Thursday, June 9, 2011

Defaulting CPF 2: PAP is throwing away our monies

Source: US Treasury Dept

Singapore holds a total of US$55.7 billion of US treasury securities, a whopping US$11,000 per capita. PAP does not publish the books of GIC and MAS. Nevertheless, it is still reasonable to hypothesize that PAP park a considerable amount of our wealth, perhaps a large portion of CPF, in US treasury securities.

Poor Singaporean, everyone knows US dollar is going to worth less than toilet paper. Since 1970, USD has lost more than 96% of her value against gold.

When that come to pass, PAP will never blame herself for her folly. Instead, PAP will find reasons to accuse Singaporean of being stupid, lazy and wastrel when Singaporean have no monies when they are old.

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