Black only stock exchange (yes this is a real story)

[George Whorewell]

Maybe this is the job in finance Benny Blanco used to pretend to have. I guess we owe him an apology. Of course, its easy to trade stocks when the only company being traded has the ticker symbol "OOG". Imagine, hundreds of illiterate Africans running around yelling OOG at one another in a dank, non air conditioned bunker all day. I guess prosperity has to start somewhere.

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/zimbabwe/10226393/Zimbabwe-to-open-a-blacks-only-stock-exchange.html

Zimbabwe to open a 'blacks only' stock exchange
Zimbabwe's regime has promised to open a new and racially exclusive stock exchange, allowing blacks alone to trade shares seized from foreign companies.

The plan to grab mining companies, most of which are South African-owned, follows President Robert Mugabe's landslide re-election last week.
Saviour Kasukawere, the 'indigenisation' minister, said on Tuesday that the government or black Zimbabweans would take 51 per cent of the shares in all major foreign-owned companies, valued at about £4.8 billion. No compensation will be paid.
The regime wants to control mining companies and in particular Zimplats, a major platinum producer which is largely owned by South Africa's Impala Platinum Holdings.Mr Kasukawere said that mining companies which do not "cede" 51 per cent of their shares to black Zimbabweans or the state would risk losing their operating licenses.He said the value of the natural resources or underground metals extracted by the companies were sufficient to pay for majority shareholdings

"When it comes to natural resources, Zimbabwe will not pay for her resources," said Mr Kasukuwere in an interview with Bloomberg, a news agency.
Psychology Maziwisa, spokesman for the ruling Zanu-PF party, confirmed that Mr Kasukawere's remarks were official policy. "All of this is correct. Its what we told voters we will do," he said.
John Robertson, an independent economist in Harare, said: "There is no logic in that plan. He is in danger of introducing economic apartheid which is absurd."Mr Robertson added: "I think this is only politicking and there is no substance to this."
Metals and minerals, including platinum and gold, accounted for 71 per cent, or £480 million, of Zimbabwe's total exports last year.
South Africa has a bilateral trade and protection agreement with Zimbabwe. If the regime presses ahead and seizes a controlling stake in South African mining companies, they could use these agreements to secure compensation or the return of assets via international courts.
Whether Mr Mugabe's regime would respect any such rulings is another question. Mr Mugabe seized almost all of Zimbabwe's white-owned farms, often in defiance of court orders, and without compensation

[Jack T. Cross]

Maybe this is the job in finance Benny Blanco used to pretend to have. I guess we owe him an apology. Of course, its easy to trade stocks when the only company being traded has the ticker symbol "OOG". Imagine, hundreds of illiterate Africans running around yelling OOG at one another in a dank, non air conditioned bunker all day. I guess prosperity has to start somewhere.

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/zimbabwe/10226393/Zimbabwe-to-open-a-blacks-only-stock-exchange.html

Zimbabwe to open a 'blacks only' stock exchange
Zimbabwe's regime has promised to open a new and racially exclusive stock exchange, allowing blacks alone to trade shares seized from foreign companies.

The plan to grab mining companies, most of which are South African-owned, follows President Robert Mugabe's landslide re-election last week.
Saviour Kasukawere, the 'indigenisation' minister, said on Tuesday that the government or black Zimbabweans would take 51 per cent of the shares in all major foreign-owned companies, valued at about £4.8 billion. No compensation will be paid.
The regime wants to control mining companies and in particular Zimplats, a major platinum producer which is largely owned by South Africa's Impala Platinum Holdings.Mr Kasukawere said that mining companies which do not "cede" 51 per cent of their shares to black Zimbabweans or the state would risk losing their operating licenses.He said the value of the natural resources or underground metals extracted by the companies were sufficient to pay for majority shareholdings

"When it comes to natural resources, Zimbabwe will not pay for her resources," said Mr Kasukuwere in an interview with Bloomberg, a news agency.
Psychology Maziwisa, spokesman for the ruling Zanu-PF party, confirmed that Mr Kasukawere's remarks were official policy. "All of this is correct. Its what we told voters we will do," he said.
John Robertson, an independent economist in Harare, said: "There is no logic in that plan. He is in danger of introducing economic apartheid which is absurd."Mr Robertson added: "I think this is only politicking and there is no substance to this."
Metals and minerals, including platinum and gold, accounted for 71 per cent, or £480 million, of Zimbabwe's total exports last year.
South Africa has a bilateral trade and protection agreement with Zimbabwe. If the regime presses ahead and seizes a controlling stake in South African mining companies, they could use these agreements to secure compensation or the return of assets via international courts.
Whether Mr Mugabe's regime would respect any such rulings is another question. Mr Mugabe seized almost all of Zimbabwe's white-owned farms, often in defiance of court orders, and without compensation

There's a helluva name, alright!

[Jack T. Cross]

(interesting story on that guy, if anyone is looking for some diversionary reading, search it)

[headhuntersix]

They really fucked up that country.....seriously this is what happens when you redistribute wealth to retards. This is exactly what the far left would do without the Constitution.

[Jack T. Cross]

They really fucked up that country.....seriously this is what happens when you redistribute wealth to retards. This is exactly what the far left would do without the Constitution.

This is what happens when you allow a madman to call the shots while everyone cowers in fear.

And, sorry, but if you don't realize what sort of absolute degenerate holds the bulk of the money in this world, then you've got a lot to learn.

[headhuntersix]

Sure thing dude.......

The white Rodesians built that country...fed Africa doing so. Now black Africans backed by European libs have allowed the country to go to shit over 30 years of colonial self loathing. As far as who controls what...better in their hands then in the likes of those who run  countries like the former Rodesia.

[Jack T. Cross]

Sure thing dude.......

The white Rodesians built that country...fed Africa doing so. Now black Africans backed by European libs have allowed the country to go to shit over 30 years of colonial self loathing. As far as who controls what...better in their hands then in the likes of those who run  countries like the former Rodesia.

You mean like Mugabe, HH?  That's the point.

[Fury]

It's OK. It's not really racist because it's black people doing it. That's what the leftist media told me!

[24KT]

This is what happens when you allow a madman to call the shots while everyone cowers in fear.

And, sorry, but if you don't realize what sort of absolute degenerate holds the bulk of the money in this world, then you've got a lot to learn.

Holey Moley!!!! I'm almost speechless, ...but not really. This concept isn't really all that new.
I've never seen or heard of a country expropriating ownership rights without compensation in order to do it tho.

A good friend of mine is an elderly Indian investor. A Brahmin man whose portfolio consists of stocks, bonds, real estate, gold., etc., etc., He occasionally gives me investing advice, tips etc., and one day he was telling me about some of the shares he had and how they had performed over the years.

One of the things they used to do was buy up shares of a company, ...and have relatives run them. This way they knew the company would be well run. A few Brahmin families would get together and decide so & so's son is qualified to run the company, and they would buy up 51% of the shares, then install so & so's son to run the company.

The only companies he didn't do that with were the big multi nationals, however, he did tell me that the only reason he was even able to own shares in companies like Unilever, Colgate etc etc was because when these companies came to India, and started buying up land, the Indian government made them stipulate than 51% of the shares issued in India had to go to Indians. Had it not been for that he said, the British would have reaped all the profits.

This type of nationalism isn't new. Canada employs it's own brand of nationalism over what it considers strategic industries. This is one of the reasons the recent potash sale did not go through. We have certain industries where it is stipulated that a certain percentage MUST be Canadian owned.

Case in point... Netflix crushed the home video markets destroying Blockbuster Video in the process. Blockbuster Canada was very profitable, however, there was so much red ink flowing stateside, the Canadian division was too negatively impacted, and despite initial optimism that they could retain the Cdn div, but close the stores stateside, ...they ended up closing them all.

Often, what alot of these companies would do is simply trim costs, by cutting jobs outside of the home country of the corp, leaving foreign economies devastated.

By stipulating a certain percentage of ownership must be local, ...it ensures the wealth of the community is recirculated within that community, and not siphoned off and exported off shore, as it is now in many cases.

What I find hilarious or rather ironic in that article is the expressed notion that Mugabe was "introducing economic apartheid". Oh Puleaze! What the heck did they think was in place for so many years? Does it only become economic apartheid when it excludes you?

ps: While Mugabe's move is not unprecedented, I can certainly see where people take issue with it.

pps: Mugabe needs a new publicist. His PR person is asleep at the wheel.

[James28]

They really fucked up that country.....seriously this is what happens when you redistribute wealth to retards. This is exactly what the far left would do without the Constitution.

What black country isn't fucked up? Though I agree that Zimbabwe needs a special mention. Took 33 years but they succeeded.

[Bad Boy Dazza]

What I find hilarious or rather ironic in that article is the expressed notion that Mugabe was "introducing economic apartheid". Oh Puleaze! What the heck did they think was in place for so many years? Does it only become economic apartheid when it excludes you?

Two wrongs make a right?

[24KT]

What black country isn't fucked up? Though I agree that Zimbabwe needs a special mention. Took 33 years but they succeeded.

Rwanda for one. However, the real question to ask is WHY are African countries in such disarray?

And the answer is not the stock/canned response of the indigenous population is not intelligent enough to run a country.

[24KT]

Two wrongs make a right?

No, ...but 3 lefts will 

Re-read my statement, examine your own domestic policies, then come back and tell me how I view the situation.

[loco]

What black country isn't fucked up? Though I agree that Zimbabwe needs a special mention. Took 33 years but they succeeded.

Wakanda and Zamunda...oh, wait.  These are fictional nations in comic books and movies.   

[James28]

Rwanda for one. However, the real question to ask is WHY are African countries in such disarray?

And the answer is not the stock/canned response of the indigenous population is not intelligent enough to run a country.

Dunno. White man's fault?

[James]

I think Grant (Moderator from the Gossip Board) is from there, here is a video he posted a while back:


"The entire world has ignored the brutal dictatorship that Mugabe has had against both black and white people.  Hopefully the world will start to see the truth. One such movie is this one:"

[headhuntersix]

I think Grant (Moderator from the Gossip Board) is from there, here is a video he posted a while back:


"The entire world has ignored the brutal dictatorship that Mugabe has had against both black and white people.  Hopefully the world will start to see the truth. One such movie is this one:"

If it had been a shithole prir to Mugabe then I would expect nobody to bat an eye, but Rodesia was considered the breadbasket of africa. Europe has alot of colonial guilt and won't do anything in Africa anymore. They're allowing the Chinese to rape the countries there, far worse then anything they ever did.

[Mr. Zimbabwe]

I think Grant (Moderator from the Gossip Board) is from there, here is a video he posted a while back:


"The entire world has ignored the brutal dictatorship that Mugabe has had against both black and white people.  Hopefully the world will start to see the truth. One such movie is this one:"

Thank you James for alerting me to this thread. I was born in Rhodesia and became a Zimbabwean under Mugabe in 1980. The whole country (black and white) really hoped Mugabe was going to be another Mandela in helping to consolidate the country.  We were so very very wrong.   I have seen both side of the fence.  

Let me read this whole thread (above) before I comment further.

I kinda hate political debates on Getbig (or anywhere in the US for that matter) because it is always Lib's trying to tell me what shoulda/coulda happended in Zimbabwe....when I actually lived it?

[Option D]

Thank you James for alerting me to this thread. I was born in Rhodesia and became a Zimbabwean under Mugabe in 1980. The whole country (black and white) really hoped Mugabe was going to be another Mandela in helping to consolidate the country.  We were so very very wrong.   I have seen both side of the fence.  

Let me read this whole thread (above) before I comment further.

I kinda hate political debates on Getbig (or anywhere in the US for that matter) because it is always Lib's trying to tell me what shoulda/coulda happended in Zimbabwe....when I actually lived it?

NOT ME..Im definatley liberal..but right is right and wrong is wrong. Mugabe is wrong. I sent you the Video of his bullshit like 6 months ago.

[Bad Boy Dazza]

No, ...but 3 lefts will 

Re-read my statement, examine your own domestic policies, then come back and tell me how I view the situation.

I think I already understand how you view the situation.

[Archer77]

If it had been a shithole prir to Mugabe then I would expect nobody to bat an eye, but Rodesia was considered the breadbasket of africa. Europe has alot of colonial guilt and won't do anything in Africa anymore. They're allowing the Chinese to rape the countries there, far worse then anything they ever did.

Chinese will continue until its cheaper to build robots to do it.

[Mr. Zimbabwe]

If it had been a shithole prior to Mugabe then I would expect nobody to bat an eye, but Rhodesia was considered the breadbasket of Africa. Europe has a lot of colonial guilt and won't do anything in Africa anymore. They're allowing the Chinese to rape the countries there, far worse then anything they ever did.

This is a very good post. I'm shocked how the British have pretended they were never involved in building the infrastructure to a "tribal-hunter-gatherer" culture in the late 1800's?  Why are they so guilty? It's pathetic?  Yet ....the Americans wiped out the Native Indians and the Aussies wiped out the Aborigini's..... BUT at least the Brit's said  "Let's build this together guys?".  So why the guilt?

And yes....the CHINESE are raping the African states as we speak .....FAR worse than the Europeans did?  But no one says a damn word?

[Mr. Zimbabwe]

NOT ME...I'm definatley liberal..but right is right and wrong is wrong. Mugabe is wrong. I sent you the Video of his bullshit like 6 months ago.

Yes, you are right.  My apologies. I should not generalize about Lib's.  I have many Lib friends who are disgusted at Mugabe.  Most Americans just don't give a damn.  It's a sore point with me I guess.

[andreisdaman]

It's OK. It's not really racist because it's black people doing it. That's what the leftist media told me!

I would love to tell you what your mother told me

[24KT]

I think Grant (Moderator from the Gossip Board) is from there, here is a video he posted a while back:


"The entire world has ignored the brutal dictatorship that Mugabe has had against both black and white people.  Hopefully the world will start to see the truth. One such movie is this one:"

Thanks for posting that video.

Truly sad, and truly eye-opening. Furthermore, it is also truly revealing that Mike Campbell's case, was "THE FIRST TIME" an African citizen, has had his rights upheld, by an International court.    And this was only within the last decade. I think that reveals much!

One question I do have though is, how do the Mugabe's policies of injustice, intimidation, land redistribution/confiscation, ethnic cleansing & economic apartheid differ from that of the State of Israel's?