Agree. Still goes down to economic fundamentals.
One is the commodity overlord.
One is the manufacturing overlord with big local market.
Last one is the debt ridden war machine exporting LGBT TV streaming.
Choose your horse.
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Serious Singapore spend so much USD to prop up SGD?
- Thread starter hbk75
- Start date
One is the commodity overlord.
One is the manufacturing overlord with big local market.
Last one is the debt ridden war machine exporting LGBT TV streaming.
Choose your horse.
Saudi and gulf states should start a new middle east currency pegged to its oil and gas wealth. That will be something else.
Putin has already won the war. US and uk wants to prolong it. A united europe csn rival anglo saxon hegemony.
Root cause of fluctuation are the sanctions imposed on russia. US seizing russian ships and tankers.
Putin waited 8 years for ukraine to solve its domestic civil war. The country has split so best to make it official.
US is not the manufacturing power like in the 1970's. It has outsourced tbat outsource elsewhere.to. bring it back, it need to subsidise and give industries incentives.otherwise, it will not be competitive. Top two car brands in US belongs to the Japanese. Chevy and ford after that.
The whole idea of ukraine instability was to get europe in trouble, and get its massive wealth inyo the US. It has worked snd the poor europeans are now dumping their gomen for a more russian friendly ones.
The previous 2 guys from there tried to and met horrible ends. One had his country invaded twice and then got hanged. The other guy got "colour revolutioned", got hunted like a dog, got a knife stuck up his asshole and then got shot
Those two were not from a powerful oil exporting countries so no clout.
ccp struggles to defend the yuan. if usd is appreciating in value rapidly nobody will wish to dump it based on basic economic logic. ccp cocksuckers must be secretly buying usd outside of prc for their own greedy and selfish reasons. truly fucked up.
billionaires who set up family offices in sg and park their wealth there must be stashing assets except houses denominated in usd and not in sgd. i park some cash in sg banks but they advise me to keep in usd.
There may be a misconception that because we used up USD 128 Billion - 1/3 of our reserves - to prop up the SGD dollar, we have lost big time. We have not lost a single cent! What we lose in USD we gain in SGD. The MAS are not buying up SGD held by ordinary Singaporeans, but mopping up the SGD holdings of international institutional investors/speculators. It is equivalent to a bonds buyback - repaying debts that we incurred through "borrowing".
The main purpose of keeping USD reserves is to prepare for such times when our currency is under attack; smart people don't hold USD reserves because they just love the USD. The current US rate hike is a direct attack on the worlds currency order. Finances in many countries are run by "politician" who cannot pass common sense Economic 101! It is lucky that our people at MAS has some basic understanding of what is happening.
I think the Singapore economy is basically manufacturing based and many need inputs from imports to run. If the SGD were to drop 15% and last for 2/3 years, then our economy would be harmed. So this is the main reason the MAS prop up the SGD in line with the rise of the USD. Many countries have their currencies dropping 15/20% and that is serious depreciation.
Best regards,
Chan Rasjid,
"Einstein's E=mc2 Invalid"
http://www.emc2fails.com
The main purpose of keeping USD reserves is to prepare for such times when our currency is under attack; smart people don't hold USD reserves because they just love the USD. The current US rate hike is a direct attack on the worlds currency order. Finances in many countries are run by "politician" who cannot pass common sense Economic 101! It is lucky that our people at MAS has some basic understanding of what is happening.
I think the Singapore economy is basically manufacturing based and many need inputs from imports to run. If the SGD were to drop 15% and last for 2/3 years, then our economy would be harmed. So this is the main reason the MAS prop up the SGD in line with the rise of the USD. Many countries have their currencies dropping 15/20% and that is serious depreciation.
Best regards,
Chan Rasjid,
"Einstein's E=mc2 Invalid"
http://www.emc2fails.com
Saddam had arguably the most powerful military in the 90s Middle East and Gaddafi's was no slouch either by African nations' standards. Both were strongman dictorships propped up and armed by US once upon a time.
And then they went rogue and paid for it
If brics do it. U think fuck joe Biden will go hoot Putin?
They were both preparing to get out of the petro dollar before they were forcefully removed. Control oil and you control the country. Getting out of the petro dollar is a big no no.
I still believe nuclear countries will never go directly against one another. They rather fight proxy wars as sponsors like in Vietnam, Afghanistan, Syria, Ukraine, Taiwan etc
Out of the brics countries, only Brazil isn't nuclear armed. South Africa used to have nukes and they should be able to rearm if needed.
The dollar is dominant because its value as a currency is (was?) trusted. If many economies start to unsubscribe to this belief then the system will just unravel
The european and major funds and wealthy individuals are dumping their money into the US currently.
But countries like china are slowly letting go off usd reserve and its not safe anymore. It can be seized without notice. No more tge reserve currency.
Saudi too will not hold onto USD. They all must find something more credible.
saudis not stupid like you lah. if usd is appreciating they will hoard it. just like my banks in sg are advising me. “don’t change to sgd, keep usd in your accounts as interest rates are also higher if deposits are in usd.”
That's right.
talk cock lah. look at how much usd they’re hoarding for the riyal to be on par with or even better than usd as oil prices shoot up.
nowadays with china n russia the middle east combined, usa and allies fight the brics also bo pow yah
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