By Steve Dellar   |  09-02-2018   News
Photo credit: Twitter | @EFFWarriorPublications

During the 2007-2008 financial crisis, many in southern Europe and the US were unable to service their mortgages and therefore left their homes, fleeing either for another country (in the case of Europe) or just returning the keys (in the case of the US). Whereas the mainstream media continues to claim that the expropriation policy of the South African government is a ‘white supremacist conspiracy’, South African banks are taking no chances. One of the five largest African banks, Nedbank, sent a letter to farmers who currently have a mortgage with them, informing that “bond payments remain due” regardless of any expropriation, “with or without compensation.”

Related coverage: <a href="http://thegoldwater.com/news/34842-South-Africa-Trump-Is-Misinformed-On-White-Farms-Seizure-Reddit-Censors-Discussion"> South Africa: Trump Is ‘Misinformed’ On White Farms Seizure - Reddit Censors Discussion</a>.

The email stated: “Dear customer, thank you for the query you have raised with regard to the impact of land expropriation to your bonded property.”

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">As South Africa devolves toward a failed state…the banks say those with land seized still have to pay<br><br>I get it - but what a mess<a href="https://twitter.com/search?q=%24usdzar&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$usdzar</a> <a href="https://t.co/chNdTLNCxE">https://t.co/chNdTLNCxE</a></p>&mdash; Greg McKenna (@gregorymckenna) <a href="https://twitter.com/gregorymckenna/status/1035096105594191872?ref_src=twsrc%5Etfw">August 30, 2018</a></blockquote>

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“Nedbank is not privy to what provisions may be made for land purchasers whose land is encumbered, and what the proposed Review Committee would come up with to address this. However, we believe a balance needs to be achieved between the parliamentary agenda, and in particular the law of contract.”

“It is important to note the Home Loan agreement is subject to a contractual agreement, and bond payments remain due and payable until such time that the bond is paid in full irrespective of any form of land appropriation — with or without compensation.”

As was to be expected given the uncertain circumstances for South African farmers in the current political climate, the email sparked outrage.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">This is why Trump and fighting socialism in the USA matter: One of South Africa&#39;s largest banks, the London-controlled &quot;Nedbank&quot;, has released an official statement, stating that farmers would be liable for bond payments, even if their farms are taken… <a href="https://t.co/vv0zKCHrnn">https://t.co/vv0zKCHrnn</a> <a href="https://t.co/M68OEHyjQY">pic.twitter.com/M68OEHyjQY</a></p>&mdash; autotldr (@autotldr_) <a href="https://twitter.com/autotldr_/status/1036168115283873792?ref_src=twsrc%5Etfw">September 2, 2018</a></blockquote>

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Mr Henri Du Plessis stated: “I’d love to see you get your money out of a person whose property had been taken without compensation,”

Ms Jurie Absmeier: “What the hell is this, Nedbank? This is your response? You won’t get any payment from me.”

Nedbank, seeing the online outrage, explained that it did not support the government’s proposed change to Section 25 of the country’s constitution “as this already provides for expropriation without compensation in cases where a court holds this to be just and equitable.”

However, the case remains that white farmers are being offered only a fraction of what their properties are worth.

Case in point are the owners of Akkerland Boerdery who wanted 200 million rand ($20.8 million) for their land but were offered only a tenth of that value. If those seizures go ahead, it would be the first time the state refuses to pay market value for land.

Co-owner Mr Johan Steenkamp explained: “I only want a fair and market-related price for my land,”

“We do not want to fight with anyone, we just want to be treated with respect and legally compensated.”

Source:

https://www.news.com.au/finance/economy/world-economy/south-african-bank-says-customers-must-honour-home-loan-payments-even-if-land-is-seized/news-story/dff832edcbf1672c060f6568658c3210

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6 Comment/s


Anonymous No. 35857 1535885149

Socialism

Steal the property owners property and make them paid off the bank loan.

What next will they be nationalizing the Banks also?

I predict Liberal MSM Mass Propaganda efforts over the next 2 years as they try to spin African Socialism.

I predict in < than 1 year we will start to learn of political prisons and slave labor camps.

I predict we'll see Mass Murders, riots and food shortages due to the policies of this Radical Socialist Racist Government.

I predict this Radical Socialist Racist Government will develop the usual elite class comprised on 3% to 5% and the rest of the country will starve and live no better.

I predict after the elite have control of everything in the economy that 10-25 years it will move to a Social-Capitalist economy.

What do I base my predictions on?

100 Years of Socialist/Communist History. Russia, Eastern Europe, China, NAM, Central and South America, Cambodia, etc…

Anonymous No. 35862 1535886343

Pay the bankers with lead

Anonymous No. 35871 1535887677

Just like the Bernie free shit for all plan that he thinks the rich will fund 100% but the math shows that the top 2%’s wealth could only float his plan for 6-7 months. Then what? Just gotta look at that shithole called Venezuela.

Anonymous No. 35872 1535889116

White supremacist conspiracy theory my ass. Great story.

Debbie No. 35878 1535893563

Does any find it odd that Barry goes to Africa gives speeches, comes back to USA then out of the blue white farmers are in turmoil? When he was in office, the American farmers suffered! Coincidence? Don't think so!

Anonymous No. 35862 1535928218
They don’t have to pay the banks back. The banks can write it off their portfolio. No way in hell I would pay this. That’s the risk of doing business ina shithole country.
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