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Wednesday, October 19, 2016

FROM PM TO JAILBIRD? BE CAREFUL NAJIB – REMEMBER WHAT S’PORE DID TO NICK LEESON, THE MAN WHO MESSED UP THEIR BANKING SYSTEM

Salam Pak Hussein,
 
October  is interesting. Deepavali  on 29 Oct.  The festival of  lights is already shining into the Rumah Putih in Washington  DC,  exposing the  1MDM elephant hiding  in the living room. Please watch attached video.   
The greasy tentacles of kleptocracy has  opened doors in the corridors of power. Of course,rupanya Cash is King.  Otherwise where has Obama san the time for a golf game with our Emperor , who has “something  to hide”. The  pre paid green fees   must be substantial   to get to play golf with one of  most powerful man in the world.   What has the nation benefited from this  golf encounter?
In October too, the stench of the rotting 1 MDB elephant has found its way into the courts  of the   Red dot at the Equator. Four  people  has been charged  for fraud and money laundering.  Falcon Bank  was unceremoniously  asked to gulung tikar.
Remember the rogue trader, Nick Leeson who brought down Baring Bank single handedly. Leeson was jailed.  The integrity of   Singapore’s bank  system is sacred and cannot be compromised.  They will fumigate those who dare to test the authority and integrity of the State.
Despite the DOJ implicating MO 1 in the ‘theft’ of sovereign fund, no offence has been committed in Bolehland. No humans are involved so far. Only one bank was fined RM56M??. Newly minted BNM Governor stated that the case is closed. Where has the money gone ?
Coming this Friday 21 Oct, Malaysians also wait with abated breath, for the tabling of the 2017 Budget in the Dewan.  Many expect a pre election sugar  coated cyanide budget. The usual goodies will likely be,  more BRIM, special bonus for civil servants and pensioners, income tax rebates, one off incentives for the motor industry or housing developers to boost sales, pura pura rakyat diutamakan.
The reality is, the government is scrapping at the bottom of the oil barrel. It is the result of bad management of the nation’s  wealth, when the going was good. There is  no talk of any austerity drive so far. Governments get revenue from taxes or loans to spend. Easier path is to tax.
Nasi lemak bungkus daun pisang is now RM1.50 with a quarter slice of a Grade D hard boiled egg, with a dash of sambal. U  need a magnifying glass to look for the ikan bilis plus two thin slices oftimun.  Najib roti canai (withoout telor) is now RM1.50 to 1.60 and need to order 2 pieces at one go for a decent breakfast. Gone are the days of ‘beberapa sen’ purchases.
The main culprit is a weak Ringgit. Now the 1AUD is over RM3.20 (or RM4.27 for 1 USD). A weak currency will make a nation poorer. Thekampong folks will go hungry first as prices of essentials hit the roof. 
 
Instead, the budget to should focus on austerity and export promotion. Ministers should cut their “working visits (for themselves)”, “dialogues with Msian students overseas” and ‘makan angin Conferences and seminars”. There is plenty of work to be done at home. ..including playing golf locally. The GLCs (eg SPAD,IWK, SPAN) is a duplication of the ineffective Ministry’s functions, relying  on off budget funding, making rakyat pay more.  
Unfortunately once elected, our YB do not think that way. Usually without realizing it, they speak from the posterior end of their alimentary canal, eg saying GST will reduce prices,ugh??, make ends meet by working 3 jobs, 1MDB money is in units kept overseas.    
So “Steady” Pak, you have written much of what is said and more eloquently. We look forward to a better November. Keep your keyboard running!!
 
Good morning to you.with Depavali light saving Eastern time?
Kirim salam  to your Mrs.
stephen khaw
– http://steadyaku-steadyaku-husseinhamid.blogspot.my/

2 comments:

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