There are many self professed gurus all over in this world who can predict the currency fluctuations and stock market. They are called "fun" managers.
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Economic News
- Thread starter FHBH12
- Start date
There are many self professed gurus all over in this world who can predict the currency fluctuations and stock market. They are called "fun" managers.
My view on investment world is 大鱼吃小鱼。Acting with information(advice) from the 大鱼s or people close to them is the sure way of making money. Not sure these 大鱼s or their close associates are among people giving advice here.
Somebody very important may be getting into very serious trouble very soon.
According to Wall Street Journal today, U.S. is set to seize assets tied to Malaysian fund 1MDB.
When this happens, wonder how are they going to challenge against the seizure - very tough because he has to show that it was bought with own $$$$ and also proofs where the $$$ came from!!!!
It'll be a catch 22 for him, challenge also die, don't challenge also die.
http://in.reuters.com/article/malaysia-scandal-usa-idINKCN10009T
According to Wall Street Journal today, U.S. is set to seize assets tied to Malaysian fund 1MDB.
When this happens, wonder how are they going to challenge against the seizure - very tough because he has to show that it was bought with own $$$$ and also proofs where the $$$ came from!!!!
It'll be a catch 22 for him, challenge also die, don't challenge also die.
http://in.reuters.com/article/malaysia-scandal-usa-idINKCN10009T
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Feels very weird. Just yesterday, travellers to Johor/KL and those with vested interests in Malaysian properties were clapping and cheering at the HSR MOU between PM Lee and Najib. Now this Wall St news came out almost suddenly to say a HUGE $1billion is seized by US Fed prosecutors.
- Will the 1MDB saga have any impact on the HSR?
- How come US has the rights to take away money that is so far away in Malaysia? Who gives them the authority to do this?
- What will become of Najib?
Finally, the US Department of Justice filed lawsuits today seeking to seize dozens of properties tied to Malaysian state fund 1MDB, saying that over US$3.5 billion was misappropriated from the institution.
The lawsuits, filed in Los Angeles, seek to seize assets "involved in and traceable to an international conspiracy to launder money misappropriated from 1MDB".
Riza Aziz, the step-son of the PM, Najib, Jho Low and few others were named.
"The misappropriated funds were then used to purchase the Defendant Asset, as well as to fund the co-conspirators' lavish lifestyles, including purchases of artwork and jewelry, the acquisition of luxury real estate, the payment of gambling expenses, and the hiring of musicians and celebrities to attend parties," it added.
This time, the real show is starting.
http://uk.mobile.reuters.com/article/businessNews/idUKKCN1001GT
The lawsuits, filed in Los Angeles, seek to seize assets "involved in and traceable to an international conspiracy to launder money misappropriated from 1MDB".
Riza Aziz, the step-son of the PM, Najib, Jho Low and few others were named.
"The misappropriated funds were then used to purchase the Defendant Asset, as well as to fund the co-conspirators' lavish lifestyles, including purchases of artwork and jewelry, the acquisition of luxury real estate, the payment of gambling expenses, and the hiring of musicians and celebrities to attend parties," it added.
This time, the real show is starting.
http://uk.mobile.reuters.com/article/businessNews/idUKKCN1001GT
Wow... US$3.5 billion is a huge amount. I thought it was in RM which is already a lot.
Hard to believe.... seems so unreal. He just shook hands with PM Lee on the HSR!
(Read the article again. Najib is not named in the lawsuit. HE IS SAFE!)
If this thing goes on, it will definitely cause serious damage to the PM.
His step-son now has to show how he got those hundreds of millions of US$ for all his luxurious properties, movie production etc.
US has this KLEPTOCRACY LAW - Any government where officials who are politically corrupt and financially self-interested and most importantly, used USD and the US banking system, will be punished under US Law!
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Oh I see... Wow, powerful US law indeed!
If no satisfactory explanation can be given, I wonder if the money will be forfeited forever.
Wouldn't that put Malaysia in deep financial trouble? RM might drop even further! But I have a feeling Najib will somehow escape from blame or prosecution yet again.....
He is not home and safe yet.
Not named because those luxurious assets purchases in the US were not done by him while that famous RM2.6 billions were received in MY.
But as the case unfolds and all the dotted lines joint up, the source of the $$$, how the $$$$ got paid out, from where, who approved it, etc..........it'll only lead to one person.
What will happen to the seized money and assets? US is the real trouble-maker for creating the great recession, conflicts in other countries and monsters like ISIS.
Why you call US the trouble-maker? If you are a Malaysian, you should be pointing finger at Mr Najib instead. He is the real culprit!
US has every right to prevent their US$ from being laundered around in US. The seized money will be returned to Malaysia, by the way. It's the tax money you guys have been paying!!!! Won't you feel angry it's used to finance some corrupted people's lavish lifestyles?
I think many at this point in time are feeling admiration with the Malaysian PM due to the recent signing of HSR MOU. Interestingly, before that, many more were slamming Najib. After the signing, the Malaysian property investors were all praise for the "good relations" between Lee and Najib.
I think better get back to reality guys! Know thy enemy!
Buckle up, guys! Are you ready for the roller coaster ride???
http://www.malaysiakini.com/news/349261
http://www.straitstimes.com/world/u...ia-state-fund-1mdb-as-private-bank-account-us
The US was probably waiting for the HSR signing to go past first before revealing this. That was the calm before the huge storm ahead!
Prepare for the RM currency to spiral down further! Maybe S$1=RM3.5???
Prepare to see Najib in handcuffs in time to come! He's a sly fox that is so hard to catch as he has covered his tracks really well. This is one corrupt official who can write a book on how to corrupt and yet not be caught!
Let's see how this affects the HSR and investors' sentiments in time to come.
http://www.malaysiakini.com/news/349261
http://www.straitstimes.com/world/u...ia-state-fund-1mdb-as-private-bank-account-us
The US was probably waiting for the HSR signing to go past first before revealing this. That was the calm before the huge storm ahead!
Prepare for the RM currency to spiral down further! Maybe S$1=RM3.5???
Prepare to see Najib in handcuffs in time to come! He's a sly fox that is so hard to catch as he has covered his tracks really well. This is one corrupt official who can write a book on how to corrupt and yet not be caught!
Let's see how this affects the HSR and investors' sentiments in time to come.
The U.S. Department of Justice filed a civil lawsuit Wednesday attempting to seize $1 billion of those assets -- the amount that went through American banks.U.S. Attorney General Loretta Lynch said the federal government is not yet ready to bring criminal charges against the financiers. Instead, prosecutors want to seize assets as soon as possible.The lawsuit names at least three top players Jho Low, Riza Aziz and Khaled Abdullah of UAE. http://money.cnn.com/2016/07/20/news/wolf-of-wall-street-malaysia-1mdb/index.html
It looked as if US is after the assets only. And that too is not to file criminal charges yet. And why is Najib not named? Same goes for Singapore, Swiss, Hong Kong investigations. All are charging their own people and crimes committed in their own country and everywhere except in Malaysia. Knowing all these cases, it will take years before the real culprits are finally jailed. By that time the HSR is already up and running.It looked increasingly like an eye wash to me.
Najib is not named because he has managed to cover himself extremely well. If he can't even be caught in Malaysia, how to do so by foreign countries? Even Dr M is helpless and I can sense his frustration with Najib! It's so glaring who is the mastermind behind all this corruption.
Getting the money back is more important for the US now. Money laundering is a no-no. I'm not an expert but I somehow think if such dirty money becomes so easy to slip into the US, it will only encourage others to do so. And I believe this will have undesirable impact on the US currency and economy.
As for HSR, we can only wait and see. It's a very long 10-year affair at least. Anything can happen. Expect the RM to drop further as the 1MBD saga deepens and investors lose confidence.
Damn...it is a civil law suit filing.
The US is acting under the KLEPTOCRACY LAW - Any government where officials who are politically corrupt and financially self-interested".
They can act because the "loot" was in US$ and the US banking system was involved and those ill-gotten $$$ were used to buy valuable assets in the US, and these they can seize!
However, the US is playing Justice Bao under this act, which is good, because the law in that country involved is doing little or nothing to act or stop the looting.
All the seizures by the US will be return to the country and its people after punishing the culprit.
Riza Aziz was named.
He is the step son of the PM.
In the US statement, an unnamed person "Official 1" in the scandal was described as related to "Official 1".
Finally, investigations within the country on the scandal had already came to a standstill and also think, who has that authority to mastermind such a mega scandal and to divert billions of US$ out of the country without any resistance .............you go and guess.
However, this 1MDB episode may become someone's waterloo.
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Watch this video and listen carefully to the charges in detail initiated by the US Justice Dept against 1MDB.
I'm sure by now, they already have all the evidence to back their actions.
How to run away this time?
https://youtu.be/31j0OB0OBoM
I'm sure by now, they already have all the evidence to back their actions.
How to run away this time?
https://youtu.be/31j0OB0OBoM
You mean "Watergate"?
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