FOUR HORSEMEN is free from mainstream media propaganda — the film doesn’t bash bankers, criticise politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions. “It’s Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft’s crack team of talking heads — economists, whistleblowers and Noam Chomsky, all talking with candour and clarity.” – Total Film'Click here to read full article...'
Leticha Marinana, like millions of other South Africans, has lived in a debt trap after buying on credit from companies such as Foschini and Edgars. When your only income is a state Disability Grant of R1,500 per month, every rand counts. THE DEBT TRAP BEGINS… Ten years ago mentally challenged Leticha Marinana opened a credit account to buy clothes at Edgars, South Africa’s largest fashion group. Over the first three years she bought R10,497 worth of items, then never used her card again. With interest and charges she’s paid back R16,217 in monthly payments from her disability grant, but she … ‘Click here to read full article…’
If every South African adult watched this short video by Victoria Grant, a 12-year-old Canadian, they’d better understand why life is getting harder, why the middle class is shrinking and why our infrastructure is failing. It’d help you understand that the world is controlled by debt, the result of governments selling the rights of money-making to corporate interests. We all work for the banks, even the South African government. It’s a system that is failing right now.'Click here to read full article...'
Single mother and sole breadwinner Lisinda Bailey became tearful in court after Western Cape High Court Judge Siraj Desai declared the deductions which had been made from her salary were “invalid and unlawful.” The 40-year-old from Stellenbosch is one of 15 consumers who approached the University of Stellenbosch’s Legal Aid Clinic (LAC) for assistance. “I had to make monthly payments of R2,600 which was more than I can afford. As the only person working in my house, I struggled every month,” she said. “I’m so happy and grateful to everyone who helped us. I wanted to start clapping, but we … ‘Click here to read full article…’
African Bank Limited has been placed under curatorship. This is a speech by Gill Marcus, the Governor of SARB (South African Reserve Bank): Against the backdrop of African Bank’s parent company African Bank Investment Limited’s (ABIL’s) trading update on Wednesday, 6th August, 2014, the SARB, in consultation with the Minister of Finance, has decided to implement a number of support measures. These will further strengthen the resilience of the banking system as a whole, and, importantly, they will provide African Bank with the best chance of a viable future. As you are all aware, African Bank has received considerable media coverage … ‘Click here to read full article…’
A word of warning and loving suggestion to Knysna… I’ve expressed my worries about banks such as Africa Bank getting rich too quick by dishing out loans to those who should not qualify for loans. It’s the reason why i never joined the rush to Capitec. Even major banks such as FNB have introduced short term loans with interest rates akin to loan sharks. The banking industry is flailing the public. Not only does unnecessary debt make slaves of the poor forever, it pushes South Africa towards the edge of a cliff. Our country didn’t learn the lesson from the … ‘Click here to read full article…’
The average person in my home town of Knysna cannot comprehend the money system. It has been so drummed into their consciousness that a good citizen saves money in a bank who in turn charges them interest for keeping it…even though the banks are using their money to make more money which is not fairly shared with them. How can a bank loan your money it does not have? How did so many pensions take a tumble even though the people holding the pensions made a profit? Want a good credit rating? Well, borrow money because debt is the easiest … ‘Click here to read full article…’