RISE UP FOR SINGAPORE, NOT FOR ANY PARTY
Based on feedback, I must pause to declare that this is a Pro-Singapore blog. I have never been a member of any political party. If my intention is to support the opposition, I would have done so before the Parliamentary Elections.
MOST HORRENDOUS MISTAKE SINCE BRITISH SURRENDERED SINGAPORE
For years, I had assumed that our government only makes infallible decisions. I therefore thought I can live happily ever after as a quiet and private citizen. I am a beneficiary of the many excellent decisions our government has made. My preferred quietness and privacy was jolted by a review of the 2008 Presidential decision to make limitless guarantees of all foreign banks deposits in the light of the upcoming Presidential Election. It is the most expensive decision Singapore has made since the British surrendered Singapore.
PRESIDENTIAL RESPONSIBILITY
This topic should have been initiated and discussed elaborately by the aspiring Presidential candidates rather than by me. Sometimes, I wish I have zero knowledge of finance. Then I can enjoy a peaceful life of love, romance, comedy, courtship, marriage and parenthood. As they say, “Ignorance is bliss”. However, mass ignorance is disastrous.
BETTER SOLUTIONS BEFORE NEXT CRISIS
I therefore feel a sense of responsibility to convey my human understanding of the pros and cons of limitless bank guarantees. I hope it will help our government and President make better decisions before the next crisis strikes like a lightning global earthquake, tsunami, volcano, hurricane and blizzard combined.
FATAL ATTRACTION AND ARCHILLES HEEL OF INFALLIBILITY
The everlasting truth of central planning is that one bad decision can wipe out many excellent decisions made over many years. This is a sacred, indisputable reality when there is an over-concentration of power and money. It is as real as the law of gravity. It is suicidal to go against it. The eight words, “NEVER PUT ALL YOUR EGGS IN ONE BASKET” conveys this truth better than 700 billions pictures. Beware the Fatal Attraction and the Archilles Heel of the strongest and wisest central planning. It is a beauty trap, a honey trap and a money trap. The past victories of Archilles can deceive him to think that he is infallible. That thought of infallibility alone can be the cause of his own downfall.
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RISE AND SHINE FOR SINGAPORE
I beseech you as fellow Singaporeans to study the articles in the blog objectively. Read it two times, three times or as often as it takes for you to comprehend it. If need be, please seek the insights of your fans, idols, peers, professors or superiors.
writejt@gmail.com
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Yours Sincerely,
Joseph Tan
http://singaporereserves.blogspot.com
