1. The Malaysian Ringgit has appreciated after control was removed. It is now stronger against the US Dollar by approximately 20 per cent.
2. What does this mean to the people? It should result in imports becoming cheaper if not by 20 per cent at least by some percentage below that.
3. But I don’t think Malaysian imports paid for in US Dollars is noticeably cheaper in Ringgit. Why is this so?
5. It takes a long time before the strengthening is substantial as to affect costs of imports or exports.
6. Under this circumstance the depreciation in price of imports cannot be monitored. Despite an appreciation of the Ringgit against the US Dollar by 20 per cent, there may not be any change in the price of imports in Ringgit. In some cases the price might increase.
7. It is only when Malaysians travel abroad that they may feel richer due to the appreciation of the Ringgit.
8. But if the rate of exchange is controlled, then it will be possible to monitor the prices of major imports and their retail prices. Sugar, flour, components for manufacturing industry, petroleum products and even manufactured goods should be cheaper in Malaysian Ringgit when it appreciates and dearer when it depreciates. If through control we strengthen the Ringgit by 20 per cent then we should be able to enjoy imports cheaper by about that percentage.
9. If the Ringgit is controlled, how should the Government determine the exchange rate of the Ringgit at a given time. In 1998 the Ringgit was fixed at RM3.80 to the US Dollar because that was roughly the rate of exchange of the currencies of our neighbours against the US Dollar. We did not want our Ringgit to be too strong compared to the currencies of our neighbours. We wanted to remain competitive.
10. An appreciation of 20 per cent to the 1998 exchange rate would be about equal that of the current appreciation of the Thai Baht.
11. When to fix the new rate is dependent on the behaviour of the currency of our competitors. We should avoid small increases or decreases but should wait until the gain or loss would be around 10 per cent. Prior to doing this we should monitor the prices of our imports and exports. When we announce the new rate we can determine the gain or loss by the importers, wholesalers and retailers. The prices can then be calculated and any gain passed on to the consumers.
12. That is the advantage of currency control over free float even when managed.
13. It is strange that at the time when many countries have decided on currency control Malaysia is thinking of freeing the Ringgit from any control.
POLYMER-ENCASED GOLD DINAR & POLYMER-ENCASED SILVER DIRHAM
http://forums.collectors.com/textthread.cfm?catid=23&threadid=798989
The future of currency?
Dear Tun,
Why not take this chance let the hot money flow in and grab this opportunity. Our people is smart enough, our foundation in education is top class, people here would appreciate the development of countries by using these hot money which flowing in.
Development should be done asap ie in 5 yrs time, and then measures such as tightening should be proposed by then. Make some false bubles in between so these traders are well aware of, but make sure it is always progressing.
We should use this opportunity to buy votes, seriously..if BN were to win in next election, tightening the tap water would be a great mistake as PR now is getting strong support from the Chinese community whereby the Chinese are only FOCUS in MONEY AND DEVELOPMENT.
Chinese has reach a state where they are hungry for economy boom, make some boom for them…don’t be so conservative in this dire state.
Dear Tun,
If we allow our currency to be devalued by foreign currency speculators and in so doing improvise our own citizens..then there is only one word to discribe this action…ZALIM.
We sincerely hope that our goverment do not act in a way that can cause keZALIMan to it own people.
Do we really need to float our currency freely? Will the benefit we get out weigh the RISK of kezaliman? Have we considered other options? Are we using a anitquated and dysfunctional international financial model?
May Allah guide us.
Dearest Tun
May I..
// By zamanAuthor Profile Page on November 27, 2010 11:05 PM
….Teruskan JEMBATAN BENGKOK.
Kita tengok sahaja Korea Selatan dan Utara,pasal kedaulatan mereka sanggup berperang.
Lihat sahaja China dan Jepun begitu juga.
Apa sebab nya JEMBATAN BENGKOK takboleh di bina….//
saudara zaman
1-Jadi bagi pandangan saudara adalah wajar untuk kita berperang dan berkorban jutaan jiwa kalau perlu sekadar untuk membina Jambatan Bengkok ini?Sebab kedaulatan?… tiada Jambatan Bengkok tiada kedaulatan?Hebat betul Jambatan Bengkok ni…
2-Matlamat utama pembinaan Jembatan Bengkok ini ialah untuk membolehkan kapal kapal melalui selat Tebrau dan ini berpotensi memajukan pelabuhan 2 Tg Pelepas dan Pasir Gudang disamping boleh memulihara ekologi Selat Tebrau dari pencemaran laut akibat air yg tersekat oleh Tambak kini.
3-Pada masa yang sama kejayaan pelabuhan2 ini nanti pasti akan menggugat ekonomi Singapore jadi kemungkinan mereka akan menghalang pembinaan jembatan bengkok ini adalah sangat tinggi sekali.
4-Persoalan nya adakah seandainya berlakunya perang besar2an untuk mempertahankan kedaulatan ini,adakah pasti kita boleh menang dengan senang dan melibatkan kehilangan jiwa yang sedikit?
5-Sudahkah kita mengkaji kekuatan Singapore dan siapakah sahabat2 mereka yang tidak mungkin berdiam diri seandai nya kepentingan bersama mereka akan tergugat?
6-Kita ni dah miskin dan terdesak sangatkah sehinggakan kita tidak boleh memikirkan cara lain untuk menjana kekayaan sehingga kita perlu untuk mencari masalah dengan Singapore?
7-Kalau tiada Jembatan Bengkok Malaysia akan menjadi miskin dan rakyat kebulurankah?
8-Biarlah negara2 lain terus dalam sifat dikawal shaitan untuk berperang dan berbunuhan atas nama kedaulatan ke apeke,Malaysia seharusnya menunjukkan pendirian aman kita dan akan terus memileh untuk berdamai selagi boleh demi mencari keridhaan Illahi.
9-Ini adalah pandangan saya.Mungkin saya salah.Ape ape pun saya bersetuju dengan pembinaan Jembatan Bengkok ini kalau pasti tiada risiko peperangan.
Thanks Tun
I still believe exchange control is critical tool to monitor the balance of payment and the domestic economy. It has been proven during the economic crisis in 1997/98. Now it is a sign that the second economic crisis will come again if we do not do anything on the capital control policy especially when we have removed the “fixed exchange rate”. Our currency has appreciated againts the dollar in abnormal move. A lot of hot money coming to the country and buying stocks and the government bonds. I believe, if Tun Dr Mahathir is the Prime Minister, he will take action NOW, not until the economy is getting worse.
IslamicEstatePlanner
As continuation to my previous comments posted on this forum on November 28th, I would like to further add that fiat money have been and shall continue to be the unique financial tool of the evil Globalist Forces (Elite International Bankers) to acquire control of all sovereign nations on the face of this planet and ultimately the control of the whole of mankind.
In this day and age, just about everyone on the face of this planet needs money to sustain their livelihood and perhaps even their lifestyle. The average man needs money to sustain their daily living, whilst there are forces who controls the issue and flow of money within nations and even much greater forces who controls the flow of money…, internationally.
To put it simply, ask any Average Joe whether he will take a huge gold-bar ingot (which has real intrinsic value) worth (say) a million US Dollars placed on the table in front of him, or whether he will instead take cash paper money in (say) USD 1,000, 000/= value (which is actually fiat money) in a briefcase placed in front of him. And do not be surprised, but chances are that most of the Average Joe will surely grab the USD 1,000,000/= paper money, without even giving it any second thoughts. That
Dr M, your economic policies have always been mainstream economics customized to local needs. Much like china’s ‘socialism with asian characteristic’. However fixed currency is n will remain a silly theory as proven by history (gold standard) and the present (Euro, same currency differing economic strength within a single market). I never understand why you love to support fixed currency regime time n again (dinar etc)
i believe currency control can prevent or reduce people from playing with financial tools in order to make quick money. money gain from forecast like such is the same as gambling and will make some very rich while many others poor and in essence does not build economy or the world better.
however, it is not easy to overcome greed and those make money from forecasting may disagree when it is said they are not doing good and in fact doing bad. the people forecasting are also quite many as gambling is attractive business. ever wonder why casino is so lucrative?
it is right what tun have in mind but not an easy one to convince. economic theory of currency if viewed scholarly will not yield the same perspective as what tun trying to advice but instead only make those with apt for the subject argue and those less familiar confused. but be forewarned tun had said this during his lifetime.
Obviously our current leaders is no expert in economy.
Assalamualaikum Tun,
1. If benefits from the currency exchange rate somehow hit the shores, the importers and big traders will be among the firsts who benefited from them. Keeping the benefits to themselves or spreading the benefits to the general public is another thing. In ensuring general consumers benefiting from it requiring the importers to be transparent and be
Dear Tun,
May you always be in good health.
1. There is an advantage when Ringgit is stronger against US Dollar, or some would say, when US Dollar is weaker against Ringgit.
2. Malaysia should not increase its imports on finished products. Finished products have no much value towards Malaysian economy. Most of these products will end their journeys at the hands of Malaysian consumers. Therefore, the lift of taxes on certain imports as mentioned in the recent budget document will only stimulate transactions up to a limited extent.
3. Comparatively, raw materials and technologies will contribute much to our economy. Goods produced from the raw materials using advanced technologies could be sold both locally and overseas, and thus, increasing the Gross National Income (GNI). Given the present currency exchange, Malaysia should seek raw materials and technologies from the USA.
4. Congratulations to Dr Rebecca Sta Maria for being appointed as the Secretary General of the Ministry of International Trade & Industry. With all the non-Malay senior directors in its International Trade Division, I would humbly say that it is the peak of non-Malay domination in the said ministry.
5. The role of International Trade Division in MITI is to handle negotiations with other countries, be it bilateral or multilateral. We often hear the word
Salam Tun yg di hormati,
1. Kita kena KAWAL supaya nilai ringgit mengikut citarasa kita.
2. Kita kena KAWAL supaya minda orang Malaysia mengikut telunjuk kita.
3. Kita kena KAWAL supaya pemikiran ran Melayu menyokong perjuangan kita.
4. Kita kena KAWAL supaya pemahaman penduduk Malaysia mematuhi peraturan kita.
5. Kita kena KAWAL supaya tingkah laku orang ramai mengikut disiplin kita.
6. KAWAL , KAWAL dan KAWAL.
Salam Tun,
Tun you told us years ago that fiat currency has no intrinsic value. These fiat currencies trillion in the market should be replace by gold dinar and silver dirham. Pegging or unpegging does not make any different the finacial/currency problem is so accute that there is no stopping of the currencies to evaporate. Give the people the choice of real money return the dinar and dirham to them.
Salam Tun,
Thanks for bringing up an interesting subject again. Currency matters affects everybody, its worth commenting for everyone knowledge and also for the authorities to manage the Malaysian currency – i.e. to float or to fix.
Both have its advantages and disadvantages. The choice to float or to fix is the solution to a problem at a particular time. During 1997 crisis, it is good to fix, the currency speculators had suffered millions when you fix the currency, they are unable to get our of their position in time, they are force to liquidate their currency position, hence made lots of losses. Today the problem is different, there are no speculators of currency, the problem arise from managing successful economy. With good economy the Malaysian ringgit had been highly demanded therefore increase in value. what are then the implications of high ringgit value.
Go to Low Yatt Plaza, talk to the retailers. They complain of bad business due to high ringgit value. The Arabs used to purchase lots of items, but not anymore, asked them why, the Arabs complain of high Ringgit after converting from USD, they get Ringgit lesser by 20%. For the same USD amount they can buy same things from others countries. So Malaysia losses. How much is the value of the tourist money here….its Billions of Ringgit…more than RM25 billion last year. Facing this situation, should we continue to float our currency, we will lose. Look at China, US government had been telling them to revalue their currency, but China just drag their feet. They want to collect as muich foreign currency reserves which is in US currency, and they now had collected trillion of US Dollar reserves. What can they do with the reserves, they can lend to Malaysia to finance Penang second bridge. How does US government reacts to this situation, since other countries wants US Dollars as thier reserves, US government starts printing US currency without any fundamental value. With effect from last month they are printing USD600 billion for the next 6 months, use the money to buy all US Dollar bonds, thus releasing the paper money into the market. So China take it.
What abour Malaysia as an exporting country, our goods will be more expensive, our factories will close sooner or later. At RM3.80, our factories had been closing down to relocate in Thailand, Vietnam and China, what if exchange value is at RM3.10, more factories will close down, more jobs will lose.
Its time to fix again, because US government is not playing to the rules, producing fiat monay. Let all countries fix, see what happens to US economy.
Salam Tun,
Tolong buat poll mengenai Jambatan Bengkok Tun. Saya nak undi pilihan saya. Since blog tun ramai malaysian visit saya nak tgk benarkah ramai rakyat Malaysia yang nakkan Jambatan Bengkok menggantikan Tambak Johor. So, nak bagi tau govt yang saya punya pilihan. Harap dapat pertimbangan Tun. Terima Kasih! Semoga Tun dan keluarga sentiasa dalam rahmat Allah S.W.T. Amin.
Dear Tun,
Nothing strange at all. The govt. is learning the trick from you. Remember when the rest of Asian countries accepted IMF bail out offer you bluntly say no. You had other plans to counter the financial crisis which was affecting our country during that time.So now Najib is trying to emulate as what you did before. This time around is the reverse of what you had done to our currency.Correct me if I am wrong.
In America tend to live in a mindframe of scarcity which is an inherent byproduct of our debt driven currency system because there’s always someone who doesn’t have the money to cover their portion or the debt and interest owed on the dollars in circulation. This mindframe extends beyond money and ultimately translates into a me first mindframe on some level for most citizens.regards money here http://www.slimberrypro.com/mudahjer&t=tun
The problem with the human race is that it the only specie of creatures that is too smart for their own good. Humans have been endowed by God-Almighty with two of the greatest gift to mankind
Tun, kesimpulannya tambat aje ringgit mcm dulu tu.
Tapi masalahnya mungkin kerajaan kita skarang tak berani sbb bila tambat ringgit to US dollar, eksport kita consistantly mesti melebihi import sepanjang masa.
Atau ada sbb2 lain yg ditakutkan. Saya sokong ditambat aje duit ni. Senang nak baniaga.
Salam Tun.
The PKR president has said it – that her husband is a godsend (so as to be in collusion with the foreign currency & stock market manipulators to create/cause large group of penniless Malaysians, to surround him with young good-looking male lieutenants, and to establish a large army of slanderous ‘I can be fool them all of the time’ supporters which is starting to dwindle).
She will do/agree to whatever for the husband, in the same manner Pak Dol entertained K’luddin & the budak KJ during his PM 5 days, all in the name of family unity.
Budak KJ has correctly said that PKR support will nosedive, but PM Najib will probably has to accept 2 PKR Malay MPs after the forthcoming PRU 13 (from Permatang Pauh & Rembau).
Pray to Allah that neither of them (Anwar and budak KJ) will ever get close to the Finance Ministry again. We’ll be much safer without them.
Tun, what is your opinion now that Sultan Johor wants the crooked bridge to complete?
Ayahanda Tun Dr.Mahathir Mohamad telah beberapa kali menegaskan bahawa satu pengajaran dari krisis 1997 – 1998 ialah kita perlu mempersiapkan dan memperlengkapkan diri supaya kita mempunyai daya ketahanan yang cukup kuat untuk menangkis dan menangani krisis-krisis kewangan dan serangan ekonomi yang berlaku pada masa hadapan. Kita perlu sedar bahawa kebanyakan krisis kewangan dan krisis ekonomi adalah di luar kawalan kita. Ia muncul dengan tiba-tiba dalam bentuk dan pola yang sukar diramalkan.
Apa yang penting, mengikut pendapat Ayahanda Tun Dr. Mahathir ialah jika berlaku krisis, kita mesti mempunyai keyakinan yang kuat untuk melakukan sesuatu yang dianggap mustahil, dengan syarat ia dilakukan untuk kepentingan rakyat keseluruhannya. Kita akan berjaya sekiranya kita bijaksana, berakhlak dan berani sepertimana yang ditegaskan oleh filasuf Kung Fu Tze: Yang bijaksana tidak keliru, yang berakhlak tidak gundah gulana, yang berani tidak gentar.
Satu lagi pengajaran, khasnya daripada krisis kewangan 1997 – 1998, yang selalu ditekankan oleh Ayahanda Tun Dr. Mahathir Mohamad, ialah proses globalisasi tidak semestinya membawa kemakmuran kepada kesemua negara di dunia ini. Di peringkat awal, pelonggaran halangan perdagangan, dasar perniagaan mata wang yang bersifat antarabangsa dan aliran modal jangka pendek yang tidak terbatas dianggap satu perkara yang membawa manfaat kepada negara maju dan negara membangun. Namun apa yang dianggap baik kepada negara maju tidak semestinya baik untuk negara membangun. Krisis kewangan, yang hanya membabitkan negara yang mengamalkan ekonomi terbuka, membuktikan tesis ini dengan jelas. Ini bermakna proses globalisasi yang dicanangkan oleh Barat perlu diselidiki serta dikaji secara halus dan bijaksana sebelum kita menerimanya bulat-bulat.
Ayahanda Tun Dr. Mahathir Mohamad telah menyedarkan kita bahawa kita tidak boleh berlapang dada dan merasa lega. Perjalanan kita masih jauh. Tugas kita masih banyak lagi. Kita perlu memakmurkan kembali Malaysia agar ia dapat mencapai taraf negara maju, membasmi kemiskinan hingga ke akar umbi, dan menjana satu budaya bangsa yang murni, sanggup bekerja keras dan sentiasa berusaha meningkatkan kualiti hidup untuk semua lapisan rakyat Malaysia.
Kejayaan kita dalam pertembungan antara globalisasi dan kawalan modal adalah satu pencapaian yang boleh kita banggakan, kerana kita, melalui kepimpinan dan kebijaksanaan Dr. Mahathir Mohamad, dapat mengelak daripada menjadi negara penerima Dana IMF. Tetapi kita harus bersedia setiap masa dan sentiasa beringat setiap waktu supaya krisis yang sama, sekiranya datang kembali, boleh ditangani dengan pendekatan dan langkah-langkah yang matang, kreatif dan bijaksana
Salam Tun & Fellow bloggers,
Dengan izin…
Simplified illustration of STOCK MAKET ……
In a remote village in India, a corporate guy offered to buy from the vilagers Rs10 for each monkey. The villagers were excited and started hunting for the monkeys. They earned good incomes as the result. The supply reduced and the guys then offered Rs20 for each monkey. This provided motivation for the villagers to work harder and managed to still earn but lower incomes. In “despration” to get supply from the depleted source, the guy then offered Rs60 for each and he had to go back to the city for a while and handed over the whole business to his assistant to handle. The villagers just found it difficult to hunt what more to get one monkey.
The Assistant then told the villagers not to worry and advised them that he was willing to sell all the monkeys in his keeping for Ra40 each and told the villagers to buy and sell them later at Rs60 each to the guy/boss when he returned. The vilagers were so excited and started to raised the money by various means to buy all the monkeys and hoping to sell them to the guy later and earned good profit.
After transaction completed with all the monkeys with the villagers………… the 2 guys never returned and never be found.
CAN WE NOW GET THE MESSAGE WHAT IS STOCK MARKET IS ALL ABOUT?
Good luck guys!
My Salam to Tun and Tun Dr Hasmah.
May you both be in the best of health.
The whole world knows how you saved this country from disaster during the economic crisis.
Thank you for your bravery and wisdom.
Salam, Moga Allah merahmati Tun Sekeluarga, untuk makluman saya biasa berurusan di sempadan Malaysia Thailand, dulu peniaga-peniaga siam terima duit Ringgit Malaysia tetapi sekarang duit Malaysia telah jatuh iaitu RM1 bersamaan TB 95 je menyebabkan peniaga-peniaga di sempadan Padang besar enggan terima duit RM, kenapa ini berlaku sedangkan di war-warkan RM tinggi berbanding Dollar , harap Tun dan pembaca dapat jelaskan , terima kasih
SalamSejahtera Tun dan Keluarga.
Tun perjuangan Mu belum Selesai.Teruskan JEMBATAN BENGKOK.
Kita tengok sahaja Korea Selatan dan Utara,pasal kedaulatan mereka sanggup berperang.
Lihat sahaja China dan Jepun begitu juga.
Apa sebab nya JEMBATAN BENGKOK takboleh di bina.
Kami Yakin dengan kebolehan Tun kami tetap menyokong.
SemogaTun di Rahmati Allah. Amiin
Free markets will not support any form of control. If your timing is right, it will look like you have made the right decision. All in all it still boils down to your financial skills and business acumen. You have to take the risk but it can still be a calculated risk and you can always minimise losses or maximise gains. You will face severe problems if your financial or business decisions is linked to your political or national aspirations.
Salam bahagia Tun.
I totally agreed with the pegging of the ringgit to counter the adverse appreciation of the world currency. It is an essential move for a vulnerable economy like Malaysia. By pegging the ringgit, traders and businesses can then not be worrying about its raw material prices and its selling price, and whether they will earn profit or incurred a loss in relation to the currency fluctuations. They can then focus their full attention into their businesses, and be able to made a decent living out of it.
Malaysian export businesses are and has been hard pressed to lower down their selling price of their products in order to compete with the likes of China and Thailand. They have quote prices based on former exchange rate, and also factor in a mere 5-10% currency fluctuations hedge on their business contracts. But with the current depreciation of the US dollars, they suddenly found that their once profitable business has now become now critically a loosing business. This is especially so for products that are 90% local sourced where the depreciation of the US dollars have no impact to the product’s raw material cost, at least in this 6 months to come. It will take months or even a year, for the raw material prices to come down (if it does), and by then, the currency may then be back to normal again.
Currency fluctuations is very disruptive to a business environment, especially for the local exporters.
So, by pegging the ringgit to a certain level, the businesses will then be able to find ways to work around the agreed selling price, and at the same time, be able to earn a calculated profit.
We cannot continue to let the ringgit appreciate further as our products will become more expensive, and it will be harder now to compete with China. Malaysia do not have the economic stamina to out last China. The more we import, the more outflow of our currency will be. Malaysians may enjoy cheaper products and better lifestyle products, but the good times will not last if the local businesses cannot able to generate foreign funds into Malaysia.
Salam.
Salam Sejahtera saya ucapkan kepada YTM Tun dan Mahabloggers sekalian,
Sebenarnya pada mulanya saya tidak mahu memberi komen berkenaan pendapat(an) Tun berkaitian isu kawalan matawang, ataupun lebih dikenali, sebagai “capital controls”. Tetapi setelah saya nampak terlalu ramai yang termakan dengan idea Tun ni, maka saya kenalah bangun untuk menjernihkan keadaaan.
Konsep yang diutarakan Tun tak lain tak bukan, konsep kawalan matawang iaitu harga pasaran ringgit berbanding matawang US Dollar ataupun Euro akan ditetapkan. Maka kalau kita membaca sekali lagi perenggan di atas, di antara Tuan tuan dan puan puan yang celik sudah tahu konsep harga tetap adalah konsep artificial. Konsep simplistik. Konsep yang tidak boleh diterima.
Ini kerana kalau kita menetapkan harga matawang Ringgit berbanding US Dollar, maka apa akan terjadi kepada harga matawang Ringgit berbanding Euro? Ianya akan turun naik, sama seperti kalau kita tidak menetapkan kawalan terlebih dahulu. Ini disebabkan dunia kian berubah, harga US Dollar berbanding Euro, berbanding Yen Jepun, berbanding Dolar Singapura akan turut berubah. Maka oleh kerana demikian, kerana kita menetapkan nilai matawang kita dengan menggunakkan dollar amerika sebagai asas, maka kita akan naik turun sama seperti harga dolar amerika berbanding Euro, Yen Jepun dan lain lain.
Maka dengan itu apakah kemudahan yang diterima dengan menetapkan kawalan kewangan ni? Saya tak tahu. Mungkin ianya memberi masa utk memperbaiki sistem perbankaan sesebuah negara dimana bank negara ataupun central bank dapat menjana ekonomi tanpa adanya keruntuhan nilai mata wang tersebut?
Akan tetapi, kita tidak lagi berdepan dengan mimpi negeri tersebut. Melalui sifat keserdehanaanya, mantan Perdana Menteri 5 telah berjaya membersihkan segala sisa sisa toxik dari sistem perbankaan dan mewujudkan sebuah sistem yang begitu kukuh, sehingga kita kini boleh bersaing dan matawang Ringgit sudah naik secara mendadak.
Maka setelah kita sudah melangkah keluar dari suatu peristiwa negeri kenapa kita hendak mengambil pendeketaan kurang macho dengan menggunakkan konsep kawalan matawang dan harga tetap. Biarlah pasaran antarabangsa dan domestik menetapkan harga matawang kita kerana kalau kita pandai menguruskan ekonomi, matawang kita akan naik dan rakyat akan bertambah tetapi kalau kita sebaliknya kurang bijaksana dalam tersebut, matawang kita akan turun dan rakyat akan menanggung kesusahan
Terima Kasih
Salam Yang Amat dihormati Ayahanda Tun.
Sudah agak lama saya tidak meninggalkan komen di blog ini, ini adalah kerana saya merasakan saluran ini hanya dapat melemparkan pandangan dan ia akan berakhir di sini sahaja walaupun terdapat pihak-pihak berwajib membaca dan mengutip segala idea dan pendapat bernas dan di jadikan hak atau modal untuk bercakap di sesuatu perhimpunan, perjumpaan, persidangan besar negara seolah-olah ia adalah hak “privilage” dirinya sendiri sedangkan apa isi sebenar tidak dapat di dalami dan di fahami dengan jelas dan terpeinci bagi melakukan tindakkan.
Adalah baik blog ini di jadikan bahan rujukkan tetapi bukan membuta tuli sedangkan sikap mengambil kredit ini berleluasa dan akhirnya akan membinasakan semua kerana kecetekkan pemikiran disebabkan sifat ini di kalangan pemimpin.
Saya cukup faham bahawa masih ramai pemimpin yang bijak dan masih terlalu ramai rakyat yang lebih bijak dari pemimpin tertentu jika dibandingkan dari segi bilangan…… Jadi saya sarankan agar sedarlah wahai pemimpin-pemimpin tertentu bahawa tanggongjawab yang diberikan oleh rakyat adalah satu amanah dan lakukan sejujurnya dengan penuh tawakkal..sesungguhnya Allah memilih kamu dikalangan berjuta orang yang lebih berkemampuan di luar sana kerana ini adalah amanah rakyat dan nikmat Allah serta nikmat ini jugalah adalah dugaan Allah.
Berbalik kepada soal kenaikkan mata wang, saya memang tidak arif berkenaan dengan isu ini, tetapi saya menyimpulkan bahawa jika kita di sebuah kampong dapat menjual banyak barang dari kampong kita keluar kampong dengan harga yang kompetatif, maka kemakmuran kampong kita akan bertambah. Tetapi jika kos pengeluaran kita tinggi oleh sebab nilai transaksi di kampong kita adalah dlm matawang yang tinggi, maka kemampuan kita utk mendapatkan pembeli dari luar juga akan berkurangan. Jadi, dalam keadaan sekarang… eloklah kiranya kita bawa teknolgi dari luar masuk kenegara kita kerana ini baik untuk jangkamasa panjang dan ini akan memakmurkan kampong kita.Apa yang lebih penting lagi ialah dalam masa ini lah kita patut memperkemaskan “standard” kita dan memperbaikki sistem nilai yang kita ada supaya kos sebenar dapat dikawal dan di tetapkan mengikut “standard” kita sendiri di samping para pemimpin kampong keluar menjalankan kerja yang lebih kuat memperkenalkan standard dan piawaian kita ke kampong-kampong lain.
Pergerakkan matawang yang diapongkan adalah menjadi adil jika semua kampong mengunakkan bentuk simpanan yang sama dan tidak terkecuali dengan mana2 kampong sekalipun.. jika ada sebuah kampong yang boleh mencetak wang sesuka hati dan ia di terima oleh kampong lain sebagai tukaran kepada nilai….. maka selagi itulah pengapongan ini adalah tidak adil dan terdedah kepada risiko sebab kita berada di era yang cukup global.
Jika kita tidak mengapongkan juga, kita akan menghadapi masalah yang sama kerana masalah krisis ketidakpercayaan terhadap kampong2 yang kita pilih akan terus berlaku dan akan menjadi lebih berisiko jika tahap ketidakpercayaan bertukar kepada tindakkan (walaupun ia agak sukar)
Maka, dalam keadaan sekarang…. kebijaksanaan pemimpin adalah penting dan keberanian bagi melaksanakan menjadi cukup kritikal sebab ia memerlukan persediaan yang cukup,amat,maha rapi dan penuh berhemah serta penuh keilmuan seta keimanan…
Wallahhuaqlam…
Salam,
1. ****Matawang ******
Dear Tun
Not that I condone this action, but pls give credit where credit is due. You have used fixed rate currency in 1998 while current PM is returning to currency floating. Hope this is due to intelligent decision.
When will the Ringgit achieve parity with USD?
QUOTE: We did not want our Ringgit to be too strong compared to the currencies of our neighbours. We wanted to remain competitive.
I am no expert in economics. In fact, I am so confused about the advantages and disadvantages of a strong and weak currency. Is a strong currency bad? If we don
Kita mahukan ringgt yang tinggi nilainya? Jawapannya ialah tidak.
Jika ringgit menjadi terlalu tinggi maka barang keluaran Malaysia menjadi terlalu mahal. Rakyat akan kehilangan perkerjaan sebab syarikat-syarikat akan tutup kerana negara lain tidak mampu beli barang-barang keluaran Malaysia yang terlalu mahal.
Apa pula akan jadi sekiranya ringgit menjadi murah nilainya? Tentunya kita membayar lebih untuk barang-barang yang kita import. Penyelesaian kepada import ini ialah agak mudah iaitu kita kena keluarkan sendiri apa yang kita perlukan.
Apa pun yang berlaku, seperkara yang mesti diutamakan(top priority) ialah sektor pertanian mestilah dilindungi(protected). Kita berharap dalam mana-mana FTA, kerajaan mestilah melindungi sektor pertanian kerana pertanian adalah survival sesebuah negara.
Azlan
KL
Dear Tun,
Congratulations for another superb write-up. Concise. Pertinent. Intelligent. Sincere and helpful. I sincerely believe no economist in the world can do better in the 13 points Tun has magnificently laid out. Undoubtedly Tun has become an expert in Economics especially with regards to currencies.
Tun, I salute you. You have left a legacy of priceless economic knowledge to posterity. Future generation will debate and fathom your complete and absolute undestanding of currency mechanism in International trade. In ialam, a muslim should strive to leave 3 things as legacy in his life. 1-pious children(anak2 yang soleh) 2. welfare and religious contribution(amal jariah) and last but not least 3. Useful knowledge(ilmu yang berguna).
Tun Dr Mahathir Mohammad, I, Mohd Amin Tan hereby confer upon you a doctorate in ECONOMICS.
May I suggest all readers of this excellent posting memorise every word of the 13 points.
I have nothing to add on such a beautiful writing. The writer is an economic genius.
To appreciate what Tun has just written about currency control, it is to curb fluctuation in exchange rates of ringgit malaysia. Extreme fluctuation in exchange rate is not conducive to stable international trade. Controlling exchange rate as Tun explained is quite similar to building dams or reservoire. The advantages are many. irrigation of land, prevent flooding and draught and generation of electricity.
Malaysia was lucky to have Tun Dr Mahathir Mohammad as our Prime Minister for 22 years. You have such sharp and clear thinking.
amin tan
Dearest YAB Tun,
1. It
No wonder the supremo currency trader can afford to caress Michelle’s shoulder at a public function.
“… the former Prime Minister
Assalammualaikum Tun,
Semoga sihat selalu,sebenarnya saya tidak begitu bijak dalam ha-hal ini.Tetapi ingin memberi sedikit pandangan saja.Pada pendapat saya ,apa yang Tun sampaikan disini agak menarik.Tapi agak sukar diterima pakai oleh sebahagian manusia yang tamak atau lebih mementingkan diri sendiri.Sepatutnya Malaysia sebuah negara Islam dan pemerintah dikalangan orang melayu Islam lebih mudah dalam melaksanakan hal sebegini.Sayang sekali kerajaan seperti takut untuk melakukannya.Konon ingin menjaga perasaan kaum-kaum lain dinegara ini.Hakikatnya kerajaan yang diteraju oleh melayu Islam takut pada bayang-bayang yangbtak pasti malahan segala saranan mereka kita seperti kerbau dicucuk hidung(maaf, jika agak kasar sikit)Tun, saya cuma ingin melihat negara kita berjaya dengan cara yang diberkatiNYA.Sedih sungguh bila mendengar diantara kita masih tidak ada persefahaman dalam menguruskan amanah yang diberikan…kita tak mahu perkara-perkara yang sebegini menghancurkan agama,negara dan rakyat Malaysia .Semoga kerajaan kita dapat membuat keputusan yang terbaik dan mengikut lunas Islam itu sendiri.
Sekian saja pendapat dari saya,harap maaf jika menyinggung perasaan sesiapa yang membaca.Salam buat Tun sekeluarga,semoga sihat dan sentiasa dilindungi ALLAH selalu..insyaALLAH.
Good evening Ayahanda Tun,
1. The Currency is not controlled and regulated by BN Malaysia since Malaysians are allowed to do currency trading through international brokers at their own risk management.
2. For exports and imports, they must go through banker(s) of their choice.
3. To transfer money of the country, Malaysians are required to declare to BN Malaysia through bankers.
4. For travelling purposes, Malaysians can change RM into and currency that they want in all licensed currency traders in Malaysia as cash on hand or they can use credit card of Visa or Master.
5. In Malaysia, it’s only few necessity items are controlled and subsidized by Kementerian Hal Ehwal Pengguna Dalam Negeri that contribute only to less than 5% of our average monthly income eg:- sugar, salt, chicken meat (other meats are not controlled), beras, tepung and etc; whether they are import or manufactured locally, and that’s why Malaysia Federal Government has set up its own MITI to regulate and monitor International Trade and Industry which contributes 30 – 40% of our GDP.
6. Averagely, Malaysians require to spent at least 50% – 60% of our monthly income on 2 necessity items, and that is landed property and
transport.
7. If Malaysia Federal Government is unable to stabilize and cool off these 2 items, I am afraid that our National Front’s Coalition will be voted out in GE13 and that is why under Malaysia Constitution; the rakyat have the choice to vote for good governance.
8. Malaysian politicians are bold (no brain lah, if they got brain; Mr Andrew and Cik bobo as Malaysians will not be landed in Australia teaching us how to be a good Malaysian citizens after 2007 Sub-prime MORTGAGE meltdown crisis) because they strongly believe that Government will never fail and always bail them out behind closed-door, hence they will just opt for mega projects that provide them big chunks of return that can serve them for 3 generations.
9. The following business news listed by The Star online on PM’s next move on mega projects by next week:-
A. Friday November 26, 2010
Jala: PM to announce new projects next week
B. KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak is expected to announce on Tuesday new development projects as well as several entry point projects that will boost the oil, gas and energy sector.
C. He (Najib) will announce some of the confirmed projects and provide updates on previous projects announced, Minister in the Prime Minister’s Department, Senator Datuk Seri Idris Jala, said at the 29th Majeca-Jameca joint conference yesterday.
D. Jala, who had presented a paper on the Economic Transformation Programme (ETP) earlier, was speaking to reporters on its updates and 2011 focus.
F. He said for next year, the focus would be on the roll-out of projects under the 12 National Key Economic Areas that were vital for the ETP. When we chose these areas, we believed they had competitive advantages and provided resilience to the economy in absorbing any shocks (bailout through back doors by making the rakyat to pay for the failed mega projects??), explained Jala.
G. Meanwhile, on subsidy rationalisation, he said the Government would make revisions at the right time and adjust it accordingly over time. Bernama
H. I think what we have done is to ensure we manage the liberalisation of the pricing based on market prices, he added.
I. Based on feedback, he said the public agreed to further subsidy rationalisation, only if the Government did it in small doses rather than big increases and over a longer time period. Bernama
J. When asked whether the review would be done every six months, Jala said: We will take it as we go along and inform the public with regards to how it is to be done going forward.
K. However, he added, it would not be announced in advance to avoid any distortion in the market, like the hoarding of particular items by some parties. BERNAMA
WILL GREATER KL BE INCLUSIVE HERE with the help of MIC to penetrate Asean whereby majority of their citizens are Buddhists in the time of CURRENCY WAR and slower growth in USA and Europe?
Goodnight Ayahanda Tun. I am sure you have the answer for the next 5 years in order to maintain BN as National Front’s Coalition.
SALAM BUAT TUN BERDUA MOGA DIRAHMATI ALLAH S.W.T
1) SIMPANAN RIZAB NEGARA ATAU SIMPANAN TETAP SEPATUTNYA DITUKAR KEDALAM NILAIAN EMAS BUKANNYA DALAM ‘DOLLAR AMERIKA’. NILAI DUIT KITA TINGGI TETAPI KALAU DALAM ‘DOLLAR AMERIKA BERAPA ?.
2) BUKAN BERMAKSUD KITA GUNA EMAS PULA DALAM MEMBELI BARANGAN. DALAM BEURUSAN KITA MASIH BOLEH MENGGUNA WANG RINGGIT KERANA IA SENTIASA BERGERAK DENGAN MELAKUKAN BERBAGAI TRANSAKSI.
3) SEKARANG DUIT KITA TINGGI JADI AKAN KERUGIAN UNTUK BARANGAN EKSPORT KALAU MENGGUNAKAN ‘DOLLAR AMERIKA’. DALAM KEADAAN NEGARA EROPAH JUGA MEROSOT SUDAH TENTU MEREKA AKAN MENGGUNAKAN ‘DOLLAR AMERIKA’ UNTUK MEMBELI SEBAB BOLEH DAPAT MURAH.
4) PIHAK INDUSTRI KITA KENA CERDIK MACAM PELABOR ASING, FIKIR MENGAPA MEREKA HENDAK MELABOR DI NEGARA KITA SEBAB MURAH ADA ‘ADVANTAGE’ DARI SEGI CUKAI YANG MURAH DENGAN KEMUDAHAN ‘POWER SUPPLY’YANG BAIK.
5) JADI KORBAN SIKIT KERUGIAN UNTUK MENGEKALKAN PEMBELIAN YANG TETAP ATAU KENAKAN SYARAT ‘DAPAT MURAH TAPI MESTI BELI DENGAN BANYAK’.
6) KITA TIDAK BOLEH BEBANKAN RAKYAT UNTUK MEMBANTU KALAU KITA MENGHADAPI MASAALAH PEMBELIAN DARI RAKYAT NEGARA LUAR KERANA AKHIRNYA PASTI AKAN BERLAKU MALA PETAKA DI DALAM NEGARA.
7) KITALAH KENA MEMBANTU RAKYAT UNTUK BEKERJA DAN MEMBERI LEBIH PENDAPATAN SUPAYA RAKYAT DAPAT MEMBELI SEGALA BARANGAN YANG KITA CIPTAKAN.
8) CUBA BAYANGKAN KALAU HARGA YANG KITA TAWARKAN TIDAK DAPAT DIBELI OLEH KEBANYAKKAN RAKYAT KERANA RAMAI YANG JATUH MISKIN. KENAPA NEGARA CHINA BERJAYA, BUKANKAH KITA PERNAH MENGANGGAP BARANGAN CHINA LEBIH MURAH KURANG BERKUALITI DARI BARANGAN JEPUN DAN EROPAH.
SEBAB BARANGAN MEREKA DAPAT MEMBERI PELUANG JUTAAN MANUSIA DAPAT MEMBELINYA.
9) SATU PENGAJARAN BAHAWA SESIAPA PUN DARI BERBAGAI BANGSA DAN AGAMA KALAU MENGUTAMAKAN KEHENDAK ALLAH S.W.T YANG PEMURAH AKAN BERJAYA DAN AKAN LEBIH SELAMAT KALAU IA HALAL MENGIKUT KEHENDAK SEPERTI YANG TERTULIS DIDALAM AL-QURAN.
WALLAHU’ALAM
Salams Tun..
Malaysians are BOLD..
We always BOLEH..
tapi takut2 nanti jadi BODOH..
hehehehee…
I still Support you..
///
Salam YB Tun,
Sebenarnya saya kurang berpengetahuan berhubung mekanisma matawang.
Cuma saya tertanya-tanya apa akan berlaku kalau matawang Ringgit ditambat kepada satu nilai yang tertinggi sekali iaitu mengatasi nilai matawang negara lain termasuk US Dollar dan Euro. Adakah kuasa beli kita akan bertambah atau satu dunia akan memulaukan kita kerana produk kita mahal?
Sebenarnya dunia ini penuh dengan ketidaktentuan di mana ianya telah diexplotasi oleh pihak bermata duitan untuk mengaut keuntungan. Apabila sesuatu perkara itu telah tetap (termasuklah matawang iaitu ditambat) maka tiadalah ketidaktentuan di dalam pasaran maka tiadalah pihak yang boleh mengekplotasinya dan akhirnya tiadalah pihak yang untung.
Sepatutnya pihak yang mengawalselia mekanisma matawang (iaitu Bank Negara) mestilah peka (24 jam, 7 hari seminggu) dan sentiasa berfikiran kehadapan (iaitu mendahului spekulator/ manipulator/ peniaga matawang) kerana ianya melibatkan siapa yang bijak membuat percaturan. Jika hendak cari jalan mudah dan selamat, tambatkan sahaja matawang Ringgit. Jika malas dan hendak hidup selesa sentiasa maka jangan sekali-kali terfikir untuk diampungkan matawang Ringgit. Dan jangan sekali-kali disebabkan terikut-ikut rentak pihak luar kerana mereka ini mungkin betul dan mungkin salah. Kita punya negara, kitalah yang kena fikir sendiri.
Bak kata pelawak Malaysia “Lu fikirlah sendiri”.
Didoakan semoga YB Tun sihat sejahtera sentiasa.
Salam Tun,
another way of excercising governance over the currency is to adopt an annual rate, calculated based on normal, rationale trends.
fluctuations within the year can then absorbed or averaged out. if needed, adjustments can be made to the exchage rate in the following year. this will have the effect of smoothening wild fluctuations caused by sudden events, whether intentional or natural.
of course financial players and institutions will scream at my simplistic solution, they want the finance industry to be as complex and as bewildering as possible, so that there is an excuse to pinch even more from the people, since they have the license to do so.
Assalamualaikum.
Semoga Tun sekeluarga sejahtera selalu.
Satu pandangan yang amat mudah difahami tetapi memberi implikasi yang besar keatas sistem ekonomi Negara. Saya amat bersetuju dengan pandangan Tun tentang perkara ini. Jika dilaksanakan pada masa yang tepat, keuntungan berganda kepada rakyat seperti dalam kenaikan harga saham yang tun perkatakan baru-baru ini. Pelabur luar tidak lagi dapat menikmati keuntungan berganda daripada tukaran wang dan pelaburan modal. Ekonomi akan lebih stabil, pendapatan perniagaan juga akan stabil kerana jika ada keuntungan atau kerugian tukaran wang hanya sekali aje.
Pengguna gagal menikmati keuntungan daripada peningkatan ini kerana para peniaga sentiasa bersikap konservatif dalam pengiraan keuntungan mereka tetapi akan segara mengambil kira jika ada tanda-tanda kerugian. Ini baik untuk mereka walaupun tidak baik untuk pengguna. Pendapatan Petronas juga akan lebih stabil kerana tiada lagi turun naik tukaran wang. Hari ini Petronas Chemical disenaraikan di bursa Malaysia dan para pelabur menikmati sedikit premium daripada tawaran awal, tahniah untuk Petronas Chemical tetapi kesian kepada staff Petronas kerana dengarnya ramai yang gagal melanggan tawaran kerana peraturan Petronas yang menghadkan pembiayaan hanya kepada dia institusi kewangan sahaja, masa untuk mereka membayar juga amat singkat kurang 6 hari dari tarikh yang sepatutnya.
Pandangan Tun ini mungkin tidak disokong oleh ramai ahli ekonomi kerana mereka tiada teori yang menyokong tindakan ini. Mereka berpendapat cara ini akan menjadikan ekonomi tidak mampu berkembang dengan baik kerana kita melindungi para pemain yang lemah dan menyebabkan tawaran dan pemintaan menjadi palsu. Kepercayaan ini diajar dan ditanamkan kepada ahli ekonomi kita oleh para orientalis dan kapitalis, sedangakan ISLAM mengajar kita agar memilih cara dan jalan yang selamat dalam semua perkara. Saya rasa pandangan Tun ini lebih menjuruskan kepada pengurusan ekonomi ISLAM, mengurangkan ketidakpastian dan mengelakkaan matawang kita menjadi komoditi yang diniagakan seterusnya menghadkan matawang sebagai alat tukaran jual beli sahaja.
Semoga ALLAH memberikan petunjuk dan kepimpinan kepada para pemimpin Negara kita untuk mengambil keputusan yang terbaik untuk kemakmuran Negara dan rakyat. Kita sebagai rakyat hendaklah bersatu dan menyokong kerajaan selagi mana ianya tidak menzalami rakyat, janganlah menjadikan demokrasi sebagai alat untuk berpecah belah kerana jika Negara ini huru hara tiada siapa yang untung. Hentikanlah politik sepanjang tahun kerana banyak masa dan tenaga terbuang begitu sahaja tanpa manfaat yang nyata. Hanya kerana memenuhi tuntutan perasaan ego dan hasad dengki sahaja. Bersyukurlah dengan nikmat KURNIAAN ALLAH dan ingatlah bagaimana susahnya kehidupan kita 30 ataupun 40 tahun dahulu, andainya kita kufur bimbang ianya ditarik balik dan kita akan merasai kesusahan yang lebih teruk dari dahulu.
Salam Tun & bloggers,
1.The pegging of ringgit back in 1998 was mainly to curb the currency speculators,with zillion dollars of hedge fund ala George Soros
2.These huge fund only succeed in manipulating ‘small’ economy like Malaysia,Thai,Indonesia
3.It’s high time ASEAN come up with common currency,similar to EURO to curb this menace’s attack
4.The 20% stronger ringgit compared to US dollar is not advantageous to the man on the street due to basic principle of min investment ,max profit practiced by 99% scruplous importers/traders;which means they’re getting 20% bonus profit as ringgit appreciated
5.This is on top of umpteen type govt tax/sales tax,increase of maintenance/parts/handling/labor,which led to lose-lose situation to consumers
6.Besides,prices are normally determined by cartel which monopolized most of daily consumers needs from needle to rocket engine!
7.Hence, came the news of open burning of chicken hatchlings just to curb further slide in retail chicken price due to over-production
Wassalam
Dear Tun,
This is good, the world said fixing exchange rate is bad-idea, you went ahead taking risk and against the tide…
you where lucky and we recovered and the so call expert learn from us…
now the whole world is fixing rate, so we take another bold move, again put Malaysia on the spot, if we lucky *again*, Harvard will have a module on Malaysia.
If we were unlucky, Harvard will still teach about our bad-idea…. but the people will pay more tax to fix the *unlucky-move*….
This is what we called Calculated Risk Management, the beauty is that, if calculation fail, the people will pay the price…. haaa…haaa…haaa…
The party who proposed this will not consult the people, they will take fee and make decision.
The politician will have money to pay higher tax.. the low and middle income group will suffer….
Who care… Wining GE13 is more important….
Putra Jaya must be defended at all cause….
Dearest Tun
//13. It is strange that at the time when many countries have decided on currency control Malaysia is thinking of freeing the Ringgit from any control. //
1-You mean to say this regime you seem to endorse is also not listening to you?
2-They do not recognize you as shi-fu in capital controls?
3-They’d rather listen and follow Singapore financial management?
4-I take it that you are suggesting we should punish this new regime as we did the former come this PRU13?
5-At your command sir…
Thanks Tun