FOOD FOR THOUGHTS!!! THINK ABOUT IT CAREFULLY!!! Chong Wen Wah Hardware.zone Is CPF a PONZI SCHEME? Quote by a forum reader, Private First Class. I just found out from my friend, who is a finance professional, the meaning of PONZI SCHEME. We discussed the case of SUNSHINE EMPIRE where the boss ended up being charged. Basically a PONZI SCHEME is an investment scheme that doesnt actually make money from investmetns. Rather, it takes money from later investors to pay to earlier investors (with returns + capital) to create the impression of high returns from investment. My first question was: IS CPF A PONZI SCHEME? No one actually knows where our CPF money is going since they dont publish details of accounts. But we KNOW that they lost billions of our CPF money in overseas investment such as Suzhou, Hangzhou, Shin Corp, Merrill Lynch, Standard Chartered Bank. In fact, they even admitted that there was a lost. So, if they are actually LOSING money, then where are they getting the money to pay out when people withdraw their CPF at age 65?? Answer: from the contribution of CPF investors who are younger. Who in turn get reimbursed by younger generations later on etc. So the thing is, is THIS WHY they are increasing the CPF withdrawal age from 62 to 65, to delay payouts??? Second thing, is THIS WHY they are SO concern with the greying population, because in a few years time there will be MANY more people withdrawing their CPF with not enough funds injected from the younger generation?? And they have to fight this problem by getting in FTs to becoming Sinkies to bolster the CPF fund??? In order to pay out those older ones who turn 65?? Thirdly, is this a SKELETON IN THE CLOSET which is why they are so frightened of oppositions coming into power, to the point that LKY threatened to send in the army in case of a FREAK RESULT?? Answers are desired please... anyone can comment? Unquote.
Posted on: Fri, 16 Jan 2015 12:15:56 +0000
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