06 August 2015

Ringgit at the lowest, can we hear some sensible statements from the government and leaders?

When New York money market closes for the day hours ago, ringgit was traded at 3.88 to a USD. This is the worst ringgit performance in spot-market in more than two decades ago. We do not know what comes next and this is a real worrying situation that our country is now going through. 

We are eagerly waiting for the ringgit performance in our local market today and can't bear waiting for the closing time later in the evening. There are strong indications that the ringgit movements is having parallel with the movement of the equity market daily.  There is a clear observation that the international investors are leaving in huge sum and the figure is somewhere around slightly more than US 200 million daily for the past few weeks. Surely this is another worrying situation that needs the government to address this economic hiccups seriously and instantaneously.  

The exit of the foreign funds certainly results in negative consequences to the ringgit as it will subsequently results in heavy selling of the ringgit in exchange of the USD in particular. They are moving their funds to more stable neighbouring bourses in Thailand and Jakarta as well as Singapore. With the unhealthy state of political ambience here the funds are drifting in huge sum to the earlier mentioned bourses and if this state of affair continues the ringgit is quite certain to break the psychological barrier level of 3.90 in short due. It can happen today or it may happen tomorrow or day after. 

Now, how is our government and leaders reacting to this seriously negative economic situation? Can anybody in power say something about this?  Can the whole hordes of leaders take leave from telling lies and issuing ungainly  political statements and focus on this urgent matters for the time being? 

Can we hear something sensible reactions from leaders with authority about this urgently as this situation cannot be continuously ignored. Just stop doing cover-ups on all your wrong doings for a while and pay attention to the sliding economic goings on of the country seriously. 

We want to hear some worthwhile and quantifiable statements from Mr Prime Minister especially as he is also in charged of finance and economy. Can Najib enlighten us a little within these few days?  Don't give the world economic problems as the reason for the fall of our currency. Giving the same reasons may be perceived as just giving excuses. 

6 comments:

tebing tinggi said...

Sensible statement ,

If Ringgit are low , don't use Ringgit ,you should trade in US dollar then you don't see the differences .

Kobou Den makan rumput foree , bilo Den sombelih Den jual dalam Ringgit kat orang kampong Den ,tak payah kiro GST .

Anonymous said...

Tuan,
We have been on auto-pilot for as long as I can remember....Just remind me of a song by The Bee Gees, "Staying alive...."

Anonymous said...

The weak ringgit is the net result of the combinations of :
1.Political instability
2.Heavy corruption
3.unidentified or untraceable money disappearance ( rm2.6 billion )
4.Low public confidence on UMNO leadership.
5.Stupid political leaders
6.low country productivity
7.heavy money flowing out of the country
8.poor financial control by leadership
9.puppet PM
10.Yes men and coward ministers
We have a very strange leadership where the PM is university drop out AND his Deputy is PhD holder but the decision is by drop out.If no positive action taken to remove the PM our country will be GREECE of the EAST...

bruno said...

Currency traders or speculators are like vultures.When the smell of carcasses or blood stench the atmosphere,these herd of vultures move in for the kill.They can only succeed when smart money is fleeing the country.The ringgit has breached the 3.90 level already.Maybe RM4.00 to one USD in the next couple of months?

Let's get it into our smarts and start pondering.Malaysia is not going bankrupt or going to the dogs anytime soon.In a few more months,all this Najib and 1MDB this and that will be forgotten,a thing of the past for the history books.Listen to Mahathir.Malays (Malaysians) tend to have very poor memories.

Now is not the time to panic and sell the ringgit.It is a bit too late to chase the last few cents.For anyone who thinks that the country is not going bankrupt or going to the dogs anytime soon,now is the time to start accumulating the ringgit.The only time to buy is when doomsayers are having a fiesta and when the herd is panicking.

flyer168 said...

"Ringgit at the lowest, can we hear some sensible statements from the government and leaders?"

Salam Tn Aspan,

Just to share this...

Aug 3 2015 - The ringgit will suffer for your 'BLATANTLY STUPID' claims: Slain banker's son warns Najib on MACC 'whitewash' - http://malaysiansmustknowthetruth.blogspot.com/2015/08/the-ringgit-will-suffer-for-your.html

Aug 6 2015 - Ringgit leads Asia declines as reserves seen below US$100 billion - http://malaysiansmustknowthetruth.blogspot.com/2015/08/ringgit-leads-asia-declines-as-reserves.html

"...This powerful series will attempt to not only show the deception that has been taking place, in the past and currently, as many documentaries have covered this topic before.

Rather, this series will attempt to uncover the key components that will hopefully empower each one of us, to regain control of our lives, freedoms, rights and dignity, just by using the same matrix that we're currently living in to our advantage, rather than leaving it in the hands of those who are currently calling the shots.

The NWO will not only be exposed, but hopefully dismantled. Those who keep complaining about the system, but are not willing to educate them selves, so they're able to stand up for them selves, and others, end up empowering the same system, they're trying to reject..."

Very soon Bolehland will see this...

How government enslave you in Usury debt - https://www.youtube.com/watch?v=y9h1iURWkLI

You be the judge.

flyer168 said...

Correct version...

"Ringgit at the lowest, can we hear some sensible statements from the government and leaders?"

Salam Tn Aspan,

Just to share this...

Aug 3 2015 - The ringgit will suffer for your 'BLATANTLY STUPID' claims: Slain banker's son warns Najib on MACC 'whitewash' - http://malaysiansmustknowthetruth.blogspot.com/2015/08/the-ringgit-will-suffer-for-your.html

Aug 6 2015 - Ringgit leads Asia declines as reserves seen below US$100 billion - http://malaysiansmustknowthetruth.blogspot.com/2015/08/ringgit-leads-asia-declines-as-reserves.html

"...This powerful series will attempt to not only show the deception that has been taking place, in the past and currently, as many documentaries have covered this topic before.

Rather, this series will attempt to uncover the key components that will hopefully empower each one of us, to regain control of our lives, freedoms, rights and dignity, just by using the same matrix that we're currently living in to our advantage, rather than leaving it in the hands of those who are currently calling the shots.

The NWO will not only be exposed, but hopefully dismantled. Those who keep complaining about the system, but are not willing to educate them selves, so they're able to stand up for them selves, and others, end up empowering the same system, they're trying to reject..."

Very soon Bolehland will see this...

How government enslave you in Usury debt - https://www.youtube.com/watch?v=y9h1iURWkLI

Usury War on Humanity - https://www.youtube.com/watch?v=FEheU28ea3c

You be the judge.