When he knew about the hole in his pants, he didn't make any effort to try patch it because he thought he was only losing a small sum of money.
Until one day he realised, he was losing to the amount of billions. And people did try to warn him about the losses, but he wouldn't listen.
Anyway, he tried to pacify himself by telling his conscience that it was not his money alone, it belongs to his people and his comrades.
Alaa...sikit jer...berapa billion jer...! biasalah hilang satu billion..setahun!
Anyway, it seems unlikely we’ll be able to make Jibby change his mind of the disappearing cash, because however hard we try, he would not listen.
Well, it's okay if the cash belongs to him and his wife, Bik Mama alone. But most of the time, the money belongs to us, the Marhaens.
The Malaysiakini report: Malaysia is world's No 5 in illicit outflows
Oooh, it sounds cool, ain’t it? Malaysia belonging in the top 5 countries in the world to be good at something!
Afraid not. It's the other way around -- Malaysia belonging in the top 5 countries in the world to be bad at something!
Illicit capital outflow means cash lost through bribery, theft, kickbacks, tax evasion, trade mispricing… that kind of not-so-cool transaction. According to GFI, developing countries lost roughly $6.5 trillion in illicit financial outflows between 2000 and 2008.
Illicit capital flows involve money that is illegally earned or utilized “and covers all unrecorded private financial outflows that drive the accumulation of foreign assets by residents in contravention of applicable capital controls and regulatory frameworks,” says the gulf newspaper, Emirates 24-7.
Asia accounted for 44.4 percent of total illicit flows from the developing world followed by Middle East and North Africa (17.9 percent), developing Europe (17.8 percent), Western Hemisphere (15.4 percent), and Africa (4.5 percent). GFI said, money which 'flew' out of Malaysia have more than tripled from 2000 to 2008.
The outflow from Malaysia in 2000 was RM67.7 billion (US$22.2 billion). Eight years later, this has ballooned to RM208 billion ($68.2 billion).
The report warned that the sharp increase of capital flight in Malaysia is “at a scale seen in few Asian countries”.
Actually this story reminds me to the proverb “a fool and his money are soon parted."
It won’t take much time for the country to go broke (because of Jibby), as this fool and this money belonging to the country will soon be parted.
___________________________________________________________
Here’s the top 10 in full so you can see for yourself, along with how much every country lost in the period:
1. China $2.18 trillion
2. Russia $427 billion
3. Mexico $416 billon
4. Saudi Arabia $302 billion
5. Malaysia $291 billion
6. United Arab Emirates $276 billion
7. Kuwait $242 billion
8. Venezuela $157 billion
9. Qatar $138 billion
10. Nigeria $130 billion
Congratulation, is this why harga Barang Naik (BN)?
ReplyDeleteI think Najib should take up the challenge for debate with Anwar. Let's make some sense out of it. Let's the rakyat hear from Najib and Anwar first hand. Got egg? or chicken first?