RM4.78 TO THE USD - JUST LET IT GO

 

OutSyed The Box

Thursday, February 15, 2024

RM4.78 TO THE USD - JUST LET IT GO

 

The Ringgit has hit RM4.78 against the US Dollar today.

 

 

Here is the real danger folks, Some morons who do not know anything about business or finance are making suggestions that Bank Negara's OPR be increased again from its present 3%.

And why do they want to do this? Because they are beginning to look stupid. They dont know how to manage the economy. So to save their faces from embarrasment they are suggesting that the OPR be increased which will help to strengthen the Ringgit. (Yes I read that really stupid "OPR theory" that is going around - written in Malay).

These fellows are real morons. But the OPR was already raised by 0.25%. And it has not helped the Ringgit. The Ringgit is still dropping even AFTER the OPR was increased. How do you explain that? What makes you think that raising the OPR again will strengthen the Ringgit?

This is NOT the US economy or the Japanese economy. In the US and Japan there are no rice import monopolies, GLCs and other moronic players. The Japanese Yen has also fallen against the US Dollar but Japanese are now the world's largest investors in US Dollar Bonds. Japanese hold over US$1.1 TRILLION worth of US Treasuries. And the Japanese are earning 5% interest on their US T-Bills. No way are the Japanese in a weak position. 

So morons, please do not compare Japan and the USA with Malaysia. What is wrong with you? Kampong Pisang and Wall Street jauh lah.

If the OPR goes up another 0.25% I can imagine the monthly bank instalments may increase by another 13%. This is what happened to our loan repayment the last time the OPR was increased. The monthly payment jumped by 13%. Meaning you are willing to sacrifice the economy just to avoid looking stupid. But you are already stupid, stupid. How are you going to change that?

Playing with this, playing with that, adjusting this, adjusting that is not going to fix the economy or the Ringgit.  The economy needs real structural change which your otak Kampong Pisang is not capable of figuring out.

Just go and deliver some food on your motobike ok.