Should the RCI waste its time on Mahathir?

So why does Mahathir want to waste the time of the RCI by testifying and then say he does not remember what happened, he was not involved, Anwar Ibrahim knows more, go ask Daim since he was the Finance Minister back in the late 1980s when Bank Negara started gambling billions on the forex market, etc?


Raja Petra Kamarudin

On 15th February 2017, the Cabinet set up a Special Task Force to prepare the groundwork for the setting up up a Royal Commission of Inquiry (RCI) to investigate the US$10 billion loss (now worth RM99 billion) that Bank Negara suffered from the late 1980s to the early 1990s gambling on the forex market.

At that time Bank Negara acquired a reputation of being the most reckless and the biggest gambler in the world. When George Soros saw that Bank Negara was very exposed, he stepped in and with just a few billion in borrowed money he wiped out Bank Negara in a matter of weeks.

The Opposition Leader in Parliament, Lim Kit Siang, found out about the disaster and in 1993 he asked the Finance Minister, Anwar Ibrahim, about it. Anwar denied it and called it opposition lies and slander.

But the mess was too big to hide and soon the stink came to the surface. In 1994 Kit Siang again asked Anwar about the matter and this time the Finance Minister said that the loss was not that big as reported, it was only a paper loss, and that the culprit, the Bank Negara Governor, had been punished for it.

Today we know all that is a lie. Hence the RCI needs to find out what really happened, how huge the loss was (which may even be more than US$10 billion if other factors are taken into consideration), and who were the people really behind this. Furthermore, was the entire US$10 billion really lost on the market or was some money syphoned out and disguised as forex losses? There is a suspicion that the forex losses are a camouflage for other crimes, such as money taken out the back door in the middle of the night.


Tun Dr Mahathir Mohamad is worried that finally his goose may be cooked. If Anwar Ibrahim testifies at the RCI and confirms that Mahathir and Tun Daim Zainuddin appointed him the new Finance Minister in 1991 for the sole reason of burying the losses that Bank Negara suffered, then that is the end of Mahathir, together with his political and business dynasty.

And that is what Mahathir fears the most. The sins of the father will fall upon the children and Mukhriz, Mokhzani and Mirzan are going to pay for what Mahathir did, maybe even Marina as well. But then the matter is no longer under Mahathir’s control and he is going to suffer the same fate as what he did to Prime Minister Najib Tun Razak regarding the 1MDB matter.

Those who live by the sword die by the sword. And Mahathir is going to find out that others can wield a sword as skilfully as he can, or maybe even more skilfully. And while Mahathir thrusts and parries his sword, Najib is going to swing it and with one swoop cut off his head and the heads of this three sons together.

When someone declares a fight to the finish and only one man standing at the end of it, then expect a fight to the finish with only one man standing. That was what Mahathir wanted and that was what he declared. So he must now suffer the fate of his own doing. He has made his bed and he will have to lie in it. As they say, karma is a bitch, and this time no white woman in London can help Mahathir get out of this one for whatever millions Mahathir may be paying her.




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