• info@sabahtalk.com
  • Borneo,
    Kota Kinabalu, Sabah, MY

 

We were nearly bankrupt that we have barely a month of reserve left when Mahathir and his gangs finished off with BNM foreign reserve, and it is nothing in Mahathir's eyes.

 

 

Malaysia did not suffer financially from Bank Negara's disastrous foreign exchange trades in the early 1990s, but it is suffering now due to 1MDB related issues, Pakatan Harapan chairperson Dr. Mahathir Mohamad said.

 

For Mahathir, the forex incident that took place almost 30 years ago, when he was prime minister, had already been "resolved".

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Didn't suffer? Is Mahathir in denial? Or living in his mansion, travel overseas, horseback riding in Argentina, and sailing in his luxury yacht with his grandchildren that he couldn't see the reality on the ground?

 

Because of this scandal:

 

1) We lost RM100 billion in today's money. Do you know how much this is? That is 15 times the amount in BR1M paid to 7mil people in 2017.

 

That is 18% of our GDP for the year 1994. Which country loses 18% of our GDP in reserves and there is no effect or harm?

 

Due to the size, it had to be amortized over 20 years by BNM.

 

2) MAS had to be sold by BNM to partly cover the hole - leading to MAS long-term decline.

 

3) BNM went bankrupt and had to sell their other shares in GLC such as Telekom.

 

4) Our country had lower FOREX reserves which contributed to people attacking our currency which contributed to the 1998 economic crisis - which led to a 60% drop in our exchange rate from RM2.40 to RM3.80 for many years.

 

5) We were sitting duck when your good friend George Soros decided to attack us and causes our BLR to spike over 13% to the level that has never been seen in the entire financial history of Malaysia.  Businesses were forced to close and recession set in all because BNM has no strength to counter George Soros's attack on our currency.

 

You caused a RM100 billion hole in our money and you say Malaysia didn't suffer?  Are you seriously speaking in your right of mind??

 

Senang you cakap.