South Africa economy now pyramid scheme

Die Vryburger

South Africa economy now pyramid scheme - Image - Die Vryburger

More people in South Africa now have social grants than there are people who work in the economy.

It appears from a report by the Institute of Race Relations (IRA).

In response, Adv. Anton Alberts of FF Plus said that it means “the country’s economy has now deteriorated into a full-fledged pyramid scheme.”

Adv. Alberts said the FF Plus warned Minister Pravin Gordhan – former Minister of Finance – about three years ago that South Africa relegated to a situation where the economy could collapse like a pack of cards. This warning issued during a budget debate speech was then rejected as mere talk; The exact word was ‘hyperbole.’

“Unfortunately, it has now become real. The bad news is that there is no plan to reverse the economy since the pro-Gupta group of the ANC is in full control of the public purse and the numerous public service’s pension funds.”

“The ANC has no plan to rectify the economy because the chaos that is caused in the markets gives them the opportunity to implement their plan of sneaky expropriation by making money through speculation on the Rand and buying artificially printed Shares in the form of state funding through the Public Investment Corporation (PIC) and the National Development Corporation (NDC).”

“The forced bankruptcy and sale of the Optimum mine to the Gupta’s Tegeta is a classic example.”

“Black empowerment becomes merely an instrument to use as an intermediary in large transactions without adding any value. This means the poor are getting poorer and the new elite is just richer.”

“It does not predict anything good for SA and creates an environment for instability and ultimately revolution,” said Adv. Alberts.

Read the original article in Afrikaans on Die Vryburger

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