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  1. #11
    Join Date
    Oct 2008


    Quote Originally Posted by pywong
    Financial Illiteracy: The school system does not teach us how the financial system really works. We are not taught how to manage ourselves financially. We are encouraged to get into debt. That sets us up as suckers for the banks and financial institutions to exploit.

    It's always easy to blame others and not take responsibility for our actions. Stupidity is not an excuse in this Dog eat dog world. If we want to survive, we just have to learn to be smarter. Sounds harsh but we all have to learn the hard way.
    Facebook: Elvie Ho
    How can they afford to service their loan of 200K if they earn less than 3K?Scheme launched for young adults to get 100% financing for new home
    KUALA LUMPUR: Young working adults can now buy themselves a new home without having to pay a sen in down payment.


    Elvie Ho: Jenn,if a person earn 2,800 per month,his take home pay minus EPF is only 2,492.His monthly repayment loan will be more than half his salary.I dont see how he can survive unless he eat maggie mee everyday!

    Woong-sin Hiu tis could b an observation tat could b relevant. Umno n their bn machai property developers r sitting on a mountain of unsold properties, so they made up tis same trick tat d west had just being thro, easy loans,flexible terms, low interest, sell sell sell, even to those tat d west term, "Buy-to-Let" landlords(thus increasing d pool of punters) customers, domestically d housing mkt, other then Klang valley n penang island,will b facing a challenging time n it's not going to bottom out any time soon. if those punters tat had secured their house on a 100% mortgage n d property price falls, u r buggered, u r stuck in a negative equity trap n many were bankrupt on tat when they can't service d interest rate, n don't 4get, in a volatile economy, interest rate could spike up suddenly, then we r fucked. n those clever crooks from umno n bn had oledi pocketed your monies..
    Elvie Ho Woong,I agreed with you,gov should built more apartments costing less than 100K and sell to those earning below 3K.How could the rakyat earning less than 3K afford loan of more than 100K?
    Woong-sin Hiu politically it can b a smart move to ensnare voters to b stakeholders which eventually could create a more manageable nation. but tis lot don't c it tat way, any person with some common sense can c d sum don't add up with their propose loan scheme, if they cut back @ their kickbacks n their inflated land banks by 50 % they still makes thier millions..tis lot of political cum businessmen n rafidah r so blatantly greedy in their haste n just milk it like they is no tomolo.
    Wong Piang Yow The loan is a trap. 1970, a graduate buy a double-storey terrace house in SS 2, Petaling Jaya for 51 months salary. Today, same house take 28 years! We need to change the govt, push new govt to reduce the construction cost to half so fresh grad can buy in 14 years.

    Step 1: This is possible by cutting red tape, corruption and stopping unnecessary surrendering of land for nonsensical infrastructure and facilities. Privatised monopolies like telecoms, TNB, Water and sewerage are blackmailing the developers by demanding more land than necessary. They also demand supply of spare parts for the plant and machinery in the sub-stations for up to 5 years. They have to be stopped. The Govt oversight bodies are not doing their job to protect the consumers. Many of the senior govt servants serving there can retire with a golden parachute to join the very companies they were supposed to supervise.

    Step 2: Govt provide pre-approved standard building plans that developers can use immediately. They only need foundation design. Town layouts should be designed under a master plan so developers and investors can have confidence to invest. This will cut down on holding cost.

    Step 3: Release more state land for housing so land prices can come down.

    Step 4: Hold developers to account by implementing the build-then-sell system to protect house-buyers. The law is in place but BN don't want to enforce it. Today many innocent buyers are cheated by unscrupulous developers who abscond with their money leaving the projects abandoned. The govt don't bother to go after them and the laws does not protect the house-buyers.

    Step 5: Increase productivity so salaries can go up. This is more long-term and ties in with improvement in our education system. We need English to be taught so our graduates have a higher market value to the international investors. Malaysia can be a good outsourcing centre because we know Malay, English, Chinese and Tamil to serve China and India plus the Western countries.=

    You want cheaper housing, change the Government first. Current govt is only interested to suck our blood.
    Wong Piang Yow House prices: I just came back from Perth. A fresh engineering grad makes AUD 60K a year. He can buy a bungalow single storey house with 4 - 5 years of salary, I am told. If our graduate takes 28 years just to buy a d/s terrace house, something is wrong!
    Wong Piang Yow This excellent article by Sakmongkol explains better what I have been trying to say but from the angle of using EPF money (your money!) to finance housing schemes for the rich.

  2. #12
    Join Date
    Oct 2008


    In this interview lies the answer on how the modern Rat Race is maintained - the principle of forcing Rats to work for paper money printed by the Central Banks....

    6/7 Antal E. Fekete - WHAT YOU ALWAYS WANTED TO KNOW ABOUT GOLD - But were afraid to ask

    The following is a transcript of an interview requested by a gold-friendly hedge fund.

    Q.: Professor Fekete, you are known as a staunch advocate of a return to the gold standard. But mainstream economists are saying a gold standard is not practicable and they are fighting the idea with everything they have. How do you answer their criticism?

    A.: To say that the gold standard is not practicable is the same to say that honesty is not practicable, and Constitutions are made to be blithely ignored when convenient. The American Constitution, for example, mandates a metallic monetary standard for the United States in the clearest possible language. Opponents of the gold standard have never been able to muster up the moral fortitude to amend the Constitution so as to formalize the abolishing of the gold standard. Yet in 1933 president Roosevelt confiscated the gold of the citizens, gave them irredeemable paper in exchange, and proceeded to write up the value of gold in terms of the paper by 75 per cent. Might makes right: if you cannot do it fairly and legally, then you can use the strong arm of the government to do it through chicanery, backed by the constabulary and the jail cell.

    More recently, in our own century, Switzerland changed her Constitution in which the gold standard was also enshrined, through a referendum. Citizens were given a week-end to debate and decide the merits or demerits of the proposed constitutional changes. The indecent haste with which they were railroaded through the constitutional process betrayed the bad conscience of the authors.

    One of the key principles supporting a gold standard is that jurisprudence cannot tolerate a double standard of justice. The government, its departments and agencies ought to be subject to the same contract law as are citizens. There are no valid grounds to allow the Treasury and the Central Bank to issue obligations which they have neither the means nor the intention to honor — while everybody else doing it will be dealt with according to the Criminal Code. To say that the gold standard is not practicable is the same as saying that the government should be exempted from the provisions of the Criminal Code in its dealings with its subjects.

    Q.: What would be the basic steps involved in reintroducing a gold standard? How to proceed?

    A.: Three indispensable steps are involved.

    First, the government should open the Mint to gold. This means that everybody who wants to convert his gold of the right quantity and quality into gold coins of the realm should be able to do so at the Mint, free of seigniorage charges, and with no limit imposed on the amount. In other words, they would get gold back, ounce for ounce, in coined form, and the cost of minting would be absorbed by the government, the same way as it absorbs the cost of maintaining highways in good repair. Conversely, owners of the gold coins of the realm must have the right to hoard, melt down, or export them as they see fit. them as they see fit. This is designed to vest the right to regulate the money supply in the people, rather than in unelected bureaucrats.

    Second, “legal tender protection” of paper money must for once and all be declared unconstitutional. This is designed to remove coercion whereby labor can be forced to accept irredeemable currency for services rendered.

    Such coercion was first legalized in France and Germany in the year 1909, just five years before the outbreak of World War I. These countries wanted to make sure that civil servants and military personnel could be paid in chits, thus putting the entire labor force at the disposal of the government — regardless of the state of budget and collection of taxes — in case of war. The motivation behind the second provision is that governments should not be able to wage undeclared and unpopular wars, as could kings of old, but must raise taxes. World War I would have come to an early end but for the legal tender laws. As soon as treasuries had run out of gold, the belligerents would have been forced to make peace, unless the electorate agreed to pay for the continuing bloodshed and destruction of property. And the world would have been the better for it.

    Third, the principle known as the “Real Bills Doctrine” of Adam Smith should be observed. Bills of exchange drawn on fast-moving merchandise in most urgent demand by the consumers, which mature into gold coins within 91 days (the length of the seasons of the year), must be allowed to enter into spontaneous monetary circulation. This would guarantee the flexibility of the monetary system not through government coercion, but through the voluntary cooperation of producers and consumers in satisfying human wants.

    It can be seen that the market for real bills is the clearing house of the gold standard. In 1918, at the end of World War I, the victorious allies decided not to allow the world to go back to multilateral international trade. To be sure, they wanted to go back on the gold standard, witness Great Britain’s decision to make the pound sterling once more convertible into gold at the pre-war exchange rate in 1925, but with only bilateral trade allowed. This meant nothing less than the castration of the gold standard: once its clearing house was amputated, it could not perform.

    The allied powers did this out of spite and vengeance: they wanted to cripple Germany over and above the provisions of the Versailles peace treaty. Forcing bilateral trade upon Germany was equivalent to peacetime blockade whereby the allied powers could monitor and control Germany’s imports and exports. The measure backfired. The Great Depression and the 1931-1936 collapse of the international gold standard was due to the forcible elimination of the multilateral financing of world trade with real bills.

    The gold standard did not collapse because of its “contractionist nature” — as alleged by Keynes. It collapsed because of its clearing system, the bill market was blocked. Falling prices in 1930 were not the cause of the Great Depression: they were the effect. The cause was falling interest rates. Incidentally, falling interest rates were in turn caused by the illegal introduction of “open market operations” by the Federal Reserve of the United States in 1921, whereby the central bank pays bribe money, in the form of risk-free profits, to bond speculators for bidding bond prices sky-high.

    Q.: To what extent should money be “covered” by gold?

    A.: The Real Bills Doctrine provides the answer to that question. There are on average 75 business days in a quarter. Therefore on each business day, on average, one-seventy-fifth, that is, 11/3 percent of the outstanding real bills mature into gold. Sufficient gold must be available at all times to pay the bills at maturity; more if the discount rate is rising, less if it is falling. In normal times the commercial banks should have that much gold flowing to them in the ordinary course of business, with which they can pay the maturing bills. If times are abnormal, banks go to the bill market and sell at a discount a sufficient amount of bills from portfolio to raise the gold. This should be no problem: a maturing real bill is the best earning asset a commercial bank can have. At any given time there are commercial banks somewhere in the world overflowing with gold. They scramble to acquire earning assets. The value of real bills increases every single day through maturity. They represent “self-liquidating credit”. Sale of the underlying merchandise to the ultimate consumer provides the wherewithal for their liquidation.

    Q.: What happens if a country has no gold in its coffers?

    A.: Such a country will experience a rise in the discount rate. The appearance of a positive spread between the discount rates prevailing in two countries improves the terms of trade in favor of the one with the higher rate. It can offer lower cash prices on its exports, while paying lower prices (91 days net) for its imports. This means that the country gets the gold for its exports 91 days before its bills payable in gold for its imports fall due. In addition, the higher discount rate will induce an inflow of short term capital that will help finance both exports and imports. We have to remember that imports are not financed by exports, not by gold. Gold is there to tie the country over through temporary imbalances.

    Should this help not be sufficient to meet the shortage of gold, then consumers, if they want to eat, to keep themselves clad, shod and, in winter, warm, will have to dig into their pockets and come up with the gold coin to pay the bills for their imports upon maturity.

    The point is that a shortage of gold need not cause privation: thanks to the discount-rate mechanism it is a self-correcting condition.

    Q.: You have announced that in August you will start a school, and call it the New Austrian School of Economics, in Budapest, Hungary. Why new? Why Austrian? Why in Hungary?

    A.: The Austrian School of Economics was started by Car Menger (1840-1921) of Austria-Hungary who deserves the epitaph, along with Isaac Newton, humanis generis decus (pride of the human race). The first members of the school, like Merger himself, were all great monetary scientists who abhorred the idea of irredeemable currency. Keynes introduced the notion that the gold standard is a “barbarous relic” and should be discarded. Through bribe and blackmail academia was enlisted to rally to the new doctrine, while the Austrian School withered.

    When the intellectual bankruptcy of Keynesianism — which turned things upside down in castigating the virtue of thrift and lionizing the vice of prodigality — has become obvious, the Austrian School has gone through a renaissance, especially in the United States, calling for sanity and return to the gold standard. However, the “American Austrians” are vehemently against the Real Bills Doctrine of Adam Smith for doctrinaire reasons, as it contradicts their holy of holies, the Quantity Theory of Money. They do not understand that real bill circulation is spontaneous and its suppression is nothing less than unwarranted interfering in the operation of the free market. They do not see the difference between the discount rate (yield on real bills) and the rate of interest (yield in the gold bond).

    This prompted me to start my school in Hungary where I live. It would be a disaster if the American Austrians succeeded in making their “100 percent gold standard” a reality. It would not survive the first Christmas shopping season. Markets would seize up, and the gold standard would be given a bad name for the second time.

    Austria and Hungary used to be a dual monarchy during the days of Carl Menger, sharing not only the monarch, but also their scientific and cultural heritage.

    Q.: Why a gold standard? Why not pick a basket of precious metals, or of some other marketable commodities to serve as the standard unit of value?

    A.: American money doctors arein the habit of ridiculing gold in comparing it to frozen pork bellies that, horribile dictu, have been trading in the same pit since gold was expelled from the Monetary Paradise. This reflects a mindset suggesting that gold, at best, is just one of several marketable commodities, and a basket of wider selection could provide a better monetary reserve than gold.

    This position is false. Gold is no frozen pork bellies — wishful thinking of the American money doctors notwithstanding. The reason is that the marginal utility of the former declines more slowly than that of the latter. In fact, the marginal utility of gold declines more slowly than that of any commodity (or a basket of any commodities) known to man. That’s what makes gold what it is: the monetary metal par excellence. That’s what makes gold the only monetary asset that has no counterpart as a liability in the balance sheet of someone else.

    Incidentally, there are only two monetary metals: gold and silver. Other precious metals such as platinum and palladium are not monetary metals. What sets monetary metals apart from other precious metals is their stocks-to-flows ratio. They are a high multiple for the monetary metals, but a small fraction for other precious metals.

    * * *

    Q.: Critics say that historically, under the gold standard, the world economy languished, trade was sluggish, technological and therapeutic innovation was unexciting, in a word: the gold standard has never worked well. How do you answer that?

    A.: This allegation is just the opposite of the truth. The heyday of the gold standard was during the 100 years’ period between 1815 (the end of the Napoleonic wars) and 1914 (the start of World War I). This was the age of transcontinental railways, intercontinental shipping, when all the key inventions were made that ushered in the age of electricity, of the internal combustion engine, of aviation, of wireless telecommunication, of the X-ray, etc. Financing these discoveries and their applications in transportation, telecommunication, and therapeutics would have not been possible without the gold standard and the accumulation of capital that it facilitated.

    Q.: Introducing a gold standard hardly seems possible today, in view of the gigantic injections of new currency into the economy world-wide. How could the gold standard handle that?

    A.: It wouldn’t. The new gold standard would let the regime of irredeemable currency run itself aground and boil in its own juices of excess fiat money. When it can no longer handle the task of delivering food and other necessities to the people, when it can no longer provide employment to the majority of the population, the gold standard will spring back to life spontaneously. People have to eat, and they also have other necessities. They must have work to be able to earn a living. It will dawn on the world, maybe unexpectedly for the majority, that gold has a place underneath the Sun. Gold is that hard core of capital that can be destroyed neither by inflation nor by deflation, that will survive any consolidation of balance sheets. Gold is at the heart of the healing process of the world economy that makes survival possible.

    Q.: Is a gold standard the ultima ratio to cure the human weakness, the belief that you can multiply wealth by printing money without limits? Is it not true that no central bank could ever stand up to do-gooder politicians?

    A.: Friedrich Hayek, the Nobel-laureate Austrian economist thought so. He said that there would be no need for a gold standard but for the propensity of governments to spend beyond their means.

    I don’t believe that. I see gold everywhere, independently of the government’s spending propensities. Even without a gold standard, gold has a role to play in forming prices, wages, rents, the rate of interest. It helps to find the balance between short- and long-term satisfaction; it determines the marginal productivity of capital and labor. It is like air, we don’t see it yet it’s there and, without it, there is no life.

    You need a yardstick to measure value. Gold is the raw material of which that yardstick is made.

    Q.: In the past states also went bankrupt, some repeatedly, e.g., ancient Athens, Rome, or France in the 17th and 18th centuries. This shows not only that such occurrences are possible under a gold standard, but also that the powers-that-be could always circumvent limitations put on coining money and restrictions on banking whenever the idea of scarcity of gold takes hold. What makes you think that a future gold standard may be more successful, and could endure for a long period of time?

    A.: There is no hard-and-fast limit on the amount of self-liquidating credit that can be safely built on the unit weight of gold. Improvements in clearing techniques, such as those in telecommunication, freight-forwarding and warehousing will increase the amount of credit outstanding while there is no corresponding increase in gold bearing that credit. It is this property that makes gold the ultimate extinguisher of debt. It is simply not true that restrictions put on the economy by the gold standard are “contractionist”, and that the “powers-that-be” are justified in breaking those fetters.

    Gold is not scarce: in terms of its stocks-to-flows ratio gold is the most abundant substance on earth. But for the gold standard to endure man has to have confidence in the promises of government to pay gold. If this confidence is impaired, gold tends to go into hiding and then the system may break down. The answer to the problem is that the government must keep faith with its subjects without fail.

    * * *

    Q.: What is your opinion of the governments’ handling the great financial crisis, the Greek crisis, the crisis of the Euro, and the other currency crises brewing? How long can they contain the “debt-firestorms”? Will they be able to extinguish it with a shower of new debts?

    A.: The governments of the industrialized countries bear full responsibility for bringing the world to the brink of this crisis — the greatest financial and economic crisis ever. They should have resigned in admission of their guilt, and let new governments armed with a better economic theory take over and work out the remedy. Instead, they doggedly cling to power. Their analyses of the causes of the malady are faulty; the remedial measures they have recommended are the old nostrums, incredibly inept, nay, counter-productive.

    Take the example of the runaway growth of the debt tower. The great financial crisis, the Greek crisis, and all the currency crises still at the brewing stage, are part of the same problem, namely, the debt problem. It goes back to the year 1971. On August 15 of that fateful year the U.S. government defaulted on its international gold obligations. By now the debt tower threatens with toppling, and burying the world economy under the debris.

    The reason for the exponential growth of debt in the world is that the international monetary system has been lacking an ultimate extinguisher since 1971. Total debt in the world can only grow, never contract. We should do well to remember that, since time immemorial, gold has successfully acted as the ultimate extinguisher of debt — until it was forcibly removed from the international monetary system in 1971. Paying debt in gold extinguished the debt, period. Since 1971 governments have pretended that paying debt in U.S. dollars extinguished it, too. But in fact it did not. Debt was merely transferred from the debtor to the U.S. government and kept accumulating. Transferring debt is not the same as extinguishing it. Debt accumulation has a natural limit. This limit has now been reached.

    Your description of the debt-tower as a firestorm is apt. Governments of the leading industrialized countries will not be able to contain the firestorm they have started. They are just pouring oil on the fire.

    Q.: How will the current situation unfold? Do you think resolution will come in the form of hyper-inflation or deflation?

    A.: One has to be careful with these terms. Both inflation and deflation mean destruction of wealth through destroying the value of obligations; the former through depreciation, the latter through default. It is also possible to have a mixture of both simultaneously.

    But if you insist on my answering your question, chalk me up in the deflation column. Signs of deflation are all around us. Rivers of new money are unable to turn receding prices and interest rates around. Confidence in promises to pay is evaporating. Banks do not trust one another with overnight money. Paper gold is being pushed down the throat of those wanting physical gold. Worse still, vanishing confidence has reached the stage of contagion. Paper wealth is disintegrating before our very eyes. The domino-effect is spreading: the collapse of one firm brings down two other. Most frightening is the shrinking of employment. It is leading to a break-down in law-and-order. Governments are completely unprepared and think that it is just a matter of printing more money, for which they are superbly equipped, to prevent further contraction.

    Q.: Your answer to my next question would certainly interest our readers very much. Are you invested in gold, silver, and other precious metals? Would you still buy them at these elevated prices?

    A.: I take exception to your use of the word “investing”. To my way of thinking holding monetary metals is not investing but more like taking out an insurance policy. I don’t think the other precious metals (or stones, for that matter) make good investment. As far as the monetary metals, gold and silver, are concerned, you would be well-advised to buy some more every month routinely, regardless of the price. You should look at your holdings as you look at your fire insurance policy. If you never need to collect, well, so much the better.

    At the optimum, you would track the value of your assets not at their dollar price but at their gold equivalent. In other words, you would carry your balance sheet, both on the asset and the liability side, not in dollar or euro units, but in gold units (ounces or grams). It takes self-discipline to do that, but this is the only way to avoid the pitfall of always looking at your own face in a curved mirror. The torsion of the image may easily translate into torsion of the mind.

    Q.: I come to my final question, if I may. What do you think the gold price will be in terms of U.S. dollars or euros in 3 to 5 years’ time?

    A.: I am sorry, but I am not a practitioner of clairvoyance. I think I would compromise my reputation as a scientist if I ventured to answer this question. Besides, I don’t think I am very much interested in knowing. Guesses at the future price of gold are dime a dozen.

    A more appropriate — and interesting — question may be whether the dollar and the euro will still be around in 3 to 5 years. I am not sure about the euro, but I think the dollar will definitely be around 3 years from now. 5 years — maybe not, but I wouldn’t be surprised if the staying power of the dollar extended beyond 5 years.

    It is dangerous to underestimate the strength of the poison you have to live and work with.

    Interviewer: Thank you for your time to talk to us.

    Professor Fekete: Thank you for the opportunity to express my views.

    May 6, 2010.

    Antal E. Fekete


    Copyright © 2002-2008 by Antal E. Fekete - All rights reserved


  3. #13
    Join Date
    Oct 2008

    Re: THE RAT RACE PART IIIB: The Bonzification of the Malay mind

    In posts 4 & 5, we wrote about how the Ruling Class wage propaganda warfare on the masses as well as use the Rat Race System to exploit them.

    Quote Originally Posted by pywong View Post
    GREED, IGNORANCE, APATHY & SLOTH, Conformity, Conditioning, Start Early, Illusion of paper money, Education, Obedience, Financial Illiteracy, Distract them, Keep them busy, Inflation, Assigning Labels, Divide & Rule, Envy, Fear, Ego, Sloth & Resistance to change, War
    Hishamuddin Rais has an interesting term to describe what UMNO has done to the Malays - bonzification of the Malay mind. He also calls upon the Chinese to sympathize with the Malays and help them break out of the trap. I can relate to that.

    Hisham Rais: Umno has shrunk the Malay mind

    Joseph Sipalan
    Sep 7, 10

    Renegade artist Hishamuddin Rais declared that the Malay mind has been "bonsified" (shrunk and distorted, like a bonsai plant) by Umno's political agenda in order to perpetuate the culture of fear against non-Malays.

    The former ISA detainee said that it is typical of Umno to play on racial fears to convince the public that they are the best option for Malays to remain at the forefront of social and economic development in Malaysia.

    "This process that 'bonsifies', nullifies and stupefies (Malays) goes back to the British time. (Malays) are led by lazy leaders and lazy thinkers," Hishamuddin (middle in photo) said at the 'Malays are muted too!' forum at the KL and Selangor Chinese Assembly Hall last night.

    The controversial activist noted that Malays have been indoctrinated to fear new ideas and 'ghosts' of Chinese supremacy, to the point that the Malay public believe that the 'ghosts' are real threats to their existence.

    Taking the example of bomoh or witchdoctors, Hishamuddin claimed that Umno employs the same tactics to convince the Malays that they are constantly battling against hantu (ghosts).

    "In Malaysia it is very simple. The hantu for the Malays are the Chinese. The Malays are made to believe that there are all sorts of hantu, to encourage the public to be thankful for Umno (to save them).

    "It's just like (the tactics of) the bomoh in the kampung, where kampung folk will be told that there are all sorts of hantu to deal with... Umno uses the same modus operandi," he said.

    Playing up fears

    Hishamuddin claimed that just like the colonial British in Malaya, Umno realises that a liberated Malay mind is a threat to their existence, hence the ruling party's efforts to stop the liberalisation of the Malay mindset.

    He alleged that Umno would never agree to free the Malay mind as it is all about maintaining the ruling party's power and control over Malaysia's wealth.

    Hishamuddin noted that such fear of losing power has only taken hold fairly recently, evident especially in the ruling government's efforts to perpetuate the fear of a recurrence of the May 13, 1969 racial riots.

    "They put the fear in Malays that the Chinese wanted to take over the country. I thought that (notion) was mad, because this is the most mismanaged country, with corruption in the police and the judiciary.

    "Because the country is so mismanaged, do you really think the Chinese want to take over the country?" he quipped.

    Speaking to an audience of around 160 people, Hishamuddin stressed that the ruling government is simply working on the premise of "manufactured consent"', where it employs public institutions such as the Malayan Sultanate to force people to agree with whatever opinions or policies it makes.

    He said that it has perpetuated the culture of 'lazy thinkers' among Malays, where the best minds end up being unwilling or unable to contribute to the community's advancement.

    Licence just to laugh

    Hishamuddin stressed that it is unfortunate that the best Malay minds have been left out of the nation's education system, to make way for 'half-educated' Malays who are bent on maintaining the status quo.

    "Malays have become very lazy thinkers. To the non-Malays, I ask that you have sympathy as the Malays are faced with a situation where their reading material is very limited and (the government) allows less and less people (to form their own opinions)," he said.

    Taking the example of the recent banning of comics by cartoonist Zulkiflee Anwar Ulhaque, better known as Zunar (right), Hishamuddin said it is ridiculous that public expression, particularly by Malay artists, should be censored.

    "Just imagine, just to laugh you need to get a licence... and if you want a licence you will have to engage in corruption to pay the Marxists," he said. Malaysiakini. Subscription required.

  4. #14
    Join Date
    Oct 2008

    Re: THE RAT RACE PART IIIB: The Bonzification of the Malay mind - How Mahathir did it?

    In the 2nd article below, read the garbage and twisted logic Mahathir spews out and the bonzaied brains lap it up. Goes to show how successful UMNO has become in warping human brains. When will the Malays stand up and fight this evil together?

    Finally, Mahathir concedes he screwed the merit system

    Mon, 06 Sep 2010 14:02

    Former Prime Minister Mahathir Mohammad in a statement (FMT Sept 4, 2010) finally admitted that he and the Umno government intentionally discriminated against innocent non Bumiputra students by denying their educational rights as enshrined in the Constitution.

    He said: "If we use the merit system , half of the university students (Bumiputeras) don't qualify..."

    What one can gather from his statement is that the education system over the past 53 years has failed to produce Bumiputera students to meet the set requirement by Umno's own higher educational qualification merits.

    Despite the billions spend to improve the educational achievements among Bumiputeras, citizens of this country are now been told by this longest serving Malaysian Prime Minister that Bumiputera students in Malaysia can only survive upon discrimination against their fellow non Bumi students. What a shame!

    The former Prime Minister also revealed the truth on why local public universities are constantly dropping in international standard ratings. He admitted that half of the undergraduates did not qualify for entry into universities but were nevertheless granted places merely on race considerations.

    I wonder how he justifies such brutal educational injustices. The moment a government tolerates such discrimination, it is actually planning to fail the country and its citizens over the years to come.

    By implementing this racist based policies, thousands of fully qualified non Bumiputera students are cruelly denied entry into matriculation courses , local public universities intakes as well the PSD scholarships.

    To summarise Mahathir's statement, he as the former prime minister and those in power ruling this country today clearly do not implement meritocracy in local university intakes, half of our university students are actually non qualifiers for higher education.

    Fully qualified non Bumiputera students are oppressed and suppressed by the implementation of racially biased educational discrimination. The Umno-led Barisan Nasional government over the past 40 years have conveniently violated article 8 and 12 of Federal Constitution. FreeMalaysiaToday....

    .................................................. .....................................

    1. I dislike to return to this subject but I need to explain myself.

    2. I was prompted to write about the racism in meritocracy because of the reaction to Malay criticisms against the ideas coming out of the Chinese Economic Congress.

    3. The leader who made the statement on doing away with quotas etc said that cannot we discuss anything without (the Malays) raising racial issues. He apparently considers his call for meritocracy was not racial.

    4. It is racial beause he was advocating taking away the protection afforded by the NEP and quotas from the bumiputras and not from any other race. Obviously he believes that without these protections the bumiputera would lose against the non-bumiputera.

    5. As much as giving protection to one race is racial, taking it away from that race so as to benefit another race must also be racial. The suggestion coming as it did from a racially exclusive economic congress must be because it is in the interest of that race. That must be racial even though the demand is for meritocracy.

    6. I am not proud of the protection afforded the bumiputera. It implies weakness. I don't think Malays and other bumiputera like to think that they are inferior in any way.

    7. But the reality is that in Malaysia the bumiputeras need new skills and a new culture even. These cannot be had by them in a mere 20 years. The original planners of the NEP were too optimistic.

    8. I had suggested merit for university entrance in order to shock the bumiputera into getting serious about their education and their own future. However it did not work.

    9. In education whereas there is about 60% bumiputera in the Government universities, there are less than 10% in the private universities. And there are more private universities, university colleges and colleges than there are public (Government) universities. Even the 10% bumiputera are there because of scholarships by MARA. Take the scholarships away and there would be practically none.

    10. Why is it that the focus is only on what is done by the Government? If the bumiputera in Government universities should be reduced, then the bumiputera in the private universities should be increased. Or else meritocracy would reduce the number of bumiputeras getting university education. Or is it the intention to deny bumiputeras higher education? They are not the best but they are qualified.

    11. It is the same with foreign universities. Because they can afford it there are more non-bumiputera than bumiputera in foreign universities. This must increase the disparities in higher education between different races.

    12. Lest I be accused of making unfounded assumption, a proper audit should be done by an impartial team.

    13. When I was still PM, the Government decided to allow for private colleges and universities to be set up. They can twin with recognised foreign universities and should issue their diplomas and degrees. The reason for allowing private institutions of higher learning is to reduce cost of tertiary education so that the parents who could not afford to send their children abroad can have access to foreign qualification from local private institutions. You can guess who are the beneficiaries of this Government policy.

    14. As for contracts even with the 5% advantage given to bumiputera contractors, many of the Government contracts do not go to them because of their lack of capacity. Even if they do get, non-bumiputera contractors get most of the sub-contracts etc.

    15. Actually construction by the private sector is bigger than the public sector. In the private sector the bumiputera contractors get next to nothing. I suppose this is because the private contracts are given based on merit. Or maybe it is not. I don't know.

    16. Take away the minor protection afforded by the NEP and the bumiputera will lose whatever that they may have. Then racial division will be deepened by wealth division. I don't think this would be good for the country. Remember it was the disparity between rich and poor in Europe which led to the violence of the Communist revolution.

    17. I may be labelled a racist but fear of the label will not stop me from working for what I think is the good of the country. Nothing will be gained by dividing the people of Malaysia into poor bumiputera and rich non-bumiputera. The time is not right for disregarding the disparities between the races in the interest of equity and merit.

    18. For 46 years this country enjoyed relative stability and consequently good growth. But today the races are more divided than ever. Everyone has become racist, talks about meritocracy notwithstanding. Everyone is thinking about his own race. If I am included it is because I think it is dangerous for the rich to take away what little the poor has. che det

  5. #15
    Join Date
    Oct 2008

    The Rat Race Part III: Debtors for life just to enrich crony-developers

    See post #11 for earlier thread. This is designed to keep you stuck in the Rat Race for life.

    Friday, 11 March 2011 07:04

    Debtors for life just to enrich crony-developers
    Written by Malaysia Chronicle

    PENANG - The Federal government has been warned that its newly-launched 'My First Home Scheme' would eventually drive young working Malaysians into deeper debts.

    Steven Sim, who is Penang DAP Youth's treasurer, said the scheme, which enables young working Malaysians to obtain up to 100 percent financing to buy their first home, was an instance of how short-term solution was used to cover-up "long-term major social problem".

    “Recent reports showed that 60% of Malaysian households are earning a monthly income of less than RM3000 while 40% of the households are living with an average monthly income of RM1500.

    "Through this latest scheme, instead of addressing the issue of soaring property prices and being responsible as a government to provide affordable housing, the government is encouraging Malaysians to take up more debts,” said Sim in a statement to Harakahdaily.

    Sim reminded that spiralling property price had been long neglected by the government, and this he attributed to unplanned urbanization which encouraged mass migration of workers to cities, as well as lack of interest to provide proper housing to the people.

    "Government public housing schemes on the other hand are poorly managed, resulting in many of these houses in bad conditions due to years of neglect and abuse of the system by cronies who received public housings only to rent them out to others, mainly foreigners," he said.

    Prime Minister Najib Razak, in launching the programme yesterday, said those earning RM3,000 could look forward to buying houses costing from RM100,000 to RM220,000 with full loans offered by 25 financial institutions with a repayment period of up to 30 years.

    To qualify, buyers must be employed by the private sector for at least six months.

    'Only property developers will gain'

    Sim however said the scheme would aggravate the country’s household debt, and pointed out a Bank Negara statement recently revealing that the country’s household debt had risen to a staggering RM577 billion, or 74 percent of the country’s Gross Domestic Products (GDP).

    “The Government’s latest programme will drive up debts of the already debt-laden Malaysian families. The Prime Minister’s latest move can only continue to benefit property developers and the banks without solving the problems faced by the average Malaysians,” he stressed.

    Rather than allowing the market to dictate on such basic necessity as housings, Sim urged the government to take on a more proactive role in providing affordable and quality housing for the people.

    “It should also upgrade existing public housing schemes. In summary, the government should do a total review of the national housing policy to address the problem of housing and not drive Malaysians, especially young people into more debts.”

    - Harakahdaily malaysia-chronicle.

  6. #16
    Join Date
    Oct 2008
    Quote Originally Posted by pywong View Post
    Segment 1 of 2: The Exploiter's Strategies


    See Malaysia-today 25 Feb 2008, or 20 Apr 08

    For those who wish to explore more, we recommend George Orwell’s classics Animal Farm and 1984 or to watch the movies Soylent Green or The Matrix.

    In 1984 the ruling party’s slogans were:


    The reverse of the truth was exactly what we saw in Part I (We Are Doing Well).

    In case you don't understand what this clown is talking about, read George Orwell's 1984 above. BTW, he single-handedly launched Reformasi. History will give him due credit for his efforts. All these people are leaders in the UMNO War Machine. And their reward is Ascension to Heaven when they retire.

    Question: Can you trust that the EC will be run impartially, seeing that they are infested with ex-civil servants?

    Human rights movement like communism, says former IGP

    By Yow Hong Chieh
    October 26, 2011

    Tan Sri Abdul Rahim Mohd Nor chatting to Shazryl Eskay Abdullah at the Perkasa general assembly. – Picture by Jack Ooi

    KUALA LUMPUR, Oct 26 – The nation’s former top cop has likened the rise of the human rights movement in Malaysia to communism, and said this would lead to the questioning of “accepted truths” like the social contract.“Every century has its wave... and we cannot avoid being hit by this wave.

    “Now, it’s the human rights wave... Before that, it was the wave of Marxism, Socialism,” former Inspector-General of Police Tan Sri Abdul Rahim Mohd Noor said today.

    He was speaking at the 2nd Perkasa general assembly at Dewan Centrum here today after officiating the event.

    Calling the human rights movement a new religion, Rahim warned that civil liberties activists saw the US and UK as their spiritual home and drew parallels to how the Comintern had engineered the global spread of communism from its Moscow base.

    “Now we see many things being questioned because of the human rights wave,” he said.

    “They question the self-evident [social contract], as though they’re trivialising what was agreed upon.”

    He added that many leftist Malay leaders during the post-World War II period had been tricked into thinking the communists had their interests at heart but realised later that they were being used by “wolves in sheep’s clothing”.

    Rahim is best remembered for giving former deputy prime minister Datuk Seri Anwar Ibrahim a black eye following the latter’s arrest under sodomy charges in 1998.

    Also present at the general assembly today was businessman Datuk Shazryl Eskay Abdullah, who was fined in June together with two others for screening an alleged sex video of Anwar.


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