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.
Precious Metals:
Forget the Stock Market. Investors Are Trading in Gold for Bitcoin
Stocks:
European shares recoup losses as miners, financials rise
Commodities:
Offshore Oil Is Poised For Significant Growth
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.