OPINION | Inflation is not natural; it is caused and it is unjust
The writer argues that inflation is theft and is the result of increased money supply which in turn erodes purchasing powerInflation in the mainstream is described as the general rise in prices in an economy. This general rise in prices is the most unjust phenomena of the modern day and our continued acceptance of it makes us complicit in injustice.
The Constitution that governs the South African Reserve Bank was passed in 1996; since 1996 the value of the rand has been eroded by 337.91%. This means that if you bought something in 1996 for R100, that thing will now cost you R437.91 Therefore, the political parties are correct to deride the Sarb when it increases interest rates, yet they say nothing about the near constant increase in money supply which also disadvantages their constituents in the form of stealing the value of their property over the long term.
Enoch Godongwana Zimbabwe Rand
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