Posts tagged with 'debt'

 

#BoycottNews24 Liberal News24 Editor Adriaan Basson Capitulates To ANC / COSATU Plan To Raid Your Pensions To Pay Eskom’s Corruption & Mismanagement & Soweto’s Unpaid Bill!

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One of the reasons left wing liberals are called snowflakes is because it does not take much to make them melt and give up any reason or principle, and like a snowflake hitting the warm ground, the controversial far left wing Editor of News24, Adriaan Basson’s feelings towards “thousands of pensioners whose livelihood depends on the GEPF“, quickly melted and turned into a callous “We have run out of money and options – pensions will bail out Eskom.”  Seems for some reason Adriaan Basson now supports the plan to plunder your pensions!

Far left liberal Adriaan Basson, changed his position on pension capture in little over 2 weeks: On 10 February, just before the budget speech, Basson wrote the following in a News24 column and we quote: ” I do take issue with their opportunistic flirting with a plan that can only be to the detriment of the thousands of pensioners whose livelihood depends on the GEP
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BUSTED! Massive R568 Million PIC Plundered From Government Workers Pension For Bare Land, Was To Save Bankrupt Pension Fund For Politicians!

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ROBBING PETER (GEPF) TO SAVE PAUL (POLITICIANS) WHO WAS ROBBED TOO. Solidarity trade union has uncovered the reason why PIC approved an obviously fraudulent transaction. They called it right, watch this space. The massive R586 million overpaid by the State monopoly managing the pension fund for government workers (GEPF), the Public Investment Commissioner (PIC), has incriminated themselves and broken all ethics and codes of conduct, such a body should adhere to, when they tried to bailout the bankrupt municipal councillor’s pension fund, the majority of whose members are ANC councilors, it now seems.

The Pension Fund for municipal councillors (MCPF), whose members are politicians only, was so mismanaged and bankrupt that it was placed under curatorship a while back. The curators discovered that a property developer of Klerksdorp called Isago@N12Development owed the MCPF over R130 million. Isago agreed in a court case to pay the MCPF that money back . O
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Rothschild & Globalist Big Business Elites in SA Agree With COSATU, To Let ANC Plunder Private & Government Pension Funds, To Bail Out ANC’s Eskom Cash Cow!

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#FollowTheMoney: How much money have Banksters earned out of the plunder and ransacking of State Owned Enterprises, like Eskom, at the hands of the gangster ANC? Well, you were taught, or rather brainwashed, to think that crony capitalism and champagne socialism were at two opposite ends of the political spectrum? Four things however you can be sure both have in common, is greed, spending other people’s money, lust for power and hording all the assets and wealth into the hands of the few elites. This was proven this week when Corporate elitists in South Africa, under leadership of the Rothschild company in SA, agreed with COSATU (a powerful Trade Union which forms the triumvirate of power in SA, with the ANC & The South African Communist Party), that the ANC government can plunder pensions of ordinary people, including the Government Employee’s Pension Fund (GEPF), to bail out Eskom’s debt! Welcome to the dialectic…

In an astonishing develop
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Universities and the new SA – Barbaric actions of “previously disadvantaged groups” destroy tertiary institutions across the country free education

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The 2020 academic year has not yet begun and students are already busy. The SA Student Union has called on students to boycott all registration processes until their requirements have been met. Students’ student debt should now be written off while it has already been admitted that some students do not have to pay registration fees. Violent protests have already taken place at three tertiary institutions viz. Natal University, Potchefstroom University or North-West University and the University of SA. Northwestern University closed their campus at Mahikeng and ordered students to leave campus.

What is happening now is a continuation of violence and destruction of the properties of tertiary institutions in recent years. Students’ tireless actions have caused billions of dollars worth of damage to universities and technikons. The process is, of course, the result of the destruction of schools throughout the country.

How long tertiary institut
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Eskom with a debt burden of R450 billion may be the downfall of ANC regime

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Political analysts say the actions of high-ranking officials in Eskom could lead to the demise of the ANC government.

The pressure is mounting on the ruling ANC regime from the inner circles as well as opposing structures as well as from extreme groups to act against those responsible for the mess in which the power supplier is currently facing its debt burden of R450 billion.

The claims are varied, but many expect the ANC to take action against Public Enterprise Minister Pravin Gordhan, who is closely concerned with Eskom’s problems.

The Red Brigade is demanding Gordhan’s sacking, while Deputy President David Mabuza himself helped to throw Gordhan under the bus.

There is also a feud against Ramaphosa, from people who believe he should have forced Eskom to stay with his company in order not to employ any loadshedding before January 13.

With all the turmoil, this could eventually lead to the disintegration of the ANC, wh
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Water Shortages Arrived in Mpumalanga Towns To Stay – Sundra, Eloff and Rietkol Have Sporadic Water For A Year Now

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Water shortages have become a very real reality for the residents of the neighbouring towns of Sundra, Rietkol and Eloff in Mpumalanga. The towns have been experiencing regular periods in which the water just stops flowing, for a year now . Local resident, Derek Bester, says water supply is unequal and sporadic with lower lying parts left without water for hours per day, and higher parts left without water for weeks at a time.

Residents are surviving using various means like sharing water from drill holes, getting water from farmers in the area and collecting water from their roofs. Those who don’t have any means of getting water on their own have to go to collective water tanks irregularly filled by the local ANC controlled municipality. The neighbourhood watch is delivering water to people without transport like old people in the towns. Afriforum is distributing 5 L cans containing drinking water at no cost.

Amanda Brandow of Sundra says that
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Cash-strapped Road Accident Fund struggles to pay billions in outstanding debt – This is just another SOE that is collapsing under ANC-regime’s rule

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As thousands of road accident victims are anxiously waiting to be compensated by the cash-strapped Road Accident Fund (RAF) following court orders in their favour, the Gauteng High Court, Pretoria, is expected to soon deal with the fund’s inability to pay up.

Hundreds of claimants recently turned to the court where they had obtained an urgent order to attach eight of the RAF’s Absa bank accounts. The bank was ordered to use the proceeds from the accounts to pay the 346 injured victims.

The RAF in turn headed to court last month, in which it wanted this order lifted, as it said it simply couldn’t afford to pay these claimants, as its outstanding debt was more than R17billion. The fund said it couldn’t operate without its bank accounts as it is was struggling to stay afloat.

This application was not entertained by the urgent court, which meant that the bank accounts remained attached. But it came to light that the RAF then instruct
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ANC piggy bank is empty – ANC regime owes municipalities R165 billion

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After a thorough investigation, it was found that the treasury of South Africa’s is indeed empty for a long time. It has been discovered that the state’s owes amount municipalities approximately R165 billion.

To make matters worse, it must be taken into account that the amount is valid for up to the end of June this year.

Economic advisers, on the one hand, explain why the municipalities cannot pay their Eskom and water bills.

Opinion polls say municipalities have the full right to cut off state power at the local municipal level.

The opinion was expressed that the ANC would have to start the president by getting his own house in order and meeting his obligations and paying municipalities what they owed, as this could in turn lead to relief at Eskom.

Salga confirmed that municipalities owe Eskom about R25 billion, plus R15 billion in water consumed.

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ANC regime’s debt to SA municipalities exceeds R1bn

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Several millions of Rands debt is outstanding with municipalities across SA – ANC regime debt exceeds R1 billion

The ANC government’s poor performance, especially in the economic and financial sphere, is also highlighted in its inability to settle its debt to municipalities.

The ANC’s Minister of Public Works, De Lille, has acknowledged that the state owes more than R1 billion to municipalities.

The irony is that some of the municipalities were placed under administration while the state did not fulfill its obligations to the municipalities.

There are apparently some of the municipalities that are struggling, partly because the state’s obligations to them are not being met, which leads to unauthorized transactions with the local council.

Unconfirmed reports state that De Lille has liaised with more than 60 municipalities to determine the amounts owed, whic
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ANC regime threatens financial survival of SA, Government debt increases every day

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The ANC government is extremely dangerous and threatens the financial survival of South Africa, as its eagerness to lend remains unsaturated.

This is the opinion of an economic adviser following the SA Reserve Bank’s announcement that government debt is rising faster than provided by any institution.

The government’s total loan debt has risen to a breathtaking level of just over 58% of the annual budget.

Experts point out that South Africa has now reached the point where Moody’s can no longer turn its head, and even if that were to happen, it is an undeniable reality that the country has landed deep into the abyss of being subjected to junk status, and may not be coming out of it again soon.

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ANC regime gets billed for R100m for 35,000 election posters – The taxpayer will probably now have to shake his pockets to pay the bill?

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The ANC Treasury General, Paul Mashatile, was apparently unaware that an invoice was made for the debt to be paid.

It was apparently only when the invoice, with an amount of R102 million, was shown to him, that the sparks flew.

An investigation has now been ordered following the invoice issued for the delivery of 35,000 election posters that were apparently not approved by the party.

Mashatile was apparently unaware of the deal until the invoice was brought to his eyes, and an investigation is now underway as to who is responsible for the mess.

However, it appears that the ANC did receive and use the posters, and will thereby also be responsible for paying the bill.

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Pay back the money Zuma! – Nkandla in VBS liquidators’ vision – cough up R7m or lose Nkandla

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The ANC’s Jacob Zuma is in a big financial crisis with his multi-million Rand loan he received from bankrupt VBS Mutual Bank and now has to pay back the money.

Along with that, there are the million Rand court costs to be paid while more court cases are being filed in an effort to be cleared of the debt.

The amount of more than R7 million borrowed from VBS can be claimed any day, and then Nkandla can be compromised.

Although the Nkandla complex was but controversially erected with the largest share of the cost financed from the state coffers, it is doubted how much the real value of the property is being erected in a strange rural area.

Meanwhile, it has been reported that Zuma is also still a full year in arrears with the payment of his loan.

According to News24, VBS Mutual Bank’s liquidator, Anoosh Rooplal, has filed an application with the Pietermaritzburg High Court for an order that will force Zuma to pay, or an or
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