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Mass Protests Sweep Malaysian Capital As Anger At Goldman-Backed Slush Fund Boils Over
If we told you that thousands of protesters donning bright yellow shirts had taken to the streets to call for the ouster of a leader in an important emerging market, you’d be forgiven for thinking we were talking about Brazil, where President Dilma Rousseff is facing calls for impeachment amid allegations of fiscal book cooking and government corruption.
But on this particular weekend, you’d be wrong.
We’re actually talking about Malaysia, where tens of thousands of demonstrators poured into the streets of Kuala Lumpur on Saturday to call for the resignation of Prime Minister Najib Razak whose government has been accused of obstructing an investigation into how some $700 million from 1Malaysia Development Berhad mysteriously ended up in Najib’s personal bank account.
1MDB was set up by Najib six years ago and has been the subject of intense scrutiny for borrowing $11 billion to fund questionable acquisitions. $6.5 billion of that debt came from three bond deals underwritten by Goldman, whose Southeast Asia chairman Tim Leissner is married to hip hop mogul Russell Simmons’ ex-wife Kimora Lee who, in turn, is good friends with Najib’s controversial wife Rosmah Manso.
You really cannot make this stuff up.
What Goldman did, apparently, is arrange for three private placements, one for $3 billion and two for $1.75 billion each back in 2013 and 2012, respectively. Goldman bought the bonds for its own book at 90 cents on the dollar with plans to sell them later at a profit (more here from FT). Somewhere in all of this, $700 million allegedly landed in Najib’s bank account and the going theory is that 1MDB is simply a slush fund.
So you can see why some folks are upset, especially considering Rosmah has a habit of having, how shall we say, rich people problems, like being gouged $400 for a home visit by a personal hairstylist. Here’s The New York Times with more on the protests:
Tens of thousands of demonstrators in Malaysia defied police orders on Saturday, massing in the capital in a display of anger at the government of Prime Minister Najib Razak, who has been accused of corruption involving hundreds of millions of dollars.
The demonstration in central Kuala Lumpur, which has been planned for weeks, has been declared illegal by the Malaysian police, and the government on Friday went as far as to pass a decree banning the yellow clothing worn by the antigovernment protesters.
But the demonstrators, who represent a broad coalition of civic organizations in Malaysia, including prominent lawyers, asserted their right to protest on Saturday.
The government has acknowledged that Mr. Najib received the money in 2013 and said it was a donation from undisclosed Arab royalty.
One group of protesters on Saturday carried the image of a giant check in the amount of 2.6 billion ringgit, with a sign that read, “You really think we are stupid?”
The group organizing the protest goes by the name Bersih, which means clean in Malay.
Calls for Mr. Najib to resign have come both from within his party, which is divided, and from the opposition. One junior member of Mr. Najib’s party, the United Malays National Organization, filed a lawsuit against Mr. Najib on Friday asking for details of how the money was spent.
Of course the most prominent voice calling for Najib’s ouster is that of the former Prime Minister Mahathir Mohamad. "I don’t believe it is a donation. I don’t believe anybody would give [that much], whether an Arab, or anybody," he says.
Meanwhile, Malaysia is facing a re-run of the 1997/98 financial crisis as the ringgit plunges amid broad-based pressure on emerging markets. With FX reserves now sitting under $100 billion some fear a return to capital controls (let's just call it the "1998 option") is just around the corner despite the protestations of central bank chief Zeti Akhtar Aziz. Here's BofAML:
Capital controls are not likely, but the possibility cannot be dismissed, despite <assurances from Zeti. Introducing controls will be a regressive move and a huge setback, hurting the economy and financial sector, and derailing any ambitions of becoming an international Islamic financial center. Malaysia’s reputation and credibility remain tainted by the capital controls of 1998, even after almost two decades.
The ringgit has depreciated almost 13% year-to-date, the worst performing EM Asian currency. FX reserves fell to $94.5bn at mid-August, falling below the $100bn threshold and down by about $9bn in July alone. At the peak, FX reserves were $141bn in May 2013. Cover to short-term external debt is only 1x, while cover to imports stands at 5.9 months. Downside risks remain given looming Fed rate hikes, China's RMB devaluation and the political crisis over 1MDB. Malaysia's vulnerability is also heightened by high leverage (household, quasi-public and external) and a fragile fiscal position (heavy oil dependence, off balance sheet liabilities)
The current crisis has not reached the extreme stress seen during the Asian financial crisis, when draconian capital controls were eventually introduced in September 1998. During that episode, the ringgit collapsed by about 89% from peak to trough at its worst (to 4.71 from 2.49 against the USD). The ringgit has depreciated some 26% in the current crisis. During that episode, the KLCI fell by about 79% from peak to trough (from 1,271 to 263) at its worst. The KLCI today has fallen by only about 12% from its recent peak. Nevertheless, downside risks remain given looming Fed rate hikes, China’s RMB devaluation and the political crisis.
So in short, Malaysia is on the brink of political and financial crisis, and it looks as though the nuclear route (capital controls) may be just around the corner, which would of course only serve to alienate the country's financial system at a time when the government looks to be on the brink of collapse. What's particularly interesting here is the timing. Mahathir Mohamad famously clashed with George Soros during the '98 crisis, going so far as to brand the billionaire a "moron". Now that the country's "founding father" is looking to oust Najib, it will be interesting to see what role he plays in shaping Malaysia's response to the current financial crisis and on that note, we'll leave you with a quote from Dr. Mahathir ca. 1997:
"I know I am taking a big risk to suggest it, but I am saying that currency trading is unnecessary, unproductive and immoral. It should be stopped. It should be made illegal. We don't need currency trading. We need to buy money only when we want to finance real trade."
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Goldman did Greece, now Malaysia and who is next?
as Captain [corporate] America fucks over the country with thy 'Carry-Trade', the strong dollar strangles the shrinking margins-- whence the fire`sale has now become a tsunami of dump and run...
would you prefere a Nike or Reebok for running away back into BRICs territory?
well, would ya punk...[?]
http://www.unc.edu./~andrewsr/ints092/vandu.html
You know the money sure didn't get spent on air traffic control systems.
Well, at least the people there are angry and doing something about it.
I expect here it would be announced with the comments that the alleged perpetrators are TBTF, TBTJ and those watching would just yawn, change the channel, and eat more junk food.
There's probably something in the food.
I think its time to become a Guy Fawkes mask distributor.
The opposition leader is Anwar. Worked for the IMF in New York befotre coming back to Malaysia.
Who leaked the 700m corruption money?
Who set Najib up with the fund Project.
Add it up yourself.
What is the motive.
Najib does not agree to let US to have control over Straits of Malacca disrupting ChinA ENCIRCLEMENT
well, the pic does kind of look like a 'color revolution'
The oppossition are also funded by NED.
Let's play regime change playbook bingo!
Looks like Rosmah Manso is another Imelda Marcos (Phillipines).
It always surprises me how many of the partners of Goldman's still have their mothers.
Surely they should have all been sold yonks ago?
A deal is a deal, profit is profit. Nothing personal mum, it's just business.
If they did that, they would have to pay for chicken soup.
Too bad Americans won't protest against Nigger Killerz.
I know I am taking a big risk to suggest it, but I am saying is that currency trading is unnecessary, unproductive, and immoral. It should be stopped. It should be made illegal. We don’t need currency trading. We need to buy money only when we want to finance real trade.
So, how is Mahathir wrong in his above statement? His country was being dismembered in 97 by collapsing exchange rate and foreign demands for usury. When the usury is not forthcoming, finance demands are austerity, or harvesting of real assets. Harvesting to pay debts usually also includes transferring the former paid for commons to be privatized by foreign money powers. This privatization then is an Oligarchy action, whereby the former paid for productive commons, become toll booths to extract wealth from now enslaved population.
Mahathir introduced Capital Controls to prevent Capital Flight of ringgit, to thus prevent accelerating FX decline. He also disallowed trading of ringgit in FX markets. In this way, Malaysian labor had their money means stabilized, so they could trade their output fairly.
Some background and a quote from Wikipedia will help understand 80 to 90’s period:
“Until 1999, Asia attracted almost half of the total capital inflow into developing countries. The economies of Southeast Asia in particular maintained high interest rates attractive to foreign investors looking for a high rate of return. As a result, the region's economies received a large inflow of money and experienced a dramatic run-up in asset prices. At the same time, the regional economies of Thailand, Malaysia, Indonesia, Singapore, and South Korea experienced high growth rates, 8–12% GDP, in the late 1980s and early 1993. This achievement was widely acclaimed by financial institutions including IMF and World Bank, and was known as part of the "Asian economic miracle".
Note that incoming capital was not in the Thai, Malay, Indonesian, Singapore or South Korean currency. It also drove up financial asset prices outside of true value, and foreign investors wanted high rates of returns on their money. Foreign money was actually bank credit created from nothing, yet another perversion in an Alice in Wonderland world of perversions.
A MEFOBILL axiom: “The true nature of money is law.” And “A nation should never let its money extend beyond its law.”
The high interest rates were then attracting foreign denominated money, and this is against the axiom – only bad can come from it.
Virtually all hyperinflations are due to FX pressures. Finance and Casino Capitalism uses FX system for shorting bear raids. This mechanism requires a country to get hooked on foreign currency loans. Later when the country cannot pay the usury as they do not have enough FX in their money supply, the timeworn harvesting mechanism comes into play. To pay debts, their own national currency comes under pressure for devaluation; in other words, local currency is desperately thrown onto exchange markets to acquire foreign exchange to then pay foreign denominated debts. This action of throwing local money out there, or even printing more, creates too much volume relative to local goods and services.
At this point in time, bear raiders like Soros step in and then bid local currency even lower. Raiders short the local currency, and this action of shorting puts additional downward pressure. (Shorting includes loaning of yet more new local currency – often to foreigners - while being backed by dollars or Yen or Euros. Hence volume of local currency goes up even more, making an accelerated positive unwanted feedback cycle, thus destroying purchasing power of local labor value.) How can credit’s volume be controlled when it has exponentials and positive feedback buried within its structure?
Another MEFOBILL axiom: “Money must be volume and channel controlled.”
And
“Interest rates are only an indirect knob for controlling volume.”
And
“Interest rates are a lagging indicator for a credit driven economy. If credit drives an economy up in activity, then interest rates are driven up to compensate and slow it down. And obverse, if an economy is not having activity, interest rates are lowered. Credit emission comes first, then activity.”
Tiger economies had high interest rates as their economies where too “hot” due to credit injections. A carry trade then forms to take arbitrage on rate difference. Said carry trade is yet more credit injection with concurrent debt instrument, and debts want to grow exponentially.
Note that in Asian Currency Crises, it was foreign “Capital” denominated in another nations unit, and those units were manipulated through private “credit” mechanism in all cases.
Much of the foreign inrush of “capital” was Japanese Yen. This flood of Yen was due to BOJ giving new credit against land in a bubble mechanism intended to allow BOJ to take over Japan. BOJ has now morphed to be an independent bank closely aligned with BIS, and hence now emits credit for finance and land speculation, rather than directing credit into GDP type activity. BOJ is no longer subordinated to the sovereign will of Japanese people but instead is heavily influenced by foreign banking elements.
See movie Princes of Yen for a description of this event, which is closely related to Asian Currency Crises:
https://www.youtube.com/watch?v=p5Ac7ap_MAY
Japan used Credit Guidance Windows for its post war economic miracle. That means they guided credits VOLUME and then CHANNELED it into productive means. They did not waste their credit on valueless property transactions, nor did they vector it into a large superstructure overhead of predatory finance. Finance mostly trades financial paper, and once the paper makes its inevitable usury claims, it then tries to take from the real economy.
To get an idea of the huge amount of misallocated credit being purposefully created by BOJ in Japan, the entire value of Japanese islands were price distorted to exceed North America by many times (4X). This bubble money then left Japan and spilled over to stimulate the Asian Tiger economies. Always debt instruments grow with exponential of usury, and later demand their former “credit” back, and that credit is usually not available, especially as FX. It is especially not available if it is foreign denominated, as foreign denomination money usually leaves and goes back home to its origination country. If it leaves to buy consumption goods, there is no productivity in debtors future to earn FX out of international markets.
Money being created by private banks (like BOJ) to then channel into land or bonds, is a complete mismatch for needs of labor and humanity.
Since private banks create money as credit, it must come into being with double entry ledger mechanics. This credit typically aims at land or bonds. This is why in the U.S. 80 percent of credit money supply relates to land, thus driving up land in price. Just the State of New York exceeds value of all industry in U.S.
Driving up land in Japan to make a finance bubble, then created floods of credit as money, to then take arbitrage and initially stimulate foreign economies. Finance in all cases was a bad actor, disenfranchising millions from their labor value, especially later when debts come due and foreign demands cannot be met.
Capital cannot continue to take rents for its existence; the money system must be changed. The world should not be run by psychopathic predators and parsites who have their fingers on the money power.
Another axiom: All foreign trade is only barter.
Mahathir is right, we only need foreign money to buy something REAL, not to transfer to financial Oligarchy.
The best solution for an international trading system is a Bancor system. Bancors are a GOODS EXCHANGE SYSTEM, and is not money. Bancors are an accounting device to keep track of all nations’ trade. In this way, nations would be trading something real for something real, and not allowing finance predators like Soros to have a free lunch on the backs of producers. Parasitism should not and cannot be allowed to continue.
FX allows nations to be subsumed with finance rather than by military means. Finance capitalism has morphed into full spectrum warfare, and FX manipulations are weaponized finance.
All nations are sovereign, and they should have their own damn money. Once a nation has full control of its money, by law, their money can then vector by volume and channeling in ways that is of benefit to citizens.
A private credit banking system like that which currently controls the world, is not democratic by definition. Nations are not democracies under the will of their people, instead Nations - especially weaker nations - are subordinated to distorted markets and false private credit money power.
www.sovereignmoney.eu
Thanks MEFOBILLS. That was interesting and instructive.
I struggle to understand finance and economics. I have a question for you, which might raise a few eyebrows, but I am genuinely curious to know: if national currencies can be used to such deleterious effect against nations, why is a global currency considered a bad thing? I know people think this would be a big step to one world government but wouldn't it do away with the speculators and the underhanded attacks on a nation's currency, which amounts to a real war on the people of that nation.
I've always thought that a new world order, properly understood as an ordered state of peaceful co-existence for the benefit of the whole world, would be quite a good thing if it put an end to the depressing disorder that has plagued the world for too long. Am I naive for thinking this?
We are on the road to a decreased need for currency markets. Free floating currencies only require trading, as suggested by Mahathir, when needed fot trade. Large purchases to stabilize currency values are not done.
In the past month many (20 or so) countries have abandoned or eased pegs.
The balance of trade determines the currency's value/price. This will impact the USA severely as much of its exports are financial instruments....used in currency manipulation.
...oops...
Asian Fall?
Doesn't matter much what religion the person is although some are much worse then others as we see day-to-day esp when it becomes distorted. This super greedy fellow should obviously be torn aprt by his people for stealing from them but he joins a long list of leaders in this category.
The wonderful thing about bribery is the small 'investment' yeilds such a high reward. A tinpot dictator can take his wife to Paris for a weekend and there is no cost to him. His country pays for it big time though.
Malaysia is just the beginning? "Welcome to the trade deal wars: Escobar" 8/28/15 http://atimes.com/2015/08/welcome-to-the-trade-deal-wars-escobar/
http://atimes.com/category/asia-unhedged/
"RCEP-- EAS-- TPP--ASEAN,... etel"
Linking it up for you: http://en.wikipedia.org/wiki/Regional_Comprehensive_Economic_Partnership
http://en.wikipedia.org/wiki/Trans-Pacific_Partnership *Think Pivot-to-Asia
OT/?
Oh Yeah-- Sisi is aligning with Russia as the Egyptian Nationalist encarnate 'NASSERIAN'
got poppy corn
Goldman's fingerprints are on every smoking gun. From Greece to setting central bank policy.
Tim Leissner is a handler to this Najib guy as Alexander Dibelius is Angela Merkels handler.
All power corrupts.
Everything needs to be broken up every few years.
Of course then you would have the rebuilding syndicates that would be corrupt.
I have slowly come to the conclusion that there is only one way to control corruption. That is to make the punishment for the crime so large and the ability to prosecute easy enough that a few 100-1000 are routinely killed before they start worrying about the downside of corruption.
But can you imagine a US "democracy" killing a Cheney? or a GW? Or even a Madoff or a Mozzilo or Blankfein?.
We don't have the ethics to make those level of decisions. Therefore we will slide further into the cesspool we have now.
"We don't have the ethics to make those level of decisions." Or the maturity. The fact is that America is a nation of spoiled adolescents who want their Freedom -- but are unwilling to pay the price of taking responsibility for their actions. They want to swing their arms anywhere they want -- regardless of whose noses they hit with their wild gyrations. And then when the world brings them Consequences for their actions, they 1) deny, 2) blame someone else, 3) Run Away. And this is why the world is in Deep Kemshih, and the Arctic ice is melting, and the seas are rising, and the Middle East is in flames, and masses of immigrants are forcing themselves into a Europe that doesn't want them. Because we refuse to face the consequences of our actions, or make decisions which require accepting the existence of anything Unpleasant, let alone doing anything about it.
And therefore we will slide further into the cesspool. The seas will rise. The earth will shake (happens when you relieve the massive pressure of glaciers). Volcanoes will blow (they always do, but we're due a few bigger ones in overpopulated places, because EVERYWHERE is overpopulated now). Currencies will collapse, governments will topple, more civil wars will start, people will die, and yes, then you get the Famous Four Horsemen because they tend to ride together. And maybe after a while, the only people left alive will be the ones who understand the meaning of making a real decision.
But their grandchildren won't.
We are really in all honesty, at the beginning of the end.
Just wait till those fantastically pastel shirts get fucking real angry, and exact a revenge only Hades could imagine. Its game on my friends, and it will only end as it always does, the plebs will only take so much of some fucker pissing down their necks telling them its raining before they deliver justice in the only way it has ever been listened to.
Violence. Bone chilling, expected, and deserved, violence. Was ever thus.
Bank on it...
:-)
"I need to have all the $ in my account so I can protect it during this time of crisis" Fuckhead.
Shocking, yes. Surprise, no.
I hope someone close enough to that prick takes care of everyone's problem.
Read this, and I dont ever do this, but read it and see what 'Will' happen when these people who have nothing and lost everything decide they wont put up with this not one second longer, this is from the Trussell Trust, the people who run the 'Food Banks' in England:-
Trussell Trust Chairman, Chris Mould Says:
Foodbank use is not rising because people are taking advantage of free food, it's rising because more people are facing situations where they cannot afford to eat. Foodbank use is a last resort when all other coping strategies have been exhausted. People speak of the shame and embarrassment that they feel before visiting a foodbank, and the courage it took to walk through the door. The fact that almost 500,000 people have found themselves in this situation in just six months should be deeply concerning to our nation. The qualitative evidence and personal stories in Emergency Use Only combined with the Trussell Trusts latest figures should leave no one in any doubt that UK hunger is real, distressing and a problem that continues to demand urgent attention. ENDS
There is almost 1.2 million people now using foodbanks in 2015, up exponentially from last year, the vast majority in work, and sent to the foodbanks by either a doctor or social worker, after showing signs of malnutrition. The very bulk of them must have no idea of the situation we know very well by now.
Be very aware GCHQ NSA, the next attack against the 'State' may very well be against you.
These people are human beings my friends, reduced to nothing but nothing. How many of those 1 in 66 people in my country will do something to right a wrong? You will find out in due course.
Not everyone has the ability to either do what we lot do, or know what we collectively know, so hows about this for an encore:
Some of these poor souls are struggling so hard earning nothing and not even making it by that our local parish churches over the summer holidays have been providing a lunch meal to those kids who receive 'Free School Meals', because their parents haven't got enough money left to feed neither themselves or the child.
Let that sink in for just one moment, this is meant to be one of the richest countries in the world that sends the thick end of 13 billion mother fucking quid around the world to those most neediest, but neglects its own.
When these people snap GCHQ NSA, be rest assured, you fucking cunts deserve everything they give you. And I mean that in the sincere list way it can be said.
But stocks are green eh? Who gives a fuck?
And all on money printed from thin air? I am ashamed to be human...
What's that smell? Yep, it's Goldman again.
From Gezley:
I struggle to understand finance and economics. I have a question for you, which might raise a few eyebrows, but I am genuinely curious to know: if national currencies can be used to such deleterious effect against nations, why is a global currency considered a bad thing? I know people think this would be a big step to one world government but wouldn't it do away with the speculators and the underhanded attacks on a nation's currency, which amounts to a real war on the people of that nation.
Private credit bankers in the U.S. wanted all of their reserves to link up. This means that if a bank in Peoria emits new credit, then a bank in Midland Texas can settle it. The reserve loops allow all of the credit ledgers to balance.
The reserves then pointed at New York Fed in 1912 due to usurping of the law.
Bretton Woods then codified dollars as world reserve, meaning other nations money would have their ledgers find ultimate balance. Gold supposedly anchored the dollar, and for a period up till 71 internatinonal goods exchange was somewhat fair, as Gold somewhat prevented huge trade imbalances.
During this period after Bretton Woods, Gold was not used internally in a 10:1 ratio to create credit, and hence losing Gold due trade imbalance did not magnify into credit collapse.
An international money is the DESIRE of credit emitting private BANKS. They have always desired to link up their ledgers so they can balance out, and still own the money power. The illuminists, who take their rents via usury out of private banking, then try to control industry and the affairs of men. This very small group of people are not democratic, and that means that all democracies are a facade, an illusion.
The dollar is the international currency, and it is manufactured by private banks. 97 percent of the money supply is private credit NOT US TREASURY MONEY. ok. That is a fact.
I keep telling people we need a BANCOR system. This means that an accounting unit marks Goods exchange. Every year so many cows, pork bellies, grain, iron ore, etc. is exchanged. This flux of goods exchange is fairly constant, and an anchor. This anchor is very important.
A nation may then have its own internal money. If a nation finds itself importing too many goods, then it soon loses its bancors, and has to adjust its exchange rate down. That makes it cheaper to buy from that country.
Notice though that the bancor is not money and it does NOT trade internal to a country, it only marks goods exchange internationally. A dollar as reserve is put into reserve loops of foreign banks - a perversion.
A nations sovereign currency is then anchored by a goods exchange system, and it would soon become apparent if any nation plays games and issues their money improperly. This is fast feeback based on good exchange, and not private credit finance games.
Money is pay on demand to the bearer, and it can demand anything within a nation. A bancor does not flux within a nation, nor does it show up on bankers reserve loops. In a sovereign money system, there is no private credit emissions, nor are there reserves.
In my opinion, any sort of money exchanging, especially private credit for private credit, is extremely dangerous and has to be gotten rid of asap, or mankind will not evolve to his higher self.
The hairless ape, full of pride and violence, will emerge as victor in evolutions battle.
Why do we give our money power over, so small groups of psychopaths can take rents on man? Worse, they lead us off the cliff into war and even racial suicide.
Thank you for taking the time to answer my question. I will have to study these things more closely to get a grip on them.
Looks like team USA.govs & western banker's 'pivot to Asia' is working as planned.
Goldman is part of the scheme. A part of the visible one-ninth of the scheme.
Zion is a scheme, not an ethnicity..
You absolutely right on that one Kchrisc!
deleted.
2015 Public Announcement -NSA Announces 3rd Annual Best ...
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Feb 9, 2015 - News and Information ... NSA Public and Media Affairs, 301-688-6524. NSA ANNOUNCES 3rd ANNUAL BEST SCIENTIFIC CYBERSECURITY ... Fred Schneider, Cornell University; Mr. Phillip Venables, Goldman Sachs ...
From root
The only useful idiot here is you, who constantly advocates for a "sovereign money-topia" controlled by a government so large that it makes Emperor Palpatine's regime look like a Boy Scout jamboree.
How many goons with badges and guns will be needed in your top-down, monolithic power structure to ensure that the "law" is "moral"?
Hey dumbass. Floating money has no accounting periodicity. It does not go back to the credit ledger for destruction.
In this way it becomes a tool for people to use. They exchange it and save it, so it becomes a low cost medium. It is low cost and low friction.
Government loses control of floating money, and the only way to recall it is through taxes.
The claims I make are backed up by reality, not some sort of contrived bull shit reasoning.
I've posted in ZH before the Canadian experience with Sovereign money from 38 to 74, and they had an economy with no debts, full employment, paid for medical care, paid for college, and what amounts to a highly civilized people. The economic surpluss of Canada vectored back to help their citizens, rather than supporting Oligarchy. Oh and buy the way, they needed very few Goons with badges, as their people were civilized.
It is Oligarchy that uses police to supress citizens.
You have cause and effect reversed.
So sorry that I offend you.
I expect another Malaysian Airliner do go missing now.. Goldman Sachs got called out by the CIS trader in Japan (tweeted) Goldman Sachs can even beat me... Rough week for them LOL... Malaysia people have my support, that guy NAJIB made a deal with the DEVIL= Goldman Sachs.. Now they are fucked and Goldman Sachs will suck them dry.... They did it to Greece they cooked the books to get them in the EUROZONE look at them now..I don't know what's worse the ZIONIST or the politicians of nations making shady deals behind close doors and then lying to it's OWN people????
Freedom Guy
How many companies, banks or individuals would do a Zimbabwe currency? ONLY an oppressive government would do that.
Zimbabwe is the only example of government causing inflation. In every other case in history it is through the exchange mechanism, where private credit and debts cause distortion. The most famous case of course is the Weimar hyperinflation, where the Reichsbank was forced to privatized by Morganthau plan. After this private credit emissions went crazy in shorting bear raids. Why? the mark was under pressure due to Versaille treaty.
So, to use a group of African's as an example is not good thought. This is my point - again. Bad thinking not related to reality. Why not pick Haiti as well? Oh that's right, it is racist. Let's reduce the statistical set to Western People, and then Zimbabwe drops out...they are an outlier. Money's true nature is law, but it also needs to swap for goods and services, and Zibabwe did not make goods and services, now did they? In both Haiti and Zimbabwe, they killed off the white men who did grow food and make things.
Why was Versaille treaty so rapine? In order so that te victors, France and Britain in particular, could take rents and then supress the productive Germans.
So, money can be encoded improperly, and that is just the way it is, and the verdict of history. Volume and channeling have to be controlled.
My problem with Libertarianism is that it is a false dialectic claiming morality, when in fact the sytems it advocates encourage rental thefts on the unwary. This is why Austrian theory and libertariansim is FUNDED by the money powers, to then cast a pall of confusion over the minds of the unwary. The unwary are often fine people who want to do the right thing. Usually libertarians are moral people, just confused on how money systems work, and often ignorant of monetary history.
Notice that I always quote real examples from history. If one doesn't learn, or cannot learn from examples and experience, then what are they?
HAHAHAHA. You ask Americans to understand history? It's hard enough to get them to READ it, and when they do, they take the propaganda they're spoon-fed at face value. Next time you want to encourage them to think, maybe better not to introduce "racist" slurs in the first paragraph. Zimbabwe IS a perfect example of monetary destruction through destruction of the real economy, but . . . . you know what I mean. There are things you can't point out in polite company, lest everything else you say be discounted.
Your fundamental point is spot on. Austrian theory is the apologetics of displaced Austrian nobility that tries to justify why the wealthy are better than thou or I and should be encouraged to remain so. It has been expounded by the patrician caste for eight decades as a means to deceive workers into supporting a parasitic system that feeds off them. How this relates to Malaysia's current situation is questionable. I think the operative quotation is Matathir's: there is no good reason for currency speculation outside of the limited need to trade currency in the course of business in REAL goods. Allowing it to expand to its current levels is/was an absurd act of governmental malfeasance initiated by the U.S. for the benefit of commercial bankers. Currency trading was heavily regulated worldwide from 1935-1972, which coincided with a peak not only of general prosperity, but of economic stability. None of the nations participating in WWII allowed or could have allowed currency speculation; capital controls, like other forms of rationing, were necessary to permit those governments' heavy spending on troops and armaments. Society could not at the same time support TWO totally frivolous, wasteful, and useless rents being extracted from the real economy (i.e., war and speculation).
The claim that "the market" always appropriately prices all goods and services is utter nonsense. The market is prone to manipulation, speculation, and chaotic movements caused by human irrationality. It is subject to vast differentials of information which make the the theoretical equality of participants ludicrous. And it is never honest, because the first goal of any capital speculator is to gain control of whatever government sets the rules and conditions for trading. When asked to prove their theses, the Austrians immediately retreat into philosophical ramblings because their claims can neither be quantified mathematically nor proven by empirical experimentation on anything but the smallest scale.
Funny how this dose of reality lines up with the plot from Owen Wilson's new flick "No Escape" in which the prime minister of a country very similar to Malaysia is assassinated with hordes of the gentry out to kill the "American economic hitmen".
So why is it always MALAYSIAN airliners that get shot down?
Perhaps it had something to do with the Asian currency crises, and how Mahathir gave the private banker Illuminist Cabal the middle finger? How dare Malayasia show the correctness of its actions as their currency stabilized, contrary to IMF prognostications.
How dare Malaysians take over the credit falsification machinery and use it to help their people !!!!
The banker crime syndicate and their con must not be exposed, and Mahathir is way to monetarily aware. It is a surprise he hasn't been assasinated.
Latest trend in the business world - Mergers and acquisitions through murders and assasinations.
"Kill 2 birds with one missile and start WW III while yur at it" Men With No Balls
"Malaysia Airlines has struggled to cope with waning confidence among would-be travellers after the loss of flight MH370 en route to Beijing in March, and then MH17 over Ukraine last month. The two incidents cost the lives of 537 passengers and 29 Malaysia Airlines staff."
"oneworld is a global airline alliance founded in Feb-1999. See CAPA's consolidated page on Global Alliances, complete with consolidated data and a Capacity Predictor tool, that shows the likely impact on capacity at airports, countries and regions if an airline enters or leaves an alliance."
01 February 2013- "Malaysia Airlines becomes part of oneworld® at midnight Kuala Lumpur time tonight, adding one of Asia's leading airlines to the global airline alliance that aims to be the first choice for frequent international travellers the world over. "
Eliminate the competition. Insurance pay offs - to fund projects and extort.
http://iadweek.me/2015/08/24/press-release-willis-appoints-toby-wemyss-a...
http://investors.willis.com/phoenix.zhtml?c=129857&p=RssLanding&cat=news...
http://centreforaviation.com/profiles/alliances/oneworld
http://www.oneworld.com/member-airlines/oneworld-airline-affiliates
Modern version of EHM.
Goldman - a hand in every pocket.
BTW, Malaysia introduced a 6% GST 1 April - April Fools' this year. A regressive tax, going from 0 to 6% in one wallop.
This in the midst of 'the scandal' of $11 Billion USD mysteriously missing from government investment fund 1MDB and the huge sum wired into PM's personal account.
And actually that ain't all.
Yes, some are indeed pissed off...
"We don't have the ethics to make those level of decisions." Or the maturity
Ha. Damn skippy. True. I enjoy a commentator who is not mind numbed with bad thinking. A lot of Americans are propagandized since birth, so they cannot take the red pill. They become unmoored when they realize most of what they know or think they know is wrong.
All decisions are reduced to "How much money can I make?" Or, "How will the markets react?"
At the very root of this "root" is the nature of credit money, which wants to grow at an exponential. More specificially the debt instrument wants to grow at an exponential.
Humans are now reduced to thinking of their fellows, as "How much can I get from him/her" and How much is that going to cost me? I have to pay my debts!
Everything is reduced to money and has been monetized. This monetization is required in order to pay growing levels of usury.
Usury was/is forbidden in every major religion as mortal sin - equivalent to death/murder. Where is the outrage from the supposed Christians? Oh that is right, American churches get tax exempt status...let's not rock the boat. The Jewish money system is just fine, we are "growing" because of it.
Growth itself is an oxymoron and is required doublethink. All economic activity is actually conversion, taking away the free goods of the earth and converting them with labor, to then fashion useful things and services.
Conversion can easily follow a natural growth curve, but exponential usury based systems follow an exponential unnatural curve.
Money needs to come under control. Fee based systems have much less rent extractions, and do not transfer wealth from the many to the few.
Corruption by one man of 100's of millions in USD? Well played sir! and here I thought the long lost black ninja turle, Zumatello, was evil with his paltry 20-plus mil in corruption, seems he is still smallfry ...
"Marcus Goldman was born in Trappstadt, Bavaria, Germany, the son of Ella and Wolf Goldmann, a former schoolteacher and cattle dealer. His family was Ashkenazi Jewish. He immigrated to the United States from Frankfurt am Main, Germany, in 1848 during the first great wave of Jewish immigration to America, resulting from the Revolutions of 1848 in the German states.
Upon arriving in America, he worked as a peddler with a horse-drawn cart and later as a shopkeeper in Philadelphia... Goldman relocated to New York City and hung out a shingle on Pine Street in lower Manhattan, with the legend "Marcus Goldman & Co.", setting himself up as a broker of IOUs."
Samuel Adler (December 3, 1809 in Worms, Germany – June 9, 1891 in New York City) was a leading German-American Reform rabbi, Talmudist, and author. He was also the father of Felix Adler, the well-known founder of the Society for Ethical Culture.
"(Marcus Goldman) His oldest son, Julius Goldman, married Sarah Adler, daughter of Samuel Adler."
Marcus Goldman (1821–1904), founder of Goldman Sachs, married to Bertha Goldman Julius Goldman married to Sarah Adler Goldman, daughter of Samuel Adler (1809–1891)
https://en.wikipedia.org/wiki/Ethical_movement
https://en.wikipedia.org/wiki/Samuel_Adler_%28rabbi%29
https://en.wikipedia.org/wiki/Goldman%E2%80%93Sachs_family
1781 October 21, AUSTRIA
Joseph II rescinded the law forcing Jews to wear a distinctive badge. The regulation had been in effect since 1267, more than 600 years.
http://www.jewishhistory.org.il/history.php/day3.swf?letter=a
'how some $700 million from 1Malaysia Development Berhad mysteriously ended up in Najib’s personal bank account.'
It was just resting in his account...Father Ted
https://www.youtube.com/watch?v=VajdHXR3VrM
Now you understand why 2 Malaysian airplanes were shot down (both by America) .
1. Fcuk the EU policy by cabals
2. Muzzies crashed planes into WTC 9/11 , eye for eye , tooth for tooth , hand for hand , foot for foot(Toraah), we make our score now. (However if everyone follows that , whole world will be full of handicapped , thats what the whole world is being led to)
3. Oil - why muzzies are so oily but oil is sweet & we lick oil
4. Petrodollah - thats the backbone
so hijack (hello NSA) the oil producing nation , either change its govt using dollah paid NGO crowds or by installing military dictator.
Malaysia is gonna be another Libya , watch it.