in the light of the bank rate hike, the following note to the Cape Times (which remains unpublished), is still relevant: Now that JP Morgan Chase has to pay $2.6 bn to the US government and the victims of Ponzi-thief Madoff, there are a number of questions that arise: 1. JP Morgan Chase is the leading shareholder not only of Anglo American but also of the SA Reserve Bank; 2. The Journal of Southern African Studies and the Africa Progress Panel both report that the mining corporations have been stealing through mechanisms like transfer-pricing and tax evasion, for at least the past 50 years. The scale of the theft runs into trillions of Rands and this is just from South Africa; 3. JP Morgan Chase and Anglo American should be investigated for theft and possible manipulation of the currencies from SA, Namibia, Botswana, Zimbabwe, Zambia, Chile and other countries where they operate. Their millions of victims should be duly compensated. The alternative, of course, is to expropriate them, without compensation, and place them under workers control. Now that would be the way to salute the class of 2013.
Posted on: Fri, 31 Jan 2014 10:26:01 +0000