Posts

In Australia the Bank Robs You!

If you rob a bank, you go to jail. If the bank robs you, no banker will go to jail and they won’t even pay a fine. Maybe it has something to do with the Big 4’s top shareholders – Vanguard, Blackrock, State Street, JP Morgan, Charles Schwab, HSBC and others.

After 6 years of inquiries and a Royal Commission, the final Financial Accountability Regime Bill contains no accountability for bad bankers. We supported Senator McKim in trying to make sure bankers could be liable for personal fines if they misbehaved but the Greens caved, joining Labor to pass through the bill without the penalties.

One Nation won’t stop our fight to make bank executives accountable and find justice for their victims.

Transcripts | Speech and Questions

Yesterday, as a servant to the people of Queensland and Australia, I spoke on Senator McKenzie’s matter of public importance regarding the decision by Minister Catherine King to give Qantas a substantial commercial advantage in the Qatar Airlines application for more flights to Australia. I pointed out that the Qatari government owns Qatar Airlines, while Qantas’s most influential shareholders are the merchant banks that invest money on behalf of the world’s richest predatory billionaires. I raise the question: who does this government represent? Is it everyday Australians or foreign wealth?

Here we are again, the very next day, debating the Financial Accountability Regime Bill 2023—a bill devoid of financial accountability. A financial accountability regime bill with no accountability is a bill that could more rightly be called the ‘Letting bank executives do whatever they want bill 2023’. Banking executives in Australia are a protected species for the same reason Alan Joyce and Qantas are protected: crony capitalism.

The big four banks have almost identical major shareholders. They have the same owners as Qantas, including Vanguard with $15 billion in shares in the big four banks, BlackRock with $5 billion, and then the usual suspects with smaller holdings, such as State Street, JP Morgan, Charles Schwab, HSBC and others. With these common owners making up a controlling share, it means we do not have four big banks. We have one monstrous bank with four divisions working under four logos. Why would the banks compete with each other when that competition will lessen their profits and, in turn, reduce the flow of dividends to these investment funds?

Our banking legislation, our checks and balances, were not written for an eventuality where investment funds with A$40 trillion in funds available bought controlling shareholdings in all the big four banks and used those shareholdings for their own financial benefit in a way that reduces competition and has reduced competition. Investment funds get assistance from complicit executives. Those complicit executives know the deal when those same investment funds elect directors who then employ the executives. The same executives know that they have to follow orders to keep their jobs and their fat pay cheques. The same executives then pursue the now infamous ESG measures to ensure that a bank lends only for projects that meet so-called environmental, social and governance standards. ESG is shorthand for using banks to enforce political objectives, like enforcing net zero by defunding coal, gas and most mining while lending for speculative investments in hydrogen and similar unproven fantasy technology.

Why would banks take a course of action that puts shareholders’ funds at risk? It’s because these big investment funds own the companies that profit from those investments. ESG is nothing more than the billionaires who run the world using their ownership of our banks to lend to themselves for risky investments that, if they fail, will reduce their equity. It will reduce the equity of mum and dad investors more. They carry the risk. Everyday Australians are shouldering the risk of these misinvestments that benefit only the world’s most wealthy individuals. As George Carlin famously said, ‘It’s a club, and you’—everyday Australians—’ain’t in it.’

I wonder if whoever made the decision to take personal financial penalties out of the financial accountability regime is in the club. Are you? Those penalties were in this legislation when the Turnbull government introduced it—although, of course, it is not being used, because nobody in the Liberal Party or the Labor Party has the guts to take on these investment funds—least of all, it would appear, Assistant Treasurer, Stephen Jones, who authored this bill.

Everyday Australians are feeling the pain from the failure of this government to govern without fear or favour. Bank branch closures and de-banking are hitting everyday Australians hard, and the banking cartel just sit back and count the profits—record profits. The most glaring exclusion from this bill is the absence of civil penalty provisions such as fines for bankers. To translate that into plain English, it means that senior bankers who behave badly will not, under this bill, face personal fines—no fines at all.

Making bad bankers pay big fines isn’t an idea One Nation and the Greens pulled out of thin air. The Treasury department was the one that initially proposed it. The proposal paper for the financial accountability regime that Treasury published in 2020 included civil penalties for bad bankers. The big bank lobby circled the wagons, mustering all of their high-powered lobbyists and industry groups to browbeat Treasury into removing the personal civil penalties. When the Morrison coalition government introduced the 2021 version of this bill, civil penalties had disappeared. Labor had a chance to fix that when they introduced their versions of the bill, first in 2022 and now with this one in 2023. Instead, the Assistant Treasurer and Minister for Financial Services, Stephen ‘I love the bankers’ Jones, has joined Labor at the hip with their crony-capitalist banking suck-up mates in the coalition.

This bill’s time line is a glaring example of what’s wrong with our country’s governance. In 2017 I chaired the inquiry of the Senate Select Committee on Lending to Primary Production Customers, while at the same time we called for a royal commission into the banks. The horror stories we uncovered in that Senate inquiry were enough to make my skin crawl and my stomach churn: banks stealing land and even livestock straight out from under farmers’ feet, cattle rustling, foreclosing on properties where there hadn’t been breaches of loan repayments, preying on vulnerable people, stealing whole farms, and rewarding mates amongst insolvency practitioners and other farmers. Rabobank, after being fined hundreds of millions of dollars for serious breaches in America, was destroying families in our country. All under your watch.

The evidence of banking practices we uncovered during that inquiry forced the government’s hand. With the testimony of those victims, the government had no option but to call the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. This bill now before us supposedly implements recommendations of that royal commission. What a joke! It’s been more than six years since the Senate select committee I chaired was established. At the end of that long road not a single banker has been thrown in jail for their criminal actions—not one. To my knowledge, not a single banker has paid any civil penalty for the outright fraud uncovered in the royal commission—not one. At the end of the long road to this bill we have something that still will not impose personal civil penalties on bankers who breach their accountability regimes. And you guys just let it continue. If you want to know who holds all the power in this country, look no further than the fact that civil penalties have been dropped.

One Nation will be supporting Senator McKim’s amendment to insert civil penalties back into the bill, but, alas, that failed. If that amendment had been successful, we would have supported the bill. Without that amendment this bill does not go far enough to place accountability on misbehaving bankers, and we cannot support its passage. Minister, why does this bill not contain civil penalty provisions for senior bankers who fail their accountability obligations?

Minister Gallagher: Thank you and I acknowledge Senator Roberts’ speech. I don’t agree with large parts of it but in this bill there are penalties within the legislation before us.  They will, individuals can lose deferred remuneration – they can be disqualified from being able to work in the industry and there are individual civil penalties for assisting an entity’s contravention of obligations.

Senator Roberts: Minister, are you aware who owns our big four banks? Let me read the list of shareholders of those banks right now so that you may have some idea of where I’m going. Shareholders of National Australia Bank Limited are the Vanguard Group, with 3.3 per cent; BlackRock Fund Advisors; Vanguard Investments Australia Ltd; Norges Bank Investment Management; State Street Global Advisors; Colonial First State Investments; Goody Capital; BlackRock Advisers; Netwealth Investments; and Caisse de depot et placement du Quebec. Let me read them for the Commonwealth bank: Vanguard Group, BlackRock Fund Advisors, Vanguard Investments Australia, Norges Bank, Goody Capital, Australian Foundation Investment Company Limited, BlackRock Advisors, Netwealth Investments, FIL Investment Management and Vanguard Global Advisors. Westpac: the Vanguard Group, Vanguard Investments Australia, BlackRock Fund Advisors, Norges bank, State Street Global Advisors, Goody Capital, Advance Asset Management, BlackRock Advisors, Australian Foundation Investment Company, Netwealth Investments. ANZ group: the Vanguard Group—is there an echo in this room? BlackRock Fund Advisors—there’s that echo again! Vanguard Investments—it’s still here! State Street—another echo! Goody Capital—another echo! BlackRock Advisors—another echo! This place is an echo chamber, and that’s probably very appropriate. There’s Netwealth Investments—another echo! Dimensional Fund Advisors—they’re only in ANZ. There’s Vanguard—another echo! BlackRock investment—another echo! Minister, are you aware of this?

Minister Gallagher: I’m certainly aware there’s millions of shareholders in Australia’s big banks and across Australia’s financial system, yes.

Senator Roberts: So you allow it to continue with no accountability. It seems we don’t have 4 big banks. We have one monstrous bank working under 4 logos, 4 divisions. There’s no, there’s no difference between their primary products and services and their ways of operating. Their product, services and operations are similar. So similar that I recognised, as Chair of the Senate Select inquiry into lending the primary production customers back in 2017, that they operate as one. They are a cartel. Are you aware of the common ownership and common practice, product and services of these banks?

Minister Gallagher: Well, that information is available, as you know, to all of us.  It’s transparent around shareholding in big companies in Australia.  So I’m aware and you are aware, and you’re aware because that information is available.

Senator Roberts: The difference, Minister, between you and I is that I want to do something to fix it. Minister, what will your government do about protecting Australians from these parasitic predators?

Minister Gallagher: Well, I don’t agree with the language that you’ve used Senator Roberts.

Senator Roberts: The Minister says, in effect, that she agrees they are parasitic predators. So legislation needs to have teeth. Without teeth, massive regulation protects the Big Four from accountability because of the complexities needing deep pockets for deep pockets for lawyers. A farmer, small businessman, even a woman, cannot afford the lawyers that the big banks resort to at the drop of a hat because they’re protected by deep, complicated legislation. These barriers are barriers to accountability. Are you aware of that? And what do you plan to do about it?

Minister Gallagher: Well, no, I don’t agree with that. The bill we are debating or we completed debated of yesterday is the Financial Accountability Regime Bill. So no, I don’t agree with that. And I do believe since the Royal Commission there has been significant increase in and protections for us through legislative reform like this to make sure that we get a properly regulated and accountable financial system. This is one piece of that. So no, I don’t agree with you.

Senator Roberts: Minister, these regulations provide barriers to entry of new competition to the Big Four or the Big One. Are you aware of that and what do you plan to do about it?

Minister Gallagher: Sorry if your questions about do I think this is a barrier to competition? No.

Senator Roberts: That wasn’t my question. The massive amount of complex regulations, they’re protecting the big four banks, they’re a barrier to competition.

Minister Gallagher: I mean in a sense you’re arguing in a circle because we are putting in place legislative protections and regulations to make sure there is a stronger financial system in this country to deal with some of the problems that we saw come through in the lead up to and during the banking Royal Commission to protect consumers and to make sure that we have a strong, profitable, well led banking system financial system in this country. This legislative response is part of that. The regulations are there to offer that protection. They’re not there to limit competition.

Senator Roberts: They’re effectively working as such Minister. The government’s bank deposit guarantee scheme is worthless. Firstly, it’s not automatic, because the Treasurer has to invoke it and if he doesn’t, there’s no guarantee of bank deposits. Secondly, it covers only a maximum of $80 billion out of $1.3 trillion in bank deposits. For example, the Commonwealth Bank, I understand, has 30 million deposit accounts, meaning an average of $670 per deposit. Meanwhile, the previous government passed a bank bail-in provision that your party supported. These are other ways in which banks avoid accountability for their mistakes and greed. They take none of the risk and all of the profit. They have no penalty for excessive greed causing failure, because government bails them in. When will your government start protecting Australian citizens and revoke the bail-in, for example?

Minister Gallagher: Well, the work that has come out of the royal Commission, of which this is a part of, is precisely about that, Senator Roberts.

/2 Comments/by

QANTAS becomes a National Shame

In recent years, QANTAS appears to have lost the skill of delivering passengers and their luggage to the same city.

Some will try to say it’s the fault of capitalism. It’s crony capitalism that is actually to blame. Crony capitalism is the network of cosy relationships between selected corporate mates and the government. Unlike actual capitalism, it’s about using the government to squash competition and secure preferential treatment from the government.

QANTAS has received billions in taxpayer handouts in the last few years alone. The government has blocked competitors like Qatar Airways from entering the market. All of this is a form of corrupt crony capitalism and Australia pays for it.

It’s the government getting involved in the market that has allowed QANTAS and Alan Joyce to pull off their heist on Australians.

Transcript

As a servant to the many different people who make up our one Queensland community, I wonder, as many constituents do, who does Qantas have photographs of? How can Qantas engage in restrictive trade practices, fraud and a scorched earth policy approach to industrial relations and still be called Australia’s national airline? Are these our national values now? 

The decision of the Minister for Infrastructure, Transport, Regional Development and Local Government to stop Qatar Airways from increasing their number of flights to Australia provided a direct financial benefit to Qantas. As a result, everyday Australians are now paying higher airfares on those international routes than if Qatar had been allowed to provide competition to Qantas. I note that, over the last 12 months, Senator Sheldon has been resolute in his attempts to hold Qantas accountable through the Senate committee system. I welcome Senator Sheldon’s comments and appreciate his one-man war on the temple of uncaring corporate greed that Qantas has become. Let me be clear, Qantas is an embarrassment to free enterprise competition. Everyday Australians are now faced with dysfunctional, unaffordable air travel simply because the government keeps sticking its nose in where it does not belong. It shouldn’t be up to the government to decide how many air flights an airline has. The free market should sort that out. Free enterprise competition based on pricing, service, safety and availability would sort that out. 

Passengers make their purchase decisions on aircraft tickets based on the most fundamental duty of an airline, which is delivering a passenger to their destination at the same time as their luggage. It’s a skill Qantas seems to have lost. Free enterprise competition ensures the airline with the lowest fares, best service, safest planes and most reliable luggage will gain market share, and airlines who treat their customers with hubris and arrogance will fare badly. Free enterprise competition makes companies better. We do not have free enterprise competition in many industries in Australia, including with airlines. We have crony capitalism, a club of investment funds and their corporate henchmen who maximise short-term profits and dividends over the best long-term interests of a corporation or there’s personal greed from the corporation CEOs. It is a type of corporate asset stripping that’s behind the fall from grace of our once loved national carrier. 

To dress this decision up as being in the national interest is misdirection and misinformation. Qantas is a private company whose actions are decided by leading shareholders First State, Vanguard and BlackRock. Others pulling the strings at Qantas are JP Morgan, HSBC, State Street, Goldman Sachs, and Citicorp, which explains a lot. The Qatari government fully owns Qatar Airways. There is nothing in this deal for the predatory billionaires that control Qantas. Was this the reason for the decision to block Qatar Airways’ expansion? If so, who is really telling the Albanese government what to do? 

/3 Comments/by

Who will fact-check the fact-checkers?

The government’s response to news of shady foreign money potentially influencing the RMIT-ABC Fact Check partnership is silence.

The credibility of ‘independent fact checkers’ has been destroyed. It’s time for the government to abandon its ACMA Misinformation and Disinformation Bill, which relies on fact checkers being the arbiters of truth.

Update: ABC has ended its partnership with RMIT Exclusive: ABC ends seven-year partnership with RMIT Fact Check (crikey.com.au)

Transcript

I rise to take note of the answers the government gave today in relation to foreign influence of the RMIT-ABC Fact Check partnership. As anybody who has been put in Facebook jail knows, the credibility of fact-checkers is in shambles. The fact-checkers are meant to be independent yet they are not. Who fact-checks the fact checkers? Facebook has recently suspended its partnership with RMIT FactLab after media reports revealed the director, former ABC journalist Russell Skelton, is openly campaigning for a yes vote in the upcoming referendum while his organisation dishes out fact checks on the no campaign—hardly impartial, completely conflicted. Then there is the potential foreign influence on the fact-check partnership.

Here are some facts Minister Watt sought and ought to know. Financial statements from the International Fact-Checking Network, the IFCN, show a foreign organisation gave grants to the RMIT-ABC partnership. The IFCN’s funders are a combination of shady private foundations, foreign-headquartered technology giant Meta and even the United States government via its embassy in Bangkok. Why is the taxpayer funded national broadcaster, the ABC, seemingly receiving funds from potential agents of foreign influence for its fact checks? What sort of influence on fact checks do foreign agents buy with this money? These are all frightening questions about how far the influence of this shady, rapidly growing censorship industry reaches.

Fact-checking is being used in a censorship campaign to shut down dissent. During COVID, fact checkers in the Department of Health and Ageing told social media to take down a meme about masks being useless. That was always true. The gold standard Cochrane review confirmed masks are useless. The fact checkers’ outrageous behaviour demonstrates that the government’s misinformation and disinformation bill should be dead in the water. It’s time for the government to admit defeat and abandon their Orwellian censorship power grab. The key to human progress is freedom. Human progress starts with freedom of thought and freedom of sharing thoughts. Freedom of speech is fundamental to human progress.

Related:

Government Ignores Foreign Influence in RMIT-ABC Fact Checks
/1 Comment/by

Pursuing Accountability Among the Agencies

,

The Australian National Audit Office (ANAO) is thorough and does some fine work. Its audit of the National Emergency Management Agency (NEMA) and the National Recovery and Resilience Agency (NRRA) found performance accountability missing.

At Senate Estimates the ANAO audit of Disaster Recovery Funding uncovered several reporting deficits with NEMA and NRRA that need to be addressed, vindicating my previous call for a Senate Inquiry into the administration of Disaster Relief Funding Arrangements to expose the misuse funds.

I called for an ANAO audit of Coal LSL (Long Service Leave) after Chartered Accountants KPMG’s concerning report of Coal LSL revealed many governance problems and the non-paying of entitlements to Hunter Valley coal miners.

I’ve been raising these issues for the past four years and will keep raising them on behalf of Australians until these identified problems and governance issues are resolved.

ANAO has agreed to examine this so watch this space.

/by

No more indemnity – we will chase you until you are held accountable!

Rapper Zuby, in a very well-delivered address in 2022 at CPAC, observed that most politicians don’t care if people die—and he is correct. Most politicians don’t care if people die.

There’s no royal commission. There’s no Senate inquiry. There’s no access to contracts—they’re commercial-in-confidence we’re told. Years after they were signed, they’re still commercial-in-confidence. Taxpayers paid for the injections, yet we cannot see what we paid for. We can’t even see how much we paid. Censorship. What are they hiding?

Bill Gates paid for censorship in the mouthpiece Big Brother media that is often owned by the same people who own Pfizer. Bill Gates paid for censorship across social media. Gates is an investor in big pharma—a massive investor in big pharma—and a massive contributor to the World Health Organization, the UN’s World Health Organization.

I hold the whole Senate accountable, apart from six senators withstanding the catcalls.

At last Thursday’s Senate inquiry into anti-discrimination bills—one of which was moved by Senator Hanson and another one by Senator Canavan, Senator Antic and Senator Rennick—four of the five senators grilling Pfizer, Moderna and the TGA were from Queensland. Four, plus Senator Antic. Pfizer did not know where to go.

Clearly Pfizer, Moderna and the TGA all disgraced themselves and showed themselves to be inhuman. Clearly none feel accountable for the deaths, the chronic and crippling injuries, the severe injuries—not federal government or its health departments, not the state premiers or their health departments, not employers mandating injections. No-one takes accountability.

We will chase you until you are held accountable.

Transcript

As a servant to the many different people who make up our one Queensland community, I speak in support of the Public Governance, Performance and Accountability Amendment (Vaccine Indemnity) Bill 2023, because with indemnity comes impunity, and this parliament needs huge doses of accountability to change it from exploiting the people and return it to serving the people.

The main process for distributing vaccines in Australia is through the National Immunisation Program. Section 9B of the National Health Act 1953 allows the minister for health to provide, or arrange for the provision of, injections for distribution through the National Immunisation Program. Injections distributed via the National Immunisation Program must be listed on the Pharmaceutical Benefits Scheme. The purchase of injections occurs through the Commonwealth entering into supply contracts with the relevant pharmaceutical companies. These arrangements would include the amount of compensation the Commonwealth is liable to pay in exchange for the injections and are generally subject to the Commonwealth Procurement Rules.

During COVID, the Liberal government, with the full support of the Labor opposition and the Greens, simply tore up the rule book. Pfizer were given a blanket immunity. Pfizer knew, when the injection was being developed and tested, that they had a blanket immunity. What could go wrong? Firstly, accountability is shredded. The outcome of this ill-considered decision was an excess mortality rate in Australia of 27 per cent above normal since the ‘fakecines’ were rolled out. Most likely 30,000 Australians will die this year from side effects of our COVID response, including the injectables. Did they really think Pfizer, a multinational pharmaceutical company with an appalling track record, would suddenly turn into a model corporate citizen when asked to produce the COVID injections? Did you?

Prior to COVID, Pfizer had been fined US$3 billion for criminal acts. They are a habitual offender, persistently engaging in illegal and corrupt marketing practices, bribing physicians and suppressing adverse trial results. We know Pfizer suppressed bad trial data in the COVID trials, fabricated results, excluded test subjects that became sick and failed to test for a full range of adverse effects. They did this knowingly. The ‘fakecines’ were then manufactured in a shoddy fashion and did not use good manufacturing process as they were supposed to and as every other product approved in Australia must.

Live DNA derived from E. coli used in production has been found in large quantities in the Pfizer product—up to a billion strands or parts of strands in every dose. Huge variations between batches suggest huge variations in manufacturing quality. I say ‘suggest’ because we have no idea what is actually in these products, because the TGA accepts batch testing from the manufacturer and has not conducted the testing on each batch as it arrives. It has not conducted the testing. The TGA took the US FDA’s word for the results of the stage 2/3 clinical trials, and the FDA took Pfizer’s word for it. We’re relying on Pfizer’s word for these.

To give a product immunity, the TGA should have thoroughly tested these injections, not looked the other way. We have no idea what harm these products will eventually cause, because there was no long-term safety testing conducted—none. Why would they spend that money when they already had the immunity? That’s what immunity has done to them—more profit for Pfizer, more money in the pocket for CEO Albert Bourla, who banked US$30 million in salary and bonuses last financial year. Overall, Pfizer sold $36 billion in COVID products in 2022, pushing Pfizer to a record $100 billion in sales. I am slightly encouraged to see their share price is down 40 per cent from the peak of 2021, and projected revenue in 2023 is down 80 per cent.

While Pfizer made out like the fraudulent bandits they are, the Australian taxpayers are on the hook for who knows how much. The budget papers are required to show every potential liability the government has. There is an entry for our liability under the COVID products, yet they have not quantified it. You have not quantified it; there’s no figure there. That can’t continue. This liability will run into the billions. Australia needs this bill from Senator Babet to make sure no greedy, dishonest, opportunistic pharmaceutical company is allowed to get away with financial murder again. Australia needs this bill to make sure that no inhuman monster like the former health minister Greg Hunt, like the former prime minister Scott Morrison, like premiers Palaszczuk, McGowan and Andrews, is allowed to get away with malfeasance forcing experimental gene therapy based injections leading to tens of thousands of deaths, tens of thousands of people permanently crippled for life and hundreds of thousands of people injured, and uncounted people in mourning. Those are the nuts and bolts.

Now we go to the morality because governments cannot be trusted. With immunity, comes impunity. The simple reason for lack of accountability is the hiding of government actions through indemnities. Firstly, my position on medications including injections: we all want safe treatment. We are all pro-medicine. We all want that each of us decides what is put into our body—my body, my choice. We all want freedom to make our choice and for our choice to be accepted and respected. We all wholeheartedly support medicines that are fully tested and proven safe, effective, affordable and accessible. I am opposed to untested drugs, forcing untested experimental injections on to people, forcing untested experimental injections on to people with the only alternative being to lose one’s livelihood or let your children starve. How could any human allow this to happen?

How could any human allow this to happen, yet you did. Then in your shame, your cowardice, your guilt, the best you could do to those of us who stood up to this inhuman, monstrous and at times murderous madness was to call us ‘anti-vaxxers’. Pathetic—labels are the refuge of the ignorant, the incompetent, the dishonest, the guilty and the fearful, name-calling as you sling words at us for protecting innocent good people. But your vilification means nothing to us because we go for the truth. I oppose coercion, I oppose mandates, I oppose confidentiality hiding details from taxpayers. These untested injections from Pfizer, Moderna and AstraZeneca were forced on people using lies. Daily for two weeks former prime minister Morrison said, ‘There are no vaccine mandates in Australia.’ That was a lie, a murderous lie killing 30,000 Australians annually in excess deaths above normal. Worse, the Morrison-Hunt duo enabled and drove the injection mandate. Here is how: the Morrison-Hunt duo bought the injections. The Morrison-Hunt duo gave them to the states. The Morrison-Hunt duo indemnified the states. The Morrison-Hunt duo made federal health department data available to the states.

That was the only way the states could enforce their mandates, which really were driven by the Morrison-Hunt duo. State premiers admitted their vaccine mandates were in line with the bogus so-called ‘National Cabinet’, which was headed by Scott Morrison. The Morrison federal government mandated injections in Defence, the Australian Electoral Commission, aged care, the Australian Federal Police and others, but there are no vaccine mandates in Australia, he said. Then on Tuesday, I spoke about the Medical Countermeasures Consortium, which drove the whole lot, the four nations’ defence departments, from Canada, America, Britain and Australia. This was planned and delivered, and Pfizer did the work on behalf of the American Department of Defense. That’s why it bypassed the testing. Now we have 30,000 excess deaths That’s the equivalent to two Boeing 787 Dreamliner crashes every week for a year—every week for a year! Yet we have Queensland nurses still suspended. Foreign nurses are being recruited by Premier Palaszczuk to take their jobs. Then she’s told us repeatedly for the last three years, ‘The health system is crashing.’ Disgraceful, inhuman. The police are mandated, and they’ve lost many. The teachers have been mandated, and, when they finally lifted the mandate, many of them didn’t come back. We found children were crippled, affected. The teachers were fined. Doctors were mandated and many have left the profession. How can Australia put up with that? That’s going to hurt the patients. The pilots were mandated and the Civil Aviation Safety Authority, CASA, cares not a bit. It’s wilfully blind, it’s misfeasance and it’s betraying passenger air safety.

In a shining light, the Australian Firefighters Alliance was formed because their union would not stand up for them. Many unions went rogue and did not stand up for their members. The Australian Firefighters Alliance resisted. They developed, from the very start, a defensive strategy and an offensive strategy and that’s the only one that Premier Palaszczuk did not mandate. It’s based on a false premise. Livelihoods and lives have been destroyed.

We had the absurdity of the drugs failure, the vaccine failure, the injections failure being falsely blamed on the people who didn’t take it. Indemnities encourage impunity and rogue behaviour, irresponsible behaviour, destructive behaviour, cruel, monstrous, inhuman behaviour. Indemnities destroy accountability because everything is hidden, and indemnities are given. There’s no problem disclosed and so there’s no compensation. Millions of people suffer in silence and this Labor government perpetuates the misery, the deceit.

Rapper Zuby, in a very well-delivered address in 2022 at CPAC observed that most politicians don’t care if people die—and he is correct. Most politicians don’t care if people die. There’s no royal commission. There’s no Senate inquiry. There’s no access to contracts—they’re commercial-in-confidence we’re told. Years after they were signed, they’re still commercial-in-confidence. Taxpayers paid for injections, yet we cannot see what we paid for. We can’t even see how much we paid. Censorship. What are they hiding? Bill Gates paid for censorship in the mouthpiece Big Brother media that is often owned by the same people who own Pfizer. Bill Gates paid for censorship across social media. Gates is an investor in big pharma—a massive investor in big pharma—and a massive contributor to the World Health Organization, the UN’s World Health Organization.

I hold the whole Senate accountable, the whole Senate, apart from six senators withstanding the catcalls. At last Thursday’s Senate inquiry into antidiscrimination bills—one of which was moved by Senator Hanson and another one by Senator Canavan, Senator Antic and Senator Rennick—four of the five senators grilling Pfizer, Moderna and the TGA were from Queensland. Four, plus Senator Antic. Pfizer did not know where to go. Clearly Pfizer, Moderna and the TGA all disgraced themselves and showed themselves to be inhuman. Clearly none feel accountable for the deaths, the chronic and crippling injuries, the severe injuries—not federal government or its health departments, not the state premiers or their health departments, not employers mandating injections. No-one takes accountability. We will chase you until you are held accountable.

We’ve had airline employees taken to hospital and then returned and Qantas insisted they be injected. There are too many other stories there; I won’t go into them. But we see people awakening. We see the situation has created heroes: Hoody, Maria Zeee, Chris Spicer and many, many more from the independent people’s media; doctors who formed the Australian Medical Professionals Society; Dr William Bay, and he is a doctor; nurses like Dee; firies like Dan; police like Krystal; paramedics like Peter; doctors like Camillo; pilots like Alan; and thousands of construction workers and other workers. You’ve woken the people up. Thank you so much for being our heroes. Here and globally, you’re wakening people up.

When indemnities are granted, especially in secret, accountability is removed, and you in this Senate, in this parliament, have demonstrated that repeatedly. You’ve confirmed it. All who oppose this bill will be voting to continue the needless deaths and lies. This bill will prevent recurrence. Ending indemnity will end impunity. It will contribute to restoring accountability. Transparency restores trust. I wholeheartedly support this bill and urge all senators to vote in support.

/40 Comments/by

ASIC and Senate Lock Horns Over Accountability

Earlier this year the Senate failed to pass my proposal for confidential document discovery. The stoush currently underway between Senator Braggs’ Committee of Inquiry into ASIC and ASIC themselves confirms the need for confidential document discovery. Had this been available, the Committee would have the information they are after already.

Public officials have an obligation to allow scrutiny of their performance and the Senate must allow agencies due process. I am not convinced either is happening the right way in this stoush between ASIC and Senator Bragg.

Having said that, Senator Bragg’s diligence in trying to introduce accountability to Australia’s corporate watchdog, the Australian Securities and Investment Commission (ASIC), is much appreciated. The Senate serves the people and this Inquiry which began last October came about as a result of complaints about ASIC from everyday Australians, and is on behalf of the people of Australia, including investors and small business.

As I outline in this video, there are broad community concerns and systemic issues with ASIC’s investigations and enforcement capabilities.

Unfortunately, not only has ASIC has refused to cooperate with the Senate, displaying contempt for the process of review, Freedom of Information documents reveal ASIC was in contact with unknown people within parliament in an attempt to secure a watering down of terms of reference and to try to block disclosure.

In seeking to squash this inquiry into itself ASIC has this government using public interest immunity. This government is also showing contempt for the people of Australia.

The Albanese government is setting a world record for how fast they broke their promise of accountability and transparency.

Transcript

As a servant to the many different people who make up our one Queensland community, I thank Senator Bragg very much for his hard work trying to introduce accountability to Australia’s corporate watchdog, the Australian Securities and Investments Commission. I’ve watched his diligence, his patience, his commitment and his determination, and I admire and acknowledge all of that.

Last October the Senate referred an inquiry to the Economics References Committee into the capacity and capability of the Australian Securities and Investments Commission, ASIC, in particular to answer the question: did ASIC meet the expectations of government, business and the community with respect to regulatory action and enforcement? A simple question.

This inquiry was prompted by complaints from everyday Australians and small business that ASIC was not doing its job. ASIC’s job is to ensure a level playing field and, where a company has engaged in corrupt conduct, ensure prosecutions occur. The evidence received has indicated that there are broad community concerns and systemic issues with ASIC’s investigation and enforcement capabilities. That mirrors what I have perceived. The committee has sought information surrounding a small number of closed investigations in order to understand how ASIC conducts investigations and understand its prosecution approach. The closed cases concern Nuix, ALS, super insider trading and Magnus, where there were serious allegations of commercial misconduct. Unfortunately, ASIC have shown contempt for the committee process, making public interest immunity claims to get out of handing over this information. ASIC were given one last chance to comply with this order, and here we are now. ASIC have again refused to cooperate with the Senate.

This should not be the end of the matter. The Constitution gives the Senate extreme powers of investigation and penalty on individuals for refusing to follow the instructions of the Senate. I’ll say it again: the Constitution gives the Senate extreme powers of investigation and penalty on individuals for refusing to follow the instruction of the Senate. That reflects the Constitution’s intent in making sure that the Senate serves the people, and I remind everyone that is the case. These powers should be considered in this case.

To say that ASIC have been dragged kicking and screaming into this inquiry is an understatement. Freedom-of-information documents obtained by Adams Economics reveal ASIC were in contact with unknown persons within the parliament to secure a watering down of the terms of reference or to deny the numbers entirely, to squash the inquiry. This is why we are here. How dare ASIC interfere to avoid review by the house of review on behalf of the people of Australia! One Nation rejected ASIC’s public interest immunity claims over materials concerning closed investigations into misconduct. ASIC’s reliance on public interest immunity claims to block disclosure has been an ongoing issue obstructing the committee’s ability to conduct a proper investigation on behalf of the people of Australia—this is not the Senate; this is on behalf of the people of Australia—the people who pay ASIC’s salaries, the people whom ASIC is supposed to serve. Public interest immunity is being used by a government that has nothing but contempt for openness and transparency.

Only today I discovered, by chance, that the industry groups the government are showing their new IR bill to are being required to sign a confidentiality agreement so that they can’t say what is in the bill. That shows contempt from this government for the people of this country. What sorts of nefarious provisions are in that bill that they require a cloak of secrecy? Every government is elected with a promise of transparency, and every government then breaks that promise. The Albanese government is, however, setting a world record for how fast they broke their promise and setting a world record for arrogance towards the people of Australia. This request from the Senate goes to a small number of closed cases. They cannot possibly effect an ongoing investigation. There’s no down side to revealing this information other than embarrassment, or worse, for ASIC management and the responsible minister.

I have received a report from a third party regarding ASIC senior executives using private phones for official business, and I look forward to further information around that issue. If a Commonwealth government agency spends $200,000 of taxpayers’ money on a secret investigation into allegations against ASIC’s deputy chair, the Senate has a right and a duty to ask what that was about. It’s our role as a Senate to do that, and we would be deficient in our duties to the people of Australia if we did not do so. This matter places the career interests of bureaucrats against the sworn duties of a senator and of the whole Senate. One Nation is betting on the Senate ultimately discharging its duties without fear or favour. ASIC has refused to disclose its correspondence in relation to public interest immunity claims with the minister. The committee has formed a view that ASIC’s refusal to provide the information sought is obstructing the committee’s ability to conduct this inquiry. That, by the way, is an offence. ASIC appear to be all lawyers. Let me say: you should know better, ASIC.

I’ve got some notes in front of me that I’ll divert to briefly. We are inquiring through the committee into the ability and, indirectly, the intent behind ASIC’s behaviours—the intent. The government is digging a deeper hole when it comes to the intent, because as Senator Brockman and Senator Bragg have pointed out in detail, the government is covering up, and that makes it even worse. If it was innocent, the government should welcome the disclosure. If it had something to hide or something to protect in ASIC, then it would shut down, and that’s what we see. I’ll go to the terms of reference:

… whether ASIC is meeting the expectations of government, business and the community with respect to regulatory action and enforcement …

It’s also not meeting the expectations of parliament. ASIC has failed persistently to enforce the law and investigate complaints of misconduct. Small business and consumers across Australia, who are tired of ASIC’s persistent failure to enforce the law and investigate complaints of misconduct, are the customers we serve. They’re the customers ASIC serves. The evidence received so far has indicated that there are broad community concerns and systemic issues with ASIC’s investigation and enforcement capabilities, and my personal concerns are similar.

The committee has sought information surrounding a small number of closed investigations. I’ve listed them, as have Senator Bragg and Senator Brockman. The government has a choice: release the documents and remove suspicions if you have nothing to hide, or, if you have something to hide, hide and stoke the suspicions. A private briefing is not adequate because that would be just ASIC giving selective disclosure. The executive government should support an inquiry to end white-collar crime in Australia and strengthen inquiry in our financial sector. Instead, the Labor government has defended ASIC at the expense of the work of the Senate, arrogantly keeping people in the dark. I ask the question: is ASIC protecting criminals or is it protecting its own incompetence or its own lack of intent to hold criminals accountable? Who watches over the regulator? We, the Senate, do, and the people watch over us. I call on the minister to stop obstructing the Senate, and I call on ASIC to rethink their obstruction to this inquiry.

/by

Labor Government copies Morrison Government’s Secrecy Tactics

The transparency and accountability systems that are meant to apply to government are broken.

Despite campaigning on honesty and transparency, this Labor Government is pulling out every trick in the book to keep Australians in the dark about how they’re spending money and what they’re doing.

Transcript

Former Senator Rex Patrick said to me that transparency is a word that’s only ever shouted from opposition benches. After years and years of virtue signalling from Labor while they were in opposition about the importance of transparency and accountability and the importance of Senate estimates hearings, now that they’re in government it’s an entirely different story. Before they were elected to government we heard endlessly from Labor that the government should be accountable and one of the ways they should be held accountable is an order for the production of documents. Labor has resisted, has voted against or refused to comply, with almost every order for the production of documents on which this Senate has voted. That same attitude is prolific, and they’ve show up again over two weeks of Senate estimates hearings.

I’ve got plenty of criticisms about the Labor Party, yet I’ve got to ask some of the senators from the Liberals: it’s a little rich, don’t you think? While you are in government, there were plenty of motions for the production of documents and evasiveness at Senate estimates. When it comes to accountability and transparency of government information, unfortunately, the Liberal and Labor parties are two wings of the same bird. As former Senator Rex Patrick said so accurately, ‘Transparency is a word that’s only shouted from the opposition benches.’ Once in government it’s all quiet.

Let’s have a look at just some of the transparency that Labor has blocked. Motion No. 124, an order for the production of documents to tell the Australian people how much extra Prime Minister Anthony Albanese cost them to call parliament back for a ridiculous one day of sitting to push his gas industry nationalisation through. It likely cost millions of dollars, just so Labor could pull a stunt and claim they were doing something on electricity prices. Six months later, it’s done nothing. Looking good, not doing good—that’s what matters to Labor.

What was Labor’s response to the Senate ordering them to tell Australia how much this exercise had cost? They may as well have just put a middle finger in the envelope. Not one dollar in costings such is the contempt they have for this Senate and for Australian taxpayers.

Let’s look at motion No. 176, an order to produce documents relating to millions of dollars being paid to political parties for ill-defined grants and programs. What was Labor’s answer? Contempt. Not a single document related to the funding was produced.

What about motion No. 200? Just yesterday, documents were requested in relation to the MRH-90 helicopter crash in Jervis Bay, documents that would uncover if we are putting our Defence personnel at risk of death flying in dodgy helicopters. The government refused to return a single document—not a single document.

Of course this culture of secrecy extended to Senate estimates. We saw witnesses tell outright lies to the Senate and the Labor ministers sit by idly. Ministers raised flimsy public interest immunity claims, if they bothered to raise them at all. In the Foreign Affairs, Defence and Trade hearings, Chief of Defence Force, General Campbell, simply flatly refused to answer questions from myself and from Senator Shoebridge. That’s not how Senate estimates works. If a witness does not want to answer a question, they are obliged to take it on notice and then it is up to the minister to raise a claim of public interest immunity—not the witness. General Campbell knew this. He’s attended many estimates sessions. The Labor minister at the table knew this, yet sat there in silence as the witness treated questions with outright contempt. Again, transparency is a word only shouted from the opposition benches.

Now, we’ve had two constituents, one from Queensland and one from New South Wales, telling us about specific instances that indicate a senior member of one of the departments lied. We’re chasing that up now with a question on notice following Senate estimates. Let’s not forget the unanswered questions on notice. Answers to questions on notice were flowing in while the next Senate estimates had already started. Make no mistake, many of these answers were no doubt available, yet they probably sat on the minister’s desk waiting for a final sign-off. That’s why many of the questions on notice don’t arrive in time: ministers are holding them up. So much for transparency. There is no reason a minister needs to sign off on answers anyway. The truth is the truth. The agency’s answer is their evidence; it’s not for the minister to change.

None of this will change until the Senate fulfils its duty to bring contempt charges against those who treat it with contempt. It is within our power to enforce accountability. A few contempt charges and a couple of witnesses in jail should send a message to the others.

/2 Comments/by

NDIS needs a hell of a good look at

Like Gonski, like the NBN, the NDIS was nothing more than a vote catcher.

Now, its costs have blown out even more, costing taxpayers $700 to $800 million just to try and figure out why it is costing so much.

It seriously needs a good looking into.
/13 Comments/by

There are Jail cells underneath Parliament House, let’s use them

I’ve got a suggestion, if Labor wants to keep disobeying direct orders of the Senate we can show them why there are jail cells underneath Parliament House.

Transcript

I like Senator Farrell. He’s a good bloke. We don’t always agree. I accept that he’s overseas right now. Yet his repeated non-responses are not acceptable. His behaviour is not acceptable, because answering questions is important for accountability. The people that we serve deserve honesty and accountability. There’s only one word to describe this government’s attitude to Senate estimates, to questions on notice and to orders for the production of documents. That word is ‘contempt’. They continue to treat this chamber with contempt. Almost every order by this Senate to produce information is met with contempt from this government, and it is appropriate that we begin to treat appropriately the ministers who treat this Senate with contempt.

We have had explanation after explanation after explanation from ministers. Ministers are all too happy to come into this place and cop a lashing for an hour and continue to refuse to produce the information that this Senate has ordered. The explanations are not good enough. They are intentionally inadequate. It is not good enough that this Senate continues to accept them without any further action. It’s time for this Senate to use its constitutionally enshrined powers to hold ministers to account, and that must be through charges of contempt when they continue to disrespect this Senate’s orders.

I remind senators that it is this Senate, not the government-dominated privileges committee, that makes the final determination on matters of contempt. If this Senate is not happy with a minister’s disobedience of a direct order, then the Senate itself can vote on contempt, which we would do and which should happen. The time for meaningless, hollow blather, in explanation after explanation, is over. Start serving the people or face contempt motions. There are jail cells in the basement. It’s time for the executive government to be reminded why they’re there. That’s not a joke. That is fact. It’s time for the government to be reminded why there are jail cells in the basement.

/24 Comments/by

Parliament passes $15 billion slush fund

The National Reconstruction Fund is a slush fund that makes sports rorts look like chump change.

We have a trillion-dollar deficit, and the Albanese government is throwing around $15 billion like it’s Monopoly money.

It’s time that the government got out of the way of the private sector and personal enterprise.

Transcript

Queensland community, I speak to the National Reconstruction Fund Corporation Bill 2023.

One Nation has, on occasion, pointed out that Labor will run a government for the benefit of their union boss mates, the Liberals for the benefit of their big business mates, and the teals and the Greens for the benefit of their sugar daddies, the billionaire climate-change carpetbaggers. So it was with amusement that I saw an exchange between Minister Gallagher and Senator Rennick on social media over the weekend. Senator Rennick mentioned in a speech that he did not agree with the slush funds that the Liberal-Nationals set up during their government.

I appreciate and compliment Senator Rennick for his integrity. He has shown that repeatedly in this parliament and outside.

Senator Gallagher could not resist. Oblivious to the irony of her comments, Minister Gallagher said Senator Rennick had ‘belled the cat’, admitting to ‘slush funds and rorts galore’. ‘The Bell and the Cat’ is a medieval fable—a cautionary tale on the nature of impossible tasks. Admittedly, it’s an appropriate choice, given the impossibility of the Liberals ever running government for the benefit of the people.

But the irony of the minister’s decision to engage the Liberals on the issue of rorting is tone deaf, considering that this bill was on the Notice Paper at the time. The minister’s words are suggestive of a quite different fable—the pot calling the kettle black, which is 16th-century Spanish homily in which somebody accuses someone else of a fault which the accuser shares and, therefore, is an example of psychological projection—that’s a polite way of saying ‘hypocrisy’.

The National Reconstruction Fund Corporation Bill 2023 is 100 per cent pork barrel—the very thing of which the minister accuses others. This bill creates a $15 billion fund to oversee Australia’s reconstruction. It would have been helpful to define the word ‘reconstruction’, Minister. Minister Husic must have overlooked the fundamental reason for this bill. The word ‘reconstruction’ does not appear in this bill. At a guess, reconstruction must involve infrastructure spending, right? Wrong. The word ‘infrastructure’ does not appear in this bill either. The word was added by the crossbench in the other place, the House of Representatives, as part of their amendment banning—banning!—certain types of infrastructure spending.

The Greens and teals were helpful, as usual! For clarity, that was sarcasm.

The bill does provide for spending on priority projects, yet there’s no definition of what a priority project actually is. I understand these will be manufacturing projects. Why, then, does the bill not mention the word ‘manufacturing’?

Not once is manufacturing mentioned. This is significant because the bill allows the minister to fill in all these details later. Yet if these much needed initiatives—reconstruction, manufacturing and infrastructure—were the purpose of this bill then section 5 would define these concepts and set out what is and what is not ‘reconstruction’, ‘manufacturing’ and ‘infrastructure’. It does not. It fails to do this basic step.

I expected to see a statement of fairness, ensuring projects are funded based on the needs of the region in which the projects are located, having mind to the overarching concept of national interest. There’s a novelty! It doesn’t do that, either—which is not a novelty, because that’s the way this parliament works. It’s not in the national interest.

This bill does have a section on consultation, requiring the corporation to consult with the Australian Banking Association—Minister Jones’s best mates are the first ones on the list; what a surprise!—and the Australian Council of Superannuation Investors, the Australian Council of Trade Unions, the Australian Investment Council, Industry Super Australia and the Law Council of Australia. What an odd list. If this was about infrastructure, the requirement would be to consult with Infrastructure Australia; it’s not there. If this was about manufacturing, then you could consult with Manufacturing Australia, or, to drive manufacturing into a new era, one could consult—one would consult—with the Australian Advanced Manufacturing Council, but no. Taking Australian industry into the emerging space industry offers the prospect of billions in new sales and high-paying breadwinner jobs. The Space Industry Association of Australia should have been on that list; it was not.

There’s $15 billion in funding without once mentioning the fundamental purpose of the spending—$15 billion, without once requiring consultation with the bodies that could help direct this spending to the national interest.

There are no checks, no balances, no guidance to the minister, no guidance to the board of the corporation and no KPIs—key performance indicators. There’s no measure of success, no measure of failure. To call this bill a blank cheque is an insult to blank cheques. And it’s an insult to taxpayers, whose money is being spent.

The Senate Economics Legislation Committee’s inquiry into the bill does cast some light on where this money will be spent. The inquiry heard from multiple witnesses advocating for spending the $15 billion on solar and wind energy boondoggles—more carpetbagging. Australia already has the clean energy fund, spending $25 billion on unreliable, weather dependent power to take us back to before the industrial revolution. If the transition to weather dependent power was actually in the national interest and was dictated by market forces, these solar and wind carpetbaggers would not be buzzing around reconstruction funding like flies in search of excrement. I foreshadow that I will be moving an amendment in the committee of the whole which requires that a corporation cannot invest in an energy project that meets the criteria for funding by the Clean Energy Council—no double-dipping. There is no justification for using this $15 billion of taxpayer money to make Australia’s energy capacity worse.

The title of the bill raises an important question: what exactly are we reconstructing from? Are we reconstructing from three years of ruinous COVID lockdowns and restrictions that gutted the economy—destroyed the economy?

Are we reconstructing from a generation of ruinous net zero measures that have seen cheap, reliable base-load power replaced with expensive and short-lived materials-heavy wind and solar power? Are we reconstructing from the exporting of Australia’s manufacturing sector to China under the Hawke-Keating Labor government in the eighties?

Indeed, discussion on the nuclear subs purchased last week shows that former prime minister Keating has lost none of his loyalty to China. Are we reconstructing from a generation of oppressive development constraints provided across the range of government?

Is it red tape from an out-of-control bureaucracy that demands more and more power with less and less oversight in pursuit of a war against common sense, freedom and basic decency? Is it green tape, designed to make rich, pampered inner-city luvvies feel better about their own environmental footprint while destroying any chance the rural sector has for a profitable business? Or is it blue tape from the mountain of unelected, unaccountable foreign bureaucrats spreading a gospel of everyday Australians having less so that predatory billionaires can own it all? It’s about Australians having less so that predatory billionaires can own it all. That’s their ideological bible. It is not the economy that needs reconstruction; it is the government that needs reconstruction.

Here’s One Nation’s reconstruction plan: just stop it. Stop it. Stop strangling the life out of the private sector. Stop strangling the life out of small business. Stop strangling the life out of families and taxpayers. Stop using taxpayers’ money to pick winners and losers amongst new business ventures, when that task should rightly be performed by the free market and by personal enterprise and initiative, leading to personal responsibility. Stop rewarding your mates in the solar and wind sector, who have spent tens of millions of dollars earnt from renewable solar and wind boondoggles to get pet parliamentarians elected who now have seriously conflicted loyalties. Stop rewarding party donors with taxpayer money dressed up as reconstruction funding. Stop the cronyism.

Australia is not and never will be a centrally planned economy. In fact, no economy will be centrally planned; they all collapse. We have a trillion-dollar deficit, and the Albanese government is throwing around $15 billion like it were Monopoly money. It’s time that the government got out of the way of the private sector, personal enterprise, and let the profit motive and free enterprise competition decide what gets built and what does not. Let the customers decide.

The National Reconstruction Fund Corporation Bill 2023 is last-century Soviet thinking, a product of the comrades deep in Trades Hall who do not seem to have noticed that the Soviet Union has fallen, because it failed
to maintain the standard of living of everyday people. Standards of living in Australia are decreasing—the reverse of what is happening to energy prices. That is one of the many causes. This bill is ideological rubbish designed to reward businesses who promote joining union bosses. That is the sentence the minister will put in later.

Subject to amendments, One Nation opposes this bill.

/6 Comments/by