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Ringgit will keep falling if key issues not addressed

YOURSAY ‘Soon our favourite hawkers will only accept USD.’

No reprieve as ringgit breaches 4.24

Swipenter: Falling ringgit and plunging KLCI. Welcome to the land where ordinary people suffer because of massive corruption by ruling politicians and the undying spirit to protect the corrupted by the authorities.

How long can Bank Negara’s US$95 billion in foreign reserves defend the falling ringgit and liquidation of shares and bonds by foreigners?

Prevailing market forces and sentiments will wipe it out in a matter of months. Bank Negara will either let the ringgit go into free fall or impose capital controls.

Very painful days are ahead. We will see high inflation, high unemployment and underemployment and poor business sentiments. Weaker businesses would close down in this period of high uncertainty and low consumer demand.

Jbsuara: This is the result of Umno trying to protect corrupt leaders through blind loyalty and turning a blind eye to justice and truth.

If this trend continues with the failure to address fundamental weaknesses in the political and financial system, the tattered economy will be weakened further. There will be no end to the woes suffered by its citizens.

I Wonder?: At this rate, very soon we will be buying a loaf of bread with gunny sack of ringgit. It has come to a situation the people must decide.

It is either premier Najib Razak going down or our economy collapses. It is your choice.

Supercession: Thanks to Najib and Umno, businesses will go bankrupt. Unemployment will increase manifold. The poor will be much poorer.

It's time Malaysia exports its graduates to Vietnam, Nigeria, etc, to work as maids, abattoir assistants, manual labourers and sex workers.

Soon our favourite hawkers will only accept USD.

What's New: 1MDB has difficulties servicing its outstanding loans. The falling ringgit will only see Najib's pet project go under even faster.

Yet, Umno is more interested in having a finger in the pie of RM2.6 billion remitted into the PM’s personal bank accounts.

Yahoo: The prime minister said wait six months, 1MDB will recover. I bet my bottom dollar, in six months, our ringgit will slide even further if he does not resign. See you at RM4 to the Singaporean dollar and RM5 to US dollar.

Clever Voter: Expect all sorts of conspiracy theories to surface. From blaming the US dollar to the perception that Malaysia has nothing else to offer, except how to cheat the people and get away with it.

No apologies here. Only if we can overcome this, we will not see a turnaround.

Kangkung 1M: I want to ask Umno leaders whether they realise they are displaying limitless stupidity in their race to save and defend the premier in the ‘RM2.6 billion in his personal account’ issue, when US$650m from Najib's account was sent abroad’

http://www.malaysiakini.com/news/308646

All for Malaysia: To all those ‘hantu’ who worked so hard to bring Malaysia down, congratulations. By the time you realise that you have sunk this nation and the leadership has not changed, it may be too late.

From 4.11 to 4.24 for USD in a day, surely there has to be some hidden hands somewhere. I know of two businesses in the Kajang area that have started retrenchments. Way to go.

Hopeful123: We have a finance minister who has no clue as to what is happening. During Tan Siew Sin's regime, Malaysian currency was one of the best and at par with Singapore and Brunei. Now we are the worst.

If you cannot do the job, please get a financial expert to take over. Never mind if it is a Chinese, Indian or any other non-Malay, as long as he/she is a committed, honest and trustworthy person. God save Malaysia.

Fateh: The BN government has been corrupted for far too long now, and the corrupt practices just keep rising, with no concern for the livelihood of the rakyat.

There is little prospect for this country. The corruption culture is too deep rooted.

Fair Play: The decline of the ringgit against a basket of foreign currencies is worse than I originally thought.

Hard times, I mean really hard times, are coming in the form of possible runaway inflation if the powers-that-be are powerless to do anything.

But of course, they still can blame Anwar Ibrahim, DAP and most certainly, Bersih. Capital controls might be the last option left now.

Hplooi: Indeed, the next psychological barrier of RM4.50 might be breached sooner than expected.

Which means if the current political and financial uncertainty remains unresolved, the next barrier of RM5 may be sometime in mid-2016.

Apapunboleh: Najib bastardised the ringgit by transferring US-denominated "donation" to Singapore.


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