The period since South Africa's transition to democratic dispensation is littered with overwhelming evidence of former worker and communist party leaders who, after close proximity to the state, turn against what they previously advocated as revolutionary. Cde Gwede is seemingly a contender for not being different. Let's whatch the space. Labels such as ultra lest were misused and misapplied in this context. Now there is a new one: counter-productive. In whose interest? Is it in the interet of the many private shareholders of the Reserve Bank? Is correct that the Bank can be independent from the interest of the many private shareholders to whom a cut in interest rates represents a tendency toward a fall in their dividents (profits)? The NUMSA march was revolutionary and directed at what comrade Gwede in his capacity as SACP National Chairperson calls the 1996 class project policies.
-----Original Message-----
From: Mhlengi Kumalo [mailto:[email protected]]
Sent: Fri 5/29/2009 3:31 PM
To: [email protected]
Cc:
Subject: [YCLSA Discussion] Re: RESERVE BANK MANDATE MUST BE REVIEWED
TO FOCUS ON JOB CREATION AND POVERTY ERADICATION
amandla!!! thanks for the possition of ycl ,but chief what do you think
about the statement that made by the secretary general of the ANC in responding
oo the mass action that was done by NUMSA
On Tue, May 26, 2009 at 4:36 AM, Castro Ngobese
<[email protected]> wrote:
Reserve Bank mandate must be reviewed
26 May 2009
The Young Communist League of South Africa [uFasimba] fully
supports NUMSA’s mass action to the Reserve Bank to demand the scrapping of the
inflation targeting policy, cutting of interest’s rates and prioritisation of
jobs creation, growth and sustainable development.
The YCLSA strongly believes that the strategic mandate and
focus of Reserve Bank should be reviewed and be redefined to focus on job
creation and to mitigate the impact of the global and capitalist meltdown
crisis now being felt by ordinary South Africans. In South Africa, thousands of
jobs are being lost and families are losing breadwinners, cars and houses are
being repossessed by the Capitalist Banks as a result of capitalist financial
crisis. The inflation targeting framework underpinned by capitalist principles
and logic has failed to address the developmental needs of our country.
The Reserve Bank should be playing a key strategic role in job
creation and meeting the demands of the working class and the poor within the
overall political economy geared towards reversing the colonial and apartheid
legacy. The growing inequalities and unemployment poses a major social and
economic crisis not for new Jacob Zuma led administration, but also for the
Reserve Bank.
As the YCLSA we demand that the Reserve Bank should not assume
a posture or seek to be a ‘cartel’ to serve the interests of capital, but we
need a Reserve Bank that focuses on quality job creation and poverty
eradication. The policies of the Reserve Bank must be aligned to the objectives
of the developmental State and agenda. This is totally in sync with the
policies adopted at the watershed 52nd National Congress of the ANC in 2007,
the various Alliance summits and incorporated into the ANC led Alliance
elections manifesto and now adopted by government led by President Zuma.
Issued by YCLSA
Contact:
Castro Ngobese
YCLSA National Spokesperson @ 082 567 3557
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