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YOUR OPINION | “Malaysia, under PN, seems determined to surpass Zimbabwe.”
‘Printing money’ – Fayhsal says critics don’t understand, they make false assumptions
Dr. Raman: Actually, the Vice Minister of Youth and Sports, Wan Ahmad Fayhsal Wan Ahmad Kamal, does not understand it because he reads these things in other places, such as at the post of the Bersatu Youth Economic Office, and transmits it to the public as his creation. .
You can’t blame him because he doesn’t understand simple economics himself despite hundreds of comments and explanations, so his only defense is that he read it elsewhere.
To be fair to him, let me explain in terms that he can understand.
Let’s say you are used to buying a pack of nasi lemak for RM1. One day he gets smart and breaks the ringgit bill in two (equivalent to doubling the money supply), and demands that he get a packet of nasi lemak for half a ringgit.
The nasi lemak vendor takes pity on him, accepts the half ringgit bill and sells him a packet of nasi lemak. Then he gets even smarter and breaks the dollar bill into four pieces, hoping to buy four packs of nasi lemak.
Of course, you cannot understand that the supply of nasi lemak packages should have instantly doubled or quadrupled to avoid hyperinflation or loss of value of the ringgit.
Now that I think about it, he’s not the only one who thinks that way. It is the result of constantly giving out brochures without a commensurate increase in productivity or hard work.
This is the youngest type of generation the nation has produced over the years. We must thank Wan Fayhsal for shamelessly manifesting such deep-seated malaise in our nation. That’s probably your deepest message here. Work hard, don’t expect more easy money.
Public transportation is better than roads: Anyone with a brain can understand that printing more money would basically make the currency worthless as it floods the market with the currency itself, devaluing the currency because there is abundance.
It’s very simple: a Birkin “Rosmah” luxury handbag costs a hypothetical RM2,000 ringgit. If one day someone floods the market with many “Rosmah” bags, wouldn’t the massive amounts of bags on the market cause the value of the bags to decrease as there is plenty? The same goes for money.
It’s a no-brainer, but Wan Fayhsal still claims otherwise. Luckily he’s not in the Ministry of Finance. Or worse, central bank governor.
New day: Please try again, Wan Fayhsal. You are the one who needs education in banking and economics. Modern monetary theory (MMT) is flawed when it comes to the Malaysian model, as it relies on people being hard-working and hard-working.
Nor has it taken into account our currently cheap currency. It wouldn’t take much to push us to the brink of hyperinflation.
If this money printing had some substance to our situation in Malaysia, don’t you think the central bank would have gone this way by now? Bank Negara understands our weaknesses.
You? Working hard, sweating, and straining works wonders to cleanse the brain of accumulated mush.
I think, therefore I exist: Explain it though, Wan Fayhsal, you still look foolish. Printing more money solves nothing more than lowering the value of that currency.
But what’s scary is the moral dilemma of not working hard to earn money. That seems to be the theme of previous regimes for the last 63 years. And the end product is a person who advocates printing money to ease the nation’s economic woes.
I’m not sure who to thank for bringing us to this point of hopelessness with no return. There are so many out there.
JusticeNow!: While Zimbabwe is slowly coming out of its hyperinflation, Malaysia, under the rule of Perikatan Nasional (PN), is determined to overcome them in destroying the country and turning it into a Zimbabwe of Asia.
Just a Malay: First, our politicians spent all the money we got from natural resources like tin or oil. Trillions are lost that can be invested. So our politicians borrow to spend. 1MDB is a good example of how uncontrolled energy can borrow billions and pocket billions.
If we allow money to be printed in the hands of kleptocrats, they will print and steal. This final stage is the nail in our coffin. The Malaysian currency will collapse and we will send our children abroad as cheap labor.
Malaysiansatay: Wan Fayhsal said his critics had “misunderstood” his points and made false assumptions.
And B, when most people talk about economics and / or economic policies, the assumptions are made so that people don’t “misunderstand” and make false assumptions.
Did you make it clear what you were talking about? Or is he now backtracking on what he said? Or is it a case of “terlepas cakap” (badly spoken) and now trying to bounce back saying, “Honestly, this is a technical issue and needs more discussion about the origins of money and modern banking.”
Siva1967: This is the standard answer that each and every politician has, regardless of which side of the aisle they are sitting on.
The moment your stupidity is pointed out, your first response is: I have been misquoted, or misunderstood or misunderstood.
But no one will admit that they made a ‘mistake in taking’ (‘mistake in taking’ is deliberately misspelled to emphasize the mistake).
Eagle: It’s a brilliant theory, Wan Fayhsal. I need some help here. Can you print RM500,000 to help me pay off my home loan?
Before I forget, I owe RM85,000 on my car loan to the finance company, I need RM3,000 a month for household expenses, and my son needs RM350,000 for his tertiary studies abroad. Can you print money to help me pay for these expenses?
Extremely worried: I wonder, instead of asking Bank Negara to print money and deliver it directly to us, why doesn’t Wan Fayhsal consider letting us photocopy our money and use it (of course, after the necessary legislation is passed)?
Imagine, we can photocopy any amount we want and use it at every opportunity and revive the economy to be the most vibrant of all countries.
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