Monday, February 01, 2010

Don't Worry: the Chinese are Coming.

I propose a new rule: if Foolius mentions mines again, he should be thrown down one.

The youth wing of the ruling ANC reiterated on Monday that it would push for the nationalisation of local industries starting with mines, saying investors afraid of the process were not welcome.

ANC Youth League leader Julius Malema has been one of the most vocal campaigners for a more leftist economic policy under President Jacob Zuma, demanding among other issues that the state should assume majority ownership of mines. [..and yet, not of Malema's houses and cars]

The country's mines minister said last year that South Africa would not nationalise mines, although the African national Congress said it would allow debate on nationalisation.

South Africa is the world's biggest producer of platinum and one of the top producers of gold [but not for long, if JM gets his way], although the influence of mining on GDP has declined, particularly as gold reserves become exhausted.

Malema said the youth movement had drafted proposals to be presented to the ANC later this year, including amendments to the mineral and petroleum resources development act "wherein the state should own not less than 60 percent of the shares".

"Our position is that banks are going to be nationalised [!!] (but) we want to start first with the mines. Our position is inspired by the Freedom Charter," Malema told a media briefing.

The Freedom Charter was adopted in 1955 by the ANC and parties representing South Africans marginalised under apartheid. [and, no doubt, the Kremlin helped with some of the big words]

"If there is an investor who is afraid of our restructuring, they are not welcome," Malema said.

In a statement, the youth league said nationalisation should be accompanied by a thorough transformation of state-owned enterprises, adding that it would involve expropriation "with or without compensation".

The comments are likely to further unnerve investors already worried that Zuma could give in to pressure from labour union and communist allies who helped him to power last year and are demanding a swing to the left, away from existing pro-business policies, as payback. [it's all about back-scratching, see, not about what's good for the country]

"If any investor leaves here, other investors are going to come," Malema said on Monday. "Investors must be aware we have a strong communist friend China... They will invest here, they will mine here." [they sure will, JM, and try looking for handouts from them...]

Local media reported last month that top ANC officials were pushing for the state to take over ownership of South Africa's central bank, one of the few in the world to still be owned by private shareholders.

Zuma said in a TV interview last month that talk about debating controversial economic policy points between the ANC and its allies should not worry investors because nothing has been decided about policy.

Zuma would not say what his personal position is on nationalisation, only that the matter has not been discussed widely by the alliance. - Reuters

5 Opinion(s):

Anonymous said...

Now they're also hinting at the banks being nationalised! Haha. That will be the ultimate death of SA - all hope will be lost. The ANC already owns the rights to the mineral wealth; they then sell these rights to the mine company's; when the company's sell the minerals they pay a tax to the ANC. How much more of the pie do they want????

Anonymous said...

The last person who tried to go against big money was Verwoed. We know what hapopened to him.

Anonymous said...

I´m with Julius Malema on this one. Like me, he is pro his own race group on every subject, and is a mega racist, just as I am. So you could say we share the same platform, only, at opposite ends.
I say, GO FOR IT JULIUS. Go get the mines, and the banks, and anything else you can steal from the elite (who aren´t white, but you don´t know that, being the stupid kaffir you are) group who control all of those things. You would be doing the white man a great big favour. We want to see the great kaffir state of Arseania crumble and fall down the shit hole we always said you would disappear into, and while that will happen anyway, this should speed up the process quite considerably.
The sooner the shit hits the fan, the sooner we can start establishing a white state within the borders of the existing state.
So, you have my blessing boy.

Anonymous said...

This statement is completely false:

"Local media reported last month that top ANC officials were pushing for the state to take over ownership of South Africa's central bank, one of the few in the world to still be owned by private shareholders."

...because most central banks (Europe, USA) are private banks and only a handful of banks remain state owned. (China, Iran, Korea, Russia)

Anonymous said...

I'm pretty sure that the white homeland that will be created soon, will encompass the Northwest and the sections of the Freestate provinces, because this is where the resources that is owned by the Elites are located.

The elites are not going to allow the boons to steal what they have worked for over 200 years to achieve.

the elites better wake up and REALIZE that the boons are going to try. They better wake up and realize that the mines WILL be nationalized. It IS going to happen. They have to face this fact.

They have to seriously investigate scenarios in which they can hang on to their wealth.

Perhaps someone should explain to the elites that the only way they will be able to hang on to their wealth, is to create a white homeland for the white South Africans which would encompass the mineral fields owned by the Elites.

The Elites must face the music and accept that their agenda as planned for South Africa WILL fail.
It is time for plant B.

The only way for them to hang on to their wealth is to re-create the systems that protect it and that can only happen in a first world country run by whites.