And the rand loses 1% just on that article
So you think prescribed assets wont happen? Think again...
The ANC says South Africa’s banks should be forced to invest in new coal mines in the country https://www.bloomberg.com/news/articles/2019-05-05/anc-wants-banks-to-be-forced-to-fund-south-african-coal-mines … via @bpolitics
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Next step - the ANC ordering the government to nationalise all the banks? Anything is possible in this Walt Disney country!
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Zimbabwe did the same
End of conversation
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Jip dit gaan heelwaarskynlik gebeur. Maak my befok.
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This means that South African banks will be forcibly supporting the coal price.
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Magnus doesn’t the law already prescribes assets through Regulation 28 of the Pension Funds Act? When gov bonds and gov backed SOE bonds offer better returns than equities does the current legislation limiting investment in gov bonds make sense? https://prudential.co.za/insights/articlesreleases/regulation-28-what-does-it-mean-for-investors/ …
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Despotism using capitalism as a front for socialism. (The Economist approves.)
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