks.

In an interview with Martin North on the Interests Of The People YouTube channel, “Be Aware of Australia’s Soviet Liberal Government”, Adams accused the Liberal Party of abandoning what it claims are its core principles—small government, championing freedom (including economic freedom) and civil liberties, defending the interests of the middle class, property rights, and free market capitalism.

“This is the essence of what the Liberal Party says they’re about, but obviously we are seeing a whole host of policies coming out of the government which in my view are the complete antithesis of these core principles”, Adams said.

The former advisor to Senator Arthur Sinodinos singled out the Morrison government’s extreme economic policies to prop up Australia’s debt bubble, which he notes is the biggest in Australian history, at the same time as the entire globe is straining under the biggest debt bubble in the history of the world. The economic policies, being planned in collusion with the Reserve Bank of Australia, include quantitative easing, zero or negative interest rates, so-called helicopter money, and bans on cash transactions.

“The Liberal Party is supposed to be a defender of Australian middle-class economic interests and civil rights, a champion of small government and free market capitalism”, he said. “Unfortunately, the Morrison Government has now abandoned these principles and is now engaged in extreme economic policies typical of socialist or communist regimes.”

According to Adams, Morrison’s extreme policies will:

  • expand the role, size and power of the federal government and the Reserve Bank of Australia;
  • expand Australia’s largest ever domestic private-sector debt bubble;
  • devalue the Australian dollar;
  • distort markets through manipulating prices outside of their natural equilibrium;
  • reduce economic freedom, privacy and civil liberties in Australia;
  • undermine private property rights;
  • reduce market competition by trapping Australians into the commercial banking sector;
  • confiscate the wealth of Australian households; and
  • increase cost-of-living pressures and economic inequality in Australia.

Poster campaign

John Adams’ criticism of the Morrison government as communistic is explosive, and gets to the core corruption in the financial system in Australia and globally since the 2008 global financial crisis, whereby banks are now able to privatise their profits and socialise their losses. Neoliberal governments deregulated the banks and allowed them to go on debt-fuelled speculation binges, and when confronted by their countless victims they shrugged their shoulders and called the carnage the “free market”. Or as Scott Morrison callously preached to bank victims in Australia, “caveat emptor”, meaning “let the buyer beware”—your losses are your own fault. But when the banks collapsed under their own gambling losses, the same neoliberal governments rushed to use taxpayer funds and printed money to bail them out and prop them up, protect them from scrutiny and shield them from criminal charges—as Scott Morrison has done for the banks in Australia.

Adams said he has tried to expose this in the cartoon: “My intention behind this poster is to draw attention to the real economic program of the Morrison Government which is an anti-civil rights, anti-free market, anti-capitalist, debt-fuelled, inflationist agenda that provides preferential treatment to Australia’s commercial banking industry.

“It is no hyperbole that the Morrison Government is more reflective of a Soviet-style socialist government than a centre-right freedom-loving, pro-markets government. The Government’s ‘free money’ policies for the banking system (i.e. quantitative easing and zero or negative nominal interest rates) is in effect communism for Australia’s big four banking oligopolistic cartel.

“This Morrison economic program is an absolute betrayal of the core principles of the Liberal Party and the Australian people, especially in the wake of the royal commission into the banking sector”, Mr Adams said.

“The commissioned poster goes to significant effort to highlight the various constituencies of Australians who are suffering under the Morrison Government’s policies including:

  • indebted farmers who were unfairly treated by Australia’s banking industry;
  • Australians forced into homelessness;
  • immigrants who have purchased over-inflated Australian property;
  • ordinary middle-class Australian families suffering from mortgage stress;
  • fly-in, fly-out workers who suffer from excessive debts and financial pressures;
  • single mothers facing significant cost-of-living pressures;
  • Australian marriages that result in divorce given financial problems;
  • retirees who struggle to pay for adequate heating given record high electricity prices;
  • Australian women who suffer domestic violence resulting from mortgage stress; and
  • Australians who engage in illicit drug activities given financial and social pressures.”

The Citizens Electoral Council is leading the campaign in Australia to reform the banks so they once again serve the people and the real economy, starting with a Glass-Steagall separation of real banking from speculation. This is the policy the government should be implementing, instead of banning cash, bailing in deposits, and cutting interest rates to negative. For this reason, the CEC is supporting John Adams’ campaign to use the cartoon as a poster and distribute it widely around Australia to shame the Liberal Party into reconsidering their policies, starting with the cash ban.

Join the campaign! Click here for a high-resolution image of the cartoon that you can print out as a poster. Put the cartoon poster out everywhere you can in public places.

If it’s too difficult to print it out yourself, call the CEC to order colour posters on 1800 636 432.

Click here to sign the Change.org petition: Stop Scott Morrison from banning cash to trap Australians in banks!

Click here for a free copy of the latest issue of the Australian Alert Service.

Cash Ban