Are foreigners pulling money out of Singapore banks?
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This situation is like the Milk scandal in China where there is no press freedom, persecution of dissidents and where despots rule.
Here it is even worse, there is the official secrets act.
So let's say I come along and say, "You baby is sick because of something in the milk"
Some people will tell you that it is not true because I did not ask the government whether or not it is the milk.
hahahaha... like the government will tell you!
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So you can either stop your baby from drinking formula milk or you can wait until your baby is dead before you believe.
So you can take action now, with foreigners withdrawing money from Singapore banks and the contagion effects or you can believe assdogs representing the asspots and wait until you have lost everything.
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Andrew, I've read that Las Vegas Sands stocks have plummeted 90%. to just USD13 in one year wor.
Oh, nevermind, we still have Temasek to buy over the IR if Sands run road.
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Originally posted by likedatosocan:
If you say Andrew does not know all the truths, then ANSWER to the FORUMMERS this instant, DO YOU KNOW all the TRUTHS?
IF not, whatever you say is also boh-parkay u know?
your arguments also oxymoronic waht.
What you can do constructively is to show us ALL the Truths.
Maybe check with your boss for permission 1st.
I certainly do not claim to know all the truths. All I'm asking is why I (or any reader for that matter) should believe in the claims of AndrewPKYap. Tell me why ?
Looking back at AndrewPKYap's previous posts, he said:
What I am saying that, for them to announce that they are providing guarantees, shows that "foreigners pulling money out of Singapore banks"
What I am arguing is that the foreigners have already pulled massive amounts of money out, forcing the despots to come up with this "solution". ... So the first thing, Money has already gone out, so much of it that the despots have to act. ...
Wow, very interesting, in bold red no less. "How does he know that ?", I thought to myself.
I was hoping to read some solid analysis or reasoning or insider information to support these claims. But instead, what do I get ? Flimsy arguments including the flawed reasoning that just because Singapore has a 'restricted press' and an official secrets act, therefore, whatever the government says regarding the guarantee must be false. And whatever AndrewPKYap claims about the motives for the guarantee must be true because AndrewPKYap says so. What difference is there between blindly believing in what the government tells you and blindly believing in what AndrewPKYap tells you ?
I'm not insisting that anyone agree with my views regarding the guarantee. But what I hope readers would do is not to take these claims at face value without digging deeper and think, really think whether they hold any water. For those who come to the same conclusion as AndrewPKYap, fine. Then they should join him in moving their funds out. They have my best wishes.
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Originally posted by Atobe:
Seriously, telling the common folks to ask the Banker to find out the truth is a "no brainer" too.Which "Banker" do you suggest that we talk to ?
Who possibly can the "Banker" be - the Branch Manager with a pseudo-title "Vice President", or the "Guest Relations Officer", or the "President" of the Bank ?
Will those at the Branch even know the "Real World" situation that their Bank operate in, when they do not even know how secure is their own job situation ?
Will those working in the HQ of the Banks even know the situation of the money flows if they are not even handling the information or the transactions that course through the computers every second or minute or hour ?
Will they talk to the common man from the street ?
Can Singaporeans depend on any information that is given by anyone, when the politics of stability for the State takes precedence over all else ?
Yes, the branch manager should have a feel of whether clients are moving funds into or out of their branches. But I was thinking more of private bankers, or folks in banks involved in marketing, strategy, management reporting for instance. If you have any friends or family members in those roles, speak to them and hear what they have to say. If you don't know anyone, then I agree it will be tough.
I'll certainly be happy to hear any other alternatives you can think of in validating the claims made by AndrewPKYap. Bottomline is that we owe it to ourselves to do these validations. The last thing we should do is to just believe, hook, line and sinker, every wild claim that is made on this forum.
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Banks will know. However, I think MAS will only know the local banks' situation but not foreign bank. Whoever that is monitoring the fund flow will not know for sure as there are too many things inside that fund flow figure to pin point the cause.
The bank guarantee is to prevent banks based here from losing out. That is quite certain.
I am going to accept that I will never know.
But one thing looks quite certain to me. Recession will hit with deterioration of prices of physical assets. That process has started with commodity prices led by perception of lower demand.
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Like this type of crapz in the other despot run country, except it is in finance, here.
Chinese skin cream recalled after steroid found BEIJING: A company in southwest China has recalled a skin cream after a potentially dangerous steroid hormone that should not be used for more than two weeks was found in it, state media said Wednesday. The Miaoling Medical Technology G...Despot run, it is normal to have the official secrets act; persecution of dissidents, persecution of opposition figures out to find the truth. Only the people can demand freedom of information or they can wait until their children are dead.
Down against Malaysian Riggit
Down against Japanese Yen
Down against Thai BahtYup the evidence is clear:
Foreigners pulling money out of Singapore banks
and take the necessary precautions or you can believe the despots and their assdogs... hahaha... until your baby is in hospital or dead....
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Its like a casino now. lol
Candy Floss Money..
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I had spoken with some forex dealers who advised me that the exchange rate of S$/US$ yesterday would tell the true fact of the issue here.
Do you know why Japenese $/US$ is appreciating in value while our S$/US$ is on a down trend /depreciated value?
Another matter is why our great SFs didnot show off to buy more banks/FI in USA now? Is it true that our SG's liquidlity had been dried up now?
Pls find out the answer yrself!!!
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The end of the neo-liberal era and the return to social democracy ?
How to find out if dont even really know what the hell is going on. lol
Karl Marx was an inveterate fiddler with his words and a compulsive misser of deadlines, so there are many inconsistencies and a few downright contradictions in the hold texts of Marxism. But i bet he is laughing right now.. laughing at us all.. and so are his true disciples.
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Originally posted by BadzMaro:
The end of the neo-liberal era and the return to social democracy ?
How to find out if dont even really know what the hell is going on. lol
Karl Marx was an inveterate fiddler with his words and a compulsive misser of deadlines, so there are many inconsistencies and a few downright contradictions in the hold texts of Marxism. But i bet he is laughing right now.. laughing at us all.. and so are his true disciples.
I am still laughing... hahahaha... if you dont buy propaganda and take the necessary precautions (and yes, you can profit from the drop) you will do well in a capitalist system.
In a Marxist system, everyone is poor, that's all and that is why even China, a Communist country abandoned Marxism.
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Singapore can be so much better if not for that fact that we have despotic, public money grabbing dishonorable people in power... blame the 666 (devil number voters), the asspots and the asspots' assdogs.
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Hedge and pension funds started off as well meaning biz models to give the common man a chance to get better returns on their savings thru their professional help, offering 6-10% p.a.
But like all 'well-meaning' entities at the start point, the path of good intentions often leads to hell, as evident in this latest crisis.What these fund managers did was not to invest for long term returns, but like a gambler, using vast amounts of pooled fund to wreack havoc in financial markets for better returns, piling in, leading the greed fueled clueless investors to join in, making the price rise and then pulling out with obscene profits.
And such profits which can amount to over 200%p.a is never given to their investors, but to their own fund managers with salaries in 7 digits figure. Their investors only get their 6% or 10%. Should there be losses, their investors bear the brunt.These fund operators' profits are privatised, and losses socialised.
Thus, people like Soros, Buffet and the whole lot of them are no angels, but devils who destroy what an ordinary entreprenuer build up for long term gains, like responsible and stable SWF tried to do.
Right now, such managers are bleeding terribly in order to live up to their dividends promises, and are trying to get as much as possible back from the market to stay credible for better times.They only erode now whatever small confidences that govts had tried to build up.
Thus, such obscene fund managers must be brought to heel quickly in the new economic order the world is trying to rebuild, or they will only bring more suffering to mankind. They will claim political rights or denial of such rights, but their fight is only for their own greed, and not for mankind.
Mankind can live with 2-4% interest returns to keep up with inflation which strong viable brick and mortar companies can give, but mankind will not be able to survive wild fluctations and artificial ramping up of stock and commodity prices. -
Originally posted by BadzMaro:
The end of the neo-liberal era and the return to social democracy ?
How to find out if dont even really know what the hell is going on. lol
Karl Marx was an inveterate fiddler with his words and a compulsive misser of deadlines, so there are many inconsistencies and a few downright contradictions in the hold texts of Marxism. But i bet he is laughing right now.. laughing at us all.. and so are his true disciples.
correction this is the END of the NEO Con......
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Originally posted by Arapahoe:
correction this is the END of the NEO Con......
End of the World. lol
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There are good fund managers and bad fund managers. I make my choice who to work with and who not to work with.
There are always good guys and bad guys. This applies to everything, from hawker, taxi driver, customers, bosses, and of course politicians. I exercise the choice who should do what for me.
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Originally posted by Leeky:
I had spoken with some forex dealers who advised me that the exchange rate of S$/US$ yesterday would tell the true fact of the issue here.
Do you know why Japenese $/US$ is appreciating in value while our S$/US$ is on a down trend /depreciated value?
Another matter is why our great SFs didnot show off to buy more banks/FI in USA now? Is it true that our SG's liquidlity had been dried up now?
Pls find out the answer yrself!!!
hedge funds and mutual funds are liquidating their position.AIG needs to cover about XX trillions worth of credit swap.
i believe there are alot of the private investment companies are taking this global bail out plan to liquidate their position. Remember singapore was the Wealth Mgt center. So in a global economy it works both way....
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Originally posted by Arapahoe:
hedge funds and mutual funds are liquidating their position.AIG needs to cover about XX trillions worth of credit swap.
i believe there are alot of the private investment companies are taking this global bail out plan to liquidate their position. Remember singapore was the Wealth Mgt center. So in a global economy it works both way....
With a sharp contraction of Money and all things Money; this little red dot will suffer because of the despots and their "make a quick buck and grab as much for themselves, while silliproeans can go and die" policies.
Their "make everything expensive" policies to force the people to perform drove away traditional industries out of the country and Singapore was left the Wall Street money types (the only people/businesses that can really afford the high costs); and now that " Wall Street money types" are down (crashed), Singapore has little "Main Street people/businesses" to continue with and so my friends,
You take care of yourself for this could be the beginning of major suffering because of the policies of dishonorable greedy public money grabbing despots.
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There is no need to panic, even as the markets continue to dive. As mentioned long before, money does not disappear into thin air, even at losses of such amounts we have never witnessed before.
Such losses, just like a gambling game, mean someone else's gain. The money only circulates and never loses its value, more so when it is backed by gold reserves.The current selldown only means more people are hoarding money, some at home, some at banks.
Best that money be kept in banks for personal safety's sake.
Ultimately, money sitting idle, espacially at home, will be of no use to anyone, least of all to the owner, for inflationary pressures will see a large chunk continue to be whittled away.
There are still investments worthy of pursuing, such as education, health, science and technology for both consumers and companies. Rather than to invest with risky 'gambling fund managers', perhaps investors may consider a proactive form of direct long term investment with companies that have sound and viable business plans.
It will help the economy. Just as the rest of us continue to pay for what we need. Money circulates and sanity will return. There is no need to suffer stupidly.Alone, we will not be even able to help ourselves. But together as a society, we can survive. All it needs is for us to stick and work together, using our brains, hands and legs.
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Originally posted by AndrewPKYap:
With a sharp contraction of Money and all things Money; this little red dot will suffer because of the despots and their "make a quick buck and grab as much for themselves, while silliproeans can go and die" policies.
Their "make everything expensive" policies to force the people to perform drove away traditional industries out of the country and Singapore was left the Wall Street money types (the only people/businesses that can really afford the high costs); and now that " Wall Street money types" are down (crashed), Singapore has little "Main Street people/businesses" to continue with and so my friends,
You take care of yourself for this could be the beginning of major suffering because of the policies of dishonorable greedy public money grabbing despots.
With a sharp contraction of Money and all things Money; this little red dot will suffer because of the despots and their "make a quick buck and grab as much for themselves, while silliproeans can go and die" policies.
Their "make everything expensive" policies to force the people to perform drove away traditional industries out of the country and Singapore was left the Wall Street money types (the only people/businesses that can really afford the high costs); and now that " Wall Street money types" are down (crashed), Singapore has little "Main Street people/businesses" to continue with and so my friends.
Edited by Angel.
PAP censorship dept
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There is a time for everything. Including panic and being afraid.
If I am already highly leverage, and had bought a high price property on deferred payment, I should be afraid of not able to get that loan when TOP comes and bankruptcy becomes real.
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Originally posted by ArtBoon:
There is a time for everything. Including panic and being afraid.
If I am already highly leverage, and had bought a high price property on deferred payment, I should be afraid of not able to get that loan when TOP comes and bankruptcy becomes real.
That's true. But it was your assessment of the situation when you decide to purchase that property. We each are responsible and must take responsibility for our own actions. However, loans are still avaliable, none had been rejected unless they have bad credit ratings to begin with.
Next, if you are highly leverage, it is not the end of the world. Panic will not solve your problem. Be calm, sit down and weigh your options. Get friends and relatives to help. If come to worst, none avaliable, then you will have to sell at a loss. Bankruptcy will be your last resort, but it is not the end in Singapore.
You are a capable man, an equal to anyone else here in Singapore for we are a republic. You can still work your way out, pay up your bills, and start afresh again.The only time you need to panic is when you are dead, but then, when you are dead, there is nothing else to worry for that journey is one that no man can ever return to make good anything.
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Originally posted by xtreyier:
There is no need to panic, even as the markets continue to dive. As mentioned long before, money does not disappear into thin air, even at losses of such amounts we have never witnessed before.
Such losses, just like a gambling game, mean someone else's gain. The money only circulates and never loses its value, more so when it is backed by gold reserves.The current selldown only means more people are hoarding money, some at home, some at banks.
Best that money be kept in banks for personal safety's sake.
Ultimately, money sitting idle, espacially at home, will be of no use to anyone, least of all to the owner, for inflationary pressures will see a large chunk continue to be whittled away.
There are still investments worthy of pursuing, such as education, health, science and technology for both consumers and companies. Rather than to invest with risky 'gambling fund managers', perhaps investors may consider a proactive form of direct long term investment with companies that have sound and viable business plans.
It will help the economy. Just as the rest of us continue to pay for what we need. Money circulates and sanity will return. There is no need to suffer stupidly.Alone, we will not be even able to help ourselves. But together as a society, we can survive. All it needs is for us to stick and work together, using our brains, hands and legs.
money is not back by Gold....money is Printed.
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Originally posted by ArtBoon:
There is a time for everything. Including panic and being afraid.
If I am already highly leverage, and had bought a high price property on deferred payment, I should be afraid of not able to get that loan when TOP comes and bankruptcy becomes real.
what percentage of property will TOP next years? -
Originally posted by Arapahoe:
money is not back by Gold....money is Printed.
Alright. If you want to go right down technical, then yes, money is not back by gold. BUT IT IS BACK BY KNOWN GOLD, STRATEGIC RESERVES OF GOLD, ASSETS and more critical CONFIDENCE OF USA.
The world holds US currencies and trade in it not for fun. US is the richest nation on Earth.
If USA were deep in debt, and have to sell its country to pay, how much would it fetch? I am sure its untapped Alaskan oil fields would be worth billions, let alone its rich Kansas agricultuaral plots.
I am sure Russia and Iran would like to own a piece of it, even if they have to combine all their wealth and sell their own country lot, stock and barrel.Think again if you wanna drop US dollars or doubt any nation's holdings of dollar reserves.