Banks caught amid EWC disaster

Wonder what a loaf of bread will cost after EWC.

R80 000.00?

If anything, one should not underestimate the Dutchmen and their collective wisdom in the farming sector. Without which, we all will starve or kill each other in order not to.

Food security may possibly be the saving grace at the end of the day. Wishful, but not hopeful.
 
newby_investor said:
The keyword here is without compensation.

Homes have already been expropriated - I know a guy who used to live where the Centurion Gautrain station now is. He was paid roughly a market-related value for his house though.

The constitution as it currently stands does permit zero compensation if it's in the public interest, and the proposed bill basically explicitly hands this power to the judiciary to determine whether or not it is the public interest. My personal feeling is that if it would leave the home-owner homeless and without means to pay his debts, then the court wouldn't permit zero compensation.

Perhaps I'm naive, but I do think at least a little bit of sanity will prevail.
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You might want to read the updated bill that removes the power from the judiciary and places it in the hands of the ANC.
 
Crabby said:
You might want to read the updated bill that removes the power from the judiciary and places it in the hands of the ANC.
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The thing is - as far as I can make out - the EFF are refusing to support this change. Without the EFF, it's difficult to see how the ANC gets two-thirds.
 
Chris_the_Brit said:
The thing is - as far as I can make out - the EFF are refusing to support this change. Without the EFF, it's difficult to see how the ANC gets two-thirds.
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They are not refusing, this is for public eye blind. This is their way of demanding a bigger piece of the pie that will be distributed behind closed door... /tinfoil hat off
 
newby_investor said:
The thing is though, that if the bank doesn't operate within the bounds of the law, the government can take away its banking licence pretty quickly, and there goes an entire business.

Government would just need to make an example of one bank, and the rest would fall in line pretty quickly.
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It would be in line with nationalising the banks as per the tripartite alliance national democratic revolution & freedom charter documents the gov uses as blueprints, it's taking time but we're on track.
 
thestaggy said:
It's obvious what will happen; the forcibly-removed owner will still be on the line for the debt.

There is simply no way the banks write the debt off and government ain't paying either.

And then at the end of the day the banks will still be hit hard when the forcibly-removed owners start defaulting.

EWC will cripple the banks and sink the economy. But you can't tell the ANC, EFF and their horde of zombie supporters that.
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But but but...surely the white man always have loadsa money right? :rolleyes: LOL.
 
Government has commercial bank accounts that turn over huge amonuts of revenue-generating profits for banks.
Think of the public wage bill as one example. The interest they make for the hours that money sits in transfer generates massive interest for banks in overnight investment schemes of their own.

All banks will have to oppose this in chorus and none must sing off the score sheet to exert pressure.
Otherwise, gov will simply take its business to a bank that will play along.
Or, the government will simply create a National Bank and bypass all the pvt commercial banks.

Banks are up against the wall on this issue. Will they take the knock and scrap the debt on the farms, or will they risk losing licences and government transactions in the future?
 
I also dont think they'll expropriate people's homes - it didn't happen in Zim either.
They can justify expropriating land, and will still get some international support, specifically from the (far) left - But exprorpriating homes would be too much of a human rights issue to get away with, and would most likely cause international intervention - My thoughts, so could obviously be completely wrong
 
Tman* said:
Umm, its not like paying for a cool drink mate;

A bond payment is probably the biggest debit order to go off on any home owners bank account each month. Here is a senario for you:

A: keep paying bond while an ANC comrade is living in your home, and you live on the streets

B: stop paying bond, use funds for alternate accommodation

its not about "refusal" or "willingness", its about survival.
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And they also need to start moving funds into their children's accounts or people they can trust so that the banks can't get their hands on the money in any way.
 
SoldierMan said:
Wait, how many farms are we expecting to be EWC'd? I mean the top banks are pretty well off, surely they can take the hit?
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LOL. Not sure if you're smoking a joint or just purely clueless about this all?!
The majority of farms in this country are still bonded. The other day there was an article with the total value of farm bonds in this country and it was several trillion Rand. Not million. Not billion. TRILLION!!!!

And yes, the banks would be able to afford it...in your wildest dumbass dreams...

Farkit...so many dumb and ignorant people in this country... Pisses me off .
 
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ShaneE said:
I also dont think they'll expropriate people's homes - it didn't happen in Zim either.
They can justify expropriating land, and will still get some international support, specifically from the (far) left - But exprorpriating homes would be too much of a human rights issue to get away with, and would most likely cause international intervention - My thoughts, so could obviously be completely wrong
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No at first they wont. Duh.
But as the AnCancer spreads and the country gets deeper into the sh!thole and the money for the Cadres dries up they will explore new avenues to (1) first keep the Cadres motivated and (2) keep the voters voting for them... So you can bet your bottom dollar that the next thing after unused land will be working farms...then holiday houses...and so it will go down the line of greed...
 
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ShaneE said:
I also dont think they'll expropriate people's homes - it didn't happen in Zim either.
They can justify expropriating land, and will still get some international support, specifically from the (far) left - But exprorpriating homes would be too much of a human rights issue to get away with, and would most likely cause international intervention - My thoughts, so could obviously be completely wrong
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Don't be so sure. A desperate African political organisation clinging to power is capable of genocide. What would distinguish the ANC in desperation under similar circumstances?

You would be foolish in believing the ANC are proposing this law for the greater good.
 
xeslaro said:
Don't be so sure. A desperate African political organisation clinging to power is capable of genocide. What would distinguish the ANC in desperation under similar circumstances?

You would be foolish in believing the ANC are proposing this law for the greater good.
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ESPECIALLY if they're targeting properties owned by THE MAIN ENEMY
 
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