Ringgit no longer link to USD....

[links]

Today quite happening, first is China also stop linking their RMB to USD...RMB go up 2% straight...this will help to neutralise their inflation abit and stop the American complaints....

then Malaysia also said it will no longer link to USD at RM$3.80 to 1USD....is it because we are no longer able to tahan the deflation of ringgit to USD becoz our G cannot afford to dump in money to maintain the link????

Our national reserve duno still got how much in real.....many went into subcon's pocket.....and some already flow outside via trading....will Ringgit able to stand strong after floating in free market????.........

 

[PrinceHamsap]

the reserve ??? 99 million ringgit go for parliment renovation :lol:

 

[acbc]

Hope it will be lower than 3.83. If higher... DOOMS DAY!

 

[links]

dun think tis the rite time to stop the link....the econ is so so only and many corruptions around..if ringgit deflate then 69....those working in spore should be happy..their pay may increase by the currency gap.....


PM said the current new rate will still close to rm$3.80 to 1 usd...but later......hai....

 

[boggysv]

Dont you guys think that this action is slightly late?
We should have unpegged once the EURO launched.

Well, at least there is some action finally.

 

[sotplugDESIGNER]

erm,noob in $$$ thingy,so tis means gd or bad 2 us?if gd or bad wat's the cause?

 

[koolspyda]

malaysia needs to unpegged. china has done so & malaysia would lose out tremendously directly from it if we dont. (its short term measures)

BUT we are screwed too, long term. it a gamble G is taking.

the future is bleak.

 

[links]

yeah...i think G is making big gamble....but most important thing is we need sufficient reserve and econ growth to maintain the $$ value...our current situation does not have these 2 factors strengthened.....if $$$ kena deflate kau kau then our already worse inflation will get to worst.....


frankly speaking if i am investor i also wouldnt consider to hold ringgit on hand...news like proton propose to barr import of cars in its categrory, AP kings...these issue are already enough to break the investors confidence...somemore now many of those investors will sell watever currency on hand to go for RMB at this moment....ppl think RMB still can go up somemore.....in the stock market..singpore and indonesia is go up only malaysia is going down...*duh*...wake up !our G...

 

[NOSkill]

I heard that it was high 3.5 this morning, but now 3.75............

 

[links]

hot money is flowing in to pump up the value and then later....


singapore government has interfere its currency market lastnite to prevent further increase on sing dollar value....

USD is falling ....maybe ppl selling up USD and buying other currencies in southeast asia and China now....after awhile...these money will move again...

 

[Joeker]

so actually wat is the rate now?

Alot of people can't plan their imports and exports if Bank Negara merely indicates "fair price" exchange.

What the fuck is "fair price"?

 

[links]

ask your friend stick back to USD for export at the moment....for import....just depend on how the market goes...gambling now..if after import the RM increase then earn..if go down then...jia lat...

 

[Waja1.6X]

we should have did the deal with Brunei and Singapore......then M'sia, Singapore and Brunei currency would be the same but our PM(not mentioning which 1), decided not too becos he tot that M'sia could depend on ourself becos of our "sources".....

but is all too late......

 

[links]

if we join Brunei and Singapore...our currency value will increase too much...we will lost our export due to the cost.....not advisible to follow singapore and brunei rate....

 

[yuh_woei]

Cannot do anything.............. LIFE GOES ON, they want to make Ringgit value like Rupiah also cannot stop, want to make it like Pound also cannot Stop........... just can watch and better find a good way to prevent your self from getting poor.

 

[alantan]

hmmm..can sumbodyhelp em to understand?

hmm if malaysiao RM unplugged it's network with USD..then how RM would stand?...
no more piggyback?just standalone?

if We joinbrunei and sg.why export will drop?
but inside teh country would teh poorer be richer?

 

[jasonchan]

seriously i also donno what is the impact cause i dont study economy...

 

[links]

hmmm..can sumbodyhelp em to understand?

hmm if malaysiao RM unplugged it's network with USD..then how RM would stand?...
no more piggyback?just standalone?

if We joinbrunei and sg.why export will drop?
but inside teh country would teh poorer be richer?

RM value will depend on the market power........higher demand then go up..lower demand then go down...no fix at any point..so can go very high and ofcourse very low also.... no longer fix at a rate....

if we join brunei and sg...their current rate to USD is USD$1 to SG$1.6x...while ours is only USD$1 to RM$3.8.....the gap is more than double...which means our export goods price will rise more than 1 times....but in another hand the imported goods will be cheaper 1 times also..but guess wont benefit us that much becoz our G definitely will apply higher tax to protect their own ppl....

but with 1 times increase in export cost...we will lost export trade becoz our goods will be too expensive to others....

Also our debt to overseas will reduced as most of the borrowings are in USD..since RM value up means we pay less for the loan to overseas debtor....

There are pro and cons...but export is very important to our econ without export we dont have much business to do...

 

[alantan]

so the poorer still will be poor and the richer is so worried that they will be not so rich?

hmm..isghs..what about petrol? petrol price is based on US also rite?

 

[links]

petrol..this should be something we will be worry about....

The World is not running out of Oil . The World is running out of cheap oil....

in short term those speculators in the market will pump up the petrol price in global market and petrol price tend to fluctuate....in long run, the cost of mining the petrol will also go up.... the demand of petrol will also go up.

The major petrol consuming country like china are starting to build their Strategic Oil Reserve(SOR). Currently, US, Japan and germany have 100days reservation while China only have reserve which only last for 10 days.... China tried to buy over Unical, one of the largest petroleum company in US but failed so now they will have to buy in a lot of petrol directly from the market to build up the SOR planned for 30days which is 2 times more than current reserve.....China will consume as much as 1/3 of petrol in the world and you can imagine how much petrol they will need to keep for 30days reserve?

Petrol is everywhere in our life....not only in the cars, power stations....petrol also use in various area....like those plastics....soaps....etc...if petrol price go up our living cost will also go up....

many think fuel cell will help to reduce the petrol usage..infact...fuel cell cannot totally replace petrol in transportation...

Each hydrogen fuel cell car requires approx. 60 gms of platinum !!!There are roughly 200 Million cars in this whole damn World and the reserve of platinum in the world may only enough to make 1/10 of the cars in the world....

also, Granted that newer and cheaper catalysts ( Nickel-Tin ) are discovered to replace the expensive Platinum , a fundamental problem remains :

Hydrogen is only a carrier of energy, it's not the source, meaning that you need energy to manufacture Hydrogen ( eg, by electrolysis ) . Where does the Energy come from ? From burning petrol ? From nuclear power plants ? But the world's total uranium storage can last only ~ 40 years.

Petrol...something that will cause human headache...