Financial expert Dawie Roodt has explained the chain of events he believes will see South Africa follow the same path Zimbabwe has.
Roodt wrote in a column for the Huffington Post this week how South Africa’s economic woes will eventually lead to state looting of taxpayers, then savers, and eventually investors.
Where South Africa will get its money from
Given that there is a R50bn tax hole South Africa needs to fill, the state may already be moving onto those with money invested in the country (those with pensions are a particularly vulnerable target). The economist explained that SA looks likely to follow trends set by other states who have drained their reserves:
“In short, once the state’s finances reach a certain level of sustainability, a typical pattern is for a state to first steal from its taxpayers until it runs out of taxpayers, then to steal from its savers until it runs out of savers and then, depending on other things,
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