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Thread: What the Reserve bank are being told not to tell you?

  1. #1
    Diamond Member wynn's Avatar
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    What the Reserve bank are being told not to tell you?

    The article in the 'Daily Maverick' deserves a proper read if only to show what the Reserve Bank is hiding away from us.

    Ciex is prepared to get it all back on a contingency basis for 10% of whatever is returned to us, the 'Powers that be' are obviously asking what is in it for them?

    http://dailymaverick.co.za/opinionis...reconciliation

    "But there’s more – literally, a huge pot of gold out there which is yours for the asking. It’s the R26 billion which Public Protector Thuli Madonsela has targeted in her investigation into apartheid-era corruption proceeds.

    Madonsela’s investigation, buried in the bluster of the Cele Report last month, appears to be founded on a 1999 report by a UK-based company named Ciex, run by a former chief of MI6, Michael Oatley.

    The report outlines what the Sunday Independent recently described as “a smorgasbord of corruption and looting of public coffers in the final years of the oppressive apartheid regime”.

    The report said the South African government could retrieve:

    •R3.2 billion from Absa.
    •R3 billion to R6 billion from Sanlam and Rembrandt, major investors in Bankorp.
    •Up to R5.5 billion from French aerospace manufacturer Aero-spatiale/Daimler-Chrysler.
    Ciex also claims that Armscor, the state arms company, siphoned R14.4 billion through “Luxemborg accounts, managed through the Paris Embassy”.

    R26Billion (my calculator can't count that much) imagine how many
    RDP houses (577million houses @ R45,000 ea, whew!!) or schools, clinics, hospitals and roads that could buy???
    Imagine what it would do to our economy???

    See also http://www.iol.co.za/sundayindepende...tPageLayout.ot
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    Gold Member Sparks's Avatar
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    What makes you think it would go into the "economy" if it were retrieved?

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    Diamond Member wynn's Avatar
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    You spend R26Billion on infrastructure and see what it does to the economy. If of course it reaches the infrastructure and not deep pockets.
    "Nobody who has succeeded has not failed along the way"
    Arianna Huffington

    Read the first 10% of my books "Didymus" and "The BEAST of BIKO BRIDGE" for free
    You can also read and download 100% free my short stories "A Real Surprise" and "Pieces of Eight" at
    http://www.smashwords.com/books/view/332256

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    Site Caretaker Dave A's Avatar
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    The failed bail-out money in the Santam and Bankorp collapses has come up a few times over the years. What doesn't seem to be mentioned in these latest reports is the original reason it was decided not to pursue recovery - if it was pursued, the buyers wouldn't have taken on the bits and pieces they did - something that affected lots and lots of ordinary citizens.
    The trouble with opportunity is it normally comes dressed up as work.

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