escher says that about a whole host of people, not only you.
Anyway don't be too afraid of dying. We all have to die someday of something.
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MAS / Singapore Fall from Grace ?
- Thread starter scroobal
- Start date
escher says that about a whole host of people, not only you.
Anyway don't be too afraid of dying. We all have to die someday of something.
I personally feel there is some hanky panky going on. I know that the TS mentioned there were 20 banks, but I think the number is now around a dozen only. A few banks that were doing it (fixing and manipulating) before conducted an internal audit, and found their staff was guilty. They quietly took their names of the "panel". The last thing Ai Boon wants is a call from Ravi. Ravi has a good sense of humour, and quite a charming guy, but if members of the ABS were found to be playing punk like that by fixing the SIBOR, i guarantee u that AI Boon will feel like he got caned.
Problem is that short of going into all the traders emails (including deleted ones) to see what correspondence was exchanged by them, it is really difficult to prove the SIBOR was fixed. The SIBOR mirrors the LIBOR rate (which we know is fixed), so the guilty traders can always claim that they did not price fix by pointing to the spread. If the spread is within a certain range for a period of time, hard to prove anything. Also, they look at the US Fed funds rate too when setting SIBOR. Its not like LIBOR which really looks at no other external influences before setting its own rate largely independently.
The other possibility (and its a real one too) was that MAS was knowingly or unknowingly involved in the collusions. MAS have their own traders and are in many ways a "profit making" organization. They were so heavily involved in currency speculation ala George Soros at one time, that IMF had to tell them to stop that shit, because they were contributing to the destabilization of world currencies instead of stabilizing them like what a central bank should be doing. If they can make some money from price fixing the SIBOR, its not within the realm of impossibility that they would not do so.
Under both scenarios, MAS can do nothing. In one scenario, its so hard to prove, and in the other scenario, they are a guilty party too.
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Taiwanese are the best. They see business opportunities everywhere, esp in bad publicity.
Remember that sex tape woman who came to Singapore to perform to capitalize from her fame.
Dont exaggerate. I did not ask you constantly.
I asked you only now and then when your hosannaing for that shit on sole of shoe LKY becoming a verbal deluge of diarrhea.
And when you swing too much to the other side, I reminded you to take your medication for your own good.
Your welfare always considered by me and you cannot deny I taken a center of road path.
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I am also ashamed by their agenda of MAS and or Finance Minister in allowing and facilitating money launderer to move large sums in and out of the country with the issue of big denomination currency notes..the $1000 and $10,000 denomination...
Clearly, such large notes are easily the favourites with the evil dishonest crooks...and drug lords.
The world should look into this and condemn such agenda.
LKY is one of the greatest living legends of our time. He single handedly transformed Singapore. You should show more respect you twit.
Oh fuck him. It was with a team of great men like Toh Chin Chye, Goh Keng Swee, Rajaratnam, Hon Sui Suen etc that build Singapore. Never that bastard LKY. He only go around screwing Singaporeans all the time with his gangster like approach.
You must be the greatest twit of all time.
The 4 Asian Tigers are transformed as well, following after post-war Japan.
China also transformed itself.
You are need to be at the right place at the right time, with a team of smart bright people.
Of course, as a great orator and in the limelight, LKY takes all the credit.
Just like - There are millions of people who believe that Chairman Mao modernised China and is a breat hero. No one question the failed policies of The Great Leap Forward and the Cultural Revolution. Just the Great Famine killed more Chinese than what the Japs did at the Rape of Nanking.
So, the greatness of Lee is also measured by the ruthlessness of Lee towards those who oppose him. He did not stopped destroying lives at the Malaya Emergency, he continued till the Catholic Church Marxism.
His greatest failure is to create a generation of Singaporeans that you condemn in this forum. What happened to that natural entrepreneur instinct of the Chinese Sinkees?
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None of them did it as well as the great LKY. The fact that all he had to work with was a bunch of peasant stock chinks, dumb ah nehs and relac malays made his achievements all the more remarkable.
For your own good that you must drop everything and stick your head into that steel toilet bowl used by 50 Bangla families with diarrhea to shit into.
Your fever in the head will be soothed and you will gain merit and nirvana especially if you are sincere in sticking your head below the liquid line and not peeking up when the ah neh girls are peeing or shitting down.
No need for blame on the large denomination notes. Many ways to do it now, with bearer bonds, interbank transfers, etc. If you bring $2 million USD in $100 bills into singapore, no one at custom will bother you anyway. Once its here, and deposited in a bank (again no one will ask u where u got all this cash), it can be easily transferred to a country with lax or non-existen money laundering rule. Like Switzerland, Cayman Islands, etc.
Don't swallow this PAP propaganda. These people have absolutely nothing to do with the transformation of Singapore into an economic power in SE Asia.
Toh Chin Chye - This guy graduated from uni with a degree in Physiology. Hence he was a medical Dr. more than anything else, was a lecturer in U of SIngapore and than became a vice chancellor at the same University. Exactly what fantastic economic insight did he have in to SIngapore's economy? His contribution was as a whacker of the Barisan Socialist, and co-founder of the PAP.
Goh Keng Swee - This guy was another ivory tower economist. Graduated from LSE with a doctorate in economics, and than when to work for a few months in the Social and Economic Research division. AFter that he became FInance Minister in the first PAP cabinet. U think LSE training so fantastic, allowed him to make all these policies for SIngapore, with practically no experience in Macro economics on a national level? Please, he was not savant.
Rajaratnam - This guy was the worse of the batch. A law school drop out in London, and a journalist in SIngapore. Yes, that is the sum total of his experience before joining the PAP and going into politics. He did not even manage the newspaper. Exactly what kind of skill set would he have brought to the table. Today, the PAP would not dare to field such a weak candidate. Tin woman the exception.
Hon SUi Sen - Finally, we come to the guy who contributed the most to the singapore economy, but not by his training or skill set. After all this guy was a police court magistrate and collector of taxes. He was so unqualified that they send him to the World Bank for an economic management course. However, his saving grace was that while at the World Bank, he met Albert Winsemuis, the dutch economist.
The person most responsible for SIngapore's success was Winsemuis. He was the one who thought up the entrepot, free trade zone, manufacturing industries, etc. The only thing that those 4 bozos and Lee Con You did right was stay out of his way. He designed the policies, and left it in the hands of the ministers to implement. They were smart enough not to mess with his plans or take too much corruption money. Twice a year, he would come to singapore and review the progress and put in place the next year's economic plans. And he did all this for free, not like the politicians today. The transformation of singapore is mostly due to his vision. because lets face it, there was nothing in the CV of the 4 guys and LKY that remotely suggested they had the knowhow and skill to do it.
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boss was right all along... Ang Moh is the best! :o:o:o
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