12/10/2008
10% interest and principle protected
With the minibond fiasco, the people are so frighten of financial products and institutions that they are all keeping their money under their beds. But that cannot do as inflation is eating away their money and they are all hoping for a product where they can grow their money and with their principle protected. The CPF is encouraging people to put in more money into the special account to earn higher interest rate of 4% and principle guaranteed.
I am starting a Redbean Bond with principle guaranteed and paying 10% interest per annum. Your savings will definitely grow over the years and you will get a monthly report on how much you have. No headache and no fear. By the time you reach 80 or 100 years, your saving will balloon into a mountain of gold.
Oh, one condition, the Redbean Bond is to grow your money, but you cannot take it out.
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11 comments:
You'd be surprised at the number of people who thinks that CPF is good - it preserves principle and is underwritten by the government. It's not as if our money is in the banks anyway.
Redbean, can I invest in your bond? Can you please make sure that it is exactly like the lehman minibond. I hear that that was a good product approved by MAS, so it must be safe and secure. I want, I want, I want......
Please lah, let me invest....
cpf is good. that's why so many people are putting their money there voluntarily.
my redbean bond is better than lehman bond. the money will just grow at 10% compound but will be kept there forever. you will have the benefit of a monthly report to show you how rich you have become. but cannot touch or use. see only.
every month i receive the redbean statement makes me happy! small price to pay for great happiness
i dun mind investing in red or green bonds provided the terms and conditions does not change every so often without my approval.
In a totally controlled country, where the economy is a command economy, charging interest will be unnecessary and if The Authorities have the wisdom, they will prohibit any form of interest or profit and make it punishable by long imprisonment terms for casual offenders and impose the death penalty for repeat offenders.
By removing all money and all mediums of exchange, people will not have to worry about the market because The Illustrious State will provide all the needs for society.
The NRIC can be used as a card for transactions when people acquire goods from the govt. The NRIC already contains identity information. The role of the NRIC could be expanded to say, match the health data of the citizen to his identity, which is assigned a unique code.
The govt is the sole provider of food and also healthcare — and all this info is collected in databases which can be accessed by any state official who simply punches in the code of a particular citizen, or if the NRIC is scanned by officers of the state.
The govt can then monitor the health of the individual, and therefore alot the specific dietary needs accordingly.
For example: Fat people will be barred form acquiring any food which contributes to their condition. Diabetics will be prohibited from buying anything with sugar. Their state-enforced health checks will inform the authorities if these people have been "cheating" — e.g. they are getting their prohibited foods from someone else, and therefore can be "interviewed" by the police and charged for cheating the state if necessary.
Anyway back to interest from investments: investments taken on by citizens are risky. The only agency which is allowed to invest will should be the Government Investment Corporation, run by experts.
hi anonymous,
i guarantee you that the rules will not change and very simple. rule 1, interest at 10% pa. rule 2, no withdrawal. rule 3, irreversible. rule 4, you get a statement every month. : )
matilah, you are reading the communist manifesto again. anyway, the communists promise a great utopia.
>anyway, the communists promise a >great utopia.
But, as usual, always fail to deliver.
Francis Chua, Singapore
redbean,
The communists didn't go all the way, because they were too chicken. Marx was a pussy... actually maybe I'm being a bit harsh.
I don't need to "read the communist manifesto again" because I am correcting Marx's mistakes...ok, maybe not mistakes. We have technology now that Marx didn't have when he wrote his magnum opus.
All the govt has to do is to implement the technology to control the people and command the economy.
For e.g. :
1. It is now possible to get rid of currency-money altogether. We can use electronic ID (NRIC) as a basis for citizen control and monitoring.
2. All HDBs (and many private homes which are to be seized and turned into state property) have optic cable installed for broadband delivery. The state can install cameras (which are now very cheap) to monitor their citizens in their homes 24/7/365.
3. Using RFID technology, chips can be implanted into citizens or their clothes (provided by govt of course) and an RFID sensors/transponder grid constructed to cover the entire territory. The state can then monitor the whereabouts of every citizen. Of course there will be severe penalties for attempted hacking, tampering or removal of the RFID tags from the citizen or his clothing.
4. When gene sequencing technology is perfected by the govt bio tech labs, the state can plan how many citizens to have, and program traits like IQ and physique. So you'll need X-amount of labourers who need to follow orders, not think for themselves — you can manufacture X amount of brawny IQ 80 citizens. If you need to replace Y smarter people — to manage the state or run the sciences for the state, you can manufacture Y amounts. If you need Z amounts of military and police, you can design and manufacture according to plan.
By using genetic engineering the state can remove the reproductive function so that citizens can have sex, but they cannot reproduce. In this way there is no worry of a population explosion, or citizens choosing to have a family on their own terms. The state gets to decide everything.
I'll be starting a new blog soon called TOTAL GOVERNMENT CONTROL The template and name is already up.
I'll be covering psychological techniques too on how state officials can "persuade" reluctant citizens to unite, and effective methods of physical and mental punishment to be meted out to recalcitrant dissenters. I guarantee that my methods will be the best by far.
yes messiah.
Marx was too early for his time.
The time is now ripe.
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