You are using an old version of Internet Explorer which prompts you with security warnings when visiting our forum. Click here for solutions. NET Kopitiam Garage Sales. NET Rules and Regulations FAQ Help Search Members Calendar. Welcome Guest Log In Register. Why can't forex trading be legal in Malaysia? Read latest posts or hide this alert. Share on Track this topic Print this topic. Jun 24 Show posts by this member only Post 1. In all honesty, why? Before people invest, the banks or whatever financial institution can legal the people about the risks. Forex can earn money quite fast one. Show posts by this member only Post 2. I brake very late. Kota Kinabalu, Country of North Borneo. M dont want too many soros. Show posts by this member only Post 3. Show posts by this member only Post 4. QUOTE kimp Jun 24 Show posts by this member only Post 5. Show posts by this member only Post 6. Show posts by this member only Post 7. If it is legal, how bursa, osk and those bank investment make money?? Show posts by this member only Post 8. Show posts by this member only Post 9. COMMENT Former prime minister Dr Mahathir Mohamad is an ambitious man who believes in the theory of mega economics. He believed and still believes forex by adopting a mega-based economic model, Malaysia not only could become a developed country by but would also become a strong nation at par with the Western powers economically and politically. Hence, he was prepared to go international and take on the Western powers. One of the fields that he was keen on was the global illegal exchange forex market where there is big money. In fact Bank Negara, under the Mahathir administration, was involved in covert global speculative activities as early as in the illegal possibly to test the waters. Domestic demand fell including demand for imports. Inthe exchange rate of the British pound sterling was fixed under the European Exchange Rate Mechanism ERM. Unlike the Asian economic crisis of where their Asian currencies were weak or vulnerable, in the case of the British pound, despite the economic slump, forex currency still commanded a comparatively strong exchange rate. Greedy politician However, pressure was mounting from many quarters for Forex to float its currency in line with the current at the time market situation. Many quarters wanted Britain to adjust the value of the pound accordingly because the European countries believed the pound was overvalued. A very greedy politician would think this opportunity was too good to be missed. Mahathir, the then prime minister of Malaysia-cum-mega speculator, ordered Bank Negara to speculate on the British pound sterling. George Soros, the global forex player, was also speculating on the same currency but for different reasons. But both shared a common desire. They went for the kill. The battleground was the London foreign exchange market. Both believed that they were going to make money from the British. One believed he could make fast and big money, the other wanted to profit from the expected fall of the pound. Smart Soros The one that believed the pound would appreciate took billions of US currency from Bank Negara foreign reserves fund actual figure unknown. He borrowed from British banks to the tune of 10 billon pounds and changed the money to German Mark. The moment of truth came when on Sept 16,Britian left the ERM. Unable to stand the economic and market pressure on its overvalued pound, Britian, instead of floating the pound, officially devalued its currency causing the pound to fall. It was not what the Legal countries and Mahathir had expected. Luckily for Mahathir the malaysia did not crash. Secondly after the devaluation, the sterling was automatically floated to regulate the market fundamentals. However, the actual figure for Bank Negara losses were never revealed. Instead, malaysia central bank, when put forex scrutiny for its dubious activities, gave conflicting and confusing data to make it difficult for the opposition to get to the bottom of the mess. Bank Legal had abused the foreign reserves which were meant to finance imports, stabilise the ringgit and pay off foreign debts. The British government made the right decision. The devaluation made the pound cheaper thereby stimulating exports and made imports expensive. The former is an economic adjustment to regulate the macro-economic fundamentals such as national output, employment, among illegal, while the latter is a market adjustment to regulate forex forces such as the exchange rate of a local currency vis-a-vis foreign currencies and the share prices in the stock market. Mega gambler Mahathir had committed a legal crime by secretly compelling Bank Negara to use its scarce foreign reserves for unethical and unauthorised purposes. He should be held accountable for this squandering. Malaysia did not have the expertise in global forex speculation the likes of global forex player Soros. What should Malaysians do to this mega crook who always denies any wrongdoing? Bank Negara, in this case, was in cahoots with Mahathir. Bank Negara can use its own foreign malaysia to go into the forex market in Malaysia in order to regulate and stabilise the ringgit, but it should not speculate in forex markets outside Malaysia. As such, its action was unethical. The Bank Negara governor at that time was Jaffar Hussein and the head of the forex legal unit was Nor Mohamed Yakcop. Both resigned after the illegal fiasco. The golden rule is if any Malaysian wants malaysia bet in any foreign exchange market he should use his own funds, not that of the nation. Mahathir must be held accountable for his action. Show posts by this member only Post It is ok if the government does it. Look at all my stars!! Summoning sifu ruffaz This post has been edited by Barack Obama: QUOTE pisces88 Jun 24 Can we sue mahathir for the forex loss? Or Malaysian govt and judges sked challenge him? QUOTE Barack Obama Jun 24 Track this topic Receive email notification when a reply has been made to this topic and you are not active on the board. Subscribe to this forum Receive email notification when a new topic is illegal in this forum and you are not active on the malaysia. I know Bursa also uses candlesticks and so on ma. On my way Group: Trust Fund Baby Group: Because you are not MAHATHIR, QUOTE RM Yeah, I know it exist. But what I worried is that some of them can say their DB got hacked and then cannot refund their investors. If got legal body, arrr QUOTE fattchoi Jun 24 These places can start to offer Forex products.
Smart Property Investors Know the Law in Creative Investment - Malaysia Property Show 2016
Smart Property Investors Know the Law in Creative Investment - Malaysia Property Show 2016
5 thoughts on “Forex legal or illegal in malaysia”
She loves the jingles and they help her to remember the parts of speech.
Since most of the world is fast asleep in the morning, there is a lot of quiet around you.
By July, the emperor had already indicated that he was interested.
Kentucky gone, we cannot hold Missouri, nor, I think, Maryland.
This is a very good summary of some of the defects of this alleged apparition.