Lee Kuan Yew warns of army intervention
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the reserves money belongs to singapore... and everyday we spent it, use it, earn it and count it without ever realizing that... we are holding our national reserves every moment.Originally posted by siaokao:What do u mean? U mean those $$ dun belong to him??
U think belong to u ar? U can go get an account statement or not? can withdraw any funds from that account?
why do you think the singapore dollar that you are holding in your pocket, wallet, bank account are worth what they are suppose to worth?
why is 1 singapore dollar worth more then 2 malaysian ringgit?
who decides how much is singapore dollar worth and how is that valuation arrived at?
what part does singapore's foreign reserves play in the valuation of singapore dollar, which in turns determine each and every singaporean's wealth, worth and purchasing power? -
Do u know how much spore has??? same thing as NKF case??Originally posted by tripwire:the money dont belong to him.. neither does it belong to you or me.
the money belongs to singapore.. and is the foundation of singapore citizens' wealth, which is earned with countless drops of blood and sweat.
he is merely the caretaker...the 24hr security guard...
How much NKF had???How much Durai has n how much he spent on credit cards etc???how much LKY spent,did we hve a said???
Spore ppls hve S$ nil as all these $ are earned by LKY n his Gods!!!that why we cant know the accts!!!! -
My God!!! Dont u know currency doesnot need 2 be supported by reserve of the country???Originally posted by tripwire:the reserves money belongs to singapore... and everyday we spent it, use it, earn it and count it without ever realizing that... we are holding our national reserves every moment.
why do you think the singapore dollar that you are holding in your pocket, wallet, bank account are worth what they are suppose to worth?
why is 1 singapore dollar worth more then 2 malaysian ringgit?
who decides how much is singapore dollar worth and how is that valuation arrived at?
what part does singapore's foreign reserves play in the valuation of singapore dollar, which in turns determine each and every singaporean's wealth, worth and purchasing power? -
bout time there is a change in the shift duty of the security guard..Originally posted by tripwire:the money dont belong to him.. neither does it belong to you or me.
the money belongs to singapore.. and is the foundation of singapore citizens' wealth, which is earned with countless drops of blood and sweat.
he is merely the caretaker...the 24hr security guard... -
enlighten me please.. i dunno if you trying to tell me something or u r asking questions..Originally posted by tripwire:the reserves money belongs to singapore... and everyday we spent it, use it, earn it and count it without ever realizing that... we are holding our national reserves every moment.
why do you think the singapore dollar that you are holding in your pocket, wallet, bank account are worth what they are suppose to worth?
why is 1 singapore dollar worth more then 2 malaysian ringgit?
who decides how much is singapore dollar worth and how is that valuation arrived at?
what part does singapore's foreign reserves play in the valuation of singapore dollar, which in turns determine each and every singaporean's wealth, worth and purchasing power? -
Haha.. changing of guards ah??Originally posted by 4getmenot:bout time there is a change in the shift duty of the security guard.. -
http://www.mas.gov.sg/resource/download/Present2_files/v3_document.htmlOriginally posted by foomwee88:My God!!! Dont u know currency doesnot need 2 be supported by reserve of the country???
Under Implementation of Monetary Policy
The actual operation of monetary policy has been influenced by the institutional arrangement of the CPF and government budgetary operations. Net contributions to the CPF and government budget surpluses tend to reduce the liquidity in the banking system. If not offset, it would put incipient pressure on the S$ to appreciate.
Thus, the MAS has to act to restore this liquidity so as to neutralise its effects on the S$. These actions largely take the form of foreign exchange market intervention operations, in which US dollars are purchased by the MAS through the creation of bank reserves.
We adopt a policy of managed floating with regards to our exchange rates.
We use our reserves to buy or sell US dollars, if you have negative reserves, you need to borrow money to managed the exchange rates, when you borrow money you need to pay interest. If you have a large negative reserves like the US; how do you go about paying all the debts if you maintain high exchange rate? Say initial exchange rate is USD 1.00 : SGD 2.00, you depreciate your currency say USD 1.00 : SGD 1.50, which makes the US product more competitive in the international market. What initially cost SGD 20.00 would cost SGD 15.00 after the depreciation.
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He didn't say that EVERY OTHER PARTY would be corrupted. He was talking about the ones that are actually corrupted. Stop twisting words here and there to make our leaders look bad.Originally posted by Atobe:
It is sheer arrogance on the part of LKY to suggest that any other Singaporean political party that is chosen and elected by Singaporeans - instead of the Incumbent PAP - can only result in the plundering of the Singapore Reserves.
It suggests that Singaporeans are unable to judge.
It suggests that any other political party that decide to use the Singapore Reserves will not be doing anything for the interest of Singapore. -
MM's "worry" is two-fold;Originally posted by Cenarious:He didn't say that EVERY OTHER PARTY would be corrupted. He was talking about the ones that are actually corrupted. Stop twisting words here and there to make our leaders look bad.
firstly, the rising popularity of opposition that he said could result in 'freak' defeat for his ruling People's Action Party (PAP) (when opposition win elections.. its "freak" results)
secondly, corrupt opposition leaders squandering the nation's wealth. (I'm sure he is not refering to his own MIW?)
In both cases, it means PAP would be out of office (i.e. lose the election).. how then would he or PAP has the right to "summon" coup and remove "corrupt opposition leaders"?
In PAP/Lee's eyes.. all are corrupted except those in white.. -
When an unelected political group calls for a coup, I expect the authorities to step in to make sure they do not cause an insurrection or unrest, regardless of what they think is right.Originally posted by siaokao:MM's worry is two-fold;
firstly, the rising popularity of opposition that he said could result in 'freak' defeat for his ruling People's Action Party (PAP)
secondly, corrupt opposition leaders squandering the nation's wealth.
In both cases, it means PAP would be out of office (i.e. lose the election).. how then would he or PAP has the right to "summon" coup and remove "corrupt opposition leaders"?
In PAP/Lee's eyes.. all are corrupted except those in white..
These words are very inflammatory in nature, calling for a coup on an elected government. We are supposed to build up our democratic institutions, so that parties that lose will not resort to coups and what other rubbish because the system will ensure there is no long-term political entrenchment.
The Thai coup was partly done to rebuild democracy, interpreted at its most liberal extreme.. if any such act was committed here, it would set us back all the way to the 1960s. The world is moving on, yet a certain group still believes it is still right to run the nation as if we were hunting communists in the jungle. -
We are no longer hunting Commies now. It is the Islamofascists who have risen up from the ashes of Cmoounism.Originally posted by LazerLordz:When an unelected political group calls for a coup, I expect the authorities to step in to make sure they do not cause an insurrection or unrest, regardless of what they think is right.
These words are very inflammatory in nature, calling for a coup on an elected government. We are supposed to build up our democratic institutions, so that parties that lose will not resort to coups and what other rubbish because the system will ensure there is no long-term political entrenchment.
The Thai coup was partly done to rebuild democracy, interpreted at its most liberal extreme.. if any such act was committed here, it would set us back all the way to the 1960s. The world is moving on, yet a certain group still believes it is still right to run the nation as if we were hunting communists in the jungle. -
I still don't see how he is saying EVERY opposition elected will be corrupted.Originally posted by siaokao:MM's "worry" is two-fold;
firstly, the rising popularity of opposition that he said could result in 'freak' defeat for his ruling People's Action Party (PAP) (when opposition win elections.. its "freak" results)
secondly, corrupt opposition leaders squandering the nation's wealth. (I'm sure he is not refering to his own MIW?)
In both cases, it means PAP would be out of office (i.e. lose the election).. how then would he or PAP has the right to "summon" coup and remove "corrupt opposition leaders"?
In PAP/Lee's eyes.. all are corrupted except those in white.. -
and WHO is to determine whether the government is doing a good job?
lee kuan yew?
what if we decided that the current government isnt doing a good job? shall we have a coup? -
innuendo. it is a legal defense in the Singapore courts, you know.Originally posted by Cenarious:I still don't see how he is saying EVERY opposition elected will be corrupted. -
Maybe LKY is really going soft in the head, who knows.
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put it in simple terms for me please, i dont know what you are talking about.Originally posted by LazerLordz:innuendo. it is a legal defense in the Singapore courts, you know. -
Originally posted by maurizio13:
http://www.mas.gov.sg/resource/download/Present2_files/v3_document.html
[b]Under Implementation of Monetary Policy
The actual operation of monetary policy has been influenced by the institutional arrangement of the CPF and government budgetary operations. Net contributions to the CPF and government budget surpluses tend to reduce the liquidity in the banking system. If not offset, it would put incipient pressure on the S$ to appreciate.
Thus, the MAS has to act to restore this liquidity so as to neutralise its effects on the S$. These actions largely take the form of foreign exchange market intervention operations, in which US dollars are purchased by the MAS through the creation of bank reserves.
This is to support the S$ in the int'l market with monetary policy!!!
If US$ is supported by USA reserve,they had oreli bankrupt by now!!!
Pls go n study wat is currency n reserve???
Pls dont make us laugh!!!!outdated 20yrs ago,my God!!!!
We adopt a policy of managed floating with regards to our exchange rates.
We use our reserves to buy or sell US dollars, if you have negative reserves, you need to borrow money to managed the exchange rates, when you borrow money you need to pay interest. If you have a large negative reserves like the US; how do you go about paying all the debts if you maintain high exchange rate? Say initial exchange rate is USD 1.00 : SGD 2.00, you depreciate your currency say USD 1.00 : SGD 1.50, which makes the US product more competitive in the international market. What initially cost SGD 20.00 would cost SGD 15.00 after the depreciation.
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Sighs.Originally posted by foomwee88:
Don't put words in my mouth, I was talking about SGD exchange rate regime (managed floating). Nothing regarding USD exchange rate (freely floating), which is entirely different.
Think you should go read up on "Exchange Rates and Open Economy Macroeconomics"
You can only make one sentence comments, no elaborations of your opinions, goes to show what kind of level you belong to.
I have no time with half-wits like you, who enjoys making one liner comments, even baboons have more sophisticated language skills than you.
Enjoy yourself.
Good bye. -
By freak result, he meant that the opposition winning the election without merit. If an opposition had won the election this year, do you think it is a freak result? Which opposition party do you think deserves to run Singapore? Sure, the people chooses the party, but are you sure the opposition will run the country better than the PAP?Originally posted by siaokao:MM's "worry" is two-fold;
firstly, the rising popularity of opposition that he said could result in 'freak' defeat for his ruling People's Action Party (PAP) (when opposition win elections.. its "freak" results)
secondly, corrupt opposition leaders squandering the nation's wealth. (I'm sure he is not refering to his own MIW?)
In both cases, it means PAP would be out of office (i.e. lose the election).. how then would he or PAP has the right to "summon" coup and remove "corrupt opposition leaders"?
In PAP/Lee's eyes.. all are corrupted except those in white..
I'm not sure how often Singapore squanders its own wealth. Relatively speaking, if you compare us to Malaysia, we are in very good hands. For those of you who think that the government is corrupt and they don't allow us to know the amount of reserves or something like that, have you tried to actually find out more? For your information, Singapore is ranked at number five in the world for the most transparent and least corrupt public sector in the world. Don't be lazy and do your research. -
So basing on that argument, you are saying the people's will doesn't count any more?
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Where did you learn your English Language from ?Originally posted by Cenarious:He didn't say that EVERY OTHER PARTY would be corrupted. He was talking about the ones that are actually corrupted. Stop twisting words here and there to make our leaders look bad.
How should one interprete the following clarion call from MM LKY ?
Lee Kuan Yew warns of army intervention
As last resort, if an opposition government plunders hard-earned reserves. Possible?
His worry is two-fold; firstly, the rising popularity of opposition that he said could result in 'freak' defeat for his ruling People's Action Party (PAP), and secondly, corrupt opposition leaders squandering the nation's wealth
To put it into perspective, Lee did not condone a military takeover but probably mentioned it as a last option if everything else failed to stop a corrupt government.
Instead he advised Singaporeans to preserve the present political arrangement, which could also mean - to his critics - 'don't vote in an opposition' or "don't introduce a multi-party system."
Has it not been MM LKY's line of arrogance that Governments formed by an Opposition can only come about by opening the treasury to Singaporeans ?
Has it not been MM LKY's hollow desparation in branding the Opposition as corrupt and incapable ?
Yet, without being corrupt, the Opposition Parties had shown that their candidates can reduce the margins of good votes to PM LHL at only 63 percent - which was despite the corrupt use of upgrading enticements.
Before the Opposition Parties can come to power, has anyone appreciated the fact that the Ruling Party has already placed their greedy fingers on the authoritative seals of power, to change the Constitution so as to bypass the Elected President, and allow themselves access to the multi-billion medisave accounts ?
Did anyone noticed the post by LazerLordz on Page 1 of this thread ?Originally posted by LazerLordz:
And may I mention that a Constitutional Amendment was made in January 2005 allowing for the transfer of funds from our past reserves for the GLCs and statutory boards through GIC? This allows them to transfer these funds without a public referendum nor parliamentary approval each time, only Presidential approval in times where the funds are required to be classified as past reserves in those corporations.
Power to authorise expenditure on account, etc., or for unspecified purposes.
I wonder how many Singaporeans know or even feel concerned that such an amendment was made without a single voice of concern from the public. This is what happens when you have entrenched political majority over time. -
Originally posted by LazerLordz:
Yes it does. It's just that it's a freak result if the people accidentally voted in a party just because they dislike the PAP. I know people who actually told me they voted for the opposition because they don't want the PAP to be too arrogant and wanted some pressure on them. Certainly, they didn't vote for the opposition because of their abilities. If everybody thought like that and the SDP gets voted in, there's gonna be trouble. So, which of the current parties do you think should run Singapore?
So basing on that argument, you are saying the people's will doesn't count any more?Has it not been MM LKY's line of arrogance that Governments formed by an Opposition can only come about by opening the treasury to Singaporeans ?
I wonder which party is very capapble? Well, the Gomez issue certainly showed that some of the people in these parties are not very honest. I'm not sure why people keep talking about the reserves. Here: http://www.international.ucla.edu/asia/article.asp?parentid=5299
Has it not been MM LKY's hollow desparation in branding the Opposition as corrupt and incapable ?
Yet, without being corrupt, the Opposition Parties had shown that their candidates can reduce the margins of good votes to PM LHL at only 63 percent - which was despite the corrupt use of upgrading enticements.
Before the Opposition Parties can come to power, has anyone appreciated the fact that the Ruling Party has already placed their greedy fingers on the authoritative seals of power, to change the Constitution so as to bypass the Elected President, and allow themselves access to the multi-billion medisave accounts ?
Did anyone noticed the post by LazerLordz on Page 1 of this thread ?
With one of the most transparent and least corrupt public sectors in the world, I wonder what the fuss is all about? -
I do not understand why he must talk about a coup... shouldn't we be proud of the fact that since independence there is no coup or any sort of political interference from the military....
and the previous posters have a good point... if there is a "freak" election and PAP lost power, which PAP person will have the authority to order a coup?
Does that mean that the military answer to the PAP and not the govenment? that is very very disturbing... whatever, it is, the military should answer to whoever is in government as the government is elected by the people....
That should be a core belief for every servicemen.
as a National Serviceman, short of some drastic government actions like genocide and so on, I will never support a coup....
even if existing govt "squander" reserves, does that give soldiers a right to stage a coup?
If anybody try to stage a coup to overthrow the govt that is elected based on a "freak" result, it would be the responsiblity for all servicemen to protect the govt based on our pledge of loyalty to the govt. -
Are you sure we can't know the accounts or you never try to find? Or you cannot find? Then later after you find, you say that the government is corrupted and it is not accurate.Originally posted by foomwee88:Do u know how much spore has??? same thing as NKF case??
How much NKF had???How much Durai has n how much he spent on credit cards etc???how much LKY spent,did we hve a said???
Spore ppls hve S$ nil as all these $ are earned by LKY n his Gods!!!that why we cant know the accts!!!! -
True, nobody will condone a coup in Singapore. I think maybe only in an extreme case whereby the new party is obviously very incompetent, corrupt and out to strip the country of its resources. In such a case, there will probably be enough people in support of the PAP in to carry such a task. But I think MM Lee is only trying to scare the people into voting for the PAP.Originally posted by spencer99:I do not understand why he must talk about a coup... shouldn't we be proud of the fact that since independence there is no coup or any sort of political interference from the military....
and the previous posters have a good point... if there is a "freak" election and PAP lost power, which PAP person will have the authority to order a coup?
Does that mean that the military answer to the PAP and not the govenment? that is very very disturbing... whatever, it is, the military should answer to whoever is in government as the government is elected by the people....
That should be a core belief for every servicemen.
as a National Serviceman, short of some drastic government actions like genocide and so on, I will never support a coup....
even if existing govt "squander" reserves, does that give soldiers a right to stage a coup?
If anybody try to stage a coup to overthrow the govt that is elected based on a "freak" result, it would be the responsiblity for all servicemen to protect the govt based on our pledge of loyalty to the govt.