Originally posted by maurizio13:
Also take note of the MAS annual report 2007, our "Gold and Foreign
Exchange" is SG$208,202.1 millions and the "Total Foreign Reserves"
US$137,735.7. If you multiply the US$137,735.7 by the exchange rate
US$1 = SG$ 1.51, you get the SG$208,202.1 in "Gold and Foreign
Exchange" which means that the majority of our reserves in "Gold
and Foreign Exchange" is in US dollars (which might include US
treasury bills, US bond, US equities, etc).
The annual report from MAS states "Gold and [b]Foreign
Exchange" at SG$208 billions, if it was held in other
currencies, then you won't get a perfect exchange rate figure of
US$1 = SG$1.51 when you divide SG$208,202.1 by US$137,735.7.
Do the maths and tell me the answer.
[/b]
As you can see, this dick head M13 is trying to twist and turn
facts again.
This is what he posted earlier.
Our US$ reserves held by MAS
stood at US$ 138 billion as on March 2007. FYI, US
is one of Singapore's major trading partners, what better currency
to hold than US$.
This is classic example why I say that he is one of the worst
accountant you can find in this planet.
Obviously the only people that is going to try defend him will be
the SHEEP.
