South Africa

After South Africa's embattled president Jacob Zuma pledged, in a surprising address to parliament one month ago, to break up white ownership of business and land to reduce inequality (in a State of the Nation address which was disrupted by a fistfight), it now appears that Zuma's intentions to convert what was until recently Africa's most prosperous economy into a new Zimbabwe were all too real, and as the Telegraph reports, the South African president officially called on parliament to change South Africa’s constitution to allow the expropriation of white owned land without compensation.

In a stark flashback to the events that led to Zimbabwe's terminal collapse into banana republic status, as well as unleashing hyperinflation and economic devastation, on Thursday South African President Jacob Zuma pledged to break up white ownership of business and land to reduce inequality, in a State of the Nation address which as the WSJ reports was disrupted by a fistfight, walkouts and a release of pepper spray in the parliamentary chamber. It appears South Africa is not fond of implementing "Rule 19."

South Africa’s ANC government is encouraging an “openly hostile” attitude towards white people based “on negative racial stereotypes”, while developing policies that are designed to force all white people out of the country, according to former President F.W. De Klerk. De Klerk—who was the last leader of the country during apartheid before he handed power over to the ANC during the early 1990s—was speaking this week on the anniversary of his famous “Red Tuesday” speech delivered on February 2, 1990, in which he lifted the ban on the ANC and announced Nelson Mandela’s release from prison.

Submitted by Simon Black via SovereignMan.com,

Shocking. Astonishing. Jaw dropping.

There’s just no other way to describe how cheap South Africa is right now.

Between the worldwide decline in commodities prices, and a major crisis of confidence in the national government here, the local currency (South African rand) remains at the lowest level it’s been… ever.

And that’s made nearly EVERYTHING here dirt cheap if you’re spending foreign currency… especially US dollars.