The government has always monitored cash transfers greater than $10K.

What it tells me is that it knows that a lot of these transfers are a bit fishy and that it now needs to stop them. There are probably a lot of $10K plus transfers being remitted to China which are draining Australia of cash.

It's like the coronavirus telling us: It's a bit late to be worry about China now suckers!

I've just read the bits about drug smuggling.

Can I be cynical on this subject!

With every wave of new immigrants into this country, comes a new drug problem. Us old folk are only too aware of it, and usually can't shut up about. I'm one.

Let's start with our old mate Graham Ritchardson. Renowned among a few at the time, for his drug smuggling efforts through the Sydney container wharves in the early seventies. Never caught of course, but if you grease the correct palms, all is usually well: Richardson had his wings badly singed with his involvement in th off set printing Jewish stocktake fire and Rene Rivkin, in '93, or there about.

Now to the point. If we could trust honesty was at the forefront of our politicians, then we could believe their efforts at restricting cash transactions were genuine. But there not course.

This cash limit innovation is possibly driven by the more timid politician, not quite game to have a backhander windfall from an ambitious Chinese connection, and envious of those that will.

Little do we the sucker public know, just what the illegal import of amphetamines through containers carrying all Australian manufactured goods, processed through our shipping and airport terminals from China.

Vastly too much in volume to keep accurate tabs on, by our overworked border security services.

As the population of Chinese multicultural converted Australians increases, exponentially, the rise of the drug plague of ice increases.

I'm sure some smart little cookie could achieve a Phd in researching this phenomenon.
Just to prove the point we, all of us with eyes wide open, are sure is true, using past observations as a guide.

Dan

diver dan,

What have you got against people doing degrees?

MO

Quote me where I said that.

ttbn, AC, glad to see you both on board and front and centre in this, yet another scam from our oh so trusting pollies.
I wrote about these topics and more some time ago, and just to stick it up SR's best asset, he just finished bagging my source, who have been advising Aussies about this and many other things which are detrimental to our living and well-being.
I strongly recommend the CEC, it is well worth following.
They are the ones trying to keep the bastards honest, I said TRYING!
As for this disgusting cash grab, it is a direct order/instruction/push from the banks.
And if anyone doesn't believe that "BAIL-IN" is a thing, just look it up.
Those who have no large amounts of cash in the bank, need not worry.
As someone said to me ages ago, the left will be pushing hard because they don't believe in saving or accumulating wealth, and are incensed, jealous even, hearing of anyone better off than them and relishing in the thought of seeing them crushed to a level lower than themselves.
The problem is there is NO level lower than a lefty.

It will still need to get through the Senate, and the maddies on the cross bench might be useful in this regard. There are also differences of opinion in both Labor and the Coalition.