Forbes Magazine Economic Analyst predicts Iceland-style meltdown for Singapore due to credit bubble spilling over from China.
MAS, like the rest of the government it serves, displays its complete ignorance with its head up its arse, or doesn't want the citizens of this country to realize the whole pile of promises and wealth was nothing more than a giant illusion. Then again the naive population are about to awake to a big nasty surprise.
Jesse Colombo's response and point-by-point rebuttal:
Let the reader be the judge who's the one who is in complete denial.
My problem is the fact that if banks have a shaky foundation, the question remains whether they will pull off a Cyprus style robbery by taking out the money of bank accounts rather than mere austerity bank bailout measures.
Our currency exchange rate and value of our money will take a beating. Its all an illusion, including the value of gold that we have chosen to attach to due to our strange liking for bright shiny objects.
The positive result of this collapse will be the deportation of the cheap foreign labor and the removal of the blight of out of control foreign immigrants that have overcrowded this country. On a society level the arrogance and obsession with money and accumulation of wealth will be removed and people will realize spending 18 hours a day and running roughshod over others serving the religion of money will not go anywhere.
Don't take chances and start stocking up on non-perishables like instant noodles and canned food that don't need a fridge. Make sure you don't find yourself being the last to the store if panic buying sets in.
If you know guys who are serving National Service, ask them to keep and bring back unused combat rations. For those who have been through National Service, stock up on the kind of food that you take out to the outfield training. Also save a few hundred dollars in a safe place at home. There's no telling what banks will do with our accounts.
Also invest in a few silver coins while the rates are low. Paper fiat money is designed to devalue to zero, its designed to fail while we are led to believe by society that a measure of someone's value is by how much he earns.
There's more that can be done, you can check out Infowars.com to find out ways to prepare oneself for a coming economic collapse.