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Okay, technically speaking, in the UK Parliament is sovereign so a govt with Parliament's support can ignore the results of a referendum. This is not usually the case because it's tantamount to political suicide to ignore the will of the people. My reply to you was in reference to Singapore's...

I think it is clear to any thinking person that the executive (the govt) takes full responsibility for a decision that was taken without Parliament's input. So if the PAP succeeds in a lame blame shifting exercise (if things go wrong) AND people still vote for them, THEN Singaporeans deserve to...

Do you know why we have a Parliament? Because there are a lot of Singaporeans out there and it's quite an exercise to try and find out what Singaporeans think about something the govt wants to do. It's nice if we can all sit together around a table vote about each and everything that affects...

Okay GMS, Let's try this again 1. The IMF writes off debt but it collects back more than it writes off in aggregate 2. The IMF doesn't face bankruptcy when writing off debt because it only lends money it can afford to lose ie. it's NOT a bank than borrows on the short end of the yield...

Okay then say it like you mean it stop digging up Lehman Bros, mini-bonds etc.... Totally irrelevant stuff How can the PAP say it's somebody else's fault? They have taken total OWNERSHIP of this decision by not allowing Parliament a role

What's wrong with Parliament having a role in this?

I have no objections to the IMF Pledge, despite my pretty low opinion of the IMF Anybody who can't understand the need for it, needs to be parachuted into Latin America at the height of it's debt crisis Maybe the simple exercise of buying bread in the midst of hyperinflation will serve as a wake...

Nice Summary! I especially like no. 7 Hope it is clear now that the IMF is not a bank selling bonds etc

Dude, What are you doing here???? You've lost the script!

You want to hold a referendum to decide every major issue in Singapore? Then what's the point of having a Parliament???? Wake up! Better democracies than us don't hold referendums every other month

That's right, S'pore has been trying to be a good global citizen (putting our own interests 1st as always) for sometime already. So, why the fuss now? We had a BE and a GE, nobody thought to raise this before? some people think it's impt enough to call a referendum to decide this! I just read...

Actually EMH is only conditionally true ie. conditional on the information set, search technologies available etc... Therefore, one can produce a profit making model and enjoy a period of successful prop trading until the rest of the trading world catches on and by their actions, make the EMH...

Okay all cleared up no worries

Not at all Been there, lived it Still living it post 2007 Pure Quants never really did fit in on a trading floor They were too obssessed with algos and data That's why so many left for hedge funds where they could create their own little quant heaven and wonder why it all fell apart when the...

Ok I think you're confused about the data that goes into the OFR and what belongs in the country's BOP (Balance of Payments) Well the chinese already have the world's largest foreign currency reserves, so maybe need to look at other things:D

Well they both have Phds:D Since we've brought degree certs into the equation

Like I said, you never worked in the business Back in the late 1980s, when Quants were creeping onto the trading floor, they were treated like shit then, the craze started over quantitative modelling and they were treated like shit you can take advantage of Post 2007, Quants are treated as...

If you claim to have interactions with this industry, it should be plain enough to you! Any banker worth his salt knows that the international finance system works on CONFIDENCE This "Confidence Game" works because we all think the money is really there and the IMF will really do something good...

The "knife" is already sharp enough the original way LKY drafted the amendments. There really is no need to restrict loans made by the govt because the legislation covers all aspects with regards to spending down the reserves. The real power lies in control of the reserves and not lending...

You never did work on a trading floor did you? Quants command respect????? No Dude, TRADERS command respect! Quants get sent to Macdonalds to buy breakfast