Singapore's Reserves???

There's been so much talk about Singapore's reserves that I begin to seriously wonder what animal this "reserves" is all about?

What are "reserves" made of?

Are "reserves" real?

What's the worth of "reserves"?

Who actually control "reserves"?

Is the Singapore President protecting "reserves"?

I think it's time for me to get real to know what I don't know.

If it was such a hassle to draw down $4.9 billion (needing President's approval and all that jazz) in "reserves" (past or present or whatever) why was no approval needed for GIC and Temasek to mess around billions as if it were monopoly game money? While 007 James Bond is licensed to kill, is GIC and Temasek licensed to burn money like hell notes?

With all the clever reasons as to why we are not supposed to know since 2001 (read here), I've come to accept the fact that we'll never know. The bright side to not knowing is it hurts to know that 'reserves' have been treated like pokers chips being played by gamblers of "unflinching integrity" with no regrets. View video here.

Lehman Brothers collapsed. "Reserves" staked at AIG, Merrill Lynch, UBS, ABC Learning, ShinCorp, Citigroup have either tanked or declining like crazy. Will GIC and Temasek tank too?

Reserves? Not knowing is best.

Ignorance is bliss.

It's so sad that having been the Special Advisor for Citigroup for less than 3 years, MM Lee has to see Citigroup take such a free fall. Read here. It's good to know that he's able to see the light in 10, 15, 20 years according to CNA here

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