Blog 11 March 2017 The ‘Unresolved National Question’

Last Tuesday night [March 7th] I joined what seemed to be what was left of the Left, for an exploration, or possibly an evaluation, of the “Unresolved National Question “… sub headed: ‘Left thought under Apartheid.’ Having always been thought of by the Left as being on the Right and by the Right as being on the Left, I anticipated an entertaining evening and, notwithstanding its intermittently Monty Pythonesque overtones, it was.
 
I also anticipated discovering what the ‘Unresolved National Question’ was: and had not noted the sub-heading about its historical subtext?
 
Broadly speaking what was left of the Left were a most congenial, polite gathering of people who, in the most lethal of ways, could, under different circumstances, become, one suspects, a roomful of deadly enemies.
 
Perhaps, knowing how inherently suicidal the broad idea was that there was a [single?] presumed “National Question” that was unresolved; and, realizing that everyone present would have their own idea of what an Unresolved National Question would be… and that the room would be poised to slaughter anything, mercilessly, that was not reminiscent of their own pet hypothesis, the two lead speakers; plus the enthusiastic MC spokesperson for the evening’s prime sponsors, the National Institute for the Humanities and Social Sciences, managed to deliver a cluster of most entertaining, absorbing and often curiously insightful interpretations of the journey they had all gone through in setting out to resolve their ideas of what such a question that remains/ed ‘unresolved’ would be.
 
And somehow the room bought the message and we all, eventually, left happy once again, knowing that the question remained unresolved: and that the world was safe again for the time being.
 
Of course one of the important things about functions organized and or orchestrated by those who may be said to be “Left” is that, unlike, for instance, Theatrical or Corporate types, who would hand out a programme listing the speakers and agendas and some key aspects of the evening’s intentions or a summary of purpose, the old Left eschews such bourgeois indulgences in favour of an overall spirit of “last minute dot com”, egalitarianism.
 
I shall simply refer to 1st speaker, 2nd speaker; and random floor Kommenter’s plus the over all Mistress of Ceremonies and aim to avoid offence as much as they all did, since I had no idea regarding who was who: amongst the Left gathered crew: not being a Left Innie [or any other kind of Innie for that matter]. What I can say is that with one exception, and only briefly at that, the evening was conducted with an almost fascinating air of polite decorum…. That in a time of #Pay back the Money” and #Fees must Fall, was most refreshing.
 
So the first speaker opened with what proved to be an overview of what his production team had done in arriving at a book called the ‘Unresolved National Question’; and highlighted for those of us more innocent gatherers, that the period under consideration was the [so-called] Apartheid era, rather than the preceding Dispossession period: or the increasingly contentious time, subsequent to Liberation.
 
Their purpose, Speaker #1 explained was to find the “hidden voices” that had been silenced during the era 1948 – 1994 and prevented from clarifying what the real question of the times was… just in case no one knew.
 
I couldn’t help reminiscing in that moment how literally almost everyone’s voices were ‘hidden’ then on pain of retribution throughout that era. Despite all the ranting and general rage, in the present place to which the National Question refers, it is mostly normal stuff on steroids… uncool larceny perhaps rather than murderous exclusion. That time was mean vindictive and broadly driven evil … none of which has proved particularly useful for sustaining an economy long term: i.e. a Kondratieff cycle at least.
 
Just in case anyone was still confused about what the national question was; the editors point out in their foreword that this debate is not new… In fact they say ‘… the questions raised by the National Question debate OVER A CENTURY AGO: remained unresolved… So in other words if you hadn’t figured out what it was, no one was going to ‘spill the beans’.
 
The book’s foreword states: ‘The unresolved National Question’ concerns the “drive to build one united democratic nation- and is a ‘century-long discourse on South Africa’s nationhood”.
 
S#1 announced that the question was unresolved and that it was a neglected question. In konstrukting their book, they had looked at a relatively random kolektion of people’s interpretations of the Kwestion… Question, across a range of kontexts. We the reader can read all their opinions: and then have our own ‘National Kwestion’and see what happens. What was supposed to happen beyond some satori was unclear. Nonetheless it all seemed an interesting idea. As a marketer it has obvious usefulness in this regard and one could envisage it taking many strands.
 
So while it may have seemed an odd idea, to persons, such as this bloggist, who have, apparently, mistakenly considered the Question to have been answered in 1994: apparently it wasn’t.
 
In an attempt to deal with this possibly disturbing fact, the book production ‘team’ had chosen to explore the era [’48-‘94] under four different [Left oriented] themes that made up the first part of their explorations. Only then were they tackling the present [maybe] in Part 2.
 
The ‘Right”, assuming that version still persists, had their turn and it failed; and while the book pays some lip service to their vision, it was most reasonably discredited through the nastiness with which it was associated.
 
Frankly, by this time, having been only marginally enlightened as to what the National question really was: “The implicit idea inherent in the concept of “ONE NATION”; and why it [the Question] hasn’t been answered” seemed unclear. So since the enormous number of people who, it seems, have either contributed to of been associated with the kolekted viewpoints hadn’t arrived at an answer either, in this search: this bloggist did rather feel that it was a darn tricky question, for which came some curious enlightenment… Lights… action… camera
 
Speaker #1 reached a mini climax to his introduction with a resounding assertion regarding what he called “the Goals of the National Economic transformation struggle”. Simultaneously an adjacent neighbour’s struggle to figure out the video part of his Mobile’s camera thingy, whle waggling his camera/ mobile in a random manner had caught my attention. So he ‘accidentally’ [?] hit the Siri, GPS function instead.
 
Thus, into the resounding dramatic silence, contrived after S#1 thundered out: “ How does a diverse society come together and live in harmony?” The mechanical voice of Siri answered …
 
“Your destination is on the Left.”
 
The room collapsed. It was the only moment of actual apparently uncontrived humour… or a moment of theatricality, whichever it was fun. Of course no one seems sure of where Left is anymore, so the heartiness was a tad forced and short… a tension taker.
 
Then my first doubt regarding the direction the evening would take, came when speaker #1 quoted with academic enthusiasm, the late Mozambican, Samora Machel’s observation that: “For the Nation to emerge the Tribe must die”.
 
By that standard I thought we are already lost, given Ms. Nicola Sturgeon’s threat to break the centuries old United States of Britain, on the grounds that her tribe has not supported the [tribally bound?] decision for the ‘Nation’ to exit the European Union. She threatens to call for her Tribe to emerge from centuries of alleged “Oppression” in a suffocating Nation State: in order to remain part of another emerging bureaucratic plutocracy.
 
[Curiously when I mentioned that thought later to Speaker #1, in one of those momentary post presentation cocktail party type moments of brusquely interrupted discourse, he went blank at the mention of “Nicola Sturgeon” Huh Who she?, and then dismissed the Scots as irrelevant to SA’s National Question. And that is only presumptively true. Presumably too by the same logic he also may dismiss BREXIT, and Geert Wilders not to mention the recent stunningly unexpected accession to power in the centuries old nation called the USA, of Mr. D Trump, riding on the crest of what Mr. DJ Vance would call a “Hillbilly revolution”. Now there’s a ‘tribe’ deluxe: in league with atomising ephemeral ‘tribes’ on social media.]
 
Speaker #2 picked up the general theme of what he alleged to be the ‘failed revolution’ amongst the ‘Transformation lobby’ when he announced “You fought for Liberation but settled for Democracy” “Freedom is not Arrival” he thundered… and the reason why the National Question is not resolved is because “… we are forgetting to remember.”
 
And although my first thought then was Milan Kundera, I then remembered that I had thought that Freedom involved the grand pleasure of naughty activities played out for a change on a goose feather bed… ah the vagaries of memory… and freedom’s simplicity.
 
Speaker #2 was apparently another Professor, presumably of something Political, as he insisted that ‘The State’ was in the hands of those who had lost empathy with the people, and that the citizen [presumably] had to reassert ‘Control’ of the State by disinterested persons’… a statement that seemed to be code for “Thieving corrupt self interested persons are looting the State’s resources instead of doing the job they were voted/employed to do’… certainly a position that found favour with the now largely enthusiastic audience.
 
And the idea of ‘disinterested persons’ was poignant for me, given that a recent shock phenomenon [whenit first happened] in the assessment answers I get from my more, disingenuous or perhaps naively innocent teenage Business Studies learners, is the rising refrain that reads “It is best for the government to own your business so you can get rich.” When the children of Public service workers present public service as a route to riches: as a goal, rather than the high-risk route of Entrepreneurial endeavor, then we know that we are in deeply unsustainable territory.
 

Then he S#2 launched into the now mandatory refrain regarding the idea of transforming the State through dekolonising the structure of thought that governed its behaviour… ‘The goal is dekolonisation’, he said… So was this the New National Question, I wondered?
 
I did find his idea intriguing though, that he regarded the Kolonization era as having its roots in 1492 rather than 1652. And as he reached back to castigate the past, the idea of a ‘National Question’ seemed increasingly irrelevant.
 
Logically the pre- kolonialized reality is represented by the idealized vision of a world, before rotten foreigners came and despoiled everything; in the interests of looting the resources of the Kontinent. And then those same rotten foreigners just accidentally ended up moving from Koloniste to mean spirited Settlers: and should go away without a please. How to get them to go is the implied National Question for a rising number of commentators… [So far triple BBBEE seems to be proving effective.]
 
That pre-Kolonization world though was inherently a world, in which [in John Reader’s inimitable description] the ‘People” lived in a state of “biological equilibrium with Nature” … In other words even more recently, in this Bloggist’s rambling traipses around the Kontinent over the past four decades, it was normal on reading the local press in overnight hotel rooms, to routinely find reports of local people being killed by wild animals… Usually some poor sod stumbling from one place to another while loaded with congenial liquids: taken out by leopard/jackal/wild dog/buffalo/snake bites/and more. Presumably in the Pre Kolonization era life expectancy was less than half of today’s not particularly generous level.
 
Thus isn’t the entire point of Civility to overcome such vicissitudes of nature. And surely the point would be to expand a working model rather than usurp it and simply alter its contents. So what would a decolonized world/country be like, given that there was no civil model that was “Kolonized”? And could this be the real “National Question”?
 
And in the spirit of remembering to which he had just referred; I remembered that; in a 30 second exchange with Mr. Robert Mugabe in the foyer of our mutual publisher, early in 1980, just prior to his winning the 1st post liberation election that year, he had told me of his intention to return his country [today’s Zimbabwe] to the dekolonised status it aimed for in 1650 [Two years before Van Riebeeck] when his ancestors, had successfully fought, beaten and driven out, a near century long era of Portuguese ‘Kolonisation’, of the, then, Rozwi/Changamire State.
 

It was a statement that in retropect lends serious credence to the 1492 hypothesis.

 
And it was a goal he has succeeded in achieving wouldn’t you say? Thus De-Kolonization 101. Was it a ‘worthy’ goal, in retrospect: or does it fall more conveniently into the adage of being careful about that for which one wishes lest …. That question is still open too.

 
I also noted a radio news report this week that the same man, [whom I like to call ‘Bob the Roz’], has called for ‘someone’ to lend him US$100 million to repair the roads the more recently expelled, later Kolonizers had built: [via exploiting the indigenous labour] and which have now apparently fallen into terminal disrepair.
 
Of course that could have been ‘fake news’. And anyway perhaps tarred roads are not a Kolonizing instrument… [well they are] but simply a sensible way to develop a place?
 
Certainly though, the beginning of the Kolonization period was a time before ‘National’ in Afrika was conceptualized. Therefore Dekolonization should, logically seek a return to the borderless regions of Afrika’s past: and yet no reference to the apparent “death” of Mr.[Thabo] Mbeki’s Afrikan vision was to be heard. And obviously too this is a most narrow interpretation of what the real Dekolonization means.
 
Eventually reams of Kommenter’s rose to ask the usual, ponderous, kontext loaded questions that rambled further and further from whatever point was being sought. The audience fidgeted with the idea of “What the National Question” really was; and why no one was calling for… for instance… the “shooting of the Boer” or something/one closer to home… or even just ‘expelling’ the pestiferous and inkonvenient Koloniste ‘Settlers’?
 
After all 1492 was not only notable for Mr. Columbus and the opening of the Americas, the unintended wholesale extermination of the indigenous ‘Amerindians” as a result of inadvertently imported pandemics; and the subsequent triangular slave trade to compensate for the loss of labour.
 
It was also the year the newly merging ancient Spanish rival houses combined in marital unity and then forced all Muslim and Jewish people who had lived in Southern Spain for centuries, out of the country with about three months notice. As recently as only in the past few months has the present Spanish government made overtures to remedy the injustice.
 
Of course the gathering was much too comfortable to actually flirt with such a rude idea. In fact it is possible that some members were descendents of those who were expelled so far back… [In the case of possible Jewish attendees, those known as Sephardic for instance: known for the place that gave them refuge then] So that particularly unpleasant topic never came up… simply hovered… hints here and there.
 
Well that wasn’t strictly accurate, because one, possibly well lubricated gentleman, [wine was liberally available from teams of enthusiastic wine deliverers] leapt up to take his turn with the hand mike, to announce that he represented the dispossessed KoiSan who were: the true owners of the National Question [whatever it was] … and broadly implied that all property was theft and that the land invaders should “fuck off” and give his people their land back… ALL OF IT.
 
He was politely ignored: albeit I did feel he had a point.
 
In many curious ways, the moment I found to be most profound came in S#1’s response to a question raised by a Professorial addressed person sitting in front of me.
 
After the long, mandatory context creating k0nstrukt period he somewhat demanded to know why he [S#1] thought that the [SA] Kommunist Party and other special interest groups on the far left had chosen to support, what they had previously criticized as a “giveaway” liberal Konstitution…. And by corollary why was the Liberal [despised] Konstitution allowed to provide such roadblock preventions to restrict the ongoing nature of the stalled Revolution.
 
In brief, the response was that much evidence kolekted indicated that brutal treatment by [now] ruling party cadres in the old Liberation camps [Quattro et al] during the [actual] “Struggle” had convinced sufficient party loyalists that proven safeguards were necessary to restrict the possibility of such abuse in the future.
 
That was for me the “Aha” of the evening: the Yin to the Yang.
 
Eventually though the Phrase “National Question” gradually became a mantra repeated ad hoc and ad nauseum by all speakers, kommenters and even the MC; and eventually Speaker #2 confounded the room by announcing that Transcending the National [Question?] was part of the “Struggle’ and that the National Question was really less relevant, than the greater, ‘Global Kweschun’ … a strategy that always, it seems, works to defuse all arguments: and reduce them to timid pretensions.
 
‘The Witch’ he concluded “is in the new Order, a convergence of random traditions’. On which reasonably profound and enigmatic note the presentation ended.
 
The lady sitting on my left, someone I remembered being linked to by alphabet from a first year English Tut group back in 1967… suggested that she was experiencing a “whole different language… like being on a different planet.’ She said.
 
My own interpretation of the National Question was the unspoken “What to do about the pestiferous Koloniste who, seemingly, as one speaker had observed during the evening: ‘ Make independent original thought impossible’.
 
Looking around the room in which we all had enjoyed a most pleasurable evening I could see that my version of the ‘Question’ was inevitably going to resolve itself. Once again I was struck by the growing reality that every Koloniste example in the room was either as old as or older than me and my 1967 fellow colleague and the former activist author who had accompanied her, who was a good sixteen years my senior. This is something most noticeable in my local shopping centres, and my Learner’s often mention that the handful of light textured learning mediators on the institution’s staff complement are almost the only such persons that they ever see. In fact in relation to a country of nearly 60 million persons… the Koloniste are almost vanishing.
 
On the other hand the liberated part of the gathering, who were close to more numerous, were for the most part below forty…ish.
 
The reality of the national question therefore, is that the implicit idea of the diversely populated state; and how could it achieve a cohesive future, would inevitably be tempered by natural attrition. The Koloniste class, is now seemingly operating on an awkward inverse pyramid, whereby the aged and ‘Baby Boomers’ are the top end majority; and the Millenials are in short supply lower down.
 

This could be because they are heading increasingly for opportunity now denied them here… partly due to the economic stagnation or because they see their future restricted as the english were for decades under the boer period of Kontrol. So the pestiferous part of the population will gradually winds down to a 1% [of so-called Whitey] with loads of wealth: and a marginalized handful of Neo-‘Bywoners’, many of whom would inevitably drift into a working handicraft class or become new additions to what seems to be a growing hard case “criminal’ class if they haven’t already.
 
I was also reminded then, in that observance, that it is more than a decade, since my classes in the Independent school sector of the economy had more than the occasional random great grandchild of some original Kolonistés, amongst the Learners. And in looking through the photos we take of the crowds at inter-high sports events, those self same great grandkids are similarly, only occasional: and then thinly sprinkled amidst the greater mass, indicative that mine is not an isolated experience. And such exceptions as there are, are hardly disproving this growing rule.
 
Surely, If Dekolonization is the goal then is it not time to take seriously the late Kepple-Jones’ position, taken from his 1947 work “When Smuts Goes”: that the name South Africa is a [so-called] WHITE Konstrukt and the revolution must stagnate in an untransformed state of beleaguered Kolonization, until the inheritors change its name to something more indicative of unfettered kontrol.
 
Perhaps the [sub] National Question should be: what to call this liberated new Nation State at the long end of Afrika. And perhaps we should do it before the potholes take Kontrol and the road networks entirely disappear, as they apparently do in other decolonized zones… again, assuming such reports are not ‘fake’.
 
But then perhaps that would be too serious. Which is why that part of my Podcast serial: ‘the Jonker Memorandum’ set in the 22nd century, has ‘vehicles’ travelling by a form of ‘hovercraft’ process, because the roads have in ‘fiction’ vanished by that time.
 
My thanks to the organizers: Wits University Press and the redoubtable Corina van der Spoel for her usual superb organization. And thanks too to the wonderfully enthusiastic host team from the National Institute for the Humanities and Social Sciences for a most enjoyable, almost old fashioned, evening of pleasurable provocation.
 

Money from Nothing

Money from Nothing*
 
“The road to inflation is paved with good intentions.”
 
-William Guttmann
 
This quote was in my face when I opened my mail this morning and it seemed apposite to my thoughts when I purposefully made a rare pilgrimage through a less travelled over [for me] part of the city to my old University to hear a talk and the responses to some questions put to the author of a recently launched/ published document/book on the mechanics of the Mzansian private Kredit industry. This refers to the southern part the Azanian Konfederacy in which I live.
The relevant document: ‘Money from Nothing’ by one esteemed Professor D. James at an important London based University in the frozen offshore region called New Pomerania.

 
Selling tomorrow today
 
 

The presumed role of
The illusion called
Future
Is that it is
Real
And we sell it
As if it were
Not.
 

Selling tomorrow
Today because
Tomorrow
Never
Actually
Arrives.
 

So take two
Futures
Now and when there’s
Less
Later
Shift over
Drives
 

And when is this
Later?
 

It doesn’t
Matter: we can choose
To imagine it
Again
Should we sell it
Once
For we simply sell
It
Again and
Again
And
It never has to pay
Rent
Since there was never
Consent
 

Future sold is
Future
Bold
The extravagant idea
That there will
Be a tomorrow
Later.
 

And what then is this
Later
 

Take two now
Hurrah!
Get less
Only
Later.
Will it be less?
Won’t it be more?
 

And then
What tomorrow?
Where
Is this time
Beyond
Care
This is unclear:
Unclear?
And how should we
Presume
It
To be
Linear?
 
!NIK[‘15]
 
—— 00000 ——
 
That was the short version of my experience at an invigorating recent book launch [15 April 2015]. The rest refers to its inspiration and may be heavy going for those with a delicate attention span. Better to stop now and press a button somewhere so I can get paid.

 

Oh still here? Alright… even my ancient mother gave up here.

 

So for those, who prefer prose, this is the short attention span summary of the point of this blog in case you find my long discourse later boring or too confusing: which is much the same thing.
 

It seems the level of Private Kredit in Mzansi is huge... although no figures were obtainable from the text of the Kredit related book launched at the packed Wits University Press event in their austere facilties on the 16th April, because, as the Author observes on page 147: “the book’s primary aim: to view questions of debt in their broader social context.”
 
Presently Public debt [in Mzansi] is R1.8 Trillion against GDP of R3.3T. This sounds reasonably good [compared to Greece for instance] until you realise that 23% of GDP represents State expenditures of one or other class.This is suggestive of a high level of so-called hypothecated tax payments. [ I,O,W:This means that so-clled “real” GDP is closer to R2.5 Trillion of real value creating activity… from which should be also subtracted the expenditure on Private security that is more properly a transfer payment contributing to the hypothecation base.] [figures extrapolated from latest Budget.] I.E.: The ‘real’ debt is more like 70% of ‘real’ GDP and is growing fast; and we [the country] are at the absolute bottom of an historically unprecedented, fairly flatlined, gasping towards respiration: global interest rate cycle.
 

Our society is presently in shock over a wave of violent unrest that has affected important parts of the country, suggestive of a high level of stress and anxiety over “competition for scarce resources”, and inexorably rising costs. [A recent Deutsche Bank survey showed my home town, Jozi to have moved from being the third cheapest city in the world in 2001 … into far more upper divisions in 2015, an impression confirmed by various visitors over the past couple of years].On the other hand, unemployment is at levels that make Spain look like it’s roaring ahead as robots replace humans in key categories, changing the world and us. Leaving us with street-loads of unemployed; perhaps even unemployable, persons fueling up on rage….
 

Into the mix is a rapidly evolving digitally based global economy which, through a combination of disintermediation and disinflation means that our relative rate of economic inflation is faster than that of all our main trading partners.
 
To highlight this process a pattern of negative interest rate yields on public debt has been a key shift feature of the past year in the Euro zone culminating in a first a fortnight back when the Swiss ‘sold’ TEN YEAR PUBLIC DEBT on the basis of a small fee payable: a negative interest rate. In other words they charged people to look after their money. And were oversubscribed.
 

So the real question is, given the high level of private/public debt and the minimalist rate of growth. What happens in the “socio” world of your [the author’s] study when interest rates start to rise sharply across the planet for those places considered ‘risky’ as they will do over the next twelve to eighteen months?
 
——–0000000——-

 

Okay. The rest is me ruminating over how i eventually got to the point of the question; and it is really written for those few people who like a great deal of detail with their snippets of insight.

 

“Money for nothing and your kicks for free”
Dire straits.
 
I have a post-retirement paying hobby, mediating on the knowledge acquisition process, as applied to 9th grade economics, in an old eastern quadrant of the city, Jozi, where I live. Once this was called “teaching” but when the minion, in front of one, has instant access to a billion pieces of information, off a machine in its hand: then mediating is about where it’s at.
 

My learning minions come from a variety of places on the Afro-Azanian Kontinent, ranging from the next street to north of the Sahara; and the role of Kredit in their lives is as paramount to their survival, as it has been to mine. Knowing how it works though is integral to their learning objectives.
 

So when I received an invite from my old university to the launch of an in-depth evaluation of socio factors driving the Kredit business, I am ‘required’ to know about it, and accepted.
 

Of course I am also something of a retired ‘Mashonisa’ [debt collector*6] and one of the fun moments in the evening’s presentation was the assertion by a speaker, that the day of such persons who ‘collect outstanding debts’, sometimes in a manner ‘brusque’, being needed, had been supplanted by new banking forms that made them redundant. Yeah.
 

It was at that point that I realised I was in ‘odd’ company for people professing concern for the “Money” business. But I get ahead of myself.
 

As I drove west across the inner city from my workplace; to the venue on Wits’ East campus, I was pondering a money relevant event. I had been puzzling over it randomly since the previous week. I was wondering too whether to test it and how to integrate the implications of a shock event into the evening’s information. I was also distracted because I was unextectedly and unusually detoured from the planned route and required to skirt neighbouring, more inner city zones, [compared to my workplace], because of imperative and immediate security concerns over erupting civil unrest activity, that had become violent.
 

So at the same time, the idea that was rumbling in the background of my thought while I drove, was only rumbling: because immediate survival required driving that now deviated route in tandem with multiplicities of ubiquitous rules-deaf taxi men daring tarmac, between random old ‘toppies’ [me] and tone-deaf ReaVia busses. ‘Dancing without glancing’ was the real priority thought… Then there was the information, prompted by a news station report on the car radio, regarding a shooting incident in a zone I had just vacated. “People were being shot, on the streets, in my part of town… So if you’re in that part of town…Stay focused.” So my thought got crowded and remained unformed.
 

In the event I never got to air my thought, in question time partly because the guest speaker opened by stating that she was no economist; and dealt only with debt in the more personally abstract anthropological sense: and wouldn’t therefore be of any use with economic oriented questions.
 

So I would have tossed an unformed thought before it could become a useful question and anyway needed more space to ponder it, given a veritable coruscating flood of new information pouring out of the evening. The back up speakers, one of whom was described as an informed Accountant; and even the questioners, seemed to be people from a money unrelated world. They all seemed oddly out of sync with the subject matter and more in keeping with the philosophy motivating a second book on display, that I whimsically additionally chose to purchase. [it was also on discount] I was attracted by what the late Mr. Bakunin allegedly once described as a “prime Oxymoronic description” on a corner of the dustcover, i.e.: “Democratic Marxism”.
 

And then I was scheduled later that evening to be in conference with a person from a thriving business in the [so-called] “New Economy” [she told me she worked for ‘one of the world’s biggest data holding companies that you’ve never heard of’: a name I instantly forgot.] in which the purpose was to drive precisely driven advertising to a specifically, almost personally defined, target. Was this Marketing nirvana? I needed to rush, long before the presentation ended, wondering whether that nirvana would also target those with means to pay as well… while wondering about what i had heard.
 

The real surprise to me in the presentation was to discover the sheer magnitude of the Kredit Industry in Mzansi, and the extent to which the local model has permeated the entire Kontinent. That we have some of the world’s highest ‘cost of credit’ was noted, as well as the idea that we are the only place on the planet that protects debtors to the extent that we do: and that this was an inherently fudged [or perhaps fudge-able] process. I was curious too about the ABIL collapse [2014****] touched on by one speaker, that I saw at the time as a “Dark Swan*” event …
 

As it happened the event [ABIL’s collapse] coincided with that part of the economics course that deals with product life cycles [PLC] and provided minions with a perfect narrative for the learning of the term… “Slippery Slope**”… the ‘dark swan’ trigger event being an earthquake in the Orkney region of the North West Zone of the Mzansian edge of the Konfederacy. It was later obvious to those with perfect hindsight, that ABIL itself was riding a fairly extreme Leptokurtic curve. And the sub question to the end question posed by the time you finish this is: Where is the rest of the Mzansian Kredit market on a Konstructible bell curve: is it reasonably Mesokurtic or like ABIL are we riding something more Leptokurtic.
 

A questioner raised Korinth Starr’s “Basic Pay” idea in its antiquated form*4 “Basic Income Grant” and the thought/questioner, was summarily, but nonetheless curiously, dismissed by the accountant. Curious because it should be obvious by now that the present ‘new economy’ business model, cyber based as it has become, is a model for a bizarrely destruKtive code of work eradication; as robots replace people. [ I will refer again later to this Robots replace workers idea under the intro: ‘Konsider’].
 

We are in a world of radically declining “JOBS” [as Korinth suggested 20 years back now]. Reality suggests: ‘Telkom created jobs Twitter decimates them’ … albeit in tru-post Luddite forms the new economy seeks critical thinking, sharp witted, multi-talented minions. For the rest who cannot measure up to that. The inevitable outcome of that form of Marxian economics that broadly despises enterprise, especially small enterprise, is that Basic Pay is as inevitable, as the growing understanding that the present Internet model took a false turn and [yet another] intervention shall become imperative to calm the storm we experience around us not only in Mzansi but simmering all over the planet: fuelled by free goodies.
 

The reality of the fact that almost a quarter of GDP in Mzansi is simply hypothecated tax revenues was politely not mentioned since it was an ”economic” question. Perhaps Marxian economics doesn’t run to rationalizing sinecures. It is hovering territory however for dark swans. And there seems to be looming labour unrest in that region as well… debt fuelled in the new incalculable age of relative devaluation.
 

Another surprise. That the urge to spend is so prevalent and ingrained and inherently compulsive that even the venerable [so-called] ‘Stokvels’ [savings mobilization] institution has been morphing, in the way of its signature ancestry, the now demised “Building Society Movement”, into becoming financially institutionalized as a ‘spend-now’ agency.
 

And that the upshot of this is that ordinary People [now] have little choice but to SAVE in Banks: but that Banks LEND only to Corporates, and even then, only with the usual circumspection.
 

In other words the only real source of ‘Kredit’ for the kommon citizen [the new “kommoner”] was this ubiquitous new/old mass Micro lending market evaluated in the launch tome: ‘Money from Nothing’ and ranging from the routine, time served, furniture outlet, to the newly affluent otherwise unemployable private lending institution represented by ordinary persons: recently and lucratively ‘dispossessed’, in the process of realigning the economy to satisfy the new demographics of freedom…
 

And then in amongst these extended arms are, of course the ‘more new’ [despised apparently] competitors… the Kredit extending ‘Korner Shop’ … the apparent targets of a suicidal wave of violent and antipathetic destruction bordering on genocidal rage, that has so traumatized our city that Saturday night [18 April] was the slowest I have witnessed in years… It felt [for instance] like midnight Sunday almost all over Melrose Arch; and an early Saturday evening drive from OR Tambo airport to the Melrose place in pursuit of a cheerful hostelry for a snack was like driving through a cemetery, not a taxi to be dodged, the traffic was so thin. Weird. Was this part of a proving ground for that swan?
 

Which meant the questions if not the answers, provided an insight into the ineffable Mr. Smith’s “Invisible Gland” [sic]. That synergistic confluence of self-interests when a class of disaffected Cash only/money for nothing [much] Competitors share commonality with those customers who buy from a growing class of credit extending ‘korner shop’ competitors at the bottom end of the market, All of whom learn abruptly that the most effective way for the deeply embedded debtor, to get out of debt is to liquidate [en-masse and literally] the creditors; as our country has exploded into an orgy of otherwise incoherent allegedly [swiftly airbrushed] Afrophobic rage… an example of which was represented by the street shootings referred to earlier while driving to the launch, when a refugee class of pedestrians, allegedly from a failed zone to the north of the Konfederacy, were apparently attacked and shot at by mobile gunmen.
 

Therefore I wondered at the scale of the private debt being described, connecting with another looming confluence, presented by my earlier background pondering thought, subsequently shelved due to its internal incoherence [to me]; and wondered at the pattern, whereby the price of an infinity of futures is/has been, routinely mortgaged. And then, how there are some unanticipated changes recently as [for instance] the mounting range of the new ‘App’ revolution encroaches on structure, threatening everyone from the General Practitioner on the corner to chefs, drivers and security guards. And whether the entire ‘Money from Nothing” konstruct is bordering on implosion under the strain of what is, by historical standards, infinitely hypotheKated credibility.
 

And the deeper question?
 

Who shall then pay the piper?
 

So: What is this problem to which I have now referred a few times?
 

In this past fortnight the Swiss have launched and apparently sold out a modestly valued ten-year bond. In itself this is not unusual. The Bulawayo City council in a financially problematic part of the Konfederacy, in the region called Monomutapa, is presently advertising bonds to finance its water development schemes. It is a long-standing and normal method of public or corporate financing. I do not know the price of Bulawayo’s offer. Greece is presently operating on an effective current yield around thirteen percent per annum [20April 2015], so it would presumably be positioned somewhere in that range.
 

What is different about the Swiss sale was the price. As the following quote from the [London] Financial Times: FT>Markets demonstrates. [The bold type is mine, as is the grammar correction “past”]
 

“Bonds with negative yields have become one of the world’s fastest growing asset classes, accounting for around a quarter of Europe’s government debt market. In the last [past? Unless they believe this to be the LAST year ever, which of course it could be.] year Germany, Austria, Finland and Spain have all sold shorter-term debt at sub-zero yields.
 

But this is the first time that investors were effectively charged for lending money to a government for such a prolonged period. They bought SFr232.51m (€222.4m) of Swiss debt that will not be repaid until 2025 at a yield of -0.055 per cent — and the issue was comfortably oversubscribed.”
 

http://www.ft.com/intl/cms/s/0/35ddc68e-dde7-11e4-8d14-00144feab7de.html#axzz3XhAtxenE
 

This fact was presented by Susan Li, the lady that hosts the morning “Asia Edge” show out of Hong Kong off Bloomberg last week, using a variation of what ‘rich dad poor dad’s’ creator, punts sometimes, as the marshmallow theory of investment educating.
 

She offered a range of front line, investment analyst class, guests, the standard choice: have a marshmallow now; or if you wish to wait a while you can have two. [Handing marx=shmallows [typo seemed apposite: sic] around seemingly to demonstrate that she wasn’t tricking them]. Keeping it hypothetical. She smiles with such crafty elegance.
 

What the Swiss are saying, she continued, was “Here’s two marshmallows now, but if you are prepared to wait you can have one”. She held up the last marshmallow.
 

Ok. Explain this paradox. She said.
 
The “Asia Edge” guests were unable to offer an explanation. And nor could I. I was as dumbfounded as they were.
 

So, what are the implications of a rising tide of negative interest rates for the future of the Mzansian ‘Money from Nothing’ macro-environment? Is this a trend of minimal duration… or is it here for the duration?
 
So that, in a considerably less formed manner, was the question I thought to throw into the ring.

 
German bond yields are down to around zero, and for many years now companies have borrowed money in the Japanese markets at close to zero and loaned it here in the Mzansian markets at above 5%*** as part of the well worn, so-called: “carry trade”. Specifically a business linked to a former [US] Presidential contender borrowed thus and loaned R25B, in particular, to one, then Listed entity, that subsequently bought out its shareholders with the loan that was [naturally] taken up by the lender, and that, the then privatized entity, is still so brutally encumbered both by its leaden repayment schedule; and the economy’s stagnant growth prospects, that it routinely sells off parts of its asset base, presumably to remain solvent. The point of borrowing is to cover the cost with income growth.
 

This means the the 9th grade minions will also have to note the fact, routinely misunderstood by so many of their elders, that Ten percent [10%] is 100 percent higher than the 5%. 500-year average ‘risk value of money’.
 

Over the past few months though the Swiss and other mainly northern Euro zone countries have started charging people to hold their money instead of paying interest. This means that the gap between the risk content of the Swiss holding your money is at least 1000 odd times lower than 10%, and based on what was said at the Presentation, personal debt costs, is at a risk boggling 2-3000 percent, over the [now] ‘best’ world price.
 

And what if inflation over the next decade only affects those places that are over borrowed?
 
So what it seems may be happening, I thought, subsequently, in one of those serendipitous ‘mind applied’ moments that leave you thinking: okay that was obvious, how come it took a week to figure it?
 
The Swiss decision suggests that, given the [US] Dollar based world has had some four trillion dollars artificially fudged into it on a scale that makes Mr. Mugabe seem parsimonious; that thereby they [the US] through an activity euphemistically called Quantitative Easing [QE], – are laying the ground for the most massive devaluation of money in since forever… [For the less informed, devaluation of currencies is Orwellianly described as Inflation so that it sounds less ominous.].
 
Now the Euro zone is going to do the same [Quantitative Easing] in an attempt to kick-start the Euro economy that has been rendered impotent through a century of well-intentioned Marxian economic interventions to protect the weak, infirm, and judiciously under-employables as the world replaces low level workers, and even high, with robots: computerised solutions to vexing problems. So they [the Swiss] are effectively saying you are giving me money you got for free and I’ll charge what it will lose in value over the next period of time. You can’t pay ‘value’ [in the form of interest] for free money.
 
This is a significant move that holds ominous overtones.
 

And what is interesting then, is why the ‘discount’ [0.055%] would be expected to be so low since the dumping of fiat money on a much smaller scale in the past led to pandemic devaluation…
 
So the more complex question facing our publishers: Are the Swiss evaluating the long term [i.e: ten year] implications of a world in which [selective] abundance has devalued almost all human interactive activity to the point where everything [almost] is for free.
 
Konsider this. [I did mention this was coming earlier didn’t I?] There is a man who can proudly say he has a billion slaves working for him; kollectively working hundreds of millions of hours weekly: and he has become fabulously wealthy.They even pay rent and happily expend capital to give him [and alternatively many of his associates] their labour with enthusiastic vigor. And then the slaves want to rebel and riot because they get no pay from their ‘real’ jobs and those jobs slowly went away.
 

Is that an odd way to describe the phenomenon called Facebook and its associated tech freedoms that have obliterated the value chain of global society? Nonetheless this counter intuitive ‘labour for free’ model is part of the reason for a global shift in value. Couple this phenomenon to the cheap labour role of the emerging South and Southeast Asians damping down the inherently Inflationary effects of QE; and viola we have a new economic model apparently overlooked by the local new Mzansian ‘spend like there is no tomorrow’ at extortionate returns model that is soaking up cheap imports from those regions
 

So what if the inflationary effects of the ‘announced’, bartered, hypothecated QE trillions; [or is it now quad zillions when taking derivatives into consideration] can be put off for the next ten years at least [they are ten year bonds remember] Would the more likely trend be a continuation of the presently disinflationary ‘teens in the [so-called] “Developed world”. And the question that really begs answering by the gathered information Kollektors is…
 

Could this then mean that those places where debt is charged normally at levels once considerate extortionate, as the second speaker said of Mzansi: face an inevitable explosion – a financial apocalypse- when inflationary costs persistently overrun income, and money is no longer free.
 
And what ‘Dark” Swan event could trigger that?
 
And for me…
 
What then will my 9th grade minions learn?
 
Keep your data in a secure Cloud?
 
!NiK[15]

* 1 ‘Dark Swan’ event; a term used to describe an unanticipated, catastrophic intervention/disruption to an existing, albeit peculiarly strained, established order. Usually [thoughtlessly] designated with a colour code specific, that has been altered for purposes of mediating a thorny part of the transformation agenda.
 

**2 ”Slippery Slope” Modified reinterpretation of an old Marketing Tool by Mssrs Stephan, Power et al: ‘The Scramble for Afrika in the 21st Century: A view from the South’. Renaissance Press, 2006. P37.
 

***3 5% roughly the developed world’s five hundred year moving average percentage for relatively risky trades. Moving higher as the risk becomes less predictable and retrieving the loan becomes more tricky and costly, perhaps even needing to be ‘written off’. Yields, naturally vary considerably more than that.
 

****4 ABIL Afrikan Bank Ltd.A giant, listed “money lending’ bank. Share price plunged from 4400 at 08.30 to 0027 by 16.40 Bank was subsequently ‘rescued’ by the national reserve bank.

*5 Basic Income Grant… You’ll remember Starr famously stated “Grant me no favours Basic Pay is mine by right…” Jonker Memorandum by Nicholas Jakari.

*6 See: ‘7 Ways to get your money’ by Nicholas Jakari.