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Debt crisis for SA?

29 December 2011, 07:56
South Africa "used" to have the cheapest electricity in the world. Then suddenly............ er hem, through "mismanagement" and a "hold" up in the coal supply, we have a crisis. Major problem, in spite of the fact that we have an abundance of coal....


The next thing we have rolling blackouts, the whole country is brought to a stand still.


Funny how since then we have not had to have blackouts...... but still, we now have to "borrow" three trillion from the IMF, and pay interest on this money.


Somebody is getting rich, and it is not the South African tax payer. I do not believe we had to borrow this money at all, and I strongly suspect that Eskom could have solved the probelm themselves. And the lack of delivery of the coal was a set up...

Now, we are the apple of the IMF's eye, with a personal visit from them in January. I do not trust it one little bit. I believe we are being set up, in the same way that Greece and Iceland were set up, and in the same way Argentina was set up.

More and more these days I find myself supporting COSATU. They refused to offload arms and amunition to Mugabe, that was the first time I really took notice. They have had the guts to stand up to WALL MART, a company that most South Africans do not want here, we prefer our South African owned companies who were fine thank you very much, creating jobs, doing a good turnover and providing for our needs, without this USA invasion, most of us are upset that South Africans "sold" out for the big buck to this offshore company! Now COSATU is standing up against the rediculous toll charges that are about to be instituted in Gauteng.

For any South African who is not fully awake to IMF loans that will put us deep into debt, uder the auspices of "investment" and "job creation," I highly recomend the film "War by other means," by John Pilger.

"John Pilger travels to many third world countries to investigate the devastating results of loans from the World Bank and International Monetary Fund (IMF). This film shows how many wars today are not carried out at the barrel of a gun, but by the monetary policies of global banking institutions. Instead of bombs, it has been discovered that debt is a far more powerful weapon to control and maintain the power of global economic interests. It turns out that the "structural-adjustment" policies of neo-liberal economics are even more deadly than nerve gas and many other weapons of war. This documentary backs up many of the claims made by John Perkins, author of Confessions of an Economic Hit Man."

Here is the link :!

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