Monday, 8 July 2013

South African Reserve Bank Was Served

The March Against The Banks Memorandum - was successfully delivered to the office of Gill Marcus - Governor of the South African Reserve Bank AND Rene van Wyk - the Registrar Of Banks in South Africa today, 8th July 2013. The content of the memorandum is below - please study it and share it.


March against the banks – 6 July 2013  - Sandton South Africa

Attention: Gill Marcus and the Board of Directors.
You are hereby required to respond publically and via email to all questions contained in this memorandum within SEVEN days from date above.

We, the concerned people of South Africa, hereby declare that the RESERVE BANK OF SOUTH AFRICA (SARB) is a private corporation, with shareholders all over the world, that has somehow found its way into the CONSTITUTION OF THE REPUBLIC OF SOUTH AFRICA and has for some inexplicable reason been allowed to print their privately owned and controlled money as the official currency of the land and thereby dictate the financial policy to its people. Its primary objective is to make profit and to keep its shareholders happy. SARB has no interest in the wellbeing of the people of South Africa.

All of us who participate in national election believe that the duly elected government is the servant of the people, to perform the will of the people. The people feel that they have at least some say in the running of the country by electing its leaders.

Unfortunately the people have no control or any say whatsoever about the activities of SARB and we are all at the complete mercy of the financial decisions that SARB makes on a daily basis. SARB continues to operate as a completely independent entity not answerable to anyone and seems to be above the law at all times. It is unimaginable that the president, minister of finance and minister of justice have not recognised the complete control and stranglehold that SARB has over the people of South Africa and has not as the servants of the people taken the necessary corrective steps to change it for the benefit of the people.

At the same time SARB is supposed to be responsible through the office of the Registrar of Banks, whose office is in the SARB building in Pretoria, to monitor the activities of all banking institutions and take the necessary steps and corrective measures when banks act outside their mandate. This has clearly not been happening as South African banks have been operating like rogue economic cowboys causing financial misery and destruction in our country.
The Registrar of Banks has bluntly refused to answer questions that implicate the banks in criminal activity and in so doing, he has implicated SARB in the same fraudulent action.

By not implementing any control or taking punitive measures against the banks that have been committing fraud against the people, lying under oath, presenting false evidence, and destroying people’s lives with their actions, SARB is complicit with the crimes of the banks. The senior management and directors of SARB must face the same criminal charges as their banking colleagues.

The time has come for the people of South Africa to realise that our lives are being completely controlled by a private corporation called THE RESERVE BANK OF SOUTH AFRICA, by printing their private worthless FIAT currency which is enforced on the people. It is time to take the necessary steps to change it.

We call on the chief servant of the people, the president of South Africa, to support the people of South Africa in declaring the activity of SARB unconstitutional and unlawful. To further support and expedite the closure of the Reserve Bank and replacing it with a PEOPLE’S BANK, that issues money for the people, by the people, backed by gold, platinum and other minerals that belong to the people. 

Please respond to each point below to the best of your ability to clarify information about the RESERVE BANK to the people of South Africa.

1)    Who are the owners of SARB – please provide a full list of names of ALL owners and shareholders and their respective shareholding in the company. The South African people have a right to know who the people are behind making all the financial decisions behind their backs.
2)    What is the relationship between SARB, the FEDERAL RESERVE BANK of the USA, the BANK OF ENGLAND, and the INTERNATIONAL BANK OF SETTLEMENTS?
3)    Are there any common shareholders in these three corporations? If so please list them.
4)    What is the average total monthly payment made by SARB to the gold mines and all other precious metals mines?
5)    As a private corporation, where does SARB get the money to pay for all the gold and other precious metals that it takes under its care on a regular basis from the many mines in South Africa?
6)    Why does the printed money by SARB no longer state “I promise to pay the bearer on demand”?
7)    As it stands, the ZAR money notes printed by SARB are worthless pieces of paper, that only remain in circulation because the people have no other option. Confirm of deny.
8)    Explain why the ZAR money printed by SARB has any value at all?
9)    How does SARB make the final decision to print money?
10)    Who is responsible for making this decision?
11)    Explain how Fractional Reserve Lending works and how banks are allowed to create money out of thin air.
12)    Explain how the Matching Principal of debit / credit instrument swopping is used by SA banks to create loans out of thin air.
13)    Explain what Seigniorage is and how it works.
14)    How much was paid to the SA Government in 2012 in the form of Seigniorage?
15)    Where in SARB’s financials, and the SA government’s financials is this money recorded and reflected for the people to see?
16)    Why is the public precluded for participating in monetary policy?
17)    Why is the public precluded from lodging complaints against Banks with SARB?
18)    Should a bank fail, does SARB have sufficient capital to bail-out or rescue a bank?
19)    If so, explain how and why?
20)    Should a bank fail, does SARB have sufficient money to pay back the clients of such banks? Explain.
21)    If there is no such guarantees by SARB, what other safeguard is there available to the clients if a bank should fail?
22)    The SARB stands as guardian to oversee the Banks, why has it failed to address securitisation in terms of the provision of the Constitution 1996, transparency and freedom to access of information?
23)    Why should the consumer be contributing to their banks – e.g. deposit fees, accounts fees and transactions fees, if the banks benefits from these transactions?
24)    Is SARB prepared to convert and become a PEOPLE’S BANK and print interest free money for the people by the people? If not, why not? If YES, when and how?
25)    State any reasons why the people of South Africa should continue supporting your private corporation called SARB instead of creating their own PEOPLE’S BANK to create money for the people, by the people?

Please note that your responses, or lack of response, will be used as evidence in all future legal action against the banks which already include charges of criminal activity against the management and directors of a specific bank.

In Pure Truth
Michael of the family Tellinger
Founder of the UBUNTU Party and UBUNTU Liberation Movement.
Born free as a living breathing human being of flesh and blood and infinite soul with inalienable rights from the creator, without the pledge of allegiance to any institution or my permission to be enslaved in any way.