Corporate racism a threat to SA, Sadc


Udo W. Froese AFRIKA: The Other Side Of The Coin
South Africa’s senior government circles seem seriously worried of social and political attrition after the recent collapse of the Rand currency.

Investigative writer, Barry Sergeant documented in his book, “The Assault On The Rand – Kevin Wakeford And The Battle To Safe A Currency”, that the collapse of the Rand in 2001/2 was described then as “a financial crisis of epic proportions”.”

A senior and reliable source from within the Johannesburg Stock Exchange (JSE) points out, “The 2002 story of the collapse of the Rand currency is being repeated all over again in 2015 and 2016.”

“The very same corporate interests and Rand hedged stocks are in the process of implementing a strategy that will cause a collapse in the value of the Rand. In doing so, those treasonous collusions will boost the myopic and opportunistically narrow business interests, while the rest of the region’s citizenry witness their little wealth and disposable income erode beyond recognition,” a senior stockbroker and economic advisor explained under the condition of anonymity.

It directly affects the currencies of Namibia, Lesotho, and Swaziland.

British “Barclays Bank Africa Plc” and its South African banking subsidiary, “Amalgamated Banks of South Africa” (ABSA) under Maria Ramos, wife of former minister of finance, Trevor Manuel, and the US banker, “Goldman Sachs” under Colin Coleman, stand accused of undermining South Africa’s currency value, having contributed to the sharp fall of the Rand.

Meanwhile, banks, the Johannesburg Stock Exchange (JSE), certain ANC members, the media and academics blame president Jacob Zuma for the fall of the Rand.

The ANC Youth League countered, accusing the British Barclays Bank Africa Plc and the US Goldman Sachs of collusion to collapse South Africa’s sovereign currency.

ANC Youth League spokesperson, Mlondi Mkhize stated at a media conference, “South Africa has become a target of the anti-BRICS countries. British Barclays Bank Plc is shrewd in keeping attention from itself.”

The massive outflow of capital assisted the fall of the Rand. This is not always determined by normal trade developments, but caused by conscious decisions made by influential financiers, driven by a racist approach to the economy, also known as Afropessimism.

Young Caucasian males have an anti-Africa view in the world of finance. With the slightest ripple from Africa, they hedge against the Rand, meaning, selling the Rand.

US-Goldman Sachs and British Barclays Bank Africa Plc instigated a herd mentality against the Rand, hedging and selling the currency.

The same globalist bankers reasoned in 2001 that it was Zimbabwe’s president Robert Mugabe and his ruling party ZANU-PF’s “land grab”, which caused the Rand to fall.

Even before Zimbabwe’s land issue had taken off, the Rand was knocked. Interestingly, the ‘Rand Commission of Inquiry’ into the fall of the Rand caused the currency to bounce back from R13.85 per US$1 to R5.50 per US$1 and that before Zimbabwe’s land issue was in full swing.

In a globalist new economic world order context, South Africa’s president Jacob Zuma sacked his former minister of finance, Nene, and appointed the unknown Van Rooyen.

But, that appointment lasted only four days. Former finance minister Pravin Gordhan was reappointed as minister of finance.

This incident showed that the president listens to his senior party officials and makes the necessary changes.

It should be viewed as “democracy at work”. However, right-wing Afropessimistic elements intensified the war-of-attrition against Zuma.

This could have serious implications not only for South Africa, but also for sub-Saharan Africa. A scenario of a so-called “perfect storm” is being created. Food rights are being undermined.

The “Rand Commission” of 2002 should be reinstituted to give its former members, Gunshaw and Myburgh, the opportunity to rebuild their tarnished reputation, as they suffered much embarrassment by simply not doing their investigative work decently.

Not a single arrest was made. It is Gunshaw and Myburgh’s shoddy work that stands to be blamed for the continuation of the delinquent behaviour within the market with impunity.

South Africa desperately needs to institute market scrutiny through its regulators such as the Reserve Bank as regulator of the country’s currency; the Financial Services Board, commonly known as FSB, which works on a voluntary basis with laws that give it teeth.

Then there are the Commercial Crimes Unit and the Intelligence Unit of SARS. All of them have the powers to assist monitoring and correcting the current devaluation of the Rand.

In 2002 a righting element mobilised for a coup against the ANC-led government. They were caught in time. Many of them still serve their jail sentence for treason.

Senior economic observers and a retired general of the SANDF, who spoke under the condition of anonymity explain, “This time around, South Africans are made to suffer again from a dangerous deception.”

The Economic Freedom Fighters (EFF) are led by a “commander-in-chief”, Julius Malema, wearing red berets, military attire, masquerading as “freedom fighters”, fighting a “revolution”, mobilising against government and its structures.

“Fees must fall”, “Zuma must fall” and other such calls are advertised nationwide.

The EFF did not organise the uprisings. It arrived opportunistically when those mass marches started and recruited students and youth also outside these organisations. South Africa can’t afford lawlessness.”

The above would seem like the “preparations for a perfect storm, where ordinary people out of sheer hardship rise up against the scapegoat, the ANC. Certain forces use Zuma’s bad sentiment against him and harness the angry and poor in a drive to unleash national destabilisation. It seems that conditions would be rife for a counter-revolution.”

The above development is similar to the uprisings in Nicaragua in the early to mid 1980s.

The US-CIA had backed the Contras, trained them as counter-revolutionaries, having destroyed the real revolution.

The Contras then took over power.

One of South Africa’s leading economists explained, “At the moment the Rand has lost a third of its value within a few weeks.

“The end-result depends on what happens to the Rand. Every single citizen is affected. It is like HIV and Aids. All goods in South Africa are US Dollar denominated.

“Thirty percent of the Rand value is taken off the top of the medical aid funds, insurance funds and pension funds. Everyone’s wealth is measured in US dollars. The mentioned developments will materialise in national unrests leading to the local government elections this year in 2016. It could affect the entire continent.”

South Africa should seek help from its BRICS partners for protection against the attacks on its economy. BRICS know what is happening and they know what is going to happen.

A friend in need is a friend indeed.

 Udo W. Froese, non-institutionalised, independent political- and socio-economic analyst and published columnist in Johannesburg, South Africa,

Twitter Handle: @theotherafrika

Follow the Blog:

Share This: