Serious PAPpy Govt has gone Rogue..Dip into Reserves Again

[SalahParking]

It was a storm in 2008/9, so dip into reserves.. convenient..Lucky no draw, QE saved us..

So the SGD system added more debt, more corporate debt,..

So storm again, dip into reserves, unparalleled,..

Debase the SGD, print, print, print...

PRIVATISE PROFITS and SOCIALISED COST

 

[nayr69sg]

It was a storm in 2008/9, so dip into reserves.. convenient..Lucky no draw, QE saved us..

So the SGD system added more debt, more corporate debt,..

So storm again, dip into reserves, unparalleled,..

Debase the SGD, print, print, print...

PRIVATISE PROFITS and SOCIALISED COST

SGD$ collapse is nearer! My dream!

 

[laksaboy]

Sinkies need to understand that they're 'dipping' into the reserves to preserve their own interests, which has nothing to do with the ordinary Sinkies.

But naturally, the media presstitutes will present their nation-building narrative.

To use Tiong speak: 权贵阶层的利益 > 草民的利益

 

[laksaboy]

It was a storm in 2008/9, so dip into reserves.. convenient..Lucky no draw, QE saved us..

So the SGD system added more debt, more corporate debt,..

So storm again, dip into reserves, unparalleled,..

Debase the SGD, print, print, print...

PRIVATISE PROFITS and SOCIALISED COST

I remember that the Sinkie dollar is pegged to a very secret 'basket of currencies'. Naturally, if some of those currencies go kaput, the Sinkie dollar will be affected too.

The identity of that 'basket of currencies' is a highly classified secret, not unlike Ho Ching's remuneration and the identity of certain FT criminals when their crime is reported on the news.

 

[Papsmearer]

It was a storm in 2008/9, so dip into reserves.. convenient..Lucky no draw, QE saved us..

So the SGD system added more debt, more corporate debt,..

So storm again, dip into reserves, unparalleled,..

Debase the SGD, print, print, print...

PRIVATISE PROFITS and SOCIALISED COST

Dip into simi lancheow reserve? You know reserve got how much or not? I don't. When OTC tried to find out, they told him cannot, must take 52 man years. There has never been on single govt document published as to how much is in the reserve, where they are kept and in what form. Dip what?

 

[bobby]

Singapore President Halimah Yacob has given her "in-principle" approval to draw on past reserves. The country is facing what she's called "a crisis unparalleled in modern history". Singapore has only drawn on past reserves once -- during the global financial crisis in 2009, when a $4.9-billion draw was approved. Mdm Halimah also said she has reviewed the proposal with her Council of Presidential Advisers.

 

[SalahParking]

unparallled my salah foot.

1918 Spanish flu
1929 Great Depression
1941 Ww2
2001 911
2003 SARS
2009 Fin crisis

All Chee Byes, never learn, caught offguard, naked, complacent...KNN

 

[SalahParking]

I remember that the Sinkie dollar is pegged to a very secret 'basket of currencies'. Naturally, if some of those currencies go kaput, the Sinkie dollar will be affected too.

The identity of that 'basket of currencies' is a highly classified secret, not unlike Ho Ching's remuneration and the identity of certain FT criminals when their crime is reported on the news.

Its not secret, its trade weighted..so its a derivative of a basket of derivatives...

what happened to our gold?

 

[laksaboy]

Its not secret, its trade weighted..so its a derivative of a basket of derivatives...

what happened to our gold?

https://www1.oanda.com/currency/iso-currency-codes/SGD

Singapore pegged its dollar to British Pound Sterling until the early 1970s, then to the US Dollar for a short period of time. From 1973 to 1985, Singapore pegged its currency against a fixed and undisclosed trade-weighted basket of currencies, reflecting its diversified trade links.

From 1985 onwards, the Singapore Dollar has floated within an undisclosed bandwidth, closely monitored by the Monetary Authority of Singapore (MAS) to guard against imported inflation and ensure that Singapore's exports remain competitive.

 

[SalahParking]

it's still pegged to the basket of trade currencies, they manipulate it by buying and selling in the forex mkt. The weight changes all the time, they don't disclose because people like soros can launch an attack if they know your book.

The band is well known S$NEER slope, up and down the band

MAS has trading desks in LOndon, New York, Tokyo to play the market...just hope they put the right bets and not blow up like BARINGS.

 

[mojito]

I remember that the Sinkie dollar is pegged to a very secret 'basket of currencies'. Naturally, if some of those currencies go kaput, the Sinkie dollar will be affected too.

The identity of that 'basket of currencies' is a highly classified secret, not unlike Ho Ching's remuneration and the identity of certain FT criminals when their crime is reported on the news.

Secret? You can add the yen and euro in addition to us dollar. Pretty much trade weighted. Since many peg to dollar, it is biggest component. It is not like pre EMU days when u got the mark, franc, pound etc. Still nothing a spreadsheet can't handle.

 

[SalahParking]

what we don't know is the demand volume of SGD. If my calculations are right, the demand outstrips supply, because many people launder billions into SGD...then actually I the MAS is trying to constantly manipulate to lower the value to remain competitive, so that your currency doesn tremain too strong.

But with the covid, all hell broke loose, galang gabok. Caught naked.