What’s Really Going on? Banks and Higher Figures Taking our Cash.

Australia's inflation gauge surged in the past month, primarily driven by steep increases in fuel prices and rising rents. This signals an ongoing struggle in the battle to curb rising household costs. In August, the Consumer Price Index (CPI) reached an annual rate of 5.2%, as reported by the Bureau of Statistics. This marked a notable uptick from the 4.9% figure recorded just a month earlier, effectively undoing the recent efforts to stabilize inflation.

The Reserve Bank of Australia (RBA) is scheduled to convene next week to make its first interest rate decision under the leadership of the new governor, Michele Bullock. The RBA board has previously hinted that the current official cash rate of 4.1% may need to rise further if inflation persists beyond expectations.

Several factors have contributed to this inflationary pressure, including a 30% increase in crude oil prices, soaring petrol costs, and a doubling of basic household expenses. In conjunction with the government's inability to rein in rising property prices and the skyrocketing costs of utilities, both the RBA and commercial banks have continued to raise cash rates and interest rates.

THEY SEE THE STRUGGLE AND SUPPOSEDLY LISTEN BUT STILL INCREASSE EVERYTHING THEY CAN.

It's becoming increasingly difficult to ignore the possibility that banks, and the government are discouraging people to hold cash.

The trajectory seems to point toward a future where borrowing becomes the norm as individuals find themselves with limited cash reserves.

In such a scenario, banks could exert greater control over the population, and the path forward appears to be leading us towards this outcome.

Many individuals are already living day-by-day, and the question arises: what more do they want from us? The increasing cost of living is a burden that many are already grappling with, and the future implications of these trends are concerning for those who seek financial stability and independence.