India has just increased it gold reserves by a massive US$6.7 billion thus increasing their already massive gold reserves by 51 percent. China and Russia are likely to follow suit by taking advantage of IMF's gold sale to raise funds to help poorer nations.
Meanwhile, we are here trying to cover up a massive fraud called the Port Klang Free Zone (PKFZ) scandal that could cost the country more then the price India has paid for the gold to beef up its reserves.
The PricewaterhouseCoopers report has recommended that the Port Klang Authority (PKA) to restructure the loan or the total cost of the project could balloon to RM12.453 billion.
Think what could have happened to our ringgit reserves if we had invested that amount buying IMF’s gold. Our government, however, is on the other hand busy with individuals scheming on ways to make money. The rewards to be the head of Umno, MIC, MCA and Gerakan are so plentiful that the leaders will go to all lengths to secure the presidencies.
They just can't let it go. The rewards are so high so they play for high stakes and that is usually done at the expense of selling out their own race and that is the price of racial politics.
If you notice the way the MCA is going now, I am sure you are aware it is not the first time the party has gone a similar road. There was a time when Lee Siok Yew was involved and then there was the Dr Neo Yee Pan era. Then, of course, a famous MCA chief was even jailed by the Singapore government. All of them fought tooth-and-nail to remian in power and why not? They all become millionaires if not billionaires.
One MCA chief once told the public that his son - who was in his mid-twenties had become a millionaire because ‘he worked very hard’. If you did not feel insulted with what he said then I think we Malaysians need to be treated such by our politicians. That son bought a public-listed company and it has gone down under I still own one lot of shares there.
It is time we take stock of what we want from our government or be prepared to go the way the Philippines and Burma have gone. Many of you are so young and you do not understand or have seen the consequences of such governmental schemes, decisions, and projects.
The Philippines was once way ahead of Malaysia nd Singapore but take a look at them now. Burma used to be as rich as Malaysia, look what has happened.
In both cases, governmental corruption at the highest levels bled those countries bone dry. The proud Burmese have to come here to seek manual labour to survive while the Filipino ladies whom we used to envy and hoped to make brides of are now maids. What a contrast, what a pity.
Very soon, if we do not check ourselves, our children will end up with the same fate. Imagine your daughter going to an Arab country to work as a maid. This could soon become a reality and in fact it is already beginning.
There are Malaysians now working for Arab airlines and Arab hospitals. There is Malaysian labour in Arab countries in case you do not know and this is the beginning of our subjugation. Very soon the situation will deteriorate further, very soon. And who do we thank for that?
