To peg or not to peg? That is the question. Surely this would affect the entire export import structure. The oil & gas industry would not be spared. Many contracts especially with American vendors require the use of the US dollar as the currency of choice. With billions and billions of Ringgit in question, how will the US protect its businesses? If Petronas were to enforce the Euro as the currency of trade, the US would face another economic upset. There would be less US dollar exchanging hands in the market, thus plummeting the value down further. Many countries in debt with the US would find it easier to service their loans and might be give them a breather to rejuvenate their economy. During this time of turmoil, it is also open season for take overs and buy outs. The Oracle of Omaha had just injected a cool US5B into Goldman Sachs. China and India are eyeing their prospects. Temasek bought an interest in Meryll Lynch. Should the US dollar value depreciate further, it would mean cheaper price tags on these banks and investment houses especially for cash-rich China.
UK Parliament in now discussing about passing a law that would prohibit anonymous blogging. The intent of blogging should also be clarified. I personally think freedom of speech is over-rated. We talk about the need for transparency and openness but we get offended when Denmark makes a mockery of Islam. We get offended with those who set up hate sites about Islamic extremists. If there is such a thing as freedom of speech, should we then let the homosexual communities voice their opinions in mainstream media? How about atheists, crackers and communists? Should they be allowed to voice their opinions? How about people who throw stones at you and hide their hands? Freedom of speech comes with responsibility and moral obligation and we all know how much maturity is shown especially in the comment sections of popular blogs and websites (perhaps the author should also introduce himself to the cyber world).
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it's all very well calculated, these bailouts or more accurately, buy ins. i mean, if you could buy into a monster like GS for a fraction, why not? ol warren's got the dough to ride this wave, and all kinds of other waves.
mobs like Temasek and all, there's more information offered to them than to the public domain. again, if discounted heavily, why not buy? our pollies should think like that and not rely on Petronas to fund the gomen.
whatever the decision is in terms of our RM, i hope the gomen would make an effort to share info about it la. or maybe mainstream media economic journos could earn their wage for a difference.
having said that, smart move palming the finance portfolio off, eh cheif? playing us like fiddles...
finally, on this whole freedom of speech and anonymous blogging/comments. it's all bollocks la. for example, we all know Pete. he was always open about his identity. he tendered document after document with names and signatures of the pollies in all kinds of scams, but no action was taken. then suddenly he's accused of islam bashing. really?!
so like that la. politics mate, all about politics and wayang kulit. i don't need to tell you this. waste time la talking about freedom of speech, etc. suma wayang la.
in conclusion, i'm an idiot and these are my thoughts.
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