You might remember that in making a point, Douglas said the one thing he didn't object to with banks was their dividends, for they are purchasing power. As a general matter we want all citizens to effectively become equal shareholders of the Reserve Bank who receive dividends in supplement to their incomes.
In the United States, the Fed's shares are not traded but held by member banks, which are automatically shareholders. Now, the member banks have shareholders so the beneficial ownership is evidently more indirect in the US than SA.
This from the Reserve Bank's site http://www.reservebank.co.za/ :
***]
As a result of the delisting of the South African
Reserve Bank ("the Bank") from the list of the JSE
Securities Exchange South Africa ("the JSE") on 2 May
2002, the Bank deemed it necessary to make the
undermentioned documentation available to the general
public and its shareholders in order to be of
assistance when using the Over-the-Counter Share
Transfer Facility (OTCSTF), which provides for a
facility to trade in the Bank's shares and which was
implemented on 3 June 2002.Messrs A Jooste (+ 27 12 313 3350 ) or E Brand (+ 27 12 313 3061) may be contacted should further information be required in this regard. [***
Jessop, I have an assignment for you. Please ring these fellows up and ask if Reserve Bank stock is available for purchase, and at what price.
----Original Message Follows---- From: [EMAIL PROTECTED] Reply-To: [EMAIL PROTECTED] To: [EMAIL PROTECTED] Subject: Re: [SOCIAL CREDIT] newspeak and the South African Reserve Bank Date: Sat, 20 Sep 2003 14:29:12 +0200
Bill Yes, I have been there and have read the document. [snipped]
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