Serious When is CPF going to do this?

[Papsmearer]

Exactly, a strong SGD is of no use when you live in Spore. Fucking stupid people cannot understand that and rejoicing over strong SGD which somehow does not translate to cheaper petrol, cheaper COE, cheaper medicine, cheaper hawker/food court/restaurant food, cheaper condo or even HDB, cheaper hospital stay or medical consultation and the list goes on and on.

Kindly explain that to the idiot Frenchbriefs. Its all about purchasing power. I strongly suspect that what a Malaysian can buy with RM$100 in his own country is probably more then what you can buy with SGD$100 in this country. Regardless of the exchange rate between the 2 countries.

 

[ginfreely]

You are wrong. The bank deposits are not like EPF paying above 6%. I don't closely monitor but the savings rates were around 1% while the FD rates were around 3% at the same time when EPF returns were 6% or above. So EPF is much higher return above bank deposits. Which means no excessive liquidity that you talking about.

so u believe theres very little inflation in malaysia only 2.5 percent,everything is under control and all is well,their currency exchange rate is dropping like a rock because malaysians are very generous and likes giving money and value away?theres a reason why their bank interest and epf interest rates are at 6 percent and thats because they are trying to keep up with inflation and inflation is likely to be even higher,if sg banks and cpf start giving away 8 percent interest rate like last time i wouldnt be jumping for joy i would be running away as fast as i can.the interest they are giving out is because there is huge amounts of excess liquidity being pumped into the economy and driving their currency to toilet paper quality.fucking hell,in the investment world,the only countries or companies that give high interest rates or high yielding bonds are highly risky companies or economies bordering the edge of insolvency with risky insufficent assets or poor balance sheets.are u willing to buy sri lankan or bangladesh government bonds if they offered u 8 percent interest coupons?

 

[ginfreely]

Kindly explain that to the idiot Frenchbriefs. Its all about purchasing power. I strongly suspect that what a Malaysian can buy with RM$100 in his own country is probably more then what you can buy with SGD$100 in this country.

Definitely can buy more even imported medicine. I just bought medicine for my friend two days ago at Rm60 for 2 packs. That will cost her more than SGD60 according to her. So much for ringgit collapsing and strong SGD. All bullshit.

 

[frenchbriefs]

Exactly, a strong SGD is of no use when you live in Spore. Fucking stupid people cannot understand that and rejoicing over strong SGD which somehow does not translate to cheaper petrol, cheaper COE, cheaper medicine, cheaper hawker/food court/restaurant food, cheaper condo or even HDB, cheaper hospital stay or medical consultation and the list goes on and on.

thats mainly because of inflation from land prices and rental and property prices.....thats why everything is so expensive in sg,not to mention transport cost and erp and coe........and also the fact that singapore is very small and has very little hinterland,we are basically a city country,we are like new york city or london,the epicenter of the nation's economy,the center of finance and commerce.we dont have any suburbs to go to or countryside or cheaper states or provinces......the cost of living between new york city and someplace like vermont or is vastly different......singapore is so small its like one tenth the size of melbourne,everything and everyone is condensed and packed onto this 600sqkm island.

 

[frenchbriefs]

You are wrong. The bank deposits are not like EPF paying above 6%. I don't closely monitor but the savings rates were around 1% while the FD rates were around 3% at the same time when EPF returns were 6% or above. So EPF is much higher return above bank deposits. Which means no excessive liquidity that you talking about.

i saw a advertisement of a malaysian bank offering 7 or 8 percent fixed deposit once on a investment forum last year.......but u are right 12 months fixed rates in malaysia are between 3.6 to 4.3 percent from a simple google search......it doesnt matter 12 month is a very short term deposit......epf is like what 20 years?30 years?

 

[Papsmearer]

thats mainly because of inflation from land prices and rental and property prices.....thats why everything is so expensive in sg,not to mention transport cost and erp and coe........and also the fact that singapore is very small and has very little hinterland,we are basically a city country,we are like new york city or london,the epicenter of the nation's economy,the center of finance and commerce.we dont have any suburbs to go to or countryside or cheaper states or provinces......the cost of living between new york city and someplace like vermont is vastly different......singapore is so small its like one tenth the size of melbourne,everything and everyone is condensed and packed onto this 600sqkm island.

Once again, you are so full of shit, comparing apples with oranges. New York, London, and any other cities you care to use as your example, DO NOT PRINT THEIR OWN CURRENCY, DO NOT HAVE THEIR OWN CENTRAL BANK, CANNOT SET INTEREST RATES FOR THE WHOLE COUNTRY, ETC. Singapore can, and therefore controls its own money supply and sets its own economic course in ways that those cities cannot. Don't come here and talk inflation from land and property prices when u have no clue what you are talking about.

 

[Papsmearer]

i saw a advertisement of a malaysian bank offering 7 or 8 percent fixed deposit once on a investment forum last year.......but u are right 12 months fixed rates in malaysia are between 3.6 to 4.3 percent from a simple google search......it doesnt matter 12 month is a very short term deposit......epf is like what 20 years?30 years?

Stop comparing apples and oranges. It shows how ignorant you are. A bank offering a rate for fixed deposit is not the same as the rate of return from EPF. EPF's deposits are guaranteed by the Malaysian govt. You cannot lose your investment. A bank depending on its credit rating will have to offer its interest rate accordingly. BSI can offer 50% interest, but no one will deposit their money with them. Why? Because they are being closed down by MAS. Not all banks have the same financial strength and it follows that the weaker banks will offer a higher rate to attract investors who might perceive it as a riskier investment. Do you understand this simple concept?

 

[frenchbriefs]

Once again, you are so full of shit, comparing apples with oranges. New York, London, and any other cities you care to use as your example, DO NOT PRINT THEIR OWN CURRENCY, DO NOT HAVE THEIR OWN CENTRAL BANK, CANNOT SET INTEREST RATES FOR THE WHOLE COUNTRY, ETC. Singapore can, and therefore controls its own money supply and sets its own economic course in ways that those cities cannot. Don't come here and talk inflation from land and property prices when u have no clue what you are talking about.

im just saying the size of singapore is so small,stepping into singapore is literally like stepping right into new york city,where the cost of living and rent is extremely high.singapore is like kuala lumpur of malaysia without the rest of malaysia......try renting a condo in kuala lumpur and renting a condo in some godforsaken shithole like pontian.sigh.....

 

[frenchbriefs]

Stop comparing apples and oranges. It shows how ignorant you are. A bank offering a rate for fixed deposit is not the same as the rate of return from EPF. EPF's deposits are guaranteed by the Malaysian govt. You cannot lose your investment. A bank depending on its credit rating will have to offer its interest rate accordingly. BSI can offer 50% interest, but no one will deposit their money with them. Why? Because they are being closed down by MAS. Not all banks have the same financial strength and it follows that the weaker banks will offer a higher rate to attract investors who might perceive it as a riskier investment. Do you understand this simple concept?

u mean malaysia's bank deposits arent guaranteed by the government?or at least up to a certain amount?im pretty sure most banks have that covenant in it.which government or country in the world do not guarantee their citizen's bank deposits ?fucking joke we are talking about savings and deposits here,bank's credit ratings?are u investing in the bank?are u a shareholder of the bank?did u buy half a million dollars worth of lehman bros minibonds why the fuck do u care about the bank ratings if u are not shareholder or investor?

 

[frenchbriefs]

Stop comparing apples and oranges. It shows how ignorant you are. A bank offering a rate for fixed deposit is not the same as the rate of return from EPF. EPF's deposits are guaranteed by the Malaysian govt. You cannot lose your investment. A bank depending on its credit rating will have to offer its interest rate accordingly. BSI can offer 50% interest, but no one will deposit their money with them. Why? Because they are being closed down by MAS. Not all banks have the same financial strength and it follows that the weaker banks will offer a higher rate to attract investors who might perceive it as a riskier investment. Do you understand this simple concept?

let me tell u if BSI offers 50 percent interest,i will still fucking bank with them regardless if they going down or not,cause my deposits are guaranteed by the msian government up to 250k .....so if BSI acknowledges its end of the deal,i stand to make a huge profit.if they renege on the deal,i lose nothing cause every cent of my money is guaranteed by the government.anyway theres no such thing as zero risk in anything,we are simply passing the risk on from one party to another...like AIG,when they failed,the US government had to bail them out three times,they had 200 billion dollars of toxic assets on their books from all the cdos they bought and all the cds they sold to other investment banks,if the government didnt bail AIG out,200 bil would have disappeared and alot of people would have lost money.theres a risk the msian government can become insolvent too or they print more money until the ringgit becomes toilet paper to repay all their debts and guarantees essentially turning all their debtors' debts into toilet paper.......epf 6 percent interest is irrelevant,the fact that im holding malaysian currency and malaysian denominated epf savings or deposits is fucking risk itself,any fucking moment the money might turn into toilet paper.what kind of currency in the world can lose 20 percent value in 2 years?

 

[spinn]

bolehland fd rates:
https://ringgitplus.com/en/fixed-deposit/

world purchasing power parity:
http://data.worldbank.org/indicator/PA.NUS.PPPC.RF

 

[frenchbriefs]

bolehland fd rates:
https://ringgitplus.com/en/fixed-deposit/

world purchasing power parity:
http://data.worldbank.org/indicator/PA.NUS.PPPC.RF

those rates are for six months,if u look at 1 year or 5 years u get up to 4.3 percent,if u believe in allahu akbah they will even throw in an extra 0.2 percent and a free gift.

 

[ginfreely]

i saw a advertisement of a malaysian bank offering 7 or 8 percent fixed deposit once on a investment forum last year.......but u are right 12 months fixed rates in malaysia are between 3.6 to 4.3 percent from a simple google search......it doesnt matter 12 month is a very short term deposit......epf is like what 20 years?30 years?

You mean like this promo FD offering 8.88% return? Since normal FD only around 3% to 4% then something that offers double must have a catch somewhere. Either you have to make another investment to enjoy the double FD rate or like this promo 8.88% was only applicable for the last month of the 12 month term. It's quite common they have promo of this kind of staggered returns with low or normal rate at beginning and much higher rates towards the end of the term.

http://www.exchangerate.my/promotion/Public-Bank-Super-FD-offer

Anyway you are right that EPF should offer higher return as they are much longer term. Same for our CPF which should be doing that but always 2.5% when now SG banks interest rates are already higher.

 

[ginfreely]

those rates are for six months,if u look at 1 year or 5 years u get up to 4.3 percent,if u believe in allahu akbah they will even throw in an extra 0.2 percent and a free gift.

No i see those major banks only paying around 3.2% or 3.3% for 12 month deposit unless promotion.

https://www.imoney.my/fixed-deposit

http://www.maybank2u.com.my/mbb_inf...Accounts&chCatId=/mbb/Personal/PRO-Promotions

 

[ginfreely]

thats mainly because of inflation from land prices and rental and property prices.....thats why everything is so expensive in sg,not to mention transport cost and erp and coe........and also the fact that singapore is very small and has very little hinterland,we are basically a city country,we are like new york city or london,the epicenter of the nation's economy,the center of finance and commerce.we dont have any suburbs to go to or countryside or cheaper states or provinces......the cost of living between new york city and someplace like vermont or is vastly different......singapore is so small its like one tenth the size of melbourne,everything and everyone is condensed and packed onto this 600sqkm island.

Whatever it is it just proves that we have to see things in entirety and not judge based on one facet like exchange rate.

 

[frenchbriefs]

Once again, you are so full of shit, comparing apples with oranges. New York, London, and any other cities you care to use as your example, DO NOT PRINT THEIR OWN CURRENCY, DO NOT HAVE THEIR OWN CENTRAL BANK, CANNOT SET INTEREST RATES FOR THE WHOLE COUNTRY, ETC. Singapore can, and therefore controls its own money supply and sets its own economic course in ways that those cities cannot. Don't come here and talk inflation from land and property prices when u have no clue what you are talking about.

look here,what the fuck are u blabbering on about currency and own central bank and interest rates?let me ask u this,what currency does the united states of america use?the USD.what currency does new york city use?USD.what currency does san francisco use?USD.what currency does massachusetts use?USD.what currency does houston use?USD.what currency does south carolina,arkansas,indiana,oklahoma and tenesse use?the USD.now is the US currency strong?yes very strong.now when ginfreely says we cant enjoy a strong SGD,thats because singapore is a extremely small country,with extremely limited land mass and physical space........our entire country itself is essentially just a highly developed major city with no suburbia and no vast countryside.we are basically one crowded island full of high rise buildings and skyscrapers and everyone suffers from being within the proximity of this expensive city and high cost of living.this is not america the 3rd largest country in the world with land area of 8,000,000 sq km and 50 different states and lots of major cities and hundreds of smaller secondary cities with lower cost of living and tons of suburbia and vast countryside and hinterland....in new york city for example a tiny apartment can cost anywhere from $1400 per month to $2000 to rent,the same as the cost of renting a pigeon hole in singapore......whereas u can go somewhere like oregon or idaho where u can rent a freaking house for $400 a month.a bottle of coke in new york cost $3.50,a bottle of coke in texas probably cost $1 or less.the whole of fucking USA is using the same currency,but they can enjoy a much lower cost of living in some states than others.

 

[frenchbriefs]

No i see those major banks only paying around 3.2% or 3.3% for 12 month deposit unless promotion.

https://www.imoney.my/fixed-deposit

http://www.maybank2u.com.my/mbb_inf...Accounts&chCatId=/mbb/Personal/PRO-Promotions

i clicked ur link and its showing me offers between 3.9 percent to 5.4 percent....way higher.the only thing is u need a 200k minimum RM deposit,

 

[ginfreely]

i clicked ur link and its showing me offers between 3.9 percent to 5.4 percent....way higher.the only thing is u need a 200k minimum RM deposit,

As I said those are promotion and some are staggered rates. You click the details and see the fine print will see the highest effective rate for 12 month is only 4.3% for these promo.

 

[frenchbriefs]

As I said those are promotion and some are staggered rates. You click the details and see the fine print will see the highest effective rate for 12 month is only 4.3% for these promo.

yes....effective rate is about 4.3 percent,anyway fixed deposits are meant to be extremely safe investments,the interest is guaranteed and ur money is guaranteed by the government,so u shouldnt expect too much from them.....there is no safety in safety,if u choose the safe route ur money will be eroded by inflation and currency risk and depreciation over time......the best way to invest is high risk high return,the higher the return,the lower the risk because u recoup ur capital faster over time.once ur capital is recouped,the rest is all profit.aim for 10 percent returns but not so high until it becomes ponzi scheme returns.

 

[lifeafter41]

As I said those are promotion and some are staggered rates. You click the details and see the fine print will see the highest effective rate for 12 month is only 4.3% for these promo.

Do be careful if you plan to convert sgd to rm and put it in their fd. Given if the rate is 4.3%. Apart from the conversion loss, there is also the possibility of the rm sliding 12 months later. While it is possible it could go the other way round, I do think it's unlikely in the near term.

I recall one forummer did that and the rm slide quite a fair bit during the tenure. Apart from the forex losses, he has to contend with inflation that the rm can buy lesser of goods now with the introduction of GST.

Only comforting thing is I recall the wifey is Malaysian so it's still alright for them to hold it in rm. that is the only consolation......