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ringgit Malaysia drop , how to I change my RM to USD

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dreamer101	Aug 30 2015, 10:09 PM Return to original view \| Post #41
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(Ramjade @ Aug 30 2015, 09:03 PM) Dreamer, what good is holding usd in cash? It won't generate anymore usd. Isn't it better for someone to buy us shares or something or have something which can generate returns in usd? Maybe you could make a tutorial on say opening a US FD with a US bank from malaysia instead of US FD offered by malaysian banks (that way your money is not stuck in malaysia). That will be more helpful to the average malaysian who does not want to try out shares. If you can do that, I am sure lots of people will be interested. Ramjade, << Isn't it better for someone to buy us shares or something or have something which can generate returns in usd?>> https://forum.lowyat.net/index.php?showtopic=2843370 1) I did. <<what good is holding usd in cash?>> 2) It diversify your saving. Protect you from RM depreciation. <<That will be more helpful to the average malaysian>> 3) How to help people that do not understand a basic concept like "Do not put all your eggs into ONE basket??" How CLEAR and SIMPLE that I need to say this?? For NORMAL Malaysian, 20+% of their gross income is in EPF that invest in GLC and Malaysia Government Bond. If they put their savings into ASx, they are putting all their eggs into ONE basket since ASx invest in the SAME THING. It makes sense for BUMI to invest in ASB due to political reason. But, for a non-bumi to invest in ASx?? Dreamer
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dreamer101	Aug 31 2015, 09:06 PM Return to original view \| Post #42
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(Showtime747 @ Aug 31 2015, 11:52 AM) If you expect malaysia to bankrupt, why would investment in ASB makes sense ? The government has no money to pay back also Showtime747, ASx will be gone long before ASB. ASB will be the last to go. In fact, THE GOVERNMENT may still pay ASB dividend even it is bankrupted due to political reason. Dreamer
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dreamer101	Sep 4 2015, 08:59 PM Return to original view \| Post #43
10k Club Elite 15,855 posts Joined: Jan 2003	Folks, Come on.. This is a good temporary stop for people to get money out before the next drop... Think rationally. 1) Is THE GOVERNMENT going to spend a lot less or spend a lot more?? Even at usual pace, it will overspend 40 to 50 billions more per year. Due to political reason, THE GOVERNMENT will spend even more than usual. 2) Will Petronas give THE GOVERNMENT more money?? Petronas itself has cash flow problem. Oil price has to go up and stay up for a long time before Petronas can fix its cash flow problem. 3) Banks had started their lay off. This should tell you where they think how the economy will go. The worse is yet to come... Dreamer
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dreamer101	Sep 4 2015, 09:57 PM Return to original view \| Post #44
10k Club Elite 15,855 posts Joined: Jan 2003	http://news.yahoo.com/canada-officially-re...-131114485.html Folks, By the way, in case that you did not catch the news, Canada aka another country dependent on commodity export is officially in recession now. Dreamer
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dreamer101	Sep 5 2015, 08:57 AM Return to original view \| Post #45
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(Showtime747 @ Sep 5 2015, 08:36 AM) » Click to show Spoiler - click again to hide... « With the international civil movement's recent meeting in Malaysia, we got the maximum worldwide exposure on our plight in politics. Our economic fundamental is no more the sole determinant of our fair currency value. Market will keep on dumping the RM despite good news on our indicators As any quick resignation and political remedy not in sight, 4.50 will be fast approaching, and breaking of records of above 4.7x is just a matter of time Inflation will be out of control in the next 3-6 months. BNM might have no choice but to increase OPR as RM issue > risk of economic downturn issue. Politically they have take the risk to be seen as "we tried our best" Stock market will crash on grey economic outlook. Economy turns south and into recession. Wide spread retrenchment may happen » Click to show Spoiler - click again to hide... « and unemployment rate increases. As people find financial difficulties, it will be followed by property market crash and further aggreviate the economy. The bad economic outlook of the world at large is already a tough environment for any country to handle for the next 2-3 years, and Malaysia has such additional political issue to worry about. No politician will be interested to put their slight focus on saving the economy if he is in such shaky position. Just imagine if you are in the same position, you will be more concern not to land yourself in jail or thinking about which country to flee to when situation gets out of hand than worry about the rakyat's bank account The outlook is the gloomiest since 1998. Feels like we are on the tallest roller coaster in the world, moving and reaching the peak and the plunge to the bottom will start anytime. Everybody, hold on tight ! https://forum.lowyat.net/topic/3374996/+1020 Showtime747, Read above thread. You are behind in news. It had happened for some banks. Dreamer
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dreamer101	Sep 5 2015, 09:01 AM Return to original view \| Post #46
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(Hansel @ Sep 5 2015, 08:28 AM) This was what I feared : numbers good but do not translate into desired results. QUOTE(Hansel @ Sep 5 2015, 08:33 AM) If we are talking abt locking-in profits from the USD-MYR exchange rate, then we should wait further. If this news does not create the desired effect that the MYR will 'turnaround', then the MYR is destined to fall further, due to whatever other 'overriding reasons' such as price of crude oil, world economy prospects, current commodity rout, etc,... The MYR is just not able to 'turnaround' anymore,... Hansel, So, is putting a lot of your eggs into ASx such a good deal?? How much of your asset / investment is tied to Malaysia?? Are you diversified enough?? You have ENOUGH. Protect your money / investment from any single country's failure should be your highest priority. Dreamer
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dreamer101	Sep 5 2015, 10:12 AM Return to original view \| Post #47
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(Showtime747 @ Sep 5 2015, 10:03 AM) I don't think it is "wide spread" enough now to cause panic. But I think it will in the near future. Looks like what you predicted will come true soon. Your haters will be and Showtime747, What do you consider as "wide spread"?? Every single bank lay off 10% to 20% of its employees?? Every GLC lay off 10%?? ""cause panic"" Come on... "Don't worry, be happy!!" and "Not too bad" people will never panic even if they lose jobs and have no money. They believe THE GOVERNMENT will take care of them. Dreamer
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dreamer101	Sep 6 2015, 08:45 AM Return to original view \| Post #48
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(Hansel @ Sep 6 2015, 08:38 AM) » Click to show Spoiler - click again to hide... « If the % of SMEs falling is huge enough at the country level, then everybody is impacted in his/her livelihood in this country. Furthermore, if this weakening of the RM does not stop, the negative effects will croach into the 'stronger' SMEs too. ' Whatever you posted the spiralling effect down is as same as what many had been posted during 1986, 1998, 2002, 2008 or even the 2011 Euro debt crisis. ' Reply similar to immediate previous reply to yourself - This is not the first time we are going through this. Hansel, Yes and no. 1) Yes This is not the first time that Malaysia went through this. 2) No. This is the first time that Malaysia went through this without Extra Oil Money to bail Malaysia out. In summary, Malaysia may not recover from this at all. Dreamer
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dreamer101	Sep 9 2015, 01:00 AM Return to original view \| Post #49
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(burnthome @ Sep 9 2015, 12:53 AM) » Click to show Spoiler - click again to hide... « What you choose does matter?? Accorded to the standard practice, OPR will be increase to stabilizing the currency. It is because when OPR increase and Federal Reserve will be able to increase / gain faster. Government have no other choice as other resource such as oil cannot filling the target. Be prepare for BR increase... Be aware, as government may increase personal income tax due to no other income... they cannot increase GST again less then 1 year... burnthome, I disagree. THE GOVERNMENT will increase GST but not the personal income tax. It is VERY SIMPLE. 1) Economy is going down. People's income are lower. So, increase personal income tax will not increase income to THE GOVERNMENT. 2) It is HARDER to collect more money from people with high income. <<they cannot increase GST again less then 1 year...>> No, that will be not an important consideration. In fact, THE GOVERNMENT will increase GST as soon as possible in order to avoid increasing GST right before general election. THE GOVERNMENT will freeze GST 6 months to 1 year before general election. If you do the calculation, there will be a GST increase in 2016 if not sooner. Dreamer
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dreamer101	Sep 9 2015, 01:26 AM Return to original view \| Post #50
10k Club Elite 15,855 posts Joined: Jan 2003	QUOTE(burnthome @ Sep 9 2015, 01:13 AM) Dreamer, You should understand as lowest taxpayer is RM 2500 and this so called low middle class is needed to compensate. As overall, an average city earners will be between RM 3000 to RM 5000 and if Government increasing the tax, IRD will getting its money on top of GST. Further, Government still can adjust its taxation structure and charging higher with multiple level if you have surpass certain level. Taxation structure can be good to the lowest taxpayer but it will be bad to the middle and high earners. I can't see any GST increase at the moment where complaint and problem is still happened. System for retailer is just only implement and I cannot see any change as the cost will be incur and investor will complain. This is not reasonable move to increase the GST, last implement GST is already mark to 6% and it is high charge of this tax. Have a good day. burnthome, 1) You are assuming income level stay THE SAME. They don't. They are going down. So, increase income tax rate will not bring more money to THE GOVERNMENT. 2) Complaint and problem does not affect THE GOVERNMENT. It will not lose power. It needs MONEY to spend in order to stay in power. And, it need to increase the GST and freeze the GST before the general election. This is POLITIC. Dreamer
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