Capital flowing out of South Africa's equity and bond markets

Supervan II said:
Relatives overseas?
1. Dump all funds in your current/savings account;
2.. Open bank account in selected country;
3. Buy plane ticket (and take maximum allowance in traveller cheques);
4. Swipe card for every single expense that relative would normally incur, eg school fees, groceries, booze, car maintenance, entertainment, etc.
5. Relative reimburses all your payments into above-mentioned account;
6. Return home with very depleted bank account

... says a friend ...
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No dont do this... Just use your SDA and the extra thats already R1m to R10m per annum per person with little effort. If you have more than that, you dont need this thread.

Krugerrands are not really useful in taking money out either since you havent takem anything out of SA by buying them, and you have a serious issue getting them on an airplane. Besides the top of the annual allowance is already more capital exported than I can carry in Krugerrands... If you just want to hedge the rand but keep money in SA then there are lots of options, gold being just one small option in a massive pool.
 
TEXTILE GUY said:
Be carful saying stuff like that - got my ass kicked for suggesting that a while ago.
But ..... yeah. Its a different world out of SA.
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I wouldn't worry too much about others opinions on an anonymous Internet forum. If you want to go, go. If not, stay. Or debate/troll on MBB as long as you have energy :p
 
Has anyone predicted 1000 rands to a dollar yet?
 
ShaunSA said:
Is that when you plan to cut and run back?
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Irrespective of whatever, hoping to be back after 15-17 years. :) SA is very expensive in general and we won't be able to afford it after retirement.
 
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rvZA said:
Only one problem for all of us holding bank accounts abroad, whether we live in SA or abroad. If the ANC pulls funny stunts and get sanctioned we may end up on the blacklist and no South African national may hold these accounts. Like Zimbabweans, Venezuelans, Russians and more. All accounts be closed. The only permanent solution is to start working towards new citizenship abroad.
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Also hugs my Irish passport :sneaky:
 
surface said:
Irrespective of whatever, hoping to be back after 15-17 years. :) SA is very expensive in general and we won't be able to afford it after retirement.
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Ahahaha! If entropy is mixed with scorched earth for 15-17 years, it will become dirt cheap around here.

You may find a lack of variety in amenities when you eventually return.
 
To be honest.

Part of the JSE has done absolutely terrible. We also cant trust auditing firms like before, as many has been fingered in corrupt activities.
 
Supervan II said:
Relatives overseas?
1. Dump all funds in your current/savings account;
2.. Open bank account in selected country;
3. Buy plane ticket (and take maximum allowance in traveller cheques);
4. Swipe card for every single expense that relative would normally incur, eg school fees, groceries, booze, car maintenance, entertainment, etc.
5. Relative reimburses all your payments into above-mentioned account;
6. Return home with very depleted bank account

... says a friend ...
Click to expand...
Open a foreign account via one of the big banks. There are isle of man accounts, guernsey and a few others.

WorldRemit is cheapest to transfer it, and its pretty quick

We actually want to sell some crispy $100 bills if anyone is interested.
 
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