Bank will go the way of all SOEs

So, Peter Bruce would like us to think that nationalising the Reserve Bank is a mere technicality and it will still be independent of political interference. He goes on to say that the Bank will be subject to the same controls as any independent and reputable central bank in the world.

I have to disagree.

Why, with all the controls that are provided by legislation, internal and external auditors, audit committees and even parliamentary oversight, has the ANC succeeded in bringing almost every stateowned enterprise to its knees?

I think the Reserve Bank is similarly doomed. The governor will be summoned to ANC headquarters the day after nationalisation to be instructed on who to get rid of, which comrades to employ, which consultants to engage and so on and so forth until the wheels come off like they did at SAA, Eskom, Transnet and the rest.

Give anything that works to this government and they will break it.

Rob Blake, Melkbosstrand