Nationalisation of mines is on ANC agenda

Seems the Communist Govt. of South Africa is chaffing at the bit to Nationalise the country's mines. South Africa is currently the worlds leading supplier of Platinum and 4th largest for Gold. Of course any talk of nationalisation is going to scare off investment dollars for new mines and the expansion of existing mines - let alone the disaster that would occur if the Communists think they could actually run the mines themselves.





From Timeslive:

Nationalisation of South Africa's mines is on the agenda for this week's national general council of the ANC, but no final decision will be taken until 2012, says ANC secretary general Gwede Mantashe.

After a series of mixed signals, he told reporters: "The question of nationalisation is going to be debated, views are going to be expressed."

At the same time, however, Mantashe rapped the youth league over the knuckles for trying to force its proposal on the broader ANC.

"What we are raising is that if you table an issue for discussion in the ANC, never pretend to have a monopoly of wisdom on that issue. Open it up, allow different views to be expressed. Nobody must be supressed, nobody must be intimidated," he said.

Malema has repeatedly warned senior ANC leaders and the party's alliance partners, the SACP and Cosatu, that anyone who opposed nationalisation would be brought down by the youth.

Mantashe said the proposal was on the agenda for discussion in the commission on economic transformation, which would also look at the role of the state in the economy, the correct influence of the public sector and other aspects of a developmental economic strategy.

President Jacob Zuma was widely interpreted to have put a lid on the nationalisation debate when he said in a departure from the prepared text of his opening address yesterday that the NGC was a review meeting and not a place to introduce new policies.

Seen alongside his stinging rebuke for the Julius Malema's Youth League, Zuma appeared also to be stifling its flagship project.

But Mantashe praised the ANCYL for raising issues about economic policy that needed to be debated.

Does Silver's 'Smooth Ride' Lead Past $30?

By Jeff Nielson:

Regular readers will know that I shun short-term charts and "technical analysis". Such tools carry a low degree of reliability, since they are built upon numerous false assumptions (beginning with "free and open markets", and "perfect information"). I submit to readers that markets have never been less "free and open", and information has never been so far from "perfect".

Worse still, almost none of the people who engage in such analysis have any theoretical training in statistics. Lacking such education, they are simply oblivious to how much accuracy is lost with such tools - when we shorten the time-horizon.

Long-term charts, on the other hand are an entirely different matter. The much, much higher level of reliability which is provided by a longer time-horizon is a powerful compensating force versus the margin of error caused from using flawed assumptions. Relying upon superior tools inevitably means greater clarity when analyzing any particular market.

In the case of silver, when we begin looking at longer-term charts, there are a few obvious facts which leap out at viewers, and some which are perhaps not so obvious. To begin with, unlike almost any other market, silver never goes sideways. It is either moving strongly upward, or strongly downward - reflecting the "struggle" between market-rigging bankers looking to keep silver grossly under-valued, and the even more powerful force of supply-and-demand.......read on

Weekend Chill out

Australian Rock Legend Paul Kelly and Sultry Katy Steele of Little Birdie in the best matched duet on the TV quiz show Rockwiz