KUALA LUMPUR, July 15 — The people in Prime Minister Datuk Seri Najib Razak’s inner circle;
Tan Sri Peter Sondakh
Sondakh advises Najib on Indonesia.
He came into contact with Najib when he was negotiating to sell a controlling interest in his telecommunications group, Excelcomindo Pratama, to Malaysia’s national telecommunications company Telekom Malaysia in 2004.
Flush with cash from the sale of his telecommunications group, Sondakh, now 57, acquired hotels in Malaysia, including the Sheraton Imperial. The latter was owned by a financially troubled unit controlled by Telekom Malaysia’s parent company Khazanah Holdings, the country’s state-owned investment agency.
Since then, Sondakh has emerged as an informal personal adviser to Najib on matters related to Indonesia.
Omar Mustapha
Omar was Najib’s aide when he was DPM.
The one-time special assistant to Najib owns a business consultancy called Ethos & Co.
Omar, who is 38 years old, also has links with Sondakh.
The two struck up a relationship several years ago when Omar was assigned by Najib, then Deputy PM, to build a network in Indonesia, which was identified as a potential investment destination for Malaysian companies, particularly state controlled enterprises.
Businessmen who know Omar say that he is being tapped for strategic advice.
He is also said to be the architect of the Premier’s “1 Malaysia” slogan — a call for a more united Malaysia, which has become the central theme of Najib’s first 100 days in office.
But Omar, who graduated from Oxford, has been ensnared in a controversy in recent weeks after the board of the national oil corporation Petronas rebuffed a proposal by Najib to appoint his young aide as a director.
Bankers and lawyers familiar with the situation say that the board of directors of Petronas opposed Omar’s position because he failed to honour his scholarship agreement with the oil corporation after it financed his studies in Britain.
After graduating in the mid-1990s, he worked briefly in Petronas and another government-linked corporation before joining consultancy firm McKinsey.
He left it to set up Ethos in early 2002 with several friends, and two years later was appointed Najib’s special officer in the DPM’s Office.
Omar did not respond to requests for comment.
Siew Ka Wei
Siew controls several public-listed entities.
The businessman and Datuk Mohamed Al-Amin Abdul Majid, a senior politician from the ruling Umno, are said to be close to completing a takeover of a 70 per cent interest in a private company that owns the Malay Mail.
Political handovers in Malaysia often result in changes in the top positions in the country’s mainstream media organisations and this is one change on the cards.
The lanky, cigar-chomping Datuk Siew, 53, is a controlling shareholder of several public-listed entities such as Nylex and Ancom.
Al-Amin, who is also 53, is a board member of both firms.
Tan Sri Tan Kay Hock
Tan is said to be a golf buddy of the PM.
He is the low-profile controlling shareholder of Johan Holdings, a public-listed investment holding company, and said to be a golf buddy of Najib’s.
The Financial Times had reported that Tan, 61, was the owner of the 607ha Guiana Island, which is now at the centre of a fraud case brought by the United States authorities against Texan billionaire businessman Allen Stanford.
Joe Low
Another low-profile businessman, he was a key architect of a multibillion-ringgit sovereign wealth fund established by the state of Terengganu.
The fund, called the Terengganu Investment Authority (TIA), has sparked controversy because it will be created using borrowed money and not existing capital held by the state. It will raise capital from a RM5 billion bond issue, which will be guaranteed by the Malaysian government.
Little is known of Penang-born Low, who a TIA official said is an adviser to Malaysia’s King, Sultan Mizan, and has close ties with several Middle East investment funds. — The Straits Times
Tuesday, November 17, 2009
Thursday, November 05, 2009
India and China as the new economic powerhouses, taking over from US and UK?
What Is India and China Doing That Malaysia Has Neglected To Do? - By Matthias Chang (5/11/09)
By Matthias Chang
Wednesday, 04 November 2009 21:44
On 27th August 2009 I wrote an article, “An Appeal To Malaysia’s Prime Minister Cum Finance Minister – Re-Examine the Country’s Strategy For Foreign Reserves”, to urge our Prime Minister to examine the critical need to diversify our foreign reserves, specifically to increase our holdings of gold.
My call was unheeded.
I drew the attention of our Prime Minister to the 14th August 2009 Central Banks Gold Agreement (CBGA) specifically:
“Gold will remain an important element of global monetary reserves.”
• The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted program of sales over a period of five years, starting on 27th September 2009, immediately after the end of the previous agreement. Annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2000 tonnes.
• The signatories recognize the intention of the IMF to sell 403 tonnes of gold and noted that such sales can be accommodated within the above ceilings.
• This agreement will be reviewed after five years.
“It is significant to note that the IMF intends to sell 403 tonnes of gold and it is a no-brainer to venture a guess as to who will be the main buyer. China is desperate to unload its US toilet papers for gold and it has to be done carefully, as such sales ‘will be accommodated within the above ceilings.’ ”
I also drew the attention of the Prime Minister to the following data:
“The current situation of key European Central Banks’ gold reserves as a percentage of their total reserves are as follows:
France: 73%
Germany: 69.5%
Italy: 66.1%
Netherlands: 61.4%
Switzerland: 37.1%
In contrast, the key Asian Central Banks’ and Russia’s gold reserves are as follows:
Russia: 4%
India: 4%
Taiwan: 3.8%
Japan: 2.1%
China: 1.8%
Given this state of affairs, any sales by European central banks under the 3rd CBGA will not depress gold prices, as it will be inevitable for the underweighted Asian central banks to pick them up so as to bolster their miniscule reserves in gold. For more data, please reference World Gold Council.”
China has taken heed of the need to bolster her strategic reserves of gold. She has in fact called upon her citizens to accumulate gold!
Yesterday, Bloomberg reported that, “Gold jumped to a record after India's central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation about more official purchases… The $6.7 billion sale to the Reserve Bank of India is 'the biggest single central-bank purchase that we know about for at least 30 years in such a short period,' said Timothy Green, author of 'The Ages of Gold.' 'The only comparable event was the U.S.'s steady purchases in the 1930s and 1940s.'”
What is significant is that India has taken up 50% of the IMF‘s allocation of 403 tonnes.
India has now come on board to the need to diversify their foreign reserves.
I believe that in the months to come, other Asian central banks will follow this lead.
I hope Malaysia will not remain in a state of denial.
And once again, I have shown to be ahead of the curve. By the first quarter of 2010, we will witness the 2nd wave of the global financial tsunami. The hoarding of cash by the global big banks will not be enough to stem the tide.
The 2nd global financial tsunami will be bigger and more devastating than the first. Be forewarned.
Malaysia’s recent budget has not addressed the fundamental issues.
By Matthias Chang
Wednesday, 04 November 2009 21:44
On 27th August 2009 I wrote an article, “An Appeal To Malaysia’s Prime Minister Cum Finance Minister – Re-Examine the Country’s Strategy For Foreign Reserves”, to urge our Prime Minister to examine the critical need to diversify our foreign reserves, specifically to increase our holdings of gold.
My call was unheeded.
I drew the attention of our Prime Minister to the 14th August 2009 Central Banks Gold Agreement (CBGA) specifically:
“Gold will remain an important element of global monetary reserves.”
• The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted program of sales over a period of five years, starting on 27th September 2009, immediately after the end of the previous agreement. Annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2000 tonnes.
• The signatories recognize the intention of the IMF to sell 403 tonnes of gold and noted that such sales can be accommodated within the above ceilings.
• This agreement will be reviewed after five years.
“It is significant to note that the IMF intends to sell 403 tonnes of gold and it is a no-brainer to venture a guess as to who will be the main buyer. China is desperate to unload its US toilet papers for gold and it has to be done carefully, as such sales ‘will be accommodated within the above ceilings.’ ”
I also drew the attention of the Prime Minister to the following data:
“The current situation of key European Central Banks’ gold reserves as a percentage of their total reserves are as follows:
France: 73%
Germany: 69.5%
Italy: 66.1%
Netherlands: 61.4%
Switzerland: 37.1%
In contrast, the key Asian Central Banks’ and Russia’s gold reserves are as follows:
Russia: 4%
India: 4%
Taiwan: 3.8%
Japan: 2.1%
China: 1.8%
Given this state of affairs, any sales by European central banks under the 3rd CBGA will not depress gold prices, as it will be inevitable for the underweighted Asian central banks to pick them up so as to bolster their miniscule reserves in gold. For more data, please reference World Gold Council.”
China has taken heed of the need to bolster her strategic reserves of gold. She has in fact called upon her citizens to accumulate gold!
Yesterday, Bloomberg reported that, “Gold jumped to a record after India's central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation about more official purchases… The $6.7 billion sale to the Reserve Bank of India is 'the biggest single central-bank purchase that we know about for at least 30 years in such a short period,' said Timothy Green, author of 'The Ages of Gold.' 'The only comparable event was the U.S.'s steady purchases in the 1930s and 1940s.'”
What is significant is that India has taken up 50% of the IMF‘s allocation of 403 tonnes.
India has now come on board to the need to diversify their foreign reserves.
I believe that in the months to come, other Asian central banks will follow this lead.
I hope Malaysia will not remain in a state of denial.
And once again, I have shown to be ahead of the curve. By the first quarter of 2010, we will witness the 2nd wave of the global financial tsunami. The hoarding of cash by the global big banks will not be enough to stem the tide.
The 2nd global financial tsunami will be bigger and more devastating than the first. Be forewarned.
Malaysia’s recent budget has not addressed the fundamental issues.
Monday, November 02, 2009
Asian Renaissance Generation Wave
Generasi gelombang kebangkitan Asia
Oleh: Eekmal Ahmad
NOV 2 — Dari segala deretan memori, izinkan saya kongsi bersama cebisan ini. Semuanya bermula pada tahun 1999. Berbekalkan duit dari PTPTN yang saya simpan berdikit-dikit, akhirnya tertunailah hasrat untuk memiliki sebuah motosikal Honda model EX5. Ianya memudahkan untuk saya bergerak ke sana ke mari, juga untuk aktiviti pergerakan mahasiswa Islam di Universiti Kebangsaan Malaysia. Motosikal itu kiranya dibenarkan untuk berbicara, pastinya banyak cerita saya terbongkar, yang manis, pahit, gembira, ketawa dan menangis.
Selepas melalui beberapa peringkat tarbiyah, bersenjatakan motosikal Honda itu, saya dan rakan-rakan sering ke Kuala Lumpur untuk menyertai demonstrasi. Baik demonstrasi tersebut menyanggah kewujudan sebuah kerajaan yang diterajui Umno-Barisan Nasional ataupun membantah aktiviti dan acara, yang pada pendapat kami bertentangan dengan hukum syarak. Negara Islam wajib ditegakkan, dan Datuk Seri Anwar Ibrahim yang masih merengkok dalam penjara bukanlah tokoh yang wajar dipercayai. Kecurigaan ini, mengikut perkiraan saya, adalah mirip kecurigaan al Ikhwan al Muslimoon terhadap Gammal Abdel Naser. Apa yang pasti kami sentiasa bergelora, idealistik dan yakin, kemenangan pada suatu hari milik kami.
Di pertengahan jalan, saya tertewas, hilang pertimbangan, lalu menamatkan pengajian undang-undang saya di UKM. Beberapa ketika, saya pulang ke Alor Star, tetap setia bersama motosikal EX5. Buat menenangkan hati, sering saya berulang alik, sudah tentu bersama motosikal setia, ke pondok Dehrang mendengar kuliah Ustaz Nuruddin Al Banjari dan Ustaz Fahmi Zam Zam. Memperoleh ketenangan dan sokongan ibu bapa, permohonan memasuki kuliah undang-undang UiTM diajukan. Tahun 2002, ianya bermula kembali. Saya ke Shah Alam menjadi pelajar fakulti undang-undang walaupun minat untuk menjadi seorang peguam sudahpun padam.
Ketika masa “pemulihan” di Alor Star, oleh kerana kemaruk mendapatkan bahan bacaan, Berita Keadilan yang dipimpin Khalid Jaafar adalah antara bacaan wajib selain dari kitab-kitab fiqh dan Tafsir al Azhar. Minat itu saya teruskan ketika di Shah Alam. Ligat saya mengelilingi bandar tersebut mencari Berita Keadilan buat menghilangkan ketagihan. Tulisan dan wacana yang dicetus menggasak saya memikirkan kembali beberapa keyakinan serta sikap perjuangan. Saya mulai menaruh minat untuk mengenali Anwar Ibrahim. Tapi melalui apa? Makanya berbekalkan duit, sekitar RM30 dan motosikal itu, saya mencapai nashkah “Asian Renaissance,” karya versi Inggeris mantan timbalan perdana menteri, yang dihumban ke dalam penjara, di toko buku berdekatan. Dan buku itu menemani saya siang dan malam.
Secara tiba-tiba perasaan cemburu menyerang saya. Bibliografinya mengejek-ngejek saya. Senarai nama seperti Syed Naguib al Attas, Syed Hussein al Attas, Karl Popper, Tagore, T.S. Eliot, Sutan Takdir dan Dead European Males lainnya menerbitkan resah berpanjangan. Perpustakaan diserbu, mencari buku-buku yang ditulis oleh mereka semua dengan nafsu yang bergelojak. Kerap kali pemburuan berakhir dengan kekecewaan dan sumpah seranah. Misalnya “The Open Society and Its Enemies” karya Karl Popper, pemikir dari Vienna, langsung tidak terdapat di rak-rak buku perpustakaan. Bagi saya ianya adalah antara mehnah dan tribulasi yang paling besar pernah saya hadapi.
Perlahan-lahan gagasan Nahdah Asia Anwar Ibrahim menjelma. Meratib saya mengingati di antara pesan Gelombang Kebangkitan Asia (judul versi Melayu); “the cultivation of good taste takes the place of mediocrity and philistinism.” Mengunyah bab demi bab seperti Keunggulan Budaya, Ekonomi Manusiawi, Timur dan Barat serta Demokrasi dan Masyarakat Madani, merubah saya menjadi insan yang yakin. Kini saya menyendiri ber-”usrah” dengan membedah dan menghadam satu demi satu faham yang terkandung di dalam Gelombang Kebangkitan Asia. Ke “Melayu”-an dan Ke-“Islam”-an tidak menghalang saya dari menerobos tembok khusus intelektualisme yang selalu dikaitkan dengan golongan kelas menengah dan tinggi. Akar budaya dan juga agama menjadi jendela meneropong Islam dalam Sejarah dan Kebudayaan Melayu, Hamlet, John Keats, perdebatan seputar sekularisme, Ibsen dan FA Hayek.
Gelombang mempertemukan saya dengan sekelompok anak muda ataupun yang berhati muda. Dengan motosikal EX5 itulah saya berulang alik dari Shah Alam ke Telawi, meredah kedinginan malam dan kehangatan petang. Kami yang datang baik dari utara, timur dan selatan tanah air, membentuk komuniti kecil para seniman, penulis, wartawan dan pelajar. Akal, tradisi, kebebasan, moraliti, budaya, kuku besi dan agama menjadi tema perbincangan dan renungan. Usrah baru saya terdiri dari mereka yang fanatik berbahasa Melayu, sering menyeru agar menguasai, bukan sahaja bahasa Inggeris, bahkan bahasa Jerman, Mandarin, Pali dan Greek kuno serta menyanggah ketuanan perkauman yang meminggirkan etnik lainnya.
Rasa rendah diri disingkir jauh-jauh. Syarahan Karamah Insaniah, Pico della Mirandola bahawa “tiada yang lebih dikagumi selain manusia” bagaikan petir dan guruh yang berdentum di langit. Bingit dan mengejutkan. Gelombang memaksa sekaligus meyakinkan saya bahawa dikotomi di antara timur dan barat semakin kabur. Manakala Kebebasan dari regim yang tirani dan mengangkat martabat Budaya bangsa dari kelaihan berpanjangan merupakan tanggungjawab generasi perubahan; Generasi Gelombang Kebangkitan Asia.
Mulai saat itu saya mengenali, ataupun dengan lebih tepatnya, cuba mengenali sosok Anwar Ibrahim. Sudah tentu tidak sepenuhnya. Akan tetapi saya tidak perlu untuk bersekolah dengannya ataupun mengaku mengenali beliau selama berpuluh-puluh tahun. Cukup buat saya, menyedari serta memahami gagasan-gagasan beliau. Tidak perlu untuk membandingkan Anwar Ibrahim dengan tokoh-tokoh silam seperti Dr Burhanuddin al Helmy, Datuk Onn atau pun Alexander dari Macedonia itu!
Anwar adalah Anwar. Beliau melakar Gagasan Gelombang dan terbukti ampuh meroboh bongkah-bongkah Nilai-nilai Asia anutan beberapa pemimpin tua yang gusar legasi mereka akan lenyap dimamah keyakinan baru. Mentaliti pasca kolonialisme sudah tidak relevan. Sikap secara borongan membenci barat hanya menjadi alasan buat kebanyakan diktator memungkinkan kezaliman di tanah air sendiri. Manakala kita mengkritik pusat tahanan Guantanamo, pada ketika yang sama, negara ini juga memiliki pusat tahanan versinya sendiri di Kamunting.
Sekian lama kita berhadapan dengan politik hipokrasi. Dasar yang menguntungkan sebilangan kecil samada hanya untuk kepuasan elit pemerintah bumiputera ataupun tauke tauke kaya seharusnya ditolak tanpa ragu. Tidak ada justifikasi munasabah untuk kita menerima dalih membantu bangsa sedangkan hanya dua tiga kerat pimpinan barisan nasional sahaja yang kaya raya. Itulah manifestasi tertinggi politik perkauman sempit. Hakikatnya ianya cerita lama yang sudah basi.
Rakyat Malaysia terutamanya anak muda dari segenap lapisan masyarakat, merentasi sempadan agama dan etnik mempunyai kesedaran yang lebih baik dari apa yang disangkakan oleh sesetengah pihak. Pembentukan politik baru sesungguhnya tidak terelakkan. Acuan baru itu akan mengambil tempat, lalu bersaing dan mengalahkan politik lama yang bergantung kepada ketakutan, kecurigaan dan pemisahan antara kaum di negara ini. Kezaliman bukanlah hak milik mana-mana kaum, dan Keadilan adalah untuk semua.
Syaratnya ialah untuk terus beriltizam dengan Perubahan yang mengakar kepada hasrat untuk memelihara keluhuran perlembagaan, membanteras rasuah sehingga ke akar umbi, menjamin kedaulatan undang-undang, pengukuhan masyarakat demokratik dan berakhirnya politik perkauman.
Abad baru akan menjadi saksi, warisan pemerintah yang sekian lama “tahu apa yang terbaik untuk kita” sudah berakhir. Generasi Gelombang adalah kekuatan anak muda, suaranya, suara anak muda dan ianya arus deras yang mampu merubah lanskap politik serta sejarah negara ini. Anak muda mahukan sesuatu yang menyegarkan. Bahasa politik parokial perlu disisihkan. Perubahan yang luhur akan melibatkan semua untuk berbicara. Conversational Democracy adalah ciri penting penciptaan sebuah negara demokratik. Perdebatan dan wacana tidak menjurus kepada ungkapan seperti “pengkhianat bangsa” dan “agen yahudi.”
Generasi Gelombang tidak perlu menjadi apologetik dan mesti berani untuk mengaku bahawa bahasa demokrasi, kebebasan, keunggulan budaya dan pertumbuhan ekonomi yang mampan bukanlah monopoli mana-mana peradaban. Berbekalkan semangat baru, akan kita buktikan ungkapan Kipling bahawa, “There is too much in Asia and it is too old” adalah tidak benar sama sekali. Generasi Gelombang perlu merebut peluang mencipta dan menempa haluan baru buat negara ini.
Namun ini tidak bererti kita berhasrat mencipta yang baru dan terlepas dari pesan-pesan leluhur mahupun tradisi. Penggalian teks-teks klasik bagi saya menemukan kita dengan anjuran dasar untuk mengolah pandang dunia yang segar dan bertepatan dengan semangat zaman. Kebijaksanaan Bendahara Paduka Raja untuk menderhakai perintah Sultan misalnya, menyelamatkan Melaka dari hangus diberengus Jebat. Penulis Hikayat Hang Tuah menganyam cerita dan peri membiarkan pembacanya menilai di antara kesetiaan Hang Tuah, keterlanjuran Jebat, sikap tanpa usul periksa Sultan Melaka dan penderhakaan Bendahara Paduka Raja. Ternyata akhirnya penderhakaan Bendahara jualah yang menyelamatkan rakyat serta kerajaan.
Saya menyanggah beberapa telahan kononnya teks klasik ini menganjurkan taat setia tidak berbelah bahagi kepada pemerintah. Saya juga menolak untuk mengagung-agungkan perbuatan Jebat. Hikayat Hang Tuah adalah antara karya yang menampilkan kejelikan pemerintahan tanpa batasan. Ianya menjadi iktibar kepada kita untuk mencipta sebuah negara yang mempunyai batas-batas jelas untuk melindungi hak rakyat dari digasir pemimpinnya. Ini menguatkan hujah kita untuk menuntut sebuah negara dan masyarakat yang demokratik.
Kecurigaan di antara agama juga perlu dikikis. Islam tidak sewajarnya dipandang sebagai sebuah agama yang kuno, mandul daya intelektualismenya dan zalim semata-mata. Kegagalan penguasa dan sesetengah pemikir Melayu-Islam untuk mengangkat harakat agama adalah antara punca kecurigaan ini bertunas. Keilmuan Islam dan kekayaan tradisi kepustakaan Melayu dibiarkan usang kerana kebanyakan mereka lebih berminat untuk mengejar kerusi-kerusi empuk di institusi pengajian tinggi dan terpasung kerdil menjadi jiwa hamba. Manakala taraf keilmuan dan intelektualisme jauh merosot tatkala wacana-wacana falsafah, ekonomi dan agama yang rancak di luar negara langsung tidak dipedulikan. Kita masih menanti siapakah bakal mampu menandingi Syed Muhammad Naguib al Attas dan Syed Hussein al Attas.
Pilihanraya umum ke 12 menyaksikan Anwar Ibrahim dengan dokongan rakyat berbilang kaum dan agama, berjaya memimpin permuafakatan politik yang berjaya menafikan majoriti dua pertiga barisan nasional. Berbekalkan mesej Perubahan, permuafakatan tersebut berjaya menambat jiwa raga para pengundi. Perubahan secara mendadak menjadi komoditi hangat di pasaran. Saya rasa ini lah kali pertama dalam sejarah moden negara, rakyat Malaysia berada di kedudukan untuk menentukan “harga” dan “tawaran” siapa yang terbaik.
Inilah juga masanya buat kita, Generasi Gelombang menawarkan pakej yang terbaik untuk rakyat. Jelmakan keyakinan kita terhadap sebuah negara madani yang berpaksikan masyarakat demokratik, keluhuran perlembagaan, keunggulan budaya dan kemakmuran ekonomi. Jelaskan kepada rakyat mereka berhak kepada yang terbaik, makanya menjadi tanggungjawab kita untuk menjadi yang terbaik. Sudah tiba masanya kita menjayakan cita-cita “the cultivation of good taste take the place of mediocrity and philistinism.”
Eekmal Ahmad adalah kakitangan Pejabat Datuk Seri Anwar Ibrahim dan sering mendengar ulasan majalah Monocole, Wired dan Technological Review dari adik lelakinya.
Oleh: Eekmal Ahmad
NOV 2 — Dari segala deretan memori, izinkan saya kongsi bersama cebisan ini. Semuanya bermula pada tahun 1999. Berbekalkan duit dari PTPTN yang saya simpan berdikit-dikit, akhirnya tertunailah hasrat untuk memiliki sebuah motosikal Honda model EX5. Ianya memudahkan untuk saya bergerak ke sana ke mari, juga untuk aktiviti pergerakan mahasiswa Islam di Universiti Kebangsaan Malaysia. Motosikal itu kiranya dibenarkan untuk berbicara, pastinya banyak cerita saya terbongkar, yang manis, pahit, gembira, ketawa dan menangis.
Selepas melalui beberapa peringkat tarbiyah, bersenjatakan motosikal Honda itu, saya dan rakan-rakan sering ke Kuala Lumpur untuk menyertai demonstrasi. Baik demonstrasi tersebut menyanggah kewujudan sebuah kerajaan yang diterajui Umno-Barisan Nasional ataupun membantah aktiviti dan acara, yang pada pendapat kami bertentangan dengan hukum syarak. Negara Islam wajib ditegakkan, dan Datuk Seri Anwar Ibrahim yang masih merengkok dalam penjara bukanlah tokoh yang wajar dipercayai. Kecurigaan ini, mengikut perkiraan saya, adalah mirip kecurigaan al Ikhwan al Muslimoon terhadap Gammal Abdel Naser. Apa yang pasti kami sentiasa bergelora, idealistik dan yakin, kemenangan pada suatu hari milik kami.
Di pertengahan jalan, saya tertewas, hilang pertimbangan, lalu menamatkan pengajian undang-undang saya di UKM. Beberapa ketika, saya pulang ke Alor Star, tetap setia bersama motosikal EX5. Buat menenangkan hati, sering saya berulang alik, sudah tentu bersama motosikal setia, ke pondok Dehrang mendengar kuliah Ustaz Nuruddin Al Banjari dan Ustaz Fahmi Zam Zam. Memperoleh ketenangan dan sokongan ibu bapa, permohonan memasuki kuliah undang-undang UiTM diajukan. Tahun 2002, ianya bermula kembali. Saya ke Shah Alam menjadi pelajar fakulti undang-undang walaupun minat untuk menjadi seorang peguam sudahpun padam.
Ketika masa “pemulihan” di Alor Star, oleh kerana kemaruk mendapatkan bahan bacaan, Berita Keadilan yang dipimpin Khalid Jaafar adalah antara bacaan wajib selain dari kitab-kitab fiqh dan Tafsir al Azhar. Minat itu saya teruskan ketika di Shah Alam. Ligat saya mengelilingi bandar tersebut mencari Berita Keadilan buat menghilangkan ketagihan. Tulisan dan wacana yang dicetus menggasak saya memikirkan kembali beberapa keyakinan serta sikap perjuangan. Saya mulai menaruh minat untuk mengenali Anwar Ibrahim. Tapi melalui apa? Makanya berbekalkan duit, sekitar RM30 dan motosikal itu, saya mencapai nashkah “Asian Renaissance,” karya versi Inggeris mantan timbalan perdana menteri, yang dihumban ke dalam penjara, di toko buku berdekatan. Dan buku itu menemani saya siang dan malam.
Secara tiba-tiba perasaan cemburu menyerang saya. Bibliografinya mengejek-ngejek saya. Senarai nama seperti Syed Naguib al Attas, Syed Hussein al Attas, Karl Popper, Tagore, T.S. Eliot, Sutan Takdir dan Dead European Males lainnya menerbitkan resah berpanjangan. Perpustakaan diserbu, mencari buku-buku yang ditulis oleh mereka semua dengan nafsu yang bergelojak. Kerap kali pemburuan berakhir dengan kekecewaan dan sumpah seranah. Misalnya “The Open Society and Its Enemies” karya Karl Popper, pemikir dari Vienna, langsung tidak terdapat di rak-rak buku perpustakaan. Bagi saya ianya adalah antara mehnah dan tribulasi yang paling besar pernah saya hadapi.
Perlahan-lahan gagasan Nahdah Asia Anwar Ibrahim menjelma. Meratib saya mengingati di antara pesan Gelombang Kebangkitan Asia (judul versi Melayu); “the cultivation of good taste takes the place of mediocrity and philistinism.” Mengunyah bab demi bab seperti Keunggulan Budaya, Ekonomi Manusiawi, Timur dan Barat serta Demokrasi dan Masyarakat Madani, merubah saya menjadi insan yang yakin. Kini saya menyendiri ber-”usrah” dengan membedah dan menghadam satu demi satu faham yang terkandung di dalam Gelombang Kebangkitan Asia. Ke “Melayu”-an dan Ke-“Islam”-an tidak menghalang saya dari menerobos tembok khusus intelektualisme yang selalu dikaitkan dengan golongan kelas menengah dan tinggi. Akar budaya dan juga agama menjadi jendela meneropong Islam dalam Sejarah dan Kebudayaan Melayu, Hamlet, John Keats, perdebatan seputar sekularisme, Ibsen dan FA Hayek.
Gelombang mempertemukan saya dengan sekelompok anak muda ataupun yang berhati muda. Dengan motosikal EX5 itulah saya berulang alik dari Shah Alam ke Telawi, meredah kedinginan malam dan kehangatan petang. Kami yang datang baik dari utara, timur dan selatan tanah air, membentuk komuniti kecil para seniman, penulis, wartawan dan pelajar. Akal, tradisi, kebebasan, moraliti, budaya, kuku besi dan agama menjadi tema perbincangan dan renungan. Usrah baru saya terdiri dari mereka yang fanatik berbahasa Melayu, sering menyeru agar menguasai, bukan sahaja bahasa Inggeris, bahkan bahasa Jerman, Mandarin, Pali dan Greek kuno serta menyanggah ketuanan perkauman yang meminggirkan etnik lainnya.
Rasa rendah diri disingkir jauh-jauh. Syarahan Karamah Insaniah, Pico della Mirandola bahawa “tiada yang lebih dikagumi selain manusia” bagaikan petir dan guruh yang berdentum di langit. Bingit dan mengejutkan. Gelombang memaksa sekaligus meyakinkan saya bahawa dikotomi di antara timur dan barat semakin kabur. Manakala Kebebasan dari regim yang tirani dan mengangkat martabat Budaya bangsa dari kelaihan berpanjangan merupakan tanggungjawab generasi perubahan; Generasi Gelombang Kebangkitan Asia.
Mulai saat itu saya mengenali, ataupun dengan lebih tepatnya, cuba mengenali sosok Anwar Ibrahim. Sudah tentu tidak sepenuhnya. Akan tetapi saya tidak perlu untuk bersekolah dengannya ataupun mengaku mengenali beliau selama berpuluh-puluh tahun. Cukup buat saya, menyedari serta memahami gagasan-gagasan beliau. Tidak perlu untuk membandingkan Anwar Ibrahim dengan tokoh-tokoh silam seperti Dr Burhanuddin al Helmy, Datuk Onn atau pun Alexander dari Macedonia itu!
Anwar adalah Anwar. Beliau melakar Gagasan Gelombang dan terbukti ampuh meroboh bongkah-bongkah Nilai-nilai Asia anutan beberapa pemimpin tua yang gusar legasi mereka akan lenyap dimamah keyakinan baru. Mentaliti pasca kolonialisme sudah tidak relevan. Sikap secara borongan membenci barat hanya menjadi alasan buat kebanyakan diktator memungkinkan kezaliman di tanah air sendiri. Manakala kita mengkritik pusat tahanan Guantanamo, pada ketika yang sama, negara ini juga memiliki pusat tahanan versinya sendiri di Kamunting.
Sekian lama kita berhadapan dengan politik hipokrasi. Dasar yang menguntungkan sebilangan kecil samada hanya untuk kepuasan elit pemerintah bumiputera ataupun tauke tauke kaya seharusnya ditolak tanpa ragu. Tidak ada justifikasi munasabah untuk kita menerima dalih membantu bangsa sedangkan hanya dua tiga kerat pimpinan barisan nasional sahaja yang kaya raya. Itulah manifestasi tertinggi politik perkauman sempit. Hakikatnya ianya cerita lama yang sudah basi.
Rakyat Malaysia terutamanya anak muda dari segenap lapisan masyarakat, merentasi sempadan agama dan etnik mempunyai kesedaran yang lebih baik dari apa yang disangkakan oleh sesetengah pihak. Pembentukan politik baru sesungguhnya tidak terelakkan. Acuan baru itu akan mengambil tempat, lalu bersaing dan mengalahkan politik lama yang bergantung kepada ketakutan, kecurigaan dan pemisahan antara kaum di negara ini. Kezaliman bukanlah hak milik mana-mana kaum, dan Keadilan adalah untuk semua.
Syaratnya ialah untuk terus beriltizam dengan Perubahan yang mengakar kepada hasrat untuk memelihara keluhuran perlembagaan, membanteras rasuah sehingga ke akar umbi, menjamin kedaulatan undang-undang, pengukuhan masyarakat demokratik dan berakhirnya politik perkauman.
Abad baru akan menjadi saksi, warisan pemerintah yang sekian lama “tahu apa yang terbaik untuk kita” sudah berakhir. Generasi Gelombang adalah kekuatan anak muda, suaranya, suara anak muda dan ianya arus deras yang mampu merubah lanskap politik serta sejarah negara ini. Anak muda mahukan sesuatu yang menyegarkan. Bahasa politik parokial perlu disisihkan. Perubahan yang luhur akan melibatkan semua untuk berbicara. Conversational Democracy adalah ciri penting penciptaan sebuah negara demokratik. Perdebatan dan wacana tidak menjurus kepada ungkapan seperti “pengkhianat bangsa” dan “agen yahudi.”
Generasi Gelombang tidak perlu menjadi apologetik dan mesti berani untuk mengaku bahawa bahasa demokrasi, kebebasan, keunggulan budaya dan pertumbuhan ekonomi yang mampan bukanlah monopoli mana-mana peradaban. Berbekalkan semangat baru, akan kita buktikan ungkapan Kipling bahawa, “There is too much in Asia and it is too old” adalah tidak benar sama sekali. Generasi Gelombang perlu merebut peluang mencipta dan menempa haluan baru buat negara ini.
Namun ini tidak bererti kita berhasrat mencipta yang baru dan terlepas dari pesan-pesan leluhur mahupun tradisi. Penggalian teks-teks klasik bagi saya menemukan kita dengan anjuran dasar untuk mengolah pandang dunia yang segar dan bertepatan dengan semangat zaman. Kebijaksanaan Bendahara Paduka Raja untuk menderhakai perintah Sultan misalnya, menyelamatkan Melaka dari hangus diberengus Jebat. Penulis Hikayat Hang Tuah menganyam cerita dan peri membiarkan pembacanya menilai di antara kesetiaan Hang Tuah, keterlanjuran Jebat, sikap tanpa usul periksa Sultan Melaka dan penderhakaan Bendahara Paduka Raja. Ternyata akhirnya penderhakaan Bendahara jualah yang menyelamatkan rakyat serta kerajaan.
Saya menyanggah beberapa telahan kononnya teks klasik ini menganjurkan taat setia tidak berbelah bahagi kepada pemerintah. Saya juga menolak untuk mengagung-agungkan perbuatan Jebat. Hikayat Hang Tuah adalah antara karya yang menampilkan kejelikan pemerintahan tanpa batasan. Ianya menjadi iktibar kepada kita untuk mencipta sebuah negara yang mempunyai batas-batas jelas untuk melindungi hak rakyat dari digasir pemimpinnya. Ini menguatkan hujah kita untuk menuntut sebuah negara dan masyarakat yang demokratik.
Kecurigaan di antara agama juga perlu dikikis. Islam tidak sewajarnya dipandang sebagai sebuah agama yang kuno, mandul daya intelektualismenya dan zalim semata-mata. Kegagalan penguasa dan sesetengah pemikir Melayu-Islam untuk mengangkat harakat agama adalah antara punca kecurigaan ini bertunas. Keilmuan Islam dan kekayaan tradisi kepustakaan Melayu dibiarkan usang kerana kebanyakan mereka lebih berminat untuk mengejar kerusi-kerusi empuk di institusi pengajian tinggi dan terpasung kerdil menjadi jiwa hamba. Manakala taraf keilmuan dan intelektualisme jauh merosot tatkala wacana-wacana falsafah, ekonomi dan agama yang rancak di luar negara langsung tidak dipedulikan. Kita masih menanti siapakah bakal mampu menandingi Syed Muhammad Naguib al Attas dan Syed Hussein al Attas.
Pilihanraya umum ke 12 menyaksikan Anwar Ibrahim dengan dokongan rakyat berbilang kaum dan agama, berjaya memimpin permuafakatan politik yang berjaya menafikan majoriti dua pertiga barisan nasional. Berbekalkan mesej Perubahan, permuafakatan tersebut berjaya menambat jiwa raga para pengundi. Perubahan secara mendadak menjadi komoditi hangat di pasaran. Saya rasa ini lah kali pertama dalam sejarah moden negara, rakyat Malaysia berada di kedudukan untuk menentukan “harga” dan “tawaran” siapa yang terbaik.
Inilah juga masanya buat kita, Generasi Gelombang menawarkan pakej yang terbaik untuk rakyat. Jelmakan keyakinan kita terhadap sebuah negara madani yang berpaksikan masyarakat demokratik, keluhuran perlembagaan, keunggulan budaya dan kemakmuran ekonomi. Jelaskan kepada rakyat mereka berhak kepada yang terbaik, makanya menjadi tanggungjawab kita untuk menjadi yang terbaik. Sudah tiba masanya kita menjayakan cita-cita “the cultivation of good taste take the place of mediocrity and philistinism.”
Eekmal Ahmad adalah kakitangan Pejabat Datuk Seri Anwar Ibrahim dan sering mendengar ulasan majalah Monocole, Wired dan Technological Review dari adik lelakinya.
Sunday, October 11, 2009
MCA is suicidal
MCA Commits Political Suicide - By Matthias Chang (12/10/09)
By Matthias Chang
Sunday, 11 October 2009 16:58
On 7th October 2009, we cautioned the central delegates of the MCA not to listen to Chua Soi Lek, the political opportunist and former Minister of Health and Deputy President, when voting at the party’s EGM.
The run up to the party’s EGM revealed that powerful forces within UMNO and former leaders of MCA were backing Chua Soi Lek’s coup against the President.
The President was too independent-minded for their liking and his determination to expose the corruption committed by former leaders of MCA in collusion with other political forces in the RM12 billion Port Klang scandal, sent cold shivers down their spine. It was decided that the President must be liquidated at all costs!
Chua Soi Lek was the chosen instrument in the overall scheme of things. He was ambitious, has a big ego and could be easily manipulated to do the bidding of the political high priests.
The plan was to “kill two birds with one stone” – pass a vote of no-confidence against the President and the vote rejecting the reinstatement of Chua Soi Lek as the Deputy President.
For being a willing instrument in the coup against the President, Chua Soi Lek was spared the utter humiliation of being expelled from the party and was reinstated as an ordinary member. But he thought that the reward was the Presidency of the party. How stupid can he be?
Surely, as a politician and knowing the paramount objective of the shadow powers was to put a stop to the Port Klang corruption exposé, he ought to know that once his usefulness was no longer required, he would be dumped! But Chua Soi Lek is a political bulldozer and like all machines, he forgot that the real driver is someone else!
The 1155 central delegates, who voted in support of the no-confidence motion against the President, have revealed themselves as mere robots and the dregs of the party. By their action in supporting the call of the Shadow Powers, they have actually committed mass suicide.
How stupid and irresponsible.
The Presidential Council unanimously supported the Disciplinary Committee’s recommendation that the Deputy President, Chua Soi Lek be expelled from the party. Thus, by passing a vote of no-confidence against the President, these 1155 central delegates have also passed a vote of no-confidence against the Presidential Council.
The Central Committee (or rather those who voted for the suspension and not expulsion of Chua Soi Lek) thought that their compromise solution would save the party. But it was a cheap and cowardly compromise.
Adding insult to injury, the central delegates by a vote of l204 against 1095 annulled the compromise solution of the Central Committee.
The practical effect of these two resolutions at the EGM is that the entire leadership of the party (i.e. Presidential Council and the Central Committee) has been rejected by a little over half of the delegates attending the EGM.
The total turnout was 2304.
Thus, the no confidence vote was supported by 50% + 3 delegates.
The vote to annul the Central Committee decision was 50% + 52.
Whatever rationale these delegates may give for their stance, the inevitable conclusion of the people is that MCA has not changed and will not change even after its disastrous defeat at the March 2008 General Elections. It is a party of the well-connected tycoons. These delegates have shown that they support corruption and the status quo.
The people had hoped that by his actions in rooting out corruption at the highest levels in the party, the President would usher a new era of reform and change. But it was not to be.
The Prime Minister by choosing a former Menteri Besar, who was found guilty of corruption as the candidate for the Bagan Pinang By-elections, has sent an unambiguous message to MCA that corruption and tainted leaders would be tolerated.
1155 MCA delegates responded to the message of the Prime Minister by rejecting their President who courageously exposed corruption within his party and removing a tainted leader.
What would be the consequences for MCA and the Barisan Nasional?
In my book, Will Barisan Nasional Survive Beyond 2010? I warned that if the status quo remains, the ruling party would be defeated in the next General Elections.
The recent events have not only strengthened my belief in such an outcome, but are further evidence that the Barisan Nasional component parties’ leaders are political bankrupts!
I cry for my country!
By Matthias Chang
Sunday, 11 October 2009 16:58
On 7th October 2009, we cautioned the central delegates of the MCA not to listen to Chua Soi Lek, the political opportunist and former Minister of Health and Deputy President, when voting at the party’s EGM.
The run up to the party’s EGM revealed that powerful forces within UMNO and former leaders of MCA were backing Chua Soi Lek’s coup against the President.
The President was too independent-minded for their liking and his determination to expose the corruption committed by former leaders of MCA in collusion with other political forces in the RM12 billion Port Klang scandal, sent cold shivers down their spine. It was decided that the President must be liquidated at all costs!
Chua Soi Lek was the chosen instrument in the overall scheme of things. He was ambitious, has a big ego and could be easily manipulated to do the bidding of the political high priests.
The plan was to “kill two birds with one stone” – pass a vote of no-confidence against the President and the vote rejecting the reinstatement of Chua Soi Lek as the Deputy President.
For being a willing instrument in the coup against the President, Chua Soi Lek was spared the utter humiliation of being expelled from the party and was reinstated as an ordinary member. But he thought that the reward was the Presidency of the party. How stupid can he be?
Surely, as a politician and knowing the paramount objective of the shadow powers was to put a stop to the Port Klang corruption exposé, he ought to know that once his usefulness was no longer required, he would be dumped! But Chua Soi Lek is a political bulldozer and like all machines, he forgot that the real driver is someone else!
The 1155 central delegates, who voted in support of the no-confidence motion against the President, have revealed themselves as mere robots and the dregs of the party. By their action in supporting the call of the Shadow Powers, they have actually committed mass suicide.
How stupid and irresponsible.
The Presidential Council unanimously supported the Disciplinary Committee’s recommendation that the Deputy President, Chua Soi Lek be expelled from the party. Thus, by passing a vote of no-confidence against the President, these 1155 central delegates have also passed a vote of no-confidence against the Presidential Council.
The Central Committee (or rather those who voted for the suspension and not expulsion of Chua Soi Lek) thought that their compromise solution would save the party. But it was a cheap and cowardly compromise.
Adding insult to injury, the central delegates by a vote of l204 against 1095 annulled the compromise solution of the Central Committee.
The practical effect of these two resolutions at the EGM is that the entire leadership of the party (i.e. Presidential Council and the Central Committee) has been rejected by a little over half of the delegates attending the EGM.
The total turnout was 2304.
Thus, the no confidence vote was supported by 50% + 3 delegates.
The vote to annul the Central Committee decision was 50% + 52.
Whatever rationale these delegates may give for their stance, the inevitable conclusion of the people is that MCA has not changed and will not change even after its disastrous defeat at the March 2008 General Elections. It is a party of the well-connected tycoons. These delegates have shown that they support corruption and the status quo.
The people had hoped that by his actions in rooting out corruption at the highest levels in the party, the President would usher a new era of reform and change. But it was not to be.
The Prime Minister by choosing a former Menteri Besar, who was found guilty of corruption as the candidate for the Bagan Pinang By-elections, has sent an unambiguous message to MCA that corruption and tainted leaders would be tolerated.
1155 MCA delegates responded to the message of the Prime Minister by rejecting their President who courageously exposed corruption within his party and removing a tainted leader.
What would be the consequences for MCA and the Barisan Nasional?
In my book, Will Barisan Nasional Survive Beyond 2010? I warned that if the status quo remains, the ruling party would be defeated in the next General Elections.
The recent events have not only strengthened my belief in such an outcome, but are further evidence that the Barisan Nasional component parties’ leaders are political bankrupts!
I cry for my country!
Tuesday, October 06, 2009
Reject Chua Soi Lek campaign!
Common Sense - Why Chua Soi Lek Is Not Fit To Lead MCA - By Matthias Chang (7/10/09)
By Matthias Chang
Tuesday, 06 October 2009 21:46
Chua Soi Lek is an opportunist and a lousy one at that. He is also a political coward. If the central delegates of MCA in the forthcoming EGM listen to this desperate man, it will be the end of MCA.
This opportunist has come out with a manifesto with the stupid slogan, The 3Rs – Reject, Reunite and Rejuvenate – in an attempt to garner support for his bid to oust Ong Tee Keat and hijack MCA for his true political masters!
Forget all the political noise and use common sense to evaluate this politician’s ugly ambitions.
Forget also his escapades. Zoom in on one factor and one factor only.
What is this factor?
Simple!
At the last MCA elections for the leadership of the MCA, this opportunist had a deal with another Mr. Chua who was once the Minister of Health. It was agreed that Chua Jui Meng would take on Ong Tee Keat for President, while Chua Soi Lek would vie merely for the Deputy President post. On paper, the two C-partnership was a formidable team, but they overlooked the fact that CCs just don’t carry any weight!
If Chua Soi Lek had the genuine desire to reform MCA and the vision to transform MCA, he should have challenged Ong Tee Keat after Ong Ka Ting resigned as President.
The sad fact was that he did not. He did not have the courage of his convictions to take a stand and challenge Ong Tee Keat.
The cunning Chua Soi Lek goaded Chua Jui Meng to take on Ong Tee Keat knowing that Jui Meng would lose. In fact, Chua Soi Lek ensured the defeat of Chua Jui Meng when his supporters did not vote for Jui Meng. But Jui Meng was naïve enough to believe that in exchange for his supporters’ votes to Soi Lek, the latter would also deliver his block of votes. But it was not to be and as they say, the rest is history.
Chua Soi Lek’s game plan was to be elected as Deputy President, and when the time is ripe, launch a coup against Ong Tee Keat.
Can anyone trust a leader as devious as Chua Soi Lek? Why have a manifesto now? Why not during the party elections?
He wants to reunite and rejuvenate the MCA, but the means he has adopted have divided the rank and file and sowed mistrust.
Chua Soi Lek is a pariah and he should be treated as such.
A better 3Rs slogan would be Reject, Reject and Reject Chua Soi Lek!
By Matthias Chang
Tuesday, 06 October 2009 21:46
Chua Soi Lek is an opportunist and a lousy one at that. He is also a political coward. If the central delegates of MCA in the forthcoming EGM listen to this desperate man, it will be the end of MCA.
This opportunist has come out with a manifesto with the stupid slogan, The 3Rs – Reject, Reunite and Rejuvenate – in an attempt to garner support for his bid to oust Ong Tee Keat and hijack MCA for his true political masters!
Forget all the political noise and use common sense to evaluate this politician’s ugly ambitions.
Forget also his escapades. Zoom in on one factor and one factor only.
What is this factor?
Simple!
At the last MCA elections for the leadership of the MCA, this opportunist had a deal with another Mr. Chua who was once the Minister of Health. It was agreed that Chua Jui Meng would take on Ong Tee Keat for President, while Chua Soi Lek would vie merely for the Deputy President post. On paper, the two C-partnership was a formidable team, but they overlooked the fact that CCs just don’t carry any weight!
If Chua Soi Lek had the genuine desire to reform MCA and the vision to transform MCA, he should have challenged Ong Tee Keat after Ong Ka Ting resigned as President.
The sad fact was that he did not. He did not have the courage of his convictions to take a stand and challenge Ong Tee Keat.
The cunning Chua Soi Lek goaded Chua Jui Meng to take on Ong Tee Keat knowing that Jui Meng would lose. In fact, Chua Soi Lek ensured the defeat of Chua Jui Meng when his supporters did not vote for Jui Meng. But Jui Meng was naïve enough to believe that in exchange for his supporters’ votes to Soi Lek, the latter would also deliver his block of votes. But it was not to be and as they say, the rest is history.
Chua Soi Lek’s game plan was to be elected as Deputy President, and when the time is ripe, launch a coup against Ong Tee Keat.
Can anyone trust a leader as devious as Chua Soi Lek? Why have a manifesto now? Why not during the party elections?
He wants to reunite and rejuvenate the MCA, but the means he has adopted have divided the rank and file and sowed mistrust.
Chua Soi Lek is a pariah and he should be treated as such.
A better 3Rs slogan would be Reject, Reject and Reject Chua Soi Lek!
Wednesday, August 26, 2009
The ultimate test of Najib's leadership
An Appeal To Malaysia’s Prime Minister cum Finance Minister - Re-examine The Country’s Strategy For Foreign Reserves - By Matthias Chang (27/8/09)
By Matthias Chang
Wednesday, 26 August 2009 20:30
Many visitors to my website have queried why I have not written any articles concerning the global economy in general and the Malaysian economy in particular in the last few weeks. I have not bothered to reply to those queries because what needed to be said and or written have been said and written by me repeatedly for the last one year.
I have warned that the present global stock market rally will not last, it is a suckers’ rally. But few have taken heed of the warning. There are no green shoots, and recovery if any, will be a few years down the road, not 2009 or 2010.
Just a few days ago, Nobel Laureate Joseph Stiglitz warned that the dollar’s role as a store of value is questionable and the currency has a high degree of risk. Professor Nouriel Roubini is of the view that there will be a U shape recovery, with a rising risk of a double-dip W shaped recession. But what was significant is that Professor Roubini takes the view that the present crisis is one of solvency, and not just liquidity and that true deleveraging has not begun yet because the losses of financial institutions have been socialized and put on government balance sheets.
Only time will be the final judge as to who is correct in the assessment of the present and future economic scenarios.
The purpose of my writing this article is to highlight the deafening silence of experts on the issue of gold reserves held by key central banks of the developed nations.
This is also my primary concern for the Malaysian economy.
I am known for using common sense in analyzing complex economic / financial problems and thus far, I have been proven right time after time in the general direction in which the global economy and the Malaysian economy are heading.
I believe that in the coming months, many countries in Asia will experience a rude awakening, to put it mildly.
In medical terms, it would be a massive financial heart attack in which our financial doctors will be totally disorientated and unable to assist the patient!
Since the financial crisis of 1997, many Asian central banks were led to believe that the best way to prevent future attacks on their currencies was to accumulate as much foreign currency reserves, preferably US dollars. And the quickest and safest route was to export and export to the mighty US in exchange for the dollars created out of thin air by the Federal Reserve.
The hardworking Asians worked their butts out and sold goods for mere paper currency, in actual fact toilet papers!
China led the way, and today she has the largest US dollar foreign reserve, followed closely by Japan.
But, our central bankers in Asia took no notice of the status and ratio of the gold reserves held by key European central banks. Additionally, Europe had the advantage of the euro as a “secondary reserve” currency.
As a result of the ongoing financial crisis, the Fed and the US Treasury have caused $trillions to be created out of thin air to stimulate the US economy. Never before, has so much US toilet paper been injected into the international banking system. The system is now choking in toilet papers!
While China, Japan, Russia and other Asian central banks are fretting about the decreasing purchasing power of the US dollar, the global banking elites seem impervious to the risk and danger of such an amount of toilet paper in the system.
Why?
The answer lies in the opening statement of the 3 Central Bank Gold Agreements (CBGA). In the latest CBGA, 19 national central banks and the European Central Bank were parties to the arrangement for the orderly sale and purchase of gold. The first agreement was made in 1999. Read the opening statement carefully:
“Gold will remain an important element of global monetary reserves.”
In the latest agreement, dated 14th August 2009, the above statement was repeated and followed by:
• The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted program of sales over a period of five years, starting on 27th September 2009, immediately after the end of the previous agreement. Annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2000 tonnes.
• The signatories recognize the intention of the IMF to sell 403 tonnes of gold and noted that such sales can be accommodated within the above ceilings.
• This agreement will be reviewed after five years.
It is significant to note that the IMF intends to sell 403 tonnes of gold and it is a no-brainer to venture a guess as to who will be the main buyer. China is desperate to unload its US toilet papers for gold and it has to be done carefully, as such sales “will be accommodated within the above ceilings.”
In the 90s, European central banks’ reserve portfolios were dominated by gold, ranging from 70% to 90% of total reserves. The abovementioned CBGAs were agreements made by the central bank cartel to control the price of gold when they are being sold by signatories of the CBGA.
During the period of the 1st CBGA, when 2000 tonnes of gold were sold, the price of gold rose by 52%. Since then, gold has risen continuously in what has been a secular bull market and in spite of gold sales by central banks. And the future trend is one of rising prices. Anyone who refuses to pay attention to this startling fact is an idiot!
Applying common sense, why should there be anymore debate as to the strategic value of gold?
For the doubting thomases out there, maybe the quotation below will be a wake-up call:
“With gold holdings amounting to 1,040 tonnes, it holds a substantial part of its currency reserves in the form of gold.”
- The Swiss National Bank
And with the dollar weakening further in the months and years ahead, the need for gold as a strategic reserve is one of paramount importance. The fact that the signatories to the 3rd CBGA have agreed to cut back the ceiling from 500 tonnes to 400 tonnes and inclusive of the IMF sales is indicative that there is a shift in the thinking of the 19 central bankers to this agreement.
The implications are obvious. When the shit hits the ceiling fan, following the run on the dollar, countries with significant amounts of gold as reserves will have a strategic advantage.
The current situation of key European Central Banks’ gold reserves as a percentage of their total reserves are as follows:
France: 73%
Germany: 69.5%
Italy: 66.1%
Netherlands: 61.4
Switzerland: 37.1%
In contrast, the key Asian Central Banks’ and Russia’s gold reserves are as follows:
Russia: 4%
India: 4%
Taiwan: 3.8%
Japan: 2.1%
China: 1.8%
Given this state of affairs, any sales by European central banks under the 3rd CBGA will not depress gold prices, as it will be inevitable for the underweighted Asian central banks to pick them up so as to bolster their miniscule reserves in gold. For more data, please reference World Gold Council.
The central bankers that control the gold supply will be better able to steer their countries through the second wave of the financial turmoil when confidence in the toilet paper US$ sinks to the very bottom and the dash to the safety of gold is in full flight. It will not be inconceivable for the price of gold to shoot up to US$ 3,000 or more per oz! And I AM BEING VERY CONSERVATIVE in this estimate.
So where will Malaysia be in the coming second wave of financial turmoil?
I am not optimistic that we are prepared for such an eventuality.
Bank Negara is in a state of denial.
The Ministry of Finance is also in a state of denial.
I am told that some key advisers are pre-occupied playing golf and other extra-curricular activities rather than hunkering down and doing basic ground work.
Yes, Mr. Prime Minister, Tun Dr. Mahathir Mohamad had his chance in governing the country for 22 years and Badawi had a go at it for five years and now it is your turn. There is much to learn from the two administrations, the good and the bad.
The string of By-election defeats is most unsettling as well as distracting.
I hope you are still focused on economic issues as the perception on the ground is that you are being deluded by the rebound of the stock market as being indicative of a general recovery.
Mr. Prime Minister,
Please take heed of the warnings by Professor Stiglitz and Professor Roubini, even if you take the view that my analysis does not deserve your scrutiny.
This is the ultimate test of your leadership – to keep the Malaysian ship on even keel in stormy waters. Should you fail, disaster will visit the Barisan Nasional in 2012/2013.
As the Prime Minister of Malaysia, I wish you every success, but please do hurry up, as we had wasted five years of warming up during the previous administration.
By Matthias Chang
Wednesday, 26 August 2009 20:30
Many visitors to my website have queried why I have not written any articles concerning the global economy in general and the Malaysian economy in particular in the last few weeks. I have not bothered to reply to those queries because what needed to be said and or written have been said and written by me repeatedly for the last one year.
I have warned that the present global stock market rally will not last, it is a suckers’ rally. But few have taken heed of the warning. There are no green shoots, and recovery if any, will be a few years down the road, not 2009 or 2010.
Just a few days ago, Nobel Laureate Joseph Stiglitz warned that the dollar’s role as a store of value is questionable and the currency has a high degree of risk. Professor Nouriel Roubini is of the view that there will be a U shape recovery, with a rising risk of a double-dip W shaped recession. But what was significant is that Professor Roubini takes the view that the present crisis is one of solvency, and not just liquidity and that true deleveraging has not begun yet because the losses of financial institutions have been socialized and put on government balance sheets.
Only time will be the final judge as to who is correct in the assessment of the present and future economic scenarios.
The purpose of my writing this article is to highlight the deafening silence of experts on the issue of gold reserves held by key central banks of the developed nations.
This is also my primary concern for the Malaysian economy.
I am known for using common sense in analyzing complex economic / financial problems and thus far, I have been proven right time after time in the general direction in which the global economy and the Malaysian economy are heading.
I believe that in the coming months, many countries in Asia will experience a rude awakening, to put it mildly.
In medical terms, it would be a massive financial heart attack in which our financial doctors will be totally disorientated and unable to assist the patient!
Since the financial crisis of 1997, many Asian central banks were led to believe that the best way to prevent future attacks on their currencies was to accumulate as much foreign currency reserves, preferably US dollars. And the quickest and safest route was to export and export to the mighty US in exchange for the dollars created out of thin air by the Federal Reserve.
The hardworking Asians worked their butts out and sold goods for mere paper currency, in actual fact toilet papers!
China led the way, and today she has the largest US dollar foreign reserve, followed closely by Japan.
But, our central bankers in Asia took no notice of the status and ratio of the gold reserves held by key European central banks. Additionally, Europe had the advantage of the euro as a “secondary reserve” currency.
As a result of the ongoing financial crisis, the Fed and the US Treasury have caused $trillions to be created out of thin air to stimulate the US economy. Never before, has so much US toilet paper been injected into the international banking system. The system is now choking in toilet papers!
While China, Japan, Russia and other Asian central banks are fretting about the decreasing purchasing power of the US dollar, the global banking elites seem impervious to the risk and danger of such an amount of toilet paper in the system.
Why?
The answer lies in the opening statement of the 3 Central Bank Gold Agreements (CBGA). In the latest CBGA, 19 national central banks and the European Central Bank were parties to the arrangement for the orderly sale and purchase of gold. The first agreement was made in 1999. Read the opening statement carefully:
“Gold will remain an important element of global monetary reserves.”
In the latest agreement, dated 14th August 2009, the above statement was repeated and followed by:
• The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted program of sales over a period of five years, starting on 27th September 2009, immediately after the end of the previous agreement. Annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2000 tonnes.
• The signatories recognize the intention of the IMF to sell 403 tonnes of gold and noted that such sales can be accommodated within the above ceilings.
• This agreement will be reviewed after five years.
It is significant to note that the IMF intends to sell 403 tonnes of gold and it is a no-brainer to venture a guess as to who will be the main buyer. China is desperate to unload its US toilet papers for gold and it has to be done carefully, as such sales “will be accommodated within the above ceilings.”
In the 90s, European central banks’ reserve portfolios were dominated by gold, ranging from 70% to 90% of total reserves. The abovementioned CBGAs were agreements made by the central bank cartel to control the price of gold when they are being sold by signatories of the CBGA.
During the period of the 1st CBGA, when 2000 tonnes of gold were sold, the price of gold rose by 52%. Since then, gold has risen continuously in what has been a secular bull market and in spite of gold sales by central banks. And the future trend is one of rising prices. Anyone who refuses to pay attention to this startling fact is an idiot!
Applying common sense, why should there be anymore debate as to the strategic value of gold?
For the doubting thomases out there, maybe the quotation below will be a wake-up call:
“With gold holdings amounting to 1,040 tonnes, it holds a substantial part of its currency reserves in the form of gold.”
- The Swiss National Bank
And with the dollar weakening further in the months and years ahead, the need for gold as a strategic reserve is one of paramount importance. The fact that the signatories to the 3rd CBGA have agreed to cut back the ceiling from 500 tonnes to 400 tonnes and inclusive of the IMF sales is indicative that there is a shift in the thinking of the 19 central bankers to this agreement.
The implications are obvious. When the shit hits the ceiling fan, following the run on the dollar, countries with significant amounts of gold as reserves will have a strategic advantage.
The current situation of key European Central Banks’ gold reserves as a percentage of their total reserves are as follows:
France: 73%
Germany: 69.5%
Italy: 66.1%
Netherlands: 61.4
Switzerland: 37.1%
In contrast, the key Asian Central Banks’ and Russia’s gold reserves are as follows:
Russia: 4%
India: 4%
Taiwan: 3.8%
Japan: 2.1%
China: 1.8%
Given this state of affairs, any sales by European central banks under the 3rd CBGA will not depress gold prices, as it will be inevitable for the underweighted Asian central banks to pick them up so as to bolster their miniscule reserves in gold. For more data, please reference World Gold Council.
The central bankers that control the gold supply will be better able to steer their countries through the second wave of the financial turmoil when confidence in the toilet paper US$ sinks to the very bottom and the dash to the safety of gold is in full flight. It will not be inconceivable for the price of gold to shoot up to US$ 3,000 or more per oz! And I AM BEING VERY CONSERVATIVE in this estimate.
So where will Malaysia be in the coming second wave of financial turmoil?
I am not optimistic that we are prepared for such an eventuality.
Bank Negara is in a state of denial.
The Ministry of Finance is also in a state of denial.
I am told that some key advisers are pre-occupied playing golf and other extra-curricular activities rather than hunkering down and doing basic ground work.
Yes, Mr. Prime Minister, Tun Dr. Mahathir Mohamad had his chance in governing the country for 22 years and Badawi had a go at it for five years and now it is your turn. There is much to learn from the two administrations, the good and the bad.
The string of By-election defeats is most unsettling as well as distracting.
I hope you are still focused on economic issues as the perception on the ground is that you are being deluded by the rebound of the stock market as being indicative of a general recovery.
Mr. Prime Minister,
Please take heed of the warnings by Professor Stiglitz and Professor Roubini, even if you take the view that my analysis does not deserve your scrutiny.
This is the ultimate test of your leadership – to keep the Malaysian ship on even keel in stormy waters. Should you fail, disaster will visit the Barisan Nasional in 2012/2013.
As the Prime Minister of Malaysia, I wish you every success, but please do hurry up, as we had wasted five years of warming up during the previous administration.
Monday, August 24, 2009
Some of the political geniuses in Malaysia
Khairy Jamaluddin
KJ is an enigma representing the youngsters who clamour for change in Malaysia, under the stewardship of United Malays National Organization. His meteoric rise, notwithstanding the support and easy climb backed by his father-in-law, former Prime Minister Tun Abdullah Badawi has been the talk of town since his days of helming the Deputy UMNO Youth Leader. He is smart, witty, intelligent, Oxford-educated 'new Malay' who aspires to lead Malaysia in the very near future. While his fate within UMNO is much to be guessed, some say he will go far. Others say he will be doomed. One thing for sure, never dismiss this bright young star, as detailed by the Khairy Chronicles.
Tun Dr Mahathir Mohamad
Mahathir, the grand old man of Malaysian politics is certainly here to stay. Love him or hate him, there is a certain acknowledge by all quarters that he was instrumental in the development of Malaysia to date, perhaps sacrificing some of the fundamentals enshrined in the Constitution. Mahathir is also a master of perception and hold dear to the Machiavellian philosophy. To be decisive, firm, accurate, concise and precise are his trademarks in executing state chores. This no-nonsense statesman still plays a role in the Malaysian political scene, often making headlines criticising governments, be it state or federal level. At 84 years old and still going strong, expect much more of 'Mahathirism' in the future.
Datuk Seri Anwar Ibrahim
Anwar Ibrahim, for the right or wrong reasons, will always be the icon of charismatic leadership. His ability to influence the masses to rally for his Reformasi campaign proved that he has substantial support from quite a majority of Malaysians. Since falling out from UMNO, he has been advocating Ketuanan Rakyat and consistent in his struggle for a better Malaysia. His oratory skills are unmatched by any politician in Malaysia so far, dead or alive. The Anwar today may or may not be the Anwar yesterday. But it is imperative that he remains the opposition icon and hope to unite Pakatan Rakyat and mount a strong challenge to the ruling coalition.
Dato' Sri Najib Tun Razak
By virtue of being the Prime Minister, we must acknowledge Najib of his achievement although one might think he has it all on the silver platter by virtue of his family. Najib may not be the brightest politician around, but he is certainly smart enough to be labelled a political genius. He has travelled a long way since his days of UMNO youth chief and Pahang Chief Minister, and yet he has not really been tested by open elections in his party, and yet, the people accepted and respected him. No doubt, he controls the cash cows currently, but ultimately, the 13th general election will be his performance yardstick. His genius flair will show if he can overturn the rakyat's anger against the Barisan Nasional.
Tuan Guru Nik Aziz Nik Mat
This Kelantan PAS CM and Spiritual Leader is what the Pope is to the Catholics, to his own people of Kelantan and PAS supporters. His words are powerful and combined with the religious credentials he has in his belt, it is no surprise that Nik Aziz will remain most influential in PAS.
KJ is an enigma representing the youngsters who clamour for change in Malaysia, under the stewardship of United Malays National Organization. His meteoric rise, notwithstanding the support and easy climb backed by his father-in-law, former Prime Minister Tun Abdullah Badawi has been the talk of town since his days of helming the Deputy UMNO Youth Leader. He is smart, witty, intelligent, Oxford-educated 'new Malay' who aspires to lead Malaysia in the very near future. While his fate within UMNO is much to be guessed, some say he will go far. Others say he will be doomed. One thing for sure, never dismiss this bright young star, as detailed by the Khairy Chronicles.
Tun Dr Mahathir Mohamad
Mahathir, the grand old man of Malaysian politics is certainly here to stay. Love him or hate him, there is a certain acknowledge by all quarters that he was instrumental in the development of Malaysia to date, perhaps sacrificing some of the fundamentals enshrined in the Constitution. Mahathir is also a master of perception and hold dear to the Machiavellian philosophy. To be decisive, firm, accurate, concise and precise are his trademarks in executing state chores. This no-nonsense statesman still plays a role in the Malaysian political scene, often making headlines criticising governments, be it state or federal level. At 84 years old and still going strong, expect much more of 'Mahathirism' in the future.
Datuk Seri Anwar Ibrahim
Anwar Ibrahim, for the right or wrong reasons, will always be the icon of charismatic leadership. His ability to influence the masses to rally for his Reformasi campaign proved that he has substantial support from quite a majority of Malaysians. Since falling out from UMNO, he has been advocating Ketuanan Rakyat and consistent in his struggle for a better Malaysia. His oratory skills are unmatched by any politician in Malaysia so far, dead or alive. The Anwar today may or may not be the Anwar yesterday. But it is imperative that he remains the opposition icon and hope to unite Pakatan Rakyat and mount a strong challenge to the ruling coalition.
Dato' Sri Najib Tun Razak
By virtue of being the Prime Minister, we must acknowledge Najib of his achievement although one might think he has it all on the silver platter by virtue of his family. Najib may not be the brightest politician around, but he is certainly smart enough to be labelled a political genius. He has travelled a long way since his days of UMNO youth chief and Pahang Chief Minister, and yet he has not really been tested by open elections in his party, and yet, the people accepted and respected him. No doubt, he controls the cash cows currently, but ultimately, the 13th general election will be his performance yardstick. His genius flair will show if he can overturn the rakyat's anger against the Barisan Nasional.
Tuan Guru Nik Aziz Nik Mat
This Kelantan PAS CM and Spiritual Leader is what the Pope is to the Catholics, to his own people of Kelantan and PAS supporters. His words are powerful and combined with the religious credentials he has in his belt, it is no surprise that Nik Aziz will remain most influential in PAS.
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