Analysis

The Crisis Of Capitalism: Decadent Ruling Class Remains Undaunted

By Sam Ditshego

There were several organisations that fought for the liberation of South Africa (Azania). Three became known, the ANC, PAC and BCM.

They were guided by their ideologies, especially in terms of what economic system they preferred. The ANC of 1957 adopted the Freedom Charter and refers to itself as a broad church.

The PAC adopted an Africanist Socialist Democracy as its preferred economic system. Mangaliso Robert Sobukwe said white supremacy, colonialism, imperialism and capitalism must be destroyed. Sobukwe died 40 years ago from poisoning by the apartheid government.

The BCM is a socialist organisation. Steve Biko was in favour of establishing an egalitarian society and spoke out against racism. He completely ruled out capitalism. He also condemned colonialism and imperialism.

Leaders of the PAC and BCM were martyred. They were prepared to die for what they believed in. The 12th September will mark the 41st anniversary of the brutal murder of Biko at the hands of the apartheid government.

In the 1980’s, some leaders of the ANC held secret negotiations with apartheid government officials and captains of industry brokered by the imperialists. The PAC and BCM were completely left out only to be invited when the secret negotiations were a fait accompli. PAC leaders who succeeded Zeph Mothopeng and Jafta Masemola jumped on the negotiations bandwagon after the death by poisoning of Mothopeng and Masemola’s assassination. Azapo, which is one of BCM formations completely rejected participation in those negotiations which were initiated in secret.

A rigged election with no voters’ roll whose outcome was predetermined was arranged in April 1994.As expected the ANC was anointed the ruling party after “winning” that rigged election. It is becoming clearer and clearer every day that the ANC is ruling on behalf of the white power structure and that South Africa is not a sovereign state.

The ANC came to power through crooked secret negotiations and a rigged election and have disregarded PAC and BCM ideals for which leaders of these organisations gave their lives. They are undaunted by the discontent of millions of supporters of these organisations engendered by the crises of capitalism.

Ralph Miliband wrote, “Socialism postulates that an altogether different economic system will in due course come to replace capitalism, and that this economic system will be based on the principle that no person should work for the private enrichment of another and under conditions of enforced subordination; and wage labour … will be taken to be as morally repugnant as slavery or serfdom are now viewed as being”.

Capitalism is an antiquated, crisis-ridden system that dominates the world. The PAC and BCM fought for a more human system.

The Steinhoff saga – where public pensions held by the Public Investment Corporation (PIC) were invested as hedge funds at Steinhoff were squandered in speculative gambling – is indicative of the crisis of capitalism. When called upon to account, former Steinhoff CEO Markus Jooste just spewed gobbledygook. A warrant for his arrest hasn’t been issued and one wonders what the Hawks are waiting for. Some of these white supremacists are a law unto themselves which is another sign of the crisis of capitalism. Capitalism knows no law nor morality.

Another crisis of capitalism is that the Special Pension funds for struggle veterans held at Treasury were also squandered. Khulumani Support Group led by Dr Marjorie Jobson intended to take Treasury to court through the Legal Resources Centre headed by Advocate George Bizos to clean the rot but that has come to naught because they were persuaded to settle the matter out of court.

Mike Stainbank, who holds the Trademark of Apartheid Museum has been swindled in broad daylight by some white guys in cahoots with the judiciary, executive and the legislature. He says the judiciary has been captured by white supremacists. He has deposed an elaborate affidavit to Justice Raymond Zondo who chairs the inquiry into state capture but Justice Zondo has ignored his submission. Therefore, he is probably not going to be listed as one of the witnesses to testify.

State capture itself is a manifestation of the crisis of capitalism. As some people including myself have pointed out, state capture is not a new phenomenon. It was there prior to 1994. When H F Verwoerd tried to stem the tide of state capture through the Piet Hoek Commission, he was assassinated on 6 September 1966 by those who had captured the state and are still capturing it to date. They are the Oppenheimers, Ruperts, Wieses and the Anglo American Empire.

I have written several articles decrying the steep rise in the price of petrol and also pointed out that Members of Parliament and Cabinet Ministers don’t give two hoots because they are paid handsomely therefore don’t feel the pinch. I heard in the news that the sky-rocketing price of petrol is going to be debated in the National Assembly.

This is encouraging. However, the problem of the rapid rise of the price of petrol and other commodities is a microcosm. The main problem is the system of capitalism.

The Rand has been deteriorating precipitously ever since the ANC government did away with the two-tier currency system they inherited from the apartheid government. It has been reported in Armstrong Economics that, “Throughout history there has been countless two-tier monetary systems where at times there have been a local currency issued by the immediate government, yet the people rely upon the currency of another government. Such periods are interesting for they are not official but emerge by the people rather than through a decree of a government. There are also instances where foreign currencies circulate against local currencies as U.S. dollars did for years in Russia to Asia. Such two-tier monetary systems have emerged when there have been shortages in local currencies or distrust of local currencies as emerged with the Zimbabwe hyperinflation. But there are also instances where there have been a two-tier monetary systems that are officially established by the state such as the Rand and Financial Rand in South Africa which was finally abolished in 1995, and the two-tier gold system under Bretton Woods established in 1968. There are also emergency two-tier currency issues that are private and exist alongside the official currency of the state”.

The ANC government also relaxed currency exchange controls in order to allow South African corporations that benefitted from apartheid to expatriate their money and list at the London Stock Exchange. They never cared to know why the apartheid government had a two-tier currency system and currency exchange controls in place. Harry Oppenheimer is one of those people who persuaded the ANC government to do away with these policies. I wrote in 1995 in the Sowetan that a law against money laundering should be enacted and that exchange controls helped to curb money laundering and capital flight. I also wrote that Italy relaxed exchange controls but immediately restored the exchange controls laws because it experience capital flight.

I also argued against the establishment of white enclaves in South Africa. However, the ANC government allowed the creation of Orania which is a state within a state the same way the Vatican is a state within Italy. There are rumours that the white elite want to establish the Western Cape and Northern Cape as a separate state from the rest of South Africa. The solution is to incorporate the Western Cape into the Eastern Cape and the Northern Cape into the North West Province to pre-empt cessation of Western Cape and Northern Cape from South Africa. I know ANC leaders are not going to heed my advice. All these policy blunders are indicative of the crisis of capitalism.

ANC leaders are aware they ascended the throne through illegitimate and crooked ways and excluded the ideas of PAC and BCM on how this country should be run. It is clear that the ideas of the ANC and the white elite have failed and were not going to succeed anyway. Don’t they think it was about time they consulted with followers of these organisations and sought solutions to this country’s problems thereby extricating themselves from the mess in which they plunged this country? PAC and BCM ideas can be ignored at the ANC’s own peril.

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