Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

South Africa's Land Bank says land expropriation could trigger default
Reuters ^ | Aug 21 2018

Posted on 08/21/2018 11:03:50 AM PDT by Eyes Unclouded

South Africa's state-owned Land Bank said on Monday a plan to allow the state to seize land without compensation could trigger defaults that could cost the government 41 billion rand ($2.8 billion) if the bank's rights as a creditor are not protected. Land Bank is a specialist bank providing financial services to the commercial farming sector and other agricultural businesses. President Cyril Ramaphosa announced on Aug. 1 that the ruling African National Congress (ANC) is forging ahead with plans to change the constitution to allow the expropriation of land without compensation, as whites still own most of South Africa's land more than two decades after the end of apartheid.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: africa; anc; bank; banking; blackkk; blackmajorityrule; boer; boers; cyrilramaphosa; eff; genocide; juliusmalema; sa; southafrica; whitegenocide
Navigation: use the links below to view more comments.
first previous 1-2021-38 last
To: Eyes Unclouded

good phrasing.
It would be racist, of course, to call this a Black Swan.


21 posted on 08/21/2018 11:31:48 AM PDT by griswold3 (Just another unlicensed nonconformist in am dangerous Liberal world.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Capt. Tom
It looks like the solution is going to be take whiteys property, and give it away to blacks.

Kinda sorta. The solution will be to take Whitey's property, give it to politically connected blacks for free. Hire gangsters and thugs to enforce the black peasants on it giving a cut of their meagre earnings to the new owner. Socialist-cum-African-Neo-feudualism.

22 posted on 08/21/2018 11:32:01 AM PDT by PGR88
[ Post Reply | Private Reply | To 19 | View Replies]

To: Billthedrill
I have some bad news for the bank - if a thief steals your car he isn't going to take over the payments.

The government thief thinks they can steal the property and be absolved of the debt owed to the bank secured by the property. Tough beans. The bank may be legally in a position to repossess the collateral property that secured the loan. The bank and the thieving government can fight it out. The land owner/mortgage holder is being dispossessed of equity in the property. That is criminal...not to mention being killed or starved in addition to the property loss.

23 posted on 08/21/2018 11:35:01 AM PDT by Myrddin
[ Post Reply | Private Reply | To 4 | View Replies]

To: Gen.Blather

These people aren’t even the Left. They are just thieves.

...

They are crooked politicians. Supposedly the rank and file ANC don’t support expropriation.


24 posted on 08/21/2018 11:35:07 AM PDT by Moonman62 (Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: BobinIL

BobinIL wrote: “When south Africa becomes the next Somalia I hope everyone remembers what they did to get that way!!!”

They will and blame the Afrikaners!!!


25 posted on 08/21/2018 11:40:12 AM PDT by DugwayDuke ("A man hears what he wants to hear and disregards the rest")
[ Post Reply | Private Reply | To 12 | View Replies]

To: a fool in paradise

“Expropriate the Expropriators!”


26 posted on 08/21/2018 11:41:56 AM PDT by griswold3 (Just another unlicensed nonconformist in am dangerous Liberal world.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Eyes Unclouded

South Africa is going the way of Zimbabwe and the process will accelerate as the land expropriation process takes hold.


27 posted on 08/21/2018 11:43:06 AM PDT by Wuli
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eyes Unclouded

Suidlanders.org see their page. This is real deal— expropriation without compensation. the Zimbabwe model template by Marxist with chi-com help. Repeat history.


28 posted on 08/21/2018 11:52:40 AM PDT by John S Mosby (Sic Semper Tyrannis)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eyes Unclouded

What? The bank doesn’t think that the rich crackers will keep paying their loan just because the government grabs most of their assets?


29 posted on 08/21/2018 12:08:55 PM PDT by PAR35
[ Post Reply | Private Reply | To 1 | View Replies]

To: Myrddin

Did you miss the part about the bank being ‘state owned’. The Kleptocrats are too stupid to realize that they are boing to end up stealing from themselves.


30 posted on 08/21/2018 12:12:29 PM PDT by PAR35
[ Post Reply | Private Reply | To 23 | View Replies]

To: Eyes Unclouded

uh . . . DUH!!!


31 posted on 08/21/2018 12:13:17 PM PDT by GOP Poet
[ Post Reply | Private Reply | To 1 | View Replies]

To: Still Thinking

The bank is state-owned. It all zeros out, the debt is cancelled when ownership of the asset is recognized.

And now the state owns the land...hey...what do you think the odds are that the state just keeps the land instead of doing land reform? “I’m sorry, we, uh, I mean the state, has to take ownership otherwise the land bank would default. The repercussions in the international lending arena would be catastrophic...hey! ignore that bigazz party palace shaped like Beyonce’s booty being built over there in the distance...”


32 posted on 08/21/2018 12:31:53 PM PDT by ameribbean expat (Socialism is like a nude beach - - sounds great til you actually get there. -- David Burge.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: BobinIL

Zimbabwe (Rhodesia) should have taught them that lesson cause that is exactly what they did there to white people.

Those that don’t learn from history are condemned to repeat it!


33 posted on 08/21/2018 1:19:46 PM PDT by packrat35 (Pelosi is only on loan to the world from Satan. Hopefully he will soon want his baby killer back)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Still Thinking

The prior sales were generally at amounts to at least cover the mortgage even if they didn’t give land owners much money left over.


34 posted on 08/21/2018 1:46:12 PM PDT by tbw2
[ Post Reply | Private Reply | To 9 | View Replies]

To: Eyes Unclouded

The whole country will be in default soon enough, default and famine ridden.


35 posted on 08/21/2018 2:30:20 PM PDT by arthurus (ZzVv)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BobinIL

Zimbabwe and Somalia will be all rolled up into one package in South Africa. When it flies apart I hope the white Africans are well armed and provisioned for the fight. If they manage to hold their own and especially if they are gaining expect the UN to intervene on the side of the thieves and Communists as in Katanga.


36 posted on 08/21/2018 2:33:27 PM PDT by arthurus (sjC)
[ Post Reply | Private Reply | To 12 | View Replies]

To: griswold3

Indeed FRiend, indeed!


37 posted on 08/21/2018 2:42:35 PM PDT by Eyes Unclouded (The beginning of wisdom is this: Get wisdom.)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Eyes Unclouded

“Freeeee Nelson Mandela.
Freeeee Nelson Mandela.
So he can grow some crops.”


38 posted on 08/21/2018 2:47:12 PM PDT by blueunicorn6 ("A crack shot and a good dancer")
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-38 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson