Treasury Announces $1 Trillion Plan to Buy Banks' Bad Debt

Finally, the Obama administration unveiled its long-awaited plan to remove toxic assets from the books of the nation's banks.

And the next question would be: Does this works?

The $1 Trillion announced was not a small amount. If this measure failed, then, the whole of US sure would go into deep trouble (although now US is boiling the water over 100 Celsius).

This is because, US largest creditor - China - would be more concerned about their investment in US treasuries of over a trillions. China had voiced out their concerned lately. And, US re-assured to the world regarding their sound economic conditions. Then, USD had started to weaken against major currencies in the world.

I would rather asked: How safe was my investment in US treasuries?
If i get back my money with much less value, there is no point investing my money there !!!

Anyway, one thing is for sure. This $1 Trillion plan to remove toxic assets from banking system is the way forward to rescue banks from further write-downs.

March09: Singapore Dollar will fall in April ???

YES... Attention to all working adults in Singapore, especially Malaysians.

Now, im writting this in March 2009, and if this is true, it would be bad news for Malaysians in Singapore.
Bad news 1: Singapore in recession since 2008
Bad news 2: Retrenchment and salary-cut is going and on...
Bad news 3: Our hard earned $$$ are becoming lesser against USD

Below is the facts:
1. Singapore main revenue (export market) had fallen on a double-digit basis
2. Singapore government most likely will further lower already low interest rate to spur economy. In other meaning, not attactive to hold SGD.
3. Cost of pump-primming projects would widening the figure of budget deficit, which needs several years to recover.

Now, the FX rate is SGD 1 = RM 2.4, which is a good rate to convert it into RM.
So, it is time to move your SGD now.

Proven: http://biz.thestar.com.my/news/story.asp?file=/2009/4/7/business/3643051&sec=business
Please take note of the DATE !!!