My Financial Views

Recently Jon has a few email correspondents with some people, and think its good that we journal it up for others to take a look and share their views...

From: jon@stxch.com
Subject: Wake Up Call
Date: Fri, 19 Sep 2008 11:15:14 +0800

Indeed it's a wakeup call for everyone in financial sector. All these happen as PANIC grips the credit markets in the world financial sectors. Even conservative financial organization such as insurance giant AIG is not spared...

I remembered people always argued with me regarding speculations/investments been safe and secure as long as they are "smart in STUDYING market trends". Some even argued that they can make good speculations/investments even if market goes down. Worse of all people would go for so-called "guaranteed profits" by doing "shorts" without coming out cash at all. I really hope that these so call Christian speculators/investors, who insist that all these are “NOT GAMBLING” can reap profits through these turmoil.

Here's the report that some might want to read: http://sg.news.yahoo.com/afp/20080919/tts-us-finance-banking-972e412.html

Here's an extract:

A move by British market regulators to ban short-selling -- a technique that profits from falling share prices -- lifted hopes that other markets may follow.

In the US, new rules aimed at curbing speculative "naked short" sales that aim to profit from falling share prices took effect as a probe was launched into market manipulation.

New York state attorney general Andrew Cuomo announced a probe into illegal short-selling practices that may have hurt finance firms including Lehman Brothers and Morgan Stanley.
Cuomo said that short-selling itself is legal but that "what is illegal is if you are spreading false information, rumors, and you join a conspiracy to purposely drive down the price of a stock, and you are profiting from the decline," he said in an interview with CNN.

Cuomo said the manipulation of the price of a stock with false information is securities fraud.
"Companies like Lehman, companies like Morgan Stanley, companies like Goldman Sachs who are seeing the rapid (share) declines, we have complaints that there are episodes of illegal short-selling, and that is what we are investigating."


For those who claimed that all these are not unbiblical as it is not written in the bible...please think again... Here’s what the bible says:

Matthew 16:26What good will it be for a man if he gains the whole world, yet forfeits his soul?

Romans 12:2: Do not conform any longer to the pattern of this world, but be transformed by the renewing of your mind. Then you will be able to test and approve what God's will is—his good, pleasing and perfect will.

1 Corinthians 1:20Where is the wise man? Where is the scholar? Where is the philosopher of this age? Has not God made foolish the wisdom of the world?

Revelation 18:23The light of a lamp will never shine in you again. The voice of bridegroom and bride will never be heard in you again. Your merchants were the world's great men. By your magic spell all the nations were led astray.

Anyway as in Revelation 18:23, “Your merchants were the world’s great men”... the collapse of these worldwide companies are exactly managed by the world smartest people playing top CEOs in these well known organizations. It's sad to see all these financial problems but I thank God for the financial shaking so that our people are awoken from this "false dream" of financial stability based on massive borrowing and debts. Now let's continue to see how many more companies need bailing out...

Back to speculations/investments-is-not-gambling topic. Let me say at least in casino people "gamble" with their cash on hand and they would stop when their cash runs out. The bankers do not play unless your bets are on the table. At least people would not lose more than they have... So which is worse? Gamblers or Speculators/Investors? My answer is they are both the same. Money make Money or Money lose money. Bible teaches us that it's our hard labour that should produce fruits, nothing else.

As usual, I hereby continue to claim that the financial world is the darkest place of all because of all kinds of unbiblical "credit dealings" going on in the financial marketplace. May God continue to open those eyes of people who refuse to acknowledge that...

May God also protect our Christian brothers/sisters working in banks and asset/fund management companies that they can receive deliverance through His mighty hands.
Also lastly may God protect our government, local banks and financial institutions that we remain stability and well managed. (By the way Temasek seems to make some $$$ after the bailing out of Merril by Bank of America ... so that’s good news for Singapore.)

JON TAN