Money in someone's pocket is not your money

 This perennial wisdom is forever relevant in the past and today. It is more important today as the money involved is no small change. Russia just lost US$300b to the rogue state called USA. Iran, Iraq, Afghanistan and Venezuela also lost billions to the rogue Americans. As they said, cheated once is bad but still excusable. Cheated twice or more is extreme stupidity. Any country after seeing what is happening to so many countries being robbed by the Americans and still putting their money and trust in rogue America deserved to lose their money, deserved to be cheated and deserved to be laughed at, no need to feel sorry for them.

America is now the most unreliable and untrustworthy country in the world. It did not just cheat on foes but also friends and allies. Canada, Mexico and the European states are also experiencing the same treachery from the Americans. Japan and South Korea are a different category. They are American colonies and have no option to say no. Philippines volunteered to be cheated, to be controlled and to be a colony of the Americans. They are happy to be cheated and robbed by the Americans.

What about Singapore? Did Singapore put a lot of money in American banks? One thing for sure, Singapore bought and parked several billions in the USA in terms of fighter aircraft, the F35s. Superficially, Singapore needs to park the aircraft there because of lack of space...and security, and safety of the aircraft in case they got stolen by petty thieves?

Like money, when it is in some other people's pocket it is not yours until it returns to your pocket. The aircraft in the US, legally belongs to Singapore. But can Singapore use them when in need? Can Singapore even fly them back to touch and feel it is another matter. There is no guarantee that the aircraft would one day be in Singapore. There is no guarantee that the aircraft would be here to save Singapore when needed. The Americans have a thousand reasons to say no.

This applies to Singapore's foreign investments, in the billions and trillions. The Americans and big countries have no issue with them as they have the muscle to take them back. Did Singapore have the military muscle to do so when they are confiscated or seized by other countries, like setting up a bank, putting in billions, but what control and guarantee are there to take it back, to claim it back when needed? What then if the countries are unreliable, infamous for cheating using fabricated laws, changing laws just to cheat, and run by scoundrels?

National leaders are given the responsibility to take care of a nation's wellbeing, including its wealth and assets. They need to manage the wealth with exceptional care and prudence, not taking unnecessary risk like tikam tikam and hope for the best. Putting our national assets in risky investments and relying on hopes, familiarities, relationships and emotions, or luck is an irresponsible approach in fund management. Big money invested must be carefully thought out, with enough guarantees to be able to recover the capital invested. This is a huge responsibility bearing on the people entrusted with our national reserves and wealth.

Placing our wealth, money and assets into somebody's else pockets without a set of guarantees and control procedures commensurate with their values is responsible, exposing to unnecessary risks, unacceptable risks. Don't play masak masak with public funds, like OPMs. Lose or loss never mind, no bonus only, or at worse ask to resign. Don't have to say sorry, no crimes, blame it on bad judgement or bad luck.

What do you think?