What the fuss about MYR depreciation?

Malaysians who complaint about MYR depreciating are really idiot. Why?

They know how to buy insurance for house, car, life/health and  what not against untoward incidences. This insurance program are actually a HEDGE.

What can't they just prepare and hedge for unexpected currency movements?

Simply because they have been living in a dreamland all honky dory all is fine attitude. When shit hit the fan, they expect government to do something and bail them out of this problem. If not, they will curse and swear at the govt. blaming the govt. for this predicament.

None of this people will accept they really F up big time. None will take responsibility that the onus is on them to hedge accordingly. None will take the effort to learn how to hedge forward.

Malaysians have short memory and selective memory. 1997-98 is just not too long ago.  I lived and walked through it happily unscathed. My former clients all survived and none were bitten. After that I decided to leave the stock broking industry and move on. 

Today, I manage a small fund for my ex-corporate colleagues who have retired and trade full time in Commodities, FX and occasionally provide my services as Consultant for corporations in hedging and trading when requested. Well, again this round I am happily sitting back enjoying the global crisis as they unfold.  

I returned to corporate, back to Merger & Acquisitions, Hedging, Trading and enriching myself with life and opportunities.
  
Too many news in the media banging that Malaysia cannot sustain at this pace. What did this people do? NOTHING.

This really piss me off when I see headline about currency peg and asking Govt to stem the MYR decline.

The truth is no blardy Govt. is in a position to fight a Global crisis. PERIOD.

I dare to bet that even the architect of MYR peg in the 1997-98 will not be able to stem the decline if he try to implement this scheme. Trust me, Malaysia will walk with the tail between the legs when MYR peg happens at this moment.

There is a TIME when to peg and not to peg. This is not the time. Do you think Malaysia has that much cash reserves to implement the peg in the event of massive withdraw and repatriation of fund. This will totally deplete the cash reserves to a few grains in the vault. By then MYR can go to uncharted territory.

Be careful with what you ask for.... you do not understand what you are demanding!!!1