Another Brick In The Wall
Cancelled celebration of Israel’s victorious 6 day war in 1967 planned in Melaka
At least, there are bloggers concerned with the development in the market and implication on the country.
Few FB comments expressed concerned with words uttered by Tun Dr Mahathir and Lim Guan Eng as not helping the economy. In addition to repeated mentioning of RM1 trillion debt political hoax, there was the technically deficient earlier remark of Guan Eng on government bailing our 1MDB.
Enough of picking on Guan Eng. Azmin’s remark is far more damaging. FT.com quoted his, “Economy is in a mess” remark here.
And, there have been many developments over the weekend and Hari Raya holidays. Comments on foreigners streaming out of the stock market have gone viral. There is also rising awareness on the important agriculture product of Malaysia, palm oil and potential of ringgit.
The instinct is it could be a stormy Monday by the indication of increased amount of foreigners’ selling last Thursday.
It is strange that everything is falling into place since the selling two days before polling on May 9th. No … no … please not another Zionist conspiracy.
EU’s palm oil bombshell
It cannot be coincident that EU dropped the bombshell to announce phasing out and ban palm oil for transport use by 2030.
Palm oil have been used increasingly as feedstock for biofuels because it is cheaper than their locally produced rapeseed oil. Half of the EU’s 6 billion euros (RM27.6 billion) worth of palm oil imports are used for biodiesel. The market target of 2,290 may no more be a buy on dip opportunity.
It is not enough that China could retaliate by holding back their imports of palm oil.
An FB believed to have quoted an analysis from millitary trade magazine, Jane’s Intelligence Review magazine republish the article, CIA and Japan involvement in the Malaysian polls.
An extract below:
As the dust begins to settle down, a sigh of relief is felt across Southeast Asian Southeast Asian neigbors of Malaysia. China’s grand plan was thwarted and China’s pride dented. So how will China respond to its failure and economic losses?
According to some Analysts, China’s response will be swift in the coming months. China would respond by cutting its huge dependency on Malaysian Palm Oil for a start. China is the 2nd largest importer of Malaysian palm oil.
It would also discourage its citizens from visiting Malaysia which will have devastating impact on Malaysian tourism. Chinese made up the largest tourist arrival to Malaysia in the past few years.
Within a year it would escalate territorial claims on islands in South China Sea namely Spratlys Islands which is also claimed by Malaysia.
Exports from Malaysia to China will be turned away to give preferences to other asian nations. Such trade boycott will cripple Malaysian export market due to China’s huge market and the fact China is one of the largest trading partners of Malaysia.
The most worrying factor will be the huge influence that China has on ethnic Chinese Malaysians. It was China that ordered Chin Peng to lay down arms and go into exile. China may use it to its advantage by backing hawkish Chinese groups in Malaysia to mount trouble for the new government led by Dr Mahathir.
It must not be forgotten Petronas a state owned petroleum agency and other Malaysian corporations has huge commitments in Africa and in Central Asian nations where China has considerable political and military influence. It may influence those nations to kick out Malaysian corporations from doing business there and the list goes on.
The US and Japan should not bring out their Champagne bottles out yet..the Dragon will certainly retaliate.
Ringgit breakout to come
With stock market possibly going down, foreigners to sell out of their holding in our bond market and shorting of oil palm will lead to losses by oil palm plantation and small holders, ringgit will be a casualty to come.
With ringgit at around 4.00 and increasingly looking to break the medium-term psychological resistance level, it is a rather cautious prediction. The downside factor remains the uncertainty on the fiscal policy.
China is bound to retaliate against Donald Trump’s intention for hefty tariff on US$50 billion Chinese import into China. It could lead to deteriorate the value of ringgit against currencies of its major trading partner in any potential fall of the US dollar.
Malaysia has a huge reserves hidden everywhere by Najib but could it weather the change in political weather that radically changed its fundamental?
Zionist conspiracy revisited
During the financial crisis of 1997-2000, Mahathir blamed it on George Soros. He is in the habit of blaming others for his mistake so who will it be this time?
Hate to admit but without any possible explanation, it is hard to discount the possibility of a zionist conspiracy in such coordinated coincidence.
A day after the polling date, the Times of Israel reminded its readers of Mahathir’s “Jews rule the world by proxy” remark in 2003 and described him as an avowed anti-semites.
A day before he retired in 2003, Mahathir said some frank words that hit the raw nerves of Zionist Jews.
The Jews never forgotten the remark. In 2013, Jeruselem Post wrote a 10 anniversary of Mahathir’s remark. In the midst of his incessant attack on Dato Najib in 2016, Jewish owned Washington Post was still writing of Mahathir’s 2003 remark of Jews.
Ever since that remark, many in Malaysia followed suit and kept claiming Jews have hidden agenda against Malaysia.
Malaysia strong stance against Israel in defense of the Palestinian people may have attracted strong retaliation against itself from Israel or US.
For instance, US took exception on countries voted against US call on Jeruselem as Israel capital. The Times of Israel headlined it as “US says it’ll be ‘taking names’ of countries that oppose Jerusalem move at UN.”
Naturally, Malaysia is on the list.
It is haunting to be reminded of Israel Prime Minister Benjamin Netanyahu’s remark, “Countries that don’t have relation with us … they’re gonna be isolated.”
Simply because the suspicion is the sellers of oil palm may have come from Jewish-owned commodity houses and end sellers not known.
Failed start on foreign policy
Malaysian should not be lost in the euphoria and Raya festivities because it will affect food on the table for 800,000 families.
The new government have not started on the right note. Mahathir has yet to appoint anyone for the position of Foreign Minister and Trade Minister.
He has yet to re-establish ties with US and China but gone nasty on both. The former was his reluctance to meet Donald Trump.
He was back to his nasty self on the visit from Singapore Prime Minister, Lee Hsien Loong to make fun of his batik shirt.
He pulled back the previous AG’s planned submission for the review on Pulau Batu within the only possible window left in May but intend to put up an island in our waters next to Pulau Batu Putih.
More important, Mahathir has yet to renew ties with other important ASEAN neighbours such as Indonesia, Thailand, and Phillipines.
Haaretz reported Thailand, Phillipines, Vietnam and Myanmar were invitees at the opening of US Embassy in Jeruselem.
There are 32 countries that do not recognise and/or do not or have partial diplomatic relation with Israel. Among the countries are the 19 out of the 21 countries Arab League and 10 members of the OIC.
Generally, Israel do not have diplomatic relation with Muslim nations except Egypt. However, there have been individual Muslims supporting Israel’s right to self determination and the few views have been promoted by the Israel propagandist.
There are Arab countries building ties with Israel on grounds of common enemies. Jerusalem Post analysis concluded that any warm relation with Arab world can quickly turn sour
The end game?
Despite the support of Soros-funded Sarawak Report and Jewish controlled foreign media to launch attack on Najib from abroad, it is rather surprising to expect a Zionist conspiracy being applied on Mahathir.
Mahathir’s end game was only Najib but maybe it is not their’s. It is perfect timing to put pressure on the now weakened and frailed Mahathir to kneel to them.
It is a scary prospect but it is no consolation to not support Mahathir as it would not have spared Najib. At least, Najib had the support of China and friendly to many nations of the world. Mahathir does not have many friends.
Poor Tun Daim … it will eventually be left to him to clean-up Mahathir, Guan Eng and Azmin’s mess. There are even people talking in the market for the frail Daim to assume the Minister of Finance post.
That is unless it is an intentional plan to do a suicidal self-inflicted deflationary and contractionary policies.
Source: Another Brick InThe Wall