In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the recession in South Africa as the South African Rand crashes following countless warnings by us here at WAM.
The Rand fell 3% on Tuesday as the economy fell into a technical recession.
We are seeing the repeat of countless warning signs we saw in Zimbabwe. Could they see hyperinflation heading their way? Because the massive central planning in South Africa is certainly leading to the vast poverty which came with the same in the former African country.
There is utter uncertainty in South African, but one thing is absolutely certain. All fiat currencies eventually revert to their true value of zero. They always have throughout history going back to 1024 AD in China. This time will not end any different and while we had done many reports on this coming issue in the past, people rolled their eyes. This is simply what happens when you have out of control central planning and quantitative easing. When massive government enforces coercive rules on the populace while taxing people into oblivion.
Ramaphosa is acting the part of a king while history repeats. Interestingly he arrogantly thinks an upcoming stimulus package is going to fix this problem destined to worsen.
We will continue to follow this issue closely. Decentralize everything and rule yourselves!
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