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Press Release: UBUNTU Party Candidate Threatened With Arrest

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FW:  Feb. 23, 2015

Former Director of SARB Stephen Goodson, faces possible criminal charge and arrest … for disclosing secret criminal dealings of the South African Reserve Bank

On Monday, 16 February 2015 Stephen Goodson, former independent non-executive director of the South African Reserve Bank (2003-2012) and UBUNTU Party Parliamentary candidate in the 2014 general election, was interviewed at Kleinmond police station by Colonel Adriaan Schilz of the Directorate Priority Crime Investigation unit (Hawks) in Bellville, Cape Town, South Africa. 

Mr Goodson, who was assisted by his legal adviser, is being investigated on suspicion of having committed a “crime”, by disclosing secret dealings of the SARB, and what Goodson has called “various criminal activities which have taken place at the Reserve Bank over a long period of time.”

Mr Goodson was able to express himself in a vigorous manner.  Unfortunately Colonel Schilz was ill-prepared and appeared to be out of his depth on the knowledge about the true nature, origins and ownership of the SARB, which is outlined in great detail in Stephen Goodson’s book, “ Inside the South African Reserve Bank - Its Origins and Secrets Exposed.”

 Colonel Schilz clearly struggled to follow Mr Goodson’s explanations.  After an extended interview,  Schilz terminated the meeting out of sheer exasperation. 

This action simply highlights the secretive activity of SARB and the secrecy clause that protects this establishment from being exposed, and prevents ordinary people who have been harmed by its actions from attaining justice.

Furthermore, it clearly highlights the fact that the SARB operates above the law and masquerades as both a private corporation and a government institution protected by legislature.

Mr Goodson strenuously denies having committed any “crime” for the following reasons.

(i)    In his letter of appointment dated 27 August 2003 there is no mention of him having to comply with a secrecy clause.

(ii)    The secrecy clause, section 33 of the SA Reserve Bank Act, which the bank is relying on, specifically states that directors and bank officials may not disclose any information relating to the bank’s activities without permission.  It does not include ex-independent non-executive directors in it its ambit.

(iii)    Section 33 was not present in the Banking and Currency Act of 1920 and the SA Reserve Bank Act of 1944, and was introduced in to the 1989 Act by then governor, Chris Stals, in order to prevent any leaks regarding Operation Hammer, which involved the heist of 3,000 tons of South Africa’s strategic gold reserve, which was stored at Kloten Airport, Zurich.  This gold was subsequently used to bail out insolvent banks in New York.

(iv)    The Reserve Bank is not a government department, but a private corporation with private shareholders and is regulated by the Bank for International Settlements in Basel, Switzerland.  The latter bank is also a private corporation with private shareholders and is ultimately controlled by various banking families such as the Rothschilds and the Rockefellers.

(v)    The Reserve Bank, in flagrant violation of all norms and legal procedures, has abused its powers and deceived the SA Police into investigating this alleged “crime”, which is strictly a CIVIL matter.  It should be noted that the SA Police is one of the most disreputable police services in the world.  Its previous Commissioner of Police, Bheki Cele, was fired after being involved in a property swindle valued at over R1.7 billion ($145 million), while his predecessor, Jackie Selebi, a former head of Interpol, was jailed for 15 years for countless acts of corruption.

Mr Goodson points out that internationally no action has been taken against recent whistleblowers who have contravened the strict secrecy clauses of their employers.

(i)    Karen Hudes, who was for over 20 years legal counsel at the World Bank, has disclosed improper accounting, corruption and criminal behaviour.

(ii)    Greg Smith, former vice president of Goldman Sachs, has written a book “Why I left Goldman Sachs”, detailing unethical behaviour, ripping off of clients, mortgage backed securities fraud etc.

This matter will now be referred to the public prosecutor.  In the event of Mr Goodson being found guilty and being convicted by an Admiralty court of law for the “crime” of having told the truth, he faces paying a fine of R4,000 ($340) or one year in prison or both.

We will be releasing an open letter to the media, government and the people of South Africa about the alleged criminal activity of the SARB, and the private banks that fall under the SARB’s control, which will aim to inform the ignorant politicians and people of our land of how our country has been stolen from us by a secretive group of international bankers who operate from Basel, Switzerland and control every aspect of our government and financial & economic policy.

Mr Goodson can be reached via email at:

Michael Tellinger - UBUNTU Party Leader.