Related - There is a ZAR market here:
- http://bitmarket.eu/market/ZAR
- http://www.bitcoin.co.za
Topic: Predictable wealth transfer in South Africa is afoot (Read 887 times)
The South African government is being intimidated by a right wing hate monger (who is convinced he is a left wing social warrior for justice) and as a result we will probably soon have our mines nationalized. This is one of his many ideas for uplifting poor blacks from white economic oppression, another is bank nationalization.
Since mining companies make up the most of our stock exchange that will probably also lead to initial massive payouts as the government buys up the companies, then a major decline in that market. So goodbye to lots the money held in mutual funds and by the pension funds.
Massive amounts of investment will begin the exodus from our country and lead to a predictable oversupply of Rands (ZAR) and a consequent drop in price. This will have an incredibly inflationary effect on the poor and middle class and will put further pressure on the group that this grand idea was supposed to help. They are of course in this situation due to a whole bunch of other ideas the government has come up with to help them.
Since mining companies make up the most of our stock exchange that will probably also lead to initial massive payouts as the government buys up the companies, then a major decline in that market. So goodbye to lots the money held in mutual funds and by the pension funds.
Massive amounts of investment will begin the exodus from our country and lead to a predictable oversupply of Rands (ZAR) and a consequent drop in price. This will have an incredibly inflationary effect on the poor and middle class and will put further pressure on the group that this grand idea was supposed to help. They are of course in this situation due to a whole bunch of other ideas the government has come up with to help them.
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