ploaded by krishnaallam on Jul 26, 2011 : Freedom to the prosperity, who benefited? Whose lost? What's the perspective?
Monday, September 3, 2012
Malaysia's Statutory Reserve Requirement (SRR)?
Everyone is buzzing about SRR lately, since Bank Negara Malaysia's statement which stated its intention to raise SRR in the near future. Actually, what is SRR? And, what is the effect of higher SRR imposed? Why BNM using SRR right now? Finance Malaysia hopes to clear everyone's doubt and would appreciate if you can share this out.
What is SRR?
Statury Reserve Requirement is a monetary policy instrument available to Bank Negara Malaysia (BNM) for the purposes of liquidity management. Effectively, banking institutions namely commercial banks, merchant/investment banks and Islamic banks are required to maintain balances in their Statutory Reserve Accounts (SRA) equivalent to a certain proportion of their eligible liabilities (EL), this proportion being the SRR rate.
Since SRR is available to BNM to manage liquidity and hence credit creation in the banking system, it was used to withdraw or inject liquidity when the excess or lack of liquidity in the banking system is perceived to be large and long-term in nature. Currently, BNM believes that our banking system is lack of liquidity, thus it may raised the SRR to "store" more money in banks.
Effective 1 March 2009, the SRR rate for banking institutions is 1% of EL. As of 1st September 2007, the EL base consists of ringgit denominated deposits and non-deposit liabilities, net of interbank assets and placements with BNM.
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| Previous adjustments to the SRR rate MORE HERE >> |
China's reserve ratio (CRR) 20%
Chinese manufacturing hits three-year low
Published on Sep 3, 2012 by AlJazeeraEnglish : China's vast manufacturing sector has shrunk for a tenth straight month. Surveys by the government, and the banking giant HSBC, suggest China's manufacturing slowdown could be worse than first thought. Other figures show the non-manufacturing sector grew, but only slowly. That includes industries such as construction, air transport and telecommunications. Francis Lun, the general manager of Fulbright Securities, a financial group, in Hong Kong, says China's current leaders still have time to make economic changes before they are replaced in November.
Thailand's rice Cartel initiative?
Rice Payment Scheme Threatens Thailand's Status as World's Top Exporter
Thailand rice prices stir up debate
Published on Sep 3, 2012 by VOAvideo : Thailand is risking its status as the world's biggest rice exporter because of a controversial government-purchasing policy to boost farmers' incomes. VOA's Daniel Schearf reports that rice industry insiders say the costly program is inefficient and money would be better spent on long-term investment.
Published on Aug 24, 2012 by EnglishNewsToday : Thailand's governing Pheu Thai party won last year's election partly based on a promise to improve the income of rice farmers. The government introduced a scheme which currently pays them around 50 to 60 per cent more than market prices. The International Monetary Fund estimates that this could amount to $3.8bn, excluding the cost of storage. Despite the cost, the government says it will continue with the programme, because it has a duty to look after farmers. But not everyone agrees that the benefits are worth it.
Monday, August 27, 2012
Friday, August 24, 2012
National Debts & International Law : Odious Debts.
(there are precedence before)
Published on Aug 23, 2012 by TheRealNews : Leonce Ndikumana: Tunisia to audit foreign debt and reject loans embezzled by former dictator.
Thursday, August 9, 2012
Why China's Growth Is Worse Than You Think
Published on Aug 8, 2012 by WSJDigitalNetwork : Gordon Chang, author of "The Coming Collapse of China" joins Simon Constable on The News Hub to discuss why growth in China is even slower than official statistics suggest and whether the fix is already in for the upcoming trial of Gu Kailai?
Monday, August 6, 2012
Meritocracy : Why Our Elites and Leaders Fail
The Nation's Chris Hayes:
Published on Aug 6, 2012 by ForaTv : Editor of The Nation Chris Hayes argues that the decline of meritocracy in U.S. leadership is resulting in elites that cannot help but fail. "We have a social model that is breaking down before our eyes," says Hayes, "a method of elite selection that is growing increasingly sclerotic, rigged, and corrupt."
Sunday, August 5, 2012
Nobel Economist : 'Scrap banks or they'll bring chaos'
Published on Aug 5, 2012 by RussiaToday : Nobel Economics Laureate Edward Prescott explains what he thinks has gone so wrong in the region, and what needs to be done to put it right.
Friday, August 3, 2012
Wealth & the Stock Market : Mark Zuckerberg experience!
Facebook founder and CEO Mark Zuckerberg at a News conference in October 2010. (Justin Sullivan/Getty Images)
Mark Zuckerberg’s is no longer one of the world's top 10 tech billionaires; his fortune fell by $423M on Thursday to $10.2 billion.
Facebook CEO Mark Zuckerberg is no longer one of the world's top 10 technology billionaires.
Bloomberg reported Zuckerberg’s wealth fell by some $423 million on Thursday to $10.2 billion as Facebook stock plummeted to $20.04 a share.
Mashable wrote the stock made modest gains of about 2 percent at one point in trading on Friday.
The tech website wrote the Facebook co-founder is now worth less than James Goodnight, the co-founder of SAS Institute - who replaces him as technology’s 10th-richest person on Bloomberg's Billionaires Index.
Zuckerberg owns 503.6 million Facebook shares with an option to buy another 60 million at $.06 a share. Mashable added he has "$150 million in cash and other liquid assets."
This week has been full of bad news for the 28-year-old.
On Thursday, GlobalPost reported his younger sister, Arielle, announced she will be working at rival Google.
According to the New York Daily News, Arielle works as a product manager at Wildfire Interactive, which was purchased by Google. She tweeted "Not gonna lie...This feels pretty awkward."
Original report | 3 Aug 2012
The Chabad The Empire The Usury - Michael Hoffman
Published on Aug 3, 2012 by 108morris108 ; Chabad Lubavitch is an Organised Political Power.
Wednesday, August 1, 2012
6 Things You Should Know About the $21 Trillion the World's Richest People Are Hiding In Tax Shelters
$21 trillion. That's how much the world's richest people are hiding in offshore tax havens worldwide. Or it may be more, as much as $32 trillion—the real amount is, of course, almost impossible to track. [Malaysia among top 20 losers]
>>>SNIP
James S. Henry, who was former Chief Economist for McKinsey & Co. and is the author of the book The Blood Bankers as well as articles for publications including The Nation and The New York Times , dug into information from the Bank for International Settlements, the International Monetary Fund, the World Bank, the United Nations, central banks, and private sector analysts and found the outlines of the giant pool of cash floating in that nebulous location known as “offshore”. (And this is just money—the report leaves out things like real estate, yachts, art, and other forms of wealth the super-rich are hiding, untaxed, in offshore tax havens.) Henry refers to it as a “black hole” in the world economy and notes that, “despite taking pains to err on the conservative side, the results are astonishing.”
There's a lot of information to wade through in this report, so we've broken out 6 things you should know about the money the world's richest are keeping from the rest of us.
1. Meet The Top .001%
“By our estimates, at least a third of all private financial wealth, and nearly half of all offshore wealth, is now owned by world’s richest 91,000 people– just 0.001% of the world’s population,” the report says. Those top 91,000 have about $9.8 trillion of the total estimated in this report—and fewer than ten million people account for the whole pile of cash.
Who are those people? We know they're the richest, but what else do we know about them? The report mentions “30-year-old Chinese real estate speculators and Silicon Valley software tycoons,” and those whose wealth comes from oil and the drug trade. It doesn't mention, but could, US presidential candidates—Mitt Romney's famously taken flak for having money stashed in a Swiss bank account and in investments located in the Cayman Islands. ( Politifact rated these statements in a recent Obama ad “true.” )
Drug lords, of course, need to hide their ill-gotten gains, but plenty of the other ultra-rich are simply avoiding paying taxes, constructing complicated trusts and other investments just to shave a few more points off the bill they pay to their home country. And it's all adding up.
2. Where's the Cash? It's Complicated
“Offshore,” according to Henry, isn't a physical location anymore—though plenty of places like Singapore and Switzerland, he notes, still specialize in providing “secure, low-tax physical residences” to the world's rich.
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