atans1

Talking cock about Return Our CPF

In CPF, GIC, Temasek on 04/06/2017 at 10:27 am

Cybernuts, from Mad Dog Chee to Philip Ang, regularly point out GIC’s and Temasek’s “losses” as evidence for the real reason why the PAP administration intriduced the “Minimum sum” scheme and CPF Life: Temasek, GIC lost money, resulting in a shortfall of funds if CPF can be withdrawn at 55.

I’ll quote two of the heloos of the cybernuts to show that the state can refund everyone’s outstanding CPF balance.

Uncle Leong, of fake analysis fame, points out

Amount due to CPF members is $324.2 billion

According to the Department of Statistics’ Monthly Digest of Statistics – the Amount Due to (CPF) Members is $324.2 billion as of October, 2016.

(Yes I double checked to confirm that he wasn’t faking this.)

So does state have the $ to refund $325bn ++?

Chris K (no cybernut and an unwilling hero of the cybernuts) recently pointed out on FB that looking at reserves as unencumbered assets – i.e. assets minus liabilities or net assets, a term used by Tharman and in the constitution when calculating the net investment return contribution, the ball park numbers are

MAS: $40bn,

Temasek: $220bn,

GIC: $290bn

And this excludes the past reserves still sitting in the various Fifth Schedule entities like EDB and etc LTA.

Still think got no money to repay yr CPF?

So in an alternative universe when Dr Chee becomes PM later today, with a two-thirds majority in parly, he can tell president Yaacob to allow him to draw on the reserves and return our CPF. He will tell President Halimah

I have the mandate of the people. What do u have? How many S’poreans voted for u? None because u won by default.”

Sign or I’ll pee on u and let the mob into the Istana.

 

She signs and when everyone gets their money back, the lies the cybernuts tell will be exposed.

 

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  1. You forgot one thing, Those numbers are only the unencumbered assets. For CPF you need to add in the encumbered assets relating to the liabilities to the Government Securities Fund. This means not only are the reserves in the strictest definition already more than covered the amounts owing to CPF but this debt to CPF members are already covered by the encumbered assets.

    • I wanted to keep things simple. Nuts say reserves our CPF money. Well reserves more than adequate to pay u back $ for$.

      Sometimes being accurate makes things complicated. Might do one to point out that the bonds have reserves backing them 100%.

  2. Nothing wrong for Chee and Ang to ask as citizens of this country. If PAP really want to avoid people speculating and to give confidence to the people, publish the full financial statements of our reserves every year just like Norway did. Otherwise, as long as you don’t publish, people will continue to think that you have something to hide. So, don’t blame Chee and Ang.

  3. basically, all these oppsition members & supporters have nothing better to do with their worthless time.

  4. No worries man. Govt can simply print another $350B to pay back all CPF holders. Yeah, maybe you need to hand over a $10 bill for 1 peanut. But hey at least you got the correct number of bills in your pocket or bank account. Will be funny to see people changing their SGD into MYR to “preserve value”.

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