We are being intentionally and systematically mislead about the nature of money and the role of central and commercial banks in the monetary system. We are led to believe by central bankers and by textbooks that central banks are govt institutions acting in the public interest...

“The study of money, above all over fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.” John K. Galbraith.

Anyway...

The truth is the historical origin of reserve banks has more to do with the desire of private bankers to control and coordinate the process of money creation than any notion of country duty...

Central bankers and textbooks like to gloss over the fact that most money is created in the private sector. Whenever this fact comes up it is explained away in distorted and intentionally complicated ways.

In truth, reserve banks coordinate private sector money creation and act as "lenders of last resort for commercial banks". In short, their main duty is to create money to bailout banks whenever the banks run into trouble from the daily act of creating money out of nothing

Central bankers claim to promote the interest of the public. For instance the SA Reserve Bank claims it is "required to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa"...

However their persistent desire to blur the role of commercial banks in the process of money creation coupled with their distorted account of central bank history, one cannot help but be suspicious of their motives.

Whenever central bankers are asked why they, and not the govt should be charged with creating money and then charge interest on it, they claim it is because if govt gets the power to create money from nothing (as central banks do) it will be tempted to create too much money...

This is what textbooks teach. The goal is clear and explicit. Academia and bankers want to drive home the lesson that you cannot entrust government with managing the monetary system and that you therefore have to guard the central banks’ independence from government.

Lectures on money and inflation keep the conversation about money creation by commercial banks to a minimum, if it is even addressed at all. The impression been given is that only the Reserve Bank issues money - under govt supervision - and only for the benefit of the State.

Central bankers, politicians, economists and institutions of higher learning rarely, if ever, make it clear that commercial banks create money, for themselves. Instead you will hear of "regular consultations" between the SARB & minister of finance

Well, the truth is, only a fraction of the money which circulates in the economy consists in cash issued by the central banks anyway. We make most of our payments without using any government issued banknotes...

We pay by transferring deposits through commercial banks and we receive our salaries in the form of deposits in the bank, i.e. in electronic money, created by commercial banks.

The point here is, even if the Reserve Bank were to be "nationalised", the bulk of the money creation would still reside with privately-owned commercial banks. Therefore, what South Africa needs is to repeal of Sections 223-225 of the Constitution + the SARB Act, Act 90 of 1989:

The author of Sections 223-225 of the Constitution, Dr Mario Oriani-Ambrosini conceded that at that time he had concerns when drafting it and in retrospect has agreed that he made an error of judgement and that as a result thereof the Constitution is a fatally flawed document!

South Africa will never be a sovereign state until it takes control of all it's money away from private hands and free itself from perpetual debt slavery