Rightways

Tuesday, December 3, 2019

More heartaches than happiness

Many investors get their fingers burned in dubious money-making schemes

M Mall in Penang where MBI investors can exchange their virtual coins is now almost deserted.

IT may seem like it was not so long ago that money-game was practically on everybody’s lips especially here in Penang,

My close friend even invested in MBI Group International which was one of the most popular investment schemes then.

At its peak, one would be considered the odd one out for not investing in the scheme.

How times have changed. Now, my friend is telling me that he has not heard from his upline for months.

It was a far cry from the time when the upline would tell him how good the scheme was, and even spell out a time frame to cash in on the investments.

Most investors have now resigned to the fact that their investments are as good as gone. They feel ashamed to lodge police reports and many just suffer in silence for fear of people teasing them.

However, their counterparts from China were less forgiving.

In October, hundreds of them staged a peaceful protest near the Chinese Embassy in Kuala Lumpur. Wailing and sobbing, they urged the Chinese government to help them recover the hundreds of million ringgit they had invested in the Penang-based company.

In Penang, several groups of Chinese investors also vented their frustration at a hotel and the jetty of an island resort here, where both properties are said to be associated with the company.

The last we heard, three of them even went to the extent of dropping fake bombs at a house in Bukit Gambier out of desperation.

The house belongs to the son of MBI Group International founder Tedy Teow. Luckily, no untoward incidents took place.

Another friend of mine told me that he started believing in karma after putting faith in the money- game.

He is now convinced that what goes around, comes around. This is his story.

He put in a sum of money in BTC I-system, a scheme which claimed to invest in bitcoin digital currency.

Without even knowing how the investment works, he managed to get back his capital within two months, plus a few thousand of ringgits extra in the next few months. Then the scheme collapsed.

He then took the plunge again in another scheme. He was confident of easy money again, especially after being told he was among the first few to join the investment. He was not so lucky this time.

The profit that he got in the first investment ended up paying for the second scheme that went bust.

I have seen many people whose relationship with family members had become strained all because of these dubious schemes.

Direct Selling Association of Malaysia (DSAM) president Datuk Tan Chong Guan reminded the public that there is no free lunch in this world.

“Where there is no sales but a return is promised on investments, this is a sign that it is a money-game, or a pyramid scheme, ” he was quoted then.

If you still could not figure out or get a clear explanation on how the investment will make money, then you better opt out.

If it involves any chain-recruitment that offers commissions for bringing in new affiliates, or sophisticated or complicated investment schemes that sound too alien, then you better avoid it.

Always remember that one has to work hard to earn one’s keep.

But believe me, money-game would always re-emerge in other forms, just like the online scams as long as there is human greed.

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Related posts:

Malaysian authorities crack down on virtual money operator, MBI Group International

https://youtu.be/zzn4zLtw_p8

Smooth operation: Domestic Trade, Co-operatives and Consumerism Ministry enforcement director Datuk Mohd Roslan Mahayudin (centre) giving a press conference on the raids which yielded luxury vehicles and cash. Despite the crackdown by the authorities, investors continue to patronise M Mall, which is operated by MBI.

Dawn raids on MBI

Key member of MBI Group International remanded 98 bank accounts containing RM209mil frozen to date Three luxury cars and cash seized

Two virtual coin get-rich schemes red-flagged by Malaysian Central Bank

With the inclusion of the two investment schemes run by a company with international investors, there are now 302 firms in Bank Negara’s financial consumer alert list.

Read more

Sunday, December 1, 2019

The ‘deep state’ is hard to dismantle

In the United States, President Donald Trump alleges that the “deep state” was in play to undermine his presidency. Towards this end, he blamed the “deep state” for the scandal involving Ukraine where he supposedly told his counterpart to step up the investigation into the affairs of his political rival Joe Biden and his son in that country

THE term “deep state” is new to many. However, one thing is becoming clear – it is a tool that politicians are increasingly using as an excuse to camouflage their short-comings.

In the United States, President Donald Trump alleges that the “deep state” was in play to undermine his presidency. Towards this end, he blamed the “deep state” for the scandal involving Ukraine where he supposedly told his counterpart to step up the investigation into the affairs of his political rival Joe Biden and his son in that country.

In Malaysia, politicians of Pakatan Harapan contend that the “deep state” is in play and was sabotaging the efforts of the government to carry out its plans and promises.

For all the negativity that the “deep state” has invoked in Malaysia, this informal group of senior diplomats, military officers and civil servants have earned the praises of the masses in the United States. This comes hot under the heels of the testimonies of Trump’s former advisor on Russian affairs, Fiona Hill and Ukraine embassy political counsellor David Holmes in the impeachment hearing of Trump for his role in Ukraingate.

In many ways, Malaysia has its own hero in Nor Salwani Muhammad, one of the officers who worked for former Auditor General Tan Sri Ambrin Buang.

Nor Salwani told a court hearing how she secretly left a tape recorder to capture the conversation of Malaysia’s top civil servants, in a meeting called by former Chief Secretary to the Government Tan Sri Ali Hamsa, on doctoring the audit report of 1Malaysia Development Bhd (1MDB).

The audit report deleted four important points before it was tabled to the parliamentary Pubic Accounts Committee (PAC).

People such as Nor Salwani, Hill and Holmes are part of the executive who have played a pivotal role in checking the wrongs of politicians when they run the country. Trump has described the testimonies of Hill and Holmes as the workings of the “deep state”.

In Malaysia, Nor Salwani is regarded as a hero. However, she comes from the executive wing of the government that some politicians regard as the “deep state”. In the United States, Trump feels that the military, diplomats and some from the private sector were working together to undermine him and has labelled them as the “deep state”.

But does the “deep state” really exist as a formal structure or is it just some loose alliances of some segments of unhappy people serving the government?

Nobody can really pinpoint what or who actually are the “deep state” in Malaysia. It is not an official grouping with a formal structure. It generally is seen as a movement that is a “government within a government” pursuing its own agenda that runs in contrary to what the ruling party aspires.

It is said to largely comprise the civil service working well with the police and the different arms of the judiciary. Some contend that the “deep state” is closely aligned to Barisan Nasional.

The term “deep state” was coined in Turkey in the 1970s and it primarily comprised the military and its sympathisers who are against the Islamic radicals. In recent times, even the powerful President Recce Tayyip Erdogan complained that the “deep state” was working against him.

Which raises the question – if the “deep state” was so influential, how did the Turkish president get himself re-elected in 2018?

In Malaysia, the ruling Pakatan Harapan party has blamed the “deep state” for some of the incidences such as the arrest of several people, including two DAP state assemblymen, under the Security Offences (Special Measures) Act (Sosma). Deputy Rural Development Minister R. Sivarasa contended that the “deep state” was responsible for the arrest and it was done without the consent of the top leadership.

Other ministers have blamed the movement as sabotaging their efforts to deliver on their promises to the government. Towards this end, speculation is rife that there would be a round of changes in the civil service to dismantle the “deep state”.

Some have even pinned the commando style abduction of pastor Raymond Koh and the disappearance of social activist Amri Che Mat on the “deep state”.

If the “deep state” was really in the works, it seems like the government would be facing a humongous task to dismantle it.

Firstly, nobody is able to pinpoint who these people are except that they apparently have tentacles at every level of the executive and in the police and probably military. Secondly, if the so-called `deep state’ is essentially made of the civil service, then they have done some good work to help uncover the cover up work of senior members of the executive wanting to hide the 1MDB scandal.

In reality, it will be hard to dismantle the much talked about `deep state’ in Malaysia. Many do not look out for riches or fame. It is likely that they are more driven to seeing what is best for the executive branch of the government.

A more practical approach would be to work together with this movement of individuals, if they can be identified, and find out the root cost of them being unhappy with the government.

Only 18 months ago, the “deep state” was very much against former prime minister Datuk Seri Najib Razak and his efforts to cover up the massive debt that 1MDB accumulated. The money was largely raised outside Malaysia and diverted to entities under the control of fugitive, Low Taek Jho better known as Jho Low.

There were countless reports on 1MDB that were leaked through the social media. From banking transactions of money going into the account of Najib to pictures of him on holiday with his family and Jho Low were made available on the social media.

Isn’t this also the work of some clandestine movement within the executive that some deem as the “deep state”’?

Consider this – even in Turkey, where the word “deep state” was coined, many believe it is still in works, protecting the country’s interest. In the United States, there is a view that the “deep state” is the gem in the government.

The government can make as many changes as it wants on the civil service or agencies under its watch. However, it is not likely to wipe out the “deep state” movement.

The views expressed are the writer’s own. Source link

Read more:

Deep state - Wikipedia

Deep state in the United States

'High cost of living due to weak ringgit'

Malaysia's lost strength

Graduate's 'Nazi salute' convocation picture goes viral

image: https://apicms.thestar.com.my/uploads/images/2019/11/26/405741.jpg

Nation

Chin Peng’s ashes and Hitler salutes

image: https://apicms.thestar.com.my/uploads/images/2019/12/01/413656.jpg

Mari Ponteng for MP

Friday, November 29, 2019

China outraged by US law on Hong Kong

Beijing slams meddling in internal affairs

The nature of this is extremely abominable, and harbours absolutely sinister intentions. Chinese foreign ministry statement

https://youtu.be/noOKupbGAbk

https://youtu.be/YldbrQ91n3U

https://youtu.be/mp74Fy-X9bo

https://youtu.be/787fWT43tzk

https://youtu.be/fuEgStQS3KU

HONG KONG: China summoned the US ambassador and threatened retaliation after US President Donald Trump signed legislation supporting Hong Kong protesters, just as the world’s top two economies edge towards a trade truce.

Trump signed the legislation under heavy pressure from Congress, where it attracted rare bipartisan support, and in a statement spoke of his “respect” for Chinese President Xi Jinping, calling for both sides to “amicably settle their differences”.

But Beijing lashed out furiously, summoning the US ambassador, threatening unspecified “firm countermeasures” and warning Washington not to implement the legislation.

“The nature of this is extremely abominable, and harbours absolutely sinister intentions,” the Chinese foreign ministry said in a statement.

“China strongly urges the US side to correct mistakes and change course,” the ministry added later.

In Hong Kong, the government expressed “extreme regret” after Trump signed legislation requiring an annual review of freedoms in Hong Kong and banning the sale of crowd control equipment like tear gas.

“The two acts are obviously interfering in Hong Kong’s internal affairs,” the city government said in a statement, warning the move would “send the wrong message to the protesters”.

And Beijing’s liaison office in the city condemned Washington’s “disgusting conduct”, saying it would bring “trouble and chaos” to Hong Kong.

Hong Kongers have protested in huge numbers over the last six months.

The territory’s leaders have offered few concessions and police have cracked down on protesters in increasingly violent clashes.

More than 5,800 people have been arrested and nearly 1,000 charged, with detentions skyrocketing in the last two months.

Yesterday, police entered the campus of the Hong Kong Polytechnic University, to which they have laid siege for days.

Most protesters have now left, some of them arrested and beaten as they tried to flee, and police were collecting evidence including Molotov cocktails and archery bows at the ransacked site.

The violence has done little to dampen public support though, with pro-democracy candidates winning a landslide victory in local council elections over the weekend.

The Hong Kong Human Rights and Democracy Act requires the US president to annually review the city’s favourable trade status and threatens to revoke it if the territory’s freedoms are quashed.

Trump also signed legislation banning the sale of tear gas, rubber bullets and other equipment used by Hong Kong security forces in putting down the protests. - AFP

Read more:.

Hong Kong society needs to jointly resist US provocation

“One country, two systems” is China's independent constitutional arrangement and US intervention damages its external environment. Hong Kong society should be vigilant. To maintain “one country, two systems,” the Chinese mainland and the HKSAR need to work together. Anyone who colludes with external forces to undermine “one country, two systems” must pay a heavy price.

US move on Hong Kong dims deal hopes

US President Donald Trump's decision to sign a bill into law that interferes with China's internal affairs related to Hong Kong has cast a cloud over prospects for a highly anticipated phase one trade deal, with Chinese experts warning Washington of countermeasures if it attempts to link Hong Kong affairs with the ongoing negotiations.

Greater connection to the mainland would safeguard HK stability

If China can take the initiative in its competition with the US, it would build confidence among Hongkongers and inspire them to love the country while making the mainland more attractive from their perspective.

Pompeo's futile efforts to discredit CPC

The CPC has led Chinese people to be truly independent, realize great economic growth in the past decades, fundamentally reshape people's livelihood, and regain dignity in the world. The CPC has dedicated itself to the great rejuvenation of China. This is a consensus of Chinese people, and many Westerners cannot imagine how unshakable it is.

Time for HK pan-democrats to build consensus

Pan-democrats gained more seats, but they should maintain political sobriety. The young newly elected, in particular, should keep a distance from those who betray the country and Hong Kong, and have the courage to explore a new political path in accordance with the “one country, two systems” principle. Hong Kong is a part of China, and never will it belong to the US or the West. Only by keeping this in mind and acting accordingly will they have a solid political career.

China needs to counter Western public opinion war

The most effective way to counter US public opinion war against China is to raise our voices while doing our own things well. We must strengthen our ability to expose slander and Western lies. Since the US launched the trade war with China, China has been expanding its openness while fighting back. China's image in international trade is becoming increasingly better than the US' and people can see it.

Related posts:

US's ‘Support Hong Kong Violence Act’ condemmed

https://youtu.be/D6bjbxpQEXY https://youtu.be/CjtqiO8LZTU https://youtu.be/H4KneU4Q-Wg The US Senate on Tuesday unanimously pass...

Hong Kong youth deceived by West: ‘I go to Yale, you go to jail’ mocks agitator followers

Inside America's Meddling Machine: NED, the US-Funded Org Interfering in Elections Across the Globe https://youtu.be/NzIJ25ob1aA

Exclusive: How the US is pushing HK's protesters to attack China, overthrow: 100 Years of U.S. Meddling & Regime Change, from Iran to Nicaragua to Hawaii to Cuba

https://youtu.be/Dl1xwIdQhDU

'We lied, we cheated, we stole', ‘the Glory of American experiment’ by US Secretary of State/Ex-CIA director Mike Pompeo

https://youtu.be/DPt-zXn05ac

Thursday, November 21, 2019

US's ‘Support Hong Kong Violence Act’ condemmed

https://youtu.be/D6bjbxpQEXY

https://youtu.be/CjtqiO8LZTU https://youtu.be/H4KneU4Q-Wg

The US Senate on Tuesday unanimously passed the "Hong Kong Human Rights and Democracy Act," a move that seriously tarnished sacred terms like "human rights" and "democracy." The bill's real title should be "Support Hong Kong Violence Act" as it has overtly taken sides with rioters who are destroying the rule of law in Hong Kong. And it has targeted the Hong Kong Special Administrative Region (HKSAR) government and Hong Kong police, who are struggling to prevent chaos from turning into anarchy.

The core of the new US bill is to oppose HKSAR government's efforts to stop violence, end chaos as well as to prevent the Chinese central government from saving Hong Kong under any circumstance. The most prominent clause subjects the city to an annual review for its special trade status, which would strip Hong Kong of the status.

Some opposition figures in Hong Kong stupidly kowtow to Washington and express their gratitude for US support for the radical protesters' "democracy struggle." But if the US imposes economic sanctions on Hong Kong, all Hong Kong people will have to bear the consequences.

Once the bill is signed by the US president, subtle changes will take place in Hong Kong's international business environment, because of the uncertainties caused by the US. American investors in Hong Kong will panic, and the city's geoeconomic status and function will be reevaluated.

Some may expect this to deter Beijing. Such thinking is naïve. Hong Kong is in a mess, but the country hasn't intervened so far.

Instead, the Chinese central government encourages the city to stop violence and end chaos under the leadership of the HKSAR government, solve the conundrum under the framework of the Basic Law and not use the provisions of the Basic Law for emergency situations.

However, if the chaos continues, even paralyzes the city and destroys ordinary people's lives, how can the central government not intervene?

Passing the act is the US attempt to disrupt the People's Republic of China's governance over Hong Kong, weaken the HKSAR government, and compel the police to be afraid of cracking down on radical rioters in accordance with the law.

The US is hoping that Hong Kong falls into disorder for a long time. If we take this US bill seriously and shrink from tackling riots, Hong Kong will suffer from an accelerated collapse of the rule of law and be erased from the modern world.

Hong Kong has long acted as an interface linking China and the West. The US move will undermine that function of the city. But no matter what challenges Hong Kong will have to face, it will be far better than what it faces now: Streets are full of roadblocks; subway stations are burned; schools cannot re-open; and many businesses are forced to stop.

If riots continue, Hong Kong is doomed. The threat from the US is much less than the damage the city is currently suffering.

What the bill brings is not fear, but anger. People see certain US politicians' malice against Hong Kong and the entire China between the lines.

It is believed that with the central government's support, Hong Kong will resolutely reject the US threat. Hong Kong's special trade status is entitled by the Basic Law. The US attitude does not represent the international community's. Hong Kong's future is bound to that of the entire China, instead of the US.

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Read more:

China ready to 'fight back' over US Hong Kong bill

https://youtu.be/jfgbg4Be4sA

China ready to 'fight back' over US Hong Kong bill

US Senate's passage of HK 'rights act' condemned | The Star ...

image: https://apicms.thestar.com.my/uploads/images/2019/11/21/397785.jpg

Strong words: Yang said the passage openly supported protesters and radicals in Hong Kong and completely exposed the hegemonic nature of some politicians in the United States. — Reuters

Related posts:

Exclusive: How the US is pushing HK's protesters to attack China, overthrow: 100 Years of U.S. Meddling & Regime Change, from Iran to Nicaragua to Hawaii to Cuba

https://youtu.be/Dl1xwIdQhDU

'We lied, we cheated, we stole', ‘the Glory of American experiment’ by US Secretary of State/Ex-CIA director Mike Pompeo

https://youtu.be/DPt-zXn05ac

US Secretary of State Mike Pompeo: "I was the CIA director. We lied, we cheated, we stole. We had entire training courses. It reminds you of the glory of the American experiment."

Pompeo said this at an event at Texas A&M University on April 15, 2019. Here is the official State Department transcript:https://www.state.gov/secretary/remar....

https://thegrayzone.com Support our original journalism at Patreon: https://patreon.com/grayzone Twitter: https://twitter.com/grayzoneproject Facebook: https://facebook.com/thegrayzone

Hong Kong Riots, engineered by CIA, nothing but true!

Inside America's Meddling Machine destabilizing the world order

https://youtu.be/NzIJ25ob1aA

Hong Kong's social problems stem from British rule, faces risk of Beijing rule as UK's ‘toothless threat’ against China

Hong Kong's youngters barking up at the wrong tree: preaching the West's cheats, divide-and-conquer, farce hearing ! https://youtu.be/n9Modr_sVr0

Hong Kong youth deceived by West: ‘I go to Yale, you go to jail’ mocks agitator followers

Inside America's Meddling Machine: NED, the US-Funded Org Interfering in Elections Across the Globe https://youtu.be/NzIJ25ob1aA

Behind Hong Kong's chaos lie deep-seated social ills

Hong Kong in decline

Wednesday, November 20, 2019

Blockchain: Internet of Value/ Currency of Trust; Private cryptocurrency a misallocation among blockchain technology, say research & economist

Blockchain embodies the internet of value. How will it revolutionize our lives and our pockets?
And, we look at the qualities Blockchain needs to spark mass adoption.

https://youtu.be/oJGVvJS0A0I

Blockchain, one of the buzzwords in technology, is set to rise in China. Recently, Chinese President Xi Jinping underscored the fledgling technology as the country increasingly views Blockchain as key to future innovation. Has a digital game changer arrived? How will a boom in Blockchain impact our lives? Today we delve into the world of the new technology and talk to Don Tapscott, co-founder and executive chairman of the Blockchain Research Institute, to find out more.

https://youtu.be/DCLqWpXFE2o

Currency of Trust

Blockchain has the potential to be revolutionary. But, what hurdles must it overcome before it can hit the mainstream? In London, we invited Patrick McCorry, founder and CEO of PISA Research, a grant funded by a group of Blockchain companies, to decode this ever-changing world.

https://youtu.be/A2IDapvfUTM

https://youtu.be/41hPRCnUCtI

https://youtu.be/8H-pJ9hs9I4

Private cryptocurrency a misallocation among blockchain technology, says economist

Cryptocurrency is digital-based cash among the internet world nowadays. Born from blockchain, this kind of "currency" is blooming in terms of high privacy. Acknowledging that, Nobel Prize-winning economist and Harvard professor Eric Maskin commented that private cryptocurrency is a misallocation.

"The most important application of blockchain so far has been cryptocurrency, and that is a terrible misallocation. In my view, cryptocurrency, at least private cryptocurrency like bitcoin is a mistake," said Maskin.

"Because the public currency like RMB and U.S. dollar are much more useful than private currency. [Public currencies] they preserve the power of central banks to conduct monetary policy. If no one is using the dollar, then the U.S. monetary policy is useless. So I'm worried about cryptocurrency only to the extent that it reduces the use of currencies like RMB or dollar," he added.

He also pointed out that cryptocurrencies could interfere with central banks' monetary policies.

Meanwhile, Maskin supports the idea that blockchain is a technology. He noted that it is one of the exciting developments that have come along in recent years.

"Blockchain can make all sorts of transactions much easier and much more secure. It can also ensure that only the information that people need to have gets transmitted," said Maskin.

"Blockchain is a way for me to guarantee that only what you need to about me gets told. And that's valuable in a world where we're beginning to worry about privacy issues," the professor explained.

Besides, Maskin supports building the country's own digital currencies. With the backdrop of e-payment booming around the world, Maskin said the digital currency can make transaction easier but it won't have all of the unpleasant side effects of these private currencies.

Source link

Read more:

Blockchain with Chinese characteristics

Companies say blockchain applicable in healthcare, charity, taxation

China's engagement facilitates blockchain development

Using blockchain to fight food fraud

Naming and shaming: No to U.S. legislative bullying

It is not new for the U.S. to use its domestic laws as a potent weapon against a rival country.

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Internet Protocol Version 9 第一代互联网 IPv9, Quantum Computing, AI and Blockchain: The Future of IT

Sunday, November 17, 2019

Say ‘no’ to incompetent government, message from Tanjung Piai by election!

https://youtu.be/FaO25i3biEE

https://youtu.be/ZgKFqcG5twc

https://youtu.be/d2DyEfvsIwc

The message from Tanjung Piai is really quite simple and straightforward.

The Malays are willing to vote for BN, MCA, PH or PPBM. To them, which party or coalition to vote for is secondary. Increasingly, they want a government that can work for them, not just good in hoodwinking.

Some pundits claimed that it was Umno-PAS union that pulled the Malay votes for BN. I would prefer to think that it is the “push factors” to vote against PPBM and Pakatan Harapan that caused the swing.

Frankly, I think most are quite fed-up with the PH government by now. Many must have paused to ask themselves which aspect of their life has become better since May 9, 2018.

Maybe they couldn’t find any other than the continued intrigues and infighting within PH component parties.

The Chinese, too, can vote for different candidates and different coalitions at different times. To them, it does not matter if it is PPBM, PH, BN or MCA. It shows Chinese Malaysians are not racist. They just want to be treated fairly; it does not matter which race represents them in the government.

PPBM, Amanah and PKR need to be reminded that the Chinese are not leftovers; they are productive citizens.

No one wishes to be insulted, so let no one tell the Chinese to go back to China again. This is totally unacceptable.

The Chinese value their children’s education very much because they know they can’t depend on the government for jobs. So, forums and congresses threatening to shut down certain schools should stop.

They want multilingual education for their children, so stop telling them what language they can or cannot learn. If the government cannot protect the minority, it does not deserve support, period.

Finally, all Malaysians – Malays, Chinese, Indians and others – hate an incompetent government. So stop talking about flying cars, third national car, crooked bridge, Kulim Airport which is a stone’s throw from Penang, and endless plans for Penang.

TK Chua is an FMT reader.

Read more :

Tanjung Piai a wake-up call for Pakatan