Serious When is CPF going to do this?

[eatshitndie]

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......

was there a couple of weeks ago, and there's fear in kl of capital flight as the wealthy and more astute are searching for alleyways and underground tunnels to park their wealth in strong currencies and other investments out of cuntry. if ruling politicians are doing it en masse, the elites are overwhelmingly doing it under radar. shit has not hit the fan yet as it's confined to the 5%. but if the middle class panics and follows suit, shit will hit the fan. and my opinion is that it will likely happen with more scandals to break. it's extremely unstable right now in the undercurrents.

 

[ginfreely]

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......

No I am not converting to ringgit more than I need to use. It has been declining so people should not do that unless they want to take risk for higher return. Especially foreigners who ultimately have to convert back to SGD.

 

[ginfreely]

was there a couple of weeks ago, and there's fear in kl of capital flight as the wealthy and more astute are searching for alleyways and underground tunnels to park their wealth in strong currencies and other investments out of cuntry. if ruling politicians are doing it en masse, the elites are overwhelmingly doing it under radar. shit has not hit the fan yet as it's confined to the 5%. but if the middle class panics and follows suit, shit will hit the fan. and my opinion is that it will likely happen with more scandals to break. it's extremely unstable right now in the undercurrents.

From what I heard not just their rich but all those working in Spore have been doing that for a long time, leaving most of their money in SGD knowing it will decline and only convert when good rates so that they can maximise their spending power in Msia eventually.

 

[eatshitndie]

From what I heard not just their rich but all those working in Spore have been doing that for a long time, leaving most of their money in SGD knowing it will decline and only convert when good rates so that they can maximise their spending power in Msia eventually.

that we already know as we have malaise-an workers in sg. for ml workers in sg, we're talking millions of sgd. for elites in ml, we're talking billions and possibly trillions in ringgit ready to take flight or already in flight. it only proves what a shitty currency the ringgit is.

 

[frenchbriefs]

was there a couple of weeks ago, and there's fear in kl of capital flight as the wealthy and more astute are searching for alleyways and underground tunnels to park their wealth in strong currencies and other investments out of cuntry. if ruling politicians are doing it en masse, the elites are overwhelmingly doing it under radar. shit has not hit the fan yet as it's confined to the 5%. but if the middle class panics and follows suit, shit will hit the fan. and my opinion is that it will likely happen with more scandals to break. it's extremely unstable right now in the undercurrents.

u mean they just cant open a online stockbroker account with a local or US stockbroker and invest their money in the US stock market or UK market or CAD or whichever market they want?for all you know,there might not even be any money in the malaysian stock market anyway,it could be as shitty as the SG stock market languishing and stagnant,besides a few big counters and the few main companies in singapore,the rest are all penny or junk stocks that no other stock exchanges would want to list.anyway i believe theres a wealth inequality study in singapore long ago,its says the top 10% of singaporeans own 60% of the wealth in Singapore,basically the middle class and working class in SG which represents the other 80 or 90 percent are broke as fuck.same goes for America, In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 4% owns 27.3% and the next 5% owns 11.5% Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.which is why im moving to america because america is the land of the capitalist,not the land of the lets pander to the average joe's dream.anyway last i checked SG stock market is a pitiful 273 billion market cap,while american stock market is a massive 19.5 trillion,i have no idea why so many sinkies put so much faith in their local stock market when its economy is so vulnerable to not only externalities in asia and south east asia but also factors in US and europe and it attracts so little foreign or overseas investment capital when SG claims to be the financial hub

 

[Bad New Brown]

This tread was started by @ginfreely about 4 years ago in 2016 and now in 2020 she is broke