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      by Published on 05-01-2013 07:24 AM

      Definitions you never knew:

      ATTORN [e-'tern] Anglo-French aturner to transfer (allegiance of a tenant to another ...
      by Published on 04-23-2013 11:33 AM

      I found this on the Ubuntu Party website here.

      How to deal with the Sheriff of The Court

      Protect your property – know your rights – stand your ground

      Every day millions of people around the world are deprived of their property when a Sheriff of the court, or a Court Bailiff, or other, arrives at their home and begins to remove or attach their property – in most cases unexpectedly and also unlawfully.


      But because our laws were not written to benefit people, but to rather uphold the rights of the corporations, the average person does not know what to say or what their rights are to prevent their property from being taken against their will.

      The business of a Sheriff is not an ordinary private business or private enterprise. While they do operate as a business, they are heavily regulated and tightly governed by statute law – this works in favour of the people if they know what to say.

      This document outlines what has come to our attention as the legal and lawful rights of all people, and what seems to be legal loophole in the system for our benefit – to pay the sheriff with a lawful PROMISSORY Note, drawn up by you and endorsed by you – when he/she arrives on your doorstep unexpectedly.

      Such situations are highly stressful and people panic and go into shock and forget their own rights or how to respond. So please pay careful attention and memorise this information – it has to come naturally to you so that you do not panic and stumble on your words when facing a sheriff.
      There is nothing to be afraid of – just having the courage to know your rights and how to stand your ground. Knowledge is power – use it for your own benefit.

      If this does not make sense to you, then you need to understand two things:
      1. You need to understand how the money and banking system works outside the scope of this document; and
      2. A Promissory Note is defined as “incorporeal property” and lawful means of payment in most countries of the world; and
      3. Accept that to a certain degree at least, this is a legal loophole that we can use to the benefit of the people against the draconian and unlawful activities of the banks and government.

      In South Africa, the settlement of a debt using ‘incorporeal property’ is, prescribed among other places, in the High Court Rules of South Africa as follows:
      Rule 45 (8) If incorporeal property, whether movable or immovable, is available forattachment, it may be attached without the necessity of a prior application to courtin the manner hereinafter provided:
      (a) Where the property or right to be attached is a lease or a bill of exchange, promissory note, bond or other security for the payment of money, the attachment shall be complete only when-

      (i) notice has been given by the sheriff to the lessor and lessee,mortgagor and mortgagee or person liable on the bill of exchange or promissory note or security as the case may be, and
      (ii) the sheriff shall have taken possession of the writing (if any) evidencing the lease, or of the bill of exchange or promissory note, bond or other security as the case may be, and

      We have it on record from a hearing in the South Gauteng High Court, in the matter between STD Bank vs Tellinger, that the banks accept payment in Bills of Exchange AND Promissory Notes. The attached promissory note is compiled from its relevant definitions in the South African Bills of Exchange Act – see attachment.

      NOTICE: This form of payment should only be used for banks – not to pay other people or small companies. They do not know what to do with such a form of payment – banks do. It is therefore our opinion that you can use a Promissory Note, drawn up by you, to pay the Sheriff because it is a payment is to the Bank. You should not use this method for the settlement of non-bank debts.

      The Sheriff has his instructions and must follow strict legal guidelines. He is not a legal expert especially on the issue of promissory notes and Bills of Exchange – therefore it is not his place to enter into an argument with you about the merits of the form of payment. You have to stand your ground on this point. If the Sheriff does not accept your payment, then he must complete a Return of Service sheet to return to the bank’s attorneys and furnish you with you a copy.

      Here is the sequence of events that the Ubuntu Party recommends. You have been conditioned to be terrified of a Sheriff or other persons of authority. Please study this and try to feel comfortable with all this information so that it is easy to remember what to do. Do not panic – do not be afraid.

      Have the following handy:
      · A piece of paper and a pen,
      · A small black book that you can purchase from any stationary store,
      · Print out the attached promissory note with your details and serial number on it – have a few ready in your home in a place that you can find easily .
      · If you are able (not critical) record or film the entire conversation with a camera, cell phone or recording device.

      Sequence of events:
      1) The Sheriff arrives and will most likely introduce himself as being “from the Sheriff’s office.” This is not good enough.
      2) Ask him/her for ID – do not let them onto the without ID that states he/she is a Sheriff of the Court. Best is to stop them at the gate or door. Copy all relevant details down onto the piece of paper. Don’t rush. Take your time and be thorough.
      3) Demand a copy of the “writ of attachment” or “execution” or “valuation” – take a good look at it and make sure it is what he says it is. Again, take your time. Look for anything out of the ordinary (incorrect dates, pages not signed, etc.)
      4) Look for the total amount written on his documents – but don’t comment or mention anything at this stage.
      5) Say the following: I am willing and able to dispense with payment immediately, please wait here while I get it.
      6) Fetch your blank Promissory Note (attached) and “black book” to write the details of the NOTE in.
      7) Ask the Sheriff for the “all total”. Say to him: “What is the ‘all total – or full and final settlement to dispose of this matter?”
      8) The “all total” is the full amount including costs; interest; fees; sheriff’s costs; attorney costs, and any other fees that may have been approved by the tax master.
      9) The sheriff will most likely make a call to the lawyers for the ‘all total.’
      10) Get the total amount from the Sheriff and fill in the Promissory Note.
      11) If sheriff asks what you are doing, say that “you are tendering payment, please be patient.”
      12) If he continues to ask what you are tendering, say: “I am settling this with a Promissory Note – it’s something like a cheque, but a Promissory Note is guaranteed because it is a liquid negotiable instrument. Kindly check High Court Rule 48 (8) (a) under “incorporeal property” for confirmation.
      13) Do not be scared to sound like a robot or if you sound funny reading it out loud. The performance of a Sheriff is robotic in itself, so do not worry about how you sound.
      14) In your “black book,” fill in the details of your Promissory Note, the same way that you would fill in a cheque stub for your records. Date – Amount – To whom – Serial number of your promissory note
      15) Then you sign below the information and hand the book to the sheriff to sign – do this rapidly “ Please just sign here” and hand him the pen. Urge him to sign.
      16) Hand him the Promissory Note only after he has signed the black book.
      17) If he signs the book, the matter is closed and he has accepted your payment. He now has to file a Return of Service stating that he received payment of ........... Rand/Dollars/etc – and he has to leave your premises.
      18) Demand a copy of the Sheriff’s Return of Service document, that clearly shows that a payment of ...xxx...rand/dollars was received from you.
      19) The bank has three days to challenge or refuse your payment by means of a special petition. If they do not petition within 3 days the matter is settled. The Sheriff cannot come back with the same summons.
      20) The bank will have to start a whole new legal action against you with a new summons.
      21) If he refuses to sign and obstructs the process, repeat to him that you are attempting to settle the full amount or the “all total” and that he is obstructing you to do so. Say: “I hereby state for the record that I am attempting to settle the all total with a lawful payment via my Promissory Note and you are obstructing me and preventing me from doing so.”
      22) Continue: “The payment is made in terms of the Bills of Exchange Act 34 of 1964 as amended by Act 56 of 2000; and it is also a settlement in full as specified in terms of High Court Rule 45(8)(a)”
      23) If sheriff continues to be difficult not understanding what you are doing and wanting to proceed with his normal routine of attachment, tell him the following.
      24) “I have tendered your full payment of ..xxx... rand/dollars and you have refused acceptance without qualification. I demand that you endorse on your Return of Service that you have refused to accept a lawful payment in the amount of ..xxx.. Rand/dollars, and rejected without qualification my payment.
      25) The sheriff is not entitled to refuse a payment because he is an agent – make him aware of it. In other words, explain to him that he is an agent operating as an intermediary and he is bound by the rules of the Court and the rules pertaining to Sheriffs.
      26) He must, as an agent, receive a lawful form of payment. Further explain him that he is not acting according to his mandate.
      27) Demand a copy of the sheriff’s Return of Service.
      28) The sheriff may NOT proceed with any attachments on your property OR even writing up any items, because:
      a) You have tendered lawful payment -AND –
      b) He has issued you with a Return of Service - OR –
      c) He has refused payment and needs to file a Return of Service to the bank that states what transpired.
      29) If the Sheriff insists on entering and attaching your property, ask him to leave or you will call the police.
      30) NOTE: Sheriff’s have been widely known to call “their own police” who are usually police acting outside their mandate, paid for by the Sheriff. Should this occur, you must call the police yourself. It is also highly recommended that you have friends on speed dial who can show up to support you and act as witnesses. You must get names and ID numbers of all police who you encounter.
      31) Remember that this is a CIVIL matter between the Bank and you – it is NOT a CRIMINAL matter – so the police may not assist the Sheriff in entering your home.
      32) The Police are there to maintain the PEACE – so if the Sheriff wants to enter your property by force, the police should protect you.
      33) The Sheriff needs to present different documents that rely on proof of a criminal offence to get assistance from the police. Stand your ground on this issue.
      34) Inform him that he has exceeded his mandate and he is now trespassing.
      35) Ask the police to arrest the Sheriff for unlawful entry and trespassing, after you have warned him, and ask them to charge him with intent to remove your property without cause.
      36) An additional charge may be: an attempt to extort money from you without legal invoice. This is the ‘all total’ that the sheriff gave you earlier, without an official invoice. Nobody can demand payment without an invoice.
      37) There may also be a possible case of fraud against the Sheriff and the lawyers and the bank, who gave him the ‘all total’. Because the total will most likely not be accurate – the common practice by the lawyers is to inflate these amounts without adding it up accurately. Put simply, if they feel you are ready to pay, the lawyers may inflate the amount, in belief that you are willing to settle. This is another reason why you should record the conversation.
      38) The sheriff may be guilty of refusing lawful payment; extorting money without an invoice and inflating the amount payable.

      See generic Promissory Note below. Please adapt it with your details – create your own sequence of serial numbers for each consecutive note; print out a few blank notes; and keep them in a safe place with easy access. This Promissory Note is suitable for South Africa and other countries where the existing money no longer states “I promise to pay the bearer”.

      We suggest that in the UK and other countries, where it still states as such, the promissory note may not need the Terms & Conditions of payment, but be a pure “promissory note”. The state will claim that their notes are underwritten by the treasury and therefore have value – which is not really true. Because the state depends on the goodwill of the people to have “trust” in the state currency, which is an empty promise to pay, since the currency is not supported by any precious metals.

      The people, on the other hand, may claim that their Promissory Notes are underwritten by the One People’s Public Trust 1776, of which every living breathing human being is automatically a beneficiary and therefore can use the TRUST to underwrite their own promissory notes. The OPPT was established on 10 September 2012, by its own Declaration and Order, lodged with UCC office in Washington, DC, under filing number 2012096074 and is a bona fide TRUST of the people of the planet.
      by Published on 04-23-2013 07:55 AM

      Michael Tellinger is currently in Cape Town for:
      1. Lunch, 1pm on Wednesday the 24th at upper crust in Marina Da Gamma
      2. Presentation on the 26th, Human Origins
      3. Workshop on the 27th, Spirituality, science and conciousness
      1. Lunch on Wednesday
      Date: 24th April
      Time: 1pm
      Cost: Free
      Venue: Upper crust in Marina Da Gamma (Eastlake Village Center)

      An informal lunch with the local Wednesday group that regularly meet in the area. Diplomats from the Republic of Good Hope will be attending and will be available to answer questions as well as to invite new members to the society.

      2. Human Origins/Consciousness Talk
      Date: 26th April
      Time: 18h30 - 10pm
      Cost: R120
      Venue: Novalis Ubuntu Institute, 39 Rosmead Ave, Wynberg (021 797-1857)
      Booking: louise@zuluplanet.com

      Covering:
      • The Lost Civilisation of Southern Africa
      • Origins of Humankind
      • AdamÕs Calendar and the Stone Circles
      • Gold Mining Empire of The Anunnaki
      • Advanced Technology of the Ancients
      • The Rise of Consciousness Today
      • Nature of Reality
      • Exposing The Corporate & Banking Fraud
      • Human Beings vs. Citizens and Legal Fictions
      • What do we do when the global economy collapses
      • UBUNTU Contributionism Š A world without money
      • Convergence of Science Š Spirituality and Consciousness

      3. Spirituality workshop, where science and consciousness cross over

      Date: Saturday 27th April
      Time: TIME: 10 am Š 3pm
      Cost: R200 per person

      The workshop will expand in much greater detail on how spirituality, science and consciousness cross over Š exposing the banking fraud Š One Peoples Public Trust Š Taking back our human rights Q&A on UBUNTU Contributionism Š What we have learned from the ancients Š transition to UBUNTU, a world of abundance for all.
      by Published on 04-09-2013 07:06 PM

      This article was published on News24

      The system is known as Corporate Fascism. And it embraces all sectors of the economy. Under this system, monopolies by privately owned Corporations are created in five important areas.

      1. Roads
      2. Electricity
      3. Water supply
      4. Food production
      5. Retail.

      Once a small group of corporations has control over these areas of society, then it does not matter which political party gets voted into power, because control of these five most important areas is no longer in the hands of the tax paying public, but is in the hands of a small group of very rich individuals. So the public not only pays taxes to the government, but pays heavily for services that were once provided by the government departments with tax payers money.

      1. Roads.

      All of our major freeways are now Toll roads and owned by private companies. Not only do we pay a fuel levy, recently raised to 28c a litre, to the government for the building and maintenance of our roads, but we also pay heavy toll fees. These toll fees are supposedly to pay for the initial building of the freeway and for on going maintenance. However over a period of time, the amount that the South African motorist is paying in toll fees results in 10% going towards the upkeep of the road and almost 90% going into the pockets of private Corporations. In effect we are not only paying a tax for roads in the form of a fuel levy, but we are also paying private individuals who are not offering a service to the South African public, but who are fleecing the South African public of their hard earned money. Not only that, but the proposed E Toll in Johannesberg is a disaster for all small business development as the cost of this E Toll will have a run on effect and they will soon go bankrupt as their profits will be eaten up by toll fees. The result is that we have the destruction of a strong middle class, which is the engine that drives any strong economy. We are......slaves to their money making racket and we are not getting any benefit for the money we are "investing" in our own country as this benefit is going towards private Corporations and individuals. Here is an example:see full article here: http://www.timeslive.co.za/local/2012/11/25/taking-their-toll-how-a-cosy-club-dominates-sa-s-toll-road-empire
      • Sanral boss Nazir Alli has signed off a series of deals that appear to benefit an "old boys'" network - specifically Tolplan boss Willie Pienaar and N3 Toll Consortium MD Neil Tolmie - while cheaper bids from new entrants are ignored;
      • Tolplan is controlled by Pienaar, who first carried out "policy studies" in 1982 that recommended tolling SA's roads. Yet, Tolplan has made a killing by doing feasibility studies on tolling those roads, adjudicating on tenders and, finally, scoring engineering work on the same roads;
      • Tolplan fired director Lennox Matshaya this month after he accused them of BEE "fronting". Though Matshaya claims Tolplan made billions from Sanral, the company won't say how much it has earned - even going to court to gag Matshaya from speaking to the press. When asked how much Sanral paid Tolplan, Alli told the Sunday Times: "It's got nothing to do with you";
      • In just three deals clinched between 2009 and 2011 - the N1 north in Limpopo, the N1 south in Gauteng and the Free State, and the N2 north in KwaZulu-Natal - road users are paying R186-million more than they should because Sanral insisted on using a subcontractor with prior business links to Pienaar, Tollink. This is despite numerous gripes that the Tollink electronic system that records toll traffic is prone to crashing and losing data;
      • The N3 from Johannesburg to Durban was awarded to the N3 Toll Consortium in 1998 only after the tender adjudicator, Tolplan, "revised" its score on one element to favour the consortium, after handwritten comments were made on the tender evaluation by Tolmie, who was Sanral manager at the time. He later quit to become CEO of the N3TC. Tender documents confirm that Schabir Shaik's company, Nkobi Holdings, was a 3% shareholder of the N3TC when it won the bid. Tolmie said there was "no basis" for alleging any wrongdoing on his part;
      • Sanral and the N3TC collected R2.2-billion in toll fees on the N3 highway in 2009 and 2010 alone, yet the consortium insists on keeping its financials secret;
      • Electronic Toll Collection (ETC), the firm majority-owned by Austrian company Kapsch, won the tender to operate the Gauteng tolls for R9.9-billion in 2008, boasting 18% black empowerment. But it is estimated that ETC will make far more, while its BEE shareholding has shrunk to 5.8% as Moss Mashishi's Matemeku has sold most of its shares to Kapsch; and
      • Motorists will pay at least R71-billion in Gauteng tolls over the next 24 years while operators like ETC will get at least R18-billion of that in fees.
      Solution: Legislation needs to be passed that all tenders for the building of roads and freeways do not extend or include private Corporate ownership of Toll gates, and that the money that the South African motorist 'Invests"in our road system every time they pay at a toll gate, goes towards the upliftment and betterment of all our transport systems and not into the pockets of private Corporations and individuals.

      2. Electricity

      South Africa used to have the one of the cheapest electricity rates in the world. This was very good for our economy and very good for small business development. In recent years Eskom has failed the country terribly. Rising costs in electricity has resulted in rising costs in all goods and services and again, has been totally detrimental for small businesses who are struggling to make enough turnover and to cover their costs. Again we see a similar result to the one we have with Toll roads. A strong middle class is reduced to the detriment of the countries economy and where only large Corporations are able to survive.


      To make matters even worse, is the proposed Nuclear Power Stations that will cost the tax payer billions. This will put the country into debt, making it a debt driven society, and the billions to be paid back by the tax payer will never be paid off, simply because the interest charged on the loan will always remain larger than the amount paid off. This is a ponzi scheme which puts the tax payer into debt in perpetuity, as well as having to pay ever rising costs for electricity. We are......slaves to their money making racket and we are not getting any benefit for the money we are "investing" in our own country


      Solution: Individually we can take ourselves off the grid and go solar. And in the next election make sure that the political party that we vote for has in their plans the establishment of a Solar power station. Germany has recently gone solar and now produces enough solar energy that they can replace 22 Nuclear Power Stations. Solar is cheaper, safer and cleaner than Nuclear or coal. This will reduce the costs to the tax payer and stimulate small business development.


      3. Water supply.

      This has not been introduced ........ yet. But you can be sure it is in the pipeline. The privatisation of the Water Department again owned by a Corporation. Again we can expect to pay increasing fees for our water and a large part of what we "invest" in our country, will not go towards the betterment of water systems, but will find it's way into the hands of private Corporations and individuals. Between the Toll roads, the rising cost in electricity and water, we are......slaves to their money making racket and we are not getting any benefit for the money we are "investing" in our own country.


      Solution: Individually we can take ourselves off the grid as the technology is there for each and everyone of us to become water independent. Atmospheric Water Generators, of the type of Ecoloblue, which runs on solar power would be the equivalent of the geyser in your home or even your fridge. Clean, fresh, unpolluted water and nobody is getting rich off your most basic need. Factories producing these water generators would contribute towards job creation and a whole new industry could be established in this country. see: http://www.ecoloblue.com/

      4. Food Production

      The patenting of seeds through genetic modification has got to be the most sinister Corporate take over of them all. Over and above the fact that tests done on mice have resulted in an increase in cancers and infertility, the patenting of any food source results in food slavery to Corporate ownership who has patented the seeds and therefore owns them. A farmer can no longer take the seeds from his produce and replant for the next season, because these seeds are "owned"by the corporation. This is particularly tragic in a situation when there is a crop failure. In the past, a crop failure was not a complete disaster, because the farmer had a stock of seeds from previous yields and could replant. With the patenting of seeds, if a farmer has a crop failure he then has to go and buy more seeds, and in many cases, as seen in India, this has resulted in complete bankruptcy for the farmer, many of whom have committed suicide. 70% of South Africa's Maize is now genetically modified. Which means that our basic food is now owned and controlled by a Corporation. GMO also includes Soya, potatoes and rice. Compounding this situation is that these Corporations have also created terminator seeds. In the past, for example, if you bought potatoes, you could seed some of them and replant. Today many potatoes on the selves are terminator potatoes and cannot be planted. They will not propagate.


      The end result that these Corporations are aiming at, is to do away with the farmers and replace them with controlled Corporate farming, which will put all food production in the hands of a small group of Corporations and individuals. They hope to achieve a situation where it will be illegal and a criminal offense for anyone to produce their own food and we are......slaves to their money making racket, making them rich and we become ever poorer.


      Solution: Support all efforts world wide to get all Genetically Modified products labelled. That way you will know which products not to buy. Support organic produce, support small farmers, stock up on seeds that are not genetically modified and where possible, go back to the old fashioned way where everyone had a vegetable patch in their garden. It is fun, you can feed yourself and you do not have to make someone else rich because of your basic need to eat.

      5. Retail.

      When I grew up there were vegetable shops, butchers, bakers, hardware stores, the corner cafe..... most of these businesses were owned by families. Then came the concept of the supermarket. And there was thriving competition, Pick n Pay, Checkers, OK Bazaars, Spa. Clothing shops went through the same process. Dress shops and Suit shops soon turned into Edgars, Truworths, etc. This was still healthy. Competition keeps prices in check and adds to variety and choice and most important, people still knew your name and said hello!


      However, take a good hard look around. As the years have gone by, these individual companies are slowly but surely being swallowed up into one big corporate giant. Wall Mart is a perfect example. You cannot see the difference between one shopping centre and the next. They are all the same and they all stock the same things. As this animal gobbles up every small business in sight, so we are being gobbled up and turned into consumer robots with very little choice and very little competition between prices and services. Just as an example as to how we really are being turned into sheep, take a look at the new check out tills. You do not even have a choice with these either. Instead you are herded like cattle to slaughter in between bars in single file, and when a number flashes up you are told which till you need to go to in order to sacrifice your hard earned money to the Corporate gods!


      Solution: Support small business where ever you can. Know that by doing so you are actually "investing "in the health and welfare of your own economy and not some Corporate Giant who is siphoning off every profit into some offshore bank account and this money will not return to the South African economy as it should do. Also buy South African products. Black Cat Peanut butter and Skip the Skippy!
      The END
      by Published on 03-25-2013 09:52 PM

      We urgently need your assistance, Anthea, a woman living in Cape Town, has been arrested 9pm SA time for failing to appear in court, due to a matter that initially revolves around not obtaining a building permit. As many of us as possible will show up at Simons Town court tomorrow morning 9 am to show our support (March 26h).

      A horde of police arrived at her property, making the Marikana Police presence look like a joke. Clearly she has hit a nerve and the status quo wish to make an example of her. This is bad for your freedoms since it would appear we have no choice but to do what we are told or take it in the proverbial.

      Seeing you tomorrow at 9am sharp at the Simons Town magistrate court would be a great show of support. In addition to this, if you come empowered with a simple document to give to the magistrate, this would be a step in the right direction. The document should state, in your own words, that you no longer have faith in the status quo and that you are their to support a woman who is brave enough to stand up for her rights as a human being. When you enter the court, give it to the bailiff to give to the magistrate.

      Anthea has asked for support and to spread the word as widely as possibly. We look forward to seeing you there.

      You can contact me on:

      phone 021 789 0694
      cell 082 579 1011
      bridgettwhyte AT gmail.com

      many thanks

      Bridgett
      by Published on 02-20-2013 05:59 PM

      I thought I would re-post this article by Michael Tellinger of the Ununtu Political party in South Africa.

      I must be honest, I am not surprised by the response from the Reserve Bank, it is no longer a secret that the banks can pretty much do as they please within the scope of their creation. Of course, the people have the right to walk away from them and their entrapment tactics.

      Banks Hide Crimes Behind Laws That Protect Them

      This is the response I received from the Legal Counsel for the Registrar of Banks, Rene van Wyk at the Reserve Bank, to an enquiry I sent on the 6th Feb 2013, requesting answers to a host of questions regarding disclosure on SECURITISATION. My original email can be seen on this page from activity on the 6th Feb 2013.

      Please share this letter on behalf of Rene van Wyk, the Registrar of Banks, with everyone.

      It constitutes a complete desecration of all our rights – especially our right to access to information on matters that have destroyed millions of peoples’ lives.

      It is absolutely clear from the response, and there can be no more doubt that the banks are protected by the law and the courts – this is how they get away with fraud and other criminal activity without any repercussions. After thousands and thousands of cases against ordinary hardworking people, the banks always seem to win – or they withdraw if they feel that they have been cornered. There is something fundamentally wrong with this equation.

      The so-called secrecy clause, Sec. 33 of the South African Reserve Bank Act, as outlined by the Registrar of Banks, protects the banks and they do not have to answer any questions or disclose any information that may incriminate them.

      It will take a special and collective effort from the people of South Africa to expose this to everyone and cause this Act to be pronounced unconstitutional by the Constitutional Court.

      Michael of the family Tellinger
      All rights reserved - Non Assumpsit





      This is a converted letter from PDF format with no changes made! To read the original PDF please Click here

      South African Reserve Bank

      Legal Services Department
      2013-01-14 Ref. 10/5/5/6

      Mr Michael Tellinger
      E-mail: contact@ubuntuparty. org.za

      Dear Mr Tellinger,
      Disclosure of Securitisation

      We refer to your e-mail letter dated 6 February 2013 addressed to Mr Rene van Wyk, Registrar of Banks.

      Before I address your enquiries in particular, permit me to comment on securitization in general.

      The concept of securitization, a process which involves the pooling and repackaging of cash-flow producing financial assets into securities for sale to investors, constitutes an internationally recognized and established structured finance process. In this country, securitization schemes are authorized and regulated by the Office for Banks in terms of regulations (currently published in Government Gazette No. 30628 dated 1 January 2008 - "Security Regulations") issued in terms of the Banks Act, 1990 (Act No. 94 of 1990). All securitization schemes, irrespective of whether they originate from a bank or non-bank, are required to comply with the Security Regulations, which, inter alia, regulate: the corporate status, ownership and control of the issuer of notes; requirements in respect of the transfer or true sale of assets from the originator to the issuer; the provision of credit enhancement and liquidity facilities and disclosure.

      The questions listed in your aforementioned letter relate to the operation of banks and the fulfillment of reporting requirements to the Registrar of Banks in terms of the Banks Act. The South African Reserve Bank is subject to the South African Reserve Bank Act, 1989 (Act 90 of 1989) ("the Act").
      Section 33 of the Act provides as follows:

      "33. Preservation of secrecy- (1) No director, officer or employee of the Bank, and no officer in the Department of Finance, shall disclose to any person, except to the Minister or the Director-General: Finance or for the purpose of the performance of his or her duties or the exercise of his or her functions or when required to do so before a court of law or under any law -

      (a) any information relating to the affairs of-
      (i) the Bank;
      (ii) a shareholder of the Bank; or
      (iii) a client of the Bank,
      acquired in the performance of his or her duties or the exercise of his or her functions; or

      (b) any other information acquired by him or her in the course of his or her participation in the activities of the Bank,
      except, in the case of information referred to in paragraph (a)(iii), with the written consent of the Minister and the Governor, after consultation with the client concerned.

      (1A) The provisions of subsection (1) shall not be construed as preventing any director, 'officer or employee of the Bank who is responsible for exercising any power or performing any function or duty under the Exchange Control Regulations, 1961, issued in terms of section 9 of the Currency and Exchanges Act, 1933 (Act No. 9 of 1933), from disclosing to the Commissioner for the South African Revenue Service any information as may be required for purposes of exercising any power or performing any function or duty in terms of any Act administered by the Commissioner.

      (2) No person shall disclose to any other person any information contained in any written communication which is in any manner marked as confidential or secret and which has been addressed by the Bank to any person or which has been addressed by any person to the Bank, except -

      (a) for the purposes of the performance of his duties or the exercise of his powers in terms of any law or when required to do so before a court of law; or

      (b) with the written consent of both the sender and the recipient of that communication."

      In light of the provisions of the aforesaid section 33 we are unable to provide you with the requested information.

      We trust that you will appreciate our position herein. You are of course entitled to follow the formal processes available to you in accordance with the Promotion of Access to Information Act should you wish to do so.

      Yours sincerely

      Dr JJ De Jager
      General Counsel
      Legal Services Department
      by Published on 02-08-2013 10:00 AM

      From the JJC:

      Get your head around this boys and girls... perhaps this will bring your mind closer to thinking of the banks as prostitutes.

      A New Zealand girl successfully auctioned her virginity for R30,000
      to pay her university fees. She did it wrong. This is how she should
      have done it:

      _When it came to "doing the deed" she should have told the guy that
      she sold her virginity to that she had already accepted money from
      nine other bidders. Legally, it was still "her first time" due to
      fractional reserve lending principles which allowed her to lend
      virginity she didn't have. However, she actually could not sleep with
      him, only "promise" to sleep with him because if she did the deed,
      this would deplete her reserve capital and thus place her in an
      insolvent position._

      _Then, she should have found 10 male models and formed a syndication
      called a "Special Purpose Position" (SPP) and slept with all nine
      models in exchange for money which the SPP paid her immediately up
      front. This is called a "true sale" agreement._

      _When the other nine original bidders came to collect on her, she
      would informed them that she had already sold herself to the third
      party syndicate, and that they were welcome to approach the nine male
      models to collect from them instead._

      Because technically "her first time" was her reserve base and her
      innocence was still intact, selling herself to the SPP freed up her
      balance sheet to fractionalise her virginity another nine times over.
      Then she sold those nine to another syndicate and this happened over
      and over again. Despite the fact that she peddled in an illegal
      activity, legally she had no problem convincing a Judge that she was
      still as pure as the driven snow, because (technically) she was still
      a virgin.

      Meanwhile, the SPP sold shares in the girls never-depleting virginity
      and traded them on the stock exchange and bond markets worldwide.
      Their biggest client was a Maori pension fund. To protect the fund, a
      local brothel insured the syndicate and promised to "pick up the
      slack" if there were any unsatisfied investors. Furthermore, just to
      make sure that scheme never unraveled, the Maori warriors would seek
      out any original bidder who did not meet their obligations, and sell
      that person's house, cars and furniture on auction. They would then
      split this "bonus loot" with the girl, the SPP and themselves.

      _Remember, the original bidders enjoyed the benefit of having the
      "promise" of the nine male models to fall back on. Legally they were
      obliged to pay up... or else the Maori's would come after them. _

      This is pretty darn close how the banking and securitisation funding
      process actually works.

      -- The JJC