end of october .....100,214,000,000 USD......
That is a lot of "approximated" market value....can't help but wonder how does one feel after spending 9 Billion + dollars......
One thing for sure our negara boys been pumping the system.... perhaps more so in Dollars after the evaporation in USD funding market....
U see when u put the money into your own system .....u cant count them as per IMF Definitions
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"Reserves consist of official public sector foreign assets that are readily available to and controlled by the monetary authorities. Reserve asset portfolios usually have special characteristics that distinguish them from other foreign currency assets. First and foremost, official reserve assets normally consist of liquid or easily marketable foreign currency assets that are under the effective control of, and readily available to, the reserve management entity. Furthermore, to be liquid and freely useable for settlements of international transactions, they need to be held in the form of convertible foreign currency claims of the authorities on nonresidents"
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How much money actually left our system...official and unofficially???
How much money was spent on Ringgit interventions?
Currency Interventions Operations...................so they battle begins....strategic points of entry in spot and forwards market.........we've spent a lot of money in 97.....but not as much as what we spent throughout October 2008......
And guess what ........their boss......aka our Finance Minister......just announced a Sell Signal on Malaysian Banks..either that or he doesn't know what he is talking about....
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"Mr Najib said Malaysia had learned its lessons well from the 1997-98 East Asian financial turmoil, when the country plunged into political and economic chaos.
'Our banks, for example, are very liquid, our NPL (non performing loans ratio) is below 2.5 per cent, our capital adequacy ratio is below the international norm,' he said.
But as Malaysia steps up spending to prop up the economy amid sagging revenues, the government deficit is widening and expected to hit 4.8 per cent of gross domestic product next year.
Mr Najib appeared unperturbed."
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Mohon Izin ya......Dato' Sri Najib Tun Razak.....
Forget about becoming Finance minister la ....i don't think that you can handle it.....get someone proper to do the job........and another thing u better fire that Mamak from Penang.....Just focus on doing your job as a PM.....that itself is a lot of work......as a nation.....we're in deep shit here....
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Folks let me know what u think.......no need for mumbo-jumbo pseudo intellectual bullshit crap...a simple hello would be great....n thank u for droppin by........one more thing...ANON's please put a nick ya, susah want to address u ....n it also show that u r responsible for what u wanna say....