Foreign exchange controls have only one purpose: to shield bad policies.
Introduced in the aftermath of Sharpeville, it has been a substantial stranglehold on the economy. The National Party could not bring themselves to reform Apartheid and consequently imposed Forex Controls. Narrow harmful ideology chosen ahead of the good of the country.
The same applies today. The ANC would rather damage the country as a whole in their choice of policies that no sensible centre parties would ever adopt.
Countries with reasonable and acceptable policies do not need exchange controls.
In most situations, a cost-benefit analysis of a policy can be done. In the case of FX controls, it’s is only a cost analysis that is relevant. There are zero benefits. FX controls are a double cost to the economy - the cost of administration and the cost of the damage to the economy.
How much of the growth in Mauritius or Dubai for example can be attributed to economic activity transferred out of SA that escaped FX controls?
Poverty and unemployment are imposed on SA by the choices our politicians take. FX control regulations is a monument to political destruction of the SA economy.
Four years ago today, whistleblower Babita Deokaran sent a chilling message to her boss:
"Our lives could be in danger." 12 days later, she was dead.
This is the story of that warning, in a @News24 🧵. #BabitaDeokaran
@goolammv@EdKieswetter Pravin Gordhan was good at SARS too, changing him to other roles might have been a mistake and he's beyond his sell-by date now. @EdKieswetter must groom people to fill his shoes
Nick and I told Sophia that after 1 whole month of going poop on the potty, she could pick out a special prize at Target. She, of course, picked a new doll. The obsession is real.
While we were checking out, the cashier asked Sophia if she was going to a birthday party. We both gave her a blank stare. She then pointed to the doll and asked Sophia if she picked her out for a friend.
Sophia continued to stare blankly and I let the cashier know that she was a prize for Sophia being fully potty trained. The woman gave me a puzzled look and turned to Sophia and asked, “Are you sure this is the doll you want, honey?”
Sophia finally found her voice and said, “Yes, please!” The cashier replied, “But she doesn’t look like you. We have lots of other dolls that look more like you.”
I immediately became angry, but before I could say anything, Sophia responded with, “Yes, she does. She’s a doctor like I’m a doctor. And I’m a pretty girl and she’s a pretty girl. See her pretty hair? And see her stethoscope?” Thankfully the cashier decided to drop the issue and just answer, “Oh, that’s nice.”
This experience just confirmed my belief that we aren’t born with the idea that color matters. Skin comes in different colors just like hair and eyes and every shade is beautiful.
Credit: Brandi Leilani
@Abramjee Perhaps the titles of Ministers should reflect what problem they're supposed to be solving: e.g. Minister of Loadshedding instead of Electricity, Minister of Crime instead of Police, Minister of GBV instead of Women, Minister of SOE Bailouts instead of Public Enterprises, etc.
@Jay_Naidoo@rfearon Just lateral thought: Considering the factions, the corrupt vs the incorruptible, the looters vs the givers, those with integrity vs those with the mind to plunder, can an organization reorganize i.e. organize against itself? Or is this unfathomable to retain the orginal fabric?
Black excellence is feared by too many mediocre white people, especially the excellence of a black woman. This is casual and familiar and ongoing misogynoir that's a basic element of white supremacist ideology in particular.
🇿🇦 It will take deep diagnosis and bold, original thinking (without baggage) to plot a course that returns SA to a path of prospective economic dignity for all - let’s find and back the 40-somethings that could do it?!@CyrilRamaphosa @PresidencyZA 🇿🇦
Very interesting. This camera just flashed at me, whilst doing 65km/h in an 80km/h zone, just before Empire Road offramp on the M1 North. #FakeFine#FalseCalibration. If I receive a fine, I will be contesting it.
Our use of violence does not enhance our masculinity, but rather exposes our weakness, our depravity. How sad that those who lead us are unable to evidence the real human strengths found in tolerance and kindness!
#AllLivesMatter#WakeUpANC#ThabangMustBeJailed
All these people should be charged with crimes against humanity. Zuma for causing massive unemployment and misery, Molefe/Singh/Koko for setting renewable energy back, officials in the Esidimeni tragedy, Net1 for exploiting the poor...the list goes on. https://t.co/LRyBFjGC4a