THE WEALTHIEST NATION OF POOR PEOPLE.
South Africans, you need to start understanding this reality clearly. YOU are the wealthiest nation on the planet! The wealthiest nation as measured by the mineral resources mined, sold on the world market, those still remaining in reserve secured by investment and futures contracts.
You are also the wealthiest nation by capital returns this nation has given to the world. With the Johannesburg Stock Exchange being the best performing stock exchange in the world, with the highest real rate of return for the past 117yrs.
In other words, all the buildings you see rising in Sandton and through out the country today. All the investment in infrastructure, roads, malls and trains are all made possible by your resources and buying power.
The money investors have to invest in your country was debt that came into existence because of the labor, land, minerals under the ground and buying power of your people.
I can’t stress this enough: YOU are a fucking wealthy nation South Africa. Richer than Dubai and Saudi Arabia when using the above criteria of measurement.
Albeit, you are one of the most indebted societies in the world, with household debt standing at 71.9% of gross income against a growing poverty rate of 56% of citizens living under the poverty line in the richest nation on earth.
By comparison Saudi Arabia and United Arab Emirate have some of the lowest debt in the world because their nations are run by revenues generated from charging businesses a premium to exploit their resources and markets.
This is achieved by them offering costly business licenses, charging royalties and high taxes on oil companies, foreign banks, hotels, alcohol purchases and real estate.
Both nations have less than 1% poverty because of the ability of their governments to generate national income from their oil for the benefit of their citizens.
Yet, South Africa has given the world more gold (54% of all the gold in the world) alone to the world than the oil given to the world by the UAE. The resources are being exploited and depleted fast, with little of the surplus coming to you or being saved in a national sovereign fund for the future.
In the same period, you have failed to use the proceeds of the disappearing resources to procure education, skills, knowledge or technology to leapfrog the nation into the third industrial era.
Instead you have lost companies like Sasol and their Fischer Tropsch technology which you paid dearly for with your labor, resources and taxes for decades under apartheid. Now you are about to lose the world’s ninth biggest electricity utility to western bankers because such a rich nation can’t afford to maintain its electricity generation infrastructure. So where is the wealth going?
Why are you not seeing the benefits of the wealth of the nation in savings, new local businesses, infrastructure and services for the people as they do in Dubai or Saudi Arabia?
Why is Johannesburg not growing in sophistication and wealth like Dubai? Why does the nation not have savings and require credit rating to borrow money to develop, instead of being run by surpluses generated from the resources of the nation from mining royalties and taxation of mining companies, foreign banks, property owners, alcohol and hotels?
In Dubai taxes on oil companies can be as high as 80%? Alcohol carries a 50% tax premium, while businesses pay very high registration fees and annual renewal fees for the privilege of doing business in Dubai.
On the other hand hotels, casinos, real estate owners owners and luxury apartments pay high municipal fees and taxes. Ensuring that anyone making money from Dubai’s economy pays the citizens of Dubai for the privilege of exploiting the oil and resultant market.
In turn Emiratis benefit from the savings generated and they use it to educate its citizens and procure technology that has been used to industrialize their economy in preparation for an era without oil.
Why don’t you have $1tril national sovereign fund set aside for your nation as these two nations have, for when the mineral resources run out? Is it because of Zuma?
No! It’s because of white monopoly capital vampirism, systematic looting that’s taking place and has been happening since SA inc began in 1860, that keeps draining all the surplus in this economy to Europe.
Even your remaining 10yrs if iron ore, 30yrs of gold, 209 of high sulphur coal which most industrialized countries no longer buy and 190yrs of platinum are not yours. They are already secured by western owned futures contracts while you don’t determine their market price.
Why else would Nigeria that discovered crude oil just 60yrs ago, with no notable financial markets, industry, farming or energy sector have more billionaires than SA inc, which has given the world the most gold, diamonds, platinum, chrome, uranium and many other resources over the past 150yrs?
Mzansi, wake up and start understanding what’s going on here and realize that the media you depend on is owned by white monopoly capital. They are keeping you occupied on non-issues, Zuma, Gupta, EFF, while looting you dry.
Cyril is here to fulfill the establishment of the new One World [digital] Government, which will come into effect 2024. Soon those of you middle class types working nice jobs are going to be replaced by machines, computers and software in your accounting, legal, medical, IT programming, engineering, advertising, administration, management, actuarial jobs.
You will lose the house, the car and the clothes but it will be too late to FIGHT because the security of the day will be drones, robots and AI.......WAKE UP!!!!!