Azmi Arshad: ".. can't provide proofs on billions missing..."

BNM STATEMENT.... THAT'S ALL YOU'VE GOT?

Azmi Arshad

Zombies and Poops are so desperate that they have to resort to amplifying and spinning the words contained in any statement that does not make the AGC and 1MDB appear in good light.

We can easily observe they pretend to be shocked that foreign media is reporting negatively about the country although we know they are the ones collaborating with the foreign media. They trumpet the statement by the Conference of Rulers (which is what the government also wants) even if it’s purely sentiment. And now they wave in our face BNM’s statement that has nothing to do with the (obviously false) allegations against 1MDB.

That’s because they just can't provide proofs on billions missing, money being siphoned out by Jho Low or anyone, the BSI asset being worthless, loan defaults, money laundering, illegal fund transfers etc.

That’s why they have to move the goal posts.

The BNM statement was nothing about corruption. Nothing about billions missing. Nothing about illegal fund transfers. Nothing about money being siphoned out. Nothing about money laundering. Then what else is there? Well, with the help of a microscope, there might be technical or procedural imperfections, if any at all -- maybe typos in filling up the forms.  

Pathetic.

Royal rebuke exposed more of Zeti's incompetency

The first two para in Bank Negara Malaysia's description of "About the Bank" in their website [read here] explains their role, crystal clear:

The role of Bank Negara Malaysia is to promote monetary and financial stability. This is aimed at providing a conducive environment for the sustainable growth of the Malaysian economy.

Bank Negara Malaysia’s monetary policy stance is to maintain price stability while remaining supportive of growth. Bank Negara Malaysia is also responsible for financial system stability. This is achieved by developing a sound, resilient, progressive and diversified financial sector which serves to support the sectors of the real economy. It also plays an important function in implementing initiatives to deepen and strengthen the financial markets, including the foreign exchange market.

Do the instant noodle foreign exchange experts need further explanation? Those still asking what else BNM can do should refer to their 1999 publication: The Central Bank and the Financial System in Malaysia: A Decade of Change. Probably there are more updated editions.

If it does not add up to 10, come back to a former "agent" for BNM interventions in Forex and Money Market. Happen to spend his semi-retired free time as a blogger these days.  

On the ringgit market, there had been a profit taking activities that saw a temporary breather from the bullish US dollar condition. It could also be a retracement but no intervention reported [read a report here]. The 1 year chart above indicate also a new base forming.

More important, the chart tell us that the country's foreign exchange ringgit market is not stable and not conducive for the sustainable growth of the Malaysian economy. Does it indicate Zeti doing anything?

If still defensive, we can only repeat this quote, "We must not let other people's limited perceptions to define us." At least you should appreciate as to why we are adamant to say Zeti is a smart academics but crumble under pressure.

There is more indicators of her incompetence.

It's still propaganda and potshot to me

Oh, it doesn't matter what they say in the papers
'Cause it's always been the same old scene
There's a new band in town
But you can't get the sound from a story in a magazine...
Aimed at your average teen

Billy Joel, 

It's still rock and roll to me, 

Glass houses (1981)

It's a long break from the last posting. Was in no mood to write. Wanted to observe for a couple of days. So far nothing of substance but sheer noises.

Though there was a statement by the Ruler's Council and followed up by among others, Tan Sri Muhyiddin Yassin, Azmin Ali, Salahuddin Ayub, and other cyber kompang team, it is filled with inconsistencies.

Why 1MDB issue means so much to Ruler's Council over many others similar issues and of similar implications?

If the complains before was of too much propaganda, getting more and more absurd, subtle internal sabotage, and ridiculous Tamil dramatising, this time around there is too much cheap potshot throughout Dato Najib's overseas trip.

It is not worthy to refer it as propaganda but typical unschooled pariah-ganda whose debating ability at best is making accusation of bloggers getting paid and working with Chinese. Whose supporting for the many months without job? 

MUSICAL INTERLUDE: Flirting with disaster

We're flirtin' with disaster, y'all know what I mean
And the way we run our lives, it makes no sense to me
I don't know about yourself or what you want to be, yeah
When we gamble with our time, we choose our destiny

Molly Hatchet (1979)

Deepak's Tamil movie sequel to come

It started with Tun Dr Mahathir's acting out sympathy for a confessed murderer, Sirul.

That didn't catch on because there is no new story. As The Mole reported here, it needs new story to attract attention and keep a propaganda going till it etches into the public psyche.

Then came the Al Jazeera documentary with trumped up accusation of Abdul Razak Baginda as the murderer. Story shifted from Rosmah to Razak now.

A confirmed giver of bribe claimed to be the middleman between Dato Najib and Sirul. On a cheap Nokia-like handphone, it makes no sense for Najib to offer RM15 million to a convicted murderer whose more worried for his life than making lots of money. All this done on SMS?

Sirul, that came from a humble and kampong background, suddenly got a relative in Australia talking in Australian accent and with a name Frank. Laughable ...

However, it is not over. The wayang is far from over. There is a Tamil movie sequel version.

Too much propaganda

When an answer to an enquiry is not accepted or disputed, the onus is on the enquirer to open his or her hand and divulge the proofs.

For seven months and approaching eight, Tun Dr Mahathir has been making his allegations in the form of answer-seeking questions. His response to the answers is to doubt it, and change goalposts with new enquiries arising from the answers.

By right, he is supposed to divulge his proofs. When that failed, then one resigned to God's judgement as RPK wrote here to correct Ummi Hafilda,

If Tun M has all the proofs as one officer bearer of Perkasa and a pentaksub claimed, why is he not divulging his proofs with the next Parliament seating around the corner?

The pentaksub claimed some 8 government and intelligent-related agencies cc-ed a report on 1MDB to Tun M.

Zeti said nothing, did nothing and view nothing

Something forgotten in the previous posting. Tan Sri Zeti Akhtar Aziz did say there will be no pegging. She said the same thing yesterday.

Zeti also said at a conference that Malaysia is not the weakest link in Asia, thus disputing Dato Nazir Abdul Razak's prophet of doom claim Malaysia's bond will turn into junk. Nazir was merely sabotaging the 30-year bond issue which he chicken out from. And, doing the same tantrum after demand for Minister of Finance position rejected. 

Extracting from NST below:

Malaysia is vulnerable given the weaker global growth outlook but it has a diversified economy which will enable it to weather the uncertainties said Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.

But it is not a weak link in the region.

She dismissed a suggestion that neighbouring countries viewed the current weakness in the ringgit and placed Malaysia as the weak link in the region, raising the risk of a contagion (similar to the baht weakness before the Asian Financial Crisis).

TMI chose to highlight the Bond Market. Extract below:

Malaysia's bond market will not collapse as local funds will step in to fill the void and invest in the market, assures Bank Negara Malaysia (BNM) Governor Tan Sri Zeti Akhtar Aziz, amid concerns over the weakening ringgit and economic slowdown. 

Hmmm ... is that an answer? So was her comment on Ringgit.