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RE: Stores of Value – End of week roundup
Dear @bitbrain
Interesting choice of topic.
I know that property is also seen as a good store of value, but property rights are not universal, in some places property can be a risky investment.
I'm seriously afraid that property rights may change rapidly if our civilization would enter global recession. Your example is right on point. PErsonally I've few friends from South Africa and it's scary how worthless their properties became within such a short period of time (and some lost their land without even being compensated).
Scary shit.
Upvote on the way :)
Yours,
Piotr
Yes, I can imagine their property values are very low since their president himself speaks about "expropriation without compensation", though there have been no such incidents in that country - yet...
Of course their next door neighbour Zimbabwe is an entirely different matter: there armed thugs arrived on farms and told people to evacuate immediately or be shot - all condoned by their president Robert Mugabe.