It is very revealing when people who allegedly subscribe to Marxism ignore the misery imposed by the South African Reserve Bank on the working class and the rural poor over the last 20 years. It is even more revealing when the same Marxists congratulate the newly appointed SARB Governor who reigned supreme when neo-liberal policies was advanced by National Treasury under his stewardship as Director General. If this is not spitting in the face of the poor than I do not know what is. The so-called 1996 Class Project has swallowed those who so aggressively campaigned against it. If we were to do an audit of what SARB did (or did not do) for the working class and rural poor over the past 20 years, it shall be revealed that interest rates, inflation targeting and the general fiscal and monetary policy direction has painfully brought misery and nothing else. SARB remains one of the few Reserve Banks in the world that has private ownership who then dictate the agenda (which is not developmental, job creating, expanding the industrial sector, etc.) for the profit motive. Ja-Nee!
Posted on: Tue, 07 Oct 2014 11:11:36 +0000
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