Binance Launches New Fiat On-Ramp for the South African Rand (ZAR)

Just in time. The writing may be on the wall with Moody's latest downgrade. For reference:

South Africa is particularly dependent on foreign capital, the lack of which has historically precipitated major political crises.

The last source of capital is the pension funds. Looting this was seen as inevitable even before the current crisis simply to keep he bankrupt SOE's for the foreseeable future.

However, the corona virus has instigated a stampede of investors exiting the South African bond market, hastening a political crisis such as the one that followed international boycotts and sanctions boycotts, and largely caused the old regime to collapse.

Now, the government appear to be approaching the IMF under the pretext of economic hardship due to the corona virus. However, the IMF may no longer be able to act as world’s lender of last resort

TL;DR guns, gold, and bitcoin. Ever heard of a certain that who drill for such a scenario?

/r/southafrica Thread