South Africa has a law that is more destructive and more malicious than apartheid.
The Insolvency Act was introduced in 1936.
It allows a person to be stripped of almost everything they own, as long as they cannot (or do not) pay a debt of at least 50 pounds. The law is so old that it is still denominated in British pounds, and the law equates this to just R100. The last time we enjoyed an exchange rate of 2:1 to the pound was back in 1961-1967.
The above caption says it all.
The New Economic Rights Alliance is appalled that this legislation not only still exists, but is being actively used by lawyers to tear apart lives, families and communities. As such, the NewERA took to the streets in Pietermaritzburg in peaceful protest.
The first stop on route was outside the offices of a local law firm, MASON INC, who is using this law to their advantage. This very law firm is trying to use the Insolvency Act to carve up the assets of NewERA Chairman, Scott Cundill, and earn massive fees as a result.
Luckily, the attempt was thwarted, and our Chairman is safe, but at great cost. And how many thousands of others are not so lucky?
“I am sorry, but our children will not survive the exponential effect of our doomed money system.” Says Cundill.
“This is a do or die fight.”
Mr Cundill led the March and addressed the crowd underneath a statue of Gandhi. He stated “We fought for our political freedom, now we must fight even harder for our economic freedom.”
He lambasted the Insolvency Act and he spoke of money creation by banks. He begged people to learn how the money system works.
“The word loan is not what you think it is! It’s a lie!”
A petition, representing 40,000 NewERA Members, was ready to be handed to representatives from MASON INC. But the directors of the law firm refused to come down to receive it.
From the street below, the crowd chanted “Come out Cowards!” “Stop hiding!” and “People before lawyers!”
NewERA representatives went upstairs to call the law firm’s directors, but they refused to appear. A junior clerk received the petition in the safety his office, and did not introduce himself by name.
“The banking system is ripping us off on a daily basis” said one protester. ”It must be stopped. The secret practice of securitisation that happens behind closed doors must be disclosed to the South African people.”
A copy of the petition is attached and includes a plea for lawyers to work with the judiciary to amend this archaic and destructive piece of legislation. It also includes a directive from the United Nations.
The crowd continued to the Kwa-Zulu Natal Legislature chanting “no more greedy lawyers” and “People before profits.” An official from the legislature came down to receive the petition, and promised to take it to the appropriate committee.
The march was peaceful, designed to make very a clear statement: “The NewERA is here, and you are not alone.”