Jun 11 2015, 05:28 PM
QUOTE(Gen-X @ Jun 11 2015, 02:39 PM)
Ramjade, in the previous thread, you mentioned Banana Money, well, I don't think our Ringgit will worthless anytime soon unless there is a WWIII.
Having said the above, during Global Peace time in 1997/98, USD/MYR was about 3.5 in mid 1997 and by early 1998, it weakened to USA/MYR 4.71. And in 1998, we could get FD interest rates above 14%. It was during this time we had TDM versus DSAI.
Fast forward to current time, we now have TDM versus DSNR - click here to see Pokemon fight - damn funny). In addition 1MDB, we are told today we have Pembinaan PFI
And IMHO, our currency is depreciating like no tomorrow is because of people (many here including GLCs) who have and will continue to "convert" their Ringgit to foreign currencies- by means of DCI, converting cash (go see money changer queue at MidValley) and buying properties in London (including Felda and EPF), Canada and Australia (for the past 2 years on any week, on average I get 1 or 2 SMS from agents selling properties overseas, last few months 3 SMS a week! - which means there is a big market for it here).
So, if history repeat itself, soon all of us here would be very happy because we can get 14% interest rates for our FD, hahaha.
And if you have yet to go get a Rolex, better go get one now, hahaha. Click here to read my article on Rolex. Bought my Rolex Stainless Steel GMT for about RM10K 20 years ago, similar model today RM30K (3X), so assume that it increases at the same rate, in 20 years, a Stainless Steel Rolex GMT would cost close to RM100K! I guess it this happens, I would agree our Ringgit as good as Banana Money!
hahahaHaving said the above, during Global Peace time in 1997/98, USD/MYR was about 3.5 in mid 1997 and by early 1998, it weakened to USA/MYR 4.71. And in 1998, we could get FD interest rates above 14%. It was during this time we had TDM versus DSAI.
Fast forward to current time, we now have TDM versus DSNR - click here to see Pokemon fight - damn funny). In addition 1MDB, we are told today we have Pembinaan PFI
And IMHO, our currency is depreciating like no tomorrow is because of people (many here including GLCs) who have and will continue to "convert" their Ringgit to foreign currencies- by means of DCI, converting cash (go see money changer queue at MidValley) and buying properties in London (including Felda and EPF), Canada and Australia (for the past 2 years on any week, on average I get 1 or 2 SMS from agents selling properties overseas, last few months 3 SMS a week! - which means there is a big market for it here).So, if history repeat itself, soon all of us here would be very happy because we can get 14% interest rates for our FD, hahaha.
And if you have yet to go get a Rolex, better go get one now, hahaha. Click here to read my article on Rolex. Bought my Rolex Stainless Steel GMT for about RM10K 20 years ago, similar model today RM30K (3X), so assume that it increases at the same rate, in 20 years, a Stainless Steel Rolex GMT would cost close to RM100K! I guess it this happens, I would agree our Ringgit as good as Banana Money!
14%
hahaha
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