ANC eyeing pension assets

Remember when the IMF comes in............and we descend into almost Civil war because they will cut the state workforce to bare bones............that is when the penny will drop................
 
I'm reminded of a quote from Obama that he said to South Africans, "don't be happy if all that you've changed is the colour of the people at the top but nothing else has changed, it's still the same Government", seems fitting, considering prescribed assets was one of the famous legacies implemented by the Nats and now being copied by ANC.
 
ArtyLoop said:
Sadly yes... we have countless examples, all we need to do is look North...
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Yip. Bare handed surgeries, yet people still haven't risen up. Wonder what pushed the people of Egypt over the edge to force a change.
 
So they want to legitimize what they tried (and partially successfully did) with the PIC?

The OPM syndrome - other people's money.
 
TelkomUseless said:
True.

But seeing the State Capture etc should have been a wake up call for the people of SA.
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They're probably trying to plug the hole left by the state capture.

No, I'm not in support of this move due to their management record.
 
Sollie said:
So they want to legitimize what they tried (and partially successfully did) with the PIC?

The OPM syndrome - other people's money.
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Potentially extend their reach beyond the PIC
 
ArtyLoop said:
Sadly yes... we have countless examples, all we need to do is look North...
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But ... this is South Africa!

Unfortunately we don't have the luxury of well to do neighbors south of the border though. Namibia? Don't think so.
 
Glad my money is not available to the standard 'african dream' ...... gtfo the only real option anymore because they steamroll their shyte without any opposition
 
No wonder they are so keen to get their hands on the SARB. For those not following: SA adopted the Twin Peaks Financial Oversight model in 2018.
Twin Peaks has two regulators responsible for various financial oversight - 1) Prudential Authority (SARB) and 2) FSCA Financial Sector Conduct Authority.

PA - "Established within the South African Reserve Bank, the PA will supervise the safety and soundness of all financial institutions. Prudential Authority (PA) which manages prudential risk (financial health) "
Effectively this means the PA is nested in the SARB and will table various regulatory changes to ensure financial institutions adhere to the FSR (Financial Sector Regulation Act) and the upcoming COFI and Financial Inclusion Policies.
So - between the FSCA and the PA, they are able to legislate the terms of the "prescribed assets" and make this ANC stupidity a reality...scary isn't it?
 
So Cyril's (#ProudlyANC) is making sure that everyone in SA will be broke in a few years time.
 
ponder said:
And i suspect they will succeed in their endeavors in the future.
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Probably just wrap it up in a nice message, market it, and it will find acceptance. I suspect you can convince people in this country to jump into fire, you just need to phrase it right.
 
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