If You Had Invested  $100  In Past Tech IPO’s Be Worth Today?

With all the hype surrounding the recent $FB IPO, this graphic provides some interesting context.

「互動」的代價 

薄熙來和章子怡「互動」遭禁止出國

根據《博訊》新聞網獨家消息，中國著名影星章子怡，已經確認捲入薄熙來案，已經被調查組問話並禁止出國。

《博訊》報導，中國富商徐明供認他在2007年，首次給了章子怡600萬人民幣，做為和他「互動」的代價；之後，另 多次「互動」。

同年，徐明安排章子怡和薄熙來「互動」，酬金是1000萬人民幣。在2007年到2011年期間，薄熙來和章子怡「互動」超過10次。

據悉，徐明和薄熙來和章子怡「互動」的地點，是首都國際機場附近，和北京西山 的徐明會所。

《博訊》據中紀委的數據，章子怡在過去10年以和人「互動」至少獲取7億人民 幣，其中1.8億是來自徐明的現金。

EUROLand Socialists Are Bloodsuckers

Christine Lagarde, scourge of tax evaders, pays no tax

IMF boss who caused international outrage when she suggested that Greeks should pay their taxes earns a tax-free salary

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IMF managing director Christine Lagarde. Photograph: Dominick Reuter/Reuters

Christine Lagarde, the IMF boss who caused international outrage after she suggested in an interview with the Guardian on Friday that beleaguered Greeks might do well to pay their taxes, pays no taxes, it has emerged.

As an official of an international institution, her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes.

The former French finance minister took over as managing director of the IMF last year when she succeeded her disgraced compatriot Dominique Strauss-Kahn, who was forced to resign after he faced charges – later dropped – of sexually attacking a New York hotel maid.

Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it.

The same applies to nearly all United Nations employees – article 34 of the Vienna convention on diplomatic relations of 1961, which has been signed by 187 states, declares: "A diplomatic agent shall be exempt from all dues and taxes, personal or real, national, regional or municipal."

According to Lagarde's contract she is also entitled to a pay rise on 1 July every year during her five-year contract.

Base salaries range from $46,000 to $80,521. Senior salaries range between $95,394 and $123,033 but these are topped up with adjustments for the cost of living in different countries. A UN worker based in Geneva, for example, will see their base salary increased by 106%, in Bonn by 50.6%, Paris 62% and Peshawar 38.6%. Even in Juba, the capital of South Sudan, one of the poorest areas of the world, a UN employee's salary will be increased by 53.2%.

Other benefits include rent subsidies, dependency allowances for spouses and children, education grants for school-age children and travel and shipping expenses, as well as subsidised medical insurance.

For many years critics have complained that IMF, World Bank, and United Nations employees are able to live large at international taxpayers' expense.

During the 1944 economic conference at Bretton Woods, where the IMF was created, American and British politicians disagreed over salaries for the bureaucrats. British delegates, including the economist John Maynard Keynes, considered the American proposals for salaries to be "monstrous", but lost the argument.

Officials from the various organisations have long maintained that the high salaries are a way of attracting talent from the private sector. In fact, most senior employees are recruited from government posts.

D'Angelo Recalls Recurring Dreams About Marvin Gaye & Leaving Music

D'Angelo delves deep to discuss his past.
While in the midst of mounting his comeback, D'Angelo has had time to reflect on his often-tumultuous journey through music.
In an interview with GQ, the crooner discussed having recurring dreams about one of his influences: Marvin Gaye.

After Gaye died at the age of 44, D'Angelo began having recurring dreams about Marvin. Eventually, after getting signed, D'Angelo had his final dream about the singer. "I was following him as a grown man," he revealed. "He was a bit heavier, and he had the beard. He was naked, and all I could see was his back and that cap he used to wear all the time. And he got into this whirlpool Jacuzzi with his wife and his daughter and his little son, and that's when he turns around and looks at me. And he goes, 'I know you're wondering why you keep dreaming about me.' And I woke up."

D'Angelo also addressed the negative side of becoming a sex symbol after his video for "Untitled (How Does It Feel?)," showing the then-muscular (and nearly naked) artist singing about making love. 

"One time I got mad when a female threw money at me onstage, and that made me feel fucked-up, and I threw the money back at her," recalled the "Devil's Pie" singer, who could not avoid shows where women insisted he take his clothes off. "I was like, 'I'm not a stripper.'"

Read the interview here.

中国，我能对你说不吗？

 

 

目前在中国上海交通大学攻读管理学博士的韩国作家金宰贤，日前刚出版新书《中 国，我能对你说不吗？》，20日又在凤凰网博报发表文章《我不喜欢中国的十大理由》，以外国人的观点，列 举10件令他难以理解的事情。

金宰贤毕业於韩国高丽大学中文系，2003年起到中国工作，曾在北京大学读工商管理硕士（MBA），现於上海交通大学攻读管理学博士，兼任英 国《金融时报》中文网特约撰稿人，新华报业集团《国际先驱导报》等媒体的专栏作家。

文章一开始，金宰贤表示虽在中国生活9年，逐渐对很多事情「见怪不怪」，但还是有10件事让他很「纠结」，並举出自己的亲身经歷说明。

他提出的第一个理由是「网络龟速」。金宰贤引述北大一名教授最近的说法：「中国网速是世界平均水准的一半、韩国的1/9，这就叫断送未来。」 他表示在中国9年，每天至少多花半个小时等上网，浪费的时间高达1642小时。

最让金宰贤忧心的是食品安全问题。他表示，刚到中国时，只担心餐馆、小吃摊用的味精与食盐量多寡。但9年后的今天，担心的问题越来越多，尤其 2008年9月爆出的「三聚氰胺」毒奶事件「彻底毁灭了我对中国食品业的信赖」。

司机不看交通灯

另外，金宰贤在中国的最大心愿就是不遭遇交通事故。他说，很多驾车的人没把行人放在他们眼里，司机根本不看交通信號，前方没车就过去，逆行也 是家常便饭。

他认为，中国的马路是当今中国社会的缩影，即没有规则或对规则睁一只眼闭一只 眼，只顾眼前的、自己的利益，不顾长期的、共同的利益。

金宰贤也对中国电影至今没有分级制度，以致许多电影无法在戏院上映一事，感到困惑。

他以李安执导的《色.戒》与《3D肉蒲团》等两部具爭议性电影为例，指出前者被修剪为「老少皆宜」版本才能放映；后者，他只能买盗版DVD 看。

对近年中国物价飆涨，但商品与服务品质却没相对提高，金宰贤感触更多，连续提出「景区门票为何这么贵？」、「好货非常贵，但便宜没好货」与 「看病难、看病贵」、「花钱不等於优质服务」、「房价」等5个议题。

文末，金宰贤对有不喜欢中国的理由，但仍住在中国的原因作出解释。「这10个理由並不能让我忘却，在生活当中或旅途中短暂接触的很多中国人对 我的亲切。中国有像美国那样大熔炉的特徵，她就像火锅一样，包容古今东西，不断地变化。这两大理由足以让我喜欢上中国。」

网民：韩国都没问题？

对於作家金宰贤所提出「10个不喜欢中国的理由」以及他的新书《中国，我能对你说不吗？》，引发中国网民热烈討论，网民的评价两极。

蠹书老鱼说：「句句是实，无可辩驳」。紫色之恋521表示：「很多中国人都对这个国家的现状无语！不用说你们这些外国人咯，只是我对它是 又恨又爱！」

sistar68：「韩国人没说错呀。中国问题多到数不清啦。10个理由太少，起码100个啦。」

也有网民不满他的批评。有梦的竹子说：「不喜欢可以离开啊，没人留你在这里。」 fp1981说：「虽然你说的问题在中国是存在，可你韩国就一个问题都没有？……你总是找中国不好的事情，利用这些赚钱？」

慕士塔格要戒网更说：「中国有啥毛病，中国人自己清楚，不劳你吃泡菜的一根筋操心。」

金宰贤在文中表示，「如果我不关心也不希望中国发展的话，我绝不会批评中国的任何事情。我之所以批评或说出我对中国的观点，是因为我希望中国 变成更好的国家，也是因为我相信这样的中国不仅会给中国人，而且会给全世界做出更多贡献」。

甘肃省医务昏官打通任督二脉 !!!!!!

任督二脉

甘肃畅销的《兰州晨报》今天倒也没有对事涉本地官员的争议装聋作哑，甚至是在其封面报道《41人‘打通任督二脉’引热议》中直接引述嘲讽—— “5月22日，甘肃省卫生厅厅长刘维忠在其微博上发布一则‘甘肃省医务人员真气运行学骨 干培训班在武山矿泉疗养院成功举办’的消息称：‘经过9 天的培训，有41名学员打通了任督二脉’。此语一出，引来网友关注，网上板砖不断，有着浓烈武侠情结的一名网 友揶揄‘打通任督二脉后可以学九阳神功、九阴真经、降龙十八掌了’。”

这份本地媒体宣布自己带着网友关注的问题前往采访甘肃 省卫生厅真气运行法办公室主任王春道，得到的解释是“打通任督二脉只是打通了小周天，这是气功 养生的初始功夫。在实践过程中，一些慢性疾病患者确实会通过调理有所好转，但在个人的体会上则可谓‘如人饮水，冷暖自知’。” 刘厅长的微博回应也得到重点摘录：“在武侠小说的误导下，我们认为打通任督二脉是 一件非常难的事情。我想告诉大家的是，从中医上来讲，打通任督二脉只是让气血更加通畅，身体更健康而已，并不是什么武功 绝学。”

对那些“看热闹”的外地都市报来说，这实在是一个可以制作戏谑标题以及版式的好机会，特别是针对“任 督二脉以人体正下方双腿间的会阴穴为起点”。《重庆晨报》选用了周星驰电影《功夫》中撩腿攻击的一幕作为图解 标本，内版通栏标题主动向网民贴近：“亲，不会武功9天也能练成神功。甘肃卫生厅教你打通任督二脉”。这份报纸宣布自己找到了“真气运行学骨 干培训班”教员李天晓女士，这位著名中医回应质疑语气坚定，“不怕你不信，就怕你 不练。”并承认其大力推广真气运行等中医治疗方法受到了刘厅长的很多帮助，“他一个邻居的孩子得了乙肝，就是靠真气运行法治愈的，所 以他特别相信这个。”

其实，类似“神功速成班”这样的说法还算是纸媒克制，在互联网吐槽中，对刘维忠的嬉笑怒骂早已是花样百出，令这位卫生厅长当年名噪一时的“食疗吃猪蹄”理念更是被旧事重提。

在直接用标题“甘肃医务人员集体练功成笑料”做出判决时，《都市快报》摘录医学业界知名网站丁香园的官方微博评论：“已经打通任督二脉……是否可以申请诺贝尔医学奖了？”《成都晚报》的记 者们发现，连“打假斗士”方舟子也从与韩寒、“作业本”的论战中抽出身来，对这位笃信中医的“异类”卫生官员再度发难：“其实我还有一种更好的功夫推荐给‘猪蹄厅长’，叫‘信息锅’功，让甘肃省医务人员人人炼成一口 ‘信息锅’，从此不怕医闹打脑袋。”

《新京报》严肃对待这个板砖与口水横飞的议题，花费半个版开展时事评论。两位作者均不认可刘厅长的解释：“气功作为修身养性的一种方法当然有 存在的价值，但是，如果要拿它来证明中医的神奇并加以推广，值得慎重考虑”；“作为专业医务工作者的上级主管单位，对这种明显违反医学——或 干脆说违反科学规律和基本常识的‘人间奇迹’听之任之，信之赞之，且大有要发扬光大的气魄，就不免更令人费解了。”幸好还有一位学习过中医的 医生赞成甘肃“真气运行学骨干培训班”，认为“练习者感到精力充沛，一些疾病的症状明显减轻或痊愈，还是有可能的”，但他亦指“宣传推广要去 神秘化。用‘打通任督二脉’一类的说法，会引起人们的误解。”

与《重庆晨报》那篇社评《卫生厅“打通任督二脉”培训涉嫌滥用职权》观点近似，《南方都市报》正襟危坐的来论《“猪蹄厅长”打通的是权力“任 督二脉”》成为新浪、腾讯、凤凰三家门户共同推荐的头条观点：“卫生厅长已经走火入 魔...手握众多人员前途和命运的厅长‘病’得不轻，利用手中的权力召开‘玄学’培训班，厅长打通的不是人体的任督二脉，而是权力的 ‘任督二脉’———公权私用。”

我地广东人堅過石堅 !

中国又有交警暴力执法触发万人堵路！

据微博消息称，星期四傍晚6时许，交警人员在珠海前山路扫荡非法载客的摩托车，一名老伯不愿摩托车被充公，向交警求饶，却遭人拖至路边， 有交警更声言要打死老伯。

现场群众不满交警暴力执法，围着交警理论，交警见群情汹涌，情急下当场施放辣椒水，多名路人走避不及被喷中，一名小孩的眼睛也被辣椒水溅 中，要送往医院治疗。

交警乱喷辣椒水

交警乱喷辣椒水更令群众怒火中烧，大批群众聚集在马路中间起哄，现场交通瘫痪，消息 指现场起码有上万名群众围观堵塞马路，情况十分混乱，而涉嫌伤人的交警则乘乱离开现场。

当局派出大批手持防暴盾牌的警员到场戒备，双方对峙至深夜，群众才陆续散去。

援建捐赠救援中国 ? 你真是个傻 B！

 

社 会爱心再次受到伤害      香港收回四川援建拨款

（香港25日讯）率团访问四川的香港特区政府政务司司长林瑞麟，週四向媒体回应援建绵阳紫荆民族中学被拆一事。他强调，港方將收回援 建学校的200万港元（80万令吉），並將其回拨到特区政府设立的四川重建基金。

新华社报导，林瑞麟告诉记者，在绵阳紫荆民族中学拆除前后，绵阳方面未通报港方，港方获悉此事后，是不同意拆除的。在获悉学校被拆 后，特区政府已向四川方面提出自己的意见。

四川调查拆建中学

四川方面表示，绵阳当地政府在未徵得特区政府同意的情况下，私自拆除学校不符合川港间援建项目的安排，將严肃跟进此事，並展开进一步 调查。

林瑞麟一行週四至周六访问四川，並出席香港特別行政区支持四川地震灾后重建集体项目竣工典礼暨川港合作协议签署仪式，以及川港高层会 议。

紫荆民族中学建立的部分资金，是由香港特区政府及教育工作者联会援助的。该中学 在建成一年后被拆除。有媒体报导称，学 校被拆是为腾出地方，建造一个豪华商住综合建筑。

被传將投资60亿元人民幣（约30亿令吉）在该校原址，打造绵阳万达广场的大连万达集团董事长王健林，週四接受《新京报》採访时称， 万达公司以掛牌招標摘得土地，与拆迁一事无关。

近日，“四川绵阳灾区重建中学被拆建豪宅”的消息引发社会关注，

舆论纷纷质疑社 会爱心再次受到伤害。而绵阳市也迅速作出回应：中学原址重建属应 急建设，学校长远发展空间有限，当地已另外划拨相当于原址10倍面积的土地，建成后的新学校设施将更为完善。 

 新华网成都５月２２日电（记者江毅）５月１９日至２２日，“四川灾区重建中学被 拆建豪宅”的消息引爆网络舆论，各大门户网站、论坛和微博大量转发，一所使用仅２年的重建学校为何突然被拆除？目前学生上课的情况怎样？灾后 重建中善款使用到底面临怎样的问题？记者赶赴绵阳市进行了深入采访。
    据了解，被拆除的是绵阳紫荆民族中学。２００８年的汶川大地震，使绵阳民族初级中学教学楼严 重受损。震后，香港教育工作者联会、香港特区政府和绵阳市政府共同投入６００多万元爱心捐款和政府拨款（香港方面捐款４００万港元），建设了 一座近３０００平米的教学楼，２０１０年３月投入使用，并更名为绵阳紫荆民族中学。

    ５月２１日，记者赶赴绵阳紫荆民族中学所在地绵阳市涪城区花园路附近，这里正对着绵阳火车站，属于当地较为繁华的商业中心，周边人 流、车流 量较大。记者看到这里已经建起一大片商业设施，许多楼都接近封顶。学校原址已经被围板围起，一幢教学楼严重倾斜，正在实施拆除。周边不少商户 告诉记者：学 校去年底就没使用了，拆除是这几天开始的。

    商业设施开发商“涪城万达广场”相关人士介绍，这一片商业开发用地１００亩左右，是通过招拍挂拿的“净地”，也就是说涉及的拆迁、 土地平整 等前期工作都由当地政府完成，开发商只负责缴纳土地出让金。广场将于今年年底开业，民族中学和周边其他学校都去年已经陆续搬迁至绵阳市园艺山 科教创业园 区。

    记者随即赶往园艺山科教创业园区采访，绵阳市在这里新规划了一个教育园区，集中了许多学校。记者在四周走访看到道路和绿化条件较 好，有的学校已经投入使用，还有不少正在修建中。

    园区灵创科技园一栋６层楼的建筑是紫荆民族中学的临时教学、生活场所。这里环境较为安静，保卫十分严格，一道自动伸缩门将校区和外 界隔离开来，门卫室内有２名保安，人员进出都需要登记。

    紫荆民族中学校长程晓媞接受记者采访时说：“我们学校的原址面积很小，仅有６．８８亩，学生们得借用外校的运动场和浴室，正常的教 学活动开展很受限制。现在我们虽然暂时租赁校舍上课，但政府将给我们建一所更好的新学校，明年秋季开学就搬进去，师生们都很期待。”

    针对网络热议，绵阳市有关方面２１日也做出公开回应称，２００９年紫荆民族中学教学楼的原址重建属于灾后应急建设，学校本身缺乏运 动场和浴 室等配套设施，学校多次反映困难。为此绵阳市成立了专门的绵阳紫荆民族中学建设推进领导小组，并与香港教联会代表充分沟通后，规划选址在科教 创业园区新建 标准化的绵阳紫荆民族中学。

    新校园征地６５．５亩，总投资７０００万元，可满足１８个班、９００人的办学需求。新校区的建设已于２０１２年２月底正式动工修 建，２０１３年８月将竣工投入使用。总投资中，原民族中学土地及土地构筑物资产处置约３０００万元人民币，包含了香港方面援建的４００万港 元，其余资金由 绵阳市政府投入。
    针对重建中学为何两年就被拆迁的疑问，绵阳市规划局副局长何林泰向记者强调了当初原址重建只是“应急之需”：“中学教学楼在地震中 严重损 毁，当时最紧迫的任务是在最短时间内为师生提供一个安全的教学场所，因此才决定原址重建教学楼。但从长远规划来说，紫荆民族中学原址临近火车 站和交通要 道，人流、车流量巨大，今后附近还将有一条连接机场的道路，不利于长期办学。”

    关于外界最为关注的“学校为商业开发让路”的质疑，何林泰的态度也很鲜明：提升灾区办学环境的规划在前，商业开发项目在后：“实际 上我们从 ２００９年底起，就对绵阳灾后重建项目进行了梳理和评估，当初应急建设的项目也需要提升，尤其是灾区学校需要一个更好的发展规划。正是在这个 时候，紫荆民 族中学向市上反映教学条件难以得到满足，我们通过调研，征求师生、家长意见后，决定将民族中学纳入市内教育园区规划中，绝不是为了引进商业项 目而让学校迁 建。”

    就绵阳紫荆民族中学拆除重建一事，香港特区政府发展局发言人在回应新华社记者咨询时表示，特区政府相关人员已于５月初赴现场实地了 解，并正与四川方面及负责援建该所中学的非政府组织香港教育工作者联会商讨处理办法，包括考虑要求收回由特区政府捐出的２００万港元。

    发言人表示，四川绵阳紫荆民族中学与当地城区的其他发展项目出现征地、用地不协调问题，特区政府已经跟进。四川省已安排其他地方， 让受影响的３００多名学生继续上课。

China Is So Fragile

Missing in Action: On the Trail of Confiscated Copies of TIME in China

The note arrived in a nearly empty box sent to TIME’s Beijing Bureau. All copies of TIME Magazine’s May 14, 2012 issue with a cover entitled The People’s Republic of Scandal had been “safeguarded by customs.” Apparently, some customs officer had been entrusted with counting each confiscated copy ; there were, the receipt noted, 62 seized magazines. At the bottom of the customs document, there were five categories (with boxes to be ticked next to them) that described the possible fate of the seized magazines: 1. To be returned to sender 2. To be taxed 3. To be inspected 4. To be declared 5. To be dealt with. Our 62 magazines fell into the last category. They were being “dealt with.”

Like other foreign news publications available in limited quantities in China, TIME is subject to the occasional banishment from the newsstand. Our issue the previous week on disgraced Communist Party official Bo Xilai had been barred from distribution at hotels and other select purveyors, although subscribers living in China received their copies without a hitch. An essay on the plight of legal activist Chen Guangcheng that appeared the week after the People’s Republic of Scandal cover was ripped out of each issue before the magazine was allowed in. Such censorship has been happening more in recent months, part of what appears to be a growing campaign to control and even intimidate foreign media in China. Earlier this month, a highly respected journalist for al-Jazeera English was kicked out for violating unnamed rules and regulations. Around a dozen Beijing-based journalists were recently called in by local public-security officials and warned that if they tried to visit the hospital where legal activist Chen was isolated for nearly three weeks before departing for the U.S., they would have their visas revoked.


But back to the 62 missing copies of TIME. By whom had they been “dealt with?” And given that the customs receipt said we could contact the capital customs’ office within three months to retrieve the magazines, perhaps we could even get them back?

From that point ensued a surreal—and utterly common—exercise in Chinese bureaucratic futility. My colleague Jessie Jiang began working the phones. She first called the number on the receipt for the Beijing customs office. After many failed attempts to get someone to address TIME’s concerns, a customs official explained to Jessie that the magazines had probably been confiscated because of the “sensitive” nature of the issue. “As you know, China is very strict when it comes to ideology,” the customs officer told Jessie.

Beijing customs said they had no authority to allow the release of the magazines without a letter from the Beijing Municipal Bureau of Press and Publication. But several representatives of that bureau said there were no employees there who dealt with such matters—and that they had never written a letter reversing a confiscation decision before. One of the officials told Jessie: “This is China. We don’t allow foreign magazines to be distributed.” (Which, given the number of foreign publications available at upmarket newsstands in Beijing, is obviously untrue.)



So Jessie went up the chain of command and tried calling the national-level General Administration of Press and Publication. For several days, no one answered the phone. Then on May 17, someone finally took her call. A woman said that she had no authority and that her colleague who did have powers over such matters was “in a meeting.” The woman told Jessie that her colleague would call her back. Needless to say, Jessie never received a reply.

Days later, Jessie tried the national bureau one last time and reached a different official. This bureaucrat was full of admonition. If customs kept the 62 copies, “they had their reasons,” she snapped. If we really wanted our magazines, we would have to contact a state-owned import company that could liaise with her office and try to facilitate something. But, as we know, no state firm would dare risk itself for sensitive magazine from a foreign media company. We had essentially reached a dead end.

Extrapolating from one small incident can be perilous. But the case of the missing TIME Magazines feels like an apt metaphor for how China is run. Something spooks a nervous administration. Vague rules and regulations are trotted out to justify a crackdown. A thin sheet of paper, emblazoned with a red chop, is issued. Yet no one is willing to take full responsibility. Phones go unanswered. Defensive official statements are issued. Eventually, the flare-up dissipates—just as legal activist Chen ended up taking a flight to America nearly three weeks after he found himself locked in a Beijing hospital, despite promises that he was a free man. There always seems to be another flashpoint. Who knows what next week’s TIME magazine delivery will bring?

Will the Ringgit Collapses again ?

Unlike the fundamental "experts", I and my school of technical analysts honestly cannot guarantee what will happen in the financial markets. But by using chart readings, we can educatedly "predict" what MAY happen next, especially at near those market terminal points. One of my 'enlightenments" from trading the markets for more than a decade is that nasty thing tends to happen when everybody is singing seas of praises. In the past few months, "experts" have been talking about emerging market currencies are the best thing ever happen after Marvin Gaye. I beg to differ.


 

Looking at the longer term parameter which is the monthly chart, we immediately take note the "era of Dr. M's WMD" when he imposed capital control and tied up the Ringgit. After which it appreciated against the USD . It is NOT about how strong the Ringgit has been but rather to do with how weak was the USD has been. The Ringgit touched a low of 2.932 in July last year and weaken a bit and generally it has been caught in a range. This is confirmed by the falling ADX (green line at the bottom panel) and prices caught inside the Bollinger band. The Stochastic (top panel) and the MACD (2nd panel) is contradicting each other with the Stochastic going negative while the MACD staying positive. A contradicting indicators mean the market is listless.

But a tell tale sign that I always pay attention to is the MACD has been marking higher troughs since April, 2008 to May, 2011 while prices had been appreciating to higher high (in this case, it is a lower low since Ringgit is "smaller" than the USD)  This is known as a divergence or put in Chinese saying - "the mouth is not reflecting the heart". Usually when a divergence occurs, it usually mean the current trend (in the case here - appreciation) is about to end and a new opposite trend is lightly to begin. And usually the new trend will be a powerful one.

Does this mean the Ringgit will collapse tomorrow ? No, I do not think so as the MACD is still below its zero signal line and the Stochastic has NOT turned around. We most probably will see prices blowing up when we get the 2 conditions in.

 

After we have studied the long term monthly chart, I will go a step down to the intermediate term weekly chart. As marked out with red lines, we are also getting a divergence setup here. Unlike the monthly chart, both the indicators are pointing upward in unison and the MACD is crossing its zero signal line currently. And I take note of the ADX which has been below its 20's value but it has begun to rise. When the ADX is falling and below the 20's, it means the market is "dead". As at now when it has begun to rise, it usually mean the market has begun to show some "life". But I usually would prefer to see it goes above the 20's to confirm a strong trend is in place.

I have drawn a horizontal line at the prices panel to mark out the 3.198 level. This has been a strong resistance in mid July and late November 2011. So if price is able to go beyond and close above this level, we should have a confirmation that the Ringgit is melting down.

I use "collapse" and "meltdown" because that is usually happen to the prices whenever there is a divergence found in the chart. The price action will  usually  find the fundamental "experts" shocked and awed and they would have to scuffle to look for excuses trying to "explain" themselves for missing that one.

 
By applying Fibonacci Ratio, the upside target will be at 3.90 or even 4.13. We hope we would not  see a full retracement back to George Soros' 4.88 level as it would mean Malaysia is in some kind of "end of the world" economic scenario. (think back 1998's) Hey, go tell Najib to fuck off throwing away all our money !!!!!

Just to add some fundamental spices to this Rinngit's collapse is that you should pay attention reports sipping out recently on Indonesia, India, Vietnam and South Korea's increasing reckless borrowings. All play in the familiar pre-1998 crisis buildup.

A disclaimer here (as usual) :- if Ringgit goes back below 2.930 and stay below there for 1 week + , then forget you read this essay.

六四遇难者父亲含恨自缢身亡

1989年“六四”事件遇难者轧爱 国的父亲轧伟林在六四事件23周年前夕自缢身亡，抗议中国政府的冷酷无情。
轧伟林的亲属在他身上发现一张纸条，上面写着：冤屈未得申雪，决意以死抗争。
六四死难者亲属组织“天安门母亲”发布讣告说，轧伟林从50岁的壮年熬到73岁的老年，长期的悲痛和压抑终于导致他的绝望。
1989年6月3日 晚，轧伟林22岁的儿子轧爱国在公主坟一带被戒严部队开枪击中头部，死于301医院。
天安门母亲的讣告说，自上个世纪90年代以来，轧伟林年复一年地参加活动，要求当局公正解决六四问题。
但20多年来，中国政府不但无视难属的正当要求，反而每逢六四便加紧打压难属的纪念活动。
讣告谴责中国政府应对轧伟林的死亡负责，并再次呼吁当局早日解决六四问题，以避免此类悲剧再次发生。
北京当局对23年前发生的震惊全球的六四血腥事件讳莫如深，至今没有公布事 件中的死难者数字。
中国媒体也奉命对此三缄其口，不敢刊登与事件有关的片言只语。

 Incredible Artifacts From New York Banking History

Julia La Roche for Business Insider

Have you ever wondered how New York City became a global financial powerhouse?   The Museum of the City of New York has just unveiled its "Capital of Capital: New York City Banks and the Creation of a Global Economy" exhibit explaining how this happened.
This new exhibit, which commemorates the 200th anniversary of Citigroup, takes visitors through the rise of NYC's banks from an early source of credit for local merchants to the global financial center they make up today.
We checked out the exhibit yesterday and it has some pretty cool historic documents and artifacts.  We've included some highlights in the slides that follow.

This is Bank of New York’s ledger book containing the accounts of George Washington.

Source: Capital of Capital

This might look like a strange log, but it's actually a section of water pipe installed in 1799 from Aaron Burr’s Manhattan Company (the predecessor of today’s Chase).

Source: Capital of Capital

This is the 1812 minute book with notes from the first meeting of the Board of Directors of the City Bank of New York, which is of course today's Citi.

Source: Capital of Capital

Between the American Revolution and the Civil War there was no national paper currency so private banks issued notes providing a “medium of exchange” for the mercantile economy.These are counterfeit three dollar Chemical Bank notes from 1830. Notice the intricate detailing.

Source: Capital of Capital

After the Civil War, investment banks began to rise as underwriters for massive infrastructure projects. These are examples of bank stocks.

Source: Capital of Capital

This 1922 Savings Bank Machine is a precursor to an ATM. However, it's not certain where it was installed or if it was ever used other than just a novelty. It worked by a user depositing coins in the machine and a receipt would come out. The user would then write their account number on half of the receipt and deposit it back in the machine by opening the horizontal door and slipping it through the slot. Pretty neat!

Julia La Roche for Business Insider

Source: Capital of Capital

Of course, famed financier J.P. Morgan is featured in the exhibit. That's an old magazine cover he graced.

Source: Capital of Capital

This is a vintage ticker tape machine which printed out stock prices.

Source: Capital of Capital

Speaking of ticker tape, here's the one from the stock market crash of 1929.

Source: Capital of Capital

The period after World War II, banks started issuing new consumer products, including early credit cards. Here's City Bank’s “Everything Card,” which launched in 1967.

Julia La Roche for Business Insider

Source: Capital of Capital

No this is not real gold bullion. It's a replica gold bar inscribed 'FNCB Travelers Checks 'Better Than Money.'' It's undated and it served an an advertisement.

Source: Capital of Capital

This vintage 1964 Citi board game looks fun.

Source: Capital of Capital

The exhibit continues to take the visitor through the later part of the 21st century and even through the 2008 financial crisis. In this section, the Bloomberg Terminal even gets a shout out.

Julia La Roche for Business Insider

Source: Capital of Capital

And so does the Occupy Wall Street movement.

It's Time To Kick Germany Out Of The Euro

Okay, that headline is a little extreme (I actually laughed out loud as I wrote it), but I am trying to think like a European politician here.  Let me explain.  I’ve already said what I’d do if I was a member of the peripheral countries.  I’d go right up to Angela Merkel and tell her that if Germany doesn’t start giving in to some of our demands that I’d take my country, leave the Euro and default on the German bankers.  Really, they should all do this in unison although Alexis Tsipras appears to be the only one actually willing to make this threat.   It’s time to turn the tables on Germany and start pushing them around.  That’s what this has come to.

It’s now abundantly clear that austerity is failing.  And it will continue to fail until a true resolution is brought to the table.  That either involves a full dissolution of the Euro (resulting in full sovereignty with the former currencies) or a push towards fiscal union.  These half hearted moves that we keep seeing just aren’t going to fix the root cause of the currency crisis.  The single currency system is broken.  Just like the gold standard was broken.  There is no reviving it in its current form.  It either needs major changes like the USA did when it created a full fiscal union or it needs to be busted up so these nations can regain monetary sovereignty and floating FX.

The sad thing is, Germany likes the way things have been.  As long as they can avoid having their banks defaulted on then they continue to enjoy being the trade surplus nation within the single currency and the primary beneficiary of the EMU.  They have meager growth, but record low unemployment.  Things are pretty good on a relative basis!  So they’re holding on for dear life just hoping that something turns around and the music continues to play on.  But the music is coming to an end and Germany needs to start making decisions.  They either need to leave the Euro and stop holding everyone in the EMU hostage to their demands or they need to start making some concessions and moving towards fiscal union.  And since it’s becoming clear that they won’t make decisions then someone has to start making decisions for them.

There’s no provision in the EU for kicking a country out (as far as I know), but that doesn’t mean they can’t create one.  The peripheral nations could all unify and I am certain they’d find support from France at this point since Hollande is pushing for fiscal unity as well.  Together, these countries can all start pushing Germany around.  In fact, they could threaten to kick Germany out of the EMU (though they clearly don’t need to go that far!!).  It sounds crazy, but that’s the last thing Germany wants.  If they were kicked out of the EMU they’d not only default on trillions in Euros, but they’d have to bring back the D-mark which would be a total disaster for their economy as the D-mark would soar versus the Euro and crush their export driven economy.  Ironically, it would likely result in higher debt levels for Germany as automatic stabilizers would result in more government spending as recession occurred.  So they’d not only lose their trade position, but they’d end up printing more money anyhow!

Now, part of this is a bit facetious.  I really don’t think they should try to kick Germany out of the EMU.  But they should certainly unify more tightly and begin pushing back very aggressively. There’s much more to the EMU than Germany, but for some reason everyone is taking orders from Angela Merkel.  Europe needs leaders to start walking into meetings and making very serious threats.  There are millions of people held hostage in a depression due to this inaction.  Someone needs to start standing up for them and recognizing that the currency union needs very serious changes and it needs them YESTERDAY.


Cullen Roche, Pragmatic Capitalism

The Biggest IPOs In American History

Last week's Facebook IPO has been getting press for all of the wrong reasons.  The stock is down around 16 percent since it first started trading on Friday. 

However, it was also one of the biggest IPOs in American history.

S&P Capital IQ compiled the top 25 U.S. IPO's ranked by gross offering.

We also included its IPO price and calculated the stock's performance over the last year and since inception.

Visa Inc., $17.86 billion

Offering date:
March 18, 2008 Price per share:
$44.00
Market cap:
$78.21 billion
Performance since inception:
+83.9%
1-year performance:
+53.5%

Source: S&P Capital IQ / Yahoo finance

Facebook, $16.00 billion

Offering date:
May 17, 2012
Price per share:
$38.00

Market cap:
$72.76 billion

Performance since inception:
-18.9%
1-year performance:
N/A

Source: S&P Capital IQ / Yahoo finance

General Motors, $15.77 billion

Offering date:
November 17, 2010
Price per share:
$33.00

Market cap:
$33.73 billion

Performance since inception:
-37.1%
1-year performance:
-30.1%

Source: S&P Capital IQ / Yahoo finance

Kraft Foods, $8.68 billion

Offering date:
June 12, 2001
Price per share:
$31.00

Market cap:
$68.42 billion

Performance since inception:
+26.8%
1-year performance:
+9.6%

United Parcel Service (UPS), $5.47 billion

Offering date:
November 9, 1999
Price per share:
$50.00

Market cap:
$71.61 billion

Performance since inception:
+6.8%
1-year performance:
+1.7%

CIT Group Inc., $4.60 billion

Offering date:
July 1, 2002
Price per share:
$23.00

Market cap:
$6.93 billion

Performance since inception:
+49.2%
1-year performance:
-17.8%

The Travelers Companies, Inc., $3.88 billion

Offering date:
March 21, 2002
Price per share:
$18.50

Market cap:
$24.40 billion

Performance since inception:
+30.8%
1-year performance:
+1.9%

HCA Holdings, Inc, $3.79 billion

Offering date:
March 9, 2011
Price per share:
$30.00

Market cap:
$11.33 billion

Performance since inception:
-40.5%
1-year performance:
-25.1%

The Goldman Sachs Group, $3.66 billion

Offering date:
May 3, 1999
Price per share:
$53.00

Market cap:
$49.20 billion

Performance since inception:
+29.9%
1-year performance:
-29.0%

People's United Financial Inc., $3.44 billion

Offering date:
April 11, 2007
Price per share:
$20.00

Market cap:
$4.06 billion

Performance since inception:
-73.2%
1-year performance:
-10.8%

Source: S&P Capital IQ / Yahoo finance

Charter Communications Inc., $3.23 billion

Offering date:
November 8, 1999
Price per share:
$19.00

Market cap:
$6.40 billion

Performance since inception:
+164.3%
1-year performance:
+14.7%

Source: S&P Capital IQ / Yahoo finance

Prudential Financial, Inc., $3.03 billion

Offering date:
December 12, 2001
Price per share:
$27.50

Market cap:
$21.90 billion

Performance since inception:
+69.8%
1-year performance:
-25.3%

Source: S&P Capital IQ / Yahoo finance

MetLife, Inc., $2.88 billion

Offering date:
April 4, 2000
Price per share:
$14.25

Market cap:
$32.83 billion

Performance since inception:
+115.3%
1-year performance:
-29.3%

Source: S&P Capital IQ / Yahoo finance

Kinder Morgan, Inc, $2.86 billion

Offering date:
February 10, 2011
Price per share:
$30.00

Market cap:
$23.58 billion

Performance since inception:
-67.5%
1-year performance:
+14.6%

Source: S&P Capital IQ / Yahoo finance

Genworth Financial Inc, $2.83 billion

Offering date:
May 24, 2004
Price per share:
$19.50

Market cap:
$2.51 billion

Performance since inception:
-73.3%
1-year performance:
-52.5%

Source: S&P Capital IQ / Yahoo finance

Mastercard Incorporated, $2.39 billion

Offering date:
May 24, 2006
Price per share:
$39.00

Market cap:
$51.89 billion

Performance since inception:
+820.1%
1-year performance:
+52.1%

Source: S&P Capital IQ / Yahoo finance

Agilent Technologies Inc., $2.16 billion

Offering date:
November 18, 1999
Price per share:
$30.00

Market cap:
$13.90 billion

Performance since inception:
+0.2%
1-year performance:
-17.5%

Source: S&P Capital IQ / Yahoo finance

Verisk Analytics, Inc., $1.88 billion

Offering date:
October 6, 2009
Price per share:
$22.00

Market cap:
$7.90 billion

Performance since inception:
+74.8%
1-year performance:
+41.3%

Source: S&P Capital IQ / Yahoo finance

Principal Financial Group Inc., $1.85 billion

Offering date:
October 22, 2001
Price per share:
$18.50

Market cap:
$7.24 billion

Performance since inception:
+12.8%
1-year performance:
-22.2%

Source: S&P Capital IQ / Yahoo finance

Assurant Inc, $1.76 billion

Offering date:
February 4, 2004
Price per share:
$22.00

Market cap:
$3.08 billion

Performance since inception:
+53.8%
1-year performance:
-9.7%

Source: S&P Capital IQ / Yahoo finance

WellPoint Inc., $1.73 billion

Offering date:
October 29, 2001
Price per share:
$36.00

Market cap:
$22.13 billion

Performance since inception:
+212.8%
1-year performance:
-15.2%

Source: S&P Capital IQ / Yahoo finance

Google Inc., $1.67 billion

Offering date:
August 18, 2004
Price per share:
$85.00

Market cap:
$200.22 billion

Performance since inception:
+454.7%
1-year performance:
+15.9%

Source: S&P Capital IQ / Yahoo finance

Spirit AeroSystems Holdings Inc, $1.43 billion

Jeff Turner, CEO, Spirit AeroSystems

Offering date:
November 20, 2006
Price per share:
$26.00

Market cap:
$3.27 billion

Performance since inception:
-20.9%
1-year performance:
+7.1%

Source: S&P Capital IQ / Yahoo finance

USEC Inc., $1.43 billion

Offering date:
July 22, 1998
Price per share:
$14.25

Market cap:
$86.6 million

Performance since inception:
-94.9%
1-year performance:
-81.8%

Source: S&P Capital IQ / Yahoo finance

Huntsman Corporation, $1.39 billion

Offering date:
February 10, 2005
Price per share:
$23.00

Market cap:
$3.14 billion

Performance since inception:
-51.0%
1-year performance:
-30.0%