The HDB/CPF Scam – How the PAP perpetrated the biggest swindle in modern times

[winnipegjets]

Does this mean that they actually started off with the intention of trying to make the lives of ordinary citizens better, by helping to provide housing which was reasonably priced?

But as tiime passed, they got more and more materialistic and the ordinary citizens paid the price?

If this is so, looks like the majority of the old guard leaders had good intentions when they started off. Gradually, most of them either retired, resigned or passed away and were replaced by new leaders. Seems that these new leaders were identified and selected by the old guard member(s) who stayed on. Now trying to figure out who stayed on and selected these new people. Thinking now .........................................

LKY is the culprit. He was held back by the old guards ...as the old guards went away, LKY got a free hand to do as he pleases.

 

[ILovePAP]

Added to ypur points...a very good piece ...

 

[chonburifc]

Yes, that's what he meant. Not sure if it includes accrued interest.

http://mycpf.cpf.gov.sg/CPF/my-cpf/buy-house/CPFHousing_Leaflet.htm

Hehe thanks bro. Yeah. Hdb Sibeh bluff people rite? Tell people to buy buy buy pigeonhole, no money never mind can use cpf. Everyone think so swee. Pay and pay until want to finish liao then sent one letter say balance cannot be paid with cpf. Cash only. Knn. Then in the first place why allow cpf to pay for pigeonhole?
.
Next accrued interest. Many bros already explain in detail liaoz lah. My ah beng version is, knn, ask me to pay interest for using my own money? Knn, ok? Do thief also don't do until like that.

 

[ginfreely]

50 to 75 percent of the returns earned by Temask or GIC should go to CPF accounts.

that is right, we should be compensated in a more equitable manner. In Australia, their cpf allow people to self manage their own funds for better return, if our cpf cannot give higher return than 2.5 perecent they should follow the Australia method..

 

[Papsmearer]

A good post, PAPsmearer.

Thank you.

 

[Papsmearer]

Does this mean that they actually started off with the intention of trying to make the lives of ordinary citizens better, by helping to provide housing which was reasonably priced?

But as tiime passed, they got more and more materialistic and the ordinary citizens paid the price?

If this is so, looks like the majority of the old guard leaders had good intentions when they started off. Gradually, most of them either retired, resigned or passed away and were replaced by new leaders. Seems that these new leaders were identified and selected by the old guard member(s) who stayed on. Now trying to figure out who stayed on and selected these new people. Thinking now .........................................

When the PAP first started out, there were a lot more opposition. Their control of the country was not as solid as it is today. So, when they started this HDB housing scheme, they could not screw around with it. Gradually, they jailed oppos, and consolidated their power, and it enabled them to start exploiting sinkies for real. The old guard was in it up to their eyeballs with Lee Con You. That dead fucker Goh Keng Swee probably thought up half this shit.

 

[Papsmearer]

Yeah the govt should pay higher interest rate than 2.5 percent for our cpf savings...

about the 99 years rental agreement, i think not really a bad deal considering other countries like china only have 70 years..

70 years lease in China is a leasehold. The land is leased from the govt but the building is owned by the people who have bought there. In Singapore, the 99 year is a lease. A long term rental, they own nothing. Big difference.

 

[Papsmearer]

Yes. Indeed. I wish i could up him more. This is the type of post i like to read. Enlightening. Will not get such info from ST for sure.

Thank you. This is why I prefer Sammyboy to post as my thoughts can be downloaded immediately. Shit Times is useless for sure and in fact makes it worse by contributing to the con job and smoking Sinkies into thinking they "own" their flats.

 

[Papsmearer]

Sibeh long story. Read until headache. 3 words "Sinkies are FUCKED".

Yes, everyone knows they are fucked. But some people like to find out the manner in which they are fucked, right?

 

[Papsmearer]

50 to 75 percent of the returns earned by Temask or GIC should go to CPF accounts.

Yes, that is a fair social contract. And it will really light a fire under Temasek and GIC. It really makes them have to perform. Right now, they lose billions $ and there is no accountability.

 

[Papsmearer]

LKY is the culprit. He was held back by the old guards ...as the old guards went away, LKY got a free hand to do as he pleases.

No way, the old guards were all responsible too. Part and parcel.

 

[winnipegjets]

that is right, we should be compensated in a more equitable manner. In Australia, their cpf allow people to self manage their own funds for better return, if our cpf cannot give higher return than 2.5 perecent they should follow the Australia method..

The CPF was intended for the PAP to get cheap money. There is no way the PAP will let people take charge of their money.

 

[winnipegjets]

No way, the old guards were all responsible too. Part and parcel.

I won't disagree. I was just been generous to the dead souls.

 

[winnipegjets]

Thank you. This is why I prefer Sammyboy to post as my thoughts can be downloaded immediately. Shit Times is useless for sure and in fact makes it worse by contributing to the con job and smoking Sinkies into thinking they "own" their flats.

I will up you when I can. Keep sharing your thoughts.

 

[scroobal]

Excellent piece bro. Great write-up.

And Yes in the early years the flats were affordable. Lim Kim San born with a silver spoon, one of the wealthiest minister in the first cabinet understood those in the lower income band of Singaporeans and did a decent job. He was one of those who went out of his way to remove middlemen and reduced the coset base so that he sell it at a more affordable price.

We all know the govt. runs various scams. There is COE, ERP, GST, etc. However, their most profitable scam by far is the symbiotic relationship between the HDB and CPF. This axis alone is responsible for the greatest wealth transfer swindle in modern history and the draining of entire generations of hard earned Singaporean savings.

Background

Once upon a time, when HDB was first started in the 1960s, flats were really sold at close to cost and followed the model of true subsidized housing. In the 1970s, flats were sold on a cost basis, in other words with no mark up by the HDB. You could buy 3 room flats for as little as $15,000 and 5 room flats were $30,000. In the 1980s, HDB started to include land costs into the pricing, for what reason, no one knows as HDB dwellers do not own the underlying land. Prices than when as high as $140,000 for an executive flat. In the 1990s and 2000s, we saw the start of the sharp rises in price when HDB went to a construction cost plus “market “ price for land valuation resulting in the $400,000 plus flats you see today. We will exam the reason for this later.


Copyright PAPsmearer 2014

 

[tanwahtiu]

see lah, it is same as buying pirate copy software. It is OK to buy pirated software it is ok to buy pirated HDB leh .... hehehehe.

Buy one original MS windows (land) and rest pirated copy software (blangal workes, cheap materials, cheap labours) and expect MS company to fix your PC problem caused by pirated copies?

See lah, kenna fixed by pirated PAP jia bei siow!

kee siow leow ....

Hehe thanks bro. Yeah. Hdb Sibeh bluff people rite? Tell people to buy buy buy pigeonhole, no money never mind can use cpf. Everyone think so swee. Pay and pay until want to finish liao then sent one letter say balance cannot be paid with cpf. Cash only. Knn. Then in the first place why allow cpf to pay for pigeonhole?
.
Next accrued interest. Many bros already explain in detail liaoz lah. My ah beng version is, knn, ask me to pay interest for using my own money? Knn, ok? Do thief also don't do until like that.

 

[tanwahtiu]

So we know what to do at LKY funeral wake and possession on the way to his burial place.

Get ready with bad eggs, bags of spoilt rubbish to throw at his coffin or road leading to his burial?

Does this man reserves your respect?

Wah lau, u can read so fast? Your english must be powderful!!

 

[tanwahtiu]

Simply, LKY felt betrayed when he lose supports back in the 1984 GE.

Why there was no residents there to see him speak at the rally? Too lan he saboed you high and low using HDB which he build for you?

Excellent piece bro. Great write-up.

And Yes in the early years the flats were affordable. Lim Kim San born with a silver spoon, one of the wealthiest minister in the first cabinet understood those in the lower income band of Singaporeans and did a decent job. He was one of those who went out of his way to remove middlemen and reduced the coset base so that he sell it at a more affordable price.

 

[tonychat]

Sibeh long story. Read until headache. 3 words "Sinkies are FUCKED".

This shows yet again what a good PM LHL is.

I would like to take this opportunity to congratulate him and his team for a job well done.

 

[AhMeng]

Leongsam should give TS a medal..
excellent article!