I hate Matilah Singapura

I think he is still reading this blog. Whenever I claimed that the money in my CPF was my money he would pour cold water on my head and pointedly told me that it was govt tax. He would add that it was money down the drain.

I refused to believe him. But as everyday passes, it is proving him more right than my fat hope that I will get to see all my savings back. They are scheming with more schemes to make sure that our CPF will last for as long as we live. Now how long would that be? And if that is long long long, then those jokers that surrender their ICs before 60s or anytime earlier will see a lot of money left behind.

I still want to think that I am right, that I will have all my money back at my own time and use it to do what I want. Maybe got to wait till 2016. Definitely I would not want to wait to spend my money when I am 120 years old. Maybe that is what many Singaporeans want and will keep the system going forever.

It is my money, our money. Matilah must be proven wrong. And only through our votes can this be changed, with a new govt to overturn things that we are not happy with, especially our CPF savings.


Anonymous said...

'Banyak rindu pada orang yang di benchi, benchi tapi rindu!(Thinking much about the one one hates(for the guts!).

Others are missing him too, he is old but still attractive.

Cannot take your CPF, then use the CPF for whatever it can be used for; play share, top up for your kins and let them buy share, property or to educated themselves and their children. Let your CPF benefits your own family, why let others hold them as theirs'?

Read the Caption 'SINGAPORE CITIZENS HAD ONE OF THE HIGHEST EMPLOYMENT RATES INTERNATIONALLY, SURPASSING JAPAN, SOUTH KOREAN, THE UNITED STATES AND THE OECD'. in the SHIT TIMES? See, they got the cheek to make such claim knowing fucking well that Singaporeans have to work till they drop just to have their stomachs filled or half filled. And did they ever put caption as big for the high rate of suicide in Sin??? Many suicide cases do not even get reported. Bloody Sinful people we have in Sin!

For those who can leave Sin, better prepare to do it. Of course this does not include those Singaporeans; about 60% of them, who are doing fine in Sin.


Anonymous said...

Even have 1 billion in your CPF if cannot take out is as good as don't have. So what if you can live till 9, 120 or 150 years old when you have to collect plates at hawker centre, wash toilet and sell tissue paper?
Can the opposition voice do something about this in the parliament and stop this CPF nonsense.

Anonymous said...

How many Manpower Ministers does it take to change a light bulb?

One. But the light bulb must be at least 55 years old before change is allowed.

Anonymous said...

Rex comments as follows,

Anonymous said "Even have 1 billion in your CPF if cannot take out is as good as don't have."

I hope everyone knows that anything above $131,000 in the CPF CAN BE TAKEN OUT. If you have a billion in your CPF, you can actually take out $999,869,000. That is enough surely.

I think the CPF scheme should have been a Pooling Scheme, such that the savings of the rich is pooled with the common folk so that every singaproe born citizen gets pension for life.

Also, it is simply not fair that Ministers get pension and every else go on the CPF scheme which is not a pension scheme at all! Everyone should be treated fairly and with dignity after they reach old age, not just Ministers.


Jonathan said...

Matilah Singapura is correct in saying that you do not have your money. Whenever you making a deposit in a bank or make a contribution to the CPF, you are literally giving up ownership of your money. In exchange, the bank or CPF will add some numbers in your account, indicating their promise to pay back the same value of money next time. So in essence, you only possess a promise, but not the money.

The banks can then use the money they have to create more money by making loans. This is called "fractional reserve banking". The exact process is still out of my grasp. But what I know in the end is that whenever you save your money in banks or CPF, you are doing a favour for the bankers and investors. Ultimately, even if you can get back your full amount of money from them, the purchasing power of money has been eroded due to new money creation.

Anonymous said...

Talking about a billion in CPF must be a joke.

First, there is a limit for contribution and unless you work forever, very few will ever accumulate a million in CPF, not to speak of a billion.

And out of whatever is accumulated in CPF during one's working life, after taking care of housing, be it private or public, all the money that is left in CPF is just enough to take care of the minimum sum and medisave with perhaps a little left to withdraw at 55. This is the scenario going further down the road.

And do not forget that the cost of housing and the ceiling for minimum sum and medisave keeps going up, forever and ever.

There is really not much we can do about the system that is created to ensure most Singaporeans keep toiling until they drop.

But since many tell the Government that they love to work for as long as they are allowed, truthfully or not, I rest my case anyway.

Anonymous said...

To Jonathan, you can probably grasp it better after going through these:

Money as Debt (2006)

Money as Debt II - Promised Unleashed (2009)


Chua Chin Leng aka redbean said...

The banks will behave just like any banks. But the banks cannot anyhow or suka suka tell its customers that they cannot withdraw their deposits. Neither can the banks force its customers to buy its products on a compulsory basis.

notanotherspinstory said...

My Malaysian PR colleague slipped up when he said CPF he was contributing was was "tax". He may be right after all.

Chua Chin Leng aka redbean said...

I understand the situation and what Matilah was saying. But Singaporeans must stand up to fight for their savings. No jokers must be allowed to take their money under any pretext.

To many people, the CPF savings are their blood/sweat money. Scheming to take away people's blood/sweat money will have karmic retribution. Don't not cheat the poor people.

Don't ever believe that anyone is above the law of karma.

Anonymous said...

Karma has no power NOW
and it will be too late
for many.
Even if they wait for
their CPF in heaven, they
will find that their CPF
have gone to others, kins
or someone else he/she
don't even know.
BUT, please do not die of
hate or anger, it does not
wake up the conscience in
heartless folk. They feel
depriving others of their
own money is within their
Don't ever hope to see them
in hell as well, they have
made hell for You and it is
best that we do not meet
them anymore ever after.


Matilah_Singapura said...

Hey redbean, your site is only one of the 100+ RSS feeds I subscribe to. I don't regularly read this blog anymore...simply no time. However my monthly google search for "matilah" revealed this article.

It is pointless getting emotional over facts of reality. However, because we are human, it is quite understandable why people do. And the more emotional people are, the easiernis becomes to 'manipulate' them.

CPF is never 'yours' right from the get-go. Payment of CPF is mandated BY LAW, thus from the very beginning you have NO CHOICE in deciding the fate of your property...in this case your money (including the money your boss has to pay CPF so he can legally employ you ) . Since you and your boss MUST PAY that money is in fact a tax -- pure and simple. Any regular payment to the state which relates to the value of something is a tax. You can substitute any word to make it sound nice, but the fact remains IT IS A TAX.

EG. 1 Regular payment for vehicle based on value or engine capacity = tax
2 Regular payment for real estate based on value or rental potential = tax
3 Regular payment on the value of purchased goods = tax
4 Regular payment on corporate profit = tax
5 Regular payment on value of income from employment = tax. Change name to CPF to make it sound nicer and tell people it is "forced savings" of "their money"... which are CLOSE TO BEING TOTAL LIES, but because it is the state doing this, it is perfectly legal and if you do not comply, you are in the wrong.

People get pissed off because of their EXPECTATION. However if you are stupid enough to believe a LIAR, should'nt you be the one SOLELY TO BLAME? Why should anyone give a damn about your lack of PERSONAL RESPONSIBILITY? Don't feel so bad. Instead of complaining, realise that all humans make mistakes and all humans get conned by other humans at sometime.

IMO the lack of maturity from many of The People in dealing with the CPF and the housing issues is fucking hilarious. Time for some Darwinism to wipe these pond scum from the national gene pool :-)

Too harsh for you? Deal with it. Meanwhile look at Europe -- in a short time LUCKY SINGAPOREANS (the ones who don't complain) will be in good positions to buy lots of nice European assets cheap. Still complaining?

Count yourselves lucky, you ungrateful pond scum. Other people in the world are really starving and there is social unrest. Even China is going to get hammered. Fucking hell, the going is good in Singapore DESPITE the CPF Big Lie and Expensive housing.

Count your blessings, spoilt brats!

Chua Chin Leng aka redbean said...

You gone to Mars or what?

This CPF thing will eventually bring down the govt for sure. They can't keep doing it and think they can get away with it.

Foreign banks are starting to retrench staff. The game for investment bankers is drying up. So is the stock market.

Matilah_Singapura said...

I see you haven't yet stopped talking nonsense, and still stubbornly refuse to grasp a universal political-social-cultural reality. Are you ready? Wait for it... I here it is again:
and thus all the policies which that government implements. Like it or lump it.

Yes the banking crisis is going to get more interesting, and and over the next year or two, much more. ENTERTAINING. I personally think am looking forward to frolicking in puddles when blood is flowing once more thru the streets of Europe :-), I am proud to be a profit-seeking, and bargain hunting Singapore. I'm gleefully watching the Italian Bond rates soar higher and higher. The very soon their bank lending rate will be so high business will stop, and home mortgages will default and widespread collapses of value will occur across the economic landscape. And they would still probably still default in paying their debt.

... And guess what? People will be blaming their government and DEMANDING the govt 'fix the problem '. Same ol' story lah... Each everyone forgets: the people get the government they deserve.

In any cuntry, ask yourself WHO is The Government? The government in every case --except during conquest by foreigners-- is made up of LOCAL people -- people with the same cultural values, identity, to social attributes who have been given permission by the others (the majority) to govern the nation.

Therefore if a cuntry fucks up, the government is only minutely responsible. The bulk of the blame is on The People because they let their cuntry go down the shitter.

The CPF con-job/Ponzi Tax won't bring down the government. Most people already wised up to the pyramid scam decades ago, which is why personal insurance is such big business.

Only stupid people trust CPF. The normal, and reasonably smart (and kiasu). Singaporean already taken steps to protect themselves, and and has no problem using the CPF 'rules' to pay off their 'public housing' asset-which-is-not-really-an-asset to be later sold for a sky high price when they get afflicted by 'upgrade fever'.

Another reason the government won't be leaving anytime soon is because the majority of Singaporean are WEALTHY. No wealthy country is ever stupid enough to depose their government, when the goin is good... and unless you are asleep, and the going is very good in Singapore.

So forget all this doom and gloom bullshit. Don't disparage or blow the wonderful opportunities in Singapore. Take an example from the many foreigners and the many more who are coming... They know how great the opportunities are. But the locals are whiney, complaining little batches who keep wailing and howling for government help like a baby screaming for his mah-mee's tetek.