Send out the clown

Aspan Alias blog posting was given coverage by FMT here in September and his quote "Send out the clown" was used as title. An apt title for this posting too on MPs behaviour in Parliament and the circus surrounding their attempt to do a vote of no confidence.

The questions our friend posed sounded strange. He loves to clown around but his views, though usually lacking in details and heavily rhetorical, are serious concern. However, it is laughable that this Tengku Razaleigh fanatic, but disguised as DAP member, showed concern for Dato Najib and BN.

As far as sending out the clown, there are lots of them, especially his DAP and PKR friends in Parliament.

UMNO and PAS's struggle for ideology, survival and continuance

Before leaving for Kota baru to witness the Fastaqim 60K gathering by PAS, there was a discussion in our WA Group about idealogy.

It arise from a friend complaining on the likes of Dato Zaid Ibrahim and Dato Saifuddin Abdullah that move up in UMNO but left when they can't get things their way.

When in positions, they pretentiously agree to UMNO "idealism" and even abuse their positions. Eventually, they began to lose their common sense and this led him to believe UMNO idealism is dead.

However, we believe UMNO has an objective to it's existence as spelled out in Article 3 of their Constitution but does not uphold to any form of ideology. The so-called Malay nationalism has no guiding political or economic theory as guiding ideology but rely on pragmatism to bow to the wind.

Pragmatism was in-sync with the thinking of a lawyer friend. He felt that ideology does not matter, more important is implementation. In other words, the deliverable.

That discussion was timely as it puts the PAS event in Kota Baru in a different context.

PAS need to remain steadfast

PAS is holding the Fastaqeem Himpunan 60K today in Kota Baru these evening. The event kicks off 3:00 PM with youth events. The main event will be the mass maghrib and special sunat hajat prayers in the evening.

It will be followed by a series of speeches by the new office bearers of PAS with the finale by the Kelantan MB, Dato Ahmad Yaacob, Spiritual Leader, Dato Harun Din, and Presiden Tuan Guru Dato Haji Hadi Awang.

PAS Youth tentative message received from a reliable source revealed outside speakers, as in Tuan Haji Azmi, likely the leader of NGO Teras, Tan Sri Abdul Kadir Sheikh Fadzir, protem President for Ikatan, and PKR Deputy President, Azmin Ali will be talking.

However, these names did not appear in the official schedule received.

Since PKR have officially joined hands with DAP and Pakatan Amanah Nasional (PAN) to launch Pakatan Harapan (PH), they have conceded to the request of DAP to reject PAS. The probable presence of Azmin Ali is a surprise.

Seasoned political analyst with The Malay Mail, Zainal Epi mentioned the same in the October 15th issue.

Hazy sky to hazier politics

Selamat Maal Hijrah.

It was looking clear from one room in Langkawi yesterday. However, scenery last week was bad as it was covered by haze. The first night was in Penang and the whole island "disappeared" from Peninsular sight under the haze.

Pity the tourist that spend money for a holiday but end up staying in for few days. The place we stayed over advised the tourist on what to do and provided room service. It was heard that Langkawi airport was not operating on Monday and Tuesday and only revive operation Wednesday night due to poor visibility.

A friend had his Malindo flight going around in the air for an hour before they could land. Some flights had to return back to KL or from where it came from.  It was quite chaotic. A certain airline just abandoned their passengers without anyone at the airport bother to communicate or assist the stranded passengers.

The state of Malaysian airlines. Some take care of their passengers very well and more than making money for the company. Some only care for money but passengers still come. Yet wish to use Langkawi as one of their hub.

You guess it right.

Zeti continuously slept on the job

Attorney General statement said the report submitted and application for review by BNM was in insufficient to bring a legal case on 1MDB for alleged offense under para (4) of Part 1 of the Fifth Schedule of Exchange Control Act.

In her statement here, Tan Sri Zeti Akhtar Aziz noted AG's sole power under the constitution to make assessment and initiate criminal proceeding. Zeti admitted:

On its part, the Bank concluded that permissions required under the ECA for 1MDB’s investments abroad were obtained based on inaccurate or without complete disclosure of material information relevant to the Bank’s assessment of 1MDB’s applications.

It means Zeti tidor and simply approved 1MDB's application based on as she alleged now as "inaccurate or without complete disclosure" in their assessment to approve in 2009-11.

That is 4-6 years later.

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.