Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (16306)	11/26/2002 2:31:46 PM
From: sea_urchin	Read Replies (3) \| Respond to of 81980

ild >Why do you think nationalizing, or something to this extent will not happen? Simply (1) because SA is not a true socialist country and (2) even if it was, the government couldn't pay. Admittedly the ANC has its roots in Marxism but, today, if anything, they are rampant capitalists. They certainly believe in reverse racism / affirmative action and the real threat to business has been the high percentage of unskilled blacks which new legislation insists must be part and parcel of all businesses, especially big ones. I am sure you are aware of the new mining/minerals Bills which prescribe that 25% of new mining business in the next 5 years must be with black participation. And more, over the years. Also that all mineral resources must vest with the state. m1.mny.co.za Anyway, Anglo, Goldfields and Harmony seem happy with what is involved and, as I understand it, helped to frame the legislation. >I'm a big holder of SoAf gold miners. They have done great over last year, but I always worry when I read such an article. Good to hear that you have done well esp with SA stocks. IMO, the most important thing affecting the gold stocks is the gold price and I don't think you should worry about theoretical or imaginary political factors which could impact on your investments. At the moment, however, the strong rand is causing the SA gold price to fall and that is affecting gold mine profits. m1.mny.co.za