Been reading a bit, the mining strike and recent military on high alert etc...
This article is interesting.
Marikana miners in debt sinkhole | Business | Mining | Mail & Guardian
Basically the miners are in constant debt from company and non-company cash-loan stores. Ergo there is a treadmil of debt somewhat upon them. If we keep in mind 8.35 rands per dollar and 121 billion rands in (i assume total unsecured debt) or about 14.5 bil dollars. With 5% a month interest it does put the petal to the metal for people.
For short-term loans, the average amount lent over a year to a Ubank customer is R1 870 and the average unsecured loan amount over a 12-month period is R13 800, taken over a loan period of between 12 and 36 months.
Wondering how South Africa breaks up if this happens. Was thinking if the capes in the west seperate as a country from the rest or what. Technically the mining companies have a lot of leverage the reality is control is in the eyes of the beholder. Right now it is all a public relations from various camps to control the situation that is rapidly deteriorating.
Soldiers hand over ammo as Malema guns for Zuma | News | National | Mail & Guardian
Soldiers hand over ammo as Malema guns for Zuma
12 Sep 2012 16:50 - Nickolaus Bauer, Verashni Pillay
New mass strike hits Gold Fields mine in South Africa - Yahoo! News South AfricaBasically the spreading of lonmin amplats (platinum producer) strike to the gold mining sector. With 15000 workers for gold mines now striking as well.
Military on
Yes, I know its my forte to go on a separation, break-up spree but you have to admit that it seems to be heading in at least if not in that direction some sort of a political power shift. My guess it will go to multiple parties or dictatorial with country splitting along power lines. Ergo if you control something on the ground and can get a private army going to enforce your will that will be the objective.
This article is interesting.
Marikana miners in debt sinkhole | Business | Mining | Mail & Guardian
Basically the miners are in constant debt from company and non-company cash-loan stores. Ergo there is a treadmil of debt somewhat upon them. If we keep in mind 8.35 rands per dollar and 121 billion rands in (i assume total unsecured debt) or about 14.5 bil dollars. With 5% a month interest it does put the petal to the metal for people.
Mining customer base ensures Ubank’s healthy bottom line
One of the biggest players in the microfinance market is the Chamber of Mines and the National Union of Mineworkers’ Ubank.
The bank has 500 000 customers and is the third-largest player in this sector after African Bank and Capitec.
Formerly known as Teba Bank, Ubank is owned by a trust managed by the NUM and the chamber. It has entrenched itself in gold and platinum mining communities.
The NUM has been criticised for being out of touch with the needs of the workforce. Speaking at Lonmin’s Marikana mine a few days after the massacre, expelled ANC Youth League president Julius Malema said the workers should not associate with those who have sold them out and that the NUM had no intention to defend the workers.
Sixty percent of Ubank’s customers work in the mining industry and most of its branch network services the gold and platinum mining areas and the rural areas their customers call home.
Ubank said it was a unique banking institution driven by a social consciousness that underpinned all it does. “Responsible lending is paramount to Ubank because many of the consumers are overindebted,” it said in a statement to the M&G.
One of the biggest players in the microfinance market is the Chamber of Mines and the National Union of Mineworkers’ Ubank.
The bank has 500 000 customers and is the third-largest player in this sector after African Bank and Capitec.
Formerly known as Teba Bank, Ubank is owned by a trust managed by the NUM and the chamber. It has entrenched itself in gold and platinum mining communities.
The NUM has been criticised for being out of touch with the needs of the workforce. Speaking at Lonmin’s Marikana mine a few days after the massacre, expelled ANC Youth League president Julius Malema said the workers should not associate with those who have sold them out and that the NUM had no intention to defend the workers.
Sixty percent of Ubank’s customers work in the mining industry and most of its branch network services the gold and platinum mining areas and the rural areas their customers call home.
Ubank said it was a unique banking institution driven by a social consciousness that underpinned all it does. “Responsible lending is paramount to Ubank because many of the consumers are overindebted,” it said in a statement to the M&G.
Wondering how South Africa breaks up if this happens. Was thinking if the capes in the west seperate as a country from the rest or what. Technically the mining companies have a lot of leverage the reality is control is in the eyes of the beholder. Right now it is all a public relations from various camps to control the situation that is rapidly deteriorating.
Soldiers hand over ammo as Malema guns for Zuma | News | National | Mail & Guardian
Soldiers hand over ammo as Malema guns for Zuma
12 Sep 2012 16:50 - Nickolaus Bauer, Verashni Pillay
The soldiers gathered to hear Malema address their worries over being placed on special leave following a violent strike – despite court action in their favour.
"You have been winning court cases but the government is not prepared to listen to the courts," said Malema, who was flanked by his spokesperson Floyd Shivambu and suspended youth league secretary general Sindiso Magaqa.
Malema told soldiers that South Africa was a "banana republic" that does not follow the rule of law.
"No one is above the law, not the military, not the presidency and not Parliament. Every court decision must be respected," Malema told over 100 soldiers in civilian dress at the Lenasia Recreation Centre, south of Johannesburg.
"We must respect the courts but the leadership of this banana republic disrespects the courts."
He referenced the Democratic Alliance's (DA) battle to get hold of the transcripts of the controversial "spy tapes", which the National Prosecuting Authority had claimed were the basis of its decision not to prosecute President Jacob Zuma.
"We don't like the DA, we don't like Helen Zille," said Malema. "But she has won a court case which gave them 14 days. Now [it's] almost a year and they are not complying with that court order."
Contempt of court
The DA has lodged a court application against the NPA for being in contempt of court after refusing to hand over a record of its decision relating to the dropping of corruption charges against Zuma.
Malema continued to build a careful case against the government and particularly Zuma as its head, pointing out the legality of his challenge at every step.
"We will never engage in any mutiny," he shouted to an enthusiastic audience. "Yes, we admit we don't like the current leadership but we will use democratic methods to unseat them."
He went on to reference the education department's failure to meet a court injunction to get textbooks to Limpopo learners, effectively conflating his own internal disciplinary problems with the ANC and that of the soldiers' battle against the South African National Defence Force (SANDF) as part of a larger struggle by citizens against the government.
SANDF members were placed on special leave after they staged an aggressive protest in Pretoria in 2009 over poor salaries and adverse working conditions. Tshwane police used rubber bullets and teargas to disperse around 1 000 soldiers after they trashed surrounding streets, damaged cars and set a military vehicle alight.
The department tried to institute disciplinary procedures against them but was interdicted from doing so by the North Gauteng High Court in Pretoria, after an application to halt the procedure by the South African National Defence Union (Sandu).
"You have been winning court cases but the government is not prepared to listen to the courts," said Malema, who was flanked by his spokesperson Floyd Shivambu and suspended youth league secretary general Sindiso Magaqa.
Malema told soldiers that South Africa was a "banana republic" that does not follow the rule of law.
"No one is above the law, not the military, not the presidency and not Parliament. Every court decision must be respected," Malema told over 100 soldiers in civilian dress at the Lenasia Recreation Centre, south of Johannesburg.
"We must respect the courts but the leadership of this banana republic disrespects the courts."
He referenced the Democratic Alliance's (DA) battle to get hold of the transcripts of the controversial "spy tapes", which the National Prosecuting Authority had claimed were the basis of its decision not to prosecute President Jacob Zuma.
"We don't like the DA, we don't like Helen Zille," said Malema. "But she has won a court case which gave them 14 days. Now [it's] almost a year and they are not complying with that court order."
Contempt of court
The DA has lodged a court application against the NPA for being in contempt of court after refusing to hand over a record of its decision relating to the dropping of corruption charges against Zuma.
Malema continued to build a careful case against the government and particularly Zuma as its head, pointing out the legality of his challenge at every step.
"We will never engage in any mutiny," he shouted to an enthusiastic audience. "Yes, we admit we don't like the current leadership but we will use democratic methods to unseat them."
He went on to reference the education department's failure to meet a court injunction to get textbooks to Limpopo learners, effectively conflating his own internal disciplinary problems with the ANC and that of the soldiers' battle against the South African National Defence Force (SANDF) as part of a larger struggle by citizens against the government.
SANDF members were placed on special leave after they staged an aggressive protest in Pretoria in 2009 over poor salaries and adverse working conditions. Tshwane police used rubber bullets and teargas to disperse around 1 000 soldiers after they trashed surrounding streets, damaged cars and set a military vehicle alight.
The department tried to institute disciplinary procedures against them but was interdicted from doing so by the North Gauteng High Court in Pretoria, after an application to halt the procedure by the South African National Defence Union (Sandu).
Military on
Yes, I know its my forte to go on a separation, break-up spree but you have to admit that it seems to be heading in at least if not in that direction some sort of a political power shift. My guess it will go to multiple parties or dictatorial with country splitting along power lines. Ergo if you control something on the ground and can get a private army going to enforce your will that will be the objective.
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