CPF – The same logic is applicable both ways

There is this anonymous commentator in my blog that is very persistent with the govt’s version of ‘What if he spent all his savings after withdrawing everything from CPF?’ To this commentator, this is good enough reason for the govt to justify keeping all the retirees’, all not one or two that would squander their money away, money in the CPF and to decide how much and when to let them have some of the money to spend. By posing that question the govt is passing the buck to the people. You are now responsible for coming out with an answer if not it means the govt’s solution is the best, the govt has the right to keep your money.

This kind of ‘yeh mun’ (pronounce in Mandarin) logic is only sound as long as the person using it is in power. And it is a very dangerous logic as it can be apply to all kinds of flimsy situation to the disadvantage of the people. Why should not the same question be posed to the govt? Sure, and the govt will say that is why the govt has to keep the money for the people for their good.

Ok, don’t ask this question. Sure lose if the other side is ‘yeh mun’ type. The govt is so afraid that all the people will spend their life savings and ended up no money for retirement. If the govt can fear the people squandering their miney, can the people likewise fear the govt for squandering away all their money in the CPF? Is this a reasonable fear?

The govt is made up of people, ordinary people that the people elected to represent them in Parliament. If they are not elected, they will be just like you and me, as smart as you and me, or as stupid as you and me. And if we can squander our CPF money away, the same kind of people in the govt can equally do the same notwithstanding some of them may arrogate themselves to be immortals or super talents.

The people have many avenues to squander away their money. Sure, go to Batam, go drinking, go frolicking, go gambling. Does the govt have equal or more opportunities to squander the people’s savings away? I am not saying they will. But they make big decisions, they think big, they have big appetite, they like expensive toys, expensive mega projects, queer pet projects, like winning the World Cup or gold medals, hold big parties and celebrations, go overseas with all kinds of good reasons. And they invest very very big. A wrong decision, wrong timing, or being conned by snake oil sellers, can be very costly.

The people have all the reasons to fear the govt spending away their money too. That is why they are protesting at Hong Lim to want to know what is happening to their money. The people have all the rights to fear the govt as the govt is made up of ordinary men and women, not gods, not immortals, not infallible. They may want to pass the risk to so called foreign talents to manage the money. This is equally, if not more dangerous, as the people hired could turn out to be turkeys.

How much have the govt lost during the Lehman bonds and toxic notes crisis and the global financial crisis? Sure no small peanuts, but more like golden peanuts.

The question is, who should fear who, the govt fearing the people squandering their money or the people fearing the govt squandering away their money? Can the people apply same logic and same solution on the govt, to control the purse of the govt and only allow them limited money to spend just in case?

What do you think? The boys and girls in charge of your CPF money are infallible?

Kopi Level - Green

CPF – A follow up on 23 August 4pm at Hong Lim Park

Han Hui Hui and Roy Ngerng and company will be at Hong Lim Park again this Sat, 4pm. This will be an interesting session after the impending changes announced by Hsien Loong last Sunday.
 
What would these champions of the people’s CPF money be saying on the new changes? Find out at Hong Lim.

Kopi Level - Green

Tharman: S’pore needs to groom local banking chiefs

‘Two months ago speaking at the 40th anniversary dinner of the Institute of Banking and Finance (IBF), DPM and Finance Minister Tharman Shanmugaratnam told the audience that the Government wants to groom Singaporeans for leadership positions in the financial industry.
 
He said that financial sector skills and leadership development are key priorities for the industry, as they will define Singapore’s continued success as a financial centre.
 
“We must ensure we are well prepared with the skills, depth of expertise and innovative capabilities to stay relevant and competitive. We have to continue to build globally competitive teams in Singapore, by proactively developing our Singaporean core while remaining open to foreign professionals with needed specialised experience and skill sets,” he said.
 
He emphasised the need to develop Singaporeans for positions of leadership in tomorrow’s financial world….
 
In a way, banks like DBS Bank is helping to ensure that it’s top leadership positions are manned by Singaporeans – by hiring foreigners and converting them to Singaporeans.’
 
I think Singapore has found the most efficient and effective formula to ensure that the banking sector will not fall into the hands of foreigners., Yes, follow DBS Bank’s example, hire foreigners and give them the pink IC and make them Singaporeans. Short and sweet and no need to waste money training Singaporeans. All the top bankers can be Singaporeans in double quick time. Just offer the foreigner CEOs citizenship.
 
In the same way, we can have the best politicians in our govt. Just go round the world and offer the best politicians Singapore citizenship and put them up as Prime Ministers and ministers. We would have the best politicians money can buy, instant tree politicians and bankers. We can do that to the universities also, to the civil service and GLCs.
 
This is the way forward to ensure a prosperous Singapore with a strong Singaporean core. Hsien Loong should have talked about it at his NDR to assure Singaporeans that this island will always take care of Singaporeans first and their future are in safe hands.
 
See, I am in agreement with govt thinking and policies.

Kopi Level - Green

An Australian racist bastard revealing himself on national TV

He is not an ordinary Australian but a billionaire, a law maker. He is Clive Palmer, someone whom the Chinese is buying iron ore from but having a dispute over money issues. This is what this racist bastard said as reported by AGENCIES and reposted in the Today paper, ‘Clive Palmer had described the Beijing govt as “bastards” who shoot their own people and accused it of wanting to take over Australia’s resources.’ Later, after public rebukes from the govt, he amended what he said, ‘My #qanda comments not intended to refer to Chinese people but to (a) Chinese company which is taking Australian resources and not paying’.
 
Can you believe what this bastard said, that the Chinese company could take away Australian resources today without paying? The Australians or then British, took the whole continent of Australia from the natives a couple of centuries ago without paying. Did he remember that? His iron ore mine was probably taken away from the natives in the same manner or paying a pittance.
 
My goodness, how ignorant this bastard is. But that was the international law imposed on the rest of the world by the European colonialists. They came, they saw, they conquered and they took. Remember that, Clive? And did they shoot the aborigines before? Can Clive Palmer answer that?

Kopi Level - Green

Violation of a very important principle – A very dangerous precedent

We don’t trust you with your money. We pronounce d that you are irresponsible and stupid and will squander your money away. So, the one in the corner, with ‘3 heads and 6 limbs’ declared confidently and proudly that he is going to keep your money for your good, to protect your money from you. And there are many such asses living among us. Without the façade of a title or authority, every one of them would be queuing for his plate of char kway teow or his cup of kopi O in the hawker centre like you and me. But today, they really believe that they have ‘3 heads and 6 limbs’ and are superior to other fellow beans. And they have the authority over your money, and if the same logic is accepted, they could even put you in a cell or into IMH.
 
How dangerous are these people? How dangerous has this island become when people really believe that they could do just that, by pronouncing someone as stupid and irresponsible and they can do anything with him, without even examining him or seeing him?
 
And how pathetic it is that a nation of people that claimed to be sophisticated and knowledgeable, could not see anything wrong with such a premise, such a silly thought, and allow it to be used against themselves and their fellow beans, without protesting?
 
There are people who are less able and even responsible. But they are in the minority, probably a small percentage of the population. But because of a few, the ‘3 heads and 6 limbs’ self arrogated gods, or fools, will think they can condemn everyone to be the same, millions of the people are now branded as irresponsible and idiotic when given the use of their own money. And these irresponsible and idiotic beans include themselves.
 
What is going on Sinkies? Are you going to accept such a judgement by some asses that every one of you is irresponsible and cannot manage your own money? The more dangerous part is that this logic can also be used to put you into IMH if not dispelled and rejected.
 
Be warned, we are on very dangerous ground. Would the Sinkies wake up? No, this is not a reflection of a maturing society. It is a degeneration of a people into idiocy. Unbelieveable!

Kopi Level - Green