Geld, hoe banke geregtigheid deur geld probeer beheer ens ens

Februarie 19, 2013 in Misdaad

NewERA will be defending the rights of consumers in the Johannesburg High Court on these two dates:

1. On February the 26th we are going to argue two points regarding our interdict:

a. Investec Bank and two of their Special Purpose Vehicles (the companies who trade our loans on the stock exchanges) are demanding that we present them with everything that we allude to in our court papers. And when we say everything – we mean EVERYTHING – including all our research material, evidence, etc. This amounts to thousands of pages of information.

b. They are also asking the court to force NewERA to put down R500,000 as a security deposit for future costs. The banks can pay their advocates up to R60,000 for one day’s work (see this article here).

   Note: The above application is being brought by Blakes Maphanga Attorneys on behalf of their clients.
2. On March 19th we are going to Court to argue that our allegations in The Big Case are not “vague and embarrassing.” NewERA has presented hundreds of pages of evidence to expose three secret trade methodologies used by banks, but the banks are arguing that they simply don’t understand them. They claim our case is “vague and embarrassing.” That is why they are not responding to our allegations.

a. Firstly, banks engage in a process called fractional reserve lending where they make “loans” out of nothing. In other words, your loan is actually a simulated transaction whereby the money was created “out of thin air” by the bank. Whether you want to believe it or not, this is true.

b. Our printed banknotes are merely colourful pieces of paper whose perceived value is created synthetically by the South African Reserve Bank. Only a tiny portion of this simulated value accrues to the government and this is called “Seigniorage.”

c. Banks bundle our so-called “loans” together and then trade them on the stock exchanges and bond markets without proper or fair disclosure to the customer. The banks get their money up front when they sell your loan.

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