Friday 5 July 2002

African gold standard?

Those of us concerned about the stockmarket bubble created by the fiat money system may be thinking about the attractions of hard assets. But this shows that politicians can be a threat anywhere:
Mbeki and Mlambo-Ngcuka will have to work exceptionally hard and cleverly to assure investors that the Minerals and Petroleum Resources Development Bill is not the beginning of another stereotypical African slippery slope.

It looks like one to me.