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 I am preparing for Global Recession, Be cash rich

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MGM
post Sep 18 2011, 08:20 AM

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I remember that in the 1997 financial crisis, Singapore banks were offering RM-FD @ 20 - 30%. There were a large amount of Rm getting out of the country. It was one of the reason that caused Capital Control.

IMHO, fix-price Amanah Saham is a good vehicle to park your emergency funds. It is much better than SA/FD in that you can withdraw whatever amount for your daily requirement from banks and still gaining higher return.

When opportunity comes you can withdraw these funds to invest and u still earn the dividen at the endof Financial year (prorated).
MGM
post Sep 18 2011, 08:32 AM

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QUOTE(dreamer101 @ Sep 18 2011, 08:23 AM)
MGM,

You TRUST the government..  I wish you best of luck...

Dreamer
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If you dont trust PNB, do you trust EPF, TabungHaji, Govt Owned banks, GIC companies?
If you dont, then what about UT that invested in local blue chips which are owned by these bodies?

If these bodies fail then Malaysia would collapse and there is no place to run accept offshore, Singapore?


This post has been edited by MGM: Sep 18 2011, 08:53 AM
MGM
post Sep 18 2011, 10:03 AM

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QUOTE(dreamer101 @ Sep 18 2011, 09:09 AM)
MGM,

Bingo...

I only invest on one counter in KLSE and it is NOT a GLC.  Most of my investment are all over the world.

<<If these bodies fail then Malaysia would collapse and there is no place to run accept offshore>>

Now, you UNDERSTAND what will happen next in Malaysia.

What makes you THINK that Malaysia is not on the threshold of collapse??

Dreamer
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What makes you THINK that Malaysia is on the threshold of collapse??

What makes you THINK that offshore countires are not on the threshold of collapse? Look what happen at japan, usa, european countires and other countries that depends on these places. The whole world is not safe if one is too paranoid.

MGM
post Sep 19 2011, 06:46 PM

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QUOTE(sparekim1 @ Sep 19 2011, 06:41 PM)
Just a thought, Uncle Sam is printing so much money, and because the currency is such international it is everywhere. And when the world is flooded with the currency, what if none of the countries is spared from hyperinflation? 

When that happens, we can forget about economic performances, foreign investment, asset classes, bungalow, etc etc.

Social unrest will prevail until a certain force strong enough to gain control over the mass public. Social stability and economies may take months or even years to be restored (not recovered, but just to put orders back in place again). 

I suspect, during that period, barter system or commodity-based exchange system will be commonly acceptable until everybody settle with a common way of exchange. Perhaps, back to commodity-backed (gold/silver) currency. Basically start all over again and evolve, and naturally let the history repeat itself again in 50-100 yrs time?
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If this happens which country would be the "best" place to stay, Australia?
MGM
post Sep 25 2011, 12:25 PM

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QUOTE(bayanbaru @ Sep 24 2011, 08:50 PM)
is it true now not the right time to buy car?
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Wait after the budget 2012, lately there have been news about NAP. During down turn there are also more promotions and discount.
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