Ringgit Akan Jatuh : Husni Tak Faham Apa Dia Cakap

This is from The Malay Mail here:

Minister: Malaysian ringgit could plunge to 1998 levels if 1MDB debt unpaid

• Husni warns if 1MDB debt not resolved, negative events impact economy
• 1MDB downgrade credit outlook, plunge in value of ringgit
• if Putrajaya forced to shoulder RM42b on top of dev. expenditure RM52b 
• govt fail to meet targeted deficit of 3.2% and revert to over 4%
• ratings will drop, currency will drop like in 1998,.. how to pay debts?
• must solve issue of debt so people do not have to worry,” he said 
• Putrajaya accountable for RM11.1b loan secured using letter of support
• Moody’s said govt support of 1MDB jeopardise sovereign credit rating
• chain of negative effects if 1MDB’s debt passed to govt
• Husni stressed in same interview no money yet been lost by 1MDB
• banking sector first to chase firm ..to avoid non-performing loans
• “financial sector is quiet, means issue of money lost not there”

- See more at: http://m.themalaymailonline.com/malaysia/article/minister-malaysian-ringgit-could-plunge-to-1998-levels-if-1mdb-debt-unpaid#sthash.EARbwdFD.dpuf

My comments : Who asked you to incur so much debt idiot? 

And if 1MDB is such a great investment, if it is so profitable, then why worry about 1MDB not being able to pay its debts?  Just use the billions of profits that 1MDB is making and settle all the debts. Why complain that if 1MDB debts are not paid then Malaysians will all suffer? Why put the burden on the people?  Husni Hanadzlah should just resign. Najib should resign as well.

In 1998 the entire Asian region was hit by the money speculators particularly George Soros. Thailand was hit before us, also  South Korea and Indonesia. They  all suffered from the Asian Contagion.   

This time the other Asian economies are much stronger and robust. The Phillipine economy is racing ahead, the strongest economy in ASEAN. 

Only Malaysia is facing bankruptcy because the Advisor to 1MDB has been conned by a 29 year old Chinese boy. 

RM42 Billion of taxpayers money has disappeared. RM27 Billion has literally gone out the window. 

RM2.6 Billion was paid to Jho Low for nothing. That was stolen money.

The remaining RM15 Billion has been used to buy end of shelf life and "license almost expired" power plants at exhorbitant prices - way above market value. That money is also almost as good as gone. 

In 1998 the country's economy was strong.  Despite the Asian Financial Crisis the government had enough money to pay all its debts. Our credit ratings were never downgraded by Moody's or by anyone else. 

We recovered well and went on to record 7%, 8% and even 9% growth. Now we can barely get past 5% growth.

This is not the fault of the Malaysian people. This is the fault of the clueless morons who are our prime minister and the members of the Cabinet.  Including Husni Hanadzlah.  

These people must be held accountable for this gross incompetence, dishonesty and stupidity.