Bretton Woods, Gold, and the current monetary system

The current global monetary system is the first ever experimental, truly global fiat currency system totally unbacked by gold. In this article, I describe how this system evolved from the former Bretton Woods system established after World War II. Nicknamed Bretton Woods II, the current system has become notorious for engendering asset prices bubbles, periodic… Continue reading

A crisis of leadership at the PAP

When so many of PAP’s policies have gone wrong, and the PAP still refuses to change course, then men and women of high caliber start to shun the party and refuse to be recruited into its ranks, no matter how high ministerial or public service salaries are. Good men and women do not want to be associated with a political entity that is increasingly being seen as a creator rather than a solver of problems, a party that is seen as making lives harder for Singaporeans.