UNITED DEMOCRATIC MOVEMENT (UDM)

 

The initial plan by the EAG was to create the UDM as a power base against the ANC. As explained by the author in Chapter One, the plan was to create a political movement with former prominent ANC officials in it to draw the voters away. The plan did not work because HOLIMISA was not willing to co-operate and alternatives where created. To illustrate to the reader that they did try to use the UDM for this purpose, the author would like to say that in Annexure 3 it was mentioned that an EAG meeting (Lyttelton) took place that was also attended by Bantu HOLOMISA. Obviously Bantu HOLIMISA wasn't falling for this plan and soon afterwards, Roelf MEYER left the party.

 

The author would also like to bring to the attention of the reader that MEYER, on the television program People of the South by Dali THAMBO, told listeners, in reply to a question from THAMBO of his relationship with Cyril RAMAPHOSA. He told of the time he spent in the townships and that one person in the townships told MEYER that he was Cyril's friend. MEYER’s reply to this was that he did not want to tell the listeners what his reply was, but it was in the line of a new political movement.

 

DEMOCRATIC PARTY (DP)

 

The author was not involved in any possible investigations pertaining to the DP.

 

DEMOCRATIC ALLIANCE (DA)

 

Although there is no evidence of direct Intelligence activity in the Democratic Alliance (DA), the party does have people in the top structure that where contaminated like Marthinus VAN SCHALKWYK.

 

 

CHAPTER THREE: THE ECONOMIC PLAN

The most important aspect of the economic side of the plan for the EAG was to create a way of getting into the inner circles of the International Bank Debenture trading. The plans consist of various phases, starting with stockpiling huge quantities of gold and platinum (See Chapter Five). The amount of gold and platinum that was taken out of the country illegally is about two thousand metric tons of gold and two thousand metric tons of platinum. With this much bullion in foreign banks, it didn't take too much convincing for the different central banks and top 100 banks to allow the owners of this bullion into the inner circle. The bullion was used as collateral in high yield programs also known as Capital Enhancement Programs and/or Rolling Programs (See International Bank Debenture trading). The total amount generated was sixteen trillion US dollars according to a former agent of Directorate of Covert Information.

 

All the major first world countries’ governments were actively involved in the high yield programs, including Allan GREENSPAN of the Federal Reserve, according to TOERIEN, who personally liased with GREENSPAN. TOERIEN was assisted by one of Switzerland’s top spies Jurg JACOMED. Other central banks that were involved were the Bank of England, the Bundesbank, Royal Bank of Canada. Other major banks that were involved include Bank of Tokyo, Deutsche Bank, Bank Pariba, Union Bank of Switzerland, Credit Swiss, Natwest and City Bank.

 

Before the plan is discussed it is necessary to understand International Bank Debenture trading.

 

THE INTERNATIONAL BANK DEBENTURE TRADING

INTRODUCTION

The following section has been prepared by the co-ordinator of SUNROCK, the source is a former MI operative. All the available information is largely a hypothesis of which, the basis is strong. The following is then his view of the MI source on the CAPITAL ENHANCEMENT PROGRAMME (CEP):

 

“BASIC HISTORY OF SPECIFIC TYPES OF CREDIT INSTRUMENTS

 

The issuance of bank (credit) instruments dates back to the early days of "banking" when private wealthy individuals used their capital to support various trade-orientated ventures. Promissory Notes, Bills of Exchange, Bankers' Acceptances and Letters of Credit have all been a part of daily "banking" business for many years.

 

There are three types of Letters of Credit that are issued on a daily basis. These are Documentary Letters of Credit, Standby Letters of Credit and Unconditional Letters of Credit or Surety Guarantees.

 

The issuance of a "Letter of Credit" usually takes place when a bank customer (Buyer) wishes to buy or acquire goods or services from a third party (Seller). The Buyer will cause his bank to issue a Letter of Credit that "guarantees" payment to the Seller via the Seller's bank, conditional against certain documentary requirements. In other words, when the Seller via his bank represents certain documents to the Buyer's bank the payment will be made. These documentary requirements vary from transaction to transaction; however, the normal documents will usually comprise of:

 

                          -Invoice from Seller (usually in triplicate)

                          -Bill of Landing (from Shipper)

                          -Certificate of Origin (from the Seller)

                          -Insurance documentation (to cover goods in transit)

                          -Export Certificate (if goods are for export)

                          -Transfer of ownership (from the Seller)

 

These documents effectively "guarantee" that the goods were "sold" and are "en route" to the Buyer. The Buyer is secure in the knowledge that he has "bought" the items or services and the Seller is secure in the fact that the Letter of Credit, which was delivered to him prior to the loading release of the goods, will "guarantee" payment if he complies with the terms as stated in the Letter of Credit.

 

This type of transaction takes place every day throughout the world, in every jurisdiction and without any fear that the issuing bank would not "honour" its obligation, providing that the bank is of an acceptable stature.

 

The Letter of Credit is issued in a manner that is recognised by the Bank for International Settlements (B.I.S.) and the International Chamber of Commerce (I.C.C.), and is subject to the uniform rules of collection for documentary credits (ICC400, 1983).

 

This type of instrument is normally called a Documentary Letter of Credit ("DLC") and is always trade or transaction-related, with an underlying sale of goods or services between the applicant (Buyer) and the beneficiary (Seller).

 

During the evolution of the trade-related Letters of Credit, a number of institutions began to issue Standby Letters of Credit ("SLC"). These credit instruments were effectively a surety or guarantee that if the applicant (Buyer) failed to pay or perform under the terms of a transaction, the bank would take over the liability and pay the beneficiary (Seller).

 

In the United States banks are prohibited by regulation from providing formal guarantees and instead offer these instruments as a functional equivalent of a guarantee.

A conventional Standby Letter of Credit (CSLC) is an irrevocable obligation in the form of a Letter of Credit issued by a bank on behalf of its customer. If the bank's customer is unable to meet the terms and conditions of its contractual agreement with a third party, the issuing bank is obligated to pay the third party (as stipulated in the terms of the CSLC) on behalf of its customer. A CSLC can be primary (direct draw on the Bank) or secondary (available in the event of default by the customer to pay the underlying obligation). [Extracts can be found in "recent innovations in International Banking" - April 1986 prepared by a study group established by the Central Banks of the Group of Ten Countries and published by the Bank for International Settlements.]

 

As these Standby Letters of Credit were effectively contingent liabilities based upon the potential formal default of the applicant, they are held as "off balance" sheets in respect to the bank's accounting principles.

 

This type of Letter of Credit is commonly referred to in the market place as a "3039" format. This number is not found as a specific ICC400 (1983) reference and is purported to be a federal court docket reference number, which is related to a lawsuit involving such instrument.

 

During the period when SLC's were being evolved and used, the banks, and their customers began to see the profitable situation created by the "off balance sheet" positioning of the instruments. In real terms the holding of the Standby Letter of Credit was attributed to a "contingent" liability and, as such, was held off the balance sheet, therefore in an unregulated area.

 

Due to constraints being imposed on the banks by regulatory bodies and government control, the use of these "off balance sheet" items as financial tools to effectively adjust the capital asset ratios of the banks, was seen to be a prudent and profitable method of staying within the regulations and yet to achieve the needed capital position.

 

At request of Central Bank Governor's of the Group of Ten countries, a Study Group was established in early 1985 to examine recent innovations in, or affecting, the conduct of international banking.

 

The Study Group carried out extensive discussions with international commercial and investment banks that are most active in the market for the main new financial instruments. The purposes were both to improve central-bank knowledge of those instruments and their markets as the situation existed in the second half of 1985, and to provide a foundation for considering their implications for the stability and functioning of international financial institutions and markets, for monetary policy, and for bank's financial reporting and statistical reporting of international financial developments. Alongside this work the Basle Supervisor's Committee has undertaken a study of the report of the prudential aspects of banking innovations and a report on the management of bank's off-balance-sheet exposures and their supervisory implications was published by that Committee in March 1986.

 

The growth of these instruments has been enhanced by two influences.

 

Firstly, bankers have been attracted to off-balance-sheet business because of constraints imposed on their balance sheets, notably regulatory pressure to improve capital rations, and because they offer a way to improve the rate of return earned on assets.

 

Secondly, for similar reasons, banks have sought ways to hedge interest rate risk without inflating balance sheets, as would occur with the use of the inter-bank market. [Extracts can be found in "Recent innovations in International Banking" April 1986 prepared by a study group established by the Central Banks of the Group of Ten Countries and published by the Bank for International Settlements.]

⇐ Предыдущая12345678910Следующая ⇒

Поделиться: