SA Rand & Gold
September 9, 2024 - Gold in Rand = secular uptrend & all-time high!
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![[Most Recent Quotes from www.kitco.com]](https://www.kitconet.com/charts/metals/gold/t24_au_en_zaoz_2.gif) |
Bullish objective | R - ???? |
| Resistance | R - 45,200 |
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| Support | R - 42,000 |
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| Bearish objective | R - 42,000 | ||
| Technical pattern | Exponential Acceleration. |
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Having spent many years in South Africa, I would advise investors not to hold their breath regarding the new president, Cyril Ramaphosa, who is bringing improved governance here. Corruption in the country is all-pervasive and is now penetrating personnel in the judiciary. I know this from various contacts I have. The Zuma faction still wields enormous influence within the ANC. The black economic empowerment policy has led to unsuitable and unqualified people being placed in key government and private positions. Given the world economy's current state, I would be surprised if the ZAR is not the currency that loses the most value among the emerging markets over the next year. This year's elections will bring a new president who is even worse than Ramaphosa! (March 2024) |
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| South African Rand - mind the INVERTED PF-Charts! Higher is lower & lower is higher! |
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![[Most Recent Exchange Rate from www.kitco.com]](https://www.weblinks247.com/exrate/24hr-zar-small.gif) |
US $ | Euro | |
| Bearish target | $ 22.00 | € 24.00 |
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| Resistance | $ 19.20 | € 22.50 | |
| Support | $ 16.80 | € 17.20 |
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| Bullish Target |
$ 14.80 | € 15.20 | |
| Technical pattern | Bear Trend |
Bear Trend |
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SA Rand and US Dollar:
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Rand in Euro: It has lost half of its value since 2011. Assume you bought a house in Knysna and invested € 500,000 in 2011; today, the residual value is € 250,000!
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There is a correlation between the exchange rate of the Rand and the nominal price of Gold:
Gold mining in South Africa is still cheap. Changing legislation kills the goose with the golden eggs in a Zimbabwe pattern!
Updated December 1, 2018 - What happened and happened in Africa is a BLUEPRINT of what will happen in any country and continent where LOW I.Q. takes over life. IMMIGRANTS. Whether BLACK, MUSLIM, ARAB.
What happened overnight in South Africa during the 1990s (I lived it) is slowly but surely happening in the Western World. Whites will soon be outnumbered.
South Africa has always been the most European country in Africa. It was also the country that was ruled the longest by white people. Since the sanctions of 1960, the Rand has been a weak currency. In 1960, one could fill up his car with ONE RAND. We did some research about the financial situation of South Africa years ago (1990) as The Mountainlands project was started up, and at that time, the figures looked rather good. Today they look BAD. Ever since the previously disadvantaged have become advantaged. People with a LOW IQ (the average IQ of the African population is 70) have taken over South Africa, and CORRUPTION and MISMANAGEMENT have become part of daily life. Proof of this we have all over Africa. Up to the 1950s and 60s, the standard of living in Africa was excellent (also for the black population). Law and order, Medicare for all, and a good infrastructure. As country after country kicked out of the White Colonists, the continent was propelled back to the Middle Ages. Shit happens if you let a nurse operate on a patient!
In the 1970s, South Africa was the world's most prolific exporter of gold. Over the years, industrial decline has seen widespread closures of mines across the country. However, Johannesburg sits on the most extensive gold basin ever discovered. It's perhaps not surprising that many of these abandoned mines have seen a recent boom in illegal mining activity... as we have for years in other African countries.
Click here for the IMF report.
There is a shortage of COAL required to run ESCOM's electricity plants...and there are no plans for new COAL MINES. (Dec 2018)
The Rand must be avoided by all means. It has become a BLACK COUNTRY CURRENCY. During the 1950s & 1960s, South Africa was a modern and prosperous country with NO UNEMPLOYMENT. In those years - under the rule of Apartheid - the life of BLACK people was, on average, better than today. The country was destroyed by the Media & Communists during the 1990s. [fascinating interview below]. A NAIVE de Klerk gave South Africa away to BLACKS and COMMUNISTS, and he did it on a silver plate. Mandela's life brought more misery for all South Africans, black and white. Norway, Sweden, The Netherlands, the Socialists, and the Media can be proud of themselves...The REALITY is that Mandela was a COMMUNIST and a MASS MURDERER who killed thousands of innocent women and children. Mandela is the one who has to be blamed for today's GENERAL Black and White MISERY in South Africa.
Note
What goes around comes around: Norway, Sweden, and the Netherlands were most involved in what they called anti-Apartheid. ANC members received their Detonators and Dynamite from these countries. The USSR financially supported all ANC members in Europe. Maybe that was why the USSR went bankrupt in 1998, and Norway, Sweden, and the Netherlands have seen such a large inflow of Immigrants.
Zuma is finally gone (Feb 2018), but his successor is even worse...and so will Julius Malema, the next successor (2024).
NO African country can and will survive without receipts from the export of African commodities, such as gold, silver, diamonds, etc. ALL African rulers, no matter how corrupt they may be, know this.
These problems have to be solved by Entrepreneurs that politicians can't reach or intimidate. Everything in South Africa is bankrupt.
The new 2024 South African Ruler is even more dangerous!
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