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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (4274)2/13/2008 9:11:06 PM
From: Secret_Agent_Man  Read Replies (2) of 71456
 
If anyone thought the power supply problem in SA would be quickly resolved they had better think again:

QUOTE

bloomberg.com

Feb. 13 (Bloomberg) -- Eskom Holdings Ltd., South Africa's state-run utility, will retain limits on power supply to users such as mines and smelters to 90 percent of normal needs until 2012, exacerbating a crisis that threatens economic growth.

The curbs are unlikely to be lifted ``until 2012,' when the first new coal-fired plant starts up, Eskom Finance Director Bongani Nqwababa said in an interview yesterday. Asked whether supply may be boosted sooner, he said: ``Unfortunately not.'

END

It can’t be much clearer than that.

The article then goes on to say

QUOTE

Platinum rose to a record today in London on concern the restrictions will further disrupt mine output in South Africa, the biggest producer of the metal. Last month, most of the country's mines shut for five days after Johannesburg-based Eskom said it couldn't guarantee supplies. It later agreed to provide industrial users with 90 percent of normal needs.

END

Hello! What about gold? They are still the World’s biggest exporter of gold even if their production decline has put them just behind China in production terms. Not a mention. That is probably because the journalist was a bit perplexed to be able to explain gold going in the opposite direction to platinum the last two days! He obviously doesn’t know what GATA knows!
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