Tan See Jay's DA VINCI CODE On Our Reserves...

[ahleebabasingaporethief]

STUPID Vivien took the bait and said $60b was alot. Since then no PAPIE dare to speak of the $60b figure

Many have heard rumours that as much as $200-$400b of our reserves was lost in the financial crisis.

Also TSJ very smart. He keeps saying if our reserves were $600b or $1 trillion, $60b is very small. WE ALL KNOW Singapore do not have $600b let alone $1 trillion in reserves.

So TSJ is doing a ONG TENG CHEONG. Very smart indeed.
<input id="gwProxy" type="hidden"><!--Session data--><input onclick="if(typeof(jsCall)=='function'){jsCall();}else{setTimeout('jsCall()',500);}" id="jsProxy" type="hidden">

 

[SpareTyre]

Actually, the commonly accepted international estimates puts GIC/Temasek at a combined USD$500billion, or just over SGP$600billion (or SGP$750billion if they were smart to move out of USD denominated assets before 2008)

$500 billion works out to $230,000 per voter
$600 billion is $270,000 per voter
$750 billion is $340,000 per voter

Shouldn't voters have the right to be concerned if the prime minister's wife somehow lost the equivalent of $110,000 per voter between 2008-2009?

Right now people don't really care because its not their money. But actually, reserves are the people's money. Instead of looking at it as $200billion of government money lost (if that is indeed what is lost)....we can also see it as actually being $100,000 per voter's money lost.

http://www.banque-france.fr/gb/publications/telechar/focus/focus_1.pdf
http://www.economist.com/node/10533428

 

[ahleebabasingaporethief]

600b-400 = 200b left.

60b divided by $200b is really alot.......... So Vivian was telling the truth, TSJ sprang the trap, and Vivian swallowed wholesale.....<input id="gwProxy" type="hidden"><!--Session data--><input onclick="if(typeof(jsCall)=='function'){jsCall();}else{setTimeout('jsCall()',500);}" id="jsProxy" type="hidden">

 

[Windsor]

Tan Jee Say's proposal of using $60 billion is over a period of 5 years which is $12 billion per year. He was working under Goh Keng Swee at one time, and has the credentials and track records which GCT and MM Lee was saying otherwise.

 

[SpareTyre]

Tan Jee Say's proposal of using $60 billion is over a period of 5 years which is $12 billion per year. He was working under Goh Keng Swee at one time, and has the credentials and track records which GCT and MM Lee was saying otherwise.

$12 billion a year out of a total estimated sum of $600billion is only 2%

Given that Temasek Holdings has declared an average annual return of 15% from 2003-2009, 2% is actually a pretty conservative sum

I would like to see GIC/Temasek accounts be completely opened up, and like the Reform Party suggests, all adult Singaporeans who have lived here for more than 10 years and have done NS should get some sort of stake. Assuming a stake of $230,000 per voter, then 15% annual returns of that is $34,500 per voter! That in turn means over the span of a 5 year election term, Ho-Ching and her hubby chalks up $172,000 per adult citizen and all they give you is that lousy few hundreds at the start of each election.

I like to see that every year, about one third of the returns goes direct to citizens in the form of cash. Another portion towards inflation hedges and management fees, and the rest is either retained or re-invested into essential services. And all this needs to be transparent, and independent of the PAP.

Why is the Lee family intent of keeping a stranglehold on the reserves accumulated by our parents and grandparents hardwork? Its 'national reserves' so they belong to the nation. Not to a party, and certainly not to a family

 

[ahleebabasingaporethief]

SpareTyre...you are assuming nothing from our reserves was lost during the financial crisis.

I am assuming we lost 200-400b....

If nothing lost $60b is small change. But if 200-400b lost, it is plenty of money according to Vivian.

So depending on what TSJ 'hidden' message is. I still called it a TRAP....which Vivian stepped into and since have kept very quiet.
<input id="gwProxy" type="hidden"><!--Session data--><input onclick="if(typeof(jsCall)=='function'){jsCall();}else{setTimeout('jsCall()',500);}" id="jsProxy" type="hidden">

 

[Rogue Trader]

We must note that the $60 million is a capital expenditure, not an expense. This amount will be an investment to singapore and singaporeans with returns in productivity and growth.

 

[karmabear]

I had a very bad impression of SDP until TJS and Dr Ang joined. I was reading an interview done by those two and TJS mentioned he was totally against the casino idea and advocating we spend more on hospitals and schools. the question he posed was which jobs do we wnt our children to work towards? Croupiers and dealers or doctors and teachers. After that, I had to go see one of their rallies at least.

We can certainly use more hospitals and schools that's for sure! I am noticing heck a lot of FTs in the hospitals now. And our classes are still 40+ to a teacher. Wtf? And we got money to blow $387m on YOG?

 

[leoman]

with tan js, ang yg, vincent, sdp became a rejuvenated sdp
dr chee has turn a gd ear 2 all members
but still
papians-controlled paper still keep trying pressing 'em down

I had a very bad impression of SDP until TJS and Dr Ang joined. I was reading an interview done by those two and TJS mentioned he was totally against the casino idea and advocating we spend more on hospitals and schools. the question he posed was which jobs do we wnt our children to work towards? Croupiers and dealers or doctors and teachers. After that, I had to go see one of their rallies at least.

We can certainly use more hospitals and schools that's for sure! I am noticing heck a lot of FTs in the hospitals now. And our classes are still 40+ to a teacher. Wtf? And we got money to blow $387m on YOG?

 

[Windsor]

I had a very bad impression of SDP until TJS and Dr Ang joined. I was reading an interview done by those two and TJS mentioned he was totally against the casino idea and advocating we spend more on hospitals and schools. the question he posed was which jobs do we wnt our children to work towards? Croupiers and dealers or doctors and teachers. After that, I had to go see one of their rallies at least.

We can certainly use more hospitals and schools that's for sure! I am noticing heck a lot of FTs in the hospitals now. And our classes are still 40+ to a teacher. Wtf? And we got money to blow $387m on YOG?

Bala spent $387 million in the YOG event which was how many days? One fifth of $2 billion ($10 billion) which Tan Jee Say proposed be used to built more schools, have more teachers, less students per class, and various courses to encourage our youths to be creative, innovative and have the entreprenuel spirit.

Blowing away $387 million on a sports events is not small change and he cannot even afford to give more than an additional $1.00 a day to our destitute. When it is spending millions on an inconsequential event it is good because we can well afford it, but placing Singaporeans welfare above all he refuses to do. Now when there is an election, the PAP is falling all over themselves with protestations of understanding peasants plight and how they want to offer financial assistance and asking hawkers not to increase prices and blah blah blah. What is all this shit talk you ask me?

 

[ivebert]

Bala spent $387 million in the YOG event which was how many days? One fifth of $2 billion ($10 billion) which Tan Jee Say proposed be used to built more schools, have more teachers, less students per class, and various courses to encourage our youths to be creative, innovative and have the entreprenuel spirit.

Blowing away $387 million on a sports events is not small change and he cannot even afford to give more than an additional $1.00 a day to our destitute. When it is spending millions on an inconsequential event it is good because we can well afford it, but placing Singaporeans welfare above all he refuses to do. Now when there is an election, the PAP is falling all over themselves with protestations of understanding peasants plight and how they want to offer financial assistance and asking hawkers not to increase prices and blah blah blah. What is all this shit talk you ask me?

Dude

About the $387 million

Can you use your brains and tell us who received most of the $$$?

Builders, logistic companies, airlines, hotels etc etc
Aren't these Singaporeans-run companies????

 

[Soul_Reaper]

Dude

About the $387 million

Can you use your brains and tell us who received most of the $$$?

Builders, logistic companies, airlines, hotels etc etc
Aren't these Singaporeans-run companies????

I thought some forummers here wrote that the bulk of the budget overrun occurred because VB used the money to pay the airfares, expenses and even gave shopping allowances to the participants so that these participants show face at the YOG.

 

[SpareTyre]

387 million for YOG overbudget by 300% because of spendthrift ways, but not even an extra plate of chicken rice for the 70, 80, 90 year olds cleaning hawker tables and collecting cardboard.

If you vote for Vivian, you are creating bad karma for yourself. Whether you are Muslim, Christian or Buddhist, Vivian's action goes against all their teachings.

If you vote Vivian out and put some fear into PAP to motivate them to finally do the right thing, you have played a role in bettering the lives of thousands of elderly poor.

 

[Narong Wongwan]

I thought some forummers here wrote that the bulk of the budget overrun occurred because VB used the money to pay the airfares, expenses and even gave shopping allowances to the participants so that these participants show face at the YOG.

Guess most of us will never know since they have refused to debate on this topic.
Vote the opposition in and we can open the accounts and get to the bottom of this.