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Ringgit rout

Large foreign holdings of bonds make Malaysia highly vulnerable to capital flight, while weak fiscal position and political turmoil add to risk.

Bangkok Post Pathom Sangwongwanich

A perfect storm is forming around the Malaysian ringgit, as its value remains at risk from a protracted economic slump aggravated by a domestic political scandal and the prospect of rising US interest rates.

But the distress does not stop there, as a currency sell-off in Malaysia could have a contagious financial spillover on neighbouring economies, sparking capital outflows and compounding financial volatility.

The rest of the article at http://www.bangkokpost.com/business/news/1180901/ringgit-rout.

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We are back !!!

Alhamdulillah we are now free to move forward. InsyaAllah we shall have the systems working in a short while.

May Allah make it easy on us.

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Legally Gold

Akta Kawalan Pertukaran 1953 (Semakan 2007) menyebut:

Pursuant to the Exchange Control (Gold Exemption) Order 1986, residents and non-residents in Malaysia are free to buy, borrow, sell, lend or export gold.

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The Death of the U.S. Dollar and the Collapse of all other Fiat Currencies

IMF’s Christine Lagarde

As we predicted months ago, the IMF officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket.
According to Reuters, this move paves the way for the IMF to place the yuan on a par with the U.S. dollar. This is the latest in a series of global developments that threatens to eliminate the U.S. dollar as the world’s reserve currency. Experts predict this announcement will trigger one of the most profound transfers of wealth in our lifetime. So if you want to protect your savings & retirement, you better get your money out of U.S. dollar investments and into the one asset class that rises as currencies collapse.

The IMF Holds Supreme Power

The International Monetary Fund, or IMF, is one of the most secret...

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The True Reason behind The 40-Hour Work Week and Why We Are Economic Slaves

What is the true reason behind the 40-hour work week?

Economic slavery, or wage slavery, refers to one’s total and immediate dependence on wages to survive.

Although people throughout history have had to work to get by, we now live in a culture where we are led to believe we have economic freedom, when unbeknownst to most citizens, we are in fact bound in servitude. We automatically accept a 40-hour workweek with meager hourly pay as normal, even though many work overtime and still struggle to survive. There are also those who make enough to live comfortably but are unable to request less hours—you either work 40 hours a week, or you don’t get to work at all...

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Cash, Bail-ins and Banks insolvency

When Cyprus banks were about to go belly up a couple of years ago, they saved themselves by raiding customers’ accounts, which is more palatably described as a bail-in.

The reaction of global savers to this action by the Cyprus banks was one of horror and revulsion – and they made it plain that they weren’t going to stand idly by and watch banks plunder their funds. They would withdraw them as cash if any such threat should appear over the horizon. This reaction set the great minds of the banking community to work on how to stop savers withdrawing their funds in the face of these threats. The solution was and is simple – abolish cash!

The solution was and is simple – abolish cash!

Thus we have seen production of the 500 Euro note in the European Union stopped…so that it gradually ...

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ATURAN-ATURAN AKAUN SIMPANAN KHAS TUNAI DAN AKAUN SIMPANAN UNIT EMAS KOPERASI AZ-ZAHABI SELANGOR BERHAD

Tajuk dan mula berkuatkuasa

  1. Akaun Simpanan Khas ini bolehlah dinamakan Simpanan Khas Tunai dan Unit Emas KAZSB dan hendaklah mula berkuatkuasa penggunaannya pada tarikh yang diluluskan oleh Mesyuarat Agung Tahunan Pertama.

Tujuan

  1. Tujuan utama Akaun-Akaun Simpanan Khas ini diwujudkan adalah sebagai pematuhan kepada UUK Koperasi seksyen 55(1) ke atas simpanan khas ahli yang berbentuk tunai dan unit-unit 0.1 gram emas 999.9.

Tafsiran

  1. Di dalam aturan-aturan ini, melainkan jika konteksnya menghendaki makna yang lain:-

“Ahli” ertinya seseorang yang diterima menjadi ahli mengikut Undang-undang Kecil Koperasi dan layak mengikut Aturan-aturan ini.

“Aturan-aturan” atau “Aturan-aturan ini” ertinya Aturan-aturan Simpanan Khas Tunai dan Unit Emas KAZSB.

“Pemodal” atau “Pendeposit” ert...

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The Crash is Coming

201611-stock-market-divergence-i

The Green will crash and drag the Blues down to the Reds.

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The Silver Story


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‘X’ Marks the Spot Where Inequality Took Root

In 2002, I heard an economist characterizing this figure as containing a valuable economic insight. He wasn’t sure what the insight was. I have my own answer.

The economist talked of the figure as a sort of treasure map, which would lead us to the insight. “X” marks the spot. Dig here.

The graphic below tells three stories.

First, we see two distinct historic periods since World War II. In the first period, workers shared the gains from productivity. In the later period, a generation of workers gained little, even as productivity continued to rise.

Figure 1: The X marks the spot where something happened.

Figure 1: The ‘X’ marks the spot where something happened in the mid-1970’s.

The second message is the very abrupt transition from the post-war historic period to the current one...

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