Monday, May 25, 2015

Forex and pigs

Today I am at a loss as what to blog on. Everyone is talking about or has posted or heard tons/oozes of 1MDB stories that I don't believe I can add anything revealing on the issue, other than to quote someone.

OK, so happened I was at RPK's website, reading about the RM58 billion loss (actually 30 billion in 1991-2 but RPK converted-updated that amount to today's value of 58 billion) by our adventurous Bank Negara and Finance Ministry in Forex trading. RPK quoted Lim Kit Siang saying on 10th January 2004 (as follows):

Nor Mohamed’s first job is to issue a White Paper to “exorcise the ghost” of the RM30 billion Bank Negara forex losses a decade ago to establish his suitability as the Second Finance Minister – apart from professionalism, a full commitment to accountability, transparency and good democratic governance.

In Parliament in 1994, I had given reasons as to why the Bank Negara’s forex losses as a result of its forex speculation operations could have amounted to as high as RM30 billion, which had not been seriously rebutted by any top government leader or Bank Negara official.

The reasons which I had advanced in Parliament in 1994 for a Royal Commission of Inquiry into the colossal Bank Negara forex losses remain valid today, and should be the terms of reference of the White Paper which Nor Mohamed should present publicly as his first Ministerial duty, viz:

1. To determine the actual extent of the colossal forex losses suffered by Bank Negara 1992-1994;

2. Whether there had been any financial malpractices and abuses in view of the inconsistencies and conflicting explanations about the colossal forex losses; and

3. Establish how Bank Negara could incur such colossal losses.

Previously, on 11 April 1994, Lim Kit Siang delivered the following in Parliament (extracts only):

Furthermore, Anwar Ibrahim had misled Parliament last July when I questioned him whether Bank Negara had suffered more forex losses. Anwar said that this was not true as he had been monitoring the Bank Negara’s forex dealings weekly.

On July 19, 1993, I asked Anwar Ibrahim a supplementary question during question timw as to whether at that date, Bank Negara’s provision of Rm2.7 billion contingent liability for forward forex trading in the 1992 Bank Negara accounts had not only been confirmed, but even more forex losses had been incurred.

This is Anwar’s reply, from the Hansard of 19th July 1993(p. 28):

“Dato Seri Anwar bin Ibrahim: Tua Yang di-Pertua, dukacita saya memaklumkan ini satu berita yang kurang baik bagi Yang Berhormat dari Tanjong. Kerugian yang dimaksudkan itu tidak berlaku dan tidak bertambah. Yang Berhormat mahu percaya atau tidak, tetapi saya ada maklumat yang sebenar tentang keadaan tersebut. Saya juga meneliti tiap-tiap minggu perkembangan kerana masalah yang dihadapi sebelum ini…. Saya ingin member jaminan kepada Yang Berhormat bagi Tanjong bahawa perkara ini kita teliti lebih dekat dan kita lebih waspada kerana pengalaman yang lalu.”

In this one short answer, Anwar Ibrahim had misled Parliament and the nation on three matters:

*that by July 1993, the provision in the 1992 Bank Negara accounts for RM2.7 billion contingent liability for forward forex trading had not been confirmed;

*that Bank Negara had not suffered more forex losses; and

*that his weekly monitoring of Bank Negara’s forex dealings would prevent firther colossal losses arising from Bank Negara’s forward forex trading.

If Anwar Ibrahim claims that he had directed Bank Negara to stop forward forex trading 18 months ago, and that “there are no new trading arrangements” last year as the central bank unwound its forward positions in the market last year (Business Times April 6, 1994), then Bank Negara should not have incurred RM5.7 billion when its contingent liability provision for such forward forex trading in end- 1992 was RM2.7 billion.

We all know that Dr M was the PM then. Hmmm, I wonder whether he was also the Finance Minister? But no, I believe we know who was the Finance Minister! Wakakaka.

Since then, RPK has another related post titled pointedly and poignantly as WHY 1MDB IS NOT OKAY AND THE FOREX LOSS OKAY?

Anyway, those are issues known to virtually every adult Malaysia so I wasn't all that deeply interested, though I am amazed (methinks 'flabbergasted' would be a better word) that Dr M saw fit to criticize Najib for 1MDB - mind, it's not that his criticisms of Ah Jib Gor was out of order, au contraire, but I wonder how he and his Forex adventure would compare with 1MDB.

But far more interestingly, I came across a comment by one of RPK's regulars, a commentator by the name of Mat Topeng, who leave the following non-sequitur comment [verbatim]:

By the way, sometimes I wonder why is cina always get associated with babi? Is it because of their eyes? the color of their skin? or due to their bloated face? or because of the way they eat? or because they love babi very much and cannot be separated from babi, not even for a day! or because they can eat everything like a babi does?

Just curious for answers.

Actually Mat Topeng has been observant because Chinese like pork and pigs. Before I go on to explain, have you by the by read my piggy posts as follows?

(1) The never-ending piggy story
(2) Pet of the God Seth
(3) Pig & Prejudice


(10) BolehTalk's The Pig on Noah's Ark

Chinese not only love pigs and pork but also name some of their children as 'ah too' (piggy), 'aw too' (black pig), 'too boe' (female pig or sow - this being a nick for a man, wakakaka), 'too knia' (pigling) and Chinese grannies and aunties would croon to babies as 'babi knia', an affectionate baba-nyonya term implying the babes were as cuddly as young piglets.

The village (pork) butcher would be addressed respectfully as 'Too Bah Chek' ('Uncle Pork' and his wife as 'Too Bah Ee'.

Chinese celebrated festivals, folk religious ceremonies and solemn events such as funerals, weddings and birthdays with trays of roast pigs.

Years ago my village doctor, with his B.Sc (Hon), MBBS from Dublin, would order a roast suckling pig as votive offering on the most important and sacred day of the year for Hokkiens, namely, the 9th Day of the 1st Moon of the Chinese lunar-solar calendar, this being the birthday of Thnee Kong (Lord of Heaven), the Numero Uno of the Chinese folk religion pantheon.

Thnee Kong Thnuah Temple
Ayer Itam, Penang

[where poor kaytee spent his time in one of the temple's secluded corners mugging up for his Bible scripture test, wakakaka]

The votive offerings would be made every year commencing on the eve of Thnee Kong's birthday, to wit, the 8th Night of the 1st Moon. For more, see Hokkien salvation in sugar cane fields.

es, southern Chinese certainly have an affinity with pork, pigs and bah-kut-teh, hence I replied Mat Topeng's comment [to satisfy his 'just curious for answers'] with:

Mat Topeng I don't know how true this is but I have read some scientists claiming that eating babi improves thinking and thus intelligence.

One example they referred to is that ever since the non-orthodox Jews of recent times (last 100 years plus or minus) partake of pork they have not only become more intelligent (like Einstein), but have form their own new nation Israel, resurrect a dead language Hebrew for their everyday use (the only dead language ever resurrected) etc, where "etc" includes controlling the most powerful nation in the world (but not as powerful as the Jews, where more than a few have taken pork).

Another pork-loving race are the Germans - are they smart or what? They're the most powerful and probably richest West Europeans - even Russia fears Germany. And of course the Austrians, Danes and Poms love pork as well.

Then there are the southern Chinese (northern Chinese prefer beef and mutton), same as Taiwanese, Chinese Malaysians and Sings, they thrive on pork.

Personally I've to admit I do love pork, especially roast pork (Chinese and Western style) more so the suckling piggy variety, barbeque pork (char siew) and bah-kut-teh. Also, wild pigs cooked in hot curry goes well with Anchor beer. Sedap sangat.

On a religious note for Christians, since Noah allowed two pigs to board his Ark, there must be a divinely ordained role for these sweet-tasting creatures, and the non-orthodox Jews, Germanic race (Germans, Austrians, Poms, Danes, etc), Chinese have taken up on what they perceive/believe to be God's culinary plan.

Hallelujah and Amen!


  1. 58b is forex loss, everyone understand the statement easily (except the spin king of course), but what is 1mdb? seem no one know.

    mat duping is fine, we oso have our looes wakaka.

    1. i think it is just unrealised loss. big mega project. new business. government development arm. sovereign guarantee. perhaps, it is for ge13 and br1m and many other perhaps and perhaps? temasik oso lost a lot of money not so long ago? more than rm90 over billion? y want to be so kepoh about 1mdb? rpk and kt are on the right track.

    2. u think mean u dun know. but we all know forex loss n investment loss. dun know could mean the money can go anywhere. if that is yr dad money, of course no one care. aiyo, yr nick reflects u nicely la.

      rpk n kt r definitely on the right trait, hatred trait.

    3. wakakaka HY, "kt on hatred trait" -- aiyoyo, you PKR jokers are the worst in the very business of hatred so it's a big joke for u to accuse others of your fave mental inclination

    4. Wakakaka…. pacify yourself HY with your song.

      You could sustain
      Or are you comfortable with the pain?
      You've got no one to blame for your unhappiness
      You got yourself into your own mess
      Lettin' your worries pass you by
      Don't you think it's worth your time
      To change your mind?

    5. HY, minum tea dengan cawan mesti ada piring la. cakap mesti beralas la. nanti bila itu pac completes its investigation and if i am right, you can sleep in my nickers. dont wori la.. i will spray brasil dream so that you dont have to suffer that pussy willy smell.

    6. yeah yeah my song end with make up your mind hold on x2 baby hold on, so brother hadi opps, brother hasan, make up your mind n stop wandering wakaka

    7. my know all kawan, ini artikel cakap pasal forex, babi, mat duping dan 1mdb la. aku tak rela nak bincang babi mat duping, jadi apa kepoh sangat kalu aku berpegang dengan topik?

      if 1mdb is proven clean, then i admit i make a wrong accusation n sincerely apologise, aku minta maaf kepada sekalian yg aku tuduh sebagai penyamun dan perombak. fair? see, it is not that hard to admit mistake n say sorry. having said that, dun u think the entire event make an impression of no transparency, n very less accoutability?

      sure, u could be right after all, but I’d say thats rather unlikely, even if i am proven right, i would only feel sad n sorry to every fellow msian. n thanks for sharing yr nickers, thats very kind of u. throwing irrelevant jabs seem to be yr very unique talent wakaka.

    8. my fair minded kawan, do you think that man yang tidak bermaruah you put high on a pedestal and worship is transparent and accountable? raped a man many times n perhaps the one who authorised the rogue forex trading by bnm is ok to you? i would only feel sad n sorry to you and his fellow supporters. oh lu kutuk gua punya handle tak pe? gua kutuk lu tidok dalam gua punya nickers, cannot? gua pinjam itu kt punya perkataan - podah!

    9. Yup HY... your song is aptly for you; to change and stop wandering about "pig". Got it?

  2. early morning, kaytee went to toilet to pang sai but sai cant come out and it is anwar fault

  3. The fascinating story of Rosmah Mansor.......One of the very few issues that cibai kaytee refuses to talk about. Makes me wonder his connection with Rosmah. Kaytee can whack Wan Azizah and even Siti Hasmah.......That makes me puke on kaytee's cibai character and yet nothing on Rosmah........why

    "......The wife of Prime Minister Najib Razak handed her critics new fuel with comments on Monday lamenting the RM1,200 (S$450.39) she has to spend on house calls by stylists to dye her substantial head of hair, and RM500 for tailored dresses......" ".......The New York Times ran a report earlier this month detailing purchases of high-end US real estate by people close to Najib, and said it also had obtained documents showing millions of dollars in jewellery purchases for Rosmah...... "

    Hahahahaha! One wonder why GST is introduced hor?

    Who the fuck is J Lho? He is a penangite right? is kaytee a penangite? Hahahahaha!

    Seriously I have nothing but sympathy towards Puteri Zainah? Who is Puteri Zainah?

    even RPK has commented on this......yet kaytee.......hahahahaha

    ".....Untuk lepaskan dirinya dari Rosmah dia cepat-cepat paskan Rosmah kepada Najib. Dia beri pengakuan kepada Rosmah, kalau dia baik dengan Najib dia boleh dapat kawasan balak. Negeri Pahang banyak balak, Melaka tidak ada balak......"

    How did Najib become CM of Pahang?

    Again by RPK himself before.......hahahahaha

    seriously whatever misgivings Anwar has done........At least Anwar led student protest against village poverty.......compared with Najib........enjoying in yingerand

    Again, where was Najib then?

  4. What is the first thing come into you mind when you hear the words Washington Post?

    Nixon's watergate scandal

    Chao cibai kaytee.......If only.......hahahaha, fuck you if you wanna bring up singapore......Got guts, come singapore

  5. Cibai kaytee, what is the definition of perjury?

    On March 10, 2015 in a written reply in Parliament, PM Najib Razak said the US$1.103 billion (RM3.9 billion) which were held in the Singapore bank is in the form of cash.

    This statement had been corroborated by 1MDB president and group executive director, Arul Kanda Kandasamy. On Feb 7, 2015, in an interview with the Singapore Business Times, he confirmed that US$1.103 billion was kept in BSI bank, Singapore, in hard cash.

    Come on, what are the charges of misleading parliament? What are your defences towards najib and ROSMAH?

    Your loverboy whacked Rosmah........why are you so up tight about rosmah? Her hands on your family jewels.

    Is Rizal Mansor your good friend?

    1. aisehman looes, sorry I mean cibai looes, wakakaka, cibai you seem to be obsessed with Auntie Rosmah lah

    2. bapak penswastaan was once asked to comment about nyonya mansor after becoming the maharani of malaysia and this is what he said then 'itu hak dia kalau dia nak menonjol'. sekarang apa sudah jadi?

    To me that is a dishonest question, a sneaky question, because it forces the receiver into a binary Yes/No answer.
    My answer is - 1MDB is not OK, neither was the Forex loss.
    And additional answer - Two wrongs don't make a right.

    There is an important qualitative difference between misconduct and fraud.
    Misconduct is where a person or group of persons have acted outside of an organisations rules and regulations, detrimental to the organisation's performance.
    Fraud is wrongful or criminal deception intended to result in financial or personal gain.

    People get fired from their job for Misconduct. People go to jail for proven Fraud.

    No Royal Commission was carried out on the RM 30 Billion of that time, and in those Pre-Internet days, we probably will never know the truth.
    However, in the 1MDB case, there are mountains of documents provided by the Sarawak Report, so 1MDB is not mere allegations. Are the documents untrue or falsified ? That's up to the investigation to answer.

    The Forex loss definitely involved misconduct. Bank Negara has a right, even duty to carry out Forex trading. However the massive levels of Forex trade carried out far exceeds any legitimate Forex trading by Bank Negara. The US Federal Reserve Bank report from that time called Bank Negara a Rogue currency speculator, and reported it as the world's largest Central Banking Forex trader.
    However the (limited) information available is unclear whether criminal fraud was involved.

    On to 1MDB. The Sarawak Report documents, if true, show widespread and massive fraud in 1MDB's transactions. Some people closely associated with the organisation may have made large amounts of personal gain from these fraudulent transactions.

    Last of all to Financial repercussions.
    In both the Temasek and the Forex case, the organisations lost money that they had.
    Money got burnt , but that was it.

    In the 1MDB case there is double jeopardy, because 1MDB was build almost entirely from borrowed money.
    Not only money has likely been burnt, it has to be paid back somehow...By guess who.

    You, me, the Pilgrim's Fund, EPF, KWAP, etc. etc. your children, my children, maybe your grandchildren, maybe my grandchildren,.

    1. yes, it is loud and clear, rm30b was the forex loss but for 1mdb, where's the balance of rm27b? orang kampong pun want to know.

    2. Brother Ah Jib, typical of his modus operandi, will continue to hire con-sultants ( the latest being that Wing fella for a total image overhaul) and he obviously had exerted greater effort to hire mercenary bloggers to match up with the likes of OutSyedTheBox who had hantam him kau kau almost on a daily basis. A few million ringgit per blogger is kacang to one who deals only in billions.

      That is why we see one well known blogger throwing caution to the wind.....typing furiously away in a kopitiam.....taking us for fools with his far from subtle overboard spinning.

      Wish some one could inform bro ah jib not to waste money in this is not working at all....but then, when one's desperate, they would grasp at any straw.

  7. Meanwhile Najib has his 2 eyes meeting with The Finance Minister of Malaysia

    Meanwhile this is what happened during the PAC meeting........hahahaha

    That pool supervisor may be najib tun razak