Singapore GIC's 5 months fling with OneSteel ended in paper losses

[Papsmearer]

Forget bonds, if you put your cash under the mattress you could even outperform GIC. That's really sad.

Hahahah, that is a sad but true fact. In fact, back when the MOF set up Temasek, they don't need to diversify or do anything else other than buy gold bars. If every year, they channel their surplus and reserves into gold bars, singaporeans will chiak buay liao now. Last time in the 80s, gold only ay USD$400 per oz. Now, over $1000. Second benefit is that the singapore dollar will be actually backed up by gold. Imagine how strong it will be.