Saturday, 21 July 2018

War Song

Is a 1984 hit for the Culture Club. According to Bloomberg, the war has started and Malaysia is standing straight on the firing line .

Read below :

The currency war has arrived.

So say some of the best and brightest in the $5.1 trillion-per-day foreign-exchange market. U.S. President Donald Trump on Friday accused China and the European Union of “manipulating their currencies and interest rates lower.” The comments came after the yuan plunged to its lowest level in a year, with little sign of China’s central bank intervening to stem the slide. They also follow a decline in the euro this year and add to the calculus that European Central Bank policy makers might need to consider when they meet next week.

As the world’s largest economies open up a new front in their increasingly acrimonious game of brinkmanship, the consequences could be dire -- and ripple far beyond the U.S. and Chinese currencies. Everything from equities to oil to emerging-market assets are in danger of becoming collateral damage as the current global financial order is assailed from Beijing to Washington.

“The real risk is that we have broad-based unravelling of global trade and currency cooperation, and that is not going to be pretty,” said Jens Nordvig, Wall Street’s top-ranked currency strategist for five years running before founding Exante Data LLC in 2016. Trump’s recent rhetoric “is certainly shifting this from a trade war to a currency war.”

China’s shock devaluation of the yuan in 2015 provides a good template for what the contagion might look like, according to Robin Brooks, the chief economist at the Institute of International Finance and the former head currency strategist at Goldman Sachs Group Inc. Risk assets and oil prices would likely tumble as worries about growth arise, hitting currencies of commodity-exporting countries particularly hard -- namely, the Russian ruble, Colombian peso and Malaysian ringgit -- before taking down the rest of Asia.

Friday, 6 July 2018

Shotgun

Is currently riding at number one in the UK charts. The single is by George Ezra.
It seems that the crude oil price is beginning to act like a shotgun pointed on the head of Barisan Nasional and Najib Razak.
It's also a shot gun which Dr Mahathir and Anwar Ibrahim will most likely use to blow away Barisan Nasional and Najib Razak.
Regardless of the politics, if what CNBC reports becomes reality, than this shotgun is good news indeed for Malaysia.
Read part of the report below :
Big oil is sowing the seeds for a 'super-spike' in crude prices above $150, Bernstein warns

Tom DiChristopher | @tdichristopher

Oil prices could top all-time highs as energy companies invest too little money in new production, Bernstein Research warns.The underinvestment could cause a super-spike "potentially much larger than" $150 a barrel.Reinvestment in oil reserves is the lowest in a generation, while the amount of time those reserves will last has shrunk since 2000, according to Bernstein.

Sunday, 1 July 2018

Ringgit 4.04. Enter Sandman

Is the massive massive ever green hit from heavy metal band Metallica.

The sandman is back for the currency but this time, we're not off yet to never never land

You need RM4.04 to buy one US Dollar now. This is good for exporters, but others will rightly tell you that RM4.04 to the dollar, there is a huge mismatch as the Ringgit should be at RM3.80.

That though, is just one side of the story. Now for RM1000 you can now get 3.54 million Indonesian Rupiah. A couple of months ago, perhaps you'd be lucky to get 3 million Indonesian Rupiah.

RM2.86 now can get one Sing dollar, a couple of months ago, you needed RM3 to get one Sing dollar.

Saturday, 30 June 2018

Zahid Hamidi. Girls like you

Is the hit that just won't die by Maroon5 & rapper Cardi B.

Something else, that just won't die is a statement made by Zahid Hamidi that he had met the Arabian who donated US$700 million to Najib.

"Girls like you", will now have to anwser to the law, and it's not going to be pretty.

The star has the story and much more on the newly minted UMNO president from INDONESIA. Read Below :

PETALING JAYA: Datuk Seri Dr Ahmad Zahid Hamidi will have to face graft investigators who will be calling him tomorrow to seek an explanation on the alleged use of funds belonging to a foundation.

Malaysian Anti-Corruption Com­mission officers are also expected to take statements on his purported meeting with a member of Saudi Arabia’s royal family who is said to have donated money to former prime minister Datuk Seri Najib Tun Razak.

Highly-placed sources said the former deputy prime minister will be asked to explain allegations that funds from the foundation were used to pay off credit cards belonging to him and his wife amounting to RM800,000.

Dr Ahmad Zahid is the chairman of the foundation. Records showed the foundation was registered in 1997 and its role is to receive and administer funds to eradicate poverty.

It is understood that sources had found several documents showing payment transactions for him and his wife.

“Investigators will also be asking about a statement which he made about him meeting a Saudi prince. We would like to find out more about this person whom he is said to have met and what transpired during the meeting,” said a source.

On Aug 22, 2015 Dr Ahmad Zahid, who was speaking at the opening of Sri Gading Umno division, said that he had met the wealthy Arab family who donated US$700mil that was channelled into Najib’s personal account.

Friday, 29 June 2018

Coming soon. RISE

Is the smash hit from Jonas Blue with a little help from Jack & Jack.

Looks like Malaysia will also be getting a little help from upstairs, as oil is poised to RISE to US$90 a barrel.

CNBC has the story with a little help from the Bank of America :
soon push oil prices above $90 a barrel, Bank of America Merrill Lynch says

“We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,” Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch, said.On Tuesday, the U.S. demanded that all countries halt imports of Iranian crude from early November. The Trump administration’s hardline position comes as part of a broader push to try to further isolate Tehran both politically and economically.

Thursday, 28 June 2018

Oil. Better now

Is the smash hit from Post Malone.

Oil prices are better now, and this bodes well for Mahathir's new Malaysia.

Market Watch has the story on Oli prices. Read below :

Oil prices climbed Thursday, with the U.S. benchmark again marking its highest level since 2014 in the wake of the biggest weekly decline of the year for domestic crude supplies and ongoing global output risks.

Traders also showed concerns that U.S. sanctions on Iranian oil and production issues at a Canadian oil sands facility will contribute to tighter global supplies.

Natural-gas prices, meanwhile, finished lower after a U.S. government report revealed an upward revision to previously reported weekly stockpiles of the fuel.

On the New York Mercantile Exchange, August West Texas Intermediate crude CLQ8-0.05% added 69 cents, or nearly 1%, to settle at $73.45 a barrel, for its highest finish since Nov. 26, 2014.

Thursday, 21 June 2018

Lim Guan Eng. Nice for what

Is the smash hit from drake, currently sitting at number one on the US Top 40.

Some politicians are blaming Lim Guan Eng for the slide in the stock market, supposedly for exposing the people who stole Malaysia's money.

Yes, the stock market is falling, but Lim Guan Eng need to be nice for what?

Malaysia's economy is not run by the stock market and the Malaysian composite index is so artificial because 70 per cent of the float is owned by government linked entities such as EPF and PNB.

Obviously, the government has made a decision not to support the market heavily, in the face of foreign money exiting our equity market.

Be nice for what to foreign funds existing the markets, considering that oil prices are now at USD 80 per barrel and look to hit USD100 before year end.

The Malaysian economy should do better, so be nice for what to stock market speculators?

By the way, very little foreign money has exited from the bond market, meaning the serious money is still here in Kuala Lumpur.