Serious Anatomy of a S’pore Financial Disaster: GIC’s investment in UBS

[Gallego99]

Just a temporary setback, what gone? Money gone can earn back. Don't forget PAP has good track record making money.

Yup, they have an excellent track record when it comes to 'making money'- the citizens of Singapore.

“Conditions have changed fundamentally since GIC invested in UBS in February 2008, as have UBS strategy and business,” GIC Chief Executive Officer Lim Chow Kiat said early Tuesday in a statement".

For the umpteenth time, there is no such thing as 'long-term' investment. Singaporeans should stop buying the long term investment pitch and BS by these clowns.

“It makes sense now for GIC to reduce its ownership of UBS and to redeploy these resources elsewhere.”

Yup, it makes a lot of sense to lose money after ten years............lol

 

[johnny333]

Just a temporary setback, what gone? Money gone can earn back. Don't forget PAP has good track record making money.

Maybe in the past during LKY's time there were Sporean civil servants who were capable businessmen. The problem started when LKY got too powerful & started to put his family into key positions.

Now that LHL is in charge just look at how poorly they have performed. Trains & elevators breaking down, flash floods, exceeding budgets for YOG, .... The changes made to the CPF indicate serious problems.

I doubt that people will get all their CPF back & I think they will eventually convert the CPF into some kind of annuity.

 

[johnny333]

GST, S-pass levies, maid levies, water up, electric up, grocery price up so smart which government can do that other than the PAP you tell me? Lose a bit of moneys only no scare, we will earn it back tenfolds.

Have you considered the high cost of running Spore?
The salaries of all the civil servants must be massive. Spore also spends billions on defence.

 

[halsey02]

Have you considered the high cost of running Spore?
The salaries of all the civil servants must be massive. Spore also spends billions on defence.

You have just hit the nail on the head, the best part of this, are the 70%, whose heads are nailed. The high cost of running a government plus its machinery plus all their myriad add-ons, like NTUC, PA, etc... is dragging the economy down. It is like a giant, with humungous feet...movement is slow...any crisis, it is frozen on the spot & will topple over....

This those nailed in their heads can't fathom...or see through the fog & haze....white in colour.

 

[halsey02]

Maybe in the past during LKY's time there were Sporean civil servants who were capable businessmen. The problem started when LKY got too powerful & started to put his family into key positions.

Now that LHL is in charge just look at how poorly they have performed. Trains & elevators breaking down, flash floods, exceeding budgets for YOG, .... The changes made to the CPF indicate serious problems.

I doubt that people will get all their CPF back & I think they will eventually convert the CPF into some kind of annuity.

That is why they come out with their feel good for you schemes like CPF life..Medishield Life...this is to lock down the people's monies in CPF.....for all is on paper....you have $xxx,xxxx amount in your CPF....your realising that figure into real hard cash, they will play their brand of 'lightning tai chi' to dissuade you from doing that...who knows, in real hard cash 现金, that $xxx,xxx on paper is only $0.005

 

[Papsmearer]

prc praised sinkielan sky hi n invited sinkielan 2 help build world crass industrial estate in prc ...

Once it is revealed by the Swiss UBS how easy it is to con money from GIC and Temasek and Familee in general, everyone wants to do it. Includes Thaksin and of course, PRC.

 

[po2wq]

... “Conditions have changed fundamentally since GIC invested in UBS in February 2008, as have UBS strategy and business,” GIC Chief Executive Officer Lim Chow Kiat said early Tuesday in a statement".
...

“It makes sense now for GIC to reduce its ownership of UBS and to redeploy these resources elsewhere.” ...

風水佬呃你十年八年 ... feng shui master bluff u 1 decade 8 years ...

2008 - 2017 is oredi 9 years ... using feng shui master as a guide, iz loong enuff liao ...

人生有幾多個十年? ...

iz time 2 deploy resources elsewhere 4 another round ...

 

[halsey02]

Once it is revealed by the Swiss UBS how easy it is to con money from GIC and Temasek and Familee in general, everyone wants to do it. Includes Thaksin and of course, PRC.

Thaksin the 'hakka relative'....another conn, he conned tam ah seck...

 

[Papsmearer]

I think perhaps only a handful know the real situation of our reserves. Even OTC, an ex DPM and Elected President, cant get that information from the PAP. That's how bad the situation is.

That's why LHL is scared that someone not within his inner circle gets to be PM.

I suspect that even the running dog GCT didnt know how much reserve SG had when he was PM. The strongman at that time was LKY, not GCT. If I remember correctly, LYK was Chairman of GIC when GCT was PM

I have the opposite opinion. I think everyone in singapore knows the situation with the national reserves. Even you know it, and I know it. But i can see you are not ready to accept the cold hard truth. Others are too stupid to analyze it but if they did, they will see it too.

The real situation of our reserves is this: There is non. We don't really have any. Our govt debt is 112% of GDP. think about that for a moment. The govt owes more then an entire year of Gross Domestic Product. Even the US debt, with all that printing of money and financing so many wars is only at 104% of GDP.

How do we know there is no reserves? Simple. This is a govt that likes to crow about its successes, be they perceived or real. remember Schooling? If they had so much national reserves accumulated thru so much shrewd investment and so much budget surpluses, they would have swung the door wide open and invited 100 auditors to come in an go thru their accounts. Instead, they stymied, denied and lied to the President of Singapore that they could not calculate the reserves at all. If you have it, you would brag about it, right. If you don't have it, then you give the excuses you gave to Ong Teng Cheong. Simple as that.

 

[Papsmearer]

Thaksin the 'hakka relative'....another conn, he conned tam ah seck...

Conned whore
Jinx and her lackey Iswaran. Who was later promoted to Minister for the fantastic job he did on getting conned.

 

[halsey02]

Conned whore
Jinx and her lackey Iswaran. Who was later promoted to Minister for the fantastic job he did on getting conned.

I will shake my head every time, I read things like this...nowhere on this earth , we see such absurdity of people getting promoted by being utterly incompetence & best part...still around earning a fat salary while hiding behind "pillars", one example, "wong cunt sing"!!

But these people will tell you, the voters agreed....the same echo you hear about the Conn Hee Fart!..CHOY! case....the congregation approved & agreed.....the same congregation, that makes up the bulk of the voters who voted for these people...who are the "pillars" of society..

Have said this many times....' WE ARE TRULY FUCKED"...

 

[nayr69sg]

Aiyah you all talk so much say sinkieland is fucked, reserves are zero kpkb but still buy singapore property collect rent still have CPF account still live in Singapore.

WTF? Eh this is not like supporting football club ok? Not like all those Tottenham supporters wait so long but still no trophies but got 2nd very happy liao.

No point saying all these things but still be part of the whole sinkie machinery and earn money on the backs of PAP policies eg housing banking etc.

All hypocrites no action talk only

And some shameless some more will try to take credit for things that they did not do.

Despise this type of people.

 

[Ralders]

Talk so much for what.
Want go just go.
Talk like auntie in market.

 

[rusty]

I have the opposite opinion. I think everyone in singapore knows the situation with the national reserves. Even you know it, and I know it. But i can see you are not ready to accept the cold hard truth. Others are too stupid to analyze it but if they did, they will see it too.

The real situation of our reserves is this: There is non. We don't really have any. Our govt debt is 112% of GDP. think about that for a moment. The govt owes more then an entire year of Gross Domestic Product. Even the US debt, with all that printing of money and financing so many wars is only at 104% of GDP.

How do we know there is no reserves? Simple. This is a govt that likes to crow about its successes, be they perceived or real. remember Schooling? If they had so much national reserves accumulated thru so much shrewd investment and so much budget surpluses, they would have swung the door wide open and invited 100 auditors to come in an go thru their accounts. Instead, they stymied, denied and lied to the President of Singapore that they could not calculate the reserves at all. If you have it, you would brag about it, right. If you don't have it, then you give the excuses you gave to Ong Teng Cheong. Simple as that.

If PAP lose, the first thing the new gov should do is lock down the airport and seal all other exits until all investigations on every single mother fuckers in White are completed.

 

[Froggy]

I lucky I run road liao. However difficult and painful the road I have to travel is still better what I used to experience in sinkiedisneyland. All worth it.

 

[halsey02]

Aiyah you all talk so much say sinkieland is fucked, reserves are zero kpkb but still buy singapore property collect rent still have CPF account still live in Singapore.

WTF? Eh this is not like supporting football club ok? Not like all those Tottenham supporters wait so long but still no trophies but got 2nd very happy liao.

No point saying all these things but still be part of the whole sinkie machinery and earn money on the backs of PAP policies eg housing banking etc.

All hypocrites no action talk only

And some shameless some more will try to take credit for things that they did not do.

Despise this type of people.

Many of us, born, live & die here, I would have left years ago but some reason...can't do this. I live with the hope to live to the day that the PAP majority will be greatly reduced & become an opposition like they were before. Have lived a life to see, them, turned into a 'beast' & greatly dismay that the 70% cannot see through the fog & haze. Without a doubt, we still have reserves, we still have money in CPF, BUT HOW BADLY IT IS DEPLETED, WE SHALL NEVER KNOW. But, that is when these people become a minority & we all in the light of the day, open up the darkness & exposed it to the light, but then again, can we stomach, we what we see, & what we will know?

It is not KPKB....if we stop 'baying'....things might gets worse...if there wasn't any 'baying' by the 'silent minority', many of the changes if there were any today..will not have happened..

We still have to continue to 'bay at the moon'....I hope I see the day, in which the younger generation see the 'light' & hope to see the day..they become an opposition party & see the day, to see, those responsible be held accountable for the mistakes, inefficiencies, be brought to light.

I do hope that I do not live to read & see the nightmare of reading from the media or opening up the newspaper & read..." your CPF money, was $10,000 is now $10"

 

[Papsmearer]

If PAP lose, the first thing the new gov should do is lock down the airport and seal all other exits until all investigations on every single mother fuckers in White are completed.

that is exactly right. They will use the navy to bottle up our long coastline. Not only the scums, but also their relatives too. and freeze all their accounts in the banks.

 

[Papsmearer]

Aiyah you all talk so much say sinkieland is fucked, reserves are zero kpkb but still buy singapore property collect rent still have CPF account still live in Singapore.

WTF? Eh this is not like supporting football club ok? Not like all those Tottenham supporters wait so long but still no trophies but got 2nd very happy liao.

No point saying all these things but still be part of the whole sinkie machinery and earn money on the backs of PAP policies eg housing banking etc.

All hypocrites no action talk only

And some shameless some more will try to take credit for things that they did not do.

Despise this type of people.

Well, i despise assholes like you too. pretend to be buddy buddy, and then turn round and call people hypocrites? who is the hypocrite now?

Only a fucktard like you don't realize you can still make money from a sinking ship. FTs come here and make money off the system. PAP elites and their family make money off the system. Why can't I make money too? I am born and raised here, you mean I cannot make a profit but everyone else can? Fuck your cheebye ok? Its the least I can do to the moronic 70% that voted for the PAP.

 

[Narong Wongwan]

Well, i despise assholes like you too. pretend to be buddy buddy, and then turn round and call people hypocrites? who is the hypocrite now?

Only a fucktard like you don't realize you can still make money from a sinking ship. FTs come here and make money off the system. PAP elites and their family make money off the system. Why can't I make money too? I am born and raised here, you mean I cannot make a profit but everyone else can? Fuck your cheebye ok? Its the least I can do to the moronic 70% that voted for the PAP.

Not happy fuck off, migrate.
Not happy with pap then join politics form opposition party.
This type is old fart's rhetoric....
I say lanjiao to that. Want to go or want to say is not your motherfucking cb business. Every sinkie got a right to stay.

 

[Yamato]

It looks more like US$4,000,000,000.00 yes US$4 Billion of loss according to this recent report in ST

http://www.straitstimes.com/business/companies-markets/gic-faces-possible-558b-loss-on-ubs-bet