One by one, slowly but steadily, countries are starting to negotiate to
trade with China using the Renminbi or Yuan and their national
currencies. The Indonesians have started the ball rolling and soon more
Asean states would do likewise. Why would they want to use the Greenback
that is losing its value rapidly with the Americans happily printing
them to consume more and getting more into debt?
The latest American crisis and the threat of a debt default is very real
and it is only a matter of time even if they could kick the can further
down the road. The British have also signed a new agreement to be the
centre of Yuan Pound swap in London. It is going to make London the
biggest financial centre to trade the Yuan.
With this move by London, knowing how strategic the Brits are in their
thinking, more European countries would not want to lose out. And this
also applies to New York. There is no stopping for Yuan to be used more
widely as an international currency. And the victim to this development
is none other than the Greenback.
Countries holding on to huge American Treasury bonds are sweating in
their pants with the Greenback shrinking in value like melting ice in
the summer heat. The Americans are not helping either. They could not as
they are deep in the shit and wanted to print more to reduce their
foreign debt.
An avalanche is waiting to happen with the Greenback turning into banana
currency very real. The confidence of the Greenback is being eroded
daily and all the holders must be planning on how to get out, how to get
rid of the Greenback at the earliest sign of trouble or opportunity to
do so.
The Americans have killed two Arab leaders that were trying to scuttle
the Greenback supremacy and a third one in Assad temporarily delayed.
They could not be culling the British PM or other European leaders for
wanting to cut down on the use of the Greenback.
Don’t worry, the Americans have worked it all out. It is time for
another pow wow at Bretton Woods. And the Greenback would have a few
zeros sliced off its back and buried for good at Arlington with the
American flag wrapped around it. So would the holders of American
Treasury bonds.
10/16/2013
The Socrates syndrome
Socrates a great philosopher of ancient Athens who died around 399BC was blamed for all the ills and failures of the City State in Athens and was sentenced to death by the state.
Socrates - ( ancient Greek philosopher ) Versus Athenian City State
Ngiam Tong Dow ( a pragmatic Head of Civil Service ) Versus Singapore City State
Result
_____
Socrates: Death by drinking hemlock , a poisonous drink
Ngiam Tong Dow : Recant
Verdict in History
______________
Socrates : An honourable man vindicated by History
Athenian City State went into decline after Socrates death
Ngiam Tong Dow : People in tune with his original version
Singapore is in the doldrums, unsure of its future
Socrates - ( ancient Greek philosopher ) Versus Athenian City State
Ngiam Tong Dow ( a pragmatic Head of Civil Service ) Versus Singapore City State
Result
_____
Socrates: Death by drinking hemlock , a poisonous drink
Ngiam Tong Dow : Recant
Verdict in History
______________
Socrates : An honourable man vindicated by History
Athenian City State went into decline after Socrates death
Ngiam Tong Dow : People in tune with his original version
Singapore is in the doldrums, unsure of its future
In praise of Singapore
Below is an extract of an article posted in Thoughts of a Cynical Investor blog.
Why more FT Indians here than local Indians?
In Economy, India on 15/10/2013 at 4:52 am
…’Assuming he is correct about the FT Indian population being bigger than the local Indian population, there is possibly a gd, sound economic reason for it:- Our local Indians are not the “right” kind of Indians S’pore needs?
He may not be aware that S’pore’s an offshore hub of India, along with Dubai and Mauritius.
The largest hub for Indian trade is probably Singapore. It is the centre for investment banking, which thrives offshore, owing to the tight regulation of India’s banks and debt markets. Reflecting this, the global exposure to India of Citigroup and Standard Chartered, the two foreign banks busiest in India, is 1.9 times the size of their regulated Indian bank subsidiaries.
Fund managers running money in India are often based in Singapore. India’s best financial newspaper, Mint, now has a Singapore edition. At least half of all rupee trading is offshore, says Ajay Shah of the National Institute of Public Finance and Policy in Delhi. Investors and firms do not like India’s fiddly rules and worry that the country may tighten capital controls if its currency falls too far, says one trader in Singapore…..
Indian e-commerce firms often get their data crunched in Singapore, using web-hosting and cloud-computing firms, such as Google and Amazon. Amitabh Misra, of Snapdeal, says bandwidth costs less, technology is better and you avoid India’s headaches—such as finding somewhere to work, coping with state-run telecoms firms and having to wait to import hardware.
Singapore is also a centre for legal services. International deals involving India often contain clauses which state that disputes be arbitrated outside India, with its clogged courts. Singapore, along with London and Paris, has become the preferred jurisdiction. “The level of comfort Indian companies get from Singapore is unmatched,” says Vivekananda N of the Singapore International Arbitration Centre.’
This is the kind of tribute paid to Singapore that is not often spoken. It would be good that our dumb asses take note of such praises and stop short selling the value of this city like a prostitute’s den. We have great and absolute value and the foreigners are not going to run away if we insist on implementing polices and laws that benefit our own people and country. Instead they will come crawling at our doors just to get in. Those cheapskate companies that think they could threaten our weak dumb asses to bow to their demands are best that they leave this island. There is a very long queue of foreign companies waiting to come in, with a horrendous long queue of foreign workers begging to be let in to find their pot of gold here.
Why more FT Indians here than local Indians?
In Economy, India on 15/10/2013 at 4:52 am
…’Assuming he is correct about the FT Indian population being bigger than the local Indian population, there is possibly a gd, sound economic reason for it:- Our local Indians are not the “right” kind of Indians S’pore needs?
He may not be aware that S’pore’s an offshore hub of India, along with Dubai and Mauritius.
The largest hub for Indian trade is probably Singapore. It is the centre for investment banking, which thrives offshore, owing to the tight regulation of India’s banks and debt markets. Reflecting this, the global exposure to India of Citigroup and Standard Chartered, the two foreign banks busiest in India, is 1.9 times the size of their regulated Indian bank subsidiaries.
Fund managers running money in India are often based in Singapore. India’s best financial newspaper, Mint, now has a Singapore edition. At least half of all rupee trading is offshore, says Ajay Shah of the National Institute of Public Finance and Policy in Delhi. Investors and firms do not like India’s fiddly rules and worry that the country may tighten capital controls if its currency falls too far, says one trader in Singapore…..
Indian e-commerce firms often get their data crunched in Singapore, using web-hosting and cloud-computing firms, such as Google and Amazon. Amitabh Misra, of Snapdeal, says bandwidth costs less, technology is better and you avoid India’s headaches—such as finding somewhere to work, coping with state-run telecoms firms and having to wait to import hardware.
Singapore is also a centre for legal services. International deals involving India often contain clauses which state that disputes be arbitrated outside India, with its clogged courts. Singapore, along with London and Paris, has become the preferred jurisdiction. “The level of comfort Indian companies get from Singapore is unmatched,” says Vivekananda N of the Singapore International Arbitration Centre.’
This is the kind of tribute paid to Singapore that is not often spoken. It would be good that our dumb asses take note of such praises and stop short selling the value of this city like a prostitute’s den. We have great and absolute value and the foreigners are not going to run away if we insist on implementing polices and laws that benefit our own people and country. Instead they will come crawling at our doors just to get in. Those cheapskate companies that think they could threaten our weak dumb asses to bow to their demands are best that they leave this island. There is a very long queue of foreign companies waiting to come in, with a horrendous long queue of foreign workers begging to be let in to find their pot of gold here.
The top does not know what the bottom is doing
Coming closely behind the La Fondue Restaurant advertisement for a Pinoy
chef and the management claimed ignorance of the advertisement, another
similar episode is happening in Compassvale Villa in Pasir Ris Punggol
GRC. This time the commonality is Pinoy again. A poster was put up for
Pinoys to join a RC Pinoy Sub Committee.
Teo Ser Luck said he did not know about it and told the RC to take it down when he came to know of it. Netizens have been complaining about the conflicting objectives of integrating foreigners by having an exclusive Pinoy Sub Committee. Some were just against foreigners in Residents Committee as they see that as using public funds for non citizens and wrong purpose.
Would it be funny if the Pinoy Sub Committee were to include similar messages as the advert for Pinoy chef? We are an all Pinoy Sub Committee in a Pinoy working environment. We are here to promote Pinoy culture to the Singaporeans to help them appreciate us and our contribution to the island.
It is so lucky, or unlucky, that Teo Ser Luck came to know about it and took down the poster. What do you think this episode is going to lead the blind and unthinking Singaporeans forward to?
Teo Ser Luck said he did not know about it and told the RC to take it down when he came to know of it. Netizens have been complaining about the conflicting objectives of integrating foreigners by having an exclusive Pinoy Sub Committee. Some were just against foreigners in Residents Committee as they see that as using public funds for non citizens and wrong purpose.
Would it be funny if the Pinoy Sub Committee were to include similar messages as the advert for Pinoy chef? We are an all Pinoy Sub Committee in a Pinoy working environment. We are here to promote Pinoy culture to the Singaporeans to help them appreciate us and our contribution to the island.
It is so lucky, or unlucky, that Teo Ser Luck came to know about it and took down the poster. What do you think this episode is going to lead the blind and unthinking Singaporeans forward to?
10/15/2013
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