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Tugadar (@admin)
22 days ago
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In the picture is Queen Elizabeth at the Bank of England with a chunk of South Africa's Gold Reserves estimated around $248 billion. Now England does not produce any Gold yet it operates the second largest Gold Vault in the World with the likes of JP Morgan, HSBC and two other Banks who have control over the trade of Gold in the entire world, a cartel which is part of the so called "Non Profit Organisation" Precious Metal Clearing Limited (LPMCL). Despite the fact that the total amount of Gold held at the Bank of England is worth over a Trillion, South Africa's Gold stored at the vault is only worth around R75 Billion and controlled by JP Morgan which manages South Africa offshore reserves and also offers vaulting facilities. A resource impoverished country like Britain controls and stores the mineral wealth of Africa without her permission or benefit, but with the concession of independent bodies like the South African Reserve Bank. In 2016 Pravin Gordhan confessed and also indicated that only “a smaller amount” of South Africa’s Gold was held in South Africa citing that offshore management of Gold by JP Morgan made it easy for the Reserve Bank to manage other transactions outside of gold. Now JP Morgan is one of the most corrupt Banks in the World, soo corrupt that it was held responsible for the 2008 Wall Street Crisis that saw ordinary working class Americans lose their jobs and homes as a result of a greed and opportunism of bankers. Beyond the 2008 Financial crisis JP Morgan has been fined Billions for some of the following crimes; 1. £26m over interest rate cartel 2.$264 million in fines for bribing foreign officials which was a violation against the Foreign Corrupt Practices Act (FCPA). 3. $4.6 million by the Consumer Financial Protection Bureau for failures related to information it provides for checking account screening reports 4.$360 million for manipulating key interest rate 5. 485.5 million euros ($521 million) for rigging the Euribor benchmark with HSBC Holdings Plc and Credit Agricole SA. The trio colluded to rig the Euribor rate and exchanged sensitive information to suit their trading positions in correlated derivatives markets. 6. Ordered by a Dallas jury to pay more than $4 billion in damages for mishandling the estate of a former American Airlines executive 7. R92 billion on price-rigging in currency markets which in the context of South Africa saw the seriel manipulation of the rand and price-rigging which included Banks like Investec, , Standard New York Securities Inc, Macquarie Bank , Bank of America Merrill Lynch, ANZ Banking Group Ltd, Standard Chartered Plc and Barclays Africa. The relationship between the South African Reserve Bank(SARB) and JP Morgan dates as far back as 1921 with a history firmly entrenched in Mining as it was JP Morgan which was responsible for the formation and funding of Anglo American in 1917, when in collaboration with Britain they financed Sir Ernest Oppenheimer with around £1 million to capture the Gold Market in Southern Africa. JP Morgan not only financed British imperialism and Mining in South Africa they also financed the Anglo Boer War, The English in particular. The scramble for South Africa's resources should also be understood in context to the discovery of gold and diamonds in 1867 and 1886 respectively as well as the Berlin Conference of 1884 which finally gave dominion to Britain to politically and economically control South Africa..