Banks taking another big hit this morning.
I would not be shocked if the government came up with a fine for holding too much of the banks money in Cash.
Possibly some type of tax on cash holdings that are not in the bank.
I would be very concerned but not shocked at this. The treasurer is chucking his usual tizzy still about the banks not passing on the full rate cut, echoing Trump imo. Since the BIS and IMF issued orders to take more aggressive action on the economy such as cutting rates etc governments like ours are following orders.
At least I get a laugh when I see the treasurer complaining about the banks, who the hell was involved in creating all of these events if not the treasurer, RBA, Appra and our government.
