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9/17/2011

Referendum to sell Singapore

At the rate it is going, in 30 or 50 years time, the original Singaporeans will be a minority in the city state. Either they failed to reproduce or they migrated. We used to be 2m. Now we are nearly 4m with new citizens taking up almost 50% of the population. The number of new citizens will only go up with our addiction for more head counts.

What this means is that whatever the 2m original citizens inherited and owned of this island, they now own half, including half of the reserves. The new citizens are taking half of the original Singaporeans’ share of the country’s wealth, and half of the reserves too.

If the foreigners are allowed to keep pouring into the country, say they formed 80% of the population, it will mean that the original Singaporeans will be left with 20% share of the nation’s wealth. And this does not take into account the land and properties that were sold to the rich foreigners.

The bottom line is that Singaporeans will eventually own less of this island. Yes the foreigners will also be citizens and have the right to a share of the island. This is not unlike a family inheritance. All the children will have an equal share of the family wealth. Then the god sons and god daughters, the adopted children, the children of mistresses, all came and taking an equal share of the wealth. Would that be a desirable and acceptable outcome?

While there is still time, and the wealth and assets are still there, and since they will be distributed to new citizens eventually, with the main beneficiary being the eldest son profiting in the process, would it be better to divide the family wealth equally before it is gone?

When no one cares about ownership or inheritance, when the prodigal sons are selling everything they could sell for their own benefits, for their own good, the rest of the children better insist on a splitting up of the family inheritance fast.

If, hypothetically, the whole island can be sold off as a going concern, like a business, and every citizen gets an equal share of the sales proceed, with new citizens getting a pro rated smaller share, it could be a nice way out. Assuming each citizen can have a share of $3m, at 3m population, the going price is $9 trillion only. Make it $10 trillion with the extra $1 trillion to be share by the new citizens, with a formula for sharing based on their tenure as a citizen. This should make everyone happy. (The actual sales price can be worked out after a full valuation of what the islands and all the assets are worth. It may not take 50 man years to do that.) The final price could be double if there are competitive bids to buy this enterprise by the superpowers.

There are many advantages to such a proposition. Firstly, the country is looking more like a hotel anyway and citizenship or no citizenship is not going to mean anything any more. In fact citizenship is too burdensome, and full of responsibilities and unfairness. Secondly, Singaporeans are calling themselves international citizens and wanted to be international citizens anyway. Thirdly, the world is opening its arms to welcome rich migrants. With the windfall, a family of 4 could be richer by $12m, plus whatever they owned, and they can go anywhere and be welcomed as rich expats. Is that not what everybody wants, money and a good life, instant gratification? Or they can still choose to stay put, as residents here, without being a citizen and with no NS obligation to irritate them. Nice right?

The new owner can run this enterprise whichever way they pleased. They can retain the services of all the civil servants and GLC employees, including the cabinet, to run it as before. Or they can change whoever they want. They can bring in all the talented foreigners, rich, skilled, or whatever, increase the population to any number, let the prices of properties ballooned, and there will be no citizens to feel aggrieved. It is a private enterprise, a hotel, a real business concern.
In the meantime, the rich Singaporeans, with loads of money in their bank accounts, can choose to go anywhere and live happily ever after with their shares of the inheritance.

How about it, a referendum to sell off the country, lock, stock and barrel, for money? No more emotional attachments and kpkb about foreigners, about govt, about prices, about politics, just become rich and happy, as citizens of the world. What option is there anyway? The country is being given away on a silver platter to all the new citizens and is trumpeted as the next good thing to happen. As sure as the sun will rise! It will be gone.

Of course this sounds fictional. But with the entrepreneurial spirit of Uniquely Singapore, could there be a possibility that it could happen?

23 comments:

Anonymous said...

Is the situation here, (in the coming years) as dire as one imagine? Surely, there is much to be hoped for a better, or at least a secured future for us all. As a senior citizen, when bombarded with all these possible consequences of a negative kind, it really send a chill donwn our spine and may perhaps adds greater pressure on our health. Actually take a stroll around Marina Bay area, immerse in the morning crowds at Raffles Place, or visit our nature reserves, have a cuppa or two of coffee at the kopitiam dotted all over our island, and other places, it can be quite refreshing and a moral lifting exercise.

tom lim said...

Redbean, I second your motion.

Chua Chin Leng aka redbean said...

The bulk of the working population will be constantly told to tighten their belts, don't touch their CPF savings as the savings are just not enough for old age and hospital bills.

It will be a lifetime of not enough and worrying when the CPF will be emptied when a hospital bill comes.

Why not sell out and live a life of plenty and abundance, with dignity, and welcome by everyone? Why be contented with a cup of kopi in the public housing estate kopitiam when one could really live in the laps of luxury?


Why should the luxury be only for a small exclusive few? Why should one take it with mouth open wide wide when some rich jokers proclaimed that it is just natural that some should be earning millions, even on pension, when many are struggling and trying to be content weith a cup of kopi O, not in Starbucks cafeteria?

Kamarrudin Koh said...

Dear Red Bean,

I agree with you. Stability and harmony are words that the elite use to keep themselves rich and happy at the cost of working class

Anonymous said...

Its a fair proposal to both native and new citizens.

Will kee both chiu to support you !!

Hsq.

Chua Chin Leng aka redbean said...

Who are the people really enjoying the prosperity of country? The elite and some foreigners whom they regard as talents and trustworthy enough to help to place the chips on the roulette table. They reward themselves with all the winnings. If they lose, they reward themselves with all the high pays. Who are the real losers?

There are many ways to return the wealth to the people. We can have the biggest IPO of all time by selling the island. Or we can have progressive smaller IPOs with Singaporeans being given free shares, starting with GIC and Temasek and then all the GLCs. And we market them across the world and not trying to make Singaporeans paying for them like Singtel. The elite selling to the daft Singaporeans!

The world is getting borderless, with people, assets and money moving freely to wherever there is value. Singapore can become a truly borderless state, an innovation of the future of stateless nations. This is not something that is completely new. We are the citizens of the world.

Anonymous said...

First of all, there is no intention to have the "original" Singaporeans till then. Only the "original" Singaporeans are the elite family, who control the country who would invites foreigners to come to work, apply for PR and become their "slaves " and replaced with modern "slaves".

Do our elite families cares who happens to the "original" Singaporeans.

Get Real!.

Anonymous said...

Well, the grand idea (I picked up these top secret papers when they were left behind in a Starbucks) is that these new citizens will eventually have 10-12 children each to boost our TFR back up to 2.1. These children will all have to do NS and then they become 'old citizens'. These people are presumed to be eternally grateful to those who gave them a chance to have a good life here. All the old citizens all are descendants from Fukin... Fukien peasant stock anyway.

Anonymous said...

Nice idea.
I support.

But realistically, why would the elite want to share the riches of Singapore with the Singapore poor?

What is your bargaining chip to persuade the elites to share?

The only bargaining chip we have comes along once every 5 years.
60% are too daft to vote wisely.
The rest spoil their votes.

Sigh! Another 5 years repenting until GE 2016.

Chua Chin Leng aka redbean said...

Well, the elite can do a management buy out and they can own this place as their personal fiefdom. Even a sell out will make them filthy rich with the number of high value properties each of them is owning.

The daft Sinkies, with all the responsibilities and obligations as citizens would one day say enough is enough. Why live a life of never making ends meet, living off one pay check after another, till the last breathe, and defending a country and all its wealth that will never benefit them?

Are they being cheated in the game of prosperity? Or the game they are playing is actually a game of poverty while others are playing monopoly and getting richer at their expense?

Anonymous said...

Redbean;

Do You (still)feel that native singaporean should do NS ?

Chua Chin Leng aka redbean said...

Hi Kamarrudin Koh, a belated welcome to the blog.

Just look at the American capital. All the rules and regulations to rein in the financial crooks were not able to pass through congress and the crooks are allowed to keep robbing their clients, their organisations and the general public.

The UBS theft is just another that happened to surface. The robbing is going on 24/7. Who cares when they are also in the take?

The new normal is to take as much as possible while the going is good. No conscience, no morals, no guilt. That's exactly what the CEO of UBS is saying. So what if I am the CEO, there is no need for me to resign.

Chua Chin Leng aka redbean said...

My country is slipping away and will eventually be owned by new citizens. That is why it will be a better option to sell it off quickly and forget about NS.

Anonymous said...

I support the idea of selling out our share of Singapore to the elites.

I just don't think the elites will do a buy-out though. Why pay us to leave (retrenchment benefits)if they can force us to leave (resign)without paying us a single cent.

With high property prices, high medical costs, minimal social services, enforced cheap labour (e.g. national service), capping our salary with cheap foreign talent, high cost of living etc., they can easily force us out of Singapore without paying us a single cent.

Wait a minute. It's already been happening for the last 10 years.

Anonymous said...

Did you read about a Mr. Liu who did what he did after a job interview? He was angry and vent his anger by doing what most people would consider as dumb stupid. But what drive to that extreme may be some FT got the job instead of him. Looks like we Singaporean are ready desperate nowadays.

Chua Chin Leng aka redbean said...

Singaporeans have lost that thing called 'WE'. There is not more we, no more us and them. The old days, even the gangsters also know the meaning of 'WE'. When someone in the kampong or neighbourhood got beaten up by strangers, the gangs will take it upon themselves to beat but the intruder, to protect the 'WE'.

Today, foreigners are going about beating up Singaporeans like this is their turf, their country. Singaporeans are such irritants that have no place here.

My call to sell off this island is timely when citizenship is valueless, when foreigners mean more than citizens.

Anonymous said...

Not only our money but also our lives are in control one way or another by this government in the name of looking after our interest and that of our family. All that is done for the sake of this nation called Singapore. I wonder if it is worth being patriotic to think we should ask not what the nation can do for us and not we can do for this nation.

Anonymous said...

Who shall come first, nation or people? For the good of nation of for the good of people?

Anonymous said...

May be for the good of the nation I guess the government will find a certain group/category of Singaporean is expandable.

Anonymous said...

Temasek Review Emeritus mysteriously disappeared.
When My Singapore News has no new article for a stretch, it will be time to read and listen to the main media for its' blogger's whereabout. They are enhancing Cyberspace security measures.

Anonymous said...

Yes, ISA is not friendly to ideological and political dissenters!
It can and will be used against any vocal citizens.
Maybe it is time for Home Security to start tea sessions with netizens to find out what's wrong with our rulers. It needs to find out why the Net is filled full with so much dissenting views(ideological/political) from citizens.

patriot

Anonymous said...

Looks like the SGEP blog also come into a stand still. All of sudden it is so very quiet. I wonder why.

Anonymous said...

Why are there so many tragic cases of a mother killing herself together with children in Singapore? And we are talking about Singapore the country that many people wants to stay here.