RBA Boss Warns Banks On Undermining The Economy

Not a fan of the RBA but glad they said this, the Aus banking cartel really needs to be burnt as they are price gouging and always have been! ditch the big four!

RBA's job is to monitor the economy. Banks' job is to make profits for their shareholders. They're no different to phone companies, etc.
RBA is toothless in Australia. There is no mechanism for them to enforce any sanction on banks.
Australia is as close to a free market economy that you will see today. Governments of both colours are unwilling to legislate to prevent "price gouging" or interfere in business practices unless it effects the health of workers - and then only slowly.
BTW you do not have to bank with the big four. There are alternatives. Just remember that a bank is not your friend, they are a supplier of a service. Treat them like any other supplier.

Best thing anyone can do for this country is to ditch the big four. Hope they get caught by their 'profit for our shareholders' (while piggybacking hard workers) mantra and go bust like they did the the US. They've been ripping people off for too long. A lot of people still don't know about the interest spread we pay and the more public this is the better.

Before you talk about ditching anything, you need to have a clear view of something better to replace it with. It's too easy to say "change it" without a better system in mind.
As I said earlier "Australia is a free market economy" - whether you like that or not - and it will remain that way until there is seen to be a need to change.
Australia set on this path in the 1980's and I cannot see any push to change it.
BTW the situation in the US with banks collapsing had nothing in common with the situation in Australia. We were insulated from that "sub-par loans" issue because the RBA prevented Australian banks from participating in them.
The system works. Leave it alone.

Crypto will end the banks. Free-market? what does that even mean, there isn't one at all, it econs jargon 101. 'RBA prevented Aus banks participating?' umm no, that was APRA.