Why not use some of the reserves instead of more taxes

When this was raised in Parliament, Heng Swee Kiat’s PAP style reply was that the reserves cannot be touched. If now take a bit, tomorrow a bit, then eventually nothing left. What kind of logic is this? This is like the asking for one drumstick and they said you want to slaugher the chicken. There will be time when it is necessarily to use a bit from the reserves to tie things over like the how many times the reserves were used during Nathan’s time, was it thirteen times. How much was taken out and were they put back?

Why when there is supposed to be nearly a trillion reserves and not a cent can be touched? Is it like someone here said, want to keep the reserves as big as that of China? Or are the reserves thing a bottomless pit, can put in cannot take out? Or is it that there is really nothing left at the bottom of the pit?

Over three generations we, I used we because a big part of the reserves are the people’s own savings in the CPF, have squirreled quite a big sum of savings. Who is benefiting from these savings if the people contributing to it are not? At the rate the original Singaporeans are vanishing, the reserves would be benefiting foreigners that are being brought in by the millions and will be the main beneficiaries of our savings. The other main beneficiaries of our reserves are the millionaire fund managers getting paid by the millions. And the bigger the reserves, the bigger will be their appetite for risk and for more pay.

The other consideration will be that the sum is now quite huge and no one is so irresponsible to suggest spending them away. What the people are asking is to set aside some of the earnings to benefit the people. With the clever millionaire fund managers managing the reserves, the reserves should be growing every year and putting aside a sum to benefit the people would not deplete the reserves. I say again, no one is asking to spend everything, but just a part of the profits. Can understand this simple logic or not?

What is the truth? The reserves are actually the people’s CPF savings, or at least a big part of it. If they have problems returning the savings to the people andkept coming out with all kinds of schemes not to return, even to take by compulsory schemes, and keep telling people to put in more, you can make your guess whether there is enough money to return to the people. From this point, try to extrapolate how much is really there in the reserves.

The reserves are your money, not the govt’s savings or money, unless you believe one joker in Parliament claiming that the CPF is not your money and you deserve to be robbed of your life savings. Go and ask your MP and MP/Minister if the CPF is your money. If it is your money, then how much left are the reserves minus the CPF money and why you should not be benefiting from your savings but foreigners that are coming in to take over this country?

What do you think? I think they have a lot of money in the reserves. If not how to pay the fund managers tens of millions, some even wondered if some of the fund managers are being paid near to a hundred million. How near no one knows as their pay and bonuses are state secret. But surely if they can pay by the millions, the reserves sure got a lot of money.

Actually if they just put a few civil servants to park the reserves in FDs, safe and secure for 3% interest, there is no need to pay by the hundreds of millions to the fund managers and risk losing their pants and the reserves.

What do you think?


Anonymous said...

The Sinkieland Reserves r untouchable, nobody supposed to 'touch' it except AH LONG san. It's a rule set by the dishonourable son's sugar daddy. Why? ONLY FAMILEE R ALLOWED. The Jinx already said many years ago - 肥水不由外人田, or only for their kaki Lang. These reserves r for 未雨绸缪 or savings for a rainy days. Nobody can predict when the 'rainy day' will come but one thing is for sure with the China spendings on Matland infrastructures & elsewhere like OBOR, Sinkieland's economic demise is nearing, till the little red dot's D-Day coming, an immense reserves r necessary to tide thru the rainy day era of this island city becoming like a desert or ghost town.

Virgo49 said...

All these Ministers Are Black Crows in a Pack. Talk and Sing the same tune.

What's reserved for the Next Generation? ?

Said no more monies for next generation said so lah !!

All squandered away in Big Big Losses.

Talk Cocks

Anonymous said...

After long long years of easily get want they wanted, throughout their Commoners-Foresaken Life, with silver spoons and golden forks and diamond-studied plates, these fast-tracked self-centred scholarship-grabbers only know TWO thing in their lives - GRABING and HOARDING!

Anonymous said...

Why not use some of the reserves instead of more taxes

Why not?

Why not vote some more opposition as MPs instead of more PAP MPs?

Why not?

Sames reasons?

jjgg said...

Who can understand the BS that's going on.. got no money want to die die do their pet projects . All the projects got no feasibility done meh? If projects are feasible n provide acceptable rate of return.. then why not take from reserves n return it later.. perhaps the projects are unfeasible by any measure or perhaps the coffers are empty.. or perhaps the projects are mooted as an excuse to raise taxes.. i remember a time when singapore leaders openly said they got no money but yer they were able to build n resettle citizenry in hdb apartments. No frills needed.. now we spend billions on frivilous projects like F1 n the artificial garden.. n then raise taxes to cover the holes n in that process pay themselves even more. WTF!!!

Anonymous said...

The Reserves is reserved for fighting the inevitable WAR with Malaysia and Indonesia simultaneously in two fronts, for a period of at least one month.

Who would want to fight in such a SURE-LOST War? Getting killed for nothing? Defending foreigners and foreign millionaires and the Elitists?

Anonymous said...

If, let's say, Malaysia wants to take back Singapore and agreed to revert your Expiry Date 99-years leasehold to Freehold, and allow you to stay, live and work in any part of Malaysia, and return your CPF Savings at Age 55 without tieing you down with compulsory insurances to steal your money, would you vote to join Malaysia, thereby forsaking the Pseudo Independence and Pseudo Democracy?

Virgo49 said...

Hello Anon 9.39

Still have the Scared of own shadows as prograted by our Great Leader that Indonesia and Malaysia wants to Makan you? ?

This bogeyman is used to frighten the daft Sinkies for decades to vote for them.

You think Indo and the Mats harboured these Agendas??

Now Indonesia offering Sinkieland to have projects in their countries and Matland even have joint infrastructures like Siamese Twins joining each other.

Please dont further propagate the bogeyman effects of the PAP to put fears in you and spend those extravagance unnecessarily military's Toys.

Also, have all Sinkies young men to brainwash to obey them in National Slavery.

Z said...

What is the purpose of NS? To defend Singapore?

To defend Singapore against what or who?

Or is it to defend a few Billionaires' and Millionaires' assets?

What asset do you, commoners, have to defend? Your HDB-owned flat for which you were conned into believing is yours? Your CPF Savings for which you were conned into believing they belong to you? Your exhorbitantly prices cars for which you were conned into believing they are yours? Your foreigners who stay and work in Singapore for which you we're conned into believing that the create jobs for you? Yes, jobs such as taxi-drivers, toilet cleaners, security guards?

Or to defend the free-loaders foreigners who study in your schools and universities at you, the taxpayers' expense through easy scholarships, free lodging, tuition fees, bursuries, etc?

Or to defend your "Stupidity Cannot Cure"?

agongkia said...

Sinkies should stop dreaming of touching the reserves.
It's accumulated by our forefathers and should only be use at the last resort.
Entitlement mentality should oso have its limit.
Want more money go work and earn a salary.

Anonymous said...

The gang members scratch each others' backs and partake in the feast that rightfully belongs to the people . . .

Anonymous said...

Syonan fin web said reserves is total assets minus the liabilities. Assets include buildings and land. Reserves is no a figure in bank account if anyone has a sense of basic english.
Let say land and building increase prices 300%, the figure on reserves will include the increased value. Like city hall, columbo court, angteng baytao, all these buildings has increased prices and value, thus increase the reserves figure.

Wake up syonan. They said expected returns is 15.9 billions in this year. It is not cash. This is very weak if readers remember the real cash lost in one batch UBS was USD 4 billions gone in cash.

Therefore, cash collection on GST is almost certain to increase. Heng said money spent on building roads etc was closed to 20 billions. These are real cash spending.

If the non cash returns was only 16 billions, it is only safe? to use up to 8 billions. That is for estimation lah. Got real cash when building values are adjusted up?

In short, syonan is spending like rich second generation FU ER TAI.
Raising GST will shrink the total collection if it is not collecting more from tourists ie outsiders. If it is collect from citizens and PR, the money will shrink faster when at 9%. Retailers will have hard time to increase salary/ the only way is to implement CECA to get in more masters and doctorates from India to fill up top jobs: they will crease more jobs for citizens and PR, and GST will boom everafter.
No other way for citizens to earn more, when the elites are fu er tai.
Pay more tax like old folks to feed these fools. Better pray Heng to be next PM. He is more practical. Dont blame him if u vote for some keeongrenlai. Looks like Cash is running tight.

Virgo49 said...

Ahgongkia, Singaporeans are not asking for hangouts, dont talk non sense.

They are been squeezed till they cannot even breathe.

What's wrong to use the Reserves that been built by the Citizens instead of further taxing them??

Like we nearing the 70s still have balance cash of what's we earned and saved when we worked for them.

Now it's our rights to spend what we want and not what you want.

So why also restricted our own MONIES? ?

Singaporeans all the while worked hard for the Nation.If not we have this standard of living.

Don't believe that its all their Credits. They are the Ones who took the biggest UNJUST slices.

Anonymous said...

Actually, the sovereign wealth funds over the years have many opportunities to take part in IPOs globally.

You know from experience how very easy it is to make money if you are allocated shares in IPOs, no skills needed !

Virgo49 said...

Hello Anon 11.24, what's the need to take a risk to put your billions or trillions just to get another 3 to 4 percent extra interests??

Also, you might also not have only have your interests but lose your Principal Amount as well.

Just safe investments in World Banks and what's IMF lending loans to those in need countries are good enough returns.

Nowadays, with these Chalartans conning the World's enconmy and their respective schemes, it would safer for the Nation and citizens reserves to be in safer investments.

For example, certain TCs like the PAP TCs losing millions in the Lehman Bros and Sisters Con Schemes with the sanctions even from the MAS.

What's there to make extra for the Constituents who pay their dues thru their hard earned monies and you jokers just simply gambled them off??

You think you be also sharing the profits with your constituents if you have handsome profits from them??


Anonymous said...

Full or Empty. This is a question everyone wants to know except PAP MPs.

Anonymous said...

Full needs to raise GST to 9% to slow down the economy consumption.
Empty needs to raise GST to 53% to beat Nepal.

It is not full or empty in perception. Reserves is a mirage u see in sky not in figures. Ur perception is an illusion. One ex president oredi taught u this.

Virgo 49 said...

Decades, decades ago with all the built up Reserves thru the Blood, Sweat and Tears by all Singaporeans, a wise Government would know how to invest wisely in the Fundamentals of the Nation's Economy like Solid Down to Earth Businesses.

Trained the citizens to their Max in securing Solid Traditional Tested Businesses with Educational and Hands On Study.

They just want to follow the slippery roads of instant gratifications and lofty returns of punting and acquiring useless corporations that are going bankrupt.

One time like Chop Hoo They, the Abalone King who made their wealth in the down to Earth abalone business.

Grew greedy with frying their wealth over Shares and stocks with huge profits and dividends in the Markets.

Later on even lose their pants all together.

The George Soros of the Evil Empires manipulated without blinking their eyes with the sanctions of their equalling manipulative Government to swindle one and all.

Stupid Asians been manipulated by them by what's Asian Financial Crisses and what's Lehman Bros usless Bonds.

Even now SO many investors got burned with what Supposed to be Safe Bonds that they cannot even

Why in the World that a Company with its strong fundamentals can have their shares plunged into half and rise again the next day??

DONT believe in these nonsense.

Anonymous said...

Do not be fooled by them justifying the GST hike by saying some other countries have even higher GST.

Singapore is the costliest place to live on the planet.

eg a $5 meal in a lower-cost country with a GST of 10% - the GST is 50 cents.

The same meal in Singapore may cost $10, and a GST of 7% is 70 cents, which is already higher than that in the lower-cost country.

Anonymous said...

GST rate is not a sole measurement to cost of living. GST raises the cost. The rental on GST. The purchase of building on GST will be passed to consumers at higher rental or higher cost of sold products. On top of the added cost, consumers are paying the elite tax at increased price.

Consumers will buy less to sustain. The buildings after buildings retailers will kaput when big spenders tourists are not landing at changi but landing at bangkok.

U r right. Goods sold at this island is far expensive than Bangkok, both sides has gst so what? Its the total cost a consumer pays that counts. Most important of all, the never increase salary, curbed by never ending foreigners to bring down the level of salary policy is the hidden killer.

Overall, when jobs are hard to find, salary is fixed at same level, cost pushed up by GST increases, the elites gain, employers more risky, employees have to save up and buy less.

Watch for the CECA to stream in street printed masters and degrees holders. There are fewer jobs but bigger pools of white collar labor under the white papers targeting at 7 millions.

Anonymous said...

Maybe the population already 7 million on this tiny island of 719 square kilometers . . .

Anonymous said...

You think PAP MPs would want to ask in Parliament how much is left in the reserves? Did any one of them supported OTC when he wanted to know how much is there to protect?

Anonymous said...


Better you go to meet-the-people session & ask the minister in-charge of your GRC all these questions.

No use asking here ... most of the readers including me are goondus, don't know anything. Even if know also cannot do anything.

After asking your minister in-charge, you can then copy your questions to the PM & DPMs for comments too.

Anonymous said...

The buildings after buildings retailers will kaput when big spenders tourists are not landing at changi but landing at bangkok.....Watch for the CECA to stream in street printed masters and degrees holders.
2:57 pm

Already happening even before Sep 2015 lah.

But PAP could still get 70% votes in GE held in Sep 2015!

So u tell me what's the problem, I mean for PAP lah? If Sinkies suffer, it is Sinkies' problem, not PAP problem, correct or not?

Anonymous said...

Sinkies were taught the wrong concept about earning a living. They started life by being confined in camps and upon releasing, they still have to be recalled and do exercises. They thought their lives are sold to a concept called country. But when going for jobs to be interviewed, they find no such thing as country. There are all over the world job seekers getting ready to be interviewed. The question is how much u want? Those cheapest in asking ended with jobs by presenting the nicely printed like Master of HR Florida University, done in JB. Want mumbai also ada.

Some days back, one licensed electrician was angry. When time to get wiring done at a reno, the contractor hired unlicensed motorbike gang from Malaysia. Licensed under Pap is for hired, sitting down waiting for some stupid guys to call. Smart contractors take JB cheapestest. The same go to local university graduates. They are trained and told job market is for them. When they are interviewed, they know foreigners asked for less and got the employment pass from Pap.

Job market is like buildings after buildings for retailers. Foreigners can come to sell things. They cannot afford the rentals. Locals can only try when they are jobless. If u look at a building, no anchor like mtuc, Ginat, super mar, no chance lah: waste money. But Pap are unable to attract Walmar to come in. Lotte also cannot get. China chinese also dont want to risk their capitals. Kahfalled ran off long ago. U look at the new retail buildings, just far too many selling same things, same brands. So if u are retrenched and want to earn a living, u know shops is very risky to lose money bcos the elites have no ideas what they want sinkieland to be. NO vision for shopping yet they build far too many same buildings.

The same the elites do in job market. They let in the whole world including crooks with certificates, and unlicensed, to compete with the real degree holders and licensed type.

As u pointed out, they still get 70% popularity support. So u can only wait for the 70% to drop. But change your concept lah. U dont have a country similar to the vietnamese, or malaysians. U cannot find jobs in those places with sinkie passport.

And remember: never say you are sinkie in china. U will be better treated if u say u are from Malaysia. So u expect china chinese travel here to spend big on retails?

Its Pap s policies to kill jobs and produce lousy products by allowing cheap certificates holders to work here. U dont expect salary will increase when products are not sold.
But Pap will win at 70%. U should blame other voters, who else sabo u? Opposition like that guy who said he cannot form govt. Possible also. Main problems lie on voters have no standard.

b said...

Sg has 1t reserve, even if at low 5% return, it is 50b. 50b over 5m is 10k per person. Not enough? This is ridiculous. This is not even touching the reserves but the return on the reserves only. The ag must be sleeping or the one handling the reserves doing a bullshit lousy job.

Anonymous said...

Dont be fooled:
We have more than $1 trln in reserves...gic n temasek n mas.
Every yr blns are channeled directly n indirectly from stats board to these 3 national reserves enterprises. Even Jinx n gang lose many many blns...no problem still can on surface show good increase in net assets in accts. Budget surplus is $9bln but actual cash surplus is maybe $32 bln.....JUST THINK YEAR After YEAR... this squeezed king garhment has the greatest money collection tax system...so many indirect taxes. The sheep are so blurr...the media so controlled...the accountability so missing n the transparency so opaque...THE DARKNESS INDEED IS VERY DARK.

Anonymous said...

Spore taxes:
1. Income tax
2. Business profit tax
3. Highest car import tax 155% in world
4. Unique high COE as tax ($40k to 90K)
5. Carpark & extensive ERP charges
6. High fuel tax
7. High water tariffs
8. Inflated HDB prices thru market land prices charges to HBD to govt, who has near monopoly as landowner, by law (land acquisition act).
9. Conservancies charges
10. Maid levies
11. Workers levies
12 Highest compulsory CPF rates, but arbitraged by them thru low returns given to contributors
13. GST
14. Stamp duties
15. Real estate/property tax
16. Others like oligopolistic telecom charges, TV fees, etc
In the context of introducing millions of FTS to compete and depress our local PMET & workers salaries & wages...more than perfect competition..OVER competition.
While they hold almost total monopolistic political power destroying almost all competition paying theselves the highest politician salaries in the world, and many other big financial opportunities (just looked at the retired ministers in how many GLCs board of directors).

Anonymous said...

Break the PAP political power, citizens will get lower taxes & more & better job opportunities while the obscene politicians compensation will come down. Will DAFT understand during Erection date?

Anonymous said...

Keep costs & expenditures low then no need to raise taxes but can cut taxes lah...Economics 101 leh.

Anonymous said...

Why not use some of the Reserves?

Is there still a Reserves? Since President Ong Teng Cheong, not a single President dared to ask the question about the Reserves, despite them holding the 2nd Key. What is the use of holding the second key but has no balls to even ask how much is our Reserves and where are they hidden or stolen?

The whole country, from the President downwards, have been kept in the DARK by the DARK KNIGHT, after Count Dracula's death.

The Prince of Darkness needs a lot of blood - your blood - in order to quench his thirst for power. His wife, the Dowager of Jinx needs a lot of your blood too, in order to become the 383rd Most Influential Woman in the World.

The Natural Aristocracy needs a lot of your blood in order to live the High Live of the Aristocrats and for his minions to become millionaires so that he can squeeze them by their balls and demand total obedience and loyalty.

This is the DARK Age - the Darkest in the History of the Daftland.

Anonymous said...

My advice to Heng Swee Kiat is to increase taxes on the 2.3 million foreigners working here.

Anonymous said...

Agongkia, as Virgo said, u started to talk nonsense again. Your balls should really be sliced off so u can wake up.

Anonymous said...

In the ST today, a panel of experts cast doubts about how much there really is in the reserves. If no one knows, the reserves could be zero, negative, or as speculated, $1 trillion. When everything is hidden, how do you know how much is there?

OTC wanted to know but did he know?

Singaporeans might get shock of their lives if they know what is really left in the reserves. Now it is all based on a belief that there is a lot of money in the reserves, just like there are a lot of gold bars in Fort Knox.

agongkia said...

How much we have in our reserve is strictly confidential,for security reason.You dun go around revealing your properties or possession in your bank openly do you?

b said...

Many years ago, it was around 1t. Now should be at least 2t because many housing prix already 2x more. Funny that no one knows how much.

Anonymous said...

How many first world countries are not transparent in thejr reserves? How many have so many glcs that they are 50% of the industry? Tean was right. We rank first in wasting money, last in innovation in asia. You know asia? The countries we love to make so much fun of are all above us! And yet we still have unquestioning fools!

Ⓜatilah $ingapura⚠️ said...

Good luck in all that wishful thinking. ;)

The world is getting flatter---i.e. more "equalised" due to gobalisation and de-centralisation.

The Singapore Government is the most "free market" government in the world. Not my idea exclusively, but mentioned by people like Jim Rogers, Marc Farber and Doug Casey. It is "soft dictatorship" (good luck in your wishful thinking all you lovers of "demo-crazy") which adheres to market principles, embraces "disruptive technology"...and overall works great.

The reserves are "no-touchies". Being essentially "debt-free", Singapore is not, and probably never be in a position where it is beholden to foreign investors. Those reserves are the bedrock of Singapore's financial and economic strength, political stability, and secures The Republic in a fast-changing world of uncertainty.

Here's how strong we are: If we didn't take one cent of revenue and just drew-down on the reserves, there's enough money and assets there to last around 25 years...that is PAY FOR EVERYTHING for 25 years. How many other cuntries can boast that? Any contenders?

I am a great believer in TAXES. I pay very little because I've organised my life that way as a "permanent tourist" (PT) aka "sovereign individual" (SI) as I rarely use any govt services and go to great extents to shield myself from govt meddling. I don't "own" anything and I am not just "unemployed" but have made myself "unemployable". I don't vote and good luck finding me if you visit my "address"...because I'm not there.

However for the rest of the fucktards in "society", taxes are the way to go. If you wnat welfare, then people need to be taxed. If you want socialised healthcare and brainwashing for children (aka schools), then you have to be taxed.

And the "free market" Singapore govt in all their wisdom does exactly that. You pay for EVERYTHING YOU USE in Singapore---even though it is "subsidised". You use the roads---ERP. You want some money when you get older (annuity)---CPF (it's a TAX goddamit!!!)

So if you want your cuntry to remain awesome when the population swells to 7 million or more, then fuck you, you need to be TAXED!

In Singapore, there is no such thing as "entitlement mentality" or free this or free that. As a Singaporean you should know that...from small we are told to pay for everything...so what the fuck are you all screaming about?

Singapore is not a "shithole cuntry". If you want it to stay the fucking awesome place it is, then you'll have to pay for it...as DBS says:

Pay Lah!

Anonymous said...

"The reserves are "no-touchies". Being essentially "debt-free", Singapore is not, and probably never be in a position where it is beholden to foreign investors....Here's how strong we are: If we didn't take one cent of revenue and just drew-down on the reserves, there's enough money and assets there to last around 25 years...that is PAY FOR EVERYTHING for 25 years. How many other cuntries can boast that? Any contenders?"

This is what a daft believer would believe, everything his god said must be true. No need prove, god said trust me. One day he would wake up and found the safe is empty. Can last 25 years based on what the con men said? Suckers are born everyday.

And the reserves are debt free? Fucking daft, it is debt to the people, the people's life savings in the CPF. It is money owed to the people. You cannot cheat the people everyday.

Ⓜatilah $ingapura⚠️ said...

@ anon 924:

My figures come from the source. You are free to believe or not to believe me. Up to you lah.

You fail to accept the "realities" of being Singaporean. Firstly, CPF is not "your money" as the majority of people mistakenly believe. The CPF is a TAX levied on workers and employers....to make it simple, a tax levied on productivity---it doesn't really matter WHO pays it, because they can always change the ratios to blur the argument. Essentially, if there is money paid to the workers, then there is a tax. They create an illusion to make it look like employers pay Y%, workers pay X%. Y & X can change just to make the shit "look nice" depending on what other bullshit they want to sell you.

Singapore has no foreign debt. The sovereign debt is held by the state itself, and yes the CPF, or at least a part of it is used to "secure" that debt.

But since you don't actually own your CPF, what the fuck should you care? Go out and enjoy yourself lah. You have no idea how to run a cuntry thru a soft dictatorship. Go shopping and eating, like a good Singaporean, and leave the cuntry's finance affairs to people who know and can do better than you.

Once more, as a reminder: CPF is not your money. CPF is a tax. You accept or don't accept, up to you lah.

I leave you with a tip: things won't be changing anytime soon to "make you happy". 😂

agongkia said...

I agree with you totally.
Got mouth talk till no saliva,many still blur blur n think it's their money :-(

Virgo49 said...

Ahgongkia, better use your salvia for some other purposes like lubricants when you forget to have KY- our Great Leaders initials with you.

Not our MONIES, then why every month by the 5th Credit to our accounts.

Why give back? ?