South Africa's government has begun seizing land from white farmers, targeting two game farms in the northern province of Limpopo after talks with the owners to buy the properties failed.
While the government says it intends to pay owners, Akkerland Boerdery wanted 200 million rand ($18.7 million) for the land — they’re being offered just 20 million rand ($1.87 million). If this "redistribution of wealth" goes ahead, it would be the first time the state will refuse to pay market value for land. Since the end of apartheid in 1994, the ANC has followed a “willing seller, willing buyer” process to redistribute white-owned farms to blacks.
The South African government is pushing ahead with plans to amend the country’s constitution to allow for the expropriation of land without compensation.
The seizures are intended to push the envelope and the ability of the South African government to take land force-ably under existing laws, which the ruling African National Congress has previously stated is allowable if “in the public interest”.
I don't pretend to understand the hundreds of years of history behind all of this. I do know that taking capital from one group of people and giving it to another through the force of government is just another form of theft and violence. I also know that this same thing was tried in Zimbabwe in the 1990's and today the country's corn production is down nearly 80% from the 1980's and its Wheat production is down even more than that while the rest of Africa continues to increase its farm output. It has nothing to do with skin-color and everything to do with generations of local farming & capital management knowledge that is not instantly transferable.
It also lead to the first 21st century currency hyperinflations of the modern era only to seemingly be outdone by socialist paradise Venezuela this year.
If the government of South Africa charges ahead with these plans, its painfully obvious from an Austrian Economics perspective that this will lead to similar results. It will lead to increased poverty for all people of South Africa and decreased output across all industries as the country spirals into a basket case.
This will also lead to decreased outputs of Precious Metals including Gold and Silver. It will also hit outputs of Platinum, Palladium and Rhodium. This could lead to a spike higher in prices especially in Rhodium and it would be my favorite commodity play here followed closely by Platinum.
Nearly 75% of the worlds supply of Rhodium comes from South Africa (15-20% comes from Russia so its a politically vulnerable supply) On a percentage basis, I think in a basket case scenario, it stands to gain the most.
I am Lord @matthewwarn and I have Stackitis...but there are worse problems to have in life.
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Pretty obvious that the flag has a lot more the due with the subject matter...since its the first time you've chosen to hit me. I'm adding the additional source links you feel that I missed. If you look at all of my posts, I always attach relevant source info...but thanks for knocking this down by $68
Very racist article. Let me tell you why.
Putting seeds in the ground and watering them isn't a difficult job to do. Never was.
I understand that sharing is very hard to do for most of the white population and you will only hear the excuses that black people are to stupid to do the job. In these statements you are saying that all black people are all the same.
Stop pretending to be the super race please.
Your words are coming back to bite you. The white race in South Africa must learn to share then other will follow.
But for now, they are only doing what they think the white race will do.
Why do people have an opinion if you don't know anything about social issues. If I recall, black people were called the scum of society. Now the act like that too.
If I said your children were trash would anyone here like it?
The answer is no because your child will start miss behavior because of how people treated him.
Hate only brings you more hatred.
Look where greed got this people. They going to lose everything because of their greedyness.
I appreciate your opinion even though I disagree with you. Shouting racist at me won't change the cause and effect.
You don't provide any evidence or historical precedent that will change my mind. Large scale farming is very complex and a lot harder than "Putting seeds in the ground and watering them." A 10% change in yield is the difference between a successful farm and one that fails and goes bankrupt. Soil conditions very from farm to farm, drainage varies on the same farm, insect control and remediation are seasonal, soil treatments are different every year and large scale farms are now computerized based on previous yields, drone surveys, satellite and soil sample surveys.
When the European settlers attempted to farm in the "New World" for the first time, they all mostly starved to death because they didn't have local farming knowledge. It has nothing to do with skin color and everything to do with local knowledge and capital management skills.
What's going to happen to the banks that hold all of the debt on these farms? They are going to suffer massive losses as I'm sure the government won't be paying off the loans and this plan will likely trigger a significant banking crises...this is one of the main reasons the ANC is also conflicted about this plan. It very likely won't work, it will make the nation more poor, just like it did in Zimbabwe.
My man, i'm not shouting racist at you. I only am giving my opinion of this article based upon logic.
Im sure you would like to think that these farmers have the upper hand but they are not needed.
All there knowledge is irrelevant and useless. I'm sure you wish white people could be in charge forever.
The fact of the matter is that all the farmer can leave if they want to leave, nobody is crying for them to stay. You and the whole world can cry incompetence for the rest of your life and i think we understand your predigest towards Africans. South Africa got over it.
I'm sure you got a lot to say about the banks, the ANC and crises talks before it all happens.
But what i know about most companies and people in South Africa is that most of them are corrupt. Does matter who runs it, if its white or black, its all the same corrupt people.
Do you believe in God my friend?
Well, sooner or later this unseen force punishers or your own greed leads you to you death.
So you covering for a nation of companies and people that stinks like rotten corrupt shit.
The only why to survive is to do the right thing and nobody is doing that in South Africa, never mind the skin colour.
F*ck history. It isn't a pure science, you just based your opinions on the assuming that all black people are the same.
I'm sure that you can talk about what happened in Zimbabwe and this is what you trying to show me but nobody is believing it because some people know more than you the average human and the rest learn from tv or internet, all halve facts. The game is up, over, good bye, the end, you lose.
Good article about a bad situation.
I wouldn't be surprised if the Rand starts depreciating heavily, we could see a high demand of BTC as a consequence.
Agreed...there is increased demand in Turkey right now for BitCoin as the Lira has taken it on the chin recently
What shop accepts bitcoin?
It actually does not take long to get a decent overview of the history of South Africa. On youtube search "molyneux south africa". Stefan's inteview with Simon Roche is especially good.
And he is the true enlightened one?
Many Afrikaners already left the country to New Zealand and alike. Rough people I heard from a Australian banker ponce.
Soon New Zealand is going to have problems with them
They already do
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A bad situation in Africa. I hope people wake up and stop the injustice. Things just keep getting worse but you can't loose hope that there will be a better tomorrow.
Its very bad here only if you don't live in a Godly manner.
Don't see the Jews leaving here, i wonder why?
good info :)
It appears you do pretty good buying Up-Votes, but is it as good as it looks or do you only come out a little ahead...???
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