7/11/2007
Golden Period or Golden Era
There is a big debate going on now. No they are not arguing whether it is a period or an era. It is about who owns the most gold. And gold is what people should be going after.
The prophecy of Matilah is coming true. The fiat money is shrinking so fast that once it took $1 million to buy a home, now it is going to take $2 million. Once it took $3 to buy a plate of noodle, not it is $4.50. Once it used to be $4 or $5 a trip on a taxi, now it is $8 or $10.
The safest thing to do now is to convert all the fiat money to gold. Soon we may be trading, buying or selling things with gold when the fiat currency turns into banana currency.
Good luck to your $200k or $1 mil savings in the CPF when you lay your hands onto it. Now you know why your savings will never be enough. Better to ask CPF Board to allow depositors the choice to convert their savings into gold.
Welcome to the golden period.
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22 comments:
Unless you have deep pockets, what is so golden?
For the rest of the 90% of us, I dont see anything golden except golden price increases after increases ... plus reassuring words like "dont worry" etc ...
If this is what Golden years are all about, I wud rather we do not embrace it. Whatever for??
Opposition shud ask these logic??
Golden Period simply means uneven distribution of wealth will be upon us. It will be a class division and widening of income/wealth gap.
The rich will become fabulously rich and the poor will remain church mouse poor in the Golden Era, no matter how they reassure you..... Like the big boys gain $1 million and you get an extra $100 barely enuff to hedge the price increases!
Does this benefit you at all or only the big boys and foreigners??
For 90% of Singaporeans, life is just a golden dream. Just like the "more good years" prophecy which the majority never had. Or the goal 2010 dream which can never be attained. Just follow the dream Singaporeans.
"Singapura Boleh"
there are the happy people, there are the not so happy people.
there are those who can boast about an uncaring elitist face, there are those who can only hide their face.
the rich will have their own parties. the downtrodden with have to sleep with their own self pity.
Er... please don't cannonise me into a "prophet". I like "profit" instead :)
The view that fiat currencies will collapse is not uniquely mine.
BTW, gold or precious metals maybe the "best" backing for currencies, however countries like S'pore back their currencies with a range of assets—including gold, which helps "objectify" the value of the currency and therefore its purchasing power. However this can never be "perfect" (the reason follows)
LKY has always claimed that one of the roles of the sg.gov is to "preserve the purchasing power" of the S'pore Dollar.
The reason asset backing can nver be a 'perfect" mechanism of objectifying the value of a currency is because the temptation to inflate is too great.
Also with a fractional reserve banking system (aka "legalised fraud") practiced by the collusion of the central bank (MAS) and the commercial banks (DBS, UOB, OCBC etc etc) to create "credit money" will ensure that most of the world's financial system is built on DEBT and INFLATION.
Thus, if you work hard and save, you will eventually grow old and tired, and poor.
Fiat currencies penalise those who practice the high moral standards of productivity and thrift.
There is a video on Google titled "The Money Masters". This documentary gives an interesting insight into the workings of the world's financial system based on fractional reserve banking. Very informative.
Thks for the tip, anon.
Will go hear what the Money Masters can educate.. :)
come on, they give concessions to the foreigners to take away our jobs, good for the country.. that is true... but ....
WHAT IS IN FOR YOU AND ME???????
what is so good for us? do you get to see the money that the country earned at our expenses?? No way, it is locked up..
meanwhile we compete and slough, for what???
I think we shud go back to the old days when everyone including the ministers earned pittances but live like dukes.
It is a fairer system which benefits ALL dun u think??
WHAT IS IN FOR YOU AND ME???????
"Ask not what the country can do for you but ask what you can do for the country"
YOu mean .. go back to become a fishing village again?
we could have been much better if we did not let properties, esp hdb prices to run away. now many have their cpf savings in hdb and nothing left.
we need to arrest the rising costs or our money value will just get lower and lower. it is like depreciating our money.
As we always showoff one mah - Sengkapoh BoLeH..
But Sengkapolians boleh? Buay la!
Sengkapolians siong liao!!
Hi Anony, July 12, 2007 4:28 PM
Many of us are just normal folks busy ekeing a living to pay our bills and taxes so the show-offs you referred to must be the other side of singaporeans like those earning million dollars salaries that has nothing to do with the majority and nothing in common as well except for having 2 legs and 2 hands connected to the body.
another thing in common. when they squat in the toilet and squeezing like hell. imagine the expression. all men are equal. : )
really ah, you mean you do that ah?
It just one slogan after another that's all.... remember the 1984 vision to achieve Swiss standard in 1999???? where are we now, did we achieve half of it?
Remember 2010 world cup, just another piece of bird talk.
And what about the more GOOD years??
U guys still believe in all these trash??
if you ask those who are shouting that singapore is a land of opportunities they will give you a resounding yes. even some who are fed with crumbs will too.
but the hardlanders will have a different answer.
but the hardlanders will have a different answer.
Seems like the end result of this economic run is going to be quite uneven.
In the developed countries at least they have something to distribute to their folks such as welfare benefits for those in serious dire straits, medical welfare etc... over here it is so harsh... as in "no one owes any body a living" ...
This overly pragmatic policies may not be the best solution in this situation, hence it shud be re-aligned to benefit as many as possible in order to close the ranks...
redbean,
for what it is worth, DESPITE a meddling authoritarian govt, s'pore is a land of opportunities.
If you can't get your fucking act together here, where do you think you can go to get your fucking act together.
Some of the heartlanders need to be SMASHED (several times) IN THE HEAD WITH A BALL-PEIN HAMMER until they wake up their motherfucking ideas lah.
In other parts of the world they'd be dying in the streets from lack of basic amenities, diseases and horrific injuries—their children would be prostitutes, and the luckier woman-folk maids in neighbouring countries.
DESPITE the meddling, grabbing govt, there are a lot of market-makers in the private sector who create wealth and opportunity in S'pore.
To ensure that this continues, the LEVEL and AMOUNT of govt must be forced to decrease over time, or else there'll be nothing "personal" left for individuals to freely own and enjoy. (i.e. socialism will prevail, and perhaps eventually communism)
But despite a few fucked up people and a cunt-public sector, S'pore can still rock—but that is up to no one else but YOU.
you got a fierce vocabulary sir!
matilah, how do you know i am not grabbing enough? i just got enough to be able to stick around. still can have my cheap wine and cheap golf.
but must keep on grabbing till the day i can lie on the beach of patpong and stop thinking but continue grabbing with my hands full : )
Aiyah redbean, everyone has only 24 hours in one day, and everyone will die at some time lah.
Only a fool will spend all his time "grabbing". Grabbing what, exactly—all the "material" stuff is means to an end, not the end in itself lah.
Attach yourself to material things at your peril. That is how wealthy people make themselves poor.
Good luck lah :)
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