NDP - Yesterday once more

I went to shoot the NDP rehearsal this evening and here are some of the pics for your viewing pleasure. Top pic are members of the SADC and Naval Command, not sure what they called the Navy then. The respective insignias were an eagle and a marlin. Next pic is the Dad's Army, our early pioneers in the PDF. And the police wore shorts then. The next pic are members of our Fire Brigade. The rest need no further introduction, the POSB, Nurses and the SIA girls, what a great way to fly.

AIIB’s top 10 shareholders

The top 10 countries funding the AIIB is a very interesting mix of geography and wealth and politics. 

1.     China $29.78b

2.     India $8.37b

3.     Russia $6.54b

4.     Germany $4.48b

5.     South Korea $3.74b

6.     Australia $3.69b

7.     France $3.38b

8.     Indonesia $3.36b

9.     Brazil $3.18b

10.  Britain $3.05b

The BRICS countries are quite well represented except for South Africa, four are in the top 10 with 3 right at the top. Of the 10, 5 are Asian countries if Russia is included as it straddles across Asia with most of its land mass in Asia.  The top 3 European countries are also represented by Germany, France and Britain.

Politically, the pro American camp is represented by 5 countries in Germany, South Korea, Australia, France and Britain. India could be included in this camp but it often wants to project as a non aligned independent power of its own right.

It is interesting to note that Indonesia is among the top 10 shareholders, a sign of an upcoming Asian economic power, to have the billions to spare. This third most populous Asian country that was badly hit by the Asian financial crisis seems to have recovered quite well under the watch of Yudhoyono and is likely to continue to grow under another pro business and growth President Jokowi.

With the West well represented among the top investors, the crying wolf by the Americans and Japanese of transparency and accountability problem is going to be just that, two boys crying wolf. It is also a good thing that these two rascal are kept out of the bank and not allow to throw in the spanner in every decision making process. Looks like AIIB is going to have a good start with the right mix of shareholders in charge.

Not to forget there is another big development bank in the BRICS New Development Bank with another $100b to boot like the AIIB. These two new multinational banks would be the new pillars of the New World Order to give the American and Japanese controlled World Bank, IMF and ADB a run for their money.

Concept of country, defence and conquest

The British came, took over the island as theirs, set up the administration and gave all the good jobs t their people. The locals were allowed to do their own businesses but the administration and control of the country were in the hands of the British. They had taken over. And to protect themselves and their interests, they sent in their soldiers, army, navy and air force were all here.

The locals might be employed to work for the British as cooks, clerks, peons and drivers. The women could work as maids, the amahs. That was how things were when the country was taken over by foreigners. They enjoyed the plum jobs.

The Japanese too wanted the island for themselves. They sent in their soldiers. The British tried to defend their interests with their soldiers but lost and the Japanese took over everything. The Japanese were the new owners and ran the country for their Emperor and people just like the British did. All the good jobs in the govt and businesses were in the hands of the Japanese. And there was a new order of things. They owned the country and people.

The locals continued to find their own ways to make a living if they could. The good jobs went to the Japanese. The locals could become clerks, translators, drivers and peons. The women could work for the Japanese as maids and comfort women.

After the war, the locals got wiser. Why let the Japanese or British run the country and took all the good jobs for themselves? They fought to take back the country so that they could give a better life to the locals, give good jobs to the locals, to control the country and their own destiny, be in charge and distribute opportunities and wealth among the locals.

A country was born, called Singapore for Singaporeans. A military force was formed, with conscription for NS to protect and defend the country and its people from foreigners, to protect our way of life, our good life and good jobs for our people called Singaporeans.

Fast forward 50 years, more than half of the residents are in the country are foreigners. Many have very good jobs, some being paid millions. Many Singaporeans lost their jobs for a simple reason, publicized and acknowledged, they are not good enough and their jobs should rightly go to the more talented and deserving foreigners, regardless of nationalities. The Singaporeans only got themselves to blame when they allowed the policy of hiring foreigners and giving foreigners good jobs, and telling the Singaporeans you are not good enough so it is your business. The locals must compete with the foreigners on a level playing field. So what if this is their country? So what if they are the citizens and the foreigners are foreigners? So what if they served their dues as conscripts to defend the country, our way of life and the good jobs for the people?  The last point many people have chosen to forget and ignore.

And the foreigners are here, inside the country, enjoying the good life, good jobs, and protected by the conscription armed forces. The foreigners need not be like the British or Japanese, to build a defence force and pay for it to protect their good life and good jobs. The conscripted soldiers will do the protection so that they can live here, have a good life, and good jobs. Dunno to call this outrageous or idiocy? Why would the daft Sinkies allow this to happen and think this is a natural order of things?

The foreigners have no need for an invading army like the British and the Japanese to conquer the country to enjoy the good life here, to enjoy the good jobs here, and some even in positions of authority and power.  They are invited here for the good life and the good jobs. What about the locals losing their good jobs and their good life to the foreigners? Who cares?

Whose country is this? This country belongs to everyone here, including the foreigners?  We will celebrate this change of ownership or the privilege of enjoying good life and good jobs in Celebration SG50.  Come one and come all to party, citizens or no citizens, sama sama.  Is there a need to redefine the meanings of conquest and control of a country? Is there a need for an army if the country can be occupied by foreigners to enjoy the good life and good jobs while the citizens have to make way for the foreigners? Can a country be taken over by foreigners without a war?  What if 70% or 80% of the populations are foreigners or new citizens? Does it make any difference? When would we call a country being occupied, taken over by foreigners, foreigners enjoying good jobs and blatantly cheating and discriminating the locals like apartheid, a country lost?

What is happening? What do you think? Is this your country?

PS. The British and Japanese seized our country, good jobs and good life for themselves by force. Now the foreigners are invited in to do that and to cheat and kick us around under the myth that they are more talents and here to help us.

Najib versus the indestructible Mahathir

Najib is on the defensive and looking very lame. No one could resist an attack by Mahathir. Many had fallen, including Prime Ministers and every one of his heir designate deputy PMs. Could Najib be an exception and survive this final onslaught of Mahthir? At his growing age, this could be Mahathir’s last battle before calling it a day and could be his biggest battle to date. Winning this battle is looking like a cake walk. Losing it, if it ever happens, could bring an end to the Malaysian legend.

What is left in the armoury of Najib to take on Mahathir? Najib could count himself lucky that his cabinet is still with him except for a handful waiting to see his downfall. But this situation cannot last for long if he can’t pull out a jack rabbit from his hat and turn the tide. When cornered and no way out, the only thing to do is to strike back hard and die together, forcing the attacker to retreat.

I thought Rosmah could be Najib’s trumph card. The most powerful and influential woman Malaysian ever had. She is so quiet. This is very unusual knowing her reputation. What is she thinking or planning to save her husband and beat Mahathir at his own game? Mahathir has always been the aggressor, the attacker. He has never been on the defensive, being attack and on the defensive. He is looking like a flawless politician that his enemies could not find any traces of flaws to wave in public.

What is Rosmah doing about it? For sure she is not going to take things lying down. That is not Rosmah. Mahathir, watch it. This could be more than you can chew.

There is another card that Najib could possibly use. This is presently under lock and key. Would Najib unlock it and throw it at Mahathir? Yes, this card is behind bars, the Anwar factor. Anwar was heard to have many boxes of documents to prove against Mahathir when he was on the receiving end. He did not have the chance to use them when Mahathir prematurely quitted his post as PM. If these boxes of documents are there and hold interesting and damaging information against Mahathir, they are something that Najib may want to lay his hands on.

Are these boxes of documents real and still there? If not, then Anwar would be a spent force and best left forgotten. Would Najib make a deal with Anwar and join forces to take on their arch foe? Is Anwar dead and gone or would this be his last chance to get back to the centre of Malaysian politics? Would he be able to do what he wanted to do against Mahathir and now with the support of a standing PM in Najib, the job could be much easier.

Malaysian politics are full of intrigues and plots and counter plots. How would this final battle of Mahathir against another PM turn out? Great drama and Hollywood material.

China intervention in market rout

China was forced to intervene in the stock markets following the recent sell down, wiping trillions of dollars from stocks and with many late entries suffering painful losses. The first day of intervention was quickly reversed and the rout appeared to continue to run to the abyss. China went in with more restrictive measures yesterday and for the moment has temporarily halted the fall and turned around with the biggest one day gain of 5.8% in the Shanghai stock market.

The measures introduced include halting trading of 50% of the stocks and forbidding big shareholders to sell their shares. Investigations are going on to look at malicious trading that contributed to the plunge in the market. Though the measures avoided a free fall and more losses, some market analysts as usual have started to express concerns about state intervention and not allowing market forces to do the damage.

What are these market forces? There will be the natural herd instinct, the panic buying and selling of investors at any sign or news that would affect stock prices. What is more dangerous is the collusion of big players, big funds, working in tandem to drive prices up and down at their callings. These are not the innocent market forces. These are big market manipulators. They operate as a wolf pack and reap great profits from the innocent small investors.

All the western modelled stock exchanges that allowed big funds to trade in them are faced with this risk of wanton manipulations. How can this be classified as market forces? These are not your normal investors but bandits that used their muscles to muscle in and out of a market like a bull in a China shop.

The only way to counter and prevent these big players from destroying a market and the wealth of small investors is to have a counter force in the form of govt intervention. It is only fair. Only silly govts and stock exchanges would think that govt intervention against these big forces is unacceptable and contrary to the operation of market forces. How can such big players and their irresponsible modus operandi to reap huge profits at the perils of small investors be allowed to run freely and unrestrained and be regarded as fair play, as market forces?

All govts and stock exchanges must have an instrument and even war chest to counter the destructive nature of the big players. Otherwise they are just being irresponsible and unfair to the small investors, like giving a licence to the big players to go for the kill, with their approval.

The Chinese intervention in the stock market is the right thing to do to prevent a very unfair and unlevel playing field. But what is important is also for the regulators and govt to manage a bubble and not allow a market to go wild. When a huge bubble is formed recklessly, the result will be a rout when the bubble is pricked. The Chinese govt must not let irrational exuberance to repeat again and for the present, how to unwind and deflate this bubble without causing too much damages. It was stupid to allow the market to run amok in the last few months and think that it was normal.

The volatility in the Shanghai stock market is not over yet and would take quite some time for the market to stabilize at a lower level.