You need to acquire approval to another country's citizenship before you can renounce your current citizenship.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
there goes our cpf! is this report real??
- Thread starter leetahbar
- Start date
You need to acquire approval to another country's citizenship before you can renounce your current citizenship.
Which obviously is not easy for man on the street but chicken feet for the wealthy
Obviously. The classic hostage dilemma for common folks. You can afford to acquire another country's citizenship with your CPF money. However, you have to acquire the citizenship first before you can get to your CPF.
This was extracted from an article written by someone calling himself John Harding who in my view (sorry for the rudeness) is either an incompetent bafoon or a deceitful twit out to misinform. Why so ?
It is true that Singapore's national debt is US$254b as reported by Fortune Mag. BUT, the write failed to realise (or deliberately ignored) the assets/reserves of the Singapore government which is way more than US$254b.
Based on publicly available information, Singapore's reserves with MAS amounted to US$242 billion as at June 2011. Reserves invested by Temasek Holdings was valued at S$193 billion (or about US$161 billion) as at March 2011 as audited by KPMG. Only the reserves invested by GIC is not publicly disclosed (so it's not true that we don't know anything about our reserves). Most estimate GIC's holdings to be well above US$100 billion. So adding all of this (and assuming a conservative US$100b for GIC), we see that Singapore's reserves are at least US$503 billion, way in excess of the national debt of US$254 billion !
Based on CPF website data, the government only owes a total of about S$198 billion in CPF monies (a large part of the 'national debt')to about 3.36 million contributors as at June 2011. The Singapore government has enough reserves to pay back every single dollar of your CPF if it had to.
We might not agree with the government's CPF withdrawal policies but one thing we can be sure of - Singapore has a very strong reserve position. So it's absurd for John Harding to claim that "Singapore has no sovereign wealth". Like I said, he is either a bafoon or a liar, there is no other way to say this.
the wealthy do not ve to worry about their cpfs. they are definitely peanutz to them! it's the common folks who are neither up or down but are being hung by their neck - almost choking but won't die fr suffocation. those are the ones who are going to feel the bites.
the impression now is that the pap goofs and mismanage our cpfs but still keeping everything concealed. sooner or later it shall be exposed fully and hopefully by then i ve gotten my every dime fr my cpf....but i ve a gut feeling that it would be FAT HOPE! :(
tankinlian is a mini-chee soon juan. don't u know that? if u praise him, ur post would be printed; criticise and it won't see the light.
i dun think tkl has the habit of breaking an egg and fry it all the way well cooked. just like the mini-bond attention whoring, it's the whoring part he enjoyed but definitely not the solution part.
Similar threads
