As you know, no one truly knows what our national reserves are. OTC asked for an accounting and was injected secretly with cancer cells and assasinated. But looking at what GIC and Temasek has, we can say around $350 billion. Remember these reserves were build up over the decades by the pioneer generation and other generations of sinkies that followed them. Remember, these national reserves as the PAP likes to emphasize belongs to sinkies. (whether we will ever access it or not is another matter). They are held for the citizens by the govt. The PAP under Lee Con You was very stingy at that time with awarding citizenships to PRs. Now, there are about 3.5 million native born sinkies. Therefore, this works out to about $100,000 per capita of national reserves for each sinkie. In other words, if singapore was liquidated tomorrow (say merger with Malaysia), and the national reserves were returned to the citizens, each one should get $100K. Of course, this is hypothetical, but the national reserves per citizen is $100K, and this is a fact. Now, the PAP is freely giving out citizenships as we know, and have stated that they want to grow the population to 6.9 million and they want as many as possible to get citizenships. If they let another 1 million become citizens in the next little while, the national reserves is now diluted by an additional 1 million new citizens whose parents or great grand parent never contributed to the reserves, much less themsleves. From $100K per citizen, this amount is now reduced to $87,500 per citizen. Hence, native born sinkies would have actually taken out $12,500 each to give to the new citizens. Its like a large corporation selling shares to new shareholders. The more shares you sell, the more diluted each shareholder is, so when they get their dividends and pay outs, it gets less and less as more new shares are sold. Except in Singapore's case, the new shareholders did not pay any money to get their share of the National Reserves. Song or not? Fucking PAP!!
