Our singapore gahmen probably told Myanmar to go elsewhere.
Singapore reasoning is sound, if the USA sanctions Myanmar (today only four individuals and two entities linked to Burma's military regime) , this means that the trade cannot be done in USD.
If our banks (article mentions UOB) facilitate it and in USD, then our banks could be on future US watchlist.
This is why Huawei princess kenna arrested, because she did the trade in USD to Iran. If she had done the deal with HSBC in RMB, then this would not have been a problem. (Other issues would arise but not this).
Kinda funny, corrupt regimes prefer USD and not RMB.
The day USA hegemony ends, is when BRICs stop trading their local currencies for USDs. To pay for their mistresses & anchor babies’ freehold properties, luxury cars & Ivy League tuition fees.
You don’t need physical gold. All you need are gold certificates which are like paper money. The USD was once backed by gold (you can google “the gold standard”). Meaning you could at one point exchange USD for gold at a set rate on demand and without limit at the US treasury.
Working in bank back-end. There's a strong reason why they favour others over 🇸🇬.
Singapore has reasonably strong economic securities (not the stocks), and Myanmar is listed on the FATF black-list. These two factors put together would make rational sense that Singapore is not supportive, and Myanmar would not choose Singapore.
>LKY was a big supporter of the junta.
Singapore's founding father Lee Kuan Yew described Myanmar's ruling generals as "dense" and "stupid" people who have "mismanaged" the country's vast resources, US cables from WikiLeaks said.
'Lee said dealing with the regime was like 'talking to dead people'
https://sg.news.yahoo.com/singapores-lee-calls-myanmar-junta-stupid-wikileaks-20101214-233152-471.html
wow this is an interesting article, esp the part when he said asean should not have admitted indochina countries.
>"dense" and "stupid" people
dense means stupid & the fact lky called them stupid twice is hilarious. they must be extremely stupid huh
>they must be extremely stupid huh
One of the old Junta leaders, General Ne Win, changed Burma's currency overnight into denominations of 45 and 90 Kyat because 9 was his lucky number. This wiped out millions of Burmese citizens' savings.
Another junta leader, General Saw Maung claimed to be the reincarnation of an 11th century King.
Our singapore gahmen probably told Myanmar to go elsewhere. Singapore reasoning is sound, if the USA sanctions Myanmar (today only four individuals and two entities linked to Burma's military regime) , this means that the trade cannot be done in USD. If our banks (article mentions UOB) facilitate it and in USD, then our banks could be on future US watchlist. This is why Huawei princess kenna arrested, because she did the trade in USD to Iran. If she had done the deal with HSBC in RMB, then this would not have been a problem. (Other issues would arise but not this). Kinda funny, corrupt regimes prefer USD and not RMB.
The bank provided the loan to facilitate this transaction, the sanction was on the equipment if i am not wrong
But HSBC is British bank?
The day USA hegemony ends, is when BRICs stop trading their local currencies for USDs. To pay for their mistresses & anchor babies’ freehold properties, luxury cars & Ivy League tuition fees.
Sir please let us know when will it end ?
When will it end? Is RMB a real alternative?
Gold is the only alternative. That’s why central bank around the world are increasingly hoarding more and more of the stuff.
Yes because we LOVE to lug around gold to barter for bread
You don’t need physical gold. All you need are gold certificates which are like paper money. The USD was once backed by gold (you can google “the gold standard”). Meaning you could at one point exchange USD for gold at a set rate on demand and without limit at the US treasury.
Working in bank back-end. There's a strong reason why they favour others over 🇸🇬. Singapore has reasonably strong economic securities (not the stocks), and Myanmar is listed on the FATF black-list. These two factors put together would make rational sense that Singapore is not supportive, and Myanmar would not choose Singapore.
Hearsay any local banks with operational projects involving myanmar had to be cancelled.
That type of country easier to get away with blood money
Good. This type of blood business we do not want.
Deutsche Bank, business for you!
Piyush Gupta: 🥲
Good to see that, but hope that doesn’t affect normal business transactions
We need to do something to get the lost revenue back. If money is going to be earned regardless, it should be on our court.
Let the Thai banks get their hands dirty on this, their reputation can take a bigger hit than us anyway
Wrong. This does not benefit our national interest at all.
This guy = Money over humanity
average singaporean mentality
HSBC has entered the chat.
Nah, fuck MAH and his murderous regime.
LKY was a big supporter of the junta. Wonder what’s happened.
>LKY was a big supporter of the junta. Singapore's founding father Lee Kuan Yew described Myanmar's ruling generals as "dense" and "stupid" people who have "mismanaged" the country's vast resources, US cables from WikiLeaks said. 'Lee said dealing with the regime was like 'talking to dead people' https://sg.news.yahoo.com/singapores-lee-calls-myanmar-junta-stupid-wikileaks-20101214-233152-471.html
wow this is an interesting article, esp the part when he said asean should not have admitted indochina countries. >"dense" and "stupid" people dense means stupid & the fact lky called them stupid twice is hilarious. they must be extremely stupid huh
>they must be extremely stupid huh One of the old Junta leaders, General Ne Win, changed Burma's currency overnight into denominations of 45 and 90 Kyat because 9 was his lucky number. This wiped out millions of Burmese citizens' savings. Another junta leader, General Saw Maung claimed to be the reincarnation of an 11th century King.
Bro does not mince words