[Eyes Unclouded]

South African default may well serve to trigger contagion in financial markets.

[Red Badger]

[Billthedrill]

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.

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

[cuban leaf]

It would be fun to have been a white person that borrowed to buy a farm, and are still in a position of zero or close to zero equity, and then the government takes you farm.

They are not screwing you so much as they are screwing the bank.

The left never thinks this stuff through.

[ameribbean expat]

And in other news, the Law of Unintended Consequences has not been repealed...

[a fool in paradise]

OPM - other peoples’ money

‘all property is theft’ - Marxist maxim

[Still Thinking]

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.

1) How could the bank's 'rights' possibly be protected in an expropriation scenario?

2) Are these sheetheads actually saying they're OK with communism and theft so long as they don't get any on them? If so, I hope they lose their azz.

[BobinIL]

When south Africa becomes the next Somalia I hope everyone remembers what they did to get that way!!!

[tiki]

Haha, I guess their abject anger and envy blinded them to reality.

[PGR88]

The ANC is a marxist party. The institutions, organizations, and businesses of society exist to serve their political and social engineering aims.

[Capt. Tom]

Since the end of apartheid in 1994, the ANC has followed a “willing-seller, willing-buyer” model under which the government buys white-owned farms for redistribution to blacks. Progress has been slow.

I can see why that would be slow.
If you are going to require "willing buyers" ,blacks would have trouble getting the money to buy the farms and how many blacks would have the experience to manage a farm?

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

Unless the blacks are interested in farming, and can show they can grow the crops and not fail, they could cause a nationwide food shortage. Tom

[Wuli]

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

[John S Mosby]

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

[PAR35]

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

[GOP Poet]

uh . . . DUH!!!

[arthurus]

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

[blueunicorn6]

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