Tuesday 26 April 2022

Ringgit Malaysia : In the Land of The Blind

is a song from the Grammy winner Rick Springfield's 2018 Snake King album.  For the record,  Springfield has been releasing albums for six decades now.

EXPECT all sorts of snake charmers,  and over night currency experts to come slamming down on  Malaysia.  READ : The Fall of the Ringgit and the doom ahead

In the land of the dead, the dying man is king
You're looking for someone to lead you through this
I'm standing here, let's do this
Throw my hat into the ring
He sentenced me to eternity in exile
Then drew the battle lines with David's sling
He gave every sightless clown a nuclear missile
In the land of the blind the one eyed man is king

HOW much of this criticism is valid ? I can tell you off hand,   NOT much, as  there are other factors in  play such as the total currency in circulation and the amount of currency  you end up printing.

DON'T understand.  We'll let me give you an example. In 2014   RM1 could buy you 30 YEN.  Does that mean we are richer that Japan?  Of  course not.
Currently    RM1 can buy you also about 3O YEN?   What does that tell you ?

Or that on April 26 2013,  One US Dollar will get you 1.23 Sing Dollar ,  but when you fast forward to April 26 2022,  the same dollar will get you more than 1.30 Sing Dollars.

The current batch of business editors,  can look at something  less complex.  VIEW : Singapore Stock Market Cap

THE stock market capitalisation of Singapore was USD 7.52 billion in 2014. as opposed to USD7.68 billion in April 2022.

2015 is a significant year for Singapore, as its founder Mr Lee Kuan Yew passed away.

 NOTICE , apart from a spike in 2017, there has been a downtrend .

Something happened in Singapore in 2017,  something if Mr Lee Kuan Yew was alive,  most likely would not have taken place.

The smart money always rushes out,  even before the iceberg appears.