Showing posts with label Thought of the Day. Show all posts
Showing posts with label Thought of the Day. Show all posts

Friday, April 12, 2019

TOTD: The Final POISONOUS Death Dagger stabbed into Alternative Media.

Thought of the Day - The Final POISONOUS Death Dagger stabbed into Alternative Media.

Most people like me, would look at the Fake News Law at superficial level on first sight. This is always the tactic used by PAP controlled Mainstream Media to mislead and misguide people into looking at the big punch while avoiding the poison darts and daggers hidden in that thick legislation.

While we are busy criticising why political appointees like Ministers were given such huge power to decide what's true and what's false, we miss the whole poisonous intent of this law.

Hidden within this legislation is the vicious intent to force the closure of all alternative media by taking aim at advertisers and sponsors of alternative media, instill FEAR into them while putting an "exemption clause" so that it could be used to exempt PAP's Mainstream media.

The reason why Facebook and other international internet media platform are so against this law is basically because not only the owners of these platforms would be criminally liable but advertisers on their platforms as well as sponsors will be criminalized by PAP government as "supporting fake news"!

The proposed law and with no single doubt, would be passed, says that if a website or internet platform has been found guilty of DELIBERATE spreading "fake news" or information (for 3 times within 6 months), those who donated or sponsored these sites, or advertise on these sites, will be charged in Singapore court as well!

Now you know why there is an "exemption" clause which gives PAP great power to exempt SPH, Mediacorp and media under its control from this law because, even these media outlet could not be sure that each and every news they broadcast could only be True but not Fake!

On the other hand, who would dare to advertise on alternative media like TOC or Independent SG if this law is passed? Who would dare to donate to these entities to face the risk of being prosecuted by PAP government if these media get into trouble with Fake News legislation?

This law is a total Farce. It is making use of the excuse of curbing "Fake News" to empower PAP Ministers with enormous Judiciary and Executive power to thumb down internet media which they don't like!

It goes against the spirit of Rule of Law whereby the Judiciary will be totally by-passed and smack of Rule by Law of a dictatorial power which will decide who will be exempted while who will be persecuted!

The potent poison actually lies within the details. If Singaporeans do not wake up to such blatant facts but chose to believe in PAP's sweet talk of its weak justification to empower themselves with such dictatorial powers, I fear Democracy will leave us eventually one day.

Goh Meng Seng

Thursday, March 14, 2019

TOTD: PAP's Irresponsible Embarrassment


Thought of the Day - PAP's Irresponsible Embarrassment

When the Maritime Dispute was flared up back in late 2018, PAP Ministers, MPs and even IBs were making war cries all over.

PAP government even went to the extend of "demonstration of war preparation" by inviting the Main Stream Media to do the First of the kind of report on the Open Mobilization of the Airforce.

Live Firing exercises were carried out subsequently.

Along with the Main Stream Media and its IBs, PAP went on whipping up Nationalistic sentiments against Malaysian's "Intrusion of Singapore's Water".

PAP government has put it in no uncertain terms that the area in dispute is within our maritime boundary.

I was curious about that and did a series of research which I have posted on my Facebook here. It turns out that there is no Internationally recognized Maritime Boundary in that area of dispute!

In fact, the delimitation negotiation which Singapore held with Indonesia has stated very clearly that they could not confirm the maritime boundary which borders Indonesia, Malaysia and Singapore basically because Singapore has yet to negotiate and confirm with Malaysia government the exact maritime boundary between the two countries. Thus, the maritime boundary between Singapore and Indonesia stopped short at the western part of Singapore.

It basically means that PAP government actually KNEW that we do not have an official boundary drawn and confirmed with Malaysia in that area of dispute.

I would regret to say that Malaysia was right to say that the disputed waters should be considered as "International Waters" as there isn't any recognized boundary confirmed by any party.

Due to some strange unknown reasons, after more than 50 years of independence, PAP government did not initiate any formal negotiations with Malaysia on delimitation of the maritime boundary in that area.

If PAP knew these facts but yet, went on a series of actions to make war cries, then I have to ask, is that what a responsible ruling party should do?

Many people attacked me for "siding with Malaysia" but the truth is, it is always easier to be populist by hitting the Nationalistic drums rather than looking at the issues objectively and do our own research on these issues to come to a sensible conclusion.

I have stated very clearly in my previous FB posts, the only rational thing to do is to start negotiation with Malaysia to determine and finalize the maritime boundary in that disputed waters, instead of doing war cries which will result in irreparable damage to bilateral ties between the two people across the causeway.

Well, finally PAP comes to their senses and stop their irresponsible nonsense of Nationalistic adventure.

But I have this to say, PAP always tries to portray Opposition parties as "populist", "extremist" or even "irresponsible" but it seems that PAP is guilty of all these traits and Singaporeans should remember this, without a strong, rational, reasonable and critical opposition in parliament, any ruling party like PAP might just goes rogue and become irresponsible, endangering the safety of this nation with their nonsensical self-serving stunts.

Goh Meng Seng

https://www.todayonline.com/world/malaysia-and-singapore-agree-revert-original-port-limits?fbclid=IwAR3Z_ZAmmI0oSrzR-r4G1iq27l7bQ-lbu0xOdK_NgQhoYQ7803ugxRgdxUU





PUTRAJAYA — Within a month from Thursday (March 14), Malaysia and Singapore will revert to their original port limits after both governments agreed to suspend the previous extensions of their port limits.

They also agreed not to authorise and to suspend all commercial activities in the area as well as not to anchor any government vessels in the area.

These were among the five recommendations by a bilateral working group that both countries will implement with effect from Thursday, announced Singapore's Foreign Affairs Minister Vivian Balakrishnan and Malaysia's Foreign Affairs Minister Saifuddin Abdullah in a joint press statement on the same day.

The other two recommendations are: Vessels of both countries will operate in the area based on international law including the United Nations Convention on the Law of the Sea.

Relevant government agencies on both sides will "work out practical modalities to avoid untoward incidents in the area", said both ministers.

In the last of the five recommendations, both sides will set up a joint committee chaired by the permanent secretary of Singapore's Ministry of Foreign Affairs (MFA) Chee Wee Kiong and Malaysia’s foreign ministry secretary-general Muhammad Shahrul Ikram Yaakob.

This committee will look at the "boundary delimitation", which will ensure that the other recommendations be implemented within one month. Once that has been done, negotiations for maritime boundary delimitation in the area will commence within the following month.

“These measures taken by both countries shall be without prejudice to Malaysia's and Singapore's respective maritime boundary claims in the area,” said the joint press statement.

In the event that the committee is unable to reach an amicable solution on delimitation, the ministers added that both countries “may mutually agree to resort to an appropriate international third-party dispute settlement procedure on terms to be mutually agreed by the parties”.

“Both Foreign Ministers agreed that these measures were vital to de-escalate the situation on the ground and pave the way for maritime boundary delimitation of the area,” the statement said.

“These measures also demonstrate the commitment of both countries to work together to preserve a strong and positive bilateral relationship on the basis of equality and mutual respect, and to resolve bilateral issues amicably in accordance with international law.”

Tuesday, August 21, 2018

TOTD: STOP Living in Self Denial!

Thought of the Day - STOP living in self denial!

I read quite a number of remarks, articles and comments over VERS and felt pretty amused and sad.

People are still living in self denial of the massive scam of asset enhancement scheme initiated by PAP.

People should STOP thinking that PAP is coming to your rescue and giving you great money with VERS!

PAP has screwed up badly over the Assets Enhancement Scam and there is no way out of it without great pain to many Singaporeans. Please do not live in self denial.

VERS is not about giving a great deal to Singaporeans but an attempt to avert a sudden supply and demand shock to the HOUSING market when a massive over 200k flats come into expiry within a few years.

Sink that in and stop hoping for PAP to come to your rescue from a real rapid depreciation of your HDB flat.

Goh Meng Seng

TOTD: Credits Due


Thought of the Day - Credits Due

Well, I have to give due credits to the Minister of National Development for the willingness to consider my comprehensive solutions to the HDB-CPF mess and adapted some of the important policy options stated in my proposal.

Although he didn't give me due credits for my inputs for the obvious reasons, but still, I think he is sincere in solving the big mess of HDB instead of living in self denial like his predecessors, especially MBT.

For the good of our Nation's future, we need people like him who is willing to look at problems and situations objectively and apply or adapt good policy options, regardless of whether it comes from the opposition camp or not.

But one word of caution to him, my solutions provided must be looked at in totality and not in selective adoption else he will risk having incoherence in his policies.

I was quite reluctant to write that article to provide my policy options at first because these policy views are the accumulation of more than 20 years of in-depth study and understanding the HDB issues in and out, through and through.

But a friend of mine, who is helping the government in crafting housing development policies, had urged me to contribute, write, publish and share my views, for the benefits of our nation. He said the committee will take serious consideration of any good proposals and views.

After much considerations, I decided to write. The reason is simple, since Lawrance Wong has the moral courage to openly declare and correct misperception of public on HDB by declaring your HDB flat will have zero value when the 99 year lease expired, I believe that he is sincere in his approach, unlike MBT who would continue to misled Singaporeans on "assets enhancement".

I know my article was passed around the members involved in the policy committee

I would rebut PAP or anyone who claims we don't provide sensible and credible policy views or options in future. We may not earn $1 million, but we are no less talented than anyone.

Goh Meng Seng





Monday, June 04, 2018

TOTD: The High Speed Rail



Thought of the Day - The High Speed Rail

Some people ask me what do I think of Tun Mahathir cancelling the High Speed Rail project

Well first of all, we must understand that with such high price tag, it is bound to lose money for a long time to come if it was to be built, especially when it needs to compete with the current air flights between KL and Singapore.


Secondly, although most of the rail and stations were situated in Malaysia, Singapore will benefit most from its construction. This is basically why PAP Government is willing to foot half of the cost of constructing the HSR.

PAP will benefit from the shot up in land prices around Jurong area and it will make it easier for Singapore to attract Talents from Malaysia to come and work in Singapore.

However, it is obvious that PAP Government is facing grave cash flow problem despite of its boast of having huge reserves. Huge mega projects like HSR, Tuas Mega port, T5 @ Changi Airport, New Thomson MRT line etc... are creating an obvious pressure on the government finances, so much so that PAP is planning to raise taxes as well as borrowing to fund all these.

Why would all these multi billion dollars projects come all at once, at the expense of Singaporeans in terms of higher taxes?

Thus in my view, Tun Mahathir had made a timely wise decision to call off the HSR. Of course he did it for the consideration of his country's financial position but indirectly, he will also help Singapore to pause and think whether such mega project is really necessary for the time being.

Going for an expensive HSR which is destined to lose money will only serve the ego of PAP but will bleed us in the long run.

A medium speed rail may be more practical, cost effective and sustainable in the long run.

As for penalty, I would say that in consideration of Malaysia being our closest neighbor and it is struggling with the financial situation in the aftermath of GE14, its current financial and overall stability will also be our Core interests as well. Apart from being a gesture to rebuild our relationship with the new administration, it is also in our interest to see a stable and smooth transition of Powers in Malaysia. We will not be spared if Malaysia face a financial crisis.

Thus, in the spirit of maintaining the legality of contract and rule of law, I would suggest Singapore to impose only a token of fees for the breaking of contractual obligations by the new Malaysian administration.

Goh Meng Seng

Wednesday, May 02, 2018

TOTD- No Quick Simple Fix for Asset Enhancement Scam

Thought of the Day - No Quick Simple Fix for Asset Enhancement Scam

There are quite a number of people trying to offer quick fixes to the HDB Time Bomb without understanding ALL the problems and BAD impact created by the Asset Enhancement Scam which ultimately linked HDB to CPF, retirement financing.

It is a complex problem which involves multiple dimensions with complex tensions and competing needs. PAP's mistake in its Asset Enhancement Scam has pushed every Singaporeans in HDB towards a narrow dead end which entangles everything in a massive mess.

The fundamental problem of Asset Enhancement Scam is that PAP had changed Singaporeans' mindset and perception towards public housing, HDB. Instead of viewing HDB as a pure consumption commodity which serves as a mere safe roof over our heads, PAP had evoked the Greed factor by treating such basic needs of housing into some Grand Scam of treating it as an "Investment Asset" and releasing huge liquidity of FORCED retirement savings from CPF into HDB.

This created a "self-fulfilling prophecy" that your HDB will increase in price and value which was merely a short term phenomenon rather than a REAL high quality long term investment return. The excess liquidity forcefully released via CPF has created inflationary impact on HDB prices that created that delusion.

Furthermore, it has also transformed our CPF retirement financing model from "Self-sufficiency" towards "Cross-Generation Funding" via the inflation of HDB prices which CPF funds were poured into. i.e. our children, grand children and future generations will be the ones who will suffer and indirectly become the ones who financed the retirement finances of the older generations/our generation due to higher HDB prices!

However, such inflationary path of HDB cannot be sustainable due to the very nature that IT IS STILL PUBLIC Housing in essence and HDB dwellers DO NOT OWN the land at all. The eventual ZERO valuation of HDB flats while they approach their end of lease is INEVITABLE.

This will create a great silver tsunami that would overwhelm Singaporeans.

They must face the reality that PAP has scammed and fooled them into believing something that will never work nor come true.

I will provide a multi-prone approach solution to this mess in time to come. But this will come with a cost to most Singaporeans and please remember, such second best solution will have huge cost and PAP should be made responsible to it politically.

Goh Meng Seng

Friday, April 13, 2018

TOTD: HDB-CPF axis Time Bomb, the glaring failure of PAP and WP LTK



Thought of the Day - HDB-CPF axis Time Bomb, the glaring failure of PAP and WP LTK

I have said, the Asset Enhancement Scheme is actually the biggest self serving scam of PAP to hoodwink Singaporeans into believing only PAP government could guarantee their HDB flats could increase in value forever, defying the basic logic and economic/financial principles. LKY even boasted about PAP ability to make your HDB rise in value of 10,15 or even 20 times.

The most problematic with HDB is that it is linked to your retirement fund CPF. IF HDB is going to depreciate towards ZERO value, then whatever CPF money you put into it, will be totally wiped off. Your retirement plan will be hurt!

One of my initial resolve in joining opposition politics is to fight PAP against its Asset Enhancement Scam, which is extremely difficult because like any scam, it feeds on people’s greed. Most people are short sighted and didn’t see the full picture while only focus on their short term gain. They didn’t realize that HDB Price inflation may let them gain in short term, but whatever gain they get, is at the expense of their children’s future, as well as many future generations to come.

This greed which Asset Enhancement scam built upon, burnt like fire in the 1990s and even into 2000s. It was a perfect scam that helped PAP to hold on to absolute monopoly of power for three decades.

When I joined WP, on a few occasions. I had raised this issue to LTK and said that this is the most important issue we need to raise. He brushed it off saying that what’s wrong with Asset Enhancement Scheme? It is good what!

Needless to say, I was completely disappointed that the leader of the opposition party which has one of the two seats in parliament, couldn’t see through such a scam.

I tried to explain why this AES is wrong but it just couldn’t get through him. Apparently, the lack of a good Economic training is the key weakness of LTK.

After I left WP with disappointment, NSP approached me to join them. This time round, I didn’t bother to try to explain why AES is bad. I just threw the issue out during the GE and challenged MBT on his Monetizing HDB for retirement concept.

I found out later, apparently this so call brilliant idea was created by a respected professor teaching sociology in NUS. Deep down, I guess it is totally bad idea to have a sociologist to meddle with Economic policies after all.

And I believe LTK didn’t believe AES is bad basically because it was backed by such academia.

Goh Meng Seng

TOTD: HDB Circular Contradictions



Thought of the Day - Circular Contradictions

We have heard about Circular Argument but this is the first time I have heard about people going in Circular Contradictions!

This actually comes from the Chief of HDB. It is good that she has talked about people should pay according to the lease remaining in a resale HDB flat but she still insists that HDB could be monetized as an asset for retirement!

One of the key method of monetizing HDB for retirement is to downgrade to smaller flats. But wait! If people follow her advice on paying much lesser to flats that are old, the. How would the retirees selling their old flats for good money in order to downgrade to a smaller flat, the new studio apartment but yet have excess money to get out from the deal to finance their retirement?

Besides, most people would have PLEDGED their flat to HDB and I guess there would be very little money left for them to cash out from the downgrading, if there is any at all!

And studio apartment isn’t that cheap at all! For 30 years lease, HDB made you pay $60k to $80k depending on locations but if you calculate prorated according to lease, it means this one room studio apartment actually cost $180k to $240k for 90 years! Please remember, it is just a studio apartment!

So if you can sell your three room or four room flat at $250k, if you could actually sell it off in the first place when the lease left is merely 60 years or less, half of it goes to CPF due to the pledge, at least $60k goes to the new studio apartment, in the end, after netting transaction cost, you get $50k or $60k after all that trouble but how long could this last for retirement?

The other option is even more kind of a joke instead of real option. Selling back the lease to HDB. How much would HDB pay? Definitely much lesser and most probably ended up with a couple of hundred dollars per month.

To rent out their flats? The truth is, PAP doesn’t value your privacy at all. And when the grey tsunami waves set into motion, I don’t know whether there is high rental market to make money from when you start to have lots of supply of rental flats from both HDB and private apartments.

Of course, those staying in three room HDB may have to sleep in living room in order to get enough rent to live on ...

The whole problem started when PAP sold Singaporeans the FALSEHOID and FAKE dream that Asset Enhancement Scam could do wonders and make your HDB rise in price forever. That’s why people are throwing huge amount of their CPF into this scam. Now they are stuck.

With graying population, who will buy old HDB flats with dwindling lease? The situation will be worse when many baby boomers who have stupidly believe in PAP Asset Enhancement scam, try to sell off their old HDB flats to cash out for retirement because they have very little left in their CPF after paying a great deal for their current HDB flats.

There will be oversupply of resale HDB flats with very small demand... who would buy after hearing the confirmation from PAP that these flats will have zero value after lease expired and now, these flats have less than 60 years and they would not be able to sell them off for retirement?

The price for these flats will face a spiral downward price pressure and in fact, most of them will have problem selling.

It is an amazing Circular Contradictions which the HDB Chief tries very hard to sell. She is just like that sociologist, who only look on the overly simplistic micro level instead of looking at the macro level of possible market conditions.

Don’t ever allow sociologists to meddle in Economics policies again. We will end up with never ending Circular Sufferings.

Goh Meng Seng

Thursday, April 05, 2018

TOTD: Greatest Falsehood and Fake News from PAP ...



Thought of the Day - Greatest Falsehood and Fake News from PAP ...

FORGET about Operation Coldstore or Operation Spectrum. Singaporeans are just pragmatically selfish and self serving. They won’t be bothered about what injustice had happened to a few tens, hundreds or even thousands of people as long as these don’t affect them directly. We are cultivated to be reaped off of any sense of Social Justice but only taught to focus on our own short term selfish well being.


That’s the harsh reality of being a Singaporean.

The biggest, greatest Falsehood and Fake News that were cooked up by PAP Government is Asset Enhancement Scheme and HDB for retirement financing.

What they have done were just a tiny bit of Enbloc with some upgrading which were politically motivated as pork barrel politicking and in the end, Singaporeans were made to believe that their HDB will be “Enhanced” and thus increase in prices forever! It serves only their agenda of prolonging their monopoly of power without telling the HARD TRUTH that such disastrous scheme will only make them “feel rich” at the expense of their future generations who will be paying for higher HDB prices!

They have messed up the HDB system so badly that there is no way of reversing the bad scam without causing Huge pain to a few generations of Singaporeans.

In the end, Singaporeans were told that not all of their HDB will enjoy enbloc... in fact MAJORITY 96% of HDB won’t enjoy enbloc and their HDB flats will turn to zero value when their lease is up! Did they tell Singaporeans about this critical information back in 1990s when they keep harping on Asset Enhancement Scheme? Half Truth told is no Truth but selective Falsehood!

Singaporeans are fooled in believing in the scam of Asset Enhancement Scheme which is nothing more than making you pay MORE for your HDB flats WILLINGLY, justifying higher and higher prices for New HDB flats through the hedging of prices via the BS OF “market subsidy”, which is not a subsidy at all but effectively just a discount.

At the same time, such fooling scam gave PAP the votes from those who were fooled by them!

Politically speaking, it was the most wonderful "perfect" scam in which you made the voters suffer by paying higher price for the HDB flats the PAP government’s selling but yet, they feel so happy paying higher price and gave PAP votes to maintain their monopoly of power!

But just like any scam, it cannot last forever because it is not sustainable at all. People were made to use up all their retirement fund CPF to buy HDB which doesn’t guarantee forever higher return, not even good as an investment. The time must come when people realize that they have neither the necessary CPF for financing their retirement despite of having the highest rate of contribution in the world, nor the dream or possibility of getting good price for their old HDB flat to finance their retirement.

The situation will get worse and peak when my generation starts to reach 60 years old, which is only 12 years away. At present, the situation is just starting to show the stupidity of the whole scam. For the next two decades, we will see slow collapse of the CPF-HDB scam and by the third decade, most probably the whole system will collapse which most HDB will cross their 40 and 50th year and there is a rapid decline in their prices.

A few generations of Singaporeans will suddenly wake up to the fact that they have been fooled and their hard earned CPF is totally wiped off by the Asset Enhancement scam which was promoted by PAP 30-40 years ago!

2011 was the critical year which we might have the slightest hope of saving the situation but that window of opportunity has lapsed. PAP will NEVER admit their deliberate mistake made in their own interests of self preservation instead of a long term vision for the good and well being of Singaporeans. Many Singaporeans will live to regret for their foolishness in believing in such a big scam and Falsehood propagated by PAP simply because they are blinded by their own greed.

Goh Meng Seng

Thursday, September 07, 2017

TOTD: The Return of the Gold Standards?

Thought of the Day - The Return of the Gold Standards?

(This is going to be a bit technical in economics)

In Economics term, we are living in an ever inflationary world basically because we are all using "Fiat" money which government around the world could just print money in the short term without caring the long term consequences.

Prior to 1971, US dollars were "convertible" to gold at the Federal Reserves if presented by other government. The Gold Standard was changed significantly when the Breton Woods Treaty was implemented after World War II. People could no longer exchange Gold for their money via their governments. It was a necessary step as the Great Depression of the late 1920s throughout the 1930s gave the Americans a very tough lesson on Monetary Policy. The Gold Standard has its limitation as it would reduce Money Supply when people just convert their money into Gold. This created a spiral effect on the economy with a reduction of Money Supply.

Breton Woods Treaty solved part of the problem of instability of Money Supply. However, Monetary play between countries took another toll on the arrangement with the Americans basically ceased the convertibility of US dollars into Gold in 1971.

But US dollars remains as a strong international currency basically due to the "Petrol Dollars" arrangement. It means that all trades in oil have to be done based on US dollars. This implicitly means that due to the high demand of oil and petrol, the US dollars are basically "backed by oil/petrol". That is why it is called "Petrol Dollar". It would also mean that the American governments could basically keep printing money to cover whatever trillions of deficits as it wishes without significant impact on its economy as most of these US dollars would be used in trading oil and other international trades.

But will this arrangement be sustainable? Apparently not. Oil would either face drastic reduction in demand due to the rapid growth of alternative renewable/Green sources of energy or it would just deplete and dry up. There will no longer be high oil trade to back US dollars up!

In 2001, Dr Mahathir proposed the revival of Gold Standard in terms of Gold Dinars among the Muslim countries. The largest Gold owners among the Muslim countries were Libya and Iraq. These two countries were oil exporter and supported the idea to trade oil in Dinars. This would mean that they are going to end the concept of "Petrol Dollar" earlier than its inevitable natural death! Now you know why the Americans invaded these two countries and the Gold stored in these two countries are unaccounted for!

The Gold Dinars idea was destroyed with the destruction of Libya and Iraq. However, a BIGGER Challenge evolves and they are not easy opponents like Libya and Iraq.

The BRICS led by China and Russia have been discussing the setting up of an alternative currency for international trades among themselves. This would also mean the sideline of the US dollars as the main international currency for trade. This new proposed currency will be back by Gold, partially, with a basket of currencies consisting of Chinese RMB.

It would mean a medium shake up or even sending shocks to the international trade and financial sectors. BRICS will be able to execute such bold plan because Russia is one of the largest oil exporter while China is one of the largest exporter of goods and services in the world! If they demand all oil or goods purchased by other countries from them need to be paid in this new BRICS currency, the US dollars would be totally made invalid and redundant.

US dollars will suffer a nose dive if that happened and it will create an unprecedented inflation within the US economy because those US dollars which could not be used in international trades will have to flow back and create a real demand on US economy!

But with the Gold which the US army had captured from Libya and Iraq, they could do something to anticipate such financial disaster. They could just use their new found fortune of Gold to create the new modern Gold Standards to neutralize that impact. At the same time, they will require other countries to support their effort by lending their Gold to US to create this new US dollars.

This is exactly what the Americans are doing, creating a new currency issued by its Treasury (instead of its Federal Reserves) which is theoretically and supposedly backed by Gold.

The BRICS arrangement will affect not only the US dollars but the Euros as well. This is the main reason why Germany is quietly demanding and shifting its Gold back from US in anticipating the "New World Currency Order". Germany is the LARGEST economy among the European Union. It will either have to use its economic muscles to back the Euro currency or to return to a Gold Standard Deutsche Mark in the event when Euros collapses due to the evolving of "New World Currency Order".

There will be turbulence ahead in the next few years and nobody knows exactly how it will work out. Will the world face inflationary pressures to the countries which didn't peg their currencies to Gold or will there be deflationary pressure on international trade when international currencies for trade will be restricted and limited from expansionary path?

Or would BOTH happen and we will be stuck in stagflation?

Goh Meng Seng

Wednesday, August 30, 2017

Don't Void Your Votes to Make PAP Halimah Looks GOOD! Anyone But Halimah!

Message of the Day

Don't make PAP Halimah look Extremely Good by voiding your votes! Just vote ANYONE BUT PAP HALIMAH!

Some people have been going around to urge people, especially Opposition supporters to void their votes. I hate to say this but this is an Extremely Stupid idea to start with!

First of all, do you know what will happen if these people managed to convince 10% of opposition voters to void their votes? It would mean that right after polling result comes out, the MSM media will have headlines screaming "Halimah has won a Glorious Victory with over 80% of valid votes cast!"

It would be even worse if both of the other contestants lost their deposits!

Do you want to make PAP look good with such a "Reserved Presidential Elections"?

Tony Tan is a Face-Losing President without much legitimacy or mandate basically because he got less than 50% of valid votes cast! The aim for this coming PE, IF THERE IS ANY CONTEST at all, is either to make Halimah lose or shame her and PAP by depriving her the basic mandate of 50%! This will be a tight slap on Halimah and PAP's public discourse of having a President who represents and unite Singaporeans.

This should be the ONLY Objective of this coming PE, to shame PAP for its political maneuvering and deprive Halimah the legitimacy and mandate of Singaporeans.

If we continue to have Elected Presidents who cannot even garner a simple majority of support from Singaporeans, then this Elected Presidency is basically flawed and we should then demand the amendment of the Constitution to have second round of voting between the two highest polling candidates if the first round of voting doesn't produce a winner who could garner more than 50% of valid votes cast!

Do not hand over the total monopoly of power to PAP so easily without a fight. The role of opposition politicians is to win votes, not to ask voters to void their votes and in the end making PAP looks extremely good with glorious results!

If PAP didn't even care about Barisan Socialists boycotting the GE back in 1960s, do you think PAP even care about people voiding votes?

Please do not repeat the stupid mistake which Barisan Socialists made when they boycotted the GE and handed over total monopoly of power to PAP so easily on a silver platter!

Goh Meng Seng

Wednesday, June 14, 2017

TOTD: Respect LKY's Last Wish

Thought of the Day - Respect LKY's Last Wish

As an opposition politician, I am apparently not a fan of LKY for all my adult life, for reasons I have already expounded during his death in 2015.

However, if he truly wished not to have his old house to be made into a memorial monument for himself because he did not want to become the idol of hero worshiping in spite of all those high praises (regardless whether worthy or not) of his achievements for Singapore, then at least this formidable opponent whom I do not like, earns my respect for this last decision.

It is shocking to me that the current PAP government under his very own son's leadership, has seek all means and ways to go against his last wish. If what Lee Wei Ling had said in her latest combined statement with her other brother, Lee Hsien Yang, is true, then I would say this is a FEARFULLY DISHONORABLE act from our government.

PAP and its Prime Minister had been screaming "Rule of Law" high and low in recent months over all things but I would say, to use all legislative means to DISHONOR the last wish of their very own "Hero", Mr Lee Kuan Yew, is neither a good example of "Rule of Law" nor Rule of Morals. Do they not want LKY to Rest In Peace?

LKY has not only stated once in his life that he did not want any monument for himself and has stated clearly in his last memoir that he wanted the old house to be demolished after his death.

Why is that so difficult to grant the very person whom so many Singaporeans adore and respect, his very last wish?

As far as the house is concerned, this is a Private house belonging to LKY and now, his estate and immediate family after his death. Though PM Lee has stated that this is "private family dispute" over the house, but why should his government be meddling in this private matter of the house?

PM Lee is totally incoherent here. Once his government decided to exert power to determine the future of the Private House of the Lee family, it will no longer be a private matter but a public matter.

Why would he set up a Ministerial Committee to determine the fate of this Private house? To determine a dead man's will? There isn't a need to. LKY had repeated expressed in no uncertain terms that he did not want any monument to be set up for him after his death. Isn't that clear enough? Thus, I would say that although I am not prevail to all the insider's details, I have to agree with Lee Wei Ling and Lee Hsien Yang that the government under PM Lee is abusing its power to force or influence the outcome of a purely Private matters of the Lee family.

This is especially so when the three siblings had just signed an agreement on how to deal with house but yet, PM Lee set up this Ministerial Committee to re-look into the matter again. Why would that be so? It is no wonder both Lee Wei Ling and Lee Hsien Yang felt betrayed and anyone in their position will naturally think that their brother has abused his political power to get what he want. Most importantly, how could they ever trust him again with this political maneuver?

This saga has sent chill deep down into my spine. Imagine:

If PAP government could even dishonor their very own founder, LKY in such manner, who else would they respect? Definitely not small potatoes like us in the street.

If what Lee Hsien Yang and Lee Wei Ling said is true, even they felt uncomfortable by their brother's use of national machinery to monitor them up to the level of making them feel overwhelmingly intimidated and wanting to migrate out of Singapore, what else could we expect for those of us who are powerless but brave enough to stand up as opposition members?

If the PAP government even dare to use their administrative and legislative powers to forcefully take over a private house in such manner, with so much disrespect to the one they claimed they adored, loved and worshiped, there is no other people's private property they would not dare to take forcefully if they fancy!

If even the member(s) of the most powerful and influential Lee family would say openly that the Singapore's Main Stream Media is controlled by the government and the 154th ranking given to them by international organization is somewhat justified, how else could we as a nation trust the MSM?

If even the members of the Lee family felt that there is basically no proper separation of powers and a total lack of checks and balances of the power that be, why should we still trying to make believe that this is a meaningful democracy at all?

The latest public statement made by both Lee Wei Ling and Lee Hsien Yang is highly provocative and even up to the point of potentially defamatory if all these assertions are untrue. Apart from the accusation of abuse of power, there are other serious accusation. This is especially so on the part of indirectly accusing Ho Ching of instructing senior civil servants when she holds no political office and has no power to do so. There is also mention of PM Lee obtaining official document (Deed of Gift) from one of his ministry and passing it to his own lawyer. (The last time such thing happened was in the 1997 defamation case against Tang Liang Hong.)

All these are serious accusations made by two prominent public figures from the distinguished family in Singapore and they cannot be ignored or brushed away lightly.

Goh Meng Seng

Friday, May 05, 2017

TOTD: May Day Lunch Box Economics

Thought of the Day - Lunch Box Economics

The Prime Minister's Stealing Advice

It is shocking to hear our Prime Minister trying to lecture our workers on how we should “steal other people's lunch boxes” in this year May Day celebration.

There are a few issues here:

1) To many Singaporeans who have lost their jobs to some cheap foreign substitutes, all thanks to PAP’s FT policy which encourages and allows millions of foreign labour to come to Singapore and work under the guise of job creation for Singaporeans, this is a totally ironic statement that needs cynical mocking! PAP government is the one who helps Foreigners to “Steal” our lunch boxes right at our doorstep and yet the PM has the cheek to tell us go and steal othet people's lunch boxes? That's basically shameless!

2) PAP government has basically stolen part of our workers’ lunch boxes recently, practically reducing the size of our lunch boxes by increasing Water Fee by 30%, Electricity tarriff, cooking gas and we expect more to come。。。 maybe GST or public transport fares. Can PAP stop stealing our luncheon meat from our lunch boxes?

3) In all international free trade agreement negotiation, all countries will try very hard to protect their own citizens’ lunch boxes but only PAP would sell our workers out by agreeing UNLIMITED foreign labour to come to this tiny red dot to steal Singaporeans’ lunch boxes! Oh while talking about this, I wonder how PAP and PM are going to negotiate more favorable FTA terms when other countries will now be extremely wary about PAP‘s intention of stealing their citizens’ jobs!?

4) Most probably our PM has run out of ideas in ensuring our own citizens can have meaningful well paying jobs insteas of facing rising unemployment rate. Lim Swee Say could actually say that jobs are not lacking but it is Singaporeans who do not have the skils! Hey, Singapore is a First World Country with best universities, tertiary institutions and education system in this part of the world! Many people from surrounding third world developing countries yearn to study in our schools! How could our education system unable to provide the necessary knowledge and skills for Singaporeans to get decent paying jobs while foreigners from third world countries could have those skills instead? He is basically insulting our intelligence!

5) The economic theory of Free Trade and Globalization isn't based n stealing other people's lunch boxes. If that is the case, no country would want to open up trade. The fundamental Free Trade is not based on competitive advantage but rather comparative advantage. It strives to provide win win situation instead of cannibalism if lunch boxes from others. Maybe our PM and the whole cabinet of million dollar ministers should go back to school learn basic economics fundamental





The Incoherent Excuses


First, it was Minister Lim Swee Say who said there is no lack of jobs in Singapore but it is Singaporeans "lack of skills" to take up these jobs.

Then we have Minister Ong Ye Kang who said Singapore capped the number of Singaporeans studying in local universities at 30%!

Now, it seems that the left hand does not know what the right hand is doing! If PAP is to cap the number of Singaporeans from obtaining the highest learning of knowledge and skills at 30%, no wonder we are lack of "skills" while we have to import so many Degree Holders (some with dubious certificates) from Third World Countries!

Job Reality on the Ground

We seemingly have a bunch of ministers who have totally lost touch of the ground. On one hand the Ministers think by capping the number of Singaporeans going to local Universities could prevent more Singaporeans from being unemployed graduates, thinking that by having more poly and ITE graduates with skills training, will make them more employable while the other Minister thinks that there are jobs but Singaporeans lack the skills...

If 70% of Singaporeans are already sent to poly and ITE, why are Singaporeans still lacking of skills?

The truth is, everyone who have education in Singapore should have acquired a certain skill sets and definitely so for university graduates.

The truth is, most of the time Singaporeans without a university degree will be scorned and salaries suppressed because employers will say "at this salary of xxx I can employ a FT with degree or even a master degree blah blah blah"....All thanks to PAP's extremely lax FT policy!

The Major Irony

Ironic... while PAP keeps talking about continuous Life long learning and upgrading, but in the end they want to restrict the number of people going to local Universities at 30%!

And PAP always lament Singapore does not have even "Talents" thus needs Foreign Talents from Third World countries but now we know it is PAP itself which deliberately restricts Singaporeans from grooming into Talents by depriving them a place in Universities via setting this limited quota!

Do you see the True Color of PAP yet?

Goh Meng Seng

Tuesday, February 28, 2017

TOTD: The Police State - Singapore

I have met an activist not so long ago. He was basically subtly INTIMIDATED by the PAP establishment via physical mail to his residence. They also sent a physical mail to his parents as well.

From the information printed out in the mail and the mail itself, it seems that it came from the SAME SOURCE which THREATENED Roy. And apparently, this is done by someone with the establishment apparatus!

It basically means that most probably ISD is involved in this case.

My young friend is shaken and shocked. He had never believed all the stories I have told him about how ISD operates and only now, he is convinced that PAP has been using or rather, abusing its power as the government to utilize the state's apparatus for its own political agenda.

My young friend had decided to stop all internet writings, activities and close down his FB as well.

I told him pretty straight forward. These dogs are tailing him and decided to bark at him basically because they have psychologists who studied his mental profile. He is scared, afraid and timid, which he refused to admit.

Well, the crux of the matter is this, no matter how I and other more seasoned politicians and activists seem to put forward the proposition that PAP is basically a dictatorship and there is no such as "benevolent dictatorship" but only a FULL POLICE STATE in all essence, terrorizing and using all methodologies to intimidate opponents and dissidents, most people will not believe UNTIL the day that they suffered the same fate of being persecuted by this invisible Police State.

PAP pretends to build a "democracy" but in every essence, it is not a party which believes anything about democracy and its core values. Not only its ministers would openly denounce democracy as "inferior" but in effect, propagate that only one party rule under PAP will be good for Singapore. It also asserts draconian means of any dictatorship would put up.

My young friend is one of the "unfortunate" or "fortunate" one who will experience first hand how a Police State works. But he chose to be threatened, hide away and went on in life with that constant nagging of fear behind his mind. I do not blame him. Most Singaporeans are tamed and timid in every sense, politically speaking. There are really very few REALLY courageous who would stand up and do what that little white monkey does, to PAP.

But make no mistake about it. PAP is not some good and innocent ruling party. It is a party with a great tendency towards full dictatorship. If it is not stopped, then there will be disastrous impact on the democratic development for Singapore. That would be too late for anyone to defend democracy anymore.

Goh Meng Seng

Saturday, February 25, 2017

TOTD: PAP's Poison to the Sick Economy


Thought of the Day - PAP's Poison to the Sick Economy

I didn't comment much about the current budget debate now but I look on with much nauseating disbelief with what PAP is doing right now.

It actually reminds me of what happened in 1981 and 1984, when the economic downturn and crisis was imminent but PAP government back then continued to increase cost to the people and businesses. It did cost PAP two seats in parliament but apparently that wasn't bad enough for PAP to learn its lesson.

Most importantly, the economy dipped much worse than expected due to PAP's totally senseless economic policies melted out through its yearly budgets.

70% of Singaporeans have to take responsibility for the current senseless doings of PAP government. They had given PAP such a strong mandate that PAP literally has the total blank cheque to sign on.

We are going to face a serious structural economic downturn in the coming months but what did PAP do? It just adds on the burden of Singaporeans and businesses by raising various costs. Water, as the most basic necessity for human beings, is slated to raise 30% within two years! But PAP's MPs and Ministers, with totally naive and sometimes, idiotic senseless humor, expects Singaporeans' pay to increase in such economic difficult situation while goods and services should not increase in prices!

The water pricing, along with electricity tariff, are the two basic fundamentals for both human beings and businesses. It would be totally naive to believe PAP's rhetoric that each household only pay $18 more on average for water when other goods and services, especially food and beverages, will increase in prices as well!

Right from 2015 "PAP VICTORIOUS 70% mandate", PAP had increased almost everything possible. Mark my word, GST would be the next golden goose they will aim at.

Singapore has already one of the most expensive water pricing in the world while its raw water cost from JB is kept fixed at such a low level. Hong Kong which bought raw water from China, had paid a higher price as compared to Singapore but in the end, Singapore's portable treated water price is more than 5 times more expensive than Hong Kong! Hong Kong is definitely not a "low cost" city but why did Singapore's water price so much higher? There are many reasons but I shall not deal with it here. In fact, the real cost of raw water from JB which Singapore bought, had DECREASED due to depreciated Malaysian Ringgit! Basically, Singapore has allowed cost to escalate without much control.

The introduction of Carbon tax at this instance, will add oil to the fire we have. Not only electricity tariff will go up but all cost will shoot up in no time!

Most people have realized PAP's CFE report is nothing but just old wine in new bottle. These are not some magic pills to address our current and future economic development. But the current acts of PAP increasing so much costs to livelihood in Singapore, is definitely a poison to our ailing economy, which our dear PM refused to acknowledge its sick status.

It is a common knowledge that PAP will want to increase prices and milk Singaporeans for whatever they can milk at the mid term of their 5 year rule so that Singaporeans could slowly forget such pain by the time when elections come in another 2 or 3 years time. They will throw goodies and candies just before the next GE just to appease all voters. They thought the current "bitter pills" would be OK for Singaporeans to swallow but they are wrong. These are really POISON they are feeding Singaporeans, without any good sense of judgement of the current economic situation!

The current Finance Minister, who had just recovered from his "stroke", may not be thinking proper. It is unbelievable for him to come up with such poisons for Singapore at this stage. Finance Minister Heng Swee Kiat should resign if his proposed massive increment in prices, indirect taxes and cost burden to Singaporeans and business finally killed us in the upcoming economic storm.

On top of that, PM Lee should also take assumed responsibility for allowing such bad budget to be passed in parliament.

Goh Meng Seng

Thursday, February 16, 2017

TOTD: PAP Government's Idiocy in Naming WWII Memorial

Thought of the Day

I really find the PAP government exceptionally DISTASTEFUL even in choosing a name for a memorial exhibition gallery of World War II. Maybe they need to spend another half a million dollar on "Consultant Fee" to some crony company to review the disgraceful and disrespect name of Syonan Gallery.

It is inexcusable for PAP to make such low level brainless mistake in choosing such a name! Maybe the "Power that be" had not suffered that much under Japanese Occupation, which in fact, made a little fortune during that period of time, that made them totally insensitive to the pain and scars of those families who had suffered greatly under Japanese Occupation.

The Japanese Occupation forces in China called China as "Cheena" (支那)or Sick Man of Asia(东亚病夫) , can you imagine if the Chinese start to have memorial gallery named as "Cheena Gallery" or "Sick Man of Asia Gallery"? You will definitely have riot in China if this is to happen!

Unbelievably, I actually saw some opposition leader visiting this Memorial of Shame and Disgrace during its opening! I would have boycotted such disgraceful memorial gallery altogether!

Make no mistake about it. Those PRC or Korean tourists would definitely look down on Singaporeans and regard as some shameless idiots who could actually use such name for a memorial hall of Japanese Occupation!

Goh Meng Seng

P.S.

Some Singaporeans are ignorant of what "Syonan" or "昭南(岛)" means in the context of Japanese Invasion and Occupation. That is excusable because most Singaporeans no longer have strong Chinese learning or know Japanese language.

But for the Historians and PAP politicians who put up that Syonan Memorial, this is inexcusable.

Syonan literally means the Glory Light in the South. In the context of Japanese invasion and occupation, it glorified the Japanese victorious invasion and occupation, bringing the Japanese "Imperial Sun or Light" to the Southern part of Asia.

Thus, by putting the memorial hall as "Syonan Memorial", it literally means "Glory Light in the South Memorial"! Isn't PAP government putting remembrance of the Glory of Japanese Occupation? Isn't this a bloody insult to those who had suffered and killed by the Japanese Imperial army during World War II!

This is why I find it extremely distasteful and disgusting for PAP government to put such name to the Memorial Hall!

Tuesday, February 07, 2017

TOTD: Hypocrisy of PAP's Minority Representation



PAP has tried very hard to justify its amendments to the Constitution with regards to the Elected Presidency. It has said that we should have "Minority" Representation for our Elected Presidency and thus, set up entry barriers to bar competition from other potential contenders.

However, the Elected Presidency is NOT about Minority Representation but a representation of National Interests in providing the necessary INDEPENDENT Institutional Checks and Balances to the Government of the Day in safeguarding our National Reserves!


Such lame excuses are typical of PAP and it is actually quite frightening. The Hypocrisy of PAP is further exposed when they demolish the very fundamental excuse of Minority Representation by denying that there is a need for by-elections if the Minority MP in a GRC has resigned or dismissed from his or her position!

There is no single doubt that whatever PAP has done or is trying to do is all SELF-Serving and we must be very worried now because we should ask ourselves, why would PAP go all length to prevent REAL Checks and Balances to be installed?

Goh Meng Seng

Saturday, January 21, 2017

TOTD: The Parasites of Elitist Cronism

Thought of the Day - The Parasites of Elitist Cronism

GLCs or Government Linked companies used to be the PRIDE of Singaporeans where many Singaporeans would like to work for them. We always thought that being "government linked", they are big and supposed to protect Singapore's and Singaporeans' interests, including those Singaporeans who work for them. And indeed, in the past, these GLCs set the high standards of employment, in terms of pay as well as benefits, in Singapore's labour market.

But now, we suddenly find more and more of these GLCs are actually in suspect of breaching the labour law or good HR and employment practices. Some even bully their lowly educated employees to take advantage of them, by deducting their over time hours consistently without giving any good reasons and making them working excessive overtime hours, much more than the 73 hours over time per month allowed by labour law.

Worse still, these entities play with figures manipulated the pay structure in their employment contract as contrast to their advertised salary. They set extremely low basic pay so that whatever overtime pay you claim would be based on a low pay structure. Furthermore, they will set unreasonable conditions to milk the employees, basically inhumane to take away the "monthly allowance" if the employees take Medical leave or annual leave in the month which were legitimately protected as entitlement under the labour law!

Basically such employment terms are MODERN SLAVERY to the max and it is really unimaginable that all these bad practices are actually coming from our once glorious GLCs!

And now, we have another GLC trying to disguise massive retrenchment as some "sacking of under performers" in the bid to avoid paying retrenchment compensation!

What is wrong with all these GLCs? Well, to me, this is the inevitable result of a government that runs on Ultra-capitalism mindset. The top management will only care about their own fat pay cheque and to meet all KPI (Key Performance Indicators) so that they could get more salary increment to their million dollar pay as well as asking for bigger "performance bonus". But these KPI or "performance" don't really add value to the company nor the economy as a whole. These are all based on exploitative unethical enslaving employment practices rather than real value add to the company.

This is the reality of PAP's entrenched rule of over 50 years. They have lost sight of their moral compass in running the country after all these years and ended up with a bunch of elitist cronies who are turning into parasites of the whole system. Instead of adding real value to the companies, people and country as a whole, they are only interested in feeding on the blood and sweat of the people.

When they screw up a GLC and cannot turn it around, they would just do lelong sale of valuable assets to show unreal "profitability and value", cut cost by cutting jobs to continue justify their big fat pay and eventually sell off the whole company to foreign ownership just to wash off their hands of the inconvenient truth of their failure! Well, never mind if that is an National iconic company!

This is the sad state of affairs in Singaporeans, run by a group of unethical, heartless and soul-less, undeserving and overpaid elitist cronies groomed by PAP's rule!


Goh Meng Seng

Monday, January 16, 2017

TOTD: Back to Fundamental of CPF

Thought of the Day -
Back to Fundamental of CPF

I was talking to a friend over CPF issues recently and it seems that I have some of the more "radical" thought over CPF.

CPF was supposed to be meant for retirement financing but in the end, it becomes some sort of "piggy bank" for PAP as well as Singaporeans for many purposes.

First, PAP allowed you to use CPF to buy properties. Most Singaporeans are happy with such arrangement as they feel that they will be able to own a property in their lifetime. I also used up all my CPF available to buy property but that is because I do not trust PAP with my money. This is another issue for another day.

Then PAP says that you can use your parents' CPF or your own CPF to pay for higher education. On top of that, you can use your CPF to pay for your parents, children, brothers, sisters etc medical fees!

Singaporeans thought that these are all "good arrangement" but the truth is, it will create two/three problems:

1) Over consumption of housing, education and medical care
2) Depleted CPF for your retirement
3) Kicking the can down the road

On top of that, it will create other problem of another dimension:

1) Over reliance on CPF money for anything, everything
2) Weakening of Financial management skills and planning
3) Total lack of saving habits

Most financial planners will tell you that you will need to save a certain percentage of your salaries every month for future retirement. It is normally set at 20% to 25% of your income, depending on your income level.

But due to PAP's conflicting policy needs, it has totally messed up the CPF system and in the end, it resorts to setting some unrealistic arbitrary "minimum sum" which many lower income earners could not meet mainly due to the over consumption of housing. i.e. they were allowed to buy properties which they couldn't afford and shouldn't buy in the first place, if they were to stick to the 25% savings rule for retirement!

The only right way to due with this situation is set the saving rate for CPF at 25% (contribution of employee and employer add together) while banning people from using it for just any other thing, especially for housing and medical fees for other family members!

Employer's CPF contribution should stay at 17% while employees' contribution should be cut from 20% to 8%. This would mean that employees or Singaporeans will have additional 12% of their income in cash. If they need to buy property and use it to pay their mortgage, they can use this additional 12% cash to do so. However, they should not use any CPF money for mortgage payment.

For young people, they should start to learn how to do financial planning and I reiterate this point that basic financial planning concepts and knowledge should be taught in the common school curriculum! They should make it a habit to save for down payment for their first property purchase and plan for their mortgage payment as well. In general, for middle-lower income earners, they should not be using more than 35% or 40% of their income to pay for mortgage. This will prevent them from over-consuming housing and it will keep property prices in check.

If they intend to start their own little business, they could save up these extra 12% of their income for future business plan!

Our property prices have been artificially pushed up due to the excess liquidity which PAP allows Singaporeans to use CPF in doing so. This applies to prices of Medical care as well. It is precisely that Singaporeans do not "feel the direct pinch" from using their CPF money to pay for Medical care or housing, they tend to not mind spending excessively on these products and services. Of course, HDB and hospitals alike, are also happy to charge higher prices because "it is affordable" to Singaporeans due to the excess liquidity provided by CPF!

PAP has abused the system in skewing the "affordable" argument. It is not affordable when Singaporeans are paying more than 35% or 40% of their salary for a 30 year mortgage. That is totally rubbish argument of affordability because if you purchase your property at the age of 30, by 60 years old, you will have very little left in your CPF account for retirement!

The proper way of inducing better financial management by Singaporeans is to make them manage their finances according to the fixed CPF retirement saving rate (which could be adjusted according to income level) so that they would make better rational choice in their spending in housing, education as well as medical care.

This may sound "radical" to many unthinking Singaporeans and they may just jump up and down denouncing such plan but this is the only right thing to do in the face of ageing population.

Goh Meng Seng

Sunday, January 15, 2017

TOTD: Terrex the Jialat Ministers

Thought of the Day -Terrex the Jialat Ministers

I believe many people may be wow or fooled by Defence Minister Ng's exclamation that it is "illegal" for HK to impound our Terrex by the argument of "sovereign rights" over these war vehicles but anyone with that bit of common sense will see through the fallacy of such naive and illogical argument.

First of all, HK Customs didn't even know who own these military vehicles when it first seized them. They were acting on their own law that any shipping companies which are doing transshipment should follow, regardless whether these are sovereign assets or not. Thus, there is no illegality in HK Customs' action but ironically, the one which has breached HK law is SAF and the shipping company, where both failed to make declarations and apply for proper permits.

Our Defence Minister has aggravated the situation by making such unfounded accusation. Instead of lowering the tension, he has instead heightened it! Imagine if you were the Chinese government or HK authorities, instead of having Singapore admitting that they have done wrong, you are being accused of acting illegally! How would you feel? Will you return the Terrex? It is no wonder that such irresponsible and untactful speech by our Defence Minister drew sharp retort and warning from China by saying, please watch what you are saying! Basically, the actual diplomatic message behind is, please stop talking cock!

So I guess our Defence Minister is not interested in getting back these Terrex at all but his only aim is to justify that he and his Ministry are not in the wrong!

If our Defence Minister is really interested in getting back the Terrex or at the very least, want to diffuse the tension, he should have put it in a more a tactful way.... let me teach this undeserving overpaid Minister how to talk skillfully....

"I believe it is a great misunderstanding between us and HK that resulted in the seizure of these military assets. There is a gross oversight on our part in working according to HK law but I believe we have sovereign ownership of these military assets, unlike any other cases of military transshipment. I hope that both sides could resolve these issues amicably...."

The above speech would convey the same message of sovereign rights but at the same time, give enough space for both sides to work out a resolution.

The second point is that having sovereign rights over these assets doesn't give you immunity from not abiding local law. For example, as Alex Au had agreed with me, if a country tried to send massive military weapons to a terrorist organization to carry out a war against another sovereign country, do you think your claim of sovereign ownership will work? This is a real life situation whereby the Americans or Saudi or other countries are sending arms to those terrorist groups in Syria!

The third point is, apparently this is more of a diplomatic issue rather than just a legal issue. But our undeserving overpaid Foreign Minister has instead tried to play it down by shifting the focus to legal issues! This will further agitate China and in the end, the problems may not be contained within this Terrex issue but may just escalate into some other issues later on. Please bear in mind that Singapore has over $100 billion investment in China!

It is apparent that China is not satisfied with our Minister's assurance of adherence to One China policy. However we cannot succumb to its demand of cutting all our ties with Taiwan. This will need, first, a show of commitment more than just reciting the mere mantra of One China policy. We need to add to that although we have military training in Taiwan but this is not a support of Taiwan's Independence movement. This is purely a move to meet our own military training needs. At no time will we support any Taiwanese attempt to declare independence from China, neither in diplomatic nor military terms. We are all for a peaceful progressive development of One China diplomacy which we have contributed in the past and will continue to support in the future.

By putting up such assurance and reminding China that we have been working and contributing towards the One China policy will in fact, subtly enhance our position that we need to maintain ties with Taiwan in order to continue to contribute towards this role.

Both our Defence and Foreign Ministers have failed badly, epic failure in fact, in handling this Terrex diplomatic crisis. Of course, the biggest culprit is our PM Lee who has ignored all well meaning warning from everyone including opposition of his dangerous diplomatic stunts against China.

While Singaporeans should stand up against big countries like China or US if they assert unreasonable demands, but we must also realize that all these could have been dissolved or avoided totally if we have more competent Ministers instead of these current undeserving and overpaid Ministers.

Goh Meng Seng

Supplementary input from a FB friend:

Fact

1) Ship manifest does not reflect armoured vehicles exist on ship. It is the same as smuggling, undeclared goods.

2) Military goods must have special permit to transit. Plus standard Export Control declaration, as required by international shipping law. Since there are no documents, means special permit not done. Export Control declaration not done.

Terrex armoured vehicle is being smuggled on the ship. Breaking Taiwan law, Sinkaland law, China law, HK law and international shipping law.

Could any white supporters please tell me which country would consider smuggling armoured vehicles without documents as legal ???