SARB

Key Points	Details
Historical Context	Union of South Africa was first victim after WWI to establish a central bank
Key Figures	General Smuts (Prime Minister), Henry Strakosch (Moravian Jew, financial advisor)
Parliamentary Debate	1920 Banking and Currency Bill faced strong opposition, especially from Labour Party
Opposition Arguments	Labour Party advocated for State Bank instead of private central bank
Final Outcome	Bill passed 69-22, establishing SARB under Bank of England influence

Key Points	Details
House of Assembly	1944 renewal debate for SARB's 25-year charter
Opposition Voices	National Party and Labour Party proposed state banking alternatives
Senate Debate	Led by Senator Sidney Smith (Labour), advocating fiduciary money creation
Key Proposals	Government should create money debt-free, following Lincoln's principles
International Examples	New Zealand's successful state banking system highlighted

Key Points	Details
Author's Election	Became non-executive director in 2003 with 71.1% shareholder support
Board Dynamics	Tension between governors Tito Mboweni and Gill Marcus
Marcus Controversy	Attempted coup against Mboweni, dismissed in 2004, returned as governor 2009
Operational Issues	Problems at SA Bank Note Company, including corruption and quality failures
Suspension	Author suspended in 2012 for questioning bank operations

Key Points	Details
Media Attack	2012 Mail & Guardian article labeling author "Holocaust denier"
Author's Position	Claims skepticism rather than denial, questions official narrative
Historical Arguments	Presents alternative interpretations of WWII events
International Context	Discusses legal restrictions on Holocaust questioning in 17 countries
Resignation	Forced resignation following controversy

Key Points	Details
Governance Issues	Questions about "fit and proper" directors
Historical Scandals	1970s-1990s corruption, including Project Hammer gold theft
Current Problems	Losses under Marcus (R7.2 billion), JP Morgan custody risks
Systemic Failures	Inflation, unemployment, inability to achieve stated objectives
Independence Myth	Questions SARB's claimed independence from private banking interests

Key Points	Details
Constitutional Reform	Proposes repealing Sections 223-225, implementing Monetary Reform Act
Monetary Trusteeship	Parliament-appointed body to oversee money creation
Full Reserve Banking	100% reserve requirements for all banks
Debt-Free Money	Government creates money without interest or debt
Expected Benefits	Zero inflation, full employment, elimination of income tax, housing at zero interest