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Dude (?) I'm not a Quant. Don't have the Phd and never learnt enough Math nor ever interested I do supervise several Quants and they know shit about things like the IMF because political economy never did fit into comfy equations Was never a believer in quantitative modelling (but do...

Prof Rogoff is as distinguished as they come with regards to International Monetary Economics. However, he was the Fund's Chief Economist for a long period, where he got into a rather public tiff with Joe Stiglitz (the real IMF critic). That facility exists thru the Chiangmai agreement etc...

NO GMS, you make the same mistake as KJ The constitution makes no such reference or else the constitutional law experts (who were very vocal about the Hougang BE case) would rally behind KJ (which they are not) Think about this. This constitutional amendment was personally supervised by LKY...

Referendums are expensive resource heavy exercises No need to "go to the people" everytime you a need a decision because we have Parliament (even with some opposition MPs now)

Markets been very stressful lately so I drop in occasionally to let off steam Some people here post liberally without actually checking the facts (sometimes they don't have any facts at all) eg. Steffychun and her version of what the UK govt can do without Parliament!!! And I should know what...

Well China is starting to engage global institutions My take is that the Chinese will contribute more and more and start to muscle their way in SO bare minimum? I think you underestimate the Chinese ability to play chess with the world But you're quite right to say that the IMF, World Bank etc...

These loans were funded with quota contributions and retained earning When they are allowed to default, the IMF stays solvent because they never loaned more than they had on hand it's really that simple And they are a super loan shark because they collect more monies than they lose on...

On the contrary, the mini bonds were rather risky investments that were MIS-SOLD as low risk That's why customers in other countries have success in obtaining compensation It's only in Singapore that our uncles and aunties get screwed by the banks and the MAS says it's your own fault for...

I'm not saying the IMF is risk free. With respect to S'pore's Pledge, there is the risk of an IMF Bankruptcy Just saying that IMF Insolvency is more unlikely than a global bank going bust (which are companies that take on lots of leverage) Why? because the IMF doesn't take on more risk than it...

I'm in favour of the IMF pledge Not in favour of the way the PAP govt shoved this decision thru without oversight

Not even close

Read (if you can!) http://www.independent.co.uk/news/uk/politics/osborne-criticised-over-imf-bailout-bull-7668034.html Focus on : Parliament has previously approved around £40 billion in support for the IMF, of which about £30 billion has already been committed. If the increase had...

I was just educating some people here who claim that China is too smart to make risky IMF pledges

The IMF loses money on loan defaults, Yes So the question is how does the IMF raise the funds to make these loans in the 1st place The answer is from the quota contributions from member nations (that's the money lost when debtors default) Singapore's pledge is not a quota contribution and...

GMS, Looks like we share very different views about IMF Pledges, loans, etc. This illustrates how impt it is for some form of Parliamentary oversight (in Singapore) when these decisions are made A diversity of opinions is an indication of a healthy and functioning democracy That's the direction...

Hey Cruxx, Are you trying to be funny or just plain dumb? Here's what I was responding to : You wrote: "Yes, steffychun is right. Governments are different from households and individuals. They can borrow any amount they like. After all, they can just print $ to repay their...

Can't read English??? Controversially, though, the Government will not have to put the extra funding to a Parliamentary vote because headroom was built into the last agreement. Last agreement = last time the commons debated + voted + approved the agreement for a ceiling of 40 billion to the...

YOU CAN"T READ EITHER! The UK Parliament voted and approved a total of 40 billion for the IMF 30 billion was previously pledged the last 10 billion was the pledge that caused the recent debate got it?????

The IMF doesn't go anywhere bankrupt because it can choose to limit the kind of help it extends I ask you again for the financial accounts that indicate near the IMF's financial distress BTW China is now a major contributor to the IMF

It's for an emergency crisis mgt fund, there funds transferred as and when needed. It's also a confidence booster for the global community to know that such an arrangement exists so you're right, the IMF doesn't need our money because the crisis hasn't started yet