From:                                         Philip Johnston <scribepj@bigpond.com>

Sent:                                           Wednesday, November 4, 2020 4:21 AM

To:                                               'susan.grusovin@aph.gov.au'

Subject:                                     Yesterday I posted to Paul Keating evidence that the RBA has breached its Statutory Duty pursuant to Section 10(2) of the Reserve Bank Act 1959 that obligates the RBA to "best contribute to.... the economic prosperity and welfare of the people of Aust

Attachments:                          20201028_110544.jpg; CreditCardsCD_28-Oct-20.jpg; CreditCardsCDCase_28-Oct-20.jpg; Letter_to_Paul_Keating_28-Oct-20.htm; Questions_Table.htm; Facts_Sheet_for_Paul_Keating.htm; Defined_Terms_&_Documents.htm

 

Susan

 

I  resend my below email sent last Thurs, as I might not have included the 7 attached files that are herein attached and referred to in my below email.

 

Apologies for my oversight if these 7 attachments were not attached last Thursday .

 

NB:      Nice to see the RBA has now acted on Paul Keating’s request (a month ago) by buying long dated Govt bonds, thereby increasing the money supply of fiscal revenue – Q.E.

 

Phil Johnston aka  Bank Teller
0434 715.861

 

From: Philip Johnston [mailto:scribepj@bigpond.com]
Sent: Thursday, October 29, 2020 7:25 AM
To: 'susan.grusovin@aph.gov.au' <susan.grusovin@aph.gov.au>
Subject: Yesterday I posted to Paul Keating evidence that the RBA has breached its Statutory Duty pursuant to Section 10(2) of the Reserve Bank Act 1959 that obligates the RBA to "best contribute to.... the economic prosperity and welfare of the people of Aust

 

Susan

 I worked for CBA for 37 years prior to retirement and had dealings with four RBA personnel in Note Issue Dept.  Albeit it was many moons ago when the RBA was a creditable ‘central bank’ regulator that kept the commercial banks in check because of the RBA’s (below explained) obligation to "best contribute to.......... the economic prosperity and welfare of the people of Australia" that has sat within the Reserve Bank Act 1959 since it replaced the Commonwealth Bank as Australia’s ‘central bank’ a smidgeon over 60 years ago.   

 

Australia’s ‘central bank’s charter, when Commonwealth Bank of Australia was the ‘central bank;’, and post 1960 when the RBA became Australia’s ‘central bank’, has been to protect Australians with poor financial literacy capacity.

 

I refer to my phone call with you at 9358.5466 (approx two weeks ago) when I told you that I would like to post on CD (and optional USB Stick) a letter to Paul Keating that explains/chronicles a welter of conclusive evidence that the RBA has breached its Statutory Duty, pursuant to the below two Sections of the Reserve Bank Act 1959, to Credit Cardholders with poor Financial Literacy Capacity that have been exposed to Predatory Marketing by some Credit Card Issuers and suffered Extreme Financial And Emotional Distress paying in excess of $20,000 in interest and fees on multiple Credit Cards: 

·         Section 10(2) 'Functions of Reserve Bank Board' of the Reserve Bank Act 1959 that obligates it to "best contribute to.......... the economic prosperity and welfare of the people of Australia".

·         Section 11(1) of the Reserve Bank Act 1959 due to not having informed respective Govts that it, the RBA, needed to re-impose a Maximum Interest Rate ‘cap’ on Credit Cards which stood at 18% until it was lifted in April 1985 when the Overnight Cash Rate was 17.2%.  The maximum spread between the current Overnight Cash Rate of 0.25% and the highest Latitude Financial Credit Card is now over 28% which is an Unconscionable Usurious interest rate.

 

Embedded threads in the CDs and USB Sticks render it easy to readily access/navigate supporting evidence relied upon.  Back in the olden days one had to flick thru hundreds of pages of physical Annexures in A4 when considering allegations made and supporting evidence relied upon.

 

At my behest, you gave me your email address.

 

1st Attachment is a photo of an envelope that I posted yesterday to Paul Keating’s Potts Point post box that contains –

·         3 x CDs (2nd and 3rd Attachment),

·         3 x USB Sticks; and

·         3 parcels of A4 hardcopy of my explanatory letter to Paul Keating,

that provides a welter of evidence that the RBA has breached Section 10(2) by abrogating its obligation/duty to "best contribute to.......... the economic prosperity and welfare of the people of Australia", in particular to Australian adults who, through no fault of their own, possess poor Numeracy, Literacy and Pross skills, as quantified in voluminous published reports by the ABS and the Productivity Commission.

 

4th Attachment is my Letter to Paul Keating dated 28 Oct 20 that will auto open if any of the three CDs is inserted in the CD Drive of a Windows Operating System and then following the mouse prompts provided at the top of my 4th Attachment.

Below is an extract:

Section 2 B. of Extensive Powers and Responsibilities evidence that the RBA's powers and obligations to 'inter alia' "best contribute to.......... the economic prosperity and welfare of the people of Australia" are "unique among central banks" and exceed the obligations upon the USA and UK 'central banks', U.S. Federal Reserve and The Bank of England respectively, to their peoples' economic prosperity and welfare.

 

My 5th Attachment is an ‘Evidence Facts Sheet’ to read the evidence/facts and agree them or dismiss/discount them.

 

My 6th Attachment contains over 400 ‘Defined Terms of Documents’ to ensure integrity and avoid ambiguity.  Each of the +400 threads therein open a supporting file to ensure clarity/certainty, so that the writer and the readers are on the same page.

 

Below are two other extracts from the early part of my Letter to Paul Keating dated 28-Oct-20 (4th Attachment):

 

In May of this year, Choice CEO, Alan Kirkland, asserted that Credit Card Providers have stolen $6.3 billion from customers “by failing to pass rate cuts on for credit cards, banks have effectively stolen $6.3 billion from the pockets of Australians,” Mr Kirkland said   "The 10 worst credit cards in Australia – and why you should avoid them like the plague"

*    "CHOICE is calling on banks to cap interest rates at 10% to stop the spread of long-term credit card debt"
*    "High-interest cards can have you paying back nearly ten times more in interest than low-rate cards over the long term"

 

 

Would you send one CD, one USB Stick and an A4 hardcopy of the above Attachments (that I posted yesterday) to two different 'constitutional lawyers' to opine on -

A.     my allegations against Australia’s ‘central bank’ in my letter to Paul Keating (4th Attachment); and

B.    Thirty-Two Questions Directed at Three Financial Services Regulators, or a Royal Commissioner, and Supporting Evidence that warrant each question (5th Attachment) ; and

C       my easy to appraise Evidence Facts Sheet?  (6th Attachment)

Some people like using a CD which auto opens at this page (in a Windows Operating System), whereas others prefer to use a USB Stick and navigate to open this page.

By following the written instructions at the top of this page, the two 'constitutional lawyers' will be able to appraise the veracity of my allegations herein.

 

Phil Johnston aka  Bank Teller
0434 715.861