NUCLEAR POWER

1. With the price of oil going up higher and higher, many in this country are thinking about power generation. At one time the Malaysian Government had decided on a four fuel policy for the generation of electric power. We wanted power plants to use either fuel oil, gas, coal or hydro power. We had excluded the use of nuclear power.

2. Why did we reject nuclear power?

3. I am not a nuclear scientist but I believe I know enough of the dangers of using nuclear (fissionable) material.

Continue reading NUCLEAR POWER

MAHATHIRISM

1. One way of demonising an opponent, particularly a political opponent, is to give him a derogatory label.

2. At one time Lee Kuan Yew labeled me as a Malay ultra. After that caught on, I could do nothing that would not be labeled as extreme. Even if I make the most innocent statement, it would be considered as extreme, as racist.

3. It took me decades to live it down. When I was appointed Deputy Prime Minister there was consternation among the Chinese. What was going to happen to Malaysia when this Malay ultra took over the Prime Ministership?

Continue reading MAHATHIRISM

DANA LINDUNG NILAI

(Ini adalah rencana bersiri
mengenai aliran semasa yang membawa kepada krisis kewangan masakini. Rencana
asal di dalam bahasa Inggeris telah disiarkan di dalam blog ini pada Mei 4,
2009)

 

1. Perniagaan
yang dilakukan oleh dana lindung nilai (hedge funds) adalah lebih kompleks.
Tetapi mereka juga boleh meminjam dari bank sehingga 30 kali ganda nilai wang
pelabur yang mereka pegang. Dengan itu mereka mampu memberi keuntungan kepada
pelabur hasil dari melabur 30 kali ganda dari wang yang dilaburkan. Selepas
membayar faedah kepada bank dan komisyen pengurusan, pulangan kepada pelabur
dari 30 kali ganda pelaburannya tentulah amat besar – jauh lebih besar jika
pelabur sendiri melakukan pelaburan secara terus dengan modalnya sahaja.


2. Adalah dianggarkan 8,000 dana lindung nilai (hedge funds) menguruskan
sejumlah 620 ribu billion dollar (620,000,000,000,000 dollar Amerika).
Begitulah permainan mereka sehingga pelabur diyakinkan dengan keuntungan besar.
Cara mereka melakukan pelaburan kerapkali diselubungi rahsia. Pusat kewangan
bebas cukai luar negeri (offshore) kerap digunakan dimana mereka tidak perlu
menyerahkan akaun mengenai perniagaan mereka yang meragukan.


3. Negara-negara miskin tidak begitu terlibat didalam perniagaan yang meragukan
ini dan petunjuk-petunjuk ekonomi mereka adalah lebih tepat.

Continue reading DANA LINDUNG NILAI

PERDAGANGAN MATAWANG

(Ini adalah rencana bersiri mengenai aliran semasa yang membawa kepada krisis kewangan masakini. Rencana asal di dalam bahasa Inggeris telah disiarkan di dalam blog ini pada April 28, 2009)

1. Perdagangan matawang merupakan satu lagi penyumbang palsu kepada kemewahan negara-negara kaya. Perniagaan ini sekali lagi melibatkan wang yang tidak ujud. Bank akan pinjamkan sehingga 30 kali jumlah wang pelabur yang dipegang pedagang. Sekali lagi pinjaman diujudkan oleh wang rekaan bank. Begitu juga dengan wang pelabur jika ianya dipinjam dari bank.

2. Pinjaman yang besar oleh pedagang matawang membolehkan mereka memanipulasikan pasaran; menolak naik atau turun nilai matawang. Apabila nilai matawang bertukar peniaga mengaut untung. Kerana peniaga matawang mengawal beribu billion dollar, keuntungan mereka amatlah besar, dan begitu juga dengan dividen yang dibayar kepada pelabur.

3. Perniagaan matawang dianggarkan 20 kali lebih besar daripada jumlah keseluruhan perdagangan dunia. Pulangan ke atas setiap dolar yang dilaburkan akan lebih tinggi berbanding dividen daripada pengeluaran dan perdagangan barangan dan pemberian perkhidmatan. Dengan itu pelabur dan peniaga akan mendapat perolehan yang lebih tinggi daripada jangkaan sekiranya mereka melabur hanya modal yang ada pada mereka.

Continue reading PERDAGANGAN MATAWANG

PETUNJUK EKONOMI DAN KEKAYAAN NEGARA

(Ini adalah rencana pertama di dalam siri mengenai aliran semasa yang membawa kepada krisis kewangan masakini. Rencana asal di dalam bahasa Inggeris telah disiarkan di dalam blog ini pada April 23, 2009)

1. Kita semua percaya bahawa negara-negara masyhur yang maju ekonominya memperoleh kekayaan menerusi pengurusan ekonomi yang pintar dan kemahiran dalam perniagaan. Mereka juga ternampak berjaya mentadbir negara mereka dengan baik.

2. Mereka telah mengadakan pelbagai petunjuk untuk menunjuk tahap kekayaan yang telah mereka capai. Dengan riaknya mereka membandingkan petunjuk-petunjuk ini, terutamanya pendapatan per kapita dan Keluaran Dalam Negeri Kasar (KDNK), dengan negara-negara miskin, untuk menunjuk bagaimana cekapnya mereka dalam menguruskan ekonomi mereka. Yang miskin tetap miskin kerana tidak belajar bagaimana untuk uruskan ekonomi negara mereka. Mereka ini boleh dianggap negara mundur.

3. Dakwaan negara kaya bahawa mereka begitu cekap dalam mentadbir dan mengurus hanyalah separuh benar. Benarlah mereka pengeluar barangan, pembekal perkhidmatan dan berdagang di dalam dan di luar negara. Tetapi kekayaan mereka daripada aktiviti-aktiviti ini tidaklah sebesar sebagaimana yang mereka gembar-gemburkan. Jika per kapita dan KDNK mereka berdasarkan hanya kepada perniagaan yang sebenar ini, mereka tidaklah sekaya seperti yang didakwa. Sudah tentu Amerika Syarikat dan Britain akan hampir bankrap.

Continue reading PETUNJUK EKONOMI DAN KEKAYAAN NEGARA

BOSNIA-HERZEGOVINA

1. Kita sudah lama tidak mendengar laporan berkenaan Bosnia-Herzegovina (BiH). Pada satu ketika nasib orang Bosniak, iaitu orang Islam Bosnia, yang mengalami penghapusan etnik oleh orang Serb amat menyayat hati kita.

2. Kita telah beri sedikit bantuan yang amat dihargai oleh orang Bosniak. Mereka anggap orang Malaysia sebagai sahabat karib mereka. Ramai juga yang menuntut di Universiti Islam Antarabangsa dan mereka memegang jawatan penting dalam Kerajaan BiH, termasuk Duta Besar Bosnia ke Malaysia.

3. Orang Bosniak adalah orang bangsa Eropah dan bukan orang keturunan Turki. Di Eropah hanya orang Albania dan Bosniak sahaja yang beragama Islam. Mereka memandang tinggi terhadap Malaysia.

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THE INDICES

(This is the conclusion to the series on the trends that led to the present financial crisis)

1. I have listed and explained a little on five schemes for making money out of non-business. The amounts of money involved in these money make money schemes are huge. The hedge funds alone handle 620 trillion dollars. The trade in currency involves 20 times the value of total world trade.

2. These money make money schemes are huge and the earnings of those who manage and invest in these schemes are equally huge.

3. They are not business because they produce nothing and they supply no services. They also create hardly any employment, nor spin off other productive business.

Continue reading THE INDICES

THE PYRAMID SCHEME

(This is the fifth instalment in a series on the
trends that led to the present financial crisis)

 

1. Then there is the pyramid or
Ponzi scheme. Bernard Madoff was only exposed after he lost 50 billion dollars of
the money invested with him.

 

2. The operation is simplicity
itself. The operator simply gives back a percentage of the money
“invested” with him as dividends. If he pays a dividend of 20 per
cent he would finish the money in five years.


3. But as more and more new investors invest with him, he would be able to pay
the dividends long after the earlier investors had got back all the money they
had invested. Besides the investors would continue to invest more as they
receive the high dividends.

Continue reading THE PYRAMID SCHEME

THANK YOU!

My blog became one year old last week. (The first posting appeared on 1 May, 2008).

It had been an exciting journey to be able to share my thoughts with so many who had taken time to visit and comment on my postings.

When I first started blogging, I was merely trying to find ways of expressing myself after being blocked by the mainstream media.

I did not expect to receive such high hits (to date it is 18,710,769) and such thoughtful comments. I have tried my best to respond to these comments. But the commenters must know there are too many.

There had been times, especially when I was travelling, when I found it to be quite difficult to keep up with the postings but I am glad that I had managed to ensure my blog remains active.

I have to thank visitors and commenters for their continued support. Without that, I would not be inspired to continue blogging, at least not at the pace that I do.

I hope to be able to continue with my blogging and I also hope that your support will keep on coming.

Thank you.

THE HEDGE FUNDS

(This is the fourth instalment in a series on the trends that led to the present financial crisis)

1. The business done by the hedge funds are more complex. But they too can borrow up to 30 times the investors’ money they hold. They are therefore able to earn for the investor the profits from 30 times the investors’ money. Even after paying interest to the banks and taking their share or commission, the earnings to the investor from 30 times his money would be very big – certainly far bigger than if the investor were to invest directly himself.

2. It is estimated that the 8000 hedge funds manage a total of 620 trillion dollars. Such is their game that the investors are assured of high profits. How they invest is often shrouded in secrecy. Much use is made of tax haven where they need not submit accounts of their shady business.

3. The poorer countries are not much involved in the shadow businesses and their indices would reflect their economy much more accurately.

Continue reading THE HEDGE FUNDS