[Online Special] Why are our reserves a secret weapon? - Pt 5/5 | Singapore Reserves Revealed

[@NinJa-qr1sp]

This is actually a very good documentary series. I hope audience can see past the politics and appreciate the vulnerability that led to the formulation of the policies.

[@Hs5687]

Am impressed CNA , hopefully CNA will follow thru to provide a Balanced Objective view by doing a similar Episode on Lee Kuan Yew’s Mistakes , Blunders , Bad Habits, Criminal Wrongdoing etc ? ie. Looted & Plundered ARAB Land Holdings, Marginalised & Oppressed SG Muslims , Banished Not only Political Adversaries but also Influential Ppl , Trying to Play God , & last but not least LKY’s Notoriously Obsession of Controlling not only Local but even Foreign Media in SG etc . Such an Episode Can certainly Add to CNA’s Credibility …🤓

[@suryatobing]

this 5 video of the series are actually one of the best documenter series

[@Nathangoh12345]

Please give the person that animated the video a good pat on the shoulder

[@arcencielc2065]

The last few sentences by DPM Wong are very moving. Thank you for protecting our country and people.

[@normantan23]

This would have gone far to let more people understand how important is our reserves and how much it has help our nation balance out budget without increasing income taxation, like so many nations did.

[@Khabib9-z8w]

I admire the way they save our reserves for rainy day and use it wisely when needed during uncertainties and spending on beneficials projects like mrt,t5,hospitals all these are essentially important,like lawrence mention its not that we “oversave”we save wisely which is good,lky mention in ndr 1990 or other rallies that sporean born here are without debt and even have incentives when he was comparing to Australia or something,really impressive work done by our government

[@EthelYap]

CNA this has been a very very good series. Incredibly eye-opening and very interesting. Thank you for producing this. Incredibly well done.

[@AlexLi-zige]

one of the best documentary, well done CNA!

[@Fals3Agent]

No way CNA pulled a east coast plan joke with lawrence 😂

[@ambition112]

1:14: 💰 Singapore has over S$1 trillion in reserves, which are used for important purposes such as curbing inflation. 5:34: 💼 Xin Yi works as a trader for MAS, the central bank of Singapore, to manage the exchange rate of the Singapore dollar. 9:03: 🏞 Singapore has reclaimed land to expand its size and support various developments, funded by past reserves. 15:28: 💰 Singapore's net investment returns contribution (NIRC) plays a crucial role in funding public spending and maintaining government reserves. Recap by Tammy AI

[@kongthai..]

Not all the RESERVES as explained by CNA belongs to the government as SURPLUS. Why is the INCOME of RESERVES is used in the budget. Isn't the profit from the reserve part of the reserves? Was the President not needed on this drawdown. I probably think there are certain rules. So how does the KEY work. 🥹

[@sepilokfui]

actually it probably closes to S2.2trilllion with all the 4 categories of assets?

[@kongthai..]

@sepilokfui I have no idea why LKY to LHL has these obsession with KEYS. I guess most of our compatriots understand the situation. WE wait for CNA next instalment to explain what constitute RESERVES and how income for reserves can be used in the budget. 🥹

[@mistaroundus]

@@kongthai.. you can try to read up on the Venezuela economic crisis for a case study. Basically, the entire economy fell, there was hyperinflation and basically people's lives were severely impacted. There are multiple sources of it if you Google. So 1 of the attributes is because only the President has the KEY to their economic reserve. Which means 1 guy can just draw on the entire country's wealth with no limits. LKY to LHL understands very well that having 2 different KEYs would make it harder for any 1 person to withdraw without limits the reserves of the country. Its like if your company's money is managed by just 1 person alone, that person can just take all of the money and run away. That becomes a problem because it affects your employment and the company goes bankrupt. Suddenly you cannot buy anything anymore. en.wikipedia.org/wiki/Crisis_in_Venezuela#:~:text=Supporters%20of%20Chávez%20and%20Maduro,economic%20mismanagement%2C%20and%20corruption."

[@kongthai..]

@mistaroundus you know little about global financial order. Venezuela fell because 1. It depends on heavy crude that only Texas can refine. 2. The Left Wing government spends like there is no tommorow. 3. It has badly relationships with USA and London. So loans to defend their currency not easily available. 4. Venezuela had the petroleum crutch, doesn't develop other industry. 5. Common with Spanish societies, little industrial base and highly urbanised. . You cannot compare Chinese society with Hispanics. 🥹

[@simonlim943]

“The Original East Coast Plan” the emphasis 😂

[@馬良-b8q]

very few.......can see issues and events in a bird's eye view.

[@arwanasuperred1321]

We have to help the gov. Each person buy 1 ounce of physical silver minimum. Total 5.6 million ounce. We will crumble the USD.

[@srypWned]

impressive management ! Wish my own country would do as well, chapeau

[@GMD3N]

omg a deez nuts joke in a CNA doc. lol

[@CapNSo]

RM4 to $1 is a dream 😭

[@sleepandrelaxation3395]

I love that they totally skip over the supply of currency as a factor of inflation. Will there still be inflation if all central banks stop issuing money without an asset backing?

[@take2762]

The monetarist theory mentioned here assumes long term trends are due to money supply and that short term effects like COVID inflation is more due to Keynesian factors like government spending, wages rising etc. So given the focus was on short term inflation, it follows that money supply was not considered. Of course mas does issue money, but given the small scale of the economy and circulation of currency, I doubt monetary supply is as vital as exchange rates in managing short to medium term inflation. Of course letting it go haywire will lead to long term hyperinflation but given the focus was in short term inflation and the reserves, it seems to make sense that the supply of currency was ignored.

[@MeiinUK]

MAS is also already involved in alternative earnings already.... the green type. Basically.

[@Logic807]

You are wrong. Imagine if currency is backed by gold, does the world go digging up the earth for gold. Can you eat gold? Currency is backed by demand for that currency which is ultimately backed by goods and services produced by the countr

[@elilo5867]

DEEZ NUTZ....from malaysia

[@ttkoh123]

Investing can be risky, we all know that. Singaporeans don't want to wake up one day and realized that the Gamble Failed especially the companies are Privatized and the Govt has No direct involvement in them. What are the short terms performance? If it is not 100 million, then how much is it?

[@jrkr7357]

Singapore's reserves are not for the current Singaporeans generation to enjoy, its for future Singaporeans.

[@januslee2556]

Somebody prolly said the same thing to singaporeans in the past. "It's for future singaporeans (aka the current singaporeans)".

[@bloop3460]

In the other vid say dy. 50% now. 50% for future is fair.

[@thomaslai9058]

If you have understood the video, the current generation is actually enjoying the benefits of the Reserves... Providing the guaranteed interest in CPF, providing operating budget (hence less tax), budget for land reclamation, to name a few examples. Of course, we also benefitted directly during COVID when the funds were used for their 'rainy day' purpose.

[@Jkl62200]

There are going to be less and less 'future Singaporeans' with current fertility rate, while reserves keep growing. Young families will boycott making too many kids cause they can't afford them and overall cost of living. So, keeping so much reserves is a self defeating action in that context. Some of that money could and should be used to build confidence so people make kids!

[@Jkl62200]

@@thomaslai9058 when can you access your CPF? Can you if you get retrenched? Sick? CPF calculations seem to indicate that you'd live till 90+... Will you? CPF actually is counted towards 'reserves'.

[@angeleslopezarias9357]

ASEAN countries must work together for a multipolar world. That is why it has to join the BRICS and the Shanghai Cooperation Organization.

[@KelvinTan808]

Actually no one know how much there is

[@ashoktim2742]

Amazing series .. kudos to cna n singapore statesmen going on record for junior singaporens to understand & to better it. Only point to cna .. the overlapping of same info repeated in diff posting kind of a downside.

[@mistaroundus]

I think that they are trying to explain the info from different perspective and show how from different perspectives, they arrive at the same or similar conclusion about the reserves. It is an upside actually, because it helps to build the case of why the reserves are so important.

[@godsamazinggrace5331]

Hmmmmm Suddenly So much about sg reserves is being revealed?? Why now??

[@annechow4407]

Opposition pressure

[@logicrule]

Presidential Election, basically the president is the gatekeeper of the reserves

[@seanlee5841]

3:32 deez nuts from Malaysia 😂

[@Jkl62200]

Wasn't the 'East coast plan'.. In Tuas on the western side? 😂

[@godsamazinggrace5331]

How should sg reserves be used?? Will the large majority of ordinary commoners get a share??

[@kongthai..]

Putongren access it by having a job and salary. CNA already explained it. 🥹

[@Odinic]

Horhor someone never pay attention

[@kongthai..]

@@Odinic 🤣

[@YubiYubi_]

You think your gst voucher or polyclinic subsides grow from tree?

[@unclefrankindia]

imagine her pay

[@deschan2246]

Singapore Reserves was built during 1st generation leaders, it was largely Dr Goh Keng Swee credit. Before 1990, LKY has Publicly annouced repeatedly Singapore Reserves was US$200 billion. During Goh Chok Tong time *1990 to 2004) as PM, reserves remain very much intact or marginally adjusted. After Lhl took office, nobody (other than lhl) knows what is Singapore Reserves. To be fair to next Singapore PM, Lhl need to publish Singapore Reserves before handing over to next PM.

[@Jkl62200]

That's only what MAS controls.. Temasek and GIC's holdings should also be counted. Especially Temasek's which can more easily be liquidated if needed. And MAS often transfers reserves to those 2.

[@godsamazinggrace5331]

Two Gohs were involved Thanks for the information

[@kongthai..]

Appears to remain true. 🥹

[@mistaroundus]

Circumstances might have changed thou. Asking for a similar treatment in how we deal with the information about the reserves in the 3rd generation is like your friends asking you how much money you have in your bank account that was built by your family. Except that these friends are now much poorer than you and could be eyeing the money you have built up. The question is would you let them know how much you have and what assets are owned by you, or even make it a public information? Before 1990, there were multiple economies that were doing better than Singapore and there was no dire need for these economies to eye another country's wealth. Now in 2023, thing have changed, especially with all of the economic crisis upon other economies. We will only become a sore thumb or target if we reveal the amount of reserves. They are already compromising by making a series which talks about what constitutes the reserves. Perhaps when other economies are doing well again, it could make sense for us to demand for the amount of reserves in the nation.

[@kongthai..]

@@mistaroundus goodness gracious. 🫣

[@afandingaiman]

This a fluff piece.... whenever there is question about the professionalism of the SG government and PAP administration...they put out this generic Ohh we are so good at this and that...We are no 1 in this and that.... Comparing SG GIC and Temasek with the Norwegian Pension which is far more transparently managed and arguably more equitably distributed the wealth to the whole of the population would be a far more unbiased approach.

[@aero.l]

If you can find us an oilfield that the Norwegians have to contribute to their pension fund, I'm sure we can do that too.

[@afandingaiman]

@@aero.l the value of assets of the Norwegian Pension Fund and GIC & Temasek is comparable...My point is the transparency and governance structures of these institutions...Both are public funds that should be open to public scrutiny...

[@aero.l]

@@afandingaiman Sure, the Opposition can do that when it's in power. We don't take lessons in governance from other countries. We govern according to what's in our own national interests.

[@afandingaiman]

@@aero.l Sure then if you're not willing to compare to better managed countries, stop comparing SG with lesser countries and gloat on how much better SG is...

[@calvingan98]

Then migrate to Norway we don't need you here if you don't appreciate the hard work and sacrifices our govt make to give us such good living standards.

[@BahtiarAffendyPadillah-cr8zy]

💯🇸🇬👍🏼👍👍🏻👍🏾

[@FreSch_Dude]

Am i the only guy who cracked up at them saying "deez nutz from malaysia"? Man im so immature

[@deschan2246]

Does it still exist is the big question, only LHL knows.

[@aero.l]

Singapore has zero net debt and has a triple A credit rating from global credit rating agencies. Unless you're retarded, you'll know we have sizable Reserves.

[@angelosupsup3726]

Reserve use for import and export, it's time for Singapore to use it, when is not use wisely it is easy empty. High tide and low tide. Compare Singapore reserve to Philippines still a little. Currently Philippines has 100 billion dollars, plus Marcos hidden wealth as foreign reserve in Singapore, Switzerland, Belgium there more in other countries. To much propaganda, but Singapore economy growth is almost in critical condition to recession and the country is drowning to debts, Maybe this is the strategy of Singapore to survive it's economy... As I said use it wisely or else they go empty faster like a rivers. Corruption in Singapore are rising as inflation is rising together with debt balloons.

[@amychaseaussie]

Reserved for PAP 😂