Did South Africa's New President Just Guarantee An Imminent Banking Crisis?

Authored by Simon Black via SovereignMan.com,

Week before last, I told you about how the brand-new President of South Africa, Cyril Ramaphosa, made an impassioned speech calling for the confiscation of real estate from white land owners.

It was a pretty remarkable thing to say during what was literally his first week in office.

You’d think the new president would take the opportunity to address more immediate, more critical issues– for example, the fact that Cape Town is about to run out of water.

I’m serious.

Cape Town, the second largest city in South Africa (and the most well-developed on the African continent) is about to become the world’s first major city to run out of water.

The city is experiencing its worst drought in a century, one that has dragged on for more than three years. And its various dams and reservoirs are at historically low levels.

Local residents are already being rationed, including having their showers limited to two minutes.

But even with the rationing, Cape Town is still just weeks away from running out of water.

You’d think that would be at the top of the government’s list, given that their own idiotic policies caused this problem to begin with.

But no.

Social Justice has once again won the day over common sense. So they’re prioritizing the confiscation of white-owned land over critical water supply needs.

A few days ago, they took this a step further and actually passed a law authorizing the expropriation of land without compensation.

Their next move is to form an official committee to manage the process.

Now, South Africa obviously has a painful history regarding race.

And this issue of land ownership goes all the way back to the earliest European settlers who took land from the natives– something that President Ramaphosa called “original sin.”

The government’s objective is to correct this centuries-old injustice by taking land away from white owners and giving it back to its ‘original’ owners… ostensibly the descendants of native tribes.

But here’s where things become completely ridiculous. Let me give you a hypothetical example…

Let’s say a white landowner has a large property in eastern South Africa.

Even if he’s only owned the land for six months, he’s still going to be blamed for four centuries of imperialism… so his land will be confiscated by the government.

That sounds like a nice dose of justice!

But who will become the new owner?

One of the dominant tribes in eastern South Africa is the Zulu people. So perhaps the South African government will carve up the land and give tiny parcels to members of the Zulu tribe.

But then again… the Zulu tribe conquered that region centuries ago after a bloody war with the Ndwande tribe.

So perhaps the government should give the land to the descendants of the Ndwande instead.

Except that the Ndwande had conquered the area from the Mthethwa Empire, who in turn had conquered it from the Pedi tribe (of which Julius Malema, another of South Africa’s political hot-heads, is a member).

Even the most die-hard Social Justice Warrior whose heart soars at the prospect of confiscating land from white people has to acknowledge the absurdity of stealing property from the descendants of one conqueror and giving it to the descendants of another conqueror.

And, even if it were possible to accurately determine the ‘rightful’ owners of the land, and even if the prospect of forced redistribution were a good idea, can we really trust one of the most corrupt governments in the world to fairly and transparently execute the program?

Or is there just a teeny, tiny possibility that maybe, just maybe, all this confiscated land will end up being owned by government cronies?

Another important point is that a lot of this land that the government wants to confiscate probably has quite a bit of bank debt.

Imagine – you just bought a farm for, say, 50 million rand (that’s about USD $3 million). And in order to do so, you took out a hefty loan from a South African bank.

Now the government comes along and steals your property.

Are you seriously going to keep paying the loan?

Of course not.

This means that the banks are going to be stuck with massive defaults and bad debts, leading to a wave of bank failures.

So in their crusade to bring Social Justice to South Africa, the government is effectively engineering a banking crisis in their country.

This is criminally stupid behavior that puts South Africa on the same path that Zimbabwe followed in the late 1990s.

And as I told you a few weeks ago, when I first reported about this land confiscation in South Africa, anyone who is dumb enough to follow Zimbabwe’s economic model absolutely deserves what they’re going to get.

And to continue learning how to ensure you thrive no matter what happens next in the world, I encourage you to download our free Perfect Plan B Guide.

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Dickweed Wang strannick Mon, 03/05/2018 - 19:31 Permalink

They tried this same kind of tactic in another south African country (Zaire??) and the first thing the new "land owners" did was go in and rip up all of the copper irrigation piping to sell for the scrap value, thereby rendering the farmland virtually useless and fomenting a food crisis in that country.  Just watch, the exact same thing will happen this time and just like clockwork you'll see the South African government whining to the rest of the world "help feed us!".  I say fuck 'em if that happens.

In reply to by strannick

Burnt To A Crisp Dickweed Wang Mon, 03/05/2018 - 23:06 Permalink

Working in Zaire's copper belt in 1980 all of these abandoned white farms were completely over grown with only the concrete farm house walls still standing minus the roof. In Zaire they have two seasons; the wet season, and the dry dusty season. During the rainy season you can set your watch to when it will rain each day! The farm irrigation pipes were used during the dry season to grow food. Even back then Zaire had to import food from communist eastern Europe and South Africa to feed itself! There were no big game animals nor very much small game either! I never saw any small birds of any kind. A lion would have starved to death! The largest wild game I saw were several wild turkeys. Once in a while a native would hold up a dead water rat by the side of the road in case we wanted fresh meat! Every kid carried a sling shot in his back pocket. If it moved they shot it! The best fresh meat was frog legs! I remember the kitchen staff asking us if we wanted a half chicken or a whole chicken for supper. We used to joke that it didn't matter as there was no meat on either side! The only thing that was half decent was the beer appropriately called "Simba" or lion beer. The once paved roads were in total decay. There were no police only the soldiers and bandits. Not sure who were worst! Every bridge had soldiers collecting tolls! In Zaire corruption took on a whole different meaning! Probably the worst place in the world I have ever been! Yes, much worst than 1983 Siberia!

In reply to by Dickweed Wang

Sudden Debt IH8OBAMA Mon, 03/05/2018 - 18:46 Permalink

well, they sold black slaves to white slave traders back in the day and made quite a lot of money.

First they attacked the villages, killed of half the tribe, raped all the woman and children and those who survived the brutal massacres of the blacks where sold to the whites.


I hope this clears it up that only the white people are to blame of course.

and till this day, not a single black person in America isn't crying himself to sleep why o why he wasn't born and still lived in Africa...

But only those that are younger then 43 years old because the average age where people die in Africa is 43 years old.

and let's just forget that only 0,2% of the US population bought black slaves from the black slave traders so it's only obivious these idiots should blame every white guy for this 100 plus years later....


they could be eating bugs and other nasty creatures if they where still in Africa...

And why isn't it ever mentioned in a conversation that all slave traders where muslims???



In reply to by IH8OBAMA

stant thisandthat Mon, 03/05/2018 - 18:41 Permalink

i have  a customer whos from  there. married into big horse farm $ here. she lost her mother horribly over there to gangs that raided their farm . killedd them all. she recently sold her family 5000 acre farm there. when i asked her husband if she was upset over selling he said no. the land there is crap. hard  to farm without generations of skill. here we can put 15 cows or ten horses on a  acre. there 15+ acres for 1

In reply to by thisandthat

SamAdams DownWithYogaPants Mon, 03/05/2018 - 18:26 Permalink

Destroy productive farming = starving populace

Expropriate = no foreign investment

Combination of above = loss of confidence

Loss of Conf = massive inflation

Zimbabwe 2.0

Stupid is as stupid does

Yes, we should offer asylum.  At least we would be rewarded with people who held down jobs and encouraged civility rather than the criminality we typically receive.  

In reply to by DownWithYogaPants

Cloud9.5 eclectic syncretist Mon, 03/05/2018 - 19:21 Permalink

Maxine is playing to her idiot base.  I want reparations.   The Aztec in me wants Mexico back.  The Seminole in me wants Florida back and the cracker in me wants the South back.  My black kids used to play this blame reparations game on me.  I asked them if their parents owned their homes.  Some of them did.  I told them that under the law, stolen property had to be returned to its lawful owner.  The Seminoles never surrendered to the United States and forfeited their land. Florida legally and morally belongs to the Seminoles.  Unless every black in Florida gets off his high horse and deeds his property to the first Seminole he meets, he has no moral claim to reparations from whites.

We did not even get into the fact that blacks owned slaves and would have to receive reparations from some of their own.

In reply to by eclectic syncretist

BidnessMan Cloud9.5 Mon, 03/05/2018 - 20:40 Permalink

Yep - many of my ancestors starved to death in Ireland in the famine back in the 1840s.  Irish had no value - if they died just go to the docks and get more off the next coffin ship from Galway.  My grandparents all immigrated to the US in the early 1900's when there were still NINA notices in job ads - "No Irish Need Apply". 

So don't look to me for slavery reparations.  See those Boston Brahmin Mayflower old money families.      

In reply to by Cloud9.5

Herd Redirecti… Jethro Mon, 03/05/2018 - 18:27 Permalink

While in most of the world, the Cold War was just that, cold, in Africa it was in fact a hot war.

And the Communists won.  The West helped pressure the apartheid government into handing over power to the Communist ANC.  They were smart about slowly implementing their Communist land reforms, but they obviously decided that they have waited long enough, and their cronies now need to be paid for years of kickbacks and bribes to election campaigns.

Nelson Mandela was a Communist terrorist, and he was sold to the West as some sort of peacemaker and philosopher.

In reply to by Jethro

Snaffew HRH of Aquitaine 2.0 Mon, 03/05/2018 - 18:04 Permalink

cue Sally Struthers and the Christian Children's Fund.  This organization pulls away all contraception, encourages procreation to a mass of starving people, and gives them just enough food to stay alive and keep fucking.  The CCF does nothing but exacerbate the problem while they clean up in administration costs as 99.9 percent of all charities do.  There's my rant off of the starving children with flies on their mouth image---my apologies

In reply to by HRH of Aquitaine 2.0