Presently, the South African economy is in big chaos—prices of stocks have abnormally gone down, businesses have not been performing well, and the value of ‘Rand’ is on all-time low.
Thanks to the efforts of the white capitalists, led by Johann Rupert and Pravin Gordhan, who have been on the witch hunt of the national treasury, therefore, having plundered the whole economy. And since they have the know-how to exploit the financial and government machineries, their attempts of loot have been successful till now.
Trevor’s Biggest Witch Hunt So Far – R26 Billion National Treasury Loot
Right from the era of apartheid and from the outset of the globalization as well, all the major sectors have been at the disposal of the white capitalists to loot which they have exploited very well to garner illegal wealth. However, many incidents of economic loot can be counted on the behalf of the whites, but we are quoting the biggest economic scandal till date in South Africa. The biggest witch hunt on the national treasury by ABSA, which amounts to R26 billion, hand-in-glove with South African Reserve Bank (SARB). This act of corruption was the product of the most controversial mind of #WMC, who is none other than the stellenbosch mafia Johann Rupert. It was his influence (via Former FinMin Trevor Manuel) that SARB kept a conspicuous silence over the whole matter and even supported him. Moreover, he got his support from his accomplices Trevor Manuel and Pravin Gordhan, former Finance Ministers, who misutilized their powers to stall all the inquires of investigative agencies looking into the matter.
SARB even underwrote many illegal bonds for illicit financial outflows in this corruption act. It has been identified that the source of funds used to buy shares from Old Barclays by Anglo American to form FNB 1986 was from the same looting of ABSA & SARB and not from Anglo American. This amounts to hundreds of billions profited many parties, including Johann Rupert’s Rand Merchant Bank (RMB), ABSA and Associates, FNB and Associates, and all old SARB shareholders.
Strong Evidence Which Can Lead To The Prosecution Of The Accused
There are many substantial pieces of evidences in the corruption cases against Johann Rupert and Pravin Gordhan, but still, they have not been brought to the book. Like the former ABSA CEO Steven Booysen had smuggled R3.8 billion by using Johann Rupert lobby and used the SADEC free trade agreement on the suggestion of Pravin Gordhan. As Pravin Gordhan was notorious for his manipulative economic practices, he managed the money route in such a way that the money got higher returns as per the exchange rate.
The money was smuggled to Mauritius (Investec Bank) the transaction was done via Johan Koen Forex Cape Town. This was done to reward Steven Booysen for his role in the Absa/SARB collaborated fraud and theft by the Broederbond now known as (spiderweb).
The money was returned to the country but Koen was instructed to wait until the Rand/Dollar exchange was R8. This happened a few days before the official opening of FIFA world cup. This constituted to an Act of inside trading by banks. This whole misdeed was supervised by Pravin Gordhan who managed the money route in such a way that the money got higher returns as per the exchange rate.
The profit made out of this inside trading was used to form a new private investment bank in Sandton of which Booysen and others from Stellenbosch are the Executives thereof. That bank was launched on the same day of the opening of the FIFA world cup. The record of this fact is at the Reserve Bank.
This was reported to both Tito Mboweni & Gill Marcus and as protectors of the looting of the apartheid regime, ABSA and SARB, they chose to do nothing about it.
What can be done on the front of institutions like SARB to prevent this amount of economic loot?
First of all, the incumbent Zuma regime must place an independent inquiry on this matter and place all the facts in the public domain to expose the culprits publicly. Secondly, the SARB structure must be revised to make free from the clutches of the likes of Johann Rupert and Pravin Gordhan, who have been using them to gain illegal wealth. And last but not the least, the South African banking sector must be made more leaned towards reformist agenda rather than revenue-driven.
(Source Courtesy: Jeff Koorbanally