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Article posted by: White Nation correspondent Johannesburg– October 10 2016
SOUTH AFRICA- FAILED LAND OF COMMUNIST ANC ORGANIZED CRIME , LIBFARTS, UNION CHAOS , MISDIRECTED RAINBOW MONKEYS – AND WHITE GENOCIDE
THE sale of SA’s strategic fuel stocks is the heist of the democratic era. When most businesses had closed for the December break in 2015, acting CEO of the Strategic Fuel Fund (SFF) Sibusiso Gamede was hard at work, negotiating what he and Energy Minister Tina Joemat-Pettersson said months later was a “great deal “ for the country.
The entire stock of 10-million barrels was sold to three invited buyers at a discount on the spot price of between $3 and $14 a barrel, an average discount of $7 a barrel. This is not to mention the dead-certain prospect that as the market was already at a historic low — so-called “contango” — the buyers also stood to gain handsomely as the price rose.
The sale took place without the knowledge of the fund’s board or its holding company, the Central Energy Fund. It also took place without the permission of the finance minister, which is required by both the Central Energy Fund Act and the Public Finance Management Act. Joemat-Pettersson was on board, though. In correspondence with Gamede, she authorized what the two described as a “rotation” of the stocks, for the spurious reason that the oil stock was “to some extent losing its relevance with changing market conditions”. The plan hatched fast. On October 6 2015, Gamede wrote to Joemat-Pettersson with the suggestion. Two days later, she granted permission for the “rotation“, to which she attached some conditions. These included that the fund establish a professionally staffed trading division and that it perform due diligence before the sale. Two days after that, Gamede wrote back, requesting permission to “sell the entire quantity of 10.3-million barrels”. His letter states that “every barrel will be sold at the prevailing market price” and that the proceeds will be used to buy another 10.3-million barrels on the open market.
In the December break, the deal was closed with three big oil traders — Nigerian firm Taleveras, Swiss firm Glencore and Dutch firm Vitol — exclusively invited into the deal. The money flowed to the SFF in the first four months of the new year. Judging from the barrels each bought, the date the money moved and the spot oil price and rand dollar exchange rate at the time, buyers received a substantial discount. Two South African firms were also invited to partner with the latter two: Venus Rays Trade and Vesquin, a firm jointly owned by Vitol and energy entrepreneur Simphiwe Mehlomakulu. Since Vesquin/Vitol bought 3-million barrels and paid $78.6m, which moved only in April when the spot price was already at $40 a barrel, it scored an amazing discount of $14 a barrel.
Despite this blatant raid on the fiscus, the puppet government has said little, almost nothing. The energy minister mentioned it by-the-by in her budget vote speech, saying rotation of the stock was necessary as it was “useless”; the finance minister, whose authority was required, has been silent; the ANC has not said a word; and the auditor-general timidly gave it two lines in his report on the SFF, saying that the deal had contravened the Public Finance Management Act. The auditor-general also noted that the oil price has since risen to about $45 a barrel, leaving the fund with a shortfall of R170m. From the auditor-general’s report, it is clear that a full audit of the transaction has been delayed pending a report from Joemat-Pettersson, who has said she was” looking at whether her directives for the sale — due diligence etc — were carried out by Gamede.” But this looks like a ploy to avoid the real issues of why the stocks were sold in the first place, and why Gamede thought it a good idea to leave so much money on the table. The question is why these two scoundrels and their corrupt president-boss still are walking as free people- whereas we- on the contrary- would be arrested and thrown in jail a long time ago. What “special privileges” does these criminal politicians enjoy that puts them above the law?
NOW– IF you could remember- this is the SECOND time this criminals pull a stunt like this. Remember Pneul Maduna- when under Thabo Mbeki’s regime they ALSO stole our oil reserves and sold it to the Chinese. Yet NOTHING was done to them as well! However– nothing these illegitimate regime maggots do or steal could match what happened at the hoax of the century- CODESA- when De Klerk, Mandela and Oppenheimer masterminded the BIGGEST heist this country has ever experienced- by stealing 4 TRILLION rands worth of gold from the Reserve Bank- and send it via Citi Bank to the Jews in New York! THEY never were apprehended for fraud or corruption- but on the contrary they received the flippen NOBEL PRIZE for it!!!! WTF??? If we try to embezzle R 1000.00- we receive a freakin JAIL sentence for it! Conclusion: The petty thieves are jailed while the big thieves are running- or is it “ruining” the country! These political villains are common thieves- yet they were allowed to steal and enjoy political ” indemnity?” AND they do it over-and-over again! Where is the outcry? Where is the demands for justice? Where are the racist anti-white MEDIA that can carry on for weeks about a white that refuse ANC thieves in his guest house? Meanwhile the food from OUR children’s plates were stolen at the petrol pump while these criminals sells our oil which could have buffered the ever-escalating oil prices in times of financial instability.If Julius Malema was not such an anti-white buffoon- I would have voted for him because he seems to be the ONLY one with the guts to stand up and tell these thugging goons what they are. De Klerk, Mbeki, Zuma, Joemat-Petersen , Jordaan and many of these criminals from the illegitimate puppet regime SHOULD have been behind bars LONG ago- yet they still languish in OUR parliament at OUR cost- WHY? Because they deem themselves “untouchable” and laws (which they themselves fabricate and pump out) only apply to the “masses? South Africa SURELY is a Koo-de-etat state run by wolves in sheep’s clothing and kangaroo courts of misdirected justice!
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