Someone told me about Tun Daim’s comments about the impending bankruptcy of Malaysia due to the ‘worthless’ ringgit in September. The person also said the best would be to move whatever Ringgit I have into other currencies or out of Malaysia to save what I still have. I replied honestly, ‘I only have money within Malaysia today.’ Yes, I pro-actively hedge against all these potential issues with loss of value but I do not think I will be taking any drastic actions currently.
I hope I am right in believing the things I believe in, including the many economists, BNM, the three international rating agencies, the analysts from foreign and local banks and even International Monetary Fund and World Bank. None of them have been saying what was reportedly said by Daim. I told the person that I am not sure if Daim would say that because I still consider him a much better banker than majority of all the CEOs of the banks today. Here, read a bit about him. http://www.daimzainuddin.com/about.php Fortunately, a check revealed that the news was a fake one. Hopefully my money is still safe?
Oh yeah, very importantly, where investment is concerned, I do not believe anything that the politicians say. Not just one side but from both sides. I think I know very slightly more than majority of them. That’s why they are politicians and I am just an ordinary Malaysian. Happy believing, no matter what your belief is.
written on 5 Sept 2015
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