Ladies and Gentlemen,
Singapore's state controlled newspaper Straits Times of March 04, 2015 has the story 'Singdollar at 4 year low against Greenback" http://www.straitstimes.com/news/business/economy/story/singdollar-4-year-low-against-the-greenback-20150304
Of course the article attributes the decline to everything else other than the obvious reason, Lee Kuan Yew's impending death.
This is not at all surprising. Other news also relates to the island's poor performance in exports and manufacturing. A further look deeper into Singapore news would undoubtedly mention many more instances of poor business.
As I have said all along, the reason why Singapore is even functioning today is entirely because of Lee Kuan Yew, the island's dictator, not because of his clueless son who was placed in that position by his father nor anyone else who are nothing but handpicked scholars who simply do their bidding. If Lee Kuan Yew dies, then literally Singapore dies. The money will become worthless, the foreign businesses would pull out in the ensuing disorder and instability just as is the case in any other dictatorship around the world.
In Italy before Mussolini the trains were never on time. When he came, he did make them run on time. And after him for a long time, they reverted to the delays as before. But Italy is not Singapore. It is bigger and with more resources. Italy is in a position to recover, but Singapore with hardly 2 million locals if you don't count foreigners and recent immigrants in a tiny island simply cannot.
In the case of Singapore, what you see is artificial prosperity, created on the backs of foreign companies who are there for a quick return in a dictatorship and the Chinese millionaire bank frauds who have parked their money there.
When the bad news really hits of Lee's passing, that's when the money will really, I mean really flow out. If his son is going to bully all his compliant citizens through defamation lawsuits in his Kangaroo Courts, it will not work. Already now the people are hitting back. We have had 3 young Hindu Indians who punched police officers at their religious festival, we have had Roy Ngerng calling Lee's son a thief stealing on an industrial scale, and graffiti artists and computer hackers attacking his government.
When Lee Kuan Yew dies, I expect all Hell to break lose. The pent anger under which the citizen lives will finally explode. When that happens you have total chaos. And when there is chaos, a tiny island reliant on foreign capital will simply disappear.
My advice to Singaporeans is to demand your CPF money right now, regardless of what age you are and transfer it into a stronger currency like the US dollar. You better do this now before your money turns into Chinese Hell notes, only good enough for burning at Chinese funerals.
Attorney at Law
A Singaporean in Exile
Fremont California USA
Tel: 510 491 8525