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To: yard_man who wrote (125054)	9/25/2001 12:49:20 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

well, the ANC government has done what not one of its critics has expected it to do, namely all the right things for the SA economy, in spite of massive internal opposition (by the trade union umbrella organization COSATU, which is a political ally of the ANC). imo the reason for the weakness in the Rand is concern that Zimbabwe's out-of-control political and economic situation is a model for SA's future...i assure that that's not true (i know BOTH countries first hand). iow, there's a political discount that isn't really justified. note btw., that although the SA gold mine shares have been under pressure in USD terms lately due to the weakening Rand, they are actually a Rand hedge, and their Rand price tends to eventually adjust to reflect that fact. my measure for this effect is the spread between the JSE All Golds index and the Rand gold price...currently that spread is unusually large, a condition that usually precedes major rallies that narrow the spread back to normal levels.