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by Gerhard at Sound Money SA
Driving home on Monday, I saw an article telling me something South Africans have seen a lot of lately. The local newspaper headline read: “Petrol price shock.” This headline did not really come as a surprise to me.
On Wednesday evening, the petrol price increased with almost an entire Rand, that is the steepest increase to date. While it came as a shock to the uninitiated, it was to be expected. In all likelihood, more hikes like these are coming to the entire basket of goods we live on.
If you’ve been paying attention to the financial media sites worth reading, you would see that all commodities, including oil, petrol, wheat and meat, are becoming more expensive. There is a really simple reason for this, global central bankers are now continuously diluting the value of the world’s currencies, making everything we buy with diluted/devalued currency, more expensive.