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2/11/2009

I posted this article on 27 Dec 08

Wishful thinking or wicked intent In March this year the official figure given was that Temasek was managing $185b of assets. If these were in equity or equity related assets and stocks, my guesstimate is that it would have lost 50% of its value at least. But the figure will be much better if kept in fixed deposits or less risky assets that are saved from the financial crisis. If the loss is in the 50% region, I said if, the loss must be made up from somewhere. I fear the money in CPF. Would the minimum sum and Medisave be further increased? Would the withdrawal age be further delayed? Would there be new measures to shift the goal posts? There are now more reasons to wish that our investments are intact, that the talented fund managers are doing well to keep them growing or at least not losing. There are more reasons not to change the govt so that the talents and the continuity will help to safeguard our assets and investments, and our future. The CPF is like a sacred cow. It is the people's hard earned money and must rightfully return to the people for their own benefit at the earliest possible time. Definitely not till they are dead or near death. This is simply bad. I have all the time this bad feeling, and I can be totally wrong on this, that there are people with designs on our CPF money. To keep the CPF for as long as possible to enable them a cheap source of fund for their own investment schemes. I hope I am wrong. I hope the real reasons to keep the money for as long as they can is really for the good of the people, in the interests of the owners. But should anyone really have wrongful designs, they must know that the designs are wicked and will do them no good. The first is the intent to 'sapu' money. No one should ever think of it as the CPF money rightly belongs to the people and depriving the people from getting it back is already sinful, if not criminal. Decent and honourable people who believe in not doing evil should never harbour such thoughts. The second intent to use the money for whatever schemes or things, may include thoughts of returning the gains to the people, if there are gains, may have some mitigating factors to lower the ill effects of the first intent. But if it is just to exploit this cheap source of fund with no regards to rewarding the owner of the money, it is unforgiveable. Seeing it in any other way is still a dirty thing to do. Do I sound like preaching or delivering a sermon? The rights and wrongs of such acts and intents are difficult to dispute or wish away. Do not have designs on the people's hard earned money for private interests. If there are, it is better to let the owners know and seek their permission and forgiveness. Do not temper with money that is not yours.

15 comments:

Anonymous said...

Sin deters not ill intent

and

the evils are not afraid of

committing sins.

There are no Law to punish the

sinful.

patriot

Matilah_Singapura said...

> No one should ever think of it as the CPF money rightly belongs to the people and depriving the people from getting it back is already sinful, if not criminal. <

This is nonsense. Once CPF is paid in (by force) it is GONE. CPF is a TAX, used to fund an ongoing pyramid (aka Ponzi, Madoff) scheme.

It is simply foolish to believe that the money you've paid in is actually "yours". It is not: No matter what you are told or what other people choose to believe, and then try and convince you that just because you're issued a 'statement of account', by some 'magic' process the money is actually kept there in your name.

Redbean is writing rubbish about bullshit. He some how 'mystically' believes that the CPF account which bears his name is actually 'his money'.

Before proceeding with any stylo-milo arguments redbean, first PROVE that the money in CPF belongs to whoever's name is on the statement. If you fail to do this, then how can you argue about 'who's money' 'it's our money' and associated nonsense.

Anonymous said...

I believe Redbean, like me, already took out his CPF money after setting aside the minimum sum and medisave amounts.

What we took out, that is beyond any doubt that it belongs to us. I also bought an annuity with the minimum sum. So that money is also taken out and I can safely say it also belongs to me.

As for my medisave account, well, it is still there, and is less consequential, since it is not a big sum.

I am quite safe, however they tinker with the CPF rules, thank God!

Lost Citizen

redbean said...

matilah, why must you be such an ass? can't you leave me alone to daydream and be a little naive?

lost, you are lucky. i may have taken the bulk back, but my medisave alone is $30k which i may not see or touch.

i am very angry.

Anonymous said...

matilah, the cpf is yours only if you renounce your citizenship.Otherwise the Medisave and/or Minimum Sum components belong to your heirs.

Matilah_Singapura said...

redbean, day dreaming again:

> my medisave alone is $30k which i may not see or touch. <

If it is really "your" medisave, then you can do as you please.

It is "yours" as the famous saying goes in name only

anon 1110

> the cpf is yours only if you renounce your citizenship <

I say again (obviously people are still unclear on this):

Whatever they give you is "yours" in name only.

As in every pyramid scheme, there is a constant pool of "suckers" who are force to pay into the scheme out of every pay-check.

The number of people who emigrate and renounce their citizenship will always be a lot LESS than the billions the "suckers" pay in every month.

Thus, the pyramid scheme continues. All "accounts" are in name only.

redbean said...

why do you think i am so angry and kpkb every now and then?

Anonymous said...

Redbean;

Matilah Singapura is upset that You seems to always side with the Leaders.

Please do not flame me,

it is only my guess.

patriot

redbean said...

hi patriot,

matilah is never upset about anything. he is only upset when he had one too many. he is a survival.

Anonymous said...

Anyone out of SIN not only survives, they will survive well and happy.

I envy them, You know?

Not jealous arh!

patriot

Matilah_Singapura said...

Do you think you know me better than I do and can read my mind?

Asshole :)

redbean said...

this is how friendly matilah can get. sometimes people just got confused, or matilah got confused.

Matilah_Singapura said...

I tell you, there's no putting down a smart-ass.

Here is a dude trying to explain "me" to myself, and he's not going to give up until some moron gives him a literary award or the Nobel Prize.

Dude, I'm not that important.

I liked it better when you didn't care a fuck about me. Now that you've given me so much attention, I feel obliged to reciprocate.

Thankfully, I don't take on obligations. So fuck you!

redbean said...

matilah, you are one joker that can't handle attention. better don't become an actor or celebrity.

smile you are on candid camera.

Matilah_Singapura said...

redbean, you definitely can't handle intelligence. After being told to "{get fucked" by me you still continue with your ANALysis of my character.

Better join the government -- they could use people like you!