On Twitter – by Srini Naidoo
Here’s an affidavit submitted to the Commission of Inquiry into State Capture deposed to by Adriaan Rudolph Fondse, regarding the theft of 178000 metric tons of GOLD from the Reserve Bank . Submitted on 6 February 2020, all 219 pages of it.
South Africa’s Gold Reserves was reported at 6.140 USD bn in Dec 2019. This records an increase from the previous number of 5.867 USD bn for Nov 2019. South Africa’s Gold Reserves data is updated monthly, averaging 1.543 USD bn from Dec 1956 to Dec 2019, with 757 observations.
The data reached an all-time high of 7.493 USD bn in Sep 1980 and a record low of 147.319 USD mn in May 1961. South Africa’s Gold Reserves data remains active status in CEIC and is reported by CEIC Data. The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Gold Reserves: USD: Monthly: Middle East and Africa. CEIC extends history for monthly Gold Reserves. South African Reserve Bank provides Gold Reserves in USD. Gold Reserves prior to January 2001 are sourced from the International Monetary Fund.*Annual Economic Report – 1990P35The real effective exchange rate of the rand declined, on average, by 5,3 per cent from 1988 to 1989, mainly in sympathy with the decline in the nominal effective exchange rate. However, the average real effective exchange rate then appreciated again by a similar percentage in the first six months of 1990 vis-a-vis its average leve: in 1989, as a reflection of the relative stability of the nominal exchange rate during this period in the face of sustained large differences between the South African inflation rates and inflation in the country’s principal international trading partners.By 6 February 1990 the financial rand had firmed to R3,13 per dollar and to a discount .against the commercial rand of 19,2 per cent. Changing assessments of the socio-political situation and the continuation of violence in certain parts of the country subsequently caused the financial rand to return to levels of around R4,00 to the dollar and to its earlier discount of morethan 30 per cent.*P44 The privatisation of Iscor and the listing of the Iscor share issue on the Johannesburg Stock Exchange on 8 November 1989 resulted in a transfer of more than R2,9 billion to the Exchequer. This caused government deposits with the Reserve Bank to rise briefly to a peak amount of R13,5 billion on 27 November. Countervailing action by the Reserve Bank (operating partly through the Corporation for Public Deposits and the Public Investment Commissioners) for mitigating the potential shock effect of this transfer on money market conditions included the purchase of R1 500 million in promissory notes issued by the Land Bank, R88 million of project bills issued by Eskom, and R15 million of “cycle bills” issued by the South African Transport Services. All these bills had matured by mid-February 1990.The amount of 91-day Treasury bills offered at the weekly tender was reduced from R1 00 million on 28 July 1989 to nil on 4 August 1989. The tender was resumed on 11 August. The amount of bills on offer was increased gradually again from R20 million on 11 August 1989 to R100 million from 15 June 1990.
Bank for International Settlements
Aandeelhouers by Reserve bank…
South African Reserve Bank Shareholder Index as at 30 June 2019