Sunday, December 21, 2008

Another Bangang Idea......from a "Finance" Minister

Somehow it seems like they are all going to break their own individual records on this one...

Deputy Finance Minister Datuk Ahmad Husni has called for the use of multiple currencies in Bursa Malaysia to draw more foreign companies

Woi....Lu Bingai Ke.....mane pakcik dapat ini idea...sambil berak ke?'s shitty you idiot


1.Exchange trading of securities requires a clearing function or a central counter-party who will step in to reduce risk of transaction among various trading members.

2. Central Counterparties are exposed to the potential risk of default in the delivery of the security in a sales transaction or the payment of cash in the purchase transaction

Your bright idea will bring in more risk to the central counterparty who now needs to clear transaction in multiple currencies....who will bear the risk i ask will investors agree on what rates to use to settle the transaction at T + whatever la (Assuming final position will only be known at the end of trading day), they then need to contact their bankers respectively to book for the rates to settle the FX transaction of the Securities Purchase or Sales transaction

Will there be an arbitrage (Can i buy in USD and sell in Ringgit and Make a profit from the movement in currencies instead of the share price movement) between the domestic prices and "other currencies" prices in any particular moment during the trading hours on a single exchange which you claim the whole world will converge because of your idea?....Great idea you have sir.....its so great that Mr Alfred Nobel will wake up from his grave to hand you the award himself......

Do you even remember our problem during 1997-98 when domestic securities was priced and traded in two different location and currencies? Remember CLOB..... you SOB!!

What if our domestic investors now lose complete confidence in our Ringgit and only want to trade in will that affect our Reserves position and Balance of Payments?

What happened to all the Tingkat Advisors? Tak kan la basic shit like this also cannot advise your ministers.......SC and BNM please shut this idiot all must have a single voice especially in Market Development Activities

Malas siut ..peace people got to get back to work now.....


  1. Bro satD

    Another ill-conceived and poorly thought-out remark by the junior economic managers. It never fails to amaze me how lazy the politicians are about doing their homework. With all the taxpayers' money at their disposal you would have thought that they will hire better advisors with proper qualifications. Instead, to borrow sakmongkol's colourful phrase, they still cling to their "hikayat advisors". *sigh*

  2. Lets set up an annual award for application needed they just need to be themselves...

  3. Hi satD.

    Here I am, finally. How could I see you as you were hanging from one tree to another .......jumping up and down .......with the rest ....and you all look alike ....ha ha...jangan marah ya ...

    Thanks for the insight. I learn new things everyday.



  4. je vous remercie de venir plus de Zaza

    N'hésitez pas à revenir

  5. I know nuts about this thing. However, it appears that you know what's happening, and with people like de minimis agreeing; I'm going along with what you're saying here - that these idiots don't really know what they're doing. Ah, that's the great thing about blogs - the kampung people like me can know a bit about financial matters.

  6. i say, quelle bonne surprise!

    satD peut parler aussi, rupa2nya. :D

  7. Yup mat...power of information will help all of us especially folks not in the know...if not we all kena kencing all the time with these politicians....

    Mekyam...sikit2 only...tks for dropping by....

  8. do you think the SC and BNM has the balls to do it?

    the Ministers are gods. but unfortunately, they are idiots.


Folks let me know what u need for mumbo-jumbo pseudo intellectual bullshit crap...a simple hello would be great....n thank u for droppin 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....

Minds are like parachutes; they work best when open. -Lord Thomas Dewer