Here are the latest items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on South Africa’s new President, Cyril Ramaphosa.
Global Economy (President Cyril Ramaphosa):
South Africa’s incompetent president Jacob Zuma was recently forced out of office. That would normally come as great news. But the bad news is that Zuma was just replaced by Cyril Ramaphosa. The New Guy is a hard core leftist who has repeatedly gone on record as in favor of forced land redistribution without compensation. That is exactly what Zimbabwe’s Robert Mugabe did, with disastrous results. This does not bode well for crop farmers, cattle farmers (ranchers), game farmers, or miners in South Africa! Nor does it bode well for the future of the South African Rand, as a currency. (Astute traders are probably already shorting the Rand.) Keep in mind that South Africa’s population is almost four times larger than that of Zimbabwe. So we may see human suffering on a grand scale, under Cyril Ramaphosa.
A Historical Footnote: As with most other ANC leaders, Cyril Ramaphosa is a historical revisionist who ignores the fact that the region was largely uninhabited when French Hugenot and Dutch immigrants arrived in the 1600s. Most of the current tribes originated in Central Africa and migrated south toward the Cape later, because of the pressure of inter-tribal wars. (The Zulu tribe, for example, originated well north of the Lebombo Mountains.) South African historical revisionists like Ramaphosa demand that developed farmland be “returned” to tribes who never possessed it. If any natives could make a legitimate “prior claim”, it would be the scattered Khoekhoe (including the Nama) and San tribesmen. They are now minority tribes that are poorly treated by the ANC. The fact is that the various Bantu speaking tribes settled in most of what is now South Africa after the Dutch Afrikaaners had arrived.
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In Colombia Border Town, Desperate Venezuelans Sell Hair to Survive. (Thanks to Scott R. for the link.)
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Reader D.S.V. spotted this: ‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far
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