Government must look at using pension funds to generate growth: Ramaphosa

Hellhound105

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Jun 5, 2018
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2,946
Where are the members who were singing this guy's praises when he was elected when those of us who are not gullible idiots predicted that it would be business as usual.
Wouldnt mind a list - I think someone took me on when I said I'd rather take the evil you know than the evil you dont
 

Vrotappel

Bulls fan
Joined
Feb 22, 2005
Messages
17,074
They will not stop until everything is destroyed.

We know what is wrong with Eskom. We know what to do to fix Eskom.

We'd rather protect 30 000 jobs and destroy the future of 65 000 000.

Viva ANC.... Viva!
 

SeRpEnT

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Joined
Feb 15, 2008
Messages
4,073
They will not stop until everything is destroyed.

We know what is wrong with Eskom. We know what to do to fix Eskom.

We'd rather protect 30 000 jobs and destroy the future of 65 000 000.

Viva ANC.... Viva!
Don't forget the future guaranteed looting opportunities for the top 300 cadre pigs ...
 

Mephisto_Helix

Resident Postwhore
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Jan 29, 2008
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27,401
Get your money out now while/if you can ...... so glad the pigs aren't getting mine. Greedy bastards :mad:
 

Chris_the_Brit

High Tory
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Mar 6, 2004
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26,286
Just emailed my RF to lower my contributions to the legally lowest amount ASAP. My non-pension investments have been offshore for a long time...
 

Sarg3_ZN

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May 17, 2010
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250
Not sure how I can type this slowly so that squirrel will be able to read this and understand, government cannot create growth, all that they can do is create an environment that enables growth. All this is doing is stealing. You need to scrap the AA and BBBEE laws, privatize all the SOE's, fix the education, police and health departments, close our borders and ban unions and all liberation parties.

Then you will start to get growth in about 10 to 15 years.
 

ToxicBunny

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Apr 8, 2006
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I bet Toxic is on that list judged by his knee-jerk comments above... :ROFL:
100% on that list... But I never called him a messiah.. I'm aware that he is our best shot at fixing this country but there are aspects of it that are a long shot.
 

konfab

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Jun 23, 2008
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The best part is that the government employees are the biggest contributors to the pension fund. Government employees have been milking it for decades.

 

konfab

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Jun 23, 2008
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this will now just cause a bull run into other savings vehicles...financial advisors must be getting their collective knickers in a knot at the prospect...
If only there was a savings vehicle that was immune to the shenanigans of governments and their retarded employees, yet still be completely liquid and have easy international usage.
 

Messugga

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Sep 4, 2007
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If only there was a savings vehicle that was immune to the shenanigans of governments and their retarded employees, yet still be completely liquid and have easy international usage.
USD in a foreign account? Gold?
 

akescpt

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Aug 12, 2008
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20,897
If only there was a savings vehicle that was immune to the shenanigans of governments and their retarded employees, yet still be completely liquid and have easy international usage.
I was going the RA route but I’ll do tfsa rather.
 

Bewlen

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Joined
Apr 15, 2016
Messages
435
Cyril, you will be welcome to it. Well, whatever is left of it.
In my circle, no less than 50% of 30-45 year-olds are planning on not being here in 5 years. I would say at least a quarter of them are in active processes to get out. I have lost a dozen friends with their entire families already, to Canada, Australia, Europe, NZ etc. Others are scaling down and selling with a 2-year timeframe, but their ball is rolling. These are the middle-to-upper income households. Say goodbye to the South African middle class. Heck, even the oldies are starting to move!
What I don't get, is the speed at which it is happening. It's like everyone woke up one morning and started to GTFO but I didn't get the memo. One of my friends in the finance industry, even predicted the NHI, prescribed investment and social security fund at least 10 years ago. That was a red flag to him to get out. He heeded it....
 

konfab

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Jun 23, 2008
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USD in a foreign account? Gold?
USD is still subject to the dumb policies of the US and their government. Bernie Sanders could get elected and decide to go on a $16 trillion dollar spending spree that would devalue your money.
Gold is impractical for trading internationally.

The answer is bitcoin.
 

thestaggy

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May 11, 2011
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Don't forget that using the pension funds of others is how this genius businessman made his money in the first place.

In 1996 AMB capital acted as “advisory” to a R2.7 billion broad based empowerment deal in which the National Empowerment Corporation/Consortium (NEC) took a control in Johnnic Holdings Limited. Not only did AMB capital act as advisory but it also raised capital to the value of R2.1 billion for certain members of the National Empowerment Consortium to acquire a controlling stake in Johnnic Holdings Limited (Mutlichoice, Mnet, Hotels and Casinos).

The members of NEC mostly came from the labour unions, its pension funds and is also where most of the capital were raised (Full funding details was never made public). The R2.1 billion was mostly raised out of Labour Unions pension funds. As part of this acquisition, AMB Capital “put forward” Ramaphosa for the position of Chairman to Johnnic holdings. Considering Ramaphosa’s history with labour unions it can been seen why he was needed within the deal structure.

They were using Labour Union member pension funds in equity deals.
 
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