Even in family, the spouses and siblings and children ALSO DO NOT REVEAL ALL THEIR RESERVES etc. LMW and TCB and PSP, LAUGHING STOCKS, joke of the year 2024
People who want our reserve to be reveal have no idea what they are talking about. Why does Singapore have such a high Debt-to-GDP ratio which is even higher than that of US - and yet, we enjoy such a high global credit rating. Why is Singapore dollar so strong compared to many countries in the region and globally. We have already prudently utilized the proceeds from our reserves in our annual budget. Understand the basics before clamoring for changes which may endanger our strengths. Once lost, this financial strength would not be easily recovered! We have many experts in our MOF, MAS, etc., who painstaking safeguard and grow our reserves. Don't make all their hard work over the years be in vain.
There’s always more than 2-sides of any story. Secrecy to defend potential attack OR too much to hide… high global ratings is only until that day it falls bcoz of hiding too much for too long… A currency can be high or low, only the ignorant uses strong or weak for marketing agendas… the basis is sgp was growing from within in the past, these days r more like inflating for higher numbers… when the stakes r high, like now, the more we need to review n fine tune instead of dragging n hiding until a full burst. I agree that once lost, it will be difficult to recover…
@@marktn9851 Have you forgotten or simply not aware how the 1997 Asia Financial Crisis occurred? How and why they spread so fast in Asia, but not in Europe or US? How corporate speculators and short sellers can have the muscle to bring down so many countries' economy? If you think that these blood thirsty, greedy speculators and short sellers play fair, you are very mistaken! Once they smell blood and know a country is weak economically, they will hunt in packs, and profit from your economic demise. Singapore does not have a large hinterland that can support us if our forex is attack and our external trade compromised - unless we have a strong reserve to outlast them. It's like a poker game. If I have enough money in my bank and knows that you don't, I can always outbid and outlast you if you dare to challenge me!
PSP and WP are worse than real fools, they are snakes acting like fools, even more cunning. Just want to be populists and say ostensibly noble ideas, but foolish and unrealistic ideas only to sound good to voters
Stupidity to the max to reveal all your cards. Who in the right frame of mind will reveal how much one has. We do not even reveal our pay, come on! This is the type of opposition we have.
There is nothing to touch all in paper statements only no need gurka police also all money gone Gamble by temaselk and give even ur cpf and my cpf all gone
It is crucial that this LMW starts taking responsibility for their actions and decisions. They must think critically and consider the potential consequences, not just for their current political game but for the future as well. It is imperative that they use their brain and act responsibly.
Why is the opposition bringing up the issue of Singapore's reserves over and over again? The 50 :50 use of the NII from the portfolio makes perfect sense. Need to have the discipline in current spending and in investing the reserves for the future as well. Further, disagree that the size of the reserve should be revealed.
Mr Leong, conveniently ignored a raid by George Soro on Singapore Dollars. You cannot treat our money like in a poker game where opponents can see how much you have on the table.
We have many George Soros in pap because own self check own self look at iswaran case and goh Jin hian all SCANDAL temaselk and give gamble all our cpf and give us instalment payment
However you weasel your way, the truth remains. Where is the Accounting Truth. What are you basing when you support Reserves secrecy. You are clearly basing on Believing and not accounting truth. You are a danger to singapore
George Soros no need to raid on our Singapore dollars our leaders have finish it so nothing left to raid all papers only no need gurka police to guard even cpf building no gurka
@@LonganLee alot of wayang about reserve all kaki NANG own self check own self cpf also no money they give me 410 dollars every mth everyday eat roti prata but courrpt iswaran was paid 8500 even no work and now runaway officially
The opposition's call for the softer option of drawing more on the reserves to alleviate the current pervasive burden of ever-rising cost-of-living is not good for this generation of young adult workers. They will develop weak backbones in their formative working lives. The key is to be hard-nosed, develop grit, build resilience, stay nimble & flexible, and adopt a never-say-die attitude in life. We will breakthrough and overcome the odds eventually. There is a solution to every challenge. We just have to find it!
PM LEE getting wori and scared he can't form the next government pap don't have any good new face all like chee hong tat come in few days only lost 40 million
@@bobguard the sinking ship will be save by coming g e wit more opp in parliament even pap redraw the boundary like shift goal post in their favour still no chance to win majority
My children do not know how much asset and money that I have. They will only find out after I pass on. I apply the same logic to N R. Yes, I agree not to reveal it.
@@jtl2268 For Foreign countries, revealing our reserves is like revealing your cards in a poker game. People who thinks we should reveal reserves are not seeing the big picture that SG is constantly playing a game of poker with others countries.
Mr. Leong and Pritam Singh might want to read Lin Suling's article in today's ST titled "Jostling for foreign investments: The era of easy money is over" to fully appreciate Singapore's position and why its reserves need to be tightly controlled and expended wisely; instead of living in a bubble.
No one is disagreeing what is good. Everyone is merely saying, do you know the Accounting Truth? If the largest "bank" can be based on Belief, all Accountants should be sacked
What you uttered in no way justifies the Secrecy because you are not basing on Accounting Truth. If so, you are basing on Belief. I not alluding to 4MDB😅 you want to debate, you need to have substance
One point that OP raised : Reserves are being accumulated at a faster rate than necessary: I'd say Increase gold reserves for incoming crisis. substantial portion of reserves might be used up to tide us over the global hardships. Just like in biblical times when Joseph diligently collected all the excess food in the land of Egypt and stored it in various cities for 7 years. This strategic preparation allowed Egypt to withstand the subsequent 7 years of severe famine, ensuring that there was enough sustenance for survival during those challenging times.
Since Mr LMW is of the opinion that their PSP policies are better than the PAP's and are backed by his explanations and rationale for his decisions, then I don't see there are any good reasons on the part of pap to reject them.
Why the Oppositions seems to be dictated to as to what not to say as alleged: QUOTE : "If any other political party thinks that this is not the right approach, if they truly believe that we should dip into our reserves more, then bring it to the ballot box. Put it upfront. Say you want to touch, you want to spend, you want to shift the rules. Don’t pretend that you’re just as prudent, only more kind-hearted." UNQUOTE
No way they are going to disclose it.If they want to do it,they would have done it years back.She have some point that the reserve is going to be for our Singapore stradegy, there are secrecy to doing business,partnership and so on.There only be more doubts and questions if they are going to disclose it.Hopefully there's always adequate payouts to benefit our citizens.
Problem is people don’t want to put their money into gov pocket anymore. The investment money not going into our pocket directly. That’s the problem. Unnecessary rise of Gst.
Our forefathers were poorer yet they were able to create a reserve but it is ashamed that the present generation encountered such high cost of living even critically.
It's very easy to touch on the reserves. Soft option. Try to return the same amount expended in good times and build up at the same time. Not easy to.put it mildly.
With the increase in GST, the coming carbon tax, water tax, property tax and whatever still think the Reserve is healthy? Giving temporary cash and food stamps is an enticement exercise to the gullible.
seriously those asking to reveal reserves either act blur or what. if u buy a $40 fish from a fishmonger and you tell him u have $100, its obviously the fishmonger not gg to give u a discount since he jolly well know u can afford it. these people r sad 😢
Singapore will go downhill once we lose trust in the government and are not united. How come people who keep asking to know the amount of reserves Singapore has dared not challenge Lky back then? I don't care. I am only concerned about building my own reserves.
How easily and how often they are surprised and shocked by what the Opposition has to propose in Parliament! It’s as good as saying how come you come up with something so silly. It’s their House and they call the shots so what can you do?
I believe it is nonsensical to compare the past and the present. In the past, a person can still have surplus with a $90pm salary but at present, even with a $2000pm salary, he or she could not even make ends meet. So don't compare the past that they could afford to raise a national reserve whereas now some members are requesting for spending national reserve surplus or incomes derived from the existing reserves.
I really dk why the opposition want to know how much the reserve is. The best time that the govt has shown that the reserves are well-kept is during COVID. They are basically dumping money out. And SG is one of the first countries to get access to the vaccines, which is basically cos we smashed them with money. So overall, although recently PAP's conduct are less than desired, I have 100% faith in our current govt's approach in handling our reserves
What's important singapore had changed to a multi-nation country (multi-nation-singapore) so even with the saf soldiers also no use, it's the pap party mistakes and there's no way to u-turn back.
as i have mentioned in cna’s video yesterday night. Leong mun wai is just too short sighted. If u expose the reserve to everyone, what will happen next is 1) most of everyone (Singaporean) might be eyeing the reserve in every budget, complaining why gov never give out more money since reserve got so much. 2) putting Singapore into demise as other country will take advantage of this and if any goods sold to Singapore, they will be thinking that Singapore reserve got so much, sure can spend. Once again. LMW, u should be out of the parliament, reason why, watch the video in cna which I have commented.
Why not put it to a vote by Singaporeans whether the size of the reserve should or should not be disclosed since the reserves belong to peoples of Singapore?
Also people said the pap party holding all the money and own self collect own self 's highest pay, etc.but only gave singaporeans a little money the pap party call helping the people.
😂 last time also emphasised with prudent spending gst will not be increase mah? Well all asking for reserved values in details, can’t provide due to secrecy then least just provide is it in a good health or in bad health 😂😂. Least assurance perhaps for the masses😅
I disagree the assumptions Indrenee has. Psp is asking for transparency so we know the movement of gov funds. What I disagree with psp is not transparency of fund is a double edge sword as it expose a security issue. We ourselves can be transparent but we don't tell the world how much we own in our bank. But point in question is true, how much savings is too greedy?
If it's known ,umno big guys will borrow money and won't return to singapore reserve . Our reserve must not be known ah leong. It is our secret weapon. We already have a dishonest iswaran who was an ex M. Who can you trust ? Psp ,please be smart.
In times of hardship, we should consider our current generation a priority rather than still putting aside so much more when what was set aside for future generations have already ballooning to a very gigantic sum. Consideration for the present crisis in high cost of living is more a priority than future generations which could more likely be able to take care of themselves. Surely it is not the Opposition harping on the idea of "raiding" past reserves which the PAP has termed.
Our current younger generation has it better than their older generation who were instrumental in building up these reserves, even if they had to slog it out in their daily lives to do so! We need to encourage the younger generation to toughen up and faced up to their challenges. The world doesn't owe them a living. Our reserve serves as a saviour of last resort - not to be squandered off frivolously! Lastly, looking at the current global economic situation and our budget spending trend, it will be increasingly more difficult in continuing to build up our reserves like in previous years. All the more reason we have to utilize it prudently.
During the 2008 financial crisis, things are a lot worse than now. If the govt chose to pour all the reserves to save that current generation, we probably wont have enough money for COVID. Many ppl complain about high cost of living now, but do they look at their own lifestyle inflation? I believe most ppl have enough money if they just stay with their parents and eat cai fan on most days (which is what I do)
Matters of public interest such as whether or not the size of reserves should be disclosed should be put to a referendum as all Singaporeans are stakeholders so far as concerns Singapore and its national reserves.
With due respect, I must say that few would agree with what the PM had said that "once gone is gone". It is not true. The Government is in a position to create a reserve as the State incomes are continually existing year after year till the end of eternity
How do you guarantee we will be forever prosperous ? And the times of great economic success in the past few decades has past given current geopolitical climate. There is a limit to our growth rate given our size.
Is that so? How did we build up the reserve in the first place? With SURPLUS from our national budget and earnings from PAST reserves. Looking at our current budget and the state of the global economy, it will be very difficult to depend on our surplus budget to do this. What if another pandemic hit again or we enter into another global recession (as many economist and leading investors are telling us that it is coming), and how long will they last before our reserve runs out? If we continuously draw down our reserve, how can we also rely on the earnings from profitable utilitzation of these dwindling reserves? That is why people who understand how these reserves were built says that 'once gone, it is gone'.
Please read up on basic finance (or math) first. E.g. we got 100 mil in reserves. If we lose 50% (50 mil), we need to gain 100% to return back to 100 mil.
Also people said nowadays the pap party already think the singapore reserves belongs to the pap party themselves, so the pap party don't have to tell how much there is.
If they shout “outright falsehood” and “raiding our reserves”, it means you have to be careful. You can challenge them but it’s no use, they are the referee and they can give you the red card.
Have you any concrete evidence or reasonable facts to suggest that this is being done. If not, anybody can claim anything under the sun and get away with it. Our society do not encourage accusations without reasonable cause or proof.
I disagree your statement as this is PAP money they gov who help singaporean citizens if you are unhappy then u do not need to leave in Singapore u do not need to be a singaporean citizen !!
No one says it PAP money , it's the money accumulated from all these years supposed to be safeguard and use by the ruling government which is currently PAP . If one day the majority of the citizens choose not to elect PAP , it will then be the other ruling party budget on how the money should be used. It is the CHOICE of the majority. Please respect that decision
