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Wednesday, April 27, 2016

UPDATE : KEPALA HOTAK ENGKAU NO CROSS DEFAULT, What Happens When A Country "Defaults" On Its Debt?

Updates in red : Team Moron is crowing that there is no cross default. These folks are just not educated.

An event of default has occurred. The moment an event of default occurs, it triggers cross defaults.  It is automatic.

Once a default has occurred, the Lenders / Bondholders MUST send a lawyer's 'Letter of Demand".   All you thousands of "OBB" (orang bankrap baru) should know this. 

For the Ringgit bonds, the bondholders are mostly (maybe ALL) the local  funders (the GLCs, the KWAP, SOCSO, EPF etc). All under the "guidance" of Team Moron's gomen. 

The question is will these local Lenders / Bondholders enforce or pursue the event of default? Wil they send a 'Letter of Demand' to 1MDB? 

That is the question. 

Here is the answer : Mahu cari mampus ke?

I challenge any of these local bondholders to send a letter of demand to 1MDB on their default. 

More updates later. Tunggu naik kapal sekarang.

Here is some copy paste folks.  Considering the incredible stupidity of the Prime Minister and his Cabinet and all their advisors which has brought Malaysia to this mess, we really do not know what is the maximum depth of their stupidity.  Just when you thought they had hit the bottom of the pit, they can dig deeper at the bottom of the pit and fall in even more. 

Not many countries default on their debts.   Argentina defaulted in 2001 and Greece in 2012.  In 2016 Malaysia joins a very "exclusive" club. The following is from The Economist:
  • When countries default on their debt, it can be very painful for the country, particularly if they are unexpected and disorderly. 
  • Domestic savers and investors, anticipating a fall in the value of the local currency, will scramble to withdraw their money from bank accounts and move it out of the country. 
  • To avoid bank-runs and precipitous currency depreciation, the government may shut down banks and impose capital controls. 
  • As punishment for default, capital markets will either impose punitive borrowing rates or refuse to lend at all. 
  • And credit-rating agencies will no doubt warn against investing in the country
This is from the Wikipedia.
  • To pay back borrowings in their own currencies,  governments can devalue their own currency. 
  •  
  • This can be done by printing more money to apply toward their own debts, or by ending or altering the convertibility of their currencies into precious metals or foreign currency at fixed rates. 
  •  
  • If potential lenders or bond purchasers begin to suspect that a government may fail to pay back its debt, they may demand a high interest rate in compensation for the risk of default. 
  •  
  • A dramatic rise in the interest rate faced by a government due to fear that it will fail to honor its debt is sometimes called a sovereign debt crisis. 
  •  
  • Governments may be especially vulnerable to a sovereign debt crisis when they rely on financing through short-term bonds, since this creates a situation of maturity mismatch between their short-term bond financing and the long-term asset value of their tax base.

    They may also be vulnerable to a sovereign debt crisis due to currency mismatch: if few bonds in their own currency are accepted abroad, and so the country issues mainly foreign-denominated bonds, decrease in the value of their own currency can make it prohibitively expensive to pay back their foreign-denominated bonds
     
  • A government which defaults may be widely excluded from further credit, some of its overseas assets may be seized.
  •  
  • It may face political pressure from its own domestic bondholders to pay back its debt.
 
Will update later

Khadem Also Arrested ! ! Hippo Needs Sleep Injections !!

Khadem is caught

It was The Thingy who revealed last month that Mohamed Al Husseiny was under house arrest in Abu Dhabi, pending an extradition request from the United States, where he holds citizenship.

We can now further confirm that his former boss, Khadem Al Qubaisi, regarded by many as ‘untouchable’ till now, is also held under arrest in Abu Dhabi.
The Abu Dhabi authorities have issued the former top business player with a multi-million dollar repayment demand and banks worldwide have frozen his assets:

“He has given them [Abu Dhabi authorities] power of attorney over all his affairs and they have seized all his assets”, one contact has told The Thingy, “soon enough there will be a confession and that will implicate the responsible parties”.

Under such circumstances one can understand why both Moron and Hippo are said to be receiving injections in order to sleep at night.

My comments :  That filem lucah producer boy is at some risk. The money trails are quite clear. The only issue is establishing the legality or illegality.  If the illegality is established, he will do time. 

Hence also the sleep injections.  

Remember This From 2014 : 1MDB Was Just Pulling Your Leg. Not Mine !!







 "we have never missed a payment schedule.." ? ?

PENIPUAN DALAM 1MDB

1. Akhirnya penipuan yang dilapor oleh media cetak dan elektronik di seluruh dunia diakui benar oleh Presiden dan Pengarah Eksekutif 1MDB, Arul Kanda Kandasamy. 

2. Arul mengaku akan kegagalan 1MDB membayar US 1 billion (RM 3.9 billion) kepada IPIC (International Petroleum Investment Company – Abu Dhabi), syarikat yang menjamin hutang 1MDB.

3. Mengikut IPIC syarikat bernama Aabar PJS Ltd (British Virgin Islands) yang menerima bayaran dari 1MDB bukanlah miliknya walaupun IPIC mempunyai sebuah syarikat dengan nama yang hampir sama, iaitu Aabar PJS Ltd.


4. Jika 1MDB membayar USD 1 billion kepada syarikat palsu, ada kemungkinan syarikat berkenaan ditubuh dengan pengetahuan 1MDB sendiri dan duit itu akhirnya dimasuk dalam akaun persendirian. Sangkaan seperti ini memang dibuat oleh ramai orang, dan kenyataan Arul bahawa ada penipuan besar berlaku dalam 1MDB hanya mengesahkan sangkaan.

5. Arul akan cuba membetulkan yang salah tetapi benang basah sukar ditegak selepas pengakuan olehnya. Adalah lebih baik Arul cerita semua, berkenaan juruaudit dibuang, 1 billion US dilabur dalam JV 1MDB/Petro Saudi, tanpa kelulusan pengarahnya, tanpa pemeriksaan due diligence, dan kemudian dibubar tetapi modal tidak dikembali kepada 1MDB, sebaliknya diberi pinjam kepada Petro Saudi, duit yang pergi ke Cayman Islands yang tidak balik ke Malaysia tetapi ke Singapura yang menjelma jadi unit, yang dilihat oleh Arul tetapi tidak dilihat olehnya, peranan bank BIS dan lain-lain milik Jho Low perjalanan wang 1MDB ke Hong Kong, Switzerland, London, Amerika, British Virgin Islands, Seychelles, Abu Dhabi, penyalahgunaan duit KWAP, duit SRC mengalir ke dalam akaun Najib, konsesi minyak di Argentina dan Turkmenistan yang menjadi aset dan kemudian tidak menjadi aset dan beribu lagi cerita yang melibatkan wang 1MDB, dijelas, dinafi, diakui dan hilang tidak disebut lagi.

6. Sesungguhnya negara Malaysia tidak pernah melihat skandal yang sebegitu besar seperti skandal 1MDB. Rakyat yang sukar memahami berapa besarkah satu juta, sekarang mencuba menggambar banyak manakah satu billion, dan empat puluh dua billion. Bagaimanakah wang berbillion boleh kesana kesini sehingga akhirnya berada dalam akaun peribadi Najib. Rakyat menjadi bingung dengan cerita-cerita wang begitu banyak yang merata ke semua pelusuk dunia.

7. Dicerita pula pembiayaan pengeluaran filem lucah dengan ratusan juta Ringgit yang dibuat oleh anak tiri Najib, Waah! Banyaknya duit. Dari mana datangnya. Mudah. Duit Keluarga. Rupa-rupanya multi-milionaire Melayu sudah lama ada. 

8. Dan banyak lagi pengakuan yang boleh dibuat oleh Arul, oleh pengerusi jawatankuasa penasihat, Peguam Negara dan Ketua Polis Negara dan jangan lupa Datuk Shahrol Azral Ibrahim Halmi yang begitu berani bertindak sendiri meminjam dan melabur berbillion Ringgit dan USD bagi pihak 1MDB tanpa kebenaran, tanpa kelulusan badan pengarah dan orang atasan. Waah! Confident sungguh Shahrol. Apakah dianya juga yang terlibat dengan bayaran kepada Aabar PJS Ltd (Virgin Islands).

9. Satu filem drama boleh dibuat berkenaan 1MDB dan tokoh-tokoh serta lokasi diseluruh dunia yang terlibat. Red Granite boleh labur dan beberapa tokoh terkenal boleh jadi pelakon. Mungkin akan menang Oscar.

10. Demikianlah cerita 1MDB yang berjaya memperkenalkan Malaysia ke seluruh dunia. Akan lebih ramailah pelancong yang akan datang ke negara 1MDB.

11. Memang hebat Malaysia dizaman Najib!!

To Zahid, Azalina, Salleh, Rahman & Cybertroopers In Team Super Moron : 1MDB Has No More Debts Lor !!


Its official now.

1MDB has NO MORE debts.

Now it is 'defaults'.

They had plenty of "units".

A "unit" is not a debt. 

A "unit" is something that even superbrains like Tun Dr Mahathir cannot understand. 

So please do not expect Team Super Moron to even begin to understand what is a unit.

But never mind about all that. 

1MDB has no more debts.

1MDB now has "defaults".

A "default" is very different from a debt. 

Now 1MDB has plenty of "defaults". 

Besides plenty of "units".

So Tuan-Tuan I hereby declare 1MDB "free of all debts".

Now they have "defaults".

And of course "units".

Majulah negara.
Majulah bangsa.
Majulah Singapura.

Alamak ! Silap skrip lagi. Low sugar again. 

Have to breakfast lah. 
Depa buat 'french toast' dengan 'pancake batter' pula. Creative betul. Boleh masuk akal?

A "default" is not a debt. Boleh masuk akal?

Err..before that Team Supermoron ni ada akal ke?