Thursday, September 25, 2008

GIC? Whose Money is it anyway?

I read Esther Fung of Today's Hot News // Wednesday, September 24, 2008 GIC eyes distressed US assets.

Pardon my cynicism, but who's money is it anyway?

It's much ado about nothing

If my English serves me correctly, sovereign brings to mind king, queen and royalties. In this little red dot where the sovereign virtue is nothing but greed and despotism, the sovereign wealth (actually bloody taxes, GST, ERP, CPF and HDB and other payment from the people of Singapore) ends up all over the world including some in a football club in Manchester City which went from Thailand to Middle East now :)

Talk is cheap and posterior protection is the name of the game and nobody will tell you how much of SWF has gone into Lehman Bros and AIG? Too bad, with our opaque transparency, we'll never know.

"But these are long term investments" - Another case of "chui kong lumpar song" (mouth talks, testicles feel good). We are having the "golden period" too! Yes, bloody bleeding like crazy for Singaporeans! Some blokes are losing their pants from previous investments and some will lose their jobs too!

Money in GIC
Money in Temasek
Up or down
Makes every Singaporeans (except Sovereign Singaporeans) clowns!

It's never ours
It's never our children's nor grandchildren's.
It's just sovereign funds
For sovereigns to play with!

Why sweat over it?

Much ado about nothing!



At September 25, 2008 at 11:02 AM , Anonymous Anonymous said...

You are right to ask.
I believe the citizens should ask President Nathan to ask the Lee Family, because he himself has no clue.
I am sure Nathan is glad that he was not given any responsibility, except to think of more ways to spend his paycheck.
Having said that, we cannot expect Nathan to do the asking because we guys did not elect him in the first place. WTF !

At September 25, 2008 at 11:20 AM , Anonymous Anonymous said...

One thing 4 sure the gov will try ways n means to keep our CPF money for longer period so to plug the big hole caused by the huge loss in the recent investments. So expect less money to be drawn when reaching age 55.

At September 25, 2008 at 11:37 AM , Anonymous Anonymous said...

Feed Me To The Fish,
forget about these gullible people because majority of singaporean are stupid people.

Just because MSM and news did not explicitly state GLC/Temasek invest in Lehman bro does not mean they did not invest in it. Did people forget that there are such thing as 3rd party ? How's about ShinCorpse which Temasek use a third party and try to cirumvent the law ?

It is the same here, by using third party instrument to do investment so that no one will find out and question about it. People only believe what they hear and see.
Now CPF goes into MAS and back to Temasek for investment ? Yeah, CPF don't go to Temasek after all, My foot ! Gullible and Naive Singaporean.

People want evidence ? Only stupid people ask for evidence when there is a serious lack of transparency and accountabiliy in gov.

Feed these Singaporeans to the Shark to wake them up

At September 25, 2008 at 1:37 PM , Anonymous Anonymous said...

Does anyone know how much are the reserves in GIC/Temasek? I know the guy in the Istana is working on it over the last 10 years or so. But the recent excuse is that they cannot reveal the size of the reserves because it is of national security concern. So, nobody knows how much are the reserves, and in the same tone, some day, nobody knows where or what happened to the reserves.

At September 25, 2008 at 5:07 PM , Anonymous Anonymous said...


Whose. Not who's.

At September 25, 2008 at 5:14 PM , Anonymous Anonymous said...


whaz izzit to you? made you cleber meh? you cleber, take ober MM place lor. hehe

At September 25, 2008 at 5:20 PM , Anonymous Anonymous said...

Looks like things are catching up very rapidly with this govt. The USA needs something like 700 bil US$ to calm the market. Whatever money GIC and Temasek have invested, would have been swallowed up and worth only a fraction of the original value. Now we have the DBS high notes saga. This will wake the citizens up for trusting this damned govt too much.
I only feel sorry for the 33.4 %.

At September 25, 2008 at 5:22 PM , Anonymous Anonymous said...

Perhaps they should rename sovereign funds to.....sovereign fun instead?

At September 26, 2008 at 1:02 AM , Blogger FeedMeToTheFish said...

Hi Haiz,

Thank you for your visit and helping me with my English. I stand corrected and now it's Whose instead of Who's.


At September 26, 2008 at 9:27 AM , Anonymous Anonymous said...

bloggers who are clamouring for MAS to act on DBS high notes have got it wrong.
Check out the management board of DBS - you can't touch this.
And if GIC and Temasek holdings make any mistake - you can jolly well try to put the management board to task - sorry, even CPIB reports directly to PM office - (or MM?).

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