tag:blogger.com,1999:blog-6917465355806677421.post5604447197561655784..comments2024-02-28T00:53:16.343-08:00Comments on Veritas: Defaulting CPF 3: Singapore government public debtVeritashttp://www.blogger.com/profile/00269626703466474028noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6917465355806677421.post-22758109951077510542011-07-09T06:05:10.400-07:002011-07-09T06:05:10.400-07:00When you deposited into CPF account, implicitly go...When you deposited into CPF account, implicitly government is going to own your some money.<br /><br />You become the creditor and PAP become the debtor. Not many people are aware of that.<br /><br />And to prevent folks from saying GIC or temasek raiding CPF, PAP create financial engineering as below.<br /><br />In layman term<br /><br />1) Garment borrows from CPF through some financial engineering instrument. (Probably garment sell some bonds to CPF)<br /><br />2) Garment give the money to GIC and Temasek, either directly or repackage it using accounting gimmicks.<br /><br />PIIGS are those countries like greece iceland...etc that got bankrupt recentlyVeritashttps://www.blogger.com/profile/00269626703466474028noreply@blogger.comtag:blogger.com,1999:blog-6917465355806677421.post-16000910545891510552011-07-09T05:59:43.521-07:002011-07-09T05:59:43.521-07:00what is singapore government securities? and how i...what is singapore government securities? and how is it tied up with CPF? Who are the PIIGS?<br /><br />I can't understand this game you're trying to explain to us.TokyoSingaporeannoreply@blogger.com