Bob Katter (Kennedy, Katter's Australian Party) Share this | Hansard source

This issue was touched off by an altercation I had with the cafeteria in Parliament House: I produced cash, and the lady said, 'We don't take cash; I'm sorry.' I said, 'You have to take cash, because it's legal tender.' When the original legislation was introduced providing for legal tender and for the Australian printery to be able to print money, the legislation was really very clear-cut that it was to be legal tender. That meant that you had a debt because you ordered an ice cream and they gave you the ice cream, and they had to take the money that the government produced for that purpose. For the banks to arrogate that power to themselves and take it off the Australian people is absolutely outrageous. I was reading the Qantas lounge, and I recommend that every person in this parliament read it and see how much powerful people can manipulate and misuse power for their benefit and the detriment of the public. It most certainly has occurred in the case of the banks.

Australia had the worst depression of any country on earth; I'm not going to go into all the figures. Germany went to 32 per cent unemployment. We went to 32 per cent unemployment and stayed there because some imbecile decided the government shouldn't produce money. You'd have a depression, but there was already a depression, and it was made infinitely worse by the government not producing money. I don't want to get too complicated with economics here, but it is very simple. The honourable members on my right and on my left have given myriad cases where it's required you take cash, but let me give you two small cases.

The Quamby races attract a couple thousand people. Some glitch in the system meant they had no internet service. How can you have a rodeo with 2,000 people to feed and not have made a provision for taking cash? A wonderful day was completely wrecked. Infinitely more importantly, if the bank is giving you great trouble, you are able to withdraw the cash and get away before they come after you with an axe. But infinitely more important than that: don't you realise that, if you don't have cash, you'll have to get permission off the bank to buy a loaf of bread?

All the speakers emphasise elderly people wanting to use cash. It's funny, but you get a lot of young people on the internet and coming up—they thump me on the arm—saying 'Cash, brother, cash!' Young people understand the necessity to have cash. The hide of powerful people in society saying: 'No! I will have control of what you spend your money on! I am the banks!' Well, look at your record in Australia, banks! It's been absolutely appalling: the GFC, the Great Depression, a hundred examples I could give you. But it is very simple: if there's no cash then you have to get permission off the banks to buy a loaf of bread. Think about that.

So we applaud the government for moving on this. Very seldom do I see a government do this after we pull a little stunt—well, we didn't pull a little stunt; I just wanted to pay by cash—and I pay great tribute to Milton Dick, who found out about the altercation and confrontation, came racing down and put his foot down very unequivocally: 'You will take cash!' (Time expired)

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