Dr M: Welcome to 'Darul Penyangak'

In the past, Malaysia has been described as "Bolehland", the land of "endless possibilities" and more recently, a "kleptocracy".

However, for Pakatan Harapan chairperson Dr Mahathir Mohamad, the term "Darul Penyangak"  (land of thieves) would more aptly describe the country's present circumstances.

"In a Darul Penyangak, the rulers steal... the goal is to steal from the rakyat through legal means, but more often through illegal means," wrote Mahathir on his blog today.

Elaborating, Mahathir alleged that a certain sovereign wealth fund was one such method of theft.

"The process is simple: A company borrows billions, guaranteed by the government. The money is invested in fictitious companies which own oil fields on paper.

"In truth, the money went to the accounts of certain people. It is transferred from one bank to another, in different countries. In the end, the money ends up in MO1's account.

"When MO1 is asked where the billions came from, the answer is simple: It was donated by the Arabs," wrote Mahathir.

Abuse of the system

As for the "legal" means of theft, Mahathir said this included the GST and the removal of subsidies.

"Based on our laws, it's legal. But to the rakyat, the effect is the same as theft," said Mahathir.

Another characteristic of Darul Penyangak, said Mahathir, is that the authorities, such as the tax collectors and graft enforcers, would be abused.

Such actions would result in the freezing of bank accounts owned by companies or individuals who are sympathetic or involved with the opposition.

"The money in the bank is frozen. The firm can't function or pay salaries... Meanwhile, evidence would be dug up while the detainees would be gifted an orange shirt with the word 'lokap' (lock-up).

"Reporters would take photographs and the public would see the 'criminal' before they can be convicted," he said.

New masters

Meanwhile, Mahathir warned that Darul Penyangak's  penchant for borrowing money to fund its excesses will need to be paid back eventually.

He said many state agencies were compelled to purchase bonds issued by the government in order to finance old loans, therefore creating a debt trap.

"If there is not enough money for new loans, it is not a problem. The country can be sold, piece by piece.

"Some of the proceeds will be used to finance the loans while the rest would end up with the thieves.

"That is a debt repayment solution, but Darul Penyangak will already be owned by someone else and the rakyat will become the slaves," he wrote.- Mkini