A peek inside the SA Reserve Bank

[msmoorad]

why i say anti semitism is that 99% of the intl banker/financiers/industrialists are Jewsish- actually those at the top are Satanists.
they use the anti-semitism card whever they are exposed. and their financial clout even ensures that those in govt positions in most countries or in any decision making position are under their control.
the rest of the Jewish people are trained to think that it is them that is being threatened somehow.
so they hide behind the righteous indignation of their brethren.

[Dave A]

If ever you needed proof you can't believe everything you read on the internet...

[sgafc]

Allegations of rituals killings at Rothchilds villas are all over the internet. Hard to believe, yes. But surely the Rotchilds with all their money can take the web owners spreading these "lies" to court? One blog owner challenged them to do exactly that, and undertook to produce the evidence...nothing happened.

[Frankincense]

...in light of the way in which they have openly handled global affairs within their family's ambit (The Rothschilds), witnessing these alledged killings wouldn't add much terribleness to the hundreds of thousands they kill in the wars they sponsor over the many years....

[I Robot]

Cabinet approves the South African Reserve Bank Amendment Bill

3 May 2010

The South African Reserve Bank (SARB) is a crucial national institution which is required by the Constitution to serve the economic interests of all South Africans. The Constitution mandates the SARB to perform its functions independently and government will continue to ensure that this independence is not compromised.

Section 224(2) of the Constitution requires that the SARB "in pursuit of its primary object, must perform its functions independently and without fear, favour or prejudice"

The bank was established in 1921, and is still governed by an Act of Parliament (1989) that precedes the Constitution. The bank also has private shareholders. This requires government to regulate the activities of the private shareholders to ensure that their interests do not undermine public interest and that the SARB's independence is not interfered with.

It has come to the attention of government that a number of shareholders are involved in activities which could undermine the bank's independence.

The governor of the Reserve Bank had conveyed these concerns to shareholders in March this year, stating that "profit making should never be a motive for holding shares in the bank.

The bank is neither desired nor expected to maximise profits. The fixed dividend paid and the limited voting rights available to private shareholders underline the fact that the bank, like its counterparts in other countries is; a public entity that acts in the public interest, self-interested profit motive of a very small minority of shareholders, does not appear to care about the national interests of the Republic of South Africa".

Cabinet considers this to be unacceptable and has agreed that urgent legislative steps must be taken to protect the bank's independence.

At its last meeting on 21 April 2010, Cabinet decided to:

* Further secure the independence of the bank and ensure that it continues to serve the national interest
* Approve the South African Reserve Bank Amendment Bill for tabling to Parliament. The bill proposes amendments to the principal South African
Reserve Bank Act of 1989, and introduces measures to prevent negative interference in the operations of the SARB
* Initiate a total review of the legislative framework of the SARB with a view to entrench the independence of the SARB and its role in enhancing South Africa's national economic interests.

The bill proposes the following:

* Reinforcing the requirements on the limitation on shareholding to prevent abuse by shareholders
* Amending certain definitions in the principal SARB Act
* Clarifying the powers and functions of the SARB Board
* Providing for the establishment of a panel for the election of directors to the SARB board
* Providing for the nomination of directors by a broader base of the South African public
* Broadening representation on the SARB Board
* Defining clear criteria to disqualify persons from serving on the Board and
* Providing for the possible re-appointment of the governor and deputy governor to serve terms of office of less than five years.

Details of amendments:

* Limit the scope of circumventing shareholder rules

The act currently limits shareholding to a maximum of 10 000 shares per shareholder. The amendments to the act seek to curb circumvention of this limit by introducing the concept of "associate" and "close relative" and extend the restriction to such associates and close relatives.

The purpose is to ensure that no shareholder can create a "bloc" of voting interests; thereby exerting influence that was clearly intended to be limited by setting a maximum number of shares that could be owned and voted on by any individual or institution.

* Broaden the base for nomination of directors on the board

The act currently provides for the election of seven independent directors by the shareholders. The amendments broaden the base from which to draw independent directors by enabling nominations to be made by the general public. The act also requires four directors with expertise in commerce and finance.

The amendments reduce the number of directors with expertise in commerce or finance to two and substitute the same with expertise in labour and mining. The number of government appointed directors will be increased from three to four, taking the size of the board to 15.

* Defining clear criteria for disqualification as director

The grounds for disqualification of serving directors provided for in the act are insufficient for corporate governance purposes. The amendments seek to extend the grounds to include un-rehabilitated insolvents, persons dismissed from positions of trust for misconduct, persons with criminal records and persons with mental and other incapacities.

The amendments provide for termination of directorship as a result of unexcused absenteeism, failure to disclose conflicts of interests, unlawful disclosure of confidential information and breach of duty.

* Introduction of fit and proper requirements for directors

The lack of criteria for the appointment to the board could lead to the appointment of unsuitable directors adversely affecting the governance of the Bank and impairing independence. The amendments introduce fit and proper requirements based on an objective assessment commensurate with skills and experience.

The amendments further make it clear that directors owe their fiduciary duties and duties of care and skill to the bank. The amendments also introduce a screening process for the appointment of directors.

* Clarification of the role of the board

The amendments reinforce the corporate governance role of the board and firmly vest the bank's other powers and duties in the governor and deputy governors.

* Term of office of the governor and deputy governors

The act currently prescribes tenure of five years for the appointment of the governor and deputy governors. The amendments introduce flexibility when a second or subsequent terms are considered, enabling reappointment to be for an agreed period of not more than five years per term.

Legislative process

These amendments will be submitted to the Speaker of Parliament and will be gazetted for public comment during the course of the week starting on 3 May 2010. Public hearings are envisaged to be held from mid May 2010.

Interested persons and institutions are invited to submit written representations on the bill to the secretary to Parliament by no later than 17 May 2010. Further documents will be available electronically on the National Treasury website: http://www.treasury.gov.za.

Public submissions must be addressed to:
The Secretary to Parliament
Care of (c/o): Mr Bradley Viljoen
Committee Section
Parliament of the Republic of South Africa
P.O. Box 15
Cape Town
8000

Mr B Viljoen can be contacted at:
Tel: 021 403 3759
Fax: 021 403 8204
E-mail: bviljoen@parliament.gov.za

More...

[Dave A]

The act currently provides for the election of seven independent directors by the shareholders. The amendments broaden the base from which to draw independent directors by enabling nominations to be made by the general public. The act also requires four directors with expertise in commerce and finance.

The amendments reduce the number of directors with expertise in commerce or finance to two and substitute the same with expertise in labour and mining.

Whitling away from the financial expertise requirements - I really don't think that's a good idea.

[irneb]

* Limit the scope of circumventing shareholder rules

The act currently limits shareholding to a maximum of 10 000 shares per shareholder. The amendments to the act seek to curb circumvention of this limit by introducing the concept of "associate" and "close relative" and extend the restriction to such associates and close relatives.

The purpose is to ensure that no shareholder can create a "bloc" of voting interests; thereby exerting influence that was clearly intended to be limited by setting a maximum number of shares that could be owned and voted on by any individual or institution.

Yeah right, they'll be able to police this worldwide! It's not very difficult to hide your identity / affiliations behind several layers of different countries' rules. I'd rather want to see this changed to disallowing shareholders who are not RSA citizens!

* Broaden the base for nomination of directors on the board

The act currently provides for the election of seven independent directors by the shareholders. The amendments broaden the base from which to draw independent directors by enabling nominations to be made by the general public. The act also requires four directors with expertise in commerce and finance.

The amendments reduce the number of directors with expertise in commerce or finance to two and substitute the same with expertise in labour and mining. The number of government appointed directors will be increased from three to four, taking the size of the board to 15.

Doesn't this actually contradict the previous? Or at least make it even more difficult to enforce? And why should the board be increased? Why not replace one of the privately appointed directors instead? And Dave's correct! Why lessen the expertise? It's like saying the board should become less able to perform its duties! Become less of a financial institution and more of a governmental hotch-potch of untrained & inexperienced leaders!

* Defining clear criteria for disqualification as director

The grounds for disqualification of serving directors provided for in the act are insufficient for corporate governance purposes. The amendments seek to extend the grounds to include un-rehabilitated insolvents, persons dismissed from positions of trust for misconduct, persons with criminal records and persons with mental and other incapacities.

The amendments provide for termination of directorship as a result of unexcused absenteeism, failure to disclose conflicts of interests, unlawful disclosure of confidential information and breach of duty.

This to me is the most enlightening (or rather en-"darkening") of all. A normal company's directors are already disqualified if they have been found insolvent or guilty of some type of fraud. Just shows how open to corruption the SARB was (and still is before this act)!

* Introduction of fit and proper requirements for directors

The lack of criteria for the appointment to the board could lead to the appointment of unsuitable directors adversely affecting the governance of the Bank and impairing independence. The amendments introduce fit and proper requirements based on an objective assessment commensurate with skills and experience.

The amendments further make it clear that directors owe their fiduciary duties and duties of care and skill to the bank. The amendments also introduce a screening process for the appointment of directors.

Scratch the previous, this is even worse! I.e. previously the director had no responsibility to the bank itself? WTF? Meaning he may do as he pleases, even if it's fraudulent!

What I'd like to know is what is meant by "fiduciary duty ... to the bank"? Is that "parental-like" responsibility to the aims of the SARB (i.e. to the country's economic welfare)? Or is it towards the shareholders - as defined in the company law where this same clause is aimed at the shareholders, rather than the company (as it's defined as 2 separate entities / groups). Or is this some sort of gray area - i.e a nothing clause, which sounds great, but does squat!

[Frankincense]

what to do?



it is alive!









Would you like to buy or sell? Welcome...you are free to do as we tell you.

[Frankincense]

Peek - a - Boo!!! ....but the veil remains....

http://www.sarb.cc/index.php?/categories/1-Shareholder




...as you may know by now....the "Illuminated" ones (founders) who own more than the 10 000 share cap only introduced in the early 2000's don't appear here on this "official register"........WTF!!!

666 for shizzle.....and some will sizzle.....

Genesis.....uuuhhhmmm......EXODUS!!!!!!







ALL of the organs of state are corporations privately owned (will provide links at the bottom of this post) and foreign corporations:

1. Parliament of South Africa
2. Republic of South Africa
3. Government of the Republic of South Africa
4. etc.

They are corporations masquerading as our “country” and our “government”. R.S.A’s “head office” is in Washington DC. Parliament and R.S.A are registered in NY. The SIC code for R.S.A is 8888 which according to an insider refers to a “Royal Corporation”.

The purpose of the structures on the outset may seem “legitimate” however the true intention is to create debt via a system that has been made plausible via legislation (otherwise it would be fraud). Its a dog and pony show with the aim of enriching international cartels via sophisticated debt mechanism. In a nut shell what happens is these companies take out massive international loans via these Cartels (that create this “money” out of thin air) and then make the people of the land work like slaves to pay this loan off via the fiat legal tender that the company R.S.A has legislated. One of the methods to generate these loans is to use organizations such as Eskom / Telkom / etc. to take out huge loans from the likes of the World Bank. The “Government” will take out loans as well as will SARB. Next the governments TAX the sh*t out of the people in order to re-pay these “loans”. This is how our energy leaves our communities never to return. Their police force (policy enforcement officers) are the stick they use to beat us into submission and the courts (another group of companies) is used to give us the false sense of security that there is justice.

I have nothing against TAX as I want to give back to my community. If I could have it my way I would give 100% of my labour to my community, anyway, only a ‘tiny’ percentage of TAX is going to make it back to where it is intended, the rest leaves our communities never to be seen again under the guise of paying off fraudulent debts that suffer from compound interest “that where taken out in our best interests…”.

Think of it this way, if this international money was valuable we would swap Gold (which we have in abundance) for all the loans we require thus eliminating the need to pay of interest. And once we where done with the “money” we would simply buy back the Gold with that “money”. No interest re=payments required no energy loss for our society and our Gold reserves neatly back in place. But of course that would not benefit the few with their myopic views and narrow minded bigoted attitudes who would rather destroy this world for their own good than see the people prosper.

Imagine we stop paying income tax because the definition of the “republic” in the act limits its jurisdiction to the corporation (you do not live in a corporation do you?)


Note – the name in your ID book / passport / Drivers license, is owned by R.S.A – that is why they can enforce company policy on you (since you mistakenly think the name is actually you... You have no obligation to play the role of the name. This will be our most powerful defense to tyranny...and once the buying and selling is clearly based on your name/number ....many will stop playing thier role... Thank God!!!!

I love this land, I love the people, and it hurts me when I see so much suffering and misery and hopelessness.

Here are those links to the above corporations:

R.S.A: http://www.sec.gov/cgi-bin/browse-ed...clude&count=40

R.S.A – Government: http://www.sec.gov/cgi-bin/browse-ed...ion=getcompany

DnB: https://smallbusiness.dnb.com/ePlatf...ome*gws*lookup

SIC 8888 Other Royal Corporations: http://www.sec.gov/cgi-bin/browse-ed...art=0&count=40



SA is dominated by 4 banks... ABSA is the government bank controlled by the UK/Barclays/Rothschilds... The lifeboats arranged by the SARB for ABSA were bigger then 5 Billion Rand... They got the money about 12 years ago... No penny is turned back, no interest is paid. In charge at this time, Deputy Governor of the SARB was Gill Marcus, later CEO of ABSA and today Governor of the SARB. Marcus, Mboweni, Stals, Gordhan, Manuel and Ramos blunder this country... It seemed necessary to ship more then 40 tons of Gold to London – SARB and ABSA arranged it some months ago ...

You are free to do as we tell you!

[tec0]

Ok, maybe I am just stupid... if all land, mines and “profitable businesses� are taken and privatized by our government for government, then basically all this becomes the property of " UK/Barclays/Rothschilds... " ???