Park88 1st Gear May 10, 2011 Share May 10, 2011 I am not sure if i am reading this correctly does that mean our entire reserved could have been finished i thought reserve are not meant to be touch this way can any finance or economic guy explain thanks SINGAPORE - During the 2009 financial crisis, the Government had to use, in some instances, potentially the entire quantum of Singapore's financial reserves to back the Singapore dollar. The strategy worked and Singapore was able to weather the financial storm, said Prime Minister Lee Hsien Loong yesterday. "We relied on them (the reserves) to give confidence and to back our guarantees and our support for the Singapore Dollar and the banking system - not just with a few billion dollars but tens of billions of dollars or, in some cases, potentially with all the reserves that we had, so that nobody would be tempted to give it a try and see whether we would run out of ammunition before they did," Mr Lee said in a speech at the 30th anniversary of the Government of Singapore Investment Corporation (GIC) yesterday. ↡ Advertisement Link to post Share on other sites More sharing options...
Moredhel 2nd Gear May 10, 2011 Share May 10, 2011 I guessed many here ...whether they tend to agree with me or disagree with me...is that... That many found in RC and grass roots in pappy wards ... tend be...of that certain type of ppl ... That of course they will defend and vote for pappy blindly... A very clear example would be estates which are NOT RULED BY ANY TOWN COUNCILS..have RCs or even have any existence of GRASS ROOTERS.. These ppl usually give the clearest indication ..when voting comes about...on... HOW THE RULERS HAVE PERFORMED or BEHAVED... Needless to say....what does the above sayabout those dogs that are found in RCs... Do I need to explain more? I'm also not happy about some RC members in my area, their attitude sucks and quite frankly, they think they are the little LHL and look down on other residents. During GE, wear PAP white and walk around the estate nearly want to 360/720 already. I'm not happy with their arrogance. But nevertheless, I recognise that the many workers and volunteers in the RC have organised many activites for the residents especially the older generation. I think the concern here is whether personal preference in party or company should dictate the quality of your work or your attitude to work. This is an issue of professionalism which if the many rumours are true, then the civil servants supposedly there to serve the people have a serious lack of professionalism. This can be seen by the methods in which the LUP is selected and preferred by their leaders, hence, the surbordinates have 'moral approval' to duplicate it. Link to post Share on other sites More sharing options...
Altivo 3rd Gear May 10, 2011 Share May 10, 2011 (edited) I am not sure if i am reading this correctly does that mean our entire reserved could have been finished i thought reserve are not meant to be touch this way can any finance or economic guy explain thanks SINGAPORE - During the 2009 financial crisis, the Government had to use, in some instances, potentially the entire quantum of Singapore's financial reserves to back the Singapore dollar. The strategy worked and Singapore was able to weather the financial storm, said Prime Minister Lee Hsien Loong yesterday. "We relied on them (the reserves) to give confidence and to back our guarantees and our support for the Singapore Dollar and the banking system - not just with a few billion dollars but tens of billions of dollars or, in some cases, potentially with all the reserves that we had, so that nobody would be tempted to give it a try and see whether we would run out of ammunition before they did," Mr Lee said in a speech at the 30th anniversary of the Government of Singapore Investment Corporation (GIC) yesterday. LHL is citing the worst case scenario whereby foreign companies pull out and every uncle/auntie goes to the bank to withdrawl their deposits. Bear in mind if the economy works on a leverage basis... Let me put to you a simple example... Say the country's economy is valued to be at 10 billion. In reality, there is not really 10 billion in cash circulating around. It's the value of 10 billion being created instead. Why? Assuming the citizens deposit around 3 billion in cash with the banks. The banks will use a fraction of it as loans to other companies or invest the money. Say loans account for 1 billion and investment account for another 1 billion The economy is now worth 5 billion (3+1+1). If these companies which took the loan generate returns+revenues of another 1 billion and the investment make a profit of 1 bio. The economy is not 7 billion (5+1+1)... the cycle than continues.... So you see, in a worst case scenario and everyone makes a decision to head to the bank to withdraw their savings or liquidify their investments, do you think the banks have enough cash to return to everyone? No... that's why LHL is saying that they were prepared to use the entire reserves to guarantee our savings and SGD. Of cos my illustration is overly simplistic but it gives an idea on how leverage works Edited May 10, 2011 by Altivo Link to post Share on other sites More sharing options...
Moredhel 2nd Gear May 10, 2011 Share May 10, 2011 I am not sure if i am reading this correctly does that mean our entire reserved could have been finished i thought reserve are not meant to be touch this way can any finance or economic guy explain thanks SINGAPORE - During the 2009 financial crisis, the Government had to use, in some instances, potentially the entire quantum of Singapore's financial reserves to back the Singapore dollar. The strategy worked and Singapore was able to weather the financial storm, said Prime Minister Lee Hsien Loong yesterday. "We relied on them (the reserves) to give confidence and to back our guarantees and our support for the Singapore Dollar and the banking system - not just with a few billion dollars but tens of billions of dollars or, in some cases, potentially with all the reserves that we had, so that nobody would be tempted to give it a try and see whether we would run out of ammunition before they did," Mr Lee said in a speech at the 30th anniversary of the Government of Singapore Investment Corporation (GIC) yesterday. No lah. It's used as an economic weapon pr as a deterrent to prevent external parties from frying up the economy here in anyway they want and leaving Singaporeans(or the SG governemnt) to clean the mess. The reserves used in this instance is like a SG government telling all foreign countries that SG welcome foreign talents who pass a strict series of tests and can contribute to the economy, but we do not welcome major influxes of semi-farked 'talents' who can't make it in their own countries. That is your country's own problem. And we have nothing but skilled and educated manpower. So thanks for your FT influx offer but no thanks. - And no foreign country would press the issue because they know how skilled the SG people are in a myraid of industries. I apologise for the misappropriate analogy but this is the first thing that came to mind, Link to post Share on other sites More sharing options...
Sk65 1st Gear May 10, 2011 Share May 10, 2011 ... nearly want to 360/720 already. quite funny description hahah long time never see this phrase,. used it more commonly during my sec sch/ jc days Link to post Share on other sites More sharing options...
Typhoonz 4th Gear May 10, 2011 Share May 10, 2011 Aljunied carried the burden to strengthen the voice for singaporeans. I'll b more than glad to donate some money every mth to Wp sinking fund. If 2.2m SG donate $1 a mth, I'm sure Aljunied will b fantastic. Out of the eligible 2.2M voters... Only about 2 million voters voted... Minus 60.1% from that and you'll only get about 800k... Link to post Share on other sites More sharing options...
Grindcore888 Clutched May 10, 2011 Author Share May 10, 2011 pic taken as of today yesterday (monday 9th) might be OFF-DAY but this is the situation today (tuesday 10th) as it is.. checkout TR for potong pasir upheaval...riot police 'broke up' riot.... http://www.temasekreview.com/2011/05/10/br...t-potong-pasir/ RC at void have vanished........Bedok North Road Block ...707 the 'punishment' has begun... these are for residents use....prepare for more upheaval..as promised by MM Link to post Share on other sites More sharing options...
Iisterry 3rd Gear May 10, 2011 Share May 10, 2011 So this is how it looked like. Can't he shift it to a more prominent position? I would have assumed that his has authority in that area. Link to post Share on other sites More sharing options...
Nikamura Neutral Newbie May 10, 2011 Share May 10, 2011 pic taken as of today yesterday (monday 9th) might be OFF-DAY but this is the situation today (tuesday 10th) as it is.. checkout TR for potong pasir upheaval...riot police 'broke up' riot.... http://www.temasekreview.com/2011/05/10/br...t-potong-pasir/ well.. i guess its only right to remove the signboard since the opposition gonna take over it.. but if they demolish the whole damm place then its too much?? guess our gahment wont tolerate illegal gatherings... got certain limits i guess.. as long as above "certain" number of ppl they will act on it riao!. Link to post Share on other sites More sharing options...
Iisterry 3rd Gear May 10, 2011 Share May 10, 2011 guess our gahment wont tolerate illegal gatherings... got certain limits i guess.. as long as above "certain" number of ppl they will act on it riao!. It isn't that simple. If the crowd was rowdy and violent, it would have been justified to disperse it. However if the crowd had been peacefully signing the petition, there is not valid moral grounds to bring in the riot police. We do not have a clear picture of the actual situation so it is best to control our opinion on this at the moment. Link to post Share on other sites More sharing options...
Blackyv Turbocharged May 10, 2011 Share May 10, 2011 well.. i guess its only right to remove the signboard since the opposition gonna take over it.. but if they demolish the whole damm place then its too much?? guess our gahment wont tolerate illegal gatherings... got certain limits i guess.. as long as above "certain" number of ppl they will act on it riao!. but when they see a huge bunch of balls carrier in white, they wont bother right?..... Link to post Share on other sites More sharing options...
Nikamura Neutral Newbie May 10, 2011 Share May 10, 2011 but when they see a huge bunch of balls carrier in white, they wont bother right?..... lol they term that as "peaceful celebrations" aiya.. they can play around with the law la.. unlawful assembly 5 or more people kenna riao Link to post Share on other sites More sharing options...
Felipe 3rd Gear May 10, 2011 Share May 10, 2011 (edited) no... they are more efficient...they simply pay the MP to jump ship... at least they're not ruthless on their ppl, which is what a politician should do (serve their ppl) Edited May 10, 2011 by Felipe Link to post Share on other sites More sharing options...
Nikamura Neutral Newbie May 10, 2011 Share May 10, 2011 It isn't that simple. If the crowd was rowdy and violent, it would have been justified to disperse it. However if the crowd had been peacefully signing the petition, there is not valid moral grounds to bring in the riot police. We do not have a clear picture of the actual situation so it is best to control our opinion on this at the moment. farny leh.. this is bREAKing news leh.. not even a single report on it.. HMMMM. Link to post Share on other sites More sharing options...
Darryn Turbocharged May 10, 2011 Share May 10, 2011 As far as RC goes - guys, just go and see. Join one meeting - you ARE able to find out when the monthly meetings are and take part. YOu start of as observer (for three meetings in my case) and then once confirmed everything is by discussion and vote. You are able to vote on how funds are spent and suggest what sorts of events you want to arrange. The one I serve on is in Punggol ward, and everything is very above board and transparent. Of course not everybody that serves is altruistic, but I challlenge you to find any "charity" group that is. It is very easy to sit here and throw bombs at them, but the easiest way to rectify is to get involved - and working with RC is a very small sacrifice - its not like running for election when must put up 16k deposit and all the rest. There are all sorts of interest groups, from cycling to kite flying to model aeroplanes arranged. A kite festival was arranged for the residents, as well as a mooncake festival for example. The mooncake one was great - got sponsors for the laterns which were able to be given to residents - then at about 9:30 around 200+ kids (and their parents) did the latern parade around the estate. For adults, ok not exciting, but for the kids they loved it! It was great. You should go take a look at the meridian rc facebook for some of the stuff they have done, and then come back and say that the RC doesn't try to do stuff for the community. Link to post Share on other sites More sharing options...
Wson 1st Gear May 10, 2011 Share May 10, 2011 As far as RC goes - guys, just go and see. Join one meeting - you ARE able to find out when the monthly meetings are and take part. YOu start of as observer (for three meetings in my case) and then once confirmed everything is by discussion and vote. You are able to vote on how funds are spent and suggest what sorts of events you want to arrange. The one I serve on is in Punggol ward, and everything is very above board and transparent. Of course not everybody that serves is altruistic, but I challlenge you to find any "charity" group that is. It is very easy to sit here and throw bombs at them, but the easiest way to rectify is to get involved - and working with RC is a very small sacrifice - its not like running for election when must put up 16k deposit and all the rest. There are all sorts of interest groups, from cycling to kite flying to model aeroplanes arranged. A kite festival was arranged for the residents, as well as a mooncake festival for example. The mooncake one was great - got sponsors for the laterns which were able to be given to residents - then at about 9:30 around 200+ kids (and their parents) did the latern parade around the estate. For adults, ok not exciting, but for the kids they loved it! It was great. You should go take a look at the meridian rc facebook for some of the stuff they have done, and then come back and say that the RC doesn't try to do stuff for the community. How does rc operate in opposition wards? work closely with wp and town council or bypass wp work only with pap? Link to post Share on other sites More sharing options...
Darryn Turbocharged May 10, 2011 Share May 10, 2011 How does rc operate in opposition wards? work closely with wp and town council or bypass wp work only with pap? I dunno - I am not in an oppostion ward. BUT if they do, I will be at the front of the queue condemning them. Link to post Share on other sites More sharing options...
Gearoil 1st Gear May 10, 2011 Share May 10, 2011 I'm also not happy about some RC members in my area, their attitude sucks and quite frankly, they think they are the little LHL and look down on other residents. During GE, wear PAP white and walk around the estate nearly want to 360/720 already. I'm not happy with their arrogance. But nevertheless, I recognise that the many workers and volunteers in the RC have organised many activites for the residents especially the older generation. I think the concern here is whether personal preference in party or company should dictate the quality of your work or your attitude to work. This is an issue of professionalism which if the many rumours are true, then the civil servants supposedly there to serve the people have a serious lack of professionalism. This can be seen by the methods in which the LUP is selected and preferred by their leaders, hence, the surbordinates have 'moral approval' to duplicate it. O.K... I humbly ask you a simple question... How can your Masters used State funds to threaten and tempt you heartlanders..like the money to be used come from the party funds, during erection? You mean party fund IS STATE fund? So does that answer your question about....professionalism? ↡ Advertisement Link to post Share on other sites More sharing options...
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