[CNA Exclusive] PM Lee shares inside story of the reserves - Pt 1/3 | Singapore Reserves Revealed
ฝัง
- เผยแพร่เมื่อ 14 ส.ค. 2023
- Singapore Prime Minister Lee Hsien Loong recounts the first time he realised his government needs to dip into the reserves, how that occasion differs from the second drawdown during the pandemic and the critical difference the extra funds made to Singapore’s survival and prosperity. READ: cna.asia/3qwJ62q
00:20 What goes into the reserves?
03:22 Reserves' most pivotal moment
05:51 What did Lee Kuan Yew say in 1984?
07:07 When was first time you needed to tap into the reserves?
11:37 How different was the COVID-19 drawdown?
13:34 Was the drawdown the right thing to do?
14:44 How did the reserves help Singapore obtain the vaccines?
#SingaporeReservesRevealed
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Hats off to PM Lee. How does he explain these complex things so simply and so layman? Very impressed. He made it sound so easy, but I think it really takes an elite and collaborative government to see through the chaos and focus on doing the right thing.
You should have seen his dad..
@@falsch4761 Legendary comment 😂
Only attempting to Share Selectively After Caught Red Handed … The Reserves Contain Evidence of PAP’s Criminal Enterprise … ie. Land Grab, Crony Capitalism etc
This kind of transparency is honestly what Singaporeans need to build trust in our government. Communication is key! Such a good series!
Or firefighting I dare say ceo of DBS will not be renewing his contract
Hope this becomes a series where ministers explain policies, law and key elements of government in a format like this! Keep up the amazing work, CNA :D
good PR move on the government's end. especially amidst the recent sagas and all
But the Elephant remains in the room. You missed the main point
@@LonganLee I didn't. My comment was on the extension of the video's theme and idea.
There is no perfect Government in the world. But as a Singaporean, I am very grateful and counting my blessings that we have a good and strong Government. Essential things like Public housing, water, electricity, Education, Security and communications are all well in placed. It’s not perfect but still, I am grateful.
Don't confuse and conquer voters. This election is not about how you benefitted from singapore . Its about who is most independent of ruling elites to hold the second key. Luckily voters not so gullible as before.
All schools and institutes should broadcast this to all singaporeans. This is so insightful and teach you how you see thru challenges
I totally agree. I think the problem with the establishment is that they don't always articulate things fully. They prefer to give soundbites that they hope would stick. I think this video is a step in the right direction.
Instill pride of being a singaporean and love Singapore.Singaporeans today are too pampered and unappreciative.
I teared when listening and memories flood back… Proud to be a Singaporean! It’s always hard to pleased everybody, it’s always easy for people to throw stones at proposals.
I worked in Europe for few years before returning. Look at how long things get dragged out how many governments went into debts during covid how many lives lost before government take actions. Singapore did not even gave up on foreign workers everyone gets vaccines for free. We get honest feedbacks and updates of covid situations.
Salute to our government and the fellow Singaporean including health care professionals, cleaners and volunteers!
Europeans who worked in SG who returned to Europe will tell u they are proud of their government instead
How can you compare. You think aligning Bedok and Tampines is less or more challenging than aligning Serbia to Germany lol. How’s ASEAN going for ya. Cant even get the Indonesian to stop giving your child Ling cancer.
No matter what the naysayers say, I'm glad we have this government. It's not easy to make these decisions and to keep everybody happy. At least we came out of Covid without borrowing from other countries.
I'm not Singaporean, but I have a tremendous amount of respect for PM Lee. Its great to listen to all his talks and debates, What an amazing leader.
wow this is a masterclass on risk management, finance. truly amazed on how PM Lee is happy to teach us these
Watching this makes me proud to be a Singaporean and also understand who i have to vote for our next President. In the past, I always thought our President is just for show as the PM holds the real power. Definitely not a role to be taken lightly, so I hope every Singaporeans will vote wisely.
One of the best country in the world. Took them only 50 yeears to become a first world rated nation. Not an easy thing to do but somehow they did it excellently. All the best to you, Singapore!
And only a few days to squander all the reserves if the model is flawed :
*Reserves Secretcy*
This is a deadly flaw because *Ironically, secretcy is what allows future rogue govt to really Raid the reserves or Hide losses from the peasants*
If govt turns rogue, all the ownself checks will fail.
This is something can’t be done within 4 years of presidencies. It has to be consistently carry out year after years which make me think how terrible US government can be. The current president can scrap everything last president was trying to do. Nothing can be done for long term.
People who keep wanting the country to spend the reserves while they complain about stagnating wages (which have been rising btw), $1 increase in caipng, yet are building their wealth in CPF, owning multiple properties, etc. are in other words just want the government to “distribute” the reserves and make it their own business to save and spend. However what this will lead to is that the government increasingly loses the ability to ensure redistribution principle (across wealth and across generations) in spending, and this will also eventually lead to furthering inequality between the haves and have-nots and the present and future.
This is a great series because it helps us understand, think about and take ownership in a public good that is technically an inheritance from our founding fathers but also our responsibility to leave for future generations.
I'm so grateful to be a Singaporean. Singapore is clean, organised and competent ! Bravo to a job well done 👏
Your colleague or IB already cut and paste similar message as you lah bro.
Don't confuse and conquer voters. This election is not about how you benefitted from singapore . Its about who is most independent of ruling elites to hold the second key. Luckily voters not so gullible as before
I was born and raised in Singapore in the Gurkha camp and am always proud to have gotten a world class education and health care growing up! Even though I don't have a Singapore residency I am a Singaporean at heart and have sung Majulah Singapore and the national anthem from young! Long live and prosper singapore!
You are confused and mistaken. EP is not a out how you benefited from SG. Don't use this to confuse voters. This EP is about who is independent. Your logic is the traditional confuse and conquer method. You benefitted from sg so you say your loyalty to one party? That's wrong you know? At least you can not qualify as public servant if partisan
@@LonganLee is loyalty to a person/party that looks out for its citizens bad? Have you seen most Asian countries around you? Malaysia? Indonesia? Maybe you prefer to be born in China instead? Please count your blessings and stop being so self entitled!
@@parlatr everything you said is not what I was talking about. What you need to do is point out what have I said that is wrong. Self entitled? You are totally out of point. I looking at improving sg. You are comparing sg with lousy countries where their leaders are not paid the highest in the world in term of official salaries. What is wrong with wanting sg to improve, to have a president independent from PAP? If you can show me whats wrong I would be impressed.
@@LonganLee Singapore is already at the top of the most transparent governments in the world. America and China has more skeletons in their closet if you ask me. A government that makes sure every citizen gets public housing with CPF, free healthcare and world class education in Asia sounds like an awesome deal to me! Im sorry the only way your argument makes sense if there is another country doing it better than Singapore! of which there is very few!
@@parlatr the fact remains opacity is true. Reserves Secrecy is a risk you cannot defend against. Else you try rebut me on this. Past is not future. You are hiding behind the past to cover the present and future. LKY is no longer existing anywhere in the parallel universe. Yet videos of him keep being played all over to singaporeans. What are you up to? There is No more LKY in sg. Not ONE person in sg alive today is a LKY. I am trying to improve SG, yet so many of you trying to use the past to cover the risks. Who is the real Patriot of singapore? You think criticisms of sg is evil and wrong? We are the true patriots because we point out he weakness but people like you cover it up. There is no way you can debunk me. And pls don't use the typical IB way of ducking the question
I'm grateful to be a Singaporean
Well explained
Well done
Don't confuse and conquer voters. This election is not about how you benefitted from singapore . Its about who is most independent of ruling elites to hold the second key. Luckily voters not so gullible as before
You Singaporeans are fortunate to have Prime Minister who are thoughtful leaders who are deeply passionate about their nation and future, never seen a country who govern their country with as much depth and passion as your leaders do
PM Lee’s outstanding contributions have left an indelible mark in the history of Singapore, showcasing his dedication and remarkable abilities. Heartfelt congratulations on a job incredibly well done by PM Lee and his dedicated teams of competent ministers!!! ❤❤❤
Singaporeans do not trust the PAP government with our reserves. This PAP government is corrupt(ref minister SI), have perceived conflict of interests(ref minister KS and VB), and immoral(ref speaker TCJ). PAP government cannot be trusted to manage the reserves in the best interest of Singaporeans.
There must be a new approach to managing the reserves and ultimately return it proportionately in full to all Singaporeans. The new government or President(yes, Singapore's President has political powers when dealing with the reserves) must develop a plan to systematically liquidate all assets in the reserves over a period of no more than two office terms at fair market value, then make a one-off endowment to all Singaporeans. This plan can eliminate corruption by corrupt PAP officials, eliminate Singaporeans' dependence on government handouts, and solve cost of living problem for Singaporeans.
If Singaporeans support this plan, suggest it to your MPs or Presidential candidates and hit the like button below.
So grateful we have a strong and wise government. Thanks to our founder and his team. I'm so blessed that I'm a Singaporean.
I am grateful to be born a Singaporean and much more to have a strong and wise government . Fully agree with PM statement - our Singapore passport hold superb status when we travel to a foreign country . We will always be perceived as a strong and civilized country , well respected in the global stage .
leceistetin, luxemborg, estonia all tiny nations also passports hold superb status when we travel to a foreign country
Thank u pm for taking the effort to enlighten us. Totally agree that savings shd be put to good use when necessary. Serious tots and potential outcomes would have been considered before using the reserves.
Pls continue to work hard for our future generations (but be more relaxed on our people).
加油
Awesome work done here. Of course, LKY was a visionary, but it takes the right people to maintain and continue his vision as well. Thank you to the leaders who worked strategically. I’m proud to be born in Singapore, and Singapore will always be my home.
Right people? 2 MP's having affair? I mini star under CPIB investigations? right people?
This series ought to be shown to all Singaporeans, maybe can even be in book form for reference in our National Libraries
All thanks to LKY and his advisors. Without LKY and Pioneer Generation there is no Independent Singapore and its Growing reserves 🦁🦁🦁🦁
PRECISELY 👍👍👍
Klaus Schwab " You Will Own Nothing & Be Happy "
HDB 99 yr LEASE
Cars 10 yr COE LEASE
SG is the PERFECT EPITOME of WEF
Singaporeans do not trust the PAP government with our reserves. This PAP government is corrupt(ref minister SI), have perceived conflict of interests(ref minister KS and VB), and immoral(ref speaker TCJ). PAP government cannot be trusted to manage the reserves in the best interest of Singaporeans.
There must be a new approach to managing the reserves and ultimately return it proportionately in full to all Singaporeans. The new government or President(yes, Singapore's President has political powers when dealing with the reserves) must develop a plan to systematically liquidate all assets in the reserves over a period of no more than two office terms at fair market value, then make a one-off endowment to all Singaporeans. This plan can eliminate corruption by corrupt PAP officials, eliminate Singaporeans' dependence on government handouts, and solve cost of living problem for Singaporeans.
If Singaporeans support this plan, suggest it to your MPs or Presidential candidates and hit the like button below.
@@gabrieleea2789
Yes thanks LKY but also thanks LHL more. When LKY stepped down, our reserves was about $200 billion, now our reserves stands at about $1 trillion...this means LHL has been doing a great job saving up for Singapore. We Singaporeans are lucky to have both father and son leading our country 🇸🇬🇸🇬....
@@bell-xk5dd ABSOLUTELY 👍
I am grateful to the efforts and policies of Singapore government that allowed my company to keep the job of every single employee during those tough covid times. 🙏🏻
We have to have faith with Singapore’s government based on their ‘report card’ on their handling of the covid-19 situation. On how they transform the negative global situation to a positive advantage for Singapore & Singapore shines & stand out from all other countries! We know it is NOT AN EASY TASK! Having a good reserves is Correct & Important & use it when it is needed and most importantly, our government has the wisdom on how to use the reserves! Thank you Mr Lee & your team! Appreciate! 🇸🇬👍🏻🙏🏻We need government with wisdom, not ‘goondu’
I am really really proud to be a Singaporean!
Gratitude and respect for LKY and team for spending whole life building an solid system and governance that help us out in difficult times, above and beyond the call of duty. 🙏💪👍
@ragkumarvel...
LKY IS THE SOLID FOUNDATION FOR WHO WE ARE OF/IN SINGAPORE 🇸🇬
There has not been a more intelligent nation builder in all of modern history. What he did was nothing short of incredible. I never liked the term "father of a nation" but in this case it is most certainly true.
@@avarmauk 👍👍👍👍
Don't mistake gratitude for servitude. Sg is never built by 1 man
Thank you PM lee, a great series to shut some empty populist vessels. I travel often & whenever people asked where I’m from, it’s always met with praises & pleasantries. An achievement I can’t say the same for many. Proud to be a Singaporean!
The citizens of Singapore Must be given their due respects and credit for their tenacity, resilience and compliance...a government is nothing without a compliant nation
What else can the ordinary Singaporeans do? They have to work more than one job to keep up with the rising cost of living. No time to enjoy life, if you're not super rich as the politicians, investors, and some expats business employees. The older generation there are not well off. Some were born before the compulsory personal saving scheme was introduced. Their children help to an extent, or are not cared for. Lonely lost old people in the housing complex early in the morning.
You got that backwards. The government is nothing without the people. People are still people without their government
Jamus Lim from WP was questioning PM Lee why Singapore shouldn't have a 3rd key to gain access to our reserves. Now that Lawrence Wong has explained how our reserves are being used as guarded secret weapon against foreigner threat to attack Singapore Dollar, I would like to ask Jamus how long has he been in public service and why should Singaporeans trust WP when 3 prominent WP members and MP were caught lying no just to Singapore, but even to there leader. And how can WP be trusted when their leader is clueless about what happened under his nose? Such as Leon and Nicole scandal? What happen if the 3rd key decided to sabotage Singapore by revealing our secret to foreigners such as George Soros? Take it to the grave?
From a Filipino working in Singapore, I'm really proud of how Singapore's government works. You have very competent leaders.
You will be surprised there are still many Singaporeans who are complaining instead of counting their blessings
@@wz758obviously they haven't been to the rest of Asia
they were lucky cause they made a deal with world bank, unlike other asian country, the world bank literally had everyone by the balls, the hidden hand, commitee of 300
@@aarong.5979 they go downstairs to their kopitiam to complain to other like minded individuals
It always take the foreigners to appreciate the govt, while some Singaporeans only complain from morning to night
This series should be shown to all singaporean not only in English but all the 4 languages and also dialect .❤
All thanks to Late Singapore Father Mr Lee Kuan Yew, his able ministers Goh Keng Swee, Hon Sui Sen and Rejaratnam, and many other great leaders in building Singapore and setting up Singapore Reserve for generations to come. ❤
All thanks to PM Goh Chok Tong and his team for continuous guarding of reserve and passing the baton to current 3rd G leaders helmed by PM Lee. ❤
We pray our 4G leaders led by DPM Lawrence Wong will take Singapore to the great next height! ❤
❤ I love PAP.
Reserves Secretcy. This is a deadly flaw because *Ironically, secretcy is what allows future rogue govt to really Raid the reserves or Hide losses from the peasants*
If govt turns rogue, all the ownself checks will fail.
We are so blessed.
There's this simple saying.
If your government is corrupted. You will not have such huge reserves for your people.
Thank you prime Minister, please know there ARE MORE Thankful and Grateful people in Singapore and from Abroad..😊
Singaporeans do not trust the PAP government with our reserves. This PAP government is corrupt(ref minister SI), have perceived conflict of interests(ref minister KS and VB), and immoral(ref speaker TCJ). PAP government cannot be trusted to manage the reserves in the best interest of Singaporeans.
There must be a new approach to managing the reserves and ultimately return it proportionately in full to all Singaporeans. The new government or President(yes, Singapore's President has political powers when dealing with the reserves) must develop a plan to systematically liquidate all assets in the reserves over a period of no more than two office terms at fair market value, then make a one-off endowment to all Singaporeans. This plan can eliminate corruption by corrupt PAP officials, eliminate Singaporeans' dependence on government handouts, and solve cost of living problem for Singaporeans.
If Singaporeans support this plan, suggest it to your MPs or Presidential candidates and hit the like button below.
another pappy troll? You dont want back your full sum CPF? very rich hor
PM Lee is a legend as much as his father... It's a privilege to have such leaders heading your country in your lifetime also Singaporeans are very compliant nation which is a key factor... I am not Singaporean by the way.. This is my personal opinion...
Thank you PM Lee. The stability that the reserve has enabled cannot be underestimated. For instance, the stability of our currency directly affects how we live our daily lives. Really appreciate how well it is run.
I don't understand why people keep forgetting that Singapore is only a single city-state nation n not a big sized country with lots n lots of leeways in terms of resources, land, population, etc. Stop stop comparing to countries other than other city-state nations. So we need to save what we can for rainy days, most recently the covid pandemic. If we don't save n make ourselves a welfare state with pension for all, then we may use up too much n end up like Paris.
IKRRRRR.
The question is what you omitted, that you cannot prove what you claim because there is Opacity. You are merely basing on believing
🤫 you don’t know what you’re talking about
@@nathanolson3135 exactly. Poss a Paid actor
@@LonganLeeIf you are half as smart as you think you are you should already know the answer simply by asking why so many big funds, international financial institutions, UHNWI with vast networks and connections in the financial world, are sinking their assets and money into Singapore. Or why Singapore dollar is 3.5 times the value of Malaysia Ringgit when we have no vast land, big population, or oil reserves. And as Warren Buffet said, its only during the crisis that we will know who is swimming naked. In the last 58 years, I am sure we have encountered numerous crisis and we are still looking as charming as a Merlion.
Dear PM Lee,
Very grateful for your education.
Very grateful that PAP Government is really world class in brilliance of Administration &
a non corrupt Government
Very grateful to be a Singaporean.
God Bless PAP Government!
Majullah Singapore!
This is the way to broadcast it. Very nice presentation. Awesome🇸🇬
Thank you PM Lee! 👍👏🙏
Thank you very very much . I am a proud Singaporean. Thank God my family are all born here. When overseas if anyone ask me where I am from very proudly Singapore.
Reserve and CPF is backbone. Blessed to have forward thinking leaders.
Is it just me or is PM Lee’s style more dapper! He is utterly charming. ❤
Grateful for a thoughtful and careful government 😊
Singaporeans do not trust the PAP government with our reserves. This PAP government is corrupt(ref minister SI), have perceived conflict of interests(ref minister KS and VB), and immoral(ref speaker TCJ). PAP government cannot be trusted to manage the reserves in the best interest of Singaporeans.
There must be a new approach to managing the reserves and ultimately return it proportionately in full to all Singaporeans. The new government or President(yes, Singapore's President has political powers when dealing with the reserves) must develop a plan to systematically liquidate all assets in the reserves over a period of no more than two office terms at fair market value, then make a one-off endowment to all Singaporeans. This plan can eliminate corruption by corrupt PAP officials, eliminate Singaporeans' dependence on government handouts, and solve cost of living problem for Singaporeans.
If Singaporeans support this plan, suggest it to your MPs or Presidential candidates and hit the like button below.
Finally, I understand the whole story of our Singapore Reserves. Thanks this is indeed insightful content! Good educational piece. 😀
proud to be Singaporean! haha! LSL said, "help the economy open faster, and we knew we will save lives (emphasized voice)" because is the same importance for Singapore to grow quick.
thanks for this crash course on reserves CNA! 😂 proud Singaporean ❤
Wow.. how grateful we in Singapore should be
This is really important but it is sad that most people would refuse to understand it. Propaganda or not, there’s some logic to this ☝️
Agreed. Whatever their political leanings may be, understanding how the nation's money and asset is managed is really important. Even if they don't understand it truly well, the least one could do if they want to know more is find out how money works in the context of operating a country and ensuring people's lives are not badly affected. Otherwise, it's just emotional blabbering without basis or context.
what makes u think most people would refuse to understand it? and understand what? what's there to understand? pray tell?
That was a very quick 16 minutes of my life. Super informative and intelligent honest break down
Thankfully to all the good talents and PM who made good decisions.
What an admirable country. Can’t help myself wishing to have the same kind of government in my country.
Really appreciate the PM doing this, though there wasn't much in this interview (parts 1, 2 & 3) that I didn't already know tbh. The part about learning from how American Ivy league colleges manage their endowment funds was actually quite refreshingly new knowledge and surprising for me.
But I can see and I know that a lot of people - probably most Singaporeans - weren't aware of a lot of this info. So, thanks again PM and CNA!
It's pretty much like listening to a school class hehehe
P.s. I would add that if we raided our savings and went on a spending spree, that would generate high inflation in the short-medium term, which is reason in itself to not spend it uncontrollably/unsustainably.
@@johnlim1678thn you run the country lor
Fully support PM Lee
Iam convinced SG had the best government in the world
This is what I love about our current government. TRANSPARENCY! Thank you for the explanation.
Is it so transparent? How do u explain tcj n clh 3 years of secret affairs?
@@kklim3619why you so busy with affairs. Let them settle it within their families. Reserves on the other hand, matters the most. It has something to do with our Singapore future
@@abbylady5 hey, u shd be asking whether r we too focus on money n not as much on moral? This then is spore future.
I thought we loss quite a bit of our GIC,Temasek in overseas investment lately?
TRANSPARENCY! or no transparency? nobody knows
Financial nous is important. The proof is in how Singapore is now a world class and first world country. Great explanation and information. Thank you.
Great to explain all these to us even it may be technical to some.. give people confidence & an Avenue to understand our forward thinking government
the story we all want to know.. and PAP has my vote.
another pappy troll? You dont want back your full sum CPF? very rich hor
Me too
Remarkable series.
People think SG is small nation so managing is easy. Actually its other way!!! I am not economist but as citizen of huge country I understand. SG has land, resources and human population limitation. They cannot take more people but growth is needed. Ageing, migration of young, does the World want to invest in SG and not other countries in Asia lot of factors need to be balanced for SG. I do think SG is well maintained and they dont give freebees just like that to their people. However, they also dont over encourgae migrant population. Come, work, earn, pay taxes but not all can be accomodated in SG and its very fair. If all shift to SG where would youth and old of SG would go.. if someone truly dedicates to growth of nation should be PRs and not just the ones for powerful passport and then run to another country are not right fit for PRs.
A lot of migrants want to use SG as a jumping board to migrate to countries like US or Europe.
@cancanjaker1620 unfortunate truth. We must take pride in growing Asia. I feel we have so much manpower and talent, skilled highly educated folks. We need more manufacturing, not sub contract but home-grown businesses, R and D. f we grow Asia, how will it be less than west? Then there is no need to go to the West and be secondary citizens.. At the end, it's a personal choice, cannot judge what each one wants...
What a cool video series. Great idea.
Being a small city state country, we are vulnerable in all aspects; economically, foreign invasion, etc. And the reserves is to ensure the independence and sovereignty of our country. This is why the total sum of our reserves must not be made public.
The total sum is not known, as the market place is not controlled by DICTAT.
🥹
a lot of ppl do not understand this point....
@nicekit economics is not easy to organise. That's why left wing, street & outsiders tries hard to gain a KEY to the FUNDS of the STATE.
BUT, world of finance does not revolve around DICTAT.
It is ORGANISATION, values, culture.
🥹
PRECISELY! THERE ARE FOREIGN BUAYAS INWAITING TO CALL " SINGAPORE : PAPA!"
Singaporeans do not trust the PAP government with our reserves. This PAP government is corrupt(ref minister SI), have perceived conflict of interests(ref minister KS and VB), and immoral(ref speaker TCJ). PAP government cannot be trusted to manage the reserves in the best interest of Singaporeans.
There must be a new approach to managing the reserves and ultimately return it proportionately in full to all Singaporeans. The new government or President(yes, Singapore's President has political powers when dealing with the reserves) must develop a plan to systematically liquidate all assets in the reserves over a period of no more than two office terms at fair market value, then make a one-off endowment to all Singaporeans. This plan can eliminate corruption by corrupt PAP officials, eliminate Singaporeans' dependence on government handouts, and solve cost of living problem for Singaporeans.
If Singaporeans support this plan, suggest it to your MPs or Presidential candidates and hit the like button below.
Lee Hsien Long helped me to revise economy which I had studied in university.
❤ grateful
I enjoyed this kind of documentary. Thank you
You should be asking why they are releasing this video, 15 days before the Presidential election on Sep 1, kid !
Wise up !
Lol that state of us, that the pm has to literally educate the people against falsehoods for 1 whole hour while prepping for the rally. We need to train Singaporeans not in maths and science only but Critical thinking also.
Omg, look at social media, everywhere also speculation, talking kok falsehoods. SG still needs you PM even if u say u want to retire, the situation not allowing you to do so
Thank U to forefathers
- all 1st G , 2nd G, 3rd G current leaders for all the efforts you have done in different eras and events that swiftly change with time!
Thank You Prime Minister Lee HL for your leadership and all your team leaders for guarding Singapore's reserves from pests, thieves and potential thefts by cyber rogue and gangsters in this era!
Thank You Sir 🎉🎉🎉🎉🎉😊😊😊❤❤❤
another pappy troll? You dont want back your full sum CPF? very rich hor
I do appreciate this video. This will certainly allow us and especially me to understand what is going on behind the scene. The govt should cont to engage the people with dialogues or even videos like this. Please dun assume we always understand what the Govt is doing. A lot of times really lack transparency.
another pappy troll? You dont want back your full sum CPF? very rich hor
The Singaporean government has implemented a system to safeguard its financial reserves, which include financial assets, land, and companies. These are considered valuable assets that could be converted, sold, or pledged in times of need. To ensure the protection of these reserves, the government has identified six entities, including MAS, GIC, and CPF, that have oversight from an elected president who has veto power over key names on the board and CEO. The decision to implement such a system was made in 1984 by former Prime Minister Lee Kuan Yew, and since then, refinements and modifications have been made to the arrangements for the elected president and the second key. The fundamental turning point was the decision to crystallize the idea and implement such a system. The system is in place to prevent a rogue government from raiding the reserves and to set guide rails and limits for the proper operation of a good government. While there are other assets and parts of the government that are not covered under this system, the identified entities and assets are considered the big pieces that need protection.
Should be saving more like what DPM Lawrence Wong mentioned, I think we really owe it to our forefathers what we have today and should never feel entitled about it.
Many politicians only talk about how to use the reserves. It takes courage to grow it and to use it sustainably. Courage that is not found in our current batch of opposition politicians.
It is very simple to act like a populist politician. Every handout is forever too little. Every contribution is forever too much.
It's even easier to make motherhood statements and paint a good picture without being independently audited. If I dissect your assumptions you will cry. Which of your eyes audited the reserves? Left one or right one? Come and debate
@@LonganLee what a dumb statement, Singapore gov has been rated by all 3 major ratings agencies with the top rating. you think you are better than these agencies?
@@LonganLee Which of your eyes witnessed any auditors doing their work for any organisation? Which of your points rebut my argument about using the reserves sustainably? Come, don’t talk rot.
@@derekfence5090 all MNC should sue you. They have independent audits.
Singaporeans do not trust the PAP government with our reserves. This PAP government is corrupt(ref minister SI), have perceived conflict of interests(ref minister KS and VB), and immoral(ref speaker TCJ). PAP government cannot be trusted to manage the reserves in the best interest of Singaporeans.
There must be a new approach to managing the reserves and ultimately return it proportionately in full to all Singaporeans. The new government or President(yes, Singapore's President has political powers when dealing with the reserves) must develop a plan to systematically liquidate all assets in the reserves over a period of no more than two office terms at fair market value, then make a one-off endowment to all Singaporeans. This plan can eliminate corruption by corrupt PAP officials, eliminate Singaporeans' dependence on government handouts, and solve cost of living problem for Singaporeans.
If Singaporeans support this plan, suggest it to your MPs or Presidential candidates and hit the like button below.
Singapore Reserve is what gives MAS and Singapore the ability to adapt and change course to help Singaporeans without having to beg for help from neighboring countries, world bank or IMF. Many Singaporeans are still clueless about how small Singapore is in size and influence. Without solid reserves, Singapore's currency and assets will be vulnerable to attacks by foreign countries. Singaporeans should be smart not to indulge in fakeness and myths created by those fly-by-night political activists hoping to divide and conquer Singapore. e.g. Jamus Lim ask for a 3rd key to access to reserves. My question to him is, how long have you been in public service and why should any Singaporeans trust what WP said when 3 prominent members from WP were caught lying to their own leader? Wake up Singapore and learn to be thankful for what we already have
Well said 👍👍👍🇸🇬
Huh Jamus/WP want to get a key to do what? They got experience in handling large sum of money for a small country meh? I mean, I got no experience but imma say budgeting for a town area different from a city-sized area leh
@@spencerwinters pappies born investors? please lah !!!! MAS lost $30.8 billion. how? expert?
@@johnlim1678 😂😂😂 that one idk how. Who lost it? Like which PAP minister? I hope that fella not our minister of finance now. Of course they not born investors la, I mean if you compare experience and probably track record of non government investments… I dunno Mr Warm Cockles can match up or not. But if his success rate higher even though lesser years of experience then yes, he can match up.
Reserves is always good for raining days. Also, will be good to set aside a certain amount to reward and share the fruits of our labour on an annual basis especially year end so that we have a bit of bonus to go into a new year and start working hard again. This will serve as a great motivation and reminder for us that Singapore do remember us and not just keep saving for the future generations where we have been labouring o build up the reserves! 😅
We ALREADY ARE spending it on current generation (50% of NIRC returns is earmarked for current expenditure), you clearly are NOT watching carefully enough
another pappy troll? You dont want back your full sum CPF? very rich hor ....
My reserves is the cpf used for housing and investments. Now returning the housing loan with accrued interest back to cpf after 25 years loan. Daily operating budget and savings from salary. By 65 in 8 years time, i will be a millionaire. Budgeting is an interesting numbers game when you see growing with a frugal lifestyle and pampered yourself with expensive things from time to time with no worries.
One of the best in the world
FT ? why no help your own country?
Well done CNA, for the PM presentation and the video/text add on. ❤
looking much like LKY. Really touched to see this
Pm Lee hsien God bless all over of the world Amen
as a vnese working in sg, hats off to s’pore gov, wish our gov can be just as good as half of that quality
must admit he is indeed handsome
Timeline of recent events:
16 Aug PM video release on Singapore Reserves
20 Aug National Day Rally
22 Aug Presidential Nomination
1 Sep Presidential Election
On a side note, thank you PM LEE for your sacrifice and good work!
Why this Series Suddenly ?
So Tharman is An INDEPENDENT President candidate or ANOTHER PAP PUPPET just like OUT going Script Reader?
Planning tok Kong, I must say.
@@beezlebub9
4G is The EPITOME of POSTURING n PROPAGANDA 🐃💩
👏👏👏👏👏👏@@vincecarlo
You got it !
Out of the blue they decided to release a video on their reserves !
They sure did a subtle promo for their candidate Tharman.....
If Singaporeans are more street smart rather than book smart, they can see thru this BS !
I believe that main issue is that too much CPF and reserves are in the control of one government and to avoid any conflict of interest, it is better to have a president who is independent rather than someone who can be influenced by the ruling party of the opposition side.
It's good you have come out with this video to clear the air and all the misunderstanding which many of us may have .
The important of savings.
Reminder to myself too
Thanks for openness to the citizens.
What about acquired properties from citizens?
Thank you for this video
Actually, the biggest misconception is to leave our reserve to new citizens when their parents have not gone through the independence and formative years of the Republic of Singapore! Keep in mind, we have a Very Low tfr!
Please distribute our reserve to our true blue Singaporean before we become extinct!
Import more lor😂😂😂😂😂
As a Singaporean, I am truly appreciative of the fact that our small little nation is being governed and managed by people who are not only smart and resourceful, but they always put the nation's and the people's interests as the top priorities in their governance. The PAP government has put in place all the possible guard rails and boundaries they can think of to safeguard the nation, to make sure almost everyone is being taken care. Why are falsehoods still being spread that people can't draw out their CPF monies? And what nonsense is that foreigners snatch away local people's jobs? Companies hire people for their skills and talents, not based on their nationality and when lower wage workers are falling behind, what has PAP government done? They put aside money, encourage locals to upgrade their skills, switch career path and now, there's even Progressive wage requirements on various industries. So what else should our government do? Pay for all the needs of the people from birth until death, like parents of some Asian countries do for their children who end up not working and just laze around in the house? This will be such a disaster for our little nation that has absolutely nothing except people 😤
❤ I love PAP.
Reserves Secretcy. This is a deadly flaw because *Ironically, secretcy is what allows future rogue govt to really Raid the reserves or Hide losses from the peasants*
If govt turns rogue, all the ownself checks will fail.
Soo very well done,always a good eye for finance under this,goverment(may we hav yr)advice for many years 2com
Reserves enable us NOT to be a borrower! Manage our money wisely precedes reserves!
Well Singapore's current national debt is more than USD 800 Bn. Which has a debt to GDP ratio of 167%. For comparison the USA has a debt to GDP ratio of 122%.
I'm not trying to say that Singapore is doing anything per se. I'm simply stating this to illustrate that even the best governed nations on Earth have a serious "money problem"
@@avarmauk You're talking about gross debt, not net debt. If you're talking about "serious money problems", Singapore is one of the least likely countries to fit what you're trying to illustrate. In a more simplified manner, if every creditor that has loaned Singapore money decided to claim the money back from Singapore at the same time, we would have no problems paying it all back. Our reserves have more than enough to cover that sum.
@@vyintl Your point is valid. I didn't mean to paint Singapore as an irresponsible borrower by any means, it is probably one of the top countries worldwide to manage debt well. I agree that they have more than enough to pay back all creditors with more to spare. My point was more to illustrate that currently the world is fuelled off of debt. It definitely wasn't a dig at Singapore which is probably the best managed country I've ever been to.
MAS lost $30.8 billion. is okay?
@@avarmauk Google already explains the 800B
“This is because the debt comprises Singapore Government Securities, Special Singapore Government Securities, and Singapore Saving Bonds, that are not used for spending. The borrowing proceeds are invested. The Singapore Government has a strong balance sheet with assets well in excess of its liabilities. ”
i remember reading news that other Asean countries, their citizens need to go shopee and rush to buy vaccines, oxygen tanks and ART kits
Now you buy lor. 😂😂😂😂😂 we should just relax only
Any idea how much inside Malaysian Reserves?
He has given a basic lesson in wealth accumulation. Every body can try it.
Reserves = sets aside for future use diligently!
Many people recount that for top businessmen, money is longer the motivation. It is the accomplishment, and the satisfaction that one has done one's best, and the assets are there to mark the successes.
This is the way i see our Gov. Personal wealth is not a motivation for their performances. If it were, our national reserves would have been raided long ago.
If money is not a motivation, then why are they being paid so much, one might ask. Actually, by today's standards, their salaries isn't all that high. Lot's of people make more money than our Ministers, who carry the Nation's burdens on their shoulders. From profitable small private companies to bank CEOs, a couple of million a year isn't all that spectacular.
And i am sure, that as selfless as our Ministers are, they still want to have a sense of financial self worth, and a small inheritance for their children.
I guess some people confuse excellent statesmen for a volunteer charity worker.
Best government bro. You have my votes
another pappy troll? You dont want back your full sum CPF? very rich hor
❤ I love PAP.
Reserves Secretcy. This is a deadly flaw because *Ironically, secretcy is what allows future rogue govt to really Raid the reserves or Hide losses from the peasants*
If govt turns rogue, all the ownself checks will fail.
Impressive strategy! The Gold bar shown at the end just like the money heist movie 😅
During a financial crisis we have reserves to back up or help. Then only we have breakthrough n moves forward and Be elevated!
r u elevated?
Whose money ? LHL 's money ? take med if not feeling well .
Still no answer. What’s the numbers and detail for each.