High Court Filing for Judicial Review of US$4 Billion Loan to IMF - KJ's update

You cannot scold a court claim. You can only rebuke a person. So the headlines of “The Monetary Authority of Singapore (MAS) yesterday rebuked claims” in Today make a mockery of our nation suggesting that our editors (appointed by the government) have a poor grasp of English. This is sloppy just like the MICA response to my WSJ letter. They have clearly confused “rebuke” with “rebut” or “refute.”

Of course they cannot rebuke me. There are questions which need resolving and I have taken the course of action that I feel is best. As has been demonstrated the government ministries concerned failed to respond over a period of months aided by media censorship. The President merely arrowed me to MAS. Upon filing in the High Court on Friday at 3.30pm, at 8.07 pm I received an email from MAS. This was not a response just a message arrowing me to the MAS website. There I found a post which had been put up obviously in haste in a different font.

It is a sad indictment that it took a High Court filing for information to be released to the public domain for the benefit of our citizens I therefore say that the MOF and the president should be rebuked for unnecessary opacity and obfuscation.

I also note the ST report of 7th July which says “The Monetary Authority of Singapore has clarified that the Republic’s pledge to lend US$4 billion to the IMF does not breach the Constitution.” This is astonishing since the last time I checked the MAS was not the High Court. Surely to suggest that the MAS’s opinion has the force of law when this is precisely the matter that I am asking the Court to adjudicate is contempt of court?


http://sonofadud.com/2012/07/09/res...r-judicial-review-of-us4-billion-loan-to-imf/

[h=2]Idle President Tony Tan doing nothing about S’pore’s US$4b loan to IMF[/h] July 9th, 2012 | Author: Contributions

President Tony Tan

Isn’t the President of Singapore supposed to guard our reserves? What the hell is he sitting on his butt watching the wayang show and not doing anything at all?
Here is Kenneth Jeya’s letter to Chief of IMF, highlighting our US$4b (SG$5b) loan that was not approved by Parliament or the President.
An Open Letter to Christine Lagarde Managing Director of the IMF
When KJ sent the letter to the IMF and posted its content publicly on his blog, MAS panicked and issued its own statement. As expected, it denies any wrongdoing.
IMF pledge ‘did not violate Constitution’
I am not familiar with this Constitutional stuff about Article 144. But isn’t this whole thing about the opacity of the loan, as what KJ highlighted? US$4b is a lot of money. Surely that’s as good as dipping into our Reserves. It seems that MAS is just blurring the issue, saying Article 144 has not been breached.
Let’s recall the reason why we have an Executive President in the first place. According to the PAP, it is to check the govt and to oversee that our reserves are not dipped into frivolously.
History of the Birth of the Elected Presidential System
Yep, you read it right. According to PAP in 1988, one of the functions of the Executive President is to safeguard our Reserves. Now as mentioned, US$4 billion is helluva lot of money.
Why is President Tony Tan sitting on his butt?
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Barrie
* The writer blogs at http://wherebearsroamfree.blogspot.com/

[h=2]India offers $10 billion loan to IMF after parliament approval[/h] July 9th, 2012 | Author: Online Press

(NEW DELHI, 20 Jun) – India on Tuesday committed to extend a $10 billion (over Rs 55,000 crore) lifeline to help ailing Eurozone countries grappling with a sovereign debt crisis, which has slowed down the global economy.

Prime Minister Manmohan Singh announced India’s contribution to the International Monetary Fund’s $456 billion bailout corpus at the G-20 summit at the Mexican resort of Los Cabos. India’s commitment is part of the BRICS funding estimated to be around $75 billion, out of which China’s contribution will be $43 billion. Like India, Brazil and Russia pledged $10 billion each, while South Africa offered $2 billion.

This is the second time in less than a year that India has decided to chip with a generous dose of funding. Last year, it got Parliament to approve a Rs 9,000 crore contribution towards IMF’s New Arrangements to Borrow, a special funding tool meant to provide a lifeline to beleaguered economies. Typically, funding from multilateral agencies is at highly concessional rates but comes with conditions linked to reforms.

In this year’s budget, the finance ministry got parliamentary approval to invest around Rs 56,500 crore in international financial institutions, which officials had said would be used to increase India’s voting rights in multilateral bodies such as IMF.
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Rest of the article from Times of India: http://articles.timesofindia.indiat...32334948_1_brics-economies-eurozone-countries

KJ for finance minister!

Narong Wongwan said:

KJ for finance minister!

Click to expand...

Now I can say "Tiger father no Puppy son" !

This time round KJ has signatures of the late JBJ stamped all over him.