Tuesday, January 28, 2014

Singapore's fast approaching 90 year old Lee Kuan Yew's demise and the end of Singapore

Ladies and Gentlemen,

It has been reported lately that the already gravely ill 90 year old Singapore strongman is now almost half dead if not entirely. It does not take any intelligence to understand that he will go very soon. It has been reported that he has had two strokes lately and is greatly emaciated and has not been seen in public for some time.

The question that Singaporeans in their HDB government owned highly priced apartments overly inflated through government sponsored misinformation through their state controlled press, and the foreign investors who have been responsible for the housing and economic bubble is, what happens next.

Remember the island economy is very fragile dependent almost entirely on financial services most foreign owned.

If I was to advice Singaporeans, this is what I will say. The wisest thing for you to do now is to liquidate your assets in the island in haste, sell your HDB flat, take your assets out and transfer it into any other stable foreign currencies. If possible move abroad for settlement with your family. As each day passes the danger of a total economic collapse increases.

When that fateful day comes, which it will and very soon, you don't want to be the one holding the baby.

As for foreign investors who have assets in Singapore, the best thing to do now is to sell and move abroad without any further delay.

I expect once Lee Kuan Yew dies, the island economy will collapse. His son whom he had placed as Prime Minister does not command any respect either from the locals or the international community.

They look at him as nothing more than his father's son. If he has managed to rule this long, it is only because his father is still alive; not on account of his credibility. He lacks the experience or the stature of his father, not even one tenth.

He hasn't had to fight the British, the Communists or anyone else. In fact he hasn't had to fight anyone, not even political opponents. By the time he became Prime Minister the people of the island were so completely subjugated and enslaved, they were, as they are now, incapable of complaining about anything.

Furthermore, Singapore island does not have an established practice and procedure of government. The Constitution no longer controls since Lee Kuan Yew had completely done away with it.

There are no longer the rule of law, free and fair elections, or a free press. For 50 years Lee Kuan Yew has ruled by dictate alone. It was a system where he decided whatever should be done and the people just obeyed.

And with his son being appointed Prime Minister the system of government continued the same. He published whatever new rules he decides in the state controlled press and the people blindly obeyed, as they did with his father. 

The question when Lee Kuan Yew will die next week or the week after is, what happens next. Since there is no longer any established Constitution to decide on the type of government, is his son simply going to do what ever he wants even after his father's death? This I am not sure.

If Singaporeans were content to merely obey whatever Lee Kuan Yew throws at them, it is because it was Lee Kuan Yew and not some one else. Once he dies it is highly in doubt whether Singaporeans would be prepared to blindly obey the son.

When that day happens, I expect a sudden instability in the politics and a sudden drop in the economy. Singaporeans will then begin to question the government even more. If you did not see street protests before, you are going to see it now.

Lee's son may try to deploy the army to restore order, but it will only backfire and precipitate a total collapse. Singaporeans will flee the island and there will be no one left.

The already massive brain drain to Australia will become a flood, leaving behind only those can't. The ones remaining will be the noodle seller and the Chinese organ grinder.

The opposition politicians, if you call them that, are going to jockey for control. Problem is, since there are no real leaders to speak of, since every single government minister is merely a handpicked minion for Lee Kuan Yew, not one of them will command any authority as Ministers.

For instance I have no respect for Teo Chee Hean the Deputy Prime Minister now and neither will I have any respect for him after Lee goes. I consider him as well as every other Lee Kuan Yew Minister as nothing but a minion who does the job just because it enriches them.

I wonder where they will be when the island economy collapses. I have grave doubts whether they would even remain within Singapore.

When Lee Kuan Yew dies there is going to be a total collapse of the economy. The Singapore dollar will lose all value. Your HDB flats will be worth nothing. If you had any investments, they too would be worth nothing. Foreign companies who have invested in Singapore would lose all value in Singapore dollars. The only ones who are safe are those with assets in foreign currency.

Perhaps after some time, the situation may stabilize or perhaps it may not. It is a very small economy  with almost all it's economy dependent on foreign investment. The government has tried to re-assure people by saying it has large reserves. I wonder what the deserves can do in such a case. Foreigners will naturally abandon the island first.

I strongly advice Singaporeans and foreign investors to sell now and clear out before it is all lost. HDB flats owners, who mostly have no other assets other than their government owned flats, are going to be hardest hit when their entire savings would evaporates into thin air. The writing of gloom is on the wall. It is wise for you to see it.

If there is one biggest mistake or a criminal act Lee Kuan Yew has made, it is this. His failure to put in place a system of government to ensure a smooth transition at times such as this. And his biggest crime was the dismantling of the Singapore Constitution.

Perhaps I am painting an unduly gloomy picture. But whether it is or no, is it a risk you are prepared to take?

Gopalan Nair
Attorney at Law
A Singaporean in Exile
Fremont, California USA
Tel: 510 491 8525
Email: nair.glopalan@yahoo.com


Anonymous said...

What about new and free elections in Singapore after Lee Kuan Yews death? And what about removing his family and friends from all political functions and government? Their family should also pay back the money to all Singaporean people.

Anonymous said...

Hi Mr Gopalan, I have tried to email you to provide some compliments, but the email bounced.

Gopalan Nair said...

My Email is nair.gopalan@yahoo.com

Linda Kosmanto said...

Kung Hee Fat Choi, Gopalan! May the year of the horse herald the demise of Lee-cleptocracy and the dawning of freedom for all Singaporeans.

Anonymous said...

Hi, I love reading your posts. I think most decent Singaporeans would love to leave Singapore and migrate elsewhere but it is exceedingly difficult. These are the reasons:

1)No working holiday opportunity: Singapore has drastically reduce the number of working holiday agreements with other countries - we used to be able to go to UK but now... Many people use this opportunity to get working visas and then to continue staying.

2) Limited funds
Due to the ridiculous housing price in Singapore, many people are asset rich only, they are afraid of selling their flat because if life don't work out overseas, they will never be ABLE to afford another HDB flat.

3)No time
The average working Singaporean can barely find time to establish ties overseas. With the exception of people who need to meet foreign clients, how are you ever going to make friends or find out about life overseas if your job requires your commitment from 8.30 to who knows what time.

4)Lack of confidence
We have been taught to belittle ourselves to the point that bilingualism is a given, overtime is an unspoken rule and our jobs are godsend. Not many Singaporeans dare to betray the life of having a stable job and living in a HDB flat for a uncertain future overseas.

5)Distorted facts
Not many people know that living conditions in other countries are not as bad as they are portrayed in the media. There are usually only negative reports about the working conditions in other countries in the newspaper.

Please write a post to advice about how the typical Singaporean can escape that...prison touted to be one of the best place to live in Asia....

As in previous comments, I can only leave my name as anonymous as I fear being "monitored".

Gopalan Nair said...

To Anonymous who said

" Hi, I love reading your posts. I think most decent Singaporeans would love to leave Singapore and migrate elsewhere but it is exceedingly difficult. These are the reasons:"

What you have written are all the reasons of a Singaporean who has no intention of leaving, not one who has.

Besides, your perception of Singaporeans towards emigration is totally wrong.

On the contrary huge numbers who want to leave, continue to leave, students who attend overseas universities do not return and everyone who really wants to leave is more aware of how to do it that the ignorance that you attribute to them.

I am sure any reader of this post would see how wrong you are about Singaporeans who have any intention of leaving the island.

Of course there are hundreds of thousands of others who through ignorance and a lack of education and skills are incapable of leaving.

They have no choice but to stay as they are not immigrant material that Western countries are looking for.

Faith said...

To Anonymous, if your heart is set on migrating, then these perceived setbacks should not stop you from leaving. I agree that money (or there lack of) is a central consideration when it comes to migrating and it could be an issue you're facing, but anyway I really hope that you'll be able to follow your heart and successfully migrate should you wish to! Wishing you all the best Anonymous!

Anonymous said...

To all those who feel that there are too many obstacles, don't give up. I lost my son last year to a disease, and his memory is my strongest motivation in emigrating to the west. Money can be earned again, but one's life is too precious to spend on one small island

Anonymous said...

Former prime minister Lee Kuan Yew will not be attending the annual Tanjong Pagar constituency Chinese New Year dinner on Tuesday night for the second consecutive year, as he is in hospital recovering from an infection.

Mr Lee, 90, has been hospitalised in Singapore General Hospital since Sunday with a fever and a bad cough caused by an infection, and is currently on antibiotics and recovering.

"He has been advised by his doctors to avoid public appearances. As such, he will not be able to attend the Tanjong Pagar GRC Chinese New Year Dinner this evening. He would like to wish all Tanjong Pagar residents as well as Singaporeans a Happy Chinese New Year," said his press secretary in a statement.

Mr Lee has kept up with his practice of attending the annual dinner over the years, during which he would make keynote speeches. But he missed the event last year for the first time due to health reasons.

Anonymous said...

I had left S'pore 28 yrs ago and have not regretted it ever since. Sure, I visited every now and then, but staying in Thailand, China, USA,Cambodia, Laos, Mongolia, Russia have opened my eyes to the world beyond the shores of S'pore.

I refuse to exercise my rights to vote from a foreign country in general elections and thus lost my election rights, but I do not care a hoot. Does it make any difference ?

I have worked hard in my younger years in S'pore, accumulating more than 140K SGD ( a very misearable sum indeed) in CPF. I am in my late 50s. What do I get when I get to 65 ? A misearable SGD 875 for as long as I live ? Might this change in later years before I reach 65 ? What can you do with SGD 875 per month in 9 years from now ??? Can you tell me if it will be self sufficient for 3 meals a day + rent + expenses. Can you, dear former prime minister or your son, survive on such a meagre sum ????? Would you dare to enlighten us poor S'porean what is your household expenses per month ???? No need to tell us your income, just your expenses. Frightening S'pore......

I make more per year what I have in my CPF total amount (sic Joke). I find this a joke that after working for 15 hard years, all my hard earned money is withheld by the S'pore Government to invest in whatever fancy programs you invented. Nobody knows where our hard earned money goes. Nobody can explain in a simple and clear language what your governament is doing with our hard earned savings. S'poreans are hardworking people by nature. They deserve to know in all transparancies, what you are doing with their money ????? What is the GIC, with your close relatives in charge, doing with all S'porean's money ????? Is it so difficult to be honest and transparent ????? You are an aged man and I no doubt learnt. Do you believe in honesty at such an old age, as all wise old men do ????? Or do you wish to bring all these secrets with you to your grave ?????