Jump to content

bluefile

Members
  • Content Count

    2
  • Joined

  • Last visited

Community Reputation

0 Neutral

About bluefile

  • Rank
    Newbie
  1. BERNARD GLAZER (1913-1984) A truly remarkable story, of a great man, that lay the foundation for an international empire. INTRODUCTION The discovery referenced as the ‘Blue File’ arose as a result of an investigation into allegations of irregularities concerning the Estate administration of the late Bernard Glazer. Nowhere in history are the Glazer Brothers mentioned for their achievements, and yet as research has revealed, they were very powerful men on this continent as well as abroad. Bernard Glazer was a private individual who played a major role in developing Southern and Central Africa when he consolidated their interests, after his brother Sam’s, untimely death in 1959. Bernard represented honor, integrity and courage, representative of the former generation that built South Africa and neighboring countries. He acted behind the scenes in conjunction with the highest executive levels of both government and private enterprise, in Africa and internationally. It is of historical importance to record this compilation as Bernard was a player in the larger globalization process before it was labeled. These foundations are crucial for an understanding of the smoke and mirror activity today. History- Glazer Mineral Right Interests The reconstruction of the Glazer Brother’s history in Southern Africa and internationally, remains the significance of the intellectual property that will provide an understanding of what is happening in South Africa presently. There is a grey area in South African history during the TRC hearings not disclosed in the public interest between 1970-1984 and thereafter to 1994.The nature and scope of Glazer assets, externalization, current conversion and utilization by external forces, may have an influence to the stability of the sub-region and the SADEC community of countries. Contrary to public opinion of mineral rights ownership in Southern Africa, beginning with Cecil John Rhodes and the Charter Group of companies, and the well publicized history of Anglo American/De Beers, Rio Tinto and Lonrho, there is the unpublished history of the Glazer Brothers. Did a cabalistic group of corporate barons hijack Glazer assets? If so, this is an extraordinary story that will demonstrate a far more sinister and unbridled greed that will cast long shadows across the decades to darken the reputations of some of South Africa’s most eminent professional men. Bernard Glazer did much to open up Botswana, Zimbabwe and Zambia from the early 1950’s with acquisitions of former British South Africa Company’s (BSAC), such as Tati Co [1.6 million acres in Botswana] and The Bechuanaland Exploration Co, the former managers for the BSAC in Southern Africa. This company held vast interests in Botswana, Zimbabwe, DRC and Zambia, including mineral, trading, timber and water rights. A schedule of some principal investments included Central Mining and Investment Corp-Rand Mines, African & European Investment Co, Charterland & General, Durban Roodepoort Deep, Rand Selection Corp, SA Mines Selection Ltd, Rhodesian Anglo American, President Steyn Gold Mining Co and Pretoria Portland Cement. With these various share interests the Glazer Brothers made controlling bids for Central Mining Investment Corp- Rand Mines and Lonrho in 1956/57. At the same time Consolidated Gold Fields was formed and records indicate an interest therein. One must bear in mind that the foundation of Southern Africa’s wealth and development after WWII was created in all commercial spheres, with mining at the core. Therefore, the matrix reconstruction of foundation structures 1948 – 1984 is relevant and what Glazer had acquired in the 1950`s of UK companies dating back to 1888. It is common knowledge that, during the eighties and thereafter, there was a capital flight of assets from South Africa, which deals were done by way of asset swaps and complex cross shareholdings in companies, the consequence of which is seriously hampering South Africa’s own development ability. Much of the macro economic problems faced by African countries are as a result of financial deals that were put together decades ago, the results of which various countries are having their mineral wealth stripped from them at far below the market related price. What is relevant from a NIP is what the long term consequences are for SADC and NEPAD, the continued asset stripping of the mineral wealth, as well as factors that are going to affect sustainable development and the balance of payments in years to come. What is also of relevance is to understand the market and the various factors that affect it, and can be manipulated to become a form of economic destabilization to the region in general. The relevance is determining, who and whom we are doing business with, and who and what is influencing things when they happen or are manipulated to happen. Intelligence is nothing other than information appropriated for purpose other than what it was initially intended, it has to be relevant, accurate and have a predictive quality. Tony Blair suggested in 2004 that the solution to African problems required resolution of mineral right ownership. That said, Botswana is enjoying the benefit via royalties, taxation and employment. A ‘Brief History on the exploration in the 'Tati District’ (Botswana)is a summary of mineral right succession since 1887 to date, directly or indirectly. Ownership in Botswana changed when Bernard & Sam Glazer, known as the ‘Glazer Brothers’ acquired Tati Company Ltd.( Tati Concession) & Bechuanaland Mining & Exploration Company Ltd.1888 UK( Bamangwato Concession) from The British South Africa Company in 1953 & 1955. Bernard Glazer operated in partnership with his brother, Samuel Lieb Glazer, who was found, slumped over his desk in 1959; having suffered what the coroner said was a heart attack. This, a mere two years after their much published controlling bids for Central Mining Investment Corporation/Rand Mines and London Rhodesia Mining Corporation [Lonrho] . Research has revealed that the Glazer Brothers acquired, with the purchase of the Bechuanaland Exploration Company Limited(BEC), principal investments in over 40 Transvaal finance and Gold Mining Companies, Rhodesian Companies and Commercial and Industrial holdings. These were in the form of cumulative preference and ordinary stock, preference shares, convertible notes and shares, mortgage debenture stock and so forth. After the acquisition these assets disappeared from the financials and ended up with Credit Suisse in 1956. Prior to the introduction of the electronic system, these shares were elaborately engraved certificates. An example is the 6% Cumulative Preference Stock of African and European Investment Company, of which these shares can be traced in the financials up until 1990, when the Company is de-registered from Companies in London. The Glazer brothers’ first post-war transaction on record is their acquisition of Marston House, a building in Johannesburg in January 1946 and the subsequent registration of a company, Embassy Investments (Pty) Ltd. This was the first investment in a real estate portfolio that by the mid-1950s would include dozens of companies and even more buildings, most of which were in the Johannesburg CBD and which included most if not all of the prime spots around the intersections of Eloff/Plein/Jeppe/ Joubert Streets. But it was the acquisition of vast landholdings – with mineral rights – in Bechuanaland (now Botswana) and Northern and Southern Rhodesia (now Zambia and Zimbabwe respectively) in the mid-1950s that would announce the Glazer brothers’ arrival as major players on the African scene. CENTRAL MINING -RAND MINES The Glazer Brothers made a controlling bid in 1956 for Central Mining & Exploration Company (CME) – Rand Mines Ltd., the U K investment holding Company when they were already a substantial ordinary shareholder. The published results of this bid indicate that the controlling bid was not successful and an “accommodation of interests followed” with restructuring assistance by Baron Elie De Rothschild who represented important interests in the consortium! However, B Glazer stated in various press releases that the nature & character of Rand Mines would not change if successful, which may yet prove to be of historical significance and reveal how various interests were acquired by Kebble & Co after 1984. Evidence provided by the UK Commonwealth Office suggests a cession of Tati Mineral Rights in 1959 to CME along with their consolidation of Northern Lime on the Reads Drift Land Co. Ltd property in the Northern Cape. The later represented 60% of lime exports internationally. Reads Drift retained the trading rights which later became the foundation for Anglo African Shipping (US). This would also suggest the consolidation of mineral interests discussed. London Rhodesian (Lonhro) An article in The Bulawayo Chronicle on 26 July 1957 was headlined, ‘Glazers bid for Lonrho’. They had made a bid for 51% of the company, which had 4m shares in issue, by offering 13s. 6d. a share – a commitment of £1,377 million. The company was advising shareholders not to accept the offer and promised it would provide reasons in a letter. The bid was ‘apparently’ unsuccessful, but the possibility is being investigated that they bought it through an alternative structure or front company as they did others. Reconstruction today would suggest cross-holdings. Mineral rights: the Glazer modus operandi The ownership of mineral rights is quite separate from the physical act of mining. Following the discovery of diamonds in Kimberley and gold on the Witwatersrand in the late nineteenth century, the race was on to see what other riches Africa had in store and prospectors headed northwards. However it was not a free-for-all, but rather controlled in a most gentlemanly manner. Most of the expeditions were sponsored by corporate backers in London and Paris, and were conducted by teams that included more businessmen and lawyers than prospectors. For the first priority was not to determine the value of the gold or base metal deposits, but rather to secure the rights to do so over vast areas from the tribal chiefs. The biography of Cecil John Rhodes, The Founder by Robert I. Rotberg (Jonathan Ball, 2ed., 2002), illustrates this process clearly when it tells about the team that Rhodes sent to negotiate with King Lobengula of the Ndebele, who ruled over the independent Matabeleland. The team included Charles Rudd, a wealthy businessman who was a principal in Gold Fields and held shares in De Beers, as well as Rochfort Maguire, an Oxford graduate and one of the up-and-coming star lawyers of the day. When they arrived, ‘Bulawayo was … crowded with a motley collection of would-be syndicate creators, hunters, traders, prospectors and other hopefuls’. The king kept Rhodes’s party on a string for more than a month – they were camped outside his kraal – while he considered his options, but eventually he awarded the concession to Rhodes’s team and it became known as the Rudd Concession. In return for paying Lobengula £100 a month and supplying him with guns and ammunition and an armed steamboat to patrol the Zambezi, the king ‘assigned Rudd and company “the complete and exclusive charge over all the metals and minerals situated and contained in my kingdoms, principalities and dominions…”’. The concession gave the company carte blanche to do whatever was necessary to extract the metals and minerals and to protect their rights to the profits; it gave the company the right ‘to exclude all others seeking land or prospecting privileges from his kingdom’. It is known that the Glazer Brothers gained control over what was known as the Tati Concession, which would have been acquired in very much the same way and with similar terms and conditions. The actual work of prospecting, and the wholly separate operation of physically extracting the metals or minerals from the ground and transporting and marketing them, was done by companies created and financed specifically for that purpose. Such mining companies were sometimes created by the same people who owned the mineral rights, but more often than not it was a completely different company that moved in on the land with the consent of the rights holder. The rights holder, in effect, became the mining company’s landlord. This structure and practice remains in place today. The physical component of mining requires large investments in equipment, negotiations with labor, and a risk exposure to the vicissitudes of the market. The landowner, on the other hand, just sits back and waits. If gold – or nickel or copper – comes out of the ground, he gets a few pennies for every ounce, by simple virtue of the fact that he owns the mineral rights. What’s more, until such mining takes place, the landowner can sell the surface rights to a farmer, who will farm subject to allowing prospecting to take place on that farm. If a decision is taken to mine the area, the farmer – in exchange for certain compensation – has to allow the mining company access and he has to allow the mining company to put up whatever structures are necessary. The mineral rights in most African countries were nationalized following the independence of those countries. It is not known what compensation was paid to the holders of those rights, either by the Governments in question or by the British government. Evidence exists that deals were made whereby African Presidents formed partnerships with the original owners of the mineral rights in joint Government accounts. The history of corruption and skewed wealth in Africa strongly suggests such an arrangement and it will take a dedicated team many years to unravel. The infrastructure required to support a mining operation is vast; it includes roads, railway lines, electrical and telecommunications supplies, offices, housing for the workers, shops and so on. In many cases this infrastructure extends to whole towns being built. It’s a great business for landlords to be in, a fact well noted by Bernard and Sam Glazer, who, as mentioned, acquired a number of Cecil John Rhodes’s companies, with landholdings that stretched from Botswana through Zimbabwe (the former Rhodesia) to Zambia (the former Northern Rhodesia). For example, a report in The Bulawayo Chronicle of 7 May 1955 on the acquisition by Glazer Brothers (Pty) Ltd of 90% of Bechuanaland Exploration Company (a former Rhodes company) put the latter company’s holdings at ‘more than 500 000 acres of land in Southern Rhodesia, Northern Rhodesia and Bechuanaland, together with many prominent buildings and businesses in Bulawayo, Salisbury, Fort Victoria, Broken Hill, and the Aberfoyle Estates near Gwelo.’ The report continued thus: ‘with these properties, together with their tobacco ranches, and their investments in more than 40 leading South African and overseas companies, the “B.E.C’s” assets are estimated at more than £1,000,000.’ A schedule of principal investments included shares in companies such as African and European Investments Company, Central Mining and Investments Corporation Limited, Charterland and General, Durban Roodepoort Deep Limited, Free State Geduld Mines Limited, President Steyn Gold Mining Company, Rand Selection Corporation, South African Mines Selection Limited, West Rand Investment Trust, Western Reefs Exploration and Development Co, Rhodesian Anglo American and Pretoria Portland Cement to name but a few. African and European Investment Co Ltd played a major role in developing the Orange Free State goldfields during the 1950’s. The 6 % cumulative preference shares held by BE can be traced to 1990 when African and European Investment Co is de-registered from the records in Companies House, London, due to the fact that the company ceased to have an office in the United Kingdom. As can be seen, they held a substantial portfolio even then. And more importantly, they held the mineral rights to all that land. A study of the financial records of the BE Company reveal that within a few months of having gained control of the company, the Glazers moved the registered office to Zimbabwe and, true to form in other companies acquired by them, they raised mortgages on all the properties within the company to a total value of nearly £500 000. With this gearing they launched new developments, acquired more companies and financed the establishment of many others. The value of his estate at the time of his passing was given as being in the region of R30 million. Having acquired companies worth some £5 million in the 1950s, this would not represent good growth over 30 years. The "Blue File Investigation" wished to uncover whether this was the true state of affairs or whether certain assets were hidden from his beneficiaries – his wife and children – who would have known little or nothing about the true nature and extent of his business at the time of his passing. Making an ‘invisible’ asset disappear Bernard Glazer did much to open up Botswana, Zimbabwe and Zambia and to provide the kind of infrastructure mentioned earlier. His involvement in the development of Francistown in Botswana is but one example. However, it’s important at this stage to understand the implications of the ‘invisible’ asset of mineral rights and how Glazer became the ultimate landlord by virtue of his acquisition of the Bechuanaland Mining & Exploration Company (BEC) (1888 UK) and Tati Company Ltd.(UK 1914) in 1953 and 1955 respectively. On 29 October 1889 Rhodes received Queen Victoria’s Charter and Statutes of Incorporation of The British South Africa Company (B.S.A). Authorizing it to carry into effect, the Rudd’s Concession and any others of similar character it might acquire with the view of promoting trade, commerce, civilization and good government within its sphere of operations. The British South Africa Company (B.S.A) became known as the ‘Chartered Company’ and incurred the costs of running and developing the country. On 25 April 1888 Lord Gifford, Edmund Davis (Knighted in 1927), George Crawston and associates had registered the Bechuanaland Exploration Company (BEC),with its offices in Bulawayo and London, to explore the mineral rights within a concession that had been granted to them in Bechuanaland by Khama, Paramount Chief of the Bamangwato. They also formed the Exploring Company Limited., which aimed to have a wider scope and, even after the comprehensive Rudd Concession had been granted in March 1889, the Exploring Company was given a share in the Rudd Concession held chiefly by Rhodes and Alfred Beit, both of whom joined the board of the Exploring Company. The Rudd Concession was the crucial deal that enabled Rhodes to gain a Charter from the British parliament. The Charter was Britain’s colonial arrangement whereby a company that showed it to be worthy was given the right to govern a territory on its behalf. It could collect taxes, run an army, and generally turn the landscape into a private commercial enterprise. In this way the British government could tax the profits of the colonies without having to incur the expenses of maintaining them. But more importantly, this arrangement gave the English commercial control – to the exclusion of all others – over the world’s richest mineral and metal deposits. The BEC Company became “Managers in South Africa” for the Northern Territories (B.S.A) Exploring Company registered on 19th February 1895, which was reorganized as the Northern Copper (B.S.A) Company in June 1899;the Rhodesia Copper Company registered on 31st January 1902;the Rhodesian Broken Hill Development Company registered on 30th November 1904, and; the Rhodesia Copper & General Exploration & Finance Company registered on 5th March 1909.The BEC was also the “Agents in South Africa” for; the Kafue Copper Development Company registered 31st May 1905, and the Bwana M`Kubwa Copper Mining Company registered on 16th March 1910.These six companies were formed by Edmund Davis and allied interests. On 28th September 1914, an agreement of sale followed between The Northern Copper(B.S.A) and its Liquidator, the Bechuanaland Exploration Company Limited, the purchaser company, accepted such title as the Vendor Company as to the property and assets agreed to be sold and transferred. During the administration of the Rhodesia’s from 1889 to 1924 the B.S.A had heavy annual deficits, which it covered by issuing new shares while the shareholders never received a dividend. Negotiations with the British Government resulted in an agreement with the Secretary of State for the Colonies, dated 29th September 1923, providing for the cash payment by the Crown to the Company as a contribution towards the latter’s financial loss during 35 years of “governing authority”. It was then decided to grant exclusive prospecting rights over large areas to responsible mining interests, which could afford to establish and maintain the proper staff and necessary organization to undertake systematic and thorough search for mineral deposits. These “concession companies” had to spend a minimum amount each year on prospecting subject to the usual royalties and license fees payable to the B.S.A or just prior to the termination of a concession, to take up stipulated acreages of special grants for more thorough investigation. In the flotation of these “concession companies”, the B.S.A was entitled to a stated allotment of fully paid up shares. In granting a concession, the B.S.A excluded from the area any small areas, which had been pegged or assigned under previous agreements. The formation and activities of the “concession companies” for the period of transition 1923 to 1931 and the period of achievement and reward for the various directors of the BEC until the death of Sir Edmund Davis (1939) is well described in the book by J Austin Bankcroft, “A Chronicle of Mineral Exploration and Mining Development for Mining in Northern Rhodesia”. (Zambia) In 1924, the administration of Northern Rhodesia passed to the Colonial Office, but B.S.A retained its ownership of mineral rights throughout the Territory, except for certain rights, which had been alienated in the early days. POST WWII & B.S.A Privatization 1950`s It would require a mentally agile type of accountant to unravel the interlocking interests of these early companies and to record the transfers of proportional interests in various properties from one company to another. In order to follow mineral right succession after the Second World War, the White Paper for B.S.A claims to mineral royalties in Northern Rhodesia tested the validity of the B.S.A royalty payments by Senior Council. The results are as follows; The British Government pledged to the Company half the revenue of future land sales and recognized the Company as owner of all the mineral ores under the ground all over Northern Rhodesia, and anybody mining those ores under the ground all over Northern Rhodesia, and anybody mining those ores has been compelled to pay royalties, not to the Northern Rhodesian Government, but to the Company. The British Government chose to avoid meeting the “Companies Claim” for its administrative deficit by appearing to recognize the Company as owner of the mineral rights in perpetuity in terms of the 1923 agreement. The royalties question had been raised again by Welensky in the Northern Rhodesia legislative council in November 1948. In March 1949, a motion was passed asking permission to tax the royalties. Reconciliation began between Sir Dougal Malcolm, president of the B.S.A in Bulawayo and Welensky. In May 1949 the Company conceded it would be ready to negotiate with the British Government if invited to do so by the Colonial Secretary. What resulted from the bargaining was an agreement dated the 14th September 1950 between the Secretary of State for the Colonies, the Governor of Northern Rhodesia and the B.S.A incorporated by Royal Charter where the essence of the agreement is as follows;” The Company shall continue in undisturbed enjoyment, as now, of the mineral rights owned by the Company in Northern Rhodesia until the 1st October 1986. Thereafter, the Company assigns to the Government of Northern Rhodesia 20% of the net revenue derived by the Company from the exercise on and after the 1st October 1949 and until and including 30 September 1986 of its mineral rights in Northern Rhodesia. There here have been two major ‘agreements’ in the royalties’ history; that in 1923 signed by Her Majesty’s Government and the Company, and that in 1950 in which the then Colonial Government in Northern Rhodesia was introduced as a third part. Any validity, which the Company’s present claims could possibly enjoy, derives not from the original concessions and treaties, but from these subsequent agreements, Ordinances, Orders in Council and Proclamations. It is Council’s opinion, however, that these later only confirm the Company’s rights and privileges to the extent that they were originally valid. Whether the Company’s claims to mineral rights are valid or not, the responsibility for the present situation rests “entirely”, to quote from the Cohen letter, with her Majesty’s Government. Throughout the life of the present royalties Her Majesty’s Government has been the sovereign power in Northern Rhodesia and the protector of its people. Her Majesty’s Government has been intimately involved, both as an initiator and as participant, at every stage in the royalties’ history. The Crown Agents, established 1833, known originally as the Joint Agents General for Crown Colonies, and as the Crown Agents for the Colonies after 1863, the office’s title became, the Crown Agents for Overseas Government and Administrations, which was adopted in 1954 to take in account the inclusion of independent governments, non-and semi-government organizations and international bodies among its principals. Despite its name, was not answerable to either the Crown or the British Government. It had no constitution, enjoyed Crown exemption from taxation and represented a self- perpetuating organization by making no call on British public funds. The Chairman of the Crown Agents was appointed by Britain’s Foreign and Commonwealth Secretary, but the office was not a department of the British Government nor where its staff civil servants. The problem with the appointment of Chairman was that there was little or no control over their subsequent activities, mainly for the reason that 95% of their work was performed as Agents for overseas principals and a comparatively small part was performed for HM Government or for the administration of the Colonies. The Crown Agents ran the day-to-day affairs of what British historians called “The Third Empire” and according to its Charter, Crown agents is an “Emanation of the Crown”, though through much of its existence, it was overseen by the Colonial Secretary. This changed in the latter half of the twentieth century, when public pressure forced the political face of the colonized countries to change. The British effort to meld Africa, the Middle East and other regions into a single empire, ultimately failed. The British were forced to formally decolonize Africa 1962-66. However, Britain never intended to make its colonies truly independent, just as it never intended to give any Arab State control over its own destiny. Roland’s LONHRO was one of the major institutions that the British used to continue to control Africa, just as the creation of Israel was designed to be an instrument of post WW11 British control of the Middle East. Sir Ronald Praine was instrumental in 1956 in founding the Merchant Bank of Central Africa. The shareholders, who included R.S.T, Rothschild and Hill Samuel London, the Banque Lambert group in Brussels and Dillon Read in New York elected Sir Praine as the first chairman, where he remained in this capacity until leaving Salisbury in 1964. The Bank was phenomenally successful and still in operation. The report of the Tribunal appointed to enquire into certain issues arising out of operations of the Crown Agents as financiers for own account in the years 1967-1974 proved quiet the contrary (Chairman, His Honor Judge E.S. Fay, Q.C). The Crown Agents objective seems to have been to blur the distinction between activities as agents or principals and own account activities. They did not make enough money on their brokerage, etc. margins to accumulate funds and they had therefore traded in securities on behalf of their principals, who included governments and central banks, with additional monies the Crown Agents had borrowed or accepted on deposit from the private sector and outside institutions. In addition to investing their principals money, the Crown Agents where offering inter-bank in the name of the Crown Agents as a whole and not specifically on behalf of principals. The Union Bank of Switzerland working with the Crown Agents also managed and procured bonds and fixed interest securities as agents for individuals in the private sector apart fro Governments and agencies. There have been few amendments to the BSA Charter since 29 October 1889. Up until 1979, to include the last amendment 16 August 1954 of the BSA Charters and Statutes confirms the principal field of operations shall be the region of South Africa lying immediately to the north of British Bechuanaland (Botswana), and to the north and west of the South African Republic, and to the west of the Portuguese Dominions. Particular reference is made to the Tati Concessions. In Botswana, Glazer maintained the confidentiality agreements that ensured private mineral rights succession, which may have appeared nationalized, with the full support and of covert British companies and the South African Government. On 28 February 1970, the mineral rights in Botswana were retained by Glazer in a confidential agreement signed with Sir Seretse Khama to realize Botswana mineral potential by selling certain ‘surface’ rights, donating or purchasing property. Twelve mineral areas sold (surface) were subject to retention of mineral rights and although “abandoned” on 21 June 1974, joint ventures followed between Glazer, Botswana Government and an “agreed operator” with Tati Territory Exploration Company, a sister Glazer Company receiving the cession. Four days later, 25 June 1974 Tati Territory abandoned the cession; the mineral rights were retained by Tati as the abandonment is not in favor of Botswana Government. What in effect had happened was a predetermined joint venture with Botswana Government for a tax concession for the life of the mine with an acceptable operator, which continues today. On 22 March 1982, Bechuanaland Exploration Company P.L.C re-registered as a Public Limited Company by resolution of the Board of Directors, the objects of the company established were amongst others as follows; “3.The Registered Office of the Company will be situated in England “4(A). To acquire certain rights and privileges and concessions granted by Khama, Chief of the Bamangwato, partly within the Bechuanaland Protectorate (Botswana) and partly without, South Africa, to the Northern Gold Fields Syndicate of Cape Town, and with a view thereto to adopt and carry into effect, with or without modification, the agreement referred to in clause 3 of the Company’s Article’s of Association © To purchase or otherwise acquire, and to sell, dispose of, and deal with mines and mining rights and property supposed to contain minerals or precious stones or other valuables, and any other undertakings connected therewith. BOTSWANA MINERAL RIGHTS The relevance of the Glazer agreement with Sir Seretse Khama was his ownership of the Tati Company & Bechuanaland Mining & Exploration Company (BEC). Tati Company owned the Tati Concession embracing an area of 1,300,000 acres acquired from Lobengula in 1887 to James Fairbairn and Samuel Edwards who, in 1888 formed the Tati Concession Mining & Exploration Company under the laws of the Cape Colony. Also, BEC had rights dating back to 16 May 1888 in an Agreement of Purchase dating back to 16 May 1888 with La Caisse des Mines for the Bamangwato Concession from Khama. In terms of a later agreement dated 5 September 1922 Tati Co sold to BEC 260 000 acres in exchange for a reduction of shares in exchange for BEC holding in Tati Co (400 000-86 666=313 334). This exchange for 260 000 acres becomes crucial to the understanding of the insider trading by the Glazer Trustees after his passing 17 July 1984 and the restructuring that is described below. The Testamentary Trust of Bernard Glazer, states specifically that all his assets vest in his Testamentary Trust, which came into operation at the time of his death. The assets listed by the Trustees in the Liquidation and Distribution Accounts, forwarded to the Master of the High Court in Pretoria, nowhere came close to reflecting the actual assets, as Glazer himself, held many of his assets in bearer and/or nominee form. The Will and Letters of Executorships and the “Administration of the Trust”, vests in the Master of the High Court in Pretoria. The Glazer Will Trust was put into provisional liquidation in 2002? The administrators decided to wind up assets in terms of the laws applicable to the countries in which Bernard Glazer held assets, never reverting those assets to the Trust, but rather, to siphon them and their consequential income, to his Panamanian registered company, Amarena. An investigation has revealed the administrators traded for there own account! The 260 000 acres referred to above was transferred to Sam Estates Land Co & Sam Estates Holdings for a nominal amount of P312 000 (Botswana PULA) in 1988. Similarly, all the assets of Bechuanaland Mining & Exploration were transferred to Tati Co for $2 (Zimbabwe Dollars). Tati Holding Company was Glazer Brothers (Pty) Zimbabwe which ultimate holding company was Amarena Holdings (Panama). The administrators traded for there own account or did they! BOTSWANS EXECUTION POST 1984 The following companies were registered to affect the above ‘Execution’ and JVA with Falconbridge and Phelps Dodge as follows; 1. Shashe Mines (Pty) Ltd Co. No 87/33 (Botswana) 22 January 1987 Certificate of Incorporation. On 17 June 1992 Sam Glazer (jnr.) advised the Agreement dated 23 September 1987 with Shashe was amended 19 January 1989 to include Bullion (Pty) Ltd as the new domicile for the referenced agreement. Shashe Holdings (Pty) Ltd was incorporated 11 August 1992 (For complete Interlocking interests please see summary). Mining & Development (Botswana) (Pty) LTD incorporated 27 October 1981 changed its name to Monarch Goldfields Botswana (Pty) Ltd 10 Jan 1995, Company No.3565 with Mining Lease 89/2 Francis Prospecting (Pty) Ltd: Co. No. 94/1009 Bullion (Pty) Ltd & Bullion Holdings (Pty) Ltd (Bullion acquired 85% interest in Shashe. See 17 Feb 1992 Shashe summary and Northern Ranching Company (Pty) Ltd) 2. Gold Fields Botswana (Pty) Ltd (Subscriber Hermanus Christoffel Du Plessis- Glazer employee) 12 September 1983 Certificate of Incorporation. A Glazer company with 10% shares issued to Gold Fields Mining & Development (Pty) Ltd and balance to Minu Nominees Ltd also registered as a Botswana Company. 3. Phelps Doge of Botswana (Pty) Ltd Co. No 87/34 31 December1986 Articles of Association. On 5 May 2000 the name was changed to Somerset Gold (Pty) Ltd. During 1987 Morex and Falconbridge/ Phelps Dodge were granted mining leases over the Rainbow and Map Nora gold mines. New licenses were issued to Falconbridge to the north and east of Map Nora; to Morex over the New Zealand and Blue Jacket Mines; and to Phelps dodge over an area that included the Prospect Mine 4. Tati Gallic (Pty) Ltd 13 December 1988 Certificate of Incorporation. A Glazer Company 5. Debridge Exploration Company. (Pty) Ltd (Subscriber Hermanus Christoffel Du Plessis- Glazer employee) 25 April 1985 Certificate of Incorporation De Beers Consolidated Mines Limited and Falconbridge (Botswana) Pty Ltd other than the area known as Gope 25. Please see interlocking directorships in summary. Note: Debridge Exploration (UK) Company No. 01174446 Dissolved 28 September 1999 6. Tati Nickel Mining Company (Pty) Ltd – Co No : 88/619 1985 Francistown Mining and Exploration Company (FME) was formed to develop Selkirk and Phoenix nickel & Copper deposits pursuant to a mining lease granted by Government for a period of 25 years, commencing 29 November 1988. Centametall has a custom smelting contract with Bamangwato Concessions Ltd, which is an integrated nickel and copper mining, concentration and operation which is owned by Anglo American (33%), Botswana Government (33%) and the general public (34%). 20 June 1988 Certificate of Incorporation of Tati Nickel Mining Company Ltd. Total Shareholding of 3000 pula with FME 782, Lexan Trading (Anglo) 816 + 2 secretarial to total 1600 issued 8 February 1989 (1400?) In May of 1996 a reverse listing of FME into a Canadian shelf company Liberian Ore established 1958 became LionOre. LionOre held 41.65% of Tati Nickel, Anglo 43.35% and Botswana Gov. 15%.In 2002, LionOre acquired Anglo 43.35% to total 85% and as part of acquisition an equity interest in Bamangwato Concessions Limited (BCL) for a cash consideration of $2. The equity interest is comprised of 7.5% direct interest in BCL and a 23.5% interest in Botswana RST Limited, a holding company whose main asset is an 85% interest in BCL. & See Tati Territory Summary draft 03) Exit: LionOre by Xstrata & Norlisk- Current June 07 7. Sam Estates Land Company (Pty) Ltd. Co. No 88/468 (Botswana) & Sam Estates Holdings (Pty) Ltd Co. No 88/452 (Botswana) (Subscriber Hermanus Christoffel Du Plessis- Glazer employee) In 1988 the assets of Bechuanaland Mining & Exploration Company include the Bamangwato Concession Agreement 1888 from Khama was transferred to Tati Co for $2. The 260 000 acres acquired from Tati Co 5 September 1922 is referenced below. 1 March 1957 Certificate of Registered Title In favor of THE BECHUANALAND EXPLORATION COMPANY LIMITED: Title Deed No. 2055 5 Sept. 1922 Deed of Transfer Passed in Favor of the BECHUANALAND EXPLORATION CO. LIMITED by TATI COMPANY LIMITED. This transfer was affected as a result of insider trading by the Administrators of the Glazer Will Trust with the following Title Deed to affect the same with Tati Nickel. Title Deed: 767/88 Description Title Deed No. Date Portion 1 of Farm 77NQ 24/62 25 April 1962 Portion 2 of Farm 77NQ 2055 1 March 1957 Portion 6 of Farm 77NQ 2055 1 March 1957 Remaining Extent Farm 77NQ 444 4 April 1927 Subject To: All properties are subject to conditions referred to in Deed No.159 dated 8 March 1916.Notarial Deed of Abandonment of Mineral Rights No. 32/74 dated 21 June 1974 (i.e. Cession in favor of Tati Territory Exploration Co.) (Tati Co abandonment of Mineral Rights in favor of Tati Territory Exploration Co Removal of Reservation of Trading Rights(Tati Company Ltd.) Act. No.26/79. LionOre acquired there interest for the same $2 8. Francis Prospecting (Pty) Ltd NO.94/1009 5 July 1994 Certificate of Incorporation 9 September 1999 Change of Name to Gallery Gold Botswana (Pty) Ltd Directors interlocking interests: Monarch Goldfields Botswana Shashe Holdings Shashe Mines Francis Prospecting September 2002: Gallery held mineral rights to some 1825 square Kilometers of greenstone terrain with partially overlapping diamond rights covering an additional 1773 square kilometers. The majority of mineral rights (94.4%), including those tenements covering the Mupane and Tekwane prospects and all the diamond rights are wholly owned by Gallery Gold. The establishment of Gallery Gold consolidated Title to those areas excluded in the cession of 12 mineral areas ceded to Tati Territory Exploration Company. Exploration also included Shashe Mining Lease (85% Gallery) and Golden Eagle and Map Nora defined by Phelps Dodge in the late 1980`s. The consolidated management company Lion Selection Group facilitated by America South Africa or ASA Ltd is consistent with Anglo management of Glazer property. Principal shareholders include CDC Capital Partners (Commonwealth Development Corp), Comafin (Zimbabwe), Investec Bank, Proparco (French), First Rand Bank and European Investment Bank through African Lion Limited (AFL Management Ltd) Mauritius to include various subsidiaries such as AfriOre, Albidon, Copperbelt Selection NL, East African Gold Mines Ltd. Equinox Resources Ltd, Gallery Gold Ltd, LionOre Australia Pty Ltd, Namibian Mineral Corporation, Red Back Mining NL and Spinifex Gold Ltd. Macquarie Bank Limited (former Hill Samuel 1970`s) is also principal financier and the reciprocal bank for ABSA (See COPTIC & Ashbourne Investments Summary) Quick Update 8 august 07 Note: Investec 2002 dual listed London & JHB. 2005 -3rd party assets under management $55Bn & Australia division 609mln stg. Acquires Rothschild & Sons (Australia) for 3.5bln stg.- has total assets of 2.1bln aud. Investec Asset Management launches $5 Bln Commodities Fund 2005 South Africa was the largest recipient of foreign direct investment (FDI) in Africa in 2005, experiencing a sharp jump in inflows to 6.4 billion U.S. dollars from only 0.8 billion dollars in 2004, a report by the UN Conference on Trade and Development (UNCTAD) showed on Tuesday. The acquisition of a majority stake in South African banking group ABSA by Britain-based Barclays for 5.5 billion dollars was cited as the reason South Africa received the lion's share of FDI inflows. (NB. See Volkskas International Summary- Coptic/ Ashbourne/ Incentive Holdings & Crest International Securities) 2007 Barclays /ABN AMRO M&A- Lion Selection Ltd & Asian Lion established and modeled on African Lion Founding shareholders ABN AMRO Australia Pty Ltd; PROPARCO (France) and the INTERNATIONAL FINANCE CORPORATE (IFC- Private Sector arm of World Bank Group) Lion Selection Press Release 3 July 07 9. Falconbridge Gold Mines (Pty) Ltd Co. No. 87/43 Certificate of inc.28 January 1987- Holding Company: Tati River Holdings Limited incorporated in the Bahamas and the ultimate holding company is Falconbridge Limited, a company incorporated in Canada. The company is engaged in the financing of profitable mining ventures in Botswana. 16 January 1991- Agreement with Bushman Copper Mines (Pty) Ltd. NB. Shares issued to Falconbridge Exploration (Botswana) (Pty) (Ltd) & to effect transaction issued share capital increase from 2000 to 2 100 000 of redeemable preference shares at par of one Pula in addition to existing rights. 14 May 1992- Proxy: Tati River Holdings Limited We, TATI RIVER HOLDINGS LIMITED of P.O Box 1043, Grand Cayman, Cayman Islands, B.W.I., hereby appoint Michael J. Knuckey as our Proxy to vote in our name and on our behalf at the Annual General Meeting of the Company’s subsidiary company, FALCONBRIDGE GOLD MINES (PTY) LTD., to be held on 15 May 1992 in Toronto, for the purpose of voting the shares of the Company, and at any adjournment thereof. Signed: TATI RIVER HOLDINGS LIMITED Per: CALEDONIAN BANK & TRUST LIMITED - Assistant Secretary 15 Sept. 1992 Special Resolution: Falconbridge Gold Mines (Pty) Limited “Resolved that the name of the company be changed from Falconbridge Gold Mines (Pty) Limited to NAMHSUB HOLDINGS (PTY) LIMITED. Filed: Ernst & Young Management Services (Pty) Limited 22 Dec. 1992 Certificate of Change of Name Falconbridge Gold Mines (Pty) Ltd. to NAMHSUB HOLDINGS (Pty) Ltd Note: CALEDONIAN BANK & TRUST LIMITED Caledonian Bank & Trust was founded in 1970 as Cayhaven Corporate Services. In 1988 Caledonian Bank obtained a Category a Bank & Trust License. It is also the holder of an Insurance Managers License and in 1994 on the enactment of the Mutual Funds Law in the Cayman Islands, Caledonian was granted a Mutual Fund Administrators License. In 1997 Caledonian Trust Limited was established as a wholly owned subsidiary of Caledonian Bank to service clients in the European time zone. Caledonian Bank is audited by PriceWaterhouseCoopers. Directors: David G. Bird (Vice Chairman ) Graduated from Aberdeen University in 1969 with a Bachelor of Laws degree. Admitted as a Solicitor in Scotland in 1971 and as attorney-in-law in the Cayman Islands in 1973. A partner in the law firm W.S. Walker & Company (now Walkers) from 1976 to 1995. Past president of the Cayman Island Law Society. He has been closely involved in the development of the Cayman Islands as a financial centre. David Stephen Sargison (Managing Director) MD of Caledonian since 1989. Formerly he was Assistant General Manager of the Bank of Butterfield International (Cayman) Limited. Admitted as a Chartered Accountant in 1979. William S. Walker (See Ashbourne Investments Summary) Chairman He attended Trinity Hall Cambridge University where he obtained an M.A. with honors in law in 1948 and he was called to the bar in England in 1950. He obtained a diploma from the International Management Institute in Lausanne, Switzerland in 1953. Mr. Walker was admitted as an attorney at law in Jamaica and the Cayman Islands in 1963. He is the founder of W.S. Walker & Company and was senior partner until his retirement in October 1999. He has been involved in the offshore industry in the Cayman Islands since its inception. He was appointed as an Officer of the Order of the British Empire in 1978. FALCONBRIDGE LIMITED Directors: Alex Balogh Chairman Deputy Chairman, Noranda Inc. Appointed 1989. Jack Cockwell Co-Chairman Brascan Corporation Appointed 1995 Robert J. Harding Deputy Chairman Chairman Brascan Corporation David Kerr Executive Chairman Noranda Inc. Appointed 1989 Edmund King Deputy Chairman Rockwater Capital Corporation Neville Kirchmann President & C.E.O the Princess Margaret Hospital Foundation Mary Mogford Corporate Director & Partner Mogford Campbell Associates Inc. Derek Pannell Deputy Chairman President & C.E.O Noranda Inc. David Race Corporate Director Aaron W. Regent President & C.E.O James Wallace President Pioneer Construction Inc. Related Has a share in Falconbridge Dominicana, Dominican Republic Organisation: Has a share in TGW Corporation (10 %) Toronto, Ontario, Canada Has Shareholder Noranda (58.4 %) Toronto, Ontario, Canada Note: Foundation Companies 1. (A) Gaberones Holdings (Pty) Ltd Co. No. 225(Botswana) 14 September 1964 Certificate of incorporation – Dennis Rex Kelly (Glazer employee) 11 November 1988 name change to Martex Investments (Pty) Ltd. 29 November 1999 name change to Barlow Botswana (Pty) Ltd. 6 February 2001 name change to Barloworld Botswana (Pty) Ltd ( Gaborone Holdings (Pty) Limited Co. No.89/722 7 June 1989 Certificate of incorporation – Lakhvinder Sing Walia (Desert Sec. Services) NB. Directorships include crossholdings with Martex Trading (Pty) Ltd, Martex Industries (Pty) Ltd, Martex Services (Pty) Ltd © Francistown Properties (Pty) Ltd Co. No. 446 20 Jan 1989 Name change to Martex Finance (Pty) Ltd 2. Tati Territory Exploration Company (Pty) Limited Co. No 206 (Botswana) 7 April 1964 Benny Struck & Bernard Glazer private company to effect notarial prospecting contract on Title Deed 129 over freehold grant No 88 of Tati Concessions of 1000sq.miles. 25 June 1974- Tati Territory surrendered Tati Company cession of mineral rights and on the 1 July 1974 a ‘special prospecting license was granted until Botswana Government, Anglo & Tati Company could find an acceptable operator. Unsecured loans- Atlas Mining Corporation (Glazer) & secured Tati Company & National Manganese Mines (Pty) Ltd).( See Summary & Tai Nickel post 1984). BOTSWANA RECENT EXAMPLE: Tati Territory/ Tati Nickel/ LionOre> Norlisk) In February 1970, B Glazer entered into an agreement with Sir Seretse Khama to realize mineral potential by selling certain ‘surface’ rights, donating or purchasing property. Twelve mineral areas sold (surface) were subject to retention of mineral rights and although “abandoned” on 21 June 1974, joint ventures followed between Glazer, Botswana Government and an “agreed operator” with Tati Territory Exploration Company, a sister Glazer Company receiving the cession. Four days later, 25 June 74 Tati Territory abandoned the cession; the mineral rights were retained by Tati Co Ltd.as the abandonment is not in favor of Botswana Government. What in effect had happened was a predetermined joint venture with Botswana Government for a tax concession for the life of the mine with an acceptable operator. In terms of Annexure “D” of an agreement entered and between the Tati Company Limited , the Bechuanaland Mining & Exploration Company Limited and the Government of the Republic of Botswana dated 26 February 1970, the farms set out in the schedule hereto were purchased by the State from Tati Company Limited. Registered in the Deeds Registry of Botswana 30 December 1971, under Certificate of State Title 223/71 are farms, 38,39,49,50,51,52,57,58,67 & 74 (NQ).(Note, an endorsement 30 December 1971 for farms 57,58 & 76-NQ contained in CRST 223/71 has been superseded by Certificate of consolidated Title No.54/72.) Also , additional farms purchased by State are,44,51,54,58,64,65,70,71,72,73,74,75,86 &95 (OQ) (NE of Francistown) The Certificate of Registered State Title conveyance free of charge to such farms aforesaid is subject to a simultaneous execution in favor of the Tati Company Limited, a Certificate of Rights to minerals No.19/71 dated 30 December 1971 by J.M. Ngananu, State Council (Land). The above excludes the former cession by Tati Company Ltd to Tati territory Exploration of 12 Mineral Areas which ended up with Tati Nickel/ LionOre after 1984. Also the area subsequently acquired by Gallery Gold, now IAM Gold. Bernard Glazer had retained the mineral rights and an agreement with Sedge Limited (RSA) (Anglo) for prospecting rights followed. The original agreement with Glazer & Benny Struck in the Tati Territory Exploration 1964 ended and was replaced with Anglo & Botswana Government after the so called “abandonment by Tati for a Tax Exemption”. The Department of Mines Botswana merely refers to Tati abandonment of mineral rights 21 June 1974 (32/74) but no reference is made of Tati Territory Exploration abandonment 25 June 1974, which reverted back to Tati Company Limited. Therefore, the smoke & mirror of this abandonment continues today. (FOR INFORMATION :Principal to the reorganization in Anglo (Sedge Ltd) was Sidney Spiro, Chairman who joined Anglo 1953.Spiro was Executive Director 1961-77, International Banking Consultant to Anglo American Corp., Vice- Chairman and Managing Dir. Charter Consolidated Ltd.1969-71, Mng. Dr.1971-72, Chair. 1971-76,Dir. Of Companies Barclays Bank Intl. Ltd., Hambros Ltd., De Beers Consolidated Mines Ltd., Rio Tinto Zinc Corpn. Ltd and member of Canadian Imperial Bank of Commerce. Attorney consultant was John William Turnball and former senior partner for Webber Wenzel & Co.) EXTERNALIZATION The most recent example is the SA Competitions Tribunal approval for Xstrata & Norlisk acquisition bid ($7B) for LionOre. Although Xstrata friendly bid was ‘trumped’ research indicates that Norlisk origins in Siberia from the 1930`s coincide with Glazer acquisition in the 1970`s of the Siberian Syndicate(Inc. UK 1913),an investment holding company with interests in Siberia and other mining investments in Russia, and a 10.7% holding in the ‘original’ Gold Fields. The name was changed to Crest International Securities in 1970 and had on its board numerous influential South Africans such as the Lubner brothers. The externalization of African mineral interests included Falconbridge (Via Noranda) with Tati River Holdings in the Bahamas which M& A was recently completed by Xstrata. By reverse restructuring into Canada, the predecessor of LionOre (Liberian Iron Ore estab.1958) acquired 98.3% of Francistown Mining & Exploration (Jersey) (FME) for $26m in July 1996.A name change followed and FME acquired 41.65% of Tati Nickel, Lexan Trading 43.35% (De Beers Centenary) & Botswana Government 15%. On 8 May 2002, LionOre acquired Anglo 43.35% and by 29 November 2002 the completed acquisition included an equity interest in Bamangwato Concessions Ltd (BCL) for a cash consideration of $2 referred to above. The relevance remains farms Mineral Area 7 (Farms 73NQ & 75 NQ) which formed part of the 12 mineral areas ceded to Tati Territory Exploration Company prior to Glazers passing away. The name of this company was replaced and an agreed operator as described above and continued in exactly the same share proportion as before. Also, I refer you to a Deed of transfer (Title Deed 767/88) 11 November 1988 from BEC to Sam Estate Land Company for a nominal value of P312 000. The Botswana Ministry of Mines rely on Tati abandonment 21 June 74 for public consumption, but a cession to Tati Territory Exploration and subsequent abandonment 4 days later did not revert back to the Botswana Government. Instead a tax concession followed for the life of the mine with the Government having a 15% share. In fact, this principal appears to apply to most arrangements irrespective of the M& A that have transpired. The 1987 Edition of the Laws of Botswana has been replaced by the 2002 Revised Edition and refer you to the Tati Concessions Land Act (Cap32:05). Apart from the Title Deed confirmation of Mineral Right retention submitted, the BSA Charter and Statutes was specific to Tati Concessions and from my understanding still rules. CONCLUSION An examination of the holdings of LONHRO in combination with Rio Tinto Zinc and the Anglo-American Corp., all run by the same interests, reveals that the three British firms control most of the world’s vital strategic minerals outside of Russia, and control the African economy. Yet official statistics tell little of the real story, particularily if the origins of Norlisk and Glazer’s 'Siberian Syndicate (UK 1913)' are the same? The 'Original LONHRO' controlled most African regions of revolutionary or separatist movements of the left, right, and ethnic or tribal variety. British imperial policy has always been based on manipulating all ethnic and political factions, and states, against each other. LONHRO was managed by Tiny Rowland since 1961, under Chairman Duncan Sandy who also served as Secretary of State for Commonwealth Relations and Secretary of State for the Colonies. South Africa became an independent country in 1961 and Rhodesia in 1965, at the same time that MI6, formerly known as SIS, took on a greater role in ensuring that British investments there would be protected. It has been suggested that Tiny Rowland was brought to LONHRO and used as a tool of intelligence operations to suppress Black-African uprisings against the white minority. This same racist fear was vented in 1985when Rowland was still manager of Lonhro. Could it be that Glazer’s unusual passing 17 July 1984 was to effect control? For years, Anglo has been a large shareholder of Lonhro. The relationship between Rhodesian Anglo as 'manager' for Bechuanaland Mining Exploration PLC dates back to the 1930`s. Rio Tinto Zinc (RTZ) was formed in the 1870`s by China opium trader Hugh Matheson, who was principal in the Hong Kong-based firm Jardine Matheson. The Rothschild’s have a significant stake in the company in the company as did the B.S.A. Anglo & RTZ combined control is a stunning percentage of the Western world’s most important minerals. LONHRO and the MOSSAD have simultaneously supported most African “self-styled liberation movements”, right, left or tribal, as well as whoever might be in power. The identity between those British establishment figures who currently control Israel and those who rule Africa is important to understand. Britain’s Lord Carrington, for example, is a patron of Sharon, and a key controller of the Mossad. He has long been associated with Barclays and RTZ mining interests, which dominate Southern Africa. Tiny Rowland was a British intelligence official who specialized in African operations through his firm. Lonhro, once one of the most powerful firms in Africa is on the come back and registered as LONMIN in 2000. The old companies of the last century have de-listed from UK Companies House, records withdrawn or “accidentally destroyed” as the new faces in Africa appear like “Rhodes Revisited.” The International Finance Corporation has begun with funding and exercising share options .(See Lonmin 16 August 07). There are numerous young South African’s on the LONMIN Board. Similarly, in January 2003, Ariel Sharon was investigated in connection with allegations of illegal campaign funds from a wartime comrade of Sharon’s, Cyril Kern (a British Citizen living in South Africa). Kern had served under Sharon during Israel’s war of independence in 1948 and runs The Sourcing Office in Cape Town. A front company was set up by Dov Weisglass to channel illegal contributions to the election campaign in 1999. The recently accepted recognition of the global “Cosa Nostra”, or organized crime , as a global consortium only became prevalent in the late 1980`s & 90`s. The financial “Laundromats” for this organization remained at the apex of creativity with secondary banking activities during the 1970`s which ultimately resulted in the collapse of the Crown Agents for Overseas Governments in August 1974. The same month President Nixon resigned, British Israeli Bank, Texas Commerce Bank, and the Franklin National Bank collapsed. The later was part of the Sindona Empire which also collapsed and was acquired by a consortium of banks, namely European American, which was principal to trans-national loans to South Africa at the apex of sanctions. B Glazer’s various investment holding companies in London, Namely Coptic ( Subsid. Volkskas International) and holding company Ashbourne Investments, was also subject to tribunal investigation just as the Crown Agents( See Crown Agents Tribunal Report). Lord Mancroft had resided on various Glazer companies as he did with Bank Leumi. Rabbi Mordecai Elefant of The Resource Group (Washington International Consultants) mediated with the Senate Banking Committee, European Banks & Fritz Leutwiler ( Swiss National bank 1952-1984; President Bank for International Settlements, Basel 1982-1984) a mediator between Government of South Africa and foreign banks. What did the Resignation & President Nixon and resultant Bank collapse with Crown Agents in August 1974 have in common? A pre determined plan where Crown Agents facilitated a laundrymat for US Treasury Bonds after the oil price hikes? A pattern of African Debt in exchange for resources rescheduled for the next US administration 30 years from 2008? The revolution of the African Continent remains by design. Former agreements in the 1970`s are a result of loans interlocked in the social fabric of Southern Africa today. The Glazer consolidation of minerals by the 1970`s and his unusual passing away may be part of a more sinister plan to consolidate the African Mineral Cartel, as with the passing away of Tiny Rowland. It may have been Rowland who facilitated Glazer into the British Establishment, but it was Glazer who put Rowland in business. The Glazers Brother’s Empire remains a silent corner stone of Southern African History, which remains unrecorded and opaque from the public except for the Glazer Kidnapping ransom in 1969(The highest paid ransom in history at the time). Glazer’s wife Etty was sending faxes to Israel ,when South Africa was threatened. This is the year that Glazers negotiation with Botswana Government began which led to the Feb 1970 Agreement that opened up Botswana mining. The very prize was the Botswana mineral potential, already identified by the World Bank. If the above is to be believed, then the acquisition trail in the 1950`s is of particular relevance to the mining & industrial consolidation in Southern Africa today. The reconstruction of the Glazer Brother’s history in Southern Africa and internationally, remains the significance of the "Entry Point" and matrix of intellectual property that will provide an understanding of what is happening in Southern Africa and particularily the current review of mineral interests in the DRC. There is a grey area in South African history during the TRC hearings not disclosed in the public interest between1970-1984 and thereafter to 1994.During 1970-1984, Glazer was a player in the larger globalization process and the bridge for the SA Government and British establishment to include Rothschild Asset Management and investment in Lion Group from 1985. Glazer passed away 17 July1984 and in the third quarter of 1984, the South African rand, until then a strong and stable currency, lost nearly 13% of its value against the British pound and 19% of its value against the US dollar. This was by far the largest fall in the SA Rand’s value since 1972. (Prior to 1972 exchange rates were fixed against the dollar.) In the 50 quarter-year periods from the first-quarter 1972 up to and including the second-quarter 1984, the rand had only lost value (quarter-on-quarter) against the British pound 24 times. This reflects a stable currency with the number of times it increased in value being almost the same as the number of times it decreased in value (26 vs. 24). It should be noted too that this was during the years of economic sanctions against the apartheid regime, although as will be shown, many European and American banks still made millions of dollars worth of loans to the South African government during this time. From third-quarter 1984 up to and including fourth-quarter 2002, the rand increased in value against the British pound (quarter-on-quarter) only 16 times. In other words its trend was dramatically downwards, decreasing (quarter-on-quarter) 58 times, or in 78% of the periods in question. There is a new generation of South Africans born since the time of the UNION; generations which have shouldered their father’s or grand father’s responsibilities and think they are heavier than they used to be-they might well be right. The history of an era in which South Africa came of age and grew in stature will stir up events of the past thirty years ago, that influence our destiny. In some African quarters, the two ‘world wars’ are considered little more than European wars for world dominance- which to some degree they were.” This must be measured, however, against the tendency to excise the colonized from history. This plays down the contribution of previously colonized people to the making of the modern world and oppressive forces of every kind. I conclude with this quote: ‘Oh, what a tangled web we weave, when first we practice to deceive!’ - Sir Walter Scott.
×