The Science Of ...

Economist and author of ‘When Money Destroys Nations' on the beleaguered rand

(Also read "Author of When Money Destroys Nations cautions SA to heed Greece’s warning".)

Philip Haslam is an economist, an economic advisor and co-founder of the Monetary Justice Project, a think-tank on currency reform.

He is also the author of When Money Destroys Nations, a book about Zimbabwe's hyperinflation, why money printing threatens countries globally and how you can protect your future.

The Money Show’s Bruce Whitfield interviewed Haslam for his weekly “The Science Of” feature.

Scroll down for quotes from the audio below.

Countries around the world are printing money on a massive scale.

Philip Haslam

You can’t create money out of nothing without consequences.

Philip Haslam

Printing money is an extremely easy way to pay for goods and services. The incentives are there and the consequences aren’t immediate.

Philip Haslam

There are four fundamental drivers of an exchange rate.

Philip Haslam

South Africa’s risk profile has changed radically and fundamentally.

Philip Haslam

Government is spending, but it’s all on a debt basis.

Philip Haslam

Zimbabweans I’ve interviewed have an understanding of money far better than anyone else I’ve met.

Philip Haslam

We’re investigating establishing a Bitcoin point-of-sale system in Zimbabwe.

Philip Haslam

Anyone who says they know where the rand is going is a fool. There are, however, certain critical drivers.

Philip Haslam

There are certain economic fundamentals that we saw in Zimbabwe that apply to all countries.

Philip Haslam

To help the rand Government needs to support exporters such as the mining industry.

Philip Haslam

We need to import less.

Philip Haslam

We can increase interest rates to help the rand.

Philip Haslam

Purchasing Power Parity indicates that South African prices are too low.

Philip Haslam

I think the value of the rand will be lower at the end of the year.

Philip Haslam

Subscribe to our Business Wrap Newsletter

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Tax Ombud fights Sars on your behalf (send a complaint, it's free)

Tax Ombud fights Sars on your behalf (send a complaint, it's free)

Bruce Whitfield interviews Tax Ombud Judge Bernard Ngoepe.

The story of pulp and paper company Sappi (employer of 12 800)

The story of pulp and paper company Sappi (employer of 12 800)

The Money Show’s Bruce Whitfield interviews Steve Binnie, CEO of the world’s largest producer of dissolving wood pulp.

Private equity (and mergers & acquisitions) in SA explained in simple terms

Private equity (and mergers & acquisitions) in SA explained in simple terms

The Money Show’s Bruce Whitfield interviews Bowmans Law Head of Private Equity John Bellew.

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The Money Show’s Bruce Whitfield interviews amaBhungane Centre for Investigative Journalism Investigative Journalist Craig McKune.

Rand down 9% – the worst rout since October 2008

Rand down 9% – the worst rout since October 2008

The rand experienced its worst pummelling in more than seven years as turmoil in China and the US deterred risk taking.

Author of 'When Money Destroys Nations' cautions SA to heed Greece’s warning

Author of 'When Money Destroys Nations' cautions SA to heed Greece’s warning

In Greece poor economic data and noise, eventually, turned into reality. What are the "red flags" SA should look out for?

Popular articles
Why Sisulu and Dlamini-Zuma aren't suitable Presidential candidates: analyst

Why Sisulu and Dlamini-Zuma aren't suitable Presidential candidates: analyst

ANC branch in the Eastern Cape, Z.R Mahabana, has launched a campaign backing Lindiwe Sisuslu as an ANC presidential candidate.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Pamela Nomvete on her downfalls as actress, and 'climbing back'

Pamela Nomvete on her downfalls as actress, and 'climbing back'

This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.

[WATCH] New adapted national anthem by students

[WATCH] New adapted national anthem by students

Fees Must Fall activists singing the national anthem with a new melody and phrases calling it a 'decolonised national anthem'.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?