Singapore will say thank you to Wee Cho Yaw

I read this comment in TRE on my post ‘The equity casino is going to draw its curtain soon’.

new world order:

The derivative market is worth a quadrillion dollars of bubble awaiting to burst.

When it burst, it will be the crash of all crashes.

Most of the banks will be affected, and depositor can expect their cash deposit to be used for bailing in the collapsing bank.

Therefore, you people should crash the bank before it crashes


The derivative game is like building a house of cards with nothing but air. It is pure shuffling of papers, printing papers as money. What it takes is for a few cards to be pulled out and the whole house of cards will simply collapse and nothing is left. The last American financial crisis did not teach them anything and the bubble is now even bigger, building the banking and financial industry with a fraudulent system is simply idiocy.  The next collapse will bring the banking and financial industry its knee.

The other lesson of too big to fail is still being followed here mindlessly like the Two Child Policy. No one had the guts and wisdom to turn it around when it was over taken by events and the changing economic needs in the island. There was the talk of Singapore could not have too many banks but one or two big banks. The lesson of too big to fail in the USA fell on deaf ears again. It was so fortunate that there was Wee Chow Yaw to resist the intent to cut down the number of local banks to one or two banks.

When the banking industry collapses due to the fictitious and fraudulent derivative trades, yes it is still bringing in big money but unsustainable, just like what is happening to the stock market. The stock market has collapsed if one is willing to see the truth. The denial that it is still healthy and kicking is irresponsible. When the derivative market crashes, all the banks now laughing at the easy profits will go bust, and so will their high net worth customers.

Then we will say thank you to Wee Cho Yaw. Because of him we still have 3 local banks and hopefully at least one or two will still be standing. Those banks still deep in derivative trades should quickly wind up their dabbling in this fraudulent instrument or at least cut down the exposure substantially to minimize the exposure should that day comes. All fraudulent schemes are like Ponzi Schemes, unsustainable and must collapse. It is a matter of when, not how. A scam is a scam.

Hopefully there will still be a UOB and a OCBC left. But they must not join the derivative band wagon and get intoxicated in the easy money. It is better to earn decent money from solid traditional banking than gambling. The banks and financial industry must not be turned into legalized casino with little or no regulations. At least the casinos are very well regulated and the risk minimized. Or at least no gambler is gullible enough to think otherwise punting in a casino. But a banking and finance industry, with deregulations and little regulations and allowing itself to turn into a casino without the strict regulations is creating a false sense of security. Everyone is pretending that it is not a casino in different forms.

The end game will come soon. There are two major risks. A highly risky banking and finance industry dabbling with derivatives and still drugged to think derivatives are the new designer’s drug for the well heeled or sophisticated clients. The other risk is too few local banks, only 3 and if 2 were to go, could even be 3, there will be nothing left.

But the experts would have everyone to believe all is fine.


Anonymous said...

The end game will come soon.

Yes, as soon as a Sinkie opposition party leader announce that his/her party will contest 100% seats (on par with PAP) next election and ready to replace the PAP as govt.

So is the end game coming anytime soon? What do you think?

Anonymous said...

Do you think Wee Cho Yaw read your blog? Or at least monitored by his kakias (his men)?

jjgg said...

Think RB is suggesting that only pawn shops will survive

Anonymous said...

Indeed a very very very fearful article!

Hairs aso can "stand"!

If not banks, then where to park 血汗钱 and 棺材本 ?


Anonymous said...

What do the collapse of banks got to do with the people?
No bank put the money in the pocket and pillow as was done for thousands of years.
What's the issue ?

Anonymous said...

Derivatives of what ......?

Anonymous said...

When derivatives of underwear are also traded in the market, then the end is not far away.

Anonymous said...

Or fish ball sticks?

Anonymous said...

Mai hum will be delighted if they trade derivatives of cockles?

Anonymous said...

But will Ching Ho buy it?

Anonymous said...

Sorry hor, Wee Cho Yaw doesn't give a fuck about Sinkies, only that his empire survives. He is the one to outwit DBS & PAP govt to buy over OUB in 2001. He also point middle-finger at PAP during 2004-2006 when govt told UOB to divest its non-banking corporations so that UOB won't be "too big to fail" and to reduce risk to UOB & Singapore. Till today Wee Cho Yaw still firmly control conglomerate empire of UOB, UOL, OUE, UIC, Haw Par. Now who is too big to fail?!?!

Anonymous said...


Safeguards in progress in Europe.....

Anonymous said...


The horrific unregulated derivatives market ......

Anonymous said...

Much worry abt nothing.
1 bank collapses, many banks
will be set up.
1 leader died, many will be
eager to take over.

Which country and it's people
kaput bcos the stock, property or
bank collapsed.

When Kennedy was killed, did
USA or the Americans kaput with
him ?

When Tokyo and US property markets
got into trouble, did Japanese and American become homeless ?
They are living far better than Stinkies.

Anonymous said...

“Seven Deadly Sins: Wealth without work, Pleasure without conscience, Science without humanity, Knowledge without character, Politics without principle, Commerce without morality, Worship without sacrifice.”

Anonymous said...

// The derivative game is like building a house of cards with nothing but air. //

In the words of Warren Buffett, it is the equivalent of nuclear and biological weapons combined and probably more .....

MAD implies military madness on an unimaginable scale ......

The detonation of the cascading network of derivatives WMDs could literally mean a financial holocaust even this zillion times pessimistic RB is NOT PESSIMISTIC ENOUGH?

Anonymous said...


1) "Much of Deutsche's problems can be traced to the investment banking business that Jain headed till he became the co-CEO."

2) "Jain's departure leaves only Ajit Jain, a cousin, and Ajay Banga as the top-ranked Indians at global finance firms."

Anonymous said...


" Jessica Silver-Greenberg and Susanne Craig at The New York Times have a fantastic account of how Vikram Pandit was forced out as Citi CEO by new chairman Michael O'Neill.

The report explains how Pandit was completely blindsided on October 15, when he walked into O'Neill's office, on the same day he reported strong earnings.

...Mr. Pandit, the chief executive of Citigroup, was told three news releases were ready. One stated that Mr. Pandit had resigned, effective immediately. Another that he would resign, effective at the end of the year. The third release stated Mr. Pandit had been fired without cause. The choice was his.

The abrupt encounter, described by three people briefed on the conversation, included a terse comment by the chairman, Michael E. O’Neill: “The board has lost confidence in you.”

Obviously, Pandit chose to resign right away."

Anonymous said...

The Group of 20 nations in 2009 mandated clearing for many swaps contracts in an attempt to reduce the damage that would be caused by a major financial institution defaulting on its payments....Financial institutions held OTC swaps with a notional value of $505 trillion at the end of 2014, according to a survey from the Bank for International Settlements.

How much is $505 trillion to go up in smoke?

Anonymous said...

Basically, derivatives are financial instruments whose value depends upon or is derived from the price of something else. A derivative has no underlying value of its own. It is essentially a side bet.

Today, the worldwide derivatives market is approximately 20 times the size of the entire global economy.Because derivatives are so unregulated, nobody knows for certain exactly what the total value of all the derivatives worldwide is, but low estimates put it around 600 trillion dollars and high estimates put it at around 1.5 quadrillion dollars.

Do you know how large one quadrillion is? 1,000,000,000,000,000. Counting at one dollar per second, it would take 32 million years to count to one quadrillion. If you want to attempt it, you might want to get started right now. To put that in perspective, the gross domestic product of the United States is only about 14 trillion dollars. In fact, the total market cap of all major global stock markets is only about 30 trillion dollars. So when you are talking about 1.5 quadrillion dollars, you are talking about an amount of money that is almost inconceivable.

Anonymous said...

Moreover, both the hedge-fund and the derivatives markets are almost totally unregulated, either by the U.S. government or by any other government worldwide.”

And SGX is boasting about how fast the derivative market is growing.
Do these turkeys know what they are doing?

Oh the Americans are doing it. So should be alright.
Yes the Americans started the toxic Lehman Bonds too.
Yes, the Americans started the Credit Default Swap.

The S said...

There is a certain guarantee amount so people must not exceed that else open another bank account.

Anonymous said...

Yes, we must thank Wee Cho Yaw.

True or not?
Because if you get sacked by Alien Manager, Wee Cho Yaw will still lend you money because you are a Singaporean.

Anonymous said...

U copied exactly from the article link pasted above. MSN would lose a lot of credibility unless people like u quote extracts from others in inverted commas or give reference.

Anonymous said...

U copy wholesale from article link pasted above! Why no inverted commas or give reference? Plagiarism is as much a fraud as those scams in some financial scandals......

Anonymous said...

You wrote the article?
If not who do you think you are to talk about plagiarism?

Anonymous said...

@ November 03, 2015 9:25 p.m.

This is a typical PAPig ad hominem attack to change the subject.
Curse your mother to suffer a stroke.
Curse your son to get castrated during National Service.
Curse your wife to get pregnant by an Alien Talent.

This is also an ad hominem attack back at you.

Anonymous said...

As usual RB preaches doom and gloom. Cheer up RB, please look on the bright side. You have the best government in SE Asia and whatever happens the PAP will look after you and your nearest and dearest. Please try not to spread unhappiness and fear. Whatever happens you will be well care for by the best government. PAP has never fail you and IMHO they will never fail. BE happy RB, don't be so negative. Cheers.

Anonymous said...

Be careful about cursing at people. It always bounces back. It is called karma. Better take back your curses.

Anonymous said...

@ AnonymousNovember 03, 2015 4:36 p.m.

// And SGX is boasting about how fast the derivative market is growing. //

It is probably not if but when this ( Ching Ho derivatives trading ) time bomb explodes.......

..... how much is DBS India involved in derivative trading?

Deutsche Bank's BOARD OF DIRECTORS "removed" their ah Neh CEO Anshu Jain in Jun 2015 and incidentally they are saddled with about 74 trillion of derivatives trade, equivalent to about 25 years of Germany GDP.