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Gold/Mining/Energy : Precious and Base Metal Investing
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To: pater tenebrarum who wrote (749)12/6/2001 12:59:34 PM
From: russwinter  Read Replies (2) of 39344
 
<fallicious: exchange rate says something about the real value of those wages.>

Are you arguing that SA is a totally self contained economy? Do you not purchase products from abroad in any meaningful quantity?

These huge currency collapses (and 35% in a few months is a collapse by my definition) are pernicious. You may not see the impact the very next day, but you and your mine workers will feel it in due course. This Rand collapse will not be a free ride for SA miners or residents. There will be feedbacks into your economy. Workers will ultimately need to be paid in real money, not increasingly worthless script.

<'slave wages>

Ok, quasi-slave then.
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