The ZAR Exchange Rate Thread

[thestaggy]

Where do you think the rand would be if we were not sabotaged over the previous 9/10-years by the ruling elite? Under R10/$?

 

[The_Right_Honourable_Brit]

Rand was strengthening slightly over the day but slipping back again:

https://m.za.investing.com/currencies/usd-zar

 

[MrGray]

Where do you think the rand would be if we were not sabotaged over the previous 9/10-years by the ruling elite? Under R10/$?

Easily. In fact, I'd say around R5-8/$. This country would have been a powerhouse without race based policies and social engineering. We'd have far less of the problems we have today, far less poverty and unemployment.

 

[d0b33]

Easily. In fact, I'd say around R5-8/$. This country would have been a powerhouse without race based policies and social engineering. We'd have far less of the problems we have today, far less poverty and unemployment.

This is unpopular opinion... but this country was only wealthy because we had gold. Apartheid ended because the gold was not as easily accessible and we could not afford to be isolated. This country was setup to extract the gold and was inevitably going to become worse off without the gold.

 

[MrGray]

This is unpopular opinion... but this country was only wealthy because we had gold. Apartheid ended because the gold was not as easily accessible and we could not afford to be isolated. This country was setup to extract the gold and was inevitably going to become worse off without the gold.

We are so much richer in other metals and minerals that I don't believe that the decline of the gold industry made that much difference. The mining industry has been far more damaged by violent militant unions egged on by political opportunists, and extremely hostile government laws around ownership.

 

[Swa]

This is unpopular opinion... but this country was only wealthy because we had gold. Apartheid ended because the gold was not as easily accessible and we could not afford to be isolated. This country was setup to extract the gold and was inevitably going to become worse off without the gold.

We were at R3 during apartheid. The main difference between now and then is that we had a competent government that was trusted.

 

[johnjm]

We were at R3 during apartheid. The main difference between now and then is that we had a competent government that was trusted.

They appeared competent because only the minority was looked after. Don’t be ignorant. Or stupid. It’s one of the two.

 

[MirageF1]

They appeared competent because only the minority was looked after. Don’t be ignorant. Or stupid. It’s one of the two.

Compared to these bunch of thieving, useless momparas they most certainly were.

 

[Swa]

They appeared competent because only the minority was looked after. Don’t be ignorant. Or stupid. It’s one of the two.

Which is more that the current ones that can only look after themselves.

 

[thestaggy]

This is unpopular opinion... but this country was only wealthy because we had gold. Apartheid ended because the gold was not as easily accessible and we could not afford to be isolated. This country was setup to extract the gold and was inevitably going to become worse off without the gold.

I disagree. The Afrikaners/NP knew they had nowhere else to go, so they built a sustainable country - at least for themselves. World class water and electricity generation; infrastructure in minority areas was of high quality; education system in minority areas was top class; due to sanctions, domestic engineering and technology was heavily invested in (see our arms development and production). This was a platform upon which the ANC should've built, tapping in to the established knowledge and expertise, taking it to the townships, instead of muh transformation and redress.

Can't compare us to say Angola, where the only real industrial development were mines, railways and ports to get the resources out. The Portuguese had zero interest staying there long-term and once the sh*t hit the fan in the 60s and 70s they bailed out.

Its the ANC that have not invested in a sustainable future beyond resources. They never expanded on what had been developed, instead they stretched it to breaking point and bled the place dry, not looking beyond the fruits of finite resources.

 

[2023]

World class water and electricity generation; infrastructure in minority areas was of high quality; education system in minority areas was top class; due to sanctions, domestic engineering and technology was heavily invested in (see our arms development and production).

And it's a shame that we slipped so far back in these regards.

 

[d0b33]

I disagree. The Afrikaners/NP knew they had nowhere else to go, so they built a sustainable country - at least for themselves. World class water and electricity generation; infrastructure in minority areas was of high quality; education system in minority areas was top class; due to sanctions, domestic engineering and technology was heavily invested in (see our arms development and production).

And how was this all paid for? The Afrikaners were piss poor before gold was discovered.

 

[Lupus]

And how was this all paid for? The Afrikaners were piss poor before gold was discovered.

How far back are you going with this thought?

 

[MrGray]

And how was this all paid for? The Afrikaners were piss poor before gold was discovered.

Afrikaners had very minimal ownership of the gold industry. Gold was discovered in Johannesburg in 1886 and the British seized control of the Transvaal not long after that. This was 62 years before the NP came to power.

 

[thestaggy]

And how was this all paid for? The Afrikaners were piss poor before gold was discovered.

You say that as if South Africa is the only country in history to get its start on the back of resources.

Once-upon-a-time Germany was all about its Ruhr coal mines and heavy steel industry. The Ruhr was the backbone of Germany's post-WW2 ''economic miracle''. By early 1970 both industries were in terminal decline, plunging the region in to crisis and forcing it to diversify if it wanted to survive. Today the Ruhr is home to the service industry and high technology and along with the greater Rhine-Ruhr metro, forms the 4th largest metro by GDP in the EU and is home to 12 Fortune 500 companies, among them retail, financial, pharmaceutical, consumer and telecom companies. A far cry from the coal mines and steel mills that made it famous.

This is the home of the Afrikaner, not to be compared with Belgian, French, Portuguese or British colonies elsewhere on the continent that never had the intention to stay here. One laid down roots, the others were ready to gap at a moments notice once they got what they needed.

 

[Solitude]

The rand is really tanking now.

 

[thestaggy]

The rand is really tanking now.

No surprise after the BS they came up with regards the SARB.

Any time one of the ANC's half-brained idiots opens their mouth the rand gets routed.

 

[Cius]

Sherbet, got my shengen visa yesterday and was about to buy forex. Have till next Thursday so any views on if it will strengthen again, or am I paying for the spike?

 

[d0b33]

Sherbet, got my shengen visa yesterday and was about to buy forex. Have till next Thursday so any views on if it will strengthen again, or am I paying for the spike?

NOBODY KNOWS

 

[lkswan747]

This thread is soooooo.... depressing.