"penyelesaiannya itu melalui De-Dollarisation" ?? Kepala Hotak Kau. Kau belajar okonomi bawah pokok pisang apa?

I have adapted this from  J.Ligunjang JP MySabah (taking it in good faith, someone sent me a WhatsApp).

*Madani misfortune in managing Malaysian economy may cost him dearly.*

The weakening ringgit has entered unfamiliar territory, raising concerns amidst diplomatic tensions with the US. With the current exchange rate at 4.74 ringgit to the dollar, Malaysians will face higher prices for everyday goods due to increased import costs. 

It is worth noting that when Madani assumed the positions the ringgit was trading at 4.4 to the dollar.

Madani will likely bear the brunt of blame for this economic turmoil, being seen as responsible for the rising prices of essentials. 

Many will view him as the architect of his own misfortune due to his decisions and actions that have weakened the economy. 

His involvement in political controversies and open support for Hamas may have significant consequences, potentially contributing to further economic slowdown and instability. 

Malaysians may perceive Madani as a hindrance to economic progress and stability, fueling the perception that he is responsible for their financial hardships.

J.Ligunjang JP MySabah
1st November 2023

 

My Comments : 

I listened to his speech in Parliament (again someone sent it to me via WhatsApp) where he says that the cure for the falling Ringgit is through "de-dollarisation"!!

"penyelesaiannya itu melalui De-Dollarisation"

Hello thambi Bank Negara Malaysia arent you supposed to be the adviser to this fellow? Why dont you give him some useful advice about the Ringgit?

What has de-dollarisation have anything to do with the value of the Ringgit?

The value of the Ringgit is determined by the demand FOR THE VALUE OF THE  goods and services  produced by our people and exported overseas to the rest of the world.

The more goods and services we produce and export AND THE HIGHER THEIR VALUE then the greater the demand for Ringgit and hence the Ringgits value will go up.

The value of the Ringgit has got nothing to do with the US Dollar. 

We need some other currency like the Singapore Dollar, US Dollar, Swiss Franc, Chinese Yuan etc as a yardstick or measure to compare the value of the Ringgit. 

But the value of the Ringgit does not depend on the value of the  Singapore Dollar, US Dollar, Swiss Franc or Chinese Yuan.

The Singapore Dollar has also appreciated plenty against the Ringgit. So do we also de-Singapore-dollarise?

The Swiss Franc has also appreciated against the Ringgit. So do we also de-Swiss-franc?

This is what we have pretending to be managing things. 

Hancur lah kita. The country is in serious trouble with this type of fellow running things.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.