Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Feb 20)
Posted: Sat Aug 13, 2011 9:11 am
Singapore is actually bankrupted by the GIC and Temasek
Below is the reason why we are number 9 behind the bankrupted Greece and Iceland.
Let’s recall back in 1993 when our ex-president Ong Teng Cheong had asked parliament how much is our national reserves, the reply he received was that it will take 56 man years to produce a dollar and cents value of the immovable assets.
Not only was the PAP government displeased with the question but obviously they took it personally and even went to the extent of depriving him a state funeral when he died in 2002 even though he was a Singapore president.
Fast foward to 2010 and Singapore is currently ranked no 9 on the list of Public Debt by Countries: http://en.wikipedia.org/wiki/List_of_so ... ublic_debt
ranked by the CIA world factbook.
http://www.temasekreview.com/2011/08/13 ... temasek-2/
Below is the reason why we are number 9 behind the bankrupted Greece and Iceland.
Let’s recall back in 1993 when our ex-president Ong Teng Cheong had asked parliament how much is our national reserves, the reply he received was that it will take 56 man years to produce a dollar and cents value of the immovable assets.
Not only was the PAP government displeased with the question but obviously they took it personally and even went to the extent of depriving him a state funeral when he died in 2002 even though he was a Singapore president.
Fast foward to 2010 and Singapore is currently ranked no 9 on the list of Public Debt by Countries: http://en.wikipedia.org/wiki/List_of_so ... ublic_debt
ranked by the CIA world factbook.
http://www.temasekreview.com/2011/08/13 ... temasek-2/