Message From The New Economic Rights Alliance
The banks are taking entire salaries out of people's bank accounts. In "some cases" this is for the payment of a debt. (Watch this clip from SABC news here and realise just how out of control the situation has become.)
As Finweek quotes [source]: "Banks are lending out computer-generated promises used as money but the assets they foreclose on, and the lives they destroy, are very real." And, as The Times reports [source], “By securitising the debt and selling it off to third parties… the banks no longer legally had the right to foreclose on home loans.”
When banks make loans, the entire amount of money used to make the loan is created by a computer. There is no physical loan as ordinary people would understand it. Why is our money-lending system so secret?
To help us answer these questions, we ask you to formally join our High Court Case here.
Debt Counsellors are in the trenches, witnessing first-hand the devastating effect of the banks’ rampage upon the people. They are fighting back. In fact, the Debt Counselling Industry is doing everything in their power to stop a process called “voluntary debt mediation.” According to the DCI, what looks like an attempt by banks to help alleviate customer debt, is nothing more than a ruse. The banks are desperately seeking to take control of the customer and circumvent the debt counsellors, and possibly the National Credit Act as well. Read these articles here, here and here. The DCI is fighting this with everything they have.For this reason, we are proud to announce a Union of debt counsellors who fully support the NewERA. The Debt Counselling Union (DCU) will add significant weight to the NewERA. We encourage all debt counsellors to join the DCU here. With Debt Counsellors on board, we now have even more firepower behind us.
For up to date news on this, see http://www.thedci.co.za/debtfree.php.
But none of this matters as much as you, the consumer. If you have not already done so, please pledge your support for a protest rally in all major centres around the country. Click here to support us.
Please take the time to take action.
THE NEW ECONOMIC RIGHTS ALLIANCE