ESKOM Deceives the People - Wastes 368 Billion Rand

This information was taken from the ESKOM website on the 22^nd Dec 2010.

It clearly shows that ESKOM has spent 368 Billion Rand on upgrades in 2010. In a country of an estimated 50 million people, this means that ESKOM has spent an average R7360-00 per person, including babies. This is an average of R30,000 per 4 person household.

NOW – do you still think that ESKOM is trying to help the people of South Africa to get cheaper electricity? They are abusing the people, lying to the people and acting unlawfully against the people of South Africa.

Capacity expansion programme by project (including interest capitalised)  Project   Total approved project cost Rm   Total inception to date expenditure Rm   Camden   6 061   5 739   Grootvlei   7 803   7 107   Komati   12 965   8 402   Kriel   1 973   1 035   Arnot   1 496   1 233   Matla refurbishment   3 564   689   Duvha   2 450   58   Majuba rail   4 235   238   Ingula   21 800   6 131   OCGT and Gas 1   8 762   7 861   Sere   3 356   40   Kusile   141 500   14 697   Medupi   125 500   32 076   Tutuka   185   2   Camden rail   63   9   Transmission projects   26 800   13 623   Total   368 513   98 940

It is evident from ESCOM financials and website that it has taken a loan by floating a BOND or several BONDS through the government on the international stock markets. This is a form of securitisation where the promissory notes, or contracts containing the signatures of all ESCOM customers are sold to third-party investors as surety for future payments. This is unethical, unconstitutional and contrary to the greater public interest of the people, in essence selling the people of South Africa into slavery to outsiders.

The founders of the UBUNTU Party have extensive experience and knowledge of these deceptive activities from part of the legal action that we brought against all the major banks in South Africa, the South African Reserve Bank, and the Minister of Finance in the Supreme courts and even the Constitutional Court, in an attempt to declare the actions of the banks unconstitutional. So far we have not been successful, while millions of people lose everything due to the unlawful and fraudulent activities of the banks that are supported by the courts and judges. For more in this please see www.newera.org

This is a highly convoluted system of manipulating money so that very few people actually understand how it all works – but it exposes the deceptive and unethical behaviour of our government and ESCOM.

If this is the case, which we believe it to be, it also means that there should be no more outstanding debt by ESCOM, and that the bank is profiteering from each and every one of us. We the people should not be held liable for any such debt created on our behalf, without our knowledge, because the bank and ESCOM has lost all rights or ‘locus standi’ to the amount of the loan from the moment it was sold and securitised.  The loan is already paid off and we should have free electricity.

This is only a short introduction to the underhanded and deceptive actions of our leaders, together with the international bankers. We send them love and we hope that they recognise the harm they are causing us all and change their ways.

http://www.ubuntuparty.org.za/p/home.html