While hardworking South Africans scrape by under load-shedding and crumbling services, former Ekurhuleni city manager Imogen Mashazi was living like a queen in a R60 MILLION Waterfall Equestrian Estate palace.
Complete with private lift, full spa sanctuary, smoothie bar, pajama lounge, and who knows what else, all while pulling in a "modest" R3.1 million salary managing a R50 BILLION municipal budget.
How does a civil servant afford a mansion previously owned by the likes of Edwin Sodi? Magic? Or just the ANC's special brand of "public service?"
This is the same regime that can't keep the lights on, fix potholes, or protect White farmers from brutal farm murders, but their cadres get luxury estates with smoothie bars.
The looting never stops. The humiliation of South Africa continues.
Disgusting.
Rick Rule: In a secular bull market, cyclical declines and volatility are normal.
From 1971-74:
- Gold rose from $35 to $200.
- Inflation increased from 3.3% to 12%.
To put an end to the inflationary cycle, Burns raised rates from 3.3% in 1972 to 13% in 1974.... Inflation declined and so did gold, falling 50% to $100.
But it wasn't just inflation that came down.
The entire economy rolled over:
- Unemployment: ~9%
- S&P 500: -50%
- Housing: -50%
By 1975, Burns could no longer withstand the political pressure and cut rates from 13% to ~6%.
That set the stage for the next inflationary wave and the resumption of the gold bull market.
Over the next five years, gold surged from $100 to $850 and those who lost faith in gold missed the greatest move in its history.
- Back then, debt-to-GDP was ~30%.
- Today it's around 120%.
Even if we get a rate hike, sooner rather than later the pain associated with higher rates will become worse than inflation.
This gold bull market isn't over yet.
WhatsApp’s “encryption” may be the biggest consumer fraud in history — deceiving billions of users. Despite its claims, it reads users’ messages and shares them with third parties. Telegram has never done this — and never will 🤝
@piersmorgan@realDonaldTrump Shut up Morgan you pussy!
Why don’t you go back to telling the world that unvaccinated people should be “thrown in caves”😡
@TeflonJnr@KobeissiLetter Saudi Arabia funded more terrorists groups than anyone & they're our 'ally'.
Also where is the f*ck is the proof of nukes? No one has proven anything, unless you plan on showing us aluminum tubes again. War mongering fucks