Thursday, November 30, 2017

Forex - Anwar made a 'fall guy'?

Malaysiakini - Forex losses: RM31b figure, ... Kit Siang feels vindicated (extracts):

if only the public knows ... 

Kit Siang said that in another speech in Parliament in May 1994, he had asked whether, at the height of Bank Negara's speculation in the forward foreign exchange market in 1992, Bank Negara's maximum exposure was in the region of RM270 billion – three times the country's GDP and more than five times the country's foreign reserves at the time.

C'mon, Uncle Lim, we Malaysians think and play (or played) BIG, wakakaKA.

“Today, the RCI report said 'the average monthly maturing buy-and-sell transactions was RM149.7 billion and RM153.4 billion respectively' and 'the total volume reached RM750.7 billion in February 1993',” he added.

The DAP veteran also questioned how such colossal losses could have escaped the attention and responsibility of any cabinet minister, which included Prime Minister Najib Abdul Razak, who was then helming the Defence Ministry.

Let's SPECIFICALLY blame that Najib f**ker instead of Mahathir (then-PM) or Anwar Ibrahim (then-Finance Minister).

guilty for Forex loss in failing to surround Bank Negara with your military 

Najib as then-Defence Minister should have surrounded Bank Negara with his military - what a waste of armed resources. It's all Najib's f**king fault. 

If Najib had acted militarily and decisively, then there would not have been any losses, and today poor innocent Mahathir and Anwar wouldn't have been blamed.

Noting that the RCI recommended that an investigation is carried out to determine if Mahathir and his then deputy Anwar Ibrahim had concealed facts from the cabinet, Kit Siang also asked about the culpability of the other cabinet ministers at the time.

Indeed, apart from blaming Najib as Defence Minister (though he's the MAIN TARGET), let's also blame:

Ghafar Baba and Anwar Ibrahim (ooops cancel off Anwar please, just blame Ghafar alone) as DPM,

Syed Hamid Albar as Justice Minister,

Rafidah Aziz as Int'l Trade & Industry Minister,

Anwar Ibrahim (ooops not him please, just) Sulaiman Daud as Education Minister,

Ling Liong Sik as Transport Minister,

Sanusi Junid as Agricultural Minister,

Lee Kim Sai as Health Minister,

Abu Hassan Omar and AAB as Foreign Minister,

etc etc etc,

... but remember, in accordance with the logic of Lim Kit Siang, we should NOT just blame Mahathir or Anwar Ibrahim by themselves without dragging in the other members of the cabinet (who might NOT have even been told or briefed truthfully, wakakaka).

In those powerful days of a draconian boss, no one f**k-ed around with his rule or his words - if he (or his Finance Minister Anwar) said the Forex loss was only RM10.7 billion (when the truth was RM30.5 Billion) who in the cabinet dared to query him on that?

And today if he can't remember the Forex loss was RM30.5 Billion, recall his wise words that 'Melayu mudah lupa'. 

Let's spread the blame around the cabinet members so Mahathir and Anwar won't be damaged so badly, and let's specifically target Najib - yummy, wakakaka.

Personally, kaytee believes Anwar Ibrahim was NOT involved. He was probably as clueless as everyone except those responsible, so he made 'misleading' statements in accordance to 'arahan dari atasan' (remember this?)

Siapakah 'atasan' itu?.

Anwar was made Finance Minister to be someone's 'fall guy' (scapegoat) - poor bastard.


  1. Wakakakaka...u REALLY r something le!

    Ahjibgor's fault lied not bcoz of his defense ministry position. It's bcoz of him been a cabinet member. The collective responsibility under the oft claimed cabinet decision is irrefutable. Ain't that's WHY u'd listed all those other fat cats BUT w/o saying so.. tsk.. tsk..

    BTW, since this RCI is such a shambles, how could u even entertain ANY featured 'facts' mentioned in it???

    Most of the people involved, all confessed sudden lost of memory due to time lapse. The Bank Negara records would most likely been 'destroyed' long long time ago.

    The ONLY possibility for these records to be presented now, directly implies hanky-pankies lah!

    If u have the time to ponder deeply, perhaps u should try harder to link the recent abruptly resignation of the ONLY deputy governor of Bank Negara. His reason for resignation IS professional integrity!!!!

    1. last paragraph - in his parting shot Sukhdev said “leadership is a responsibility and not a privilege”.

      I think he was disappointed he was not appointed Governor with his qualifications - that's what he probably meant by 'responsibility' and not a 'privilege' (gift)

    2. Wow!!!!

      Timing... everything is anchored on timing le.

      If he resigned bcoz he was disappointed he was not appointed Governor with his qualifications.

      Then he SHOULD have quited perhaps within a few days after the new governor was named.

      Ooop, maybe waiting ~1.5 yrs for better outside offer! Wakakakaka.

      Sukhdave said it himself that the reason for his departure was due to certain professional standards that he deemed important not being met.

      As a long serving deputy governor, he has reached the pinnacle of his career in that organisation.

      He would have known that the top post is reserved for the tongkat race to play the musical chairs game, qualifications irregardless. There r just that many 2nd best jaguh kampong mah!

      Disappointment¿???¿ What cockagroo r u talking le?

  2. although you try to make it look ridiculous the idea of blaming the forex fiasco on the whole cabinet, you may have inadvertently made a salient point, I mean why shouldn't they be held responsible collectively unless they were all in parliament just window dressing, the lone oppo leader being treated like an insignificant madman with his ranting...we should appreciate his effort instead of turning around and making him look like a nuisance and a fraud

  3. The report mentions three people; the PM, the Finance Minister, and NMY. They have collectively contravened four sections of the CPC.

  4. RM31.5 billion! How much to forex loss and to personal wealth? 100:0? 50:50? Of course some portion to Soros, who gave back to the opposition?

  5. This RCI has as much credibility as the infamous "I am reliably informed" other words No credibility. For all the sonorous intimations, much of it is hearsay , many by the existing Malaysian Official 1's hatchet men.
    I have seen very credible RCI's, such as the one conducted by Justice Chang Ming Tat into the Penang Ferry tragedy, and Justice Dzaiddin's inquiry into Poluce reform. This one is Not Independent and not credible expected of anything Najib touches.
    It is a farcical witch hunt into a 25 year old event, while the ringmaster is right at this monent conducting an even bigger fraud with 1MDB.
    This Unknown fella rants about Forex but thinks 1MDB is making huge benefits for the country. How foolish.

    1. so say a devoted acolyte of Mahathir

    2. No..I am primarily a supporter of non-race based democracy and transparency, but not the DAP version.
      I see Anwar Ibrahim as the best promoter of such a future. Mahathir is a useful conduit, as long as he opposes the Najib UMNO.

    3. Hello.. not the original, Mr. Monsterball, first please you tell me how much is the amount? USD42.0 billion; USD50.0 billion; USD2.0 billion? You keep on moving your goal post. At least for forex and panama we know it is RM31.5 billion. You may be smart but you do not have focus?

    4. don't blame Monsterball - he'd just re-quote Mahathir, wakakaka

    5. Who knows how much 1MDB public funds are missing ? Credible number is RM 42 Billion. Najib apologists like Ktemoc and Unknown are trying to pretend it is RM 0.00 but that is bullshit.

    6. Nay, it is not bullshit. I can read the balance sheet very well. But apparently not you, and all you could do is fanning speculation and casting aspersion on Najib, which is strictly forbidden by all religions and atheists too. Sodomy is a fact and RM31.5 billion is a fact. Similarly, LKS liking Mahathir's and Anwar's asses is a fact, but you are trying to pretend all that are bullshits. Myopic?

    7. 1)RM31.5 billion forex loss, said a concocted & shambles-induced report!

      2)The forex loss was a gamble went haywired through greed & ignorance.

      The country lost but any individual person gained handsomely? Ada 3rd party bukti ke?

      Wakakakaka...if the gambling worked, the treasury coffer would be fatten by hundreds of billions!

      3)1MDB debacle's loss is still counting. The eventual total would be more than RM42 Billion! It's PURELY an orchestrated piggy bank heist due to a kleptomaniac.

      The country lost & a few fat cats r trying very hard to ride into the sunset with that ill-gotten gains!

      It's a one way cash traffic to a person. The treasury gains NOTHING but has contributed seed money.

      Just like all those umno scams throughout the bolihland history.

    8. Man, I was running my own business, managing a swim or sink balance sheet when most of you were still wearing kain lampin or diapers.

    9. Man, I use to tutor MBA students in Management Accounting. From my observation, 1MDB is in an encouraging position as the engine of growth of the country, apart from our oil and gas industry which we still has got plenty of reserves. Arul Kanda is doing a great job.

    10. Walau-eh...must be tutoring MBA students in Management Accounting in that slow learner institute le!


      How could 1MDB is in an encouraging position as the engine of growth of the country WHEN it's incurring humongous debts at rediculous rates & commission? Some more disguised as a sovereign fund!

      Tau APA tu sovereign fund ke?

      More so when the ONLY asset were lands (rakyat's) transferred at dirt cheap rate & re-evaluated & extrapolated multiple times to inflate as seed paper money!

      What engine of growth? Edra Global Energy? Wakakakaka...

      BTW, our current oil reserve is now of no significant contribution. Whereas the gas has been pawned long term to the Jap at a token rate by Mamak.

      If it was not due to Hassan Merican's foresight in investing in oversea oil/gas explorations/ventures during his tenure as Petronas md, Petronas would be like Pertamina Indonesia now!!

      Ooop..why should I teach u about management accounting 4 when u DONT even fathom 1!

      Snake oil seller turns mba tutor, wakakakaka.....

    11. my dear CK, I find your tone, rudeness and use of crude language to be near the stage of being 'insufferable'. my blog is more appreciative of civil tongued visitors. Thank you

    12. my simple understanding of bs is debt is mostly genuine, cant tell the rest especially investment n those base on valuation.

    13. Rudeness & crude??

      So u can tolerate racist, religious upmanship disguised in flowery language!

      Sometimes truth has to hit hard in order to be noticed!

    14. What did they say? Kepala bapak kau! Kurang ajar?

    15. That's why u sokong pink-lips lah!!

      Kurang ajar as in propagating fitnah?

      Creating extrapolated supriority?

      Slumbering in that ketuanan cocoon for that bumi seronok wet dream?

      Cari kaca lah, pemohong!