“Rahim has the A to Z on Anwar and can tell you everything you need to know about the nineties forex scandal. He was appointed IGP on the 16thof January 1994 and tasked with keeping a tab on Anwar, Dato’ Seri Dr Ahmad Zahid Hamidi and Dato’ Mohd Ezam Mohd Nor. It was Rahim who first notified Mahathir of Anwar’s dealings with the Americans and secret societies in Jakarta”
Raggie Jessy Rithaudeen
There is an untold story in the entire Tun Dr Mahathir Mohamad – Dato’ Seri Anwar Ibrahim saga not many of you know about. The story kicks off with the nineties forex scandal and stretches all the way through the 1997 financial crisis. Getting to know the story is getting to know why Mahathir tasked Tan Sri Abdul Rahim Noor with brokering the Thai peace talks. When the Prime Minister thought Thailand, he thought Jakarta. And when he thought Jakarta, he knew it had to be Rahim.
Why? What has Jakarta got to do with Rahim?
Let’s start with the Asian financial crisis.
Early in January 1997, George Soros directed his Italian associates at the Quantum Fund to begin stocking up on the Thai Baht. By then, the billionaire-anarchist had almost finalised the structure of a shadow syndicate dedicated to effecting regime changes in Malaysia and Indonesia. Around then, Soros was in touch with Britain’s (then) Oppostion Leader, Tony Blair, and the (then) Managing Director of Merrill Lynch, Britt Bartter. The trio got together several times to discuss the South East Asian Economy and ways to manipulate the upcoming British elections.
Paul Wolfowitz (World Bank President, 1st of June 2005 – 1st of July 2007) and Dick Cheney (US vice president, 20th January 2001 – 20th January 2009) were two names that topped an auxiliary list of financiers involved with the syndicate. The list bore references to some notable institutions, among them being the Washington based Heritage Foundation, the Soros-financed International Crisis Group (ICG) and the Cheney-run Foundation for the Future. The names of some distinguished leaders, diplomats and ambassadors appeared on this list as well.
That month, Soros and Blair agreed to destabilise the Thai Baht to cripple the Southeast Asian economy. Soros was determined turn Anwar into Malaysia’s next premier and wanted also for Indonesian President Suharto to be gone. Blair, on the other hand, was all about weakening the Thai unit to bring full circle what he and Gordon Brown started in 1992. Back then, the duo put Soros up to this massive scheme that involved the restructuring of British politics. The scheme bore fruit in September that year when the United Kingdom (UK) was forced to withdraw from the European Exchange Rate Mechanism (ERM) to prevent the Bank of England from collapsing.
An exchange rate mechanism (ERM) is a device used to manage a country’s currency exchange rate relative to other currencies. It is part of an economy’s monetary policy and is put to use by central banks. Such a mechanism can be employed if a country utilizes either a fixed exchange rate or one with floating exchange rate that is bounded around its peg (known as an adjustable peg or crawling peg).
How does Anwar fit into all this?
Anwar was not on Soros’ radars yet.
In 1992, the billionaire-anarchist had his search-lights trained on the late Tan Sri Jaffar Hussein, the then governor of Bank Negara. Jaffar was cashing in illegally on the Bank of England’s lucrative interest rates through speculative trading in the forex market. The cross-continental flow of ‘hot money’ that ensued caused Soros to suffer losses close to US3 billion. Thanks to Jaffar, investors began diverting funds from the billionaire-anarchist’s Cayman interests to partake in Bank Negara-inspired schemes. Some of the funds ended in the Bahamas in an unheard-of-bank belonging to Tun Daim Zainuddin. On the 16thof September 1992, Soros sneaked up on the Bank of England, sold short his pound reserves and caused the bank to suffer losses worth £3.2 billion.
And Daim still has the money?
Billions of it.
The money snowballed over the years and got scattered around his global banking empire. But Daim was the least of Blair’s concerns. What concerned the Labour Party politician most was the need to weaken the premiership of John Major, leader of the rival Conservative group. Blair had set his sights on premiership and wanted both Major and Labour leader John Smith out of his way. Soros, on the other hand, hoped to retrieve some of the billions Daim looted and decided to put his man in charge of the Malaysian government. It is for this reason, above all, that he began to take notice of Anwar.
Why Anwar and not Tun Abdul Ghafar Baba?
Because Ghafar was a simpleton.
He was also not as well connected as Anwar was. Soros had come to know of Anwar’s dealings with the then Chief Executive Officer and Group Managing Director of Malayan Banking Berhad, Tan Sri Ahmad bin Mohd Don. In 1993, the billionaire-anarchist began channelling a token sum of the billions he looted from the Bank of England into secret Civil Society Organizations in Jakarta. Soros planned to use those societies to help college and university students plan and organise militant groups in Jakarta. He tasked the (then) Ambassador of the United States to Malaysia, John Stern Wolf, to establish ties with both Anwar and Ahmad Don.
Because Ahmad had his tentacles lodged deep in the global banking scene and could tell Anwar off hand what Daim was worth and where his stash was hidden. Through Wolf, Soros got Anwar to stockpile on details but forbade him from divulging them. Anwar was told that he would be made Prime Minister before 1998 provided that he helped sabotage Mahathir and Daim. In July 1993, Anwar told the lower house of Parliament that he directed Bank Negara to stop forward forex trading upon discovering that the central bank had suffered losses. Now, take a read of what Kit Siang had to say about this:
At the time when I raised the Bank Negara forex losses in the House, the then Prime Minister, Dr. Mahathir said the forex losses came from profits made in forex dealings in preceding yearswhile the then Finance Minister, Datuk Seri Anwar Ibrahim, that the Bank Negara forex losses were mere paper losses.
Former premier Tun Dr. Mahathir Mohamad is now an advocate of accountability and transparency, declaring that Official Secrets Act should not be used to hide untruths. He should be taken at his word, and all secret documents on the Bank Negara forex losses of 1992-1994 should be declassified so that Malaysians can finally know the truth of what is probably the biggest mega-financial scandal in the nation’s history.
Anwar may not be in the loop at the time although he was Finance Minister, with regard to whatever overriding agreementsMahathir and his then loyal economic adviser, Tun Daim Zainuddin, devised with other corporate high-flyers to salvage Bank Negara, but Anwar has now the opportunity to throw light of what he knew about the colossal Bank Negara forex losses when he was Finance Minister and how these paper losseshad triggered off other mega-financial scandals like the RM1.8 billion MAS-Tajudin privatization scam.
In other words, Anwar lied.
And Rahim Noor? How does he fit in?
Rahim has the A to Z on Anwar and can tell you everything you need to know about the nineties forex scandal. He was appointed IGP on the 16thof January 1994 and tasked with keeping a tab on Anwar, Dato’ Seri Dr Ahmad Zahid Hamidi and Dato’ Mohd Ezam Mohd Nor. It was Rahim who first notified Mahathir of Anwar’s dealings with the Americans and secret societies in Jakarta…
To be continued…