CHAMSA Economics for Prosperity Conference 2005

 

- a dismal failure

 

1^st World economist mindsets misleading SA and the world

(Sandton Convention Centre, Johannesburg, RSA – Nov 30/Dec 1 2005)

 

 

Putting the Conference into perspective

A top & representative body of global economists have failed the globally sanctioned commission to address poverty

- 1^st World economists passively stroking each other.

- Not one step forward taken to address the causal problems of the poverty symptom.

- Constructive Intellectual debate purposefully blocked

- Destructive 1^st World models/methods/practices entrenched - maintains global financial slavery

There is a warped mindset towards a magical 1^st World orientated growth rate of 6% that will be the salvation of SA – the current growth has no real substance and entirely ignores the 3^rd World component.

Was this conference staged, and under 1^st World pressures, simply to create a false impression of addressing the poverty symptom?????

_____________________________

Sincere thanks to CHAMSA, and especially it’s Chief Economist George Djolov, for the invitation – but it was understood that freedom of expression would not be curtailed.

The failure of the conference can be encapsulated by the response from the panel (high powered economists) to a valid request from a disadvantaged black person.

The request (to the effect) - “We need you to solve the problems that are causing us our difficulties”

The response after a flustering hesitation – “You must solve it yourself”. !!!!!????????!!!!

The mind boggles!!!

A two-day conference with some of the world’s foremost thinkers & practitioners on economics/finance produced virtually no media coverage.

The only reports that had prominence were concerning Ministers Pahad & Irwin.

What then was this conference about?

Was it simply a political tool to give credibility (false) to government’s failure to address the 3rd World component in SA?

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CONTENTS:

Overview of fundamental issues causal of the poverty symptom:

- engineering/commercial worlds

- defective economy vehicle/system

- poverty

- identify, understand, solve, implement

- begging bowl

- wrongly extrapolating micro success stories to macro solutions

- Open Global Economy

- Unfair Rules

Perspective on CHAMSA EfP Conference – a dismal failure

Professor Brian Kantor:

- duplicity - one foot in UCT (based on truth), one foot in Investec (based on lies, deception, fraud)

- falsifying research

- defective & destructive recommendations

- objection

- double agent

The “Unknown Pensioner” should be honoured

Will Minister Pahad honour his promise – to reverse Manuel & Irwin’s oppressive economic isolation.

DPE Minister Irwin

- glosses the public enterprises debacle

- calls for engineers to return to SA. BEWARE!!!; BEWARE!!!; BEWARE!!!

FinMin Trevor Manuel and the PIC – information comes to light

Conclusion:

- the Global Fight on causes of poverty now hangs on SA Deputy President’s promises – will she honour her promises and reverse the moral & corrupt decay within government & executive?

_____________________________

To gain understanding as to why the EfP Conference, holistically, was a dismal failure we need to revisit some fundamental issues.

(Note: there was purposeful obstruction by government employee that entirely disrupted intellectual debate at the Conference)

Overview of fundamental issues causal of the poverty symptom:

- engineering/commercial worlds

There is a gap between the “engineering” world and the “commercial” world. The gap in reality is a massive cultural, intellectual, social chasm – simply walk into an engineering/R&D facility and compare to the environment & culture of a commercial office to observe this.

It is relatively easy for an engineer experienced in systems & controls to move into the commercial world, but it is extremely difficult for a commercialist to move into the engineering world; hence a gap - a massive chasm.

Would you take your vehicle to a workshop knowing that an economist is going to strip your engine?

Why then are economists let loose to work on & design the economy “vehicle”?

An engineers “intuitive feel” of systems comes from experience not qualifications, or theoretical debate.

Intuitive understanding of systems is similar to the intuitive knowledge that an apple in a tree will fall to the ground – a systems engineer knows when things are not right. Similarly a Business Engineer will know that economists’ policies are not right.

1 Business person plus 1 Engineer (systems & controls) DOES NOT EQUAL 2 Business Engineers, not even 1.

(Similarly: 1 Economist plus 1 Engineer does not equal 2 Economy Engineers)

- defective economy vehicle/system

There is not one sound economy – this is intuitive because they all crash cyclically with many businesses, jobs, & homes destroyed – it is because economists are not trained to develop systems & controls.

Economists observe data out of a defective economy system; they analyse it and determine input signals for the next cycle which they input into the defective system. Therefore Garbage In, into a defective system producing Garbage Out, to be fed back as new inputs into the defective system.

Not a sensible approach!

- poverty

Professor Jeffrey Sachs, economic adviser to UN’s Sec Gen Kofi Anan, has done valuable work to put poverty into global focus & attention, as have other leading economists.

But, the reality is that he & others have incorrectly analysed the data and have put the world onto an incorrect course that is destructive to both 1^st & 3^rd Worlds.

It will not solve the problems that cause poverty.

Poverty is a symptom; it is the result of Unfair Rules that cause Disparities, which Disparities in the extreme cause Loss of Values, which Loss of Values progressively and to the extreme emanate as Poverty.

Poverty is therefore a symptom. We need to identify the causal problems (collectively: Unfair Rules) that cause Disparities.

(See also Historical Archives (lhs): Poverty Disparity, Unfair Rules – need to rethink)

(It is also pointed out that JS does not enter into intellectual debate regarding the incorrect analyses he has presented in his book “The End of Poverty” – this does not give confidence into believing that 1st Worlds or economists are sincere in addressing the poverty symptom.)

- identify, understand, solve, implement

The process for addressing the poverty symptom is the same as for any symptom:

- identify the causal problems

- create understanding of the causal problems

- develop solutions

- implement solutions

As each stage is progressed further understanding causes a reiteration process to flow

- begging bowl

Jeffrey Sachs has focussed on a Begging Bowl approach – this exactly counters the instilling of values that are needed to lift people out of poverty.

We need a positive approach by identifying causal problems, solving & implementing them and in so doing generating efficiency increases; from greater efficiency savings will flow; from these savings a reward (share of savings) can flow into development funds – a WIN/WIN.

- wrongly extrapolating micro success stories to macro solutions

A number of initiatives to eliminate poverty have been undertaken on a micro scale; it has been argued that by applying them on the macro scale that similar successes will be achieved.

It is important to recognise that these claimed “success” stories have produced dubious results. Further, even if they were success stories on the micro level it does not follow that they will be successful at the macro level. This is intuitive; saturation occurs long before.

Initiatives & concepts such as

- export led growth

- round-tripping of funds through tax havens (outright scams!)

- open global economy

are, without correct protections on both sides, doomed to fail.

- Open Global Economy

This catch phrase has become popularly coined and emanates from 1^st Worlds in an attempt to globalise impoverished regions. The reality is that with unfair rules imposed by 1^st World upon 3^rd Worlds that the unfair rules maintains slavery.

Just as one has speed limits on roads as a PROTECTION, so too do economies need PROTECTION – an Open Global Economy (without protections) is a destructive concept.

(Note: differentiate between protections & barriers; a protection is a barrier; but a barrier is not necessarily a protection, historically they have been an obstruction)

- Unfair Rules

CDADD has identified and created understanding of some of the many Unfair Rules, and developed outline solutions. But, many other causal problems exist.

Some that have been identified are:

• Interest Rate as an economy control – we need to move from the current destructive unitary model to the stabilising new multi-component model. (see Interest Rates & Loans 1-4)

• Speculative demand on currency/bond/equity trading is highly destructive – we need to move to protections that ensure a constructive Derived demand (see SA Bonds – churning & siphoning)

• FinServInd – financial irregularities are causing the siphoning & churning of investor funds – which disappear from SA causing the need for FDI, and a consequent deficit.

• No Import protections for local industry – it is highly destructive to allow cheap labour imports that take local jobs away

• Export led growth, with reliance on 1^st World countries – a few dubious success stories cannot be extrapolated to macro solutions, they break down very quickly through saturation.

• Economic Momentum - a reduction in money supply produces a squared (or greater?) reduction in economic momentum. (see Economic Momentum). Also note that Money and Money Supply is not as yet properly understood.

• Foreign Direct Investment – must be allowed only for constructive growth not for destructive speculative trading.

There are many other unfair rules that have not been identified as yet, it is important that they are found.

Perspective on CHAMSA EfP Conference – a dismal failure

Against this background the EfP conference is simply reinforcing existing 1^st World models/methods/practices which are entirely destructive within 1^st Worlds and catastrophically so for SA and other 3^rd Worlds.

The conference was intensively One-Way communication and from a narrow economist perspective; admittedly there were Q&A sessions but any attempt at intellectual interaction was purposefully disrupted.

The mediator, effectively a government employee, disrupted the writer when presenting intellectual debate. It is clear that this deterred others.

A request had been made to CHAMSA’s Chief Economist, George Djolov, for 15 minutes to clearly present some critical points. A promise was given but intellectual debate was disrupted after a couple of minutes. Later, a further three promises were given (and supported by Minister Pahad's Exec Assistant), but none of the promises were honoured.

Not one of the many leading economist presenters raised objection to the curtailing of intellectual debate.

Was this conference staged and under 1^st World pressures simply to create a false impression of addressing the poverty symptom?????

Not one positive step forward was taken by the presenters (economists mainly) to address the causal problems of the poverty symptom.

In fact extremely dangerous & destructive arguments were put forward that exacerbates disparities.

Corporate Governance was raised a number of times but this is an empty concept as Mervyn King, the King of Corporate Governance, has demonstrated. (see Fraudulent AA Kyalami Racetrack Sale – of which Mervyn King is chairman)

It is unfortunate but true to say that the presenters collectively stroked each other’s 1^st World mindsets.

The writer, who was very forceful in attempting to engage intellectual debate, incurred the contempt of, in the main, the whitey component present.

It was encouraging however to be approached by many black people who made comments such as “great”, I honour you”, “what you say is right”. This division was reinforced at the gala dinner by both; positive comments from very positive young & older black people; and increasingly divisive platitudes from the elitist whites & blacks.

There is a very strong sense of betrayal (? – this is a personal interpretation) amongst the bulk of black people, even those that are clearly doing well in business.

It is unfortunate however that black people, individually, have not come out of their reserved shell to actually stand up and legitimately confront – had they done so then substance would have flowed at the Conference.

The failure to engage intellectual debate, and the response for 3^rd World’s to solve their own problems, confirms the sad reality that the 3^rd World are unlikely to get meaningful support, and if any is forthcoming that it will lack any substance.

But, to really understand some reasons why poverty is maintained ……..

Professor Brian Kantor:

- duplicity - one foot in UCT (based on truth), one foot in Investec (based on lies, deception, fraud)

From his presentation slides BK presented both as a UCT Professor as well as an Investment Strategist for Investec Bank.

Investec Bank has been involved in the many & varied fraudulent investment scams that CDADD has exposed over the past 25 years. The current earthquake in the FinServInd regarding pension losses stems directly from CDADD’s research.

By presenting as both a Professor and Investec employee BK has put himself into a freely chosen conflict situation.

With one foot in UCT, BK is supposed to be an academic whose primary objective is to seek the truth.

With the other foot in Investec, BK is exactly opposing the seeking of truth by engaging with lies, deception, and fraud.

- falsifying research

BK’s presentation partly, but with emphasis, dealt with Foreign Direct Investment and the need to encourage it, and especially not to worry about, but to enjoy the circumstances of, a high Current Account Deficit.

BK entirely failed, falsified, to mention the massive losses from investors pensions and from other forms of investments – the pension losses as proven by CDADD, and adjudicated by an ex-Reserve Bank governor & 2 others, shows that a minimum of 27% (up to 42%) of annuity income is lost. On a current R1 Trillion Rand pension industry value that means at least R270 Billion has disappeared. (You can guestimate the historical, cumulative losses) This is just part of the losses that could be as high, or higher, than 40%.

These losses represent a substantial amount of capital which directly impacts upon investment needs – by purposefully ignoring this large component BK effectively falsified his professorial research & presentation.

When BK was confronted for his failure to address this massive loss, and by implication his failure to understand the investment market, BK blustered and evaded the issue.

When pressed further that one need only phone a broker for a Bond quote and an institution for an annuity quote to prove the losses BK argued that it was simply a “competitive market” issue.

This makes no sense! On what basis would a UCT Professor, any Professor, in seeking the truth, recommend to the nation that by increasing debt that SA would increase economic activity, whilst totally ignoring the advantage achieved through advising the nation that by simply moving their investments from institutions (including Investec) that they would achieve greater savings & pension income, and at the same time increase economic activity, and without increasing the Current Account Deficit.

It took 6 months of privately funded research to investigate & uncover the fraudulent institutional scams pertaining to pensions that Donald Gordon had masterminded. (see Historical Archives: Mastermind of Organised Crime)

BK has 40 years of fully paid research, and the bulk at professorial level, yet had not exposed these massive scams.

Many people within Investec have been aware of CDADD’s research for over 2 years.

BK freely chooses to work for an institution for a fat salary and to present false research that is purposefully misleading SA and the world..

Universities receive significant sums from financial institutions. Donald Gordon founder of Liberty Life has institutions such as Donald Gordon Medical Foundation, Gordon Institute of Business, named after him – this because he has pumped considerable funds into them – consequently he is honoured.

BUT, these funds were stolen from pensioners & investors!!!!

CONSIDER: - 27% and up to 42% of additional pension income is what pensioners have lost.

- An average of 60% of staff cost-to-company account for a company’s Gross Profit.

- 15% of this 60% staff cost-to-company = 9% of Gross Profit goes to pension funding.

BUT, 27% up to 42% is never paid out, assume an average of 33& 1/3%.

- 33 & 1/3% of 9% = 3% of Gross Profit.

If a company has a nett profit after interest & tax & all other extraneous items of 5%, then the 3% siphoned off accounts for an additional 60% of nett profit. If nett profit is 2.5% then the pension money fraudulently siphoned off gives an additional 120% nett profit.

It wasn’t FinServInd institutions that benefited solely from this, these fraudulently siphoned funds were split with Corporations that run Group Schemes – this is why the writer, in approaching over 50 major corporates, had the door closed and was told to f***-off, literally.

It becomes clear that this explains the immense growth rate of companies.

Raymond Ackerman (Pick ‘n Pay Chairman/Founder and buddy of Donald Gordon – (read Gordon’s biography “Larger than Life”) - also set up a separate scam to siphon his employees pension funds.

In University of Cape Town’s UCT News – just received in the post – on Page 6, Ackerman is once again honoured because of a Compact.

It becomes clear that BK, as a professor morally contracted to seek the truth, has freely chosen to dishonestly cover up these massive losses which if they had been exposed would have significantly reduced, if not eradicated, SA’s dependence upon FDI.

Conflict of interest between truth & lies sweetened by the monetary rewards that lies bring from financial institutions swayed Professor Brian Kantor to prostitute himself.

- defective & destructive recommendations

BK’s recommendations ignored the pressing need for constructive local economy protections and promoted a dangerous & destructive Global Open Economy (without protections) approach.

He argued incorrectly that we could not control SA’s Bond market with its average daily speculative (& destructive) trade at R13B.

BK stated to the effect that the exchange rate and interest rates were pressurised by the high level of inflows & outflows and that this is what determined how economies should analyse and determine internal policies.

These recommendations by BK are entirely incorrect, they are destructive – appropriate & constructive protections would minimise the destructive nature of speculative trading (speculative demand) which would then allow constructive growth (derived demand) to become visible. Global trading with protections in place would then stabilise currencies, and interest rates would be further stabilised through a multi-component control model.

BK further argued that we should encourage greater Current Account Deficit through FDI – this also makes no sense because Minister Irwin stated to all, including BK, that there was a serious shortage of engineers. It is known, as BK ought to know, that skills shortages are chronic. How then can he justify a call for more FDI when there are insufficient skills to manage it.

The truth is that BK cannot justify it – the truth is that his call for more FDI has nothing to do with constructive growth (derived demand) but solely with destructive speculative demand. This further call for speculative FDI is simply to increase the volume of the institutional siphoning & churning of other people’s funds from elsewhere in the world. It is simply another institutional fraud scam deceptively endorsed under a UCT wrapper.

The current pop target of 6% Growth is also misleading SA. The focus & measures are purely toward the 1^st World economy; experience has shown that little benefit actually filters through to the 3^rd World economy in SA, and what does filter is very slow in reaching the intended beneficiaries. Growth as a target is also an incorrect objective; the correct approach is to address the unfair rules; observe the acceleration when the handbrake is released and the fuel blockages from the internal Money Supply are cleared. SA will become an economic destination because of its efficiencies.

The government’s task team does not have the appropriate skills to deal with these critical issues which are intuitive to someone who has pioneered Business/Economy Engineering.

BK also intimated that China’s fixed exchange rate exactly hindered their internal growth prospects – again this is entirely wrong. A decision to trade is certainly affected by the exchange rate but a stable one gives far more security than an unpredictable one. Regardless of the absolute exchange rate trading decisions will be based upon many other factors.

BK’s premise is based upon the fallacious concept that open & destructive speculative trading constructively determines the interest rates & exchange rates – this is outright nonsense.

Oppressive political system’s, unstable economies, are what deter trading not stable economy components.

This is intuitive – China is trading extensively WITH a fixed exchange rate. Its political base has changed thus encouraging trading. It’s start position a few years back was, economically, almost zero – so any improvement is a plus factor. The fixed exchange rate is effectively a Protection barrier, but admittedly China will need to shift to identifying its specific protection needs as opposed to continuing the use of one key entry protection barrier.

If China were to allow a mindless “open global economy” approach it would import financial slavery to replace its unwinding political slavery which is blocking 3^rd World reforms (if they were to be given attention to).

South Africa is very much under the rule of financial slavery – Absa/Barclays deal demonstrates this clearly and with high finance buying a High Court judge to achieve it.

A further point to note is that Money and Money Supply are not correctly understood under a closed economy let alone an open global economy, with or without protections. This is intuitive – if these economy components, and other key components, were understood correctly then they would be properly controlled and economies would be stable - but they are not stable - because they are not correctly understood.

These destructive recommendations exactly create the defective policies (unfair rules) that cause disparities leading to poverty.

BK’s destructive recommendations create defective policies not unlike those of Versailles that allowed Nazism to breed.

- double agent

The facts alone prove that BK is a double-agent – in absolute freedom he chose to betray trust, locally and globally, and purely for financial greed, and falsely entitled honour.

- objection

It is objectionable that a person is allowed to continue with the title of Professor once that person has vacated a professorial chair – it is blatant deception to continue with the title.

- transparency compels the following:

This is not the first entanglement the writer has had with BK. His first introduction to economics was through BK at UCT’s Graduate School of Business, 1983 MBA programme. It was intuitive that a number of BK’s views did not make sense and BK was taken to task during lectures. BK was on occasions angry for being challenged.

BK failed him on the Economics course (which ultimately caused a maximum drop-out loss because of double flu in the second term) by a percent or two – it was stated in confidence by other GSB faculty staff that they were opposed to the “fail” mark, but politics prevailed.

Take it as you wish – but it is categorically stated that his confrontation with BK at the Conference was not driven by historicals but by sincere drive to expose duplicity that is steering mindsets wrongly & dangerously toward entirely defective economic policies and SA onto a destructive path.

BUT, Professor Brian Kantor who covered up these fraudulent scams and who is in cahoots with dishonest institutions is honoured by corporates, governments, universities, for his dishonesty.

The writer, on the other hand, who for 25 years has privately funded and researched, proved, and exposed these scams to government, corporates and public, has been oppressively economically isolated to the extent that his family has been destroyed.

They were forced to leave for Dublin last Sunday because of; economic isolation by government & corporates; Gestapo style revenge attacks against his wife’s now consequently failed business and; Gestapo style attacks against them in general over many years.

The media, (radio, TV, press; local & international) who are owned, or influenced, by government or financial criminals, such as Donald Gordon and Raymond Ackerman, have all covered up these fraudulent scams.

The writer is persona non grata.

The “Unknown Pensioner” should be honoured in place of criminals such as Donald Gordon, Raymond Ackerman, Bernard Ebbers, etc, etc, etc,

The truth is that the assets of Organised Crime criminals such as Donald Gordon, Raymond Ackerman, Bernard Ebbers, should be confiscated and returned to pensioners/investors. A portion should also be set aside as a reward for Development Funding of 3^rd Worlds.

In addition Institutional Honourings for these criminals should be publicly stripped and replaced with a Universal Honouring of the “Unknown Pensioner”, representative of the bulk of whom, being low income earners of major corporates, had to live in abject poverty on pensions grossly reduced by massive fraud (on tins of dog food - if they were lucky - literally!!!!!).

Will Minister Pahad honour his promise – to reverse Manuel & Irwin’s oppressive economic isolation

Minister in the Presidency, Essop Pahad, gave the keynote opening presentation.

His comments confirmed government executive’s negative perceptions, but more importantly their lack of will to persevere in truth – Pahad has already perceived a minimal outcome from government’s economic task team (which was set up in response to the CDADD’s groundbreaking & ongoing research but with his exclusion).

Pahad has publicly stated his doubts about the governments economic task team – why then are the government executive continuing to pay them; and why are the task team members continuing to accept payment? Surely, it requires a change to people who can contribute positively and constructively!

This is the perception gained from the responses from a number of black people at the conference.

Pahad stated that he hoped that very difficult questions would be raised in the conference. Regrettably the Moderator, a government employee, destroyed this hope.

The writer raised an objection to Pahad concerning his experiences of theft of IP and economic isolation imposed by Manuel & Irwin and that it was as effective as a tool of oppression as it was with the early & mild forms under Nazism.

Despite a soft threat to have me arrested for accusing (justly & rightly so) Minister Manuel & Irwin Minister Pahad undertook to address the issue face-to-face with the writer.

DPE Minister Irwin

- glosses the public enterprises debacle

Irwin, an economist, simply reinforced 1^st World economist mindset thinking.

Interestingly a Professor, on his first visit to SA, challenged Irwin’s statement that public enterprises were successful; the professor stated that his experiences were of governments not being successful with such enterprises. Irwin assured him of his successes, but omitted to tell him of the many crashes and volumes of squandered cash pumped into them.

This misperception was corrected this at a later stage.

With no intent of pumping ego – but purely addressing comparatives:

The writer business engineered Transmed (a medscheme for government Transport employees) back in 1989 – 400% productivity improvement through re-engineering processes front-to-back, retraining, implementation, and without people off payroll, in 9 offices nationally, and within 6 months.

Maria Ramos has spent two years, shuffling & glossing financial statements, billions on development – by observing our rail network can anyone see one jot of improvement? Exactly the opposite; trains crashing, frustrations rising from poor service.

Despite Finance Minister Manuel saying there are plenty of funds for good plans Irwin refuses to engage Business Engineering pioneered by the writer, Irwin has also stolen IP.

- call for engineers to return to SA. BEWARE!!!; BEWARE!!!; BEWARE!!!

Irwin strongly promoted his call for 400 Engineers to fast-track important initiatives. He advised that many had been identified and were being persuaded to return to SA, and for those in early retirement to return.

BEWARE!!!

The writer is one of those who gave serious thought to emigrating – completing process forms & applications – after consideration moral/conscience values kicked in and said “No! – stick it out and give something back”.

In hindsight this was a huge mistake.

As anyone can see from this website – the articles are extensive & intensive in thought, research & development – they are ALL privately funded. Not one cent has been paid for the Hundreds of Billions of Rands value that this R&D has brought to SA, and the World.

A mere shift in mindset, from a destructive path to a constructive path, takes a massive amount of effort – even though the value can be difficult to calculate on a macro scale a small shift can produce Hundreds of Millions, if not Billions, in savings – to argue that reward is not paid because it is impossible to determine value even though it is intuitive that value has been given is dishonest.

Minster Irwin has had access to CDADD’s research; it has caused government, corporates, institutions, public enterprises, to change course, to change in their mindset thinking. This has been proven.

But Irwin chooses to be entirely dishonest and denies it – it is easy to deny making use of anyone’s IP, but the mere earthquake in the FinServInd that stems solely from CDADD’s research proves that Irwin is not telling the truth.

Manuel has said that there are plenty funds for good plans; research & development is a good plan in a country that is crashing initiatives all over the place – but Manuel also has dishonestly taken IP; refusing to pay for it.

This nazi-style economic isolation & ongoing Gestapo style attacks over many years has been extremely effective and finally forced the destruction of the writer’s family who left on Sunday to go & stay with family in Dublin.

A WARNING to anyone thinking of coming back to SA: – whilst blatant dishonesty is evident from government executives such as Manuel & Irwin rather then think before returning. If you decide to return – then think again.

Breaking into the job market in a 1^st World is difficult despite the seeming glut of adverts. In ten years time if SA has not been successful, which is a real possibility given the policies by Irwin & Manuel, you will be finding it impossible to re-establish back into a 1^st World, culture change is also extremely difficult.

What then are the positives for you over & above changing one environment & career for an unknown alternative?

In a brief approach during a break Irwin was confronted regarding his dishonesty in taking IP – Irwin denied he & government had and insisted that the writer deal not with him but only with the management of his enterprises that were involved with the IP theft.

Where will you be after you’ve returned to SA and find that you’ve foolishly risked your professional & financial base and family and future on empty promises, lies and deceptions?????

THINK CAREFULLY – YOU’VE BEEN WARNED.

Whether the Deputy President and Minister Pahad will be successful in bringing about a moral change and rectifying the thefts remains to be seen – but unless you see a POSITIVE statement on this website that there has been real & significant change then assume otherwise.

FinMin Trevor Manuel and the PIC – information comes to light

During a confidential discussion after the close of the conference the following came to light.

This is still to be confirmed but the following is a reflection of what was stated.

A year or so ago Finance Minister Trevor Manuel became aware of the Public Investment Commission (PIC) – this was an entity for providing retirement funds for government employees under the apartheid government. The PIC had funds of around R400 Billion.

During the following months Manuel arranged for the PIC to be changed by an Act of Parliament to the Public Investment Corporation. This was done and one share certificate was issued and one director appointed – to Trevor Manuel.

The funds in the corporation were then reshuffled according to Manuel’s choice and some have been used to fund government & BEE projects.

If the aforegoing is true, and there is no reason to suspect that the source of this information is unreliable, in fact totally the opposite, that it is reliable, then it would explain Manuel’s, and Irwin’s, refusal to address the FinServInd institutions fraudulent scams that CDADD has exposed.

It would also explain why the National Director of Public Prosecutions, Vusi Pikoli, has covered up the criminal investigation into Donald Gordon – government pressure. (the frauds by Gordon are many orders of magnitude greater than that of Enron).

The State President needs to address this issue transparently.

What is becoming clear is that a corrupt structure headed up by Manuel & Irwin has developed. It would also explain why Manuel & Irwin have advised the State President to set up deals with secretive tax havens, and destroying local industries with cheap imports – it provides a means to siphon of “commissions”, and round-trip funds.

Conclusion:

The CHAMSA EfP Conference was clearly a dismal failure; both in:

- its failure to address the causal problems of poverty and

- the defectiveness of thinking pertaining to 1^st World economy systems & controls.

This being a reality, the Global Fight on causes of poverty now hangs on SA Deputy President’s promises – will she honour her promises and reverse the moral & corrupt decay within government & executive?

But there are real problems that obstruct the Deputy President even if she tries to honour her promises, and that is the immense power base that Manuel & Irwin have woven and behind which their defective, destructive, & oppressive policies have developed

Will Minister Pahad honour his promise to reverse the nazi style economic isolation policy

Will the State President address the issues around Manuel and the PIC?

It is hoped that CHAMSA will bring forward the next scheduled Conference (2007) to mid 2006 (latest) and with the focus on two-way (multi-way) interactive intellectual debate in place of one-way communication & imposition.

Positive & constructive engagement is urgently needed within SA, and the world.

2007 is far too far distant.

It is also clear that SA has to take the initiative in developing real solutions because 1^st World economists isolated from the realities cannot identify nor develop understanding of the causal problems.

South Africa has an inherent mindset of honouring dishonesty.

But it all hangs on SA Deputy President’s promises and whether she will honour her promises to turn around the moral decay & corruption.

Chris Addington Pr.Eng., +27 (0)83-962-7098, http://www.cdadd.com;