South Africa to Expropriate Land from Whites and Nationalize Its Reserve Bank

Wiki
image_pdfimage_print
South Africa: The African National Congress, which is the ruling Communist Party of South Africa, announced its intention to expropriate land from white settlers without compensation.  It also declared that the nation’s ​privately-held Reserve Bank must be wholly owned by the state.  ​These announcements sent the rand, also known as the ZAR, plummeting on the currency exchange.​ -GEG

JOHANNESBURG (Reuters) – South Africa’s ruling African National Congress has adopted a resolution calling for the nationalization of the central bank and land expropriation without compensation, a senior party official said on Wednesday.

Any mention of nationalization in South Africa is enough to spook investors, since left-wing elements of the ANC have also called for mines and banks to be state-owned.

Similarly, land is an emotive issue two decades after the end of apartheid, and the ANC has been under pressure to redress racial disparities in land ownership.

Unlike most central banks in the world, the South African Reserve Bank has been privately owned since it was established in 1921. But its shareholders have no control over monetary policy, financial stability policy or banking regulation.

Following a meeting of party delegates, the head of the ANC’s economic transformation committee, Enoch Godongwana, told reporters changing the ownership of the South African Reserve Bank would not affect its independence.

He said the party had also agreed to initiate amendments to the constitution to achieve land expropriation without compensation, but gave no timeline. He said there would be no illegal occupation of land.

Following the proposal made in July by the ANC at a policy conference to nationalize the bank’s shareholding, South Africa’s Reserve Bank said that changing its shareholding would not affect its mandate, because that mandate is derived from the constitution.

Godongwana said no timeline had been laid down for the plan to acquire the central bank’s shares or for any directives to parliament to change the country’s laws to effect the change.

“No change in the constitution, no change in the Reserve Bank Act,” he said. “We’ve also said it’s not likely to have an impact at all because shareholders in the Reserve Bank do not affect monetary policy in any way.”

Godongwana said the changes would come after “more work” was done to prepare for the bank’s nationalization.

In July, when the party said it would like the central bank to be wholly state-owned, investors were initially worried and knocked the rand.

Read full article here…

Visit our Classified ads.

Check out our Classified ads at the bottom of this page.

Recent stories & commentary

Other

The Rice Experiment Shows that Intentions and Words Have Power

January 17, 2018 Truthstream Media 0

The rice exposed to affectionate human intentions became only slightly discolored with age, while the jar of rice treated with threatening intentions became filled with mold, condensation, and rot. Rice that was completely ignored responded with modest condensation and small spots of mold. Unless there is fraud in this experiment, it indicates that emotions and intent can have a much stronger impact on living things, including us and those around us, than ever imagined possible. […]

Politics

Parts of Affluent California Look Like the Third-World

January 17, 2018 Daily Wire 0

A disturbing video shows thousands (literally) of tents and shacks where homeless people are living along the Santa Ana River Trail in Orange County, an upscale area in California. More than 25% of the nation’s homeless population now lives in California. Most sleep on the streets, under bridges, and tucked away in fields and parks. This video will haunt you. […]

Kakistocracy

Why California Is the Poverty Capital of America

January 17, 2018 LA Times 0

California has the highest poverty rate in the US, based on the cost of housing, food, utilities, and clothing. With 12% of the American population, California is home to about one in four of the nation’s welfare recipients. The welfare state, supported by a massive bureaucracy of 883,000 full-time state and local employees, is incentivized to expand its ‘customer’ base by bringing in more and more welfare recipients, which includes illegal aliens. In short, California is the poverty capital of America because it is ruled by collectivists. […]

Politics

Antifa Professor Admits Carrying Rifle and Chasing James Fields’ Car Before Deadly Crash

January 17, 2018 InfoWars 0

University of North Carolina anthropology professor, Dwayne Dixon, admitted chasing chasing James Alex Fields, Jr. with a rifle, causing Fields to drive into a crowd of other Antifa and Black Lives Matter protesters, resulting in one death and dozens of injuries. The media was quick to brand Field’s actions as terrorism but, according to authorities, Fields expressed remorse and shock after the incident, asking “Are they okay?”, suggesting the tragedy was not intended but a result of fleeing from Professor Dixon and his rifle. […]

Kakistocracy

Twitter Suspended Account of Conservative Congressional Candidate

January 17, 2018 Gateway Pundit 0

Twitter suspended the account of Congressional candidate, Chris DePizzo, after he tweeted that his Democrat rival was a “liberal media darling” who ignores the concerns of his own district. He also said that his opponent’s donors in California and New York were more important to him than his constituents. Clearly, Twitter is no longer just a provider of a channel of communications, it has assumed the role of censor as well – and an extremely biased one at that. […]

Kakistocracy

Google and Facebook Emerge as a Threatening Duopoly over Personal Communication.

January 17, 2018 Fox News 0

Google and Facebook have become a duopoly, capturing 84% of digital revenue worldwide, excluding China. That adds up to 30% of all revenue on the entire planet. The companies have a strong left-collectivist bias and are weaponizing their ideology. Tucker Carlson says the companies are even more powerful than governments. [Congress has the power to regulate them, but backs away partly because politicians fear this power and partly because many of them also are collectivists.] […]

Kakistocracy

Pro-Gun-Control Candidate for Illinois AG Is Robbed at Gunpoint in Spite of Gun-Control Law in Effect

January 16, 2018 Mad World News 1

Aaron Goldstein, a gun-control advocate seeking election as Illinois Attorney General, was robbed at gunpoint by three men who failed to obey the city’s strict gun-control laws. He was in a local park posing for a campaign photo when he came face-to-face with the consequences of gun-control laws. Luckily, no one was harmed. In a bizarre turn of events, Goldstein refused to give a detailed descriptions of his attackers. […]

Kakistocracy

Rumors That Twitter Is Planning To Take Down Trump’s Account

January 16, 2018 InfoWars 0

Jason Fyk says that when Twitter shut down President Trump from its platform for 10 minutes, it was to test public reaction. Twitter may be planning to take down his account permanently. Facebook recently blocked the opportunity for hundreds of thousands of people to make money from their Internet content. Fyk calls for regulations, but can we trust Congress? The problem is far more systemic than that. The solution starts with draining the swamp in schools and government. […]

Kakistocracy

Twitter Employees Are Paid to View Private Sex Messages – and Everything Else

January 16, 2018 Veritas Visuals 0

James O’Keefe of Project Veritas publishes more undercover video of Twitter employees. This time, they reveal that users’ privacy is a joke to them. Engineer Pranay Singh says all content, even if deleted by the user, is permanently stored on Twitter servers.This includes a vast amount of sexually explicit text and photos. Tweets and supposedly private, direct messages (DMs) are analyzed through a machine algorithm that creates a highly personal profile about you and sells it to advertisers who track you on the Internet with cookies. […]

Health

Pennsylvania Lawmaker Seeks to Inform Parents of Vaccine Dangers Before Immunization

January 16, 2018 Personal Liberty 2

Pennsylvania state legislature Senator Mike Folmer is seeking support for a law to require medical professionals to obtain informed consent from parents, which would require that they be told of potential risks associated with the ingredients of vaccines. He also is planning a resolution requesting Congress to repeal the 1986 National Childhood Vaccine Injury Act that shields vaccine makers from liability for vaccine injuries and prevents parents from suing for damages. […]

Cartoon Commentary

Classifieds

For classified advertising rates and terms, click here. The appearance of ads on this site does not signify endorsement by the publisher. We do not attempt to verify the accuracy of statements made therein or vouch for the integrity of advertisers. However, we will investigate complaints from readers and remove any message we find to be misleading or that promotes anything fraudulent, illegal, or unethical.

For Sale

Ten Days at Jekyll Island, a novel by Patrea Patrick, tells the true story of a secret meeting held in November of 1910 on a privately owned resort island, the outcome of which drastically changed the world. It was at this meeting that a banking cartel was forged; a cartel that, three years later, would be issued a government charter to do business as The United States Federal Reserve System. You will discover why secrecy was essential. Based on historical documentation from The Creature from Jekyll Island by G. Edward Griffin. (More)

 


Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)

 


Titanic: A Perfect Crime, a novel by Patrea Patrick, explores little known facts of that famous tragedy and provides jaw-dropping insights to new discoveries that came with the finding of the 100-year-old ship wreck. The book’s scenario of what really happened that fateful night is amazingly consistent with the historical record. No other theory explains so many parts of the mystery. (More)

 

 

 


Leave a Reply

1 Comment on "South Africa to Expropriate Land from Whites and Nationalize Its Reserve Bank"

Notify of
avatar
Sort by:   newest | oldest | most voted
Tom Ball
Guest
With regard to the article about South Africa nationalizing it’s banking system, I am interested to what that means to the Global Cartel that Mr Griffin speaks of. It seems to me that the globalist financiers would DISAPPROVE. What am I missing here? I’m aware that the abolition of apartheid has proved a bane to the white population of South Africa. So am I to assume that the banking institutions there have been in their hands and are to now be transferred to black control? Or has the IMF or World Bank not been a part of this system all… Read more »