Justice Bao Gong: To Serve & To Protect: CHEAPEST FOOD AND DRINKS IN TOWN!

Commodity Prices have FALLEN DRASTICALLY, yet there are still hawkers who sell SKY HIGH PRICES, profiteering from the cheaper commodity prices but pocketing the differences in savings.

There are however, GOOD HEARTED hawkers who continue to sell food CHEAP and provide GOOD service.

Here are some examples of the Good Hearted vendors who sell Food and drinks at Pre-year 2000 PRICES:

CHEAPEST COFFEE STALL IN TOWN AREA:
MAXWELL HAWKER CENTRE

FIRST ROW STALL PARALLEL TO MAXWELL ROAD FACING THE ROAD

(From the toilet, walk towards URA Blg, about 6-7 stalls away)

(There are 2 coffee stalls, the first one nearer to toilet is slightly more expensive,

the SECOND coffee stall is the CHEAPEST COFFEE STALL in town!)

(When you're there, look for HELEN)


Here are their PRICES: Know of any cheaper prices in town? I doubt it.
Here are their Wonderful Prices:



SUPPORT CHEAP PRICES! SUPPORT THEM! LOOK FOR HELEN!

Justice Bao Gong: Help for the Poor and Less Fortunate

JUSTICE BAO GONG: To Serve and to Protect


If you are a union member and if a family member passes away, suffer from chronic illness or become incapacitated, you can obtain assistance at the below contact numbers:

Kalau agamamu adalah Muslim, dan sedang mengalami penyakit buruk, atau menjadi janda, atau gaji tidak cukup, kamu boleh dapat bantuan dari CDC atau hubungi MUIS pada nombor telepon terlampir untuk minta pertolongan.













If your household income is low and are unable to make ends meet, or if you know someone who is desperately in need of money to survive, you can look for help in this 'HOPE' program by the Singapore Government below:
















If you are unable to work, or temporarily unable to work, or unable to work due to disability, old age or sickness, you can obtain the attached financial help from the related Government agencies.















There are also a whole list of other very useful ASSISTANCE SCHEMES for the POOR and the less fortunate, a very much appreciated initiative from the Singapore Government. More details can be obtained at the following website. You may contact them or your nearest Community Development Council (CDC) to ask for assistance :



Life is a paradise for a fortunate few who soak in the sea of plenty, but for the vast majority, many are drowning in the ocean of poverty. But worry not, as there are always help available. Many thanks to the Singapore Government who have made the necessary plans and safety net for the really poor to obtain financial assistance.

It is the middle class that will find life very hard in Singapore, because many of the middle class will NOT be eligible for these financial assistance. You will have to be very very poor in order to obtain these financial assistance.

Another way to help the squeezed middle class is probably reduce the cost of living in Singapore, or rather, reduce FOOD INFLATION. Hawker food prices has been drastically increasing with no let down in prices and something must be done. In future posts, we will highlight good hearted hawkers who sell their food and drinks cheap, unlike those Kopitiam, Koufu monopolies who sell ridiculously high prices for their drinks and food.

You can obtain further information at this website:
http://www.ncss.org.sg/home/index.asp


* The above information is only a short summary of assistance available. For full details and conditions that apply, do contact your nearest CDC for clarification. The contents and opinions stated in this website are solely from Mulia of justicebaogong and we are publishing this in the hope of reaching out to the families and individuals who are truly in need so as to enable them to find the financial help that they may urgently need.

Guarantee Make Money Seminars: BEWARE

Good morning everyone,

This is an article you must read BEFORE you part with your hard earned money to someone else and the person guaranteed to be rich is him and NOT you.

Today we are going to spill the beans on some GUARANTEED MAKE MONEY seminars: Be it FX, Options, Real Estate, MLM, Education, Stocks, Marketing or Internet. You will definitely learn something useful in every seminar, but the main issue is the cost of these seminars.

Economic times are bad, but there are always innovative people who can make money at any economic climate: Most are mainly making big money at the expense of the middle and lower class, but the poor do not realise that, due to excellent marketing and half truth presentations by these marketing maestros.

We spill the beans on what goes on behind the scenes, and the other half truths that are NOT told to you at the seminars, before you make an informed decision to part with your hard earned money.

Everybody wants to make lots of money, and humans are blinded by this desire: They see the testimonials of former participants making money and they think, hey, so many people are making money, then I would too! But what they do not realise is the other participants who LOST money, and their testimonials are not printed.

Fact Number 1: These money-spinning maestros would have a clause requiring students to print their testimonials if they make money, and those who lose money would be brushed aside. If you see it from the BIG picture, its all a numbers game: 100 people sign up for the FX or Options Course, some will make money, some will lose money. It is impossible for everyone to lose money, so all they need to do is to publish these winning testimonials, and you have a small piece of the jigsaw puzzle showing all the glitz and glamour of your ticket to retirement by paying them the course fees. But put in ALL the jigsaw pieces together and you see a good number of participants losing money and YOU could be one of them.

Fact Number 2: Becareful about Guarantees that these maestros claim. The word Guarantee by itself has a calming subconscious effect on your emotional urge to part with your money. HOLD YOUR WALLETS! Observe how the guarantee is phrased:
"We Guarantee that you will make money in your trade!" People who see these phrase would think they are guaranteed to make money: WRONG! These maestros structure the phrases cleverly to play with your mind.

What it means is that if you lose in your first trade, and you lose in your second trade, and you lose in your third trade, but you make money in your fourth trade, the guarantee has been valid, but you still lose money overall! But by the time you realise this, you have already parted with your hard earned money, because the money back guarantee applies if you do not make a winning trade (But you did made money on your 4th trade! so no money back for you).

Fact Number 3: This is an important note: Take Past Performance with a pinch of salt. If the speaker blows his trumpet on his 100% or 250% returns on investment during the past few years, DO TAKE NOTE OF THE TIME FRAME: Between the years 2003 to end 2007, the Singapore Straits Times Index has steadily increased from a paltry 1291 to an all time high of 3906 (Reference: sg.finance.yahoo.com). During those years, every hedge fund was making big money, even your coffeeshop auntie and taxi uncle are boasting of their 300% ROI. So, don't be carried away by these maestro's impressive marketing strategies. The impressive and really outstanding fund managers are those that have made similar returns between late 2007 till now.

Fact Number 4: Normally, the terms and conditions will be given to you after you have parted with your hard earned money, and it usually includes disclaimers where they will make you accept that your investment decisions are done at your own will and any losses will be at your own expense, and there is no refund of course fees. By the time many participants who are losing money realised this, they have no recourse and have to live with it. These are the people we want to help. Of course there will always be the other half which will make money: its because they are destined to make that amount of money in this lifetime, so even if they do not sign up for the seminar, they will make that money somehow in future.

In these bad times, the best way to earn quick money is to sell 'Get rich quick' products: You see it in seminars daily in newspapers, internet,etc, but the law of the universe is that not everyone can get rich: This is a fact; there is only 1 Bill Gates, 1 Mariah Carey, 1 Warren Buffet and plenty of poor people around. Some people who are destined to be rich but are still poor now is because their time is not ripe yet, but when they attend such seminars and become rich, they start their own seminars selling their rags to riches story: Yes everyone should try to have the millionaire mindset, but the law of the universe cannot be changed, or else everyone would be having at least a million bucks in their bank account.

It is always good to attend seminars, because there are much to learn, but we only have limited cash in our bank accounts. Some are charging as much as $2- $3 thousand dollars or even more, and that is way too much. A range of less than $1,000 would be a reasonable range, considering the amount of time and capital you need to recoup the investments, and for the information learned.

The servant of Justice Bao Gong may not share Warren Buffet's wealth, but, having paid MUCH money to help these maestros get richer for their seminars, the least I can do is to share my knowledge with the rest of the lower and middle class who have the desire to obtain a better life for their families. Because after attending so many seminars, the cost do not justify the knowledge learned: Much of these knowledge are actually bits and pieces of information already floating around the internet, it is just placed together in a system and sold to you at a very high premium.

For your information, as all these FX, options and stock trading methodology can be found free of charge in the Web, you just need plenty of time to sieve through and compile the various strategies.

If time permits, I will prepare an ebook on how to trade FX and stocks and distribute free to the masses, so that everyone can benefit from it: It will be the same as what you will receive in these seminars that you pay so much for, but it will be for free.

BUDDHISM:

Buddha commented that wealth should be utilized wisely for the benefit of wife and children, relatives and friends. The foolish make his own misery with the craving for wealth as it happened to another millionaire named Ananda whose attachment was so great to wealth that he advised his son Mulasiri to not give anything to anyone as wealth would decline. He himself too hid his wealth under ground without giving to anyone. And that who was born as a lame beggar who was abandoned by his family itself. (Dhammapada-Balavagga)(http://home.pacific.net.sg/~bvs/economics.htm)

CHRISITANITY:
Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up. Galatians 6:9

(http://www.joministries.com/Seven%20Steps%20to%20Destiny.htm)

ISLAM:

"I know of one who repays a profit of more than seven hundred to a dirham (Arabian currency)." He then recited the verse of the Noble Quran in which Allah Almighty mentioned this profit. "The likeness of those who spend their wealth in the Way of Allah, is as the likeness of a grain (of corn); it grows seven ears, and each ear has a hundred grains. Allah gives manifold increase to whom He pleases. And Allah is All-Sufficient for His creatures' needs, All-Knower." (2:261)

(http://www.sahaba.net/modules.php?name=News&file=article&sid=233)

HINDUISM:

Among the wealthy, compassionate men claim the richest wealth, For material wealth is possessed by even contemptible men. Find and follow the good path and be ruled by compassion. For if the various ways are examined, compassion will prove the means to liberation.
- Tirukkural 25: 241-242

(http://www.writespirit.net/religious_traditions/hinduism/quotes_of_hinduism/index_html/?searchterm=wealth)

TAOISM:
In that state of true enlightenment, you and I will give everything without a second thought… and receive the universe.

(http://www.taoism.net/living/1999/199907.htm)

Mulia
Servant of
Justice Bao Gong

Justice Bao Gong: MAS speaks up- What investors need to beware

In today’s Straits Times newspaper, MAS said it will review the way complicated investments are marketed and sold to investors. That will include risk rating, clearer product labelling and stronger suitability requirements.

MP Cynthia Phua also suggested such financial products should be graded and offered to investors who can fully understand the underlying risks.

OK, the above is what that has been printed in the newspapers. So, what is behind the scenes that the ordinary man in the street need to take note of? In www.justicebaogong.blogspot.com, we explain what the layman needs to know:

Firstly, financial institutions are there to make a PROFIT- their FIRST priority is to MAKE MONEY, everything else is secondary. Take their ‘customers first’ marketing with a pinch of salt. If you do not buy investments and insist on leaving money in fix deposits, you can be assured you won’t be their ‘first rate’ customers. If they tell the whole truth to customers, nobody would buy the products, and everyone will leave their money in fixed deposits or under their pillow.

So what these institutions will do is they will put in place a very good system of reporting to MAS that they have forms and brochures that clearly states the risk of each and every product (which comes in small print and SEVERAL pages), that they give AUDITED training to all their sales staff to ensure that they COMMUNICATE ALL RISKS to customers, and they make their sales staff acknowledge and SIGN on the training forms so that if there is any customer complaints, the institutions, by reasonable man’s standards, have certain immunity as they can prove that by way of the above systems, they have done a reasonable man’s standards in communicating the inherent risks to customers.

So this places the onus on the sales staff or bankers, who are given very high ‘revenue targets’ which they have to meet in order to keep their high paying jobs ( In banking, sales staff remuneration are tied to the products they sell - look out for Justice Bao Kong’s future blogs, his servants will elaborate in greater detail how the bankers’ remuneration works, and you will have a better idea why your bankers don’t tell you the whole truth). These poor bankers are coerced to sign on forms provided by their financial institutions which require them ‘to communicate the whole product risks, structure and other terms and conditions’ clearly to customers and they will be LIABLE for any customer complaints of misrepresentation. These poor souls are facing a dilemma: If they tell the whole truth to customers, it is likely they will not get the sale, and thus they do not achieve their targets and they get fired. So, what naturally happens is that bankers will tell selective truths and run through quickly on the ‘risks’ area and cover them up with the potential of returns, etc such that they did communicate the ‘inherent risks’ to customers, albeit not clearly, and customers get the impression of the ‘potential returns’ but not registering the full risks involved due to the clever presentation by the sales staff. Thus, the turnover rate of bankers are extremely high: The only way these institutions can maintain their high revenue targets is to ‘hire and fire’. Sales staff initially start off achieving their targets, and until a few months later, when their customers have no more money to buy investment products, they get fired and new bankers are hired and they bring in their portfolio of customers, sell products, no more money left to buy, bankers get fired, and the cycle goes on. Just ask any investor on the street how many bankers have they had within the same bank in the period of two years? 6 bankers? or 8? That explains it all.

In summary, when planning to do investments, always take responsibility to do research and speak to friends who have experience. The government can only do so much, the onus is on oneself to protect one’s assets and investments. This is the world of capitalism, every man for himself, profits come before compassion. And this is why we created http://justicebaogong.blogspot.com, to help the man in the street understand more and not be taken advantage by hungry capitalistic corporations.

Your humble servant

source: Singapore Straits Times

Justice Bao Gong: Subprime: What your banker did NOT tell you

Much have happened in the recent weeks in the financial circles. The origin of the financial turmoil is from the American housing market, where a recipe of cheap money then and the American Dream of house ownership coupled with bankers and mortgage brokers too keen to achieve their sales targets resulted in today’s financial mess. How then, does this result in the failure of 2 of US largest investment banks and the downgrade of the last 2 to commercial banks? How did Bear Stearns and Lehman Brothers go bankrupt? How did AIG, the largest insurer in America go illiquid?

Around midyear 2003, US Fed Fund Rate was a paltry 1% (Source: http://www.wsjprimerate.us/fedfundsrate/federal_funds_rate_history.htm), creating cheap money and liquidity. Previously, it was the bond insurers and experienced traditional investors who maintained a standard of risk management by placing a premium on the loans based on the seller’s credit worthiness or track record. But due to the growing competition and appetite of these mortgage brokers, more and more brokers are creating ’synthetic ABS’ or CDOs, collateralised debt obligations. The tight spreads on triple B ABS squeezed the traditional bond insurers out of the market, leaving the subprime securitisation market to the CDO sector.

The problem here is that when brokers package these CDOs, they do not assume the inherent risks involved in the underlying ABS- It is the investors that bear the credit risk. Renowned credit rating agencies rate these CDOs based on the underwriters, ie the mortgage broker or the banks, and they generally obtain very good credit ratings, and they may not rate the underlying asset which are the slices of subprime securities which are difficult to assess due to the intricate layers of packaging.

So, now comes the important part: What your bankers DID NOT tell you:

When investors, especially retirees who invested their life savings, 401k, etc into such structured products, ie minibonds, etc, they are usually not told the whole story. In fact, the name of the product is already misleading. When laypeople hear the word ‘minibonds’ they were given the impression they are buying a double A rating bond linked to the huge investment bank or corporation. What the salesperson may not tell you is that this CDO product is also linked to hundreds of ABS. aka, sub prime securities which are not rated and any credit events occurring on these securities could result in loss of capital.

The salesperson cannot entirely be blamed too. He is also working for a living, and he has revenue targets set by his bank and he will be fired if he does not meet his targets. If the salesperson tells the whole truth to the customer, he will lose the sale and face the possibility of being fired.

Banks make their sales staff sign on declaration forms that on one hand, require their bankers to explain ALL the risks related to the products to their customers, and yet on the other hand, will fire them if they do not achieve their sales targets. This is a fantastic way of protecting the bank themselves while relegating the blame to the sales person if anything goes wrong. There was an article written by a kind certified public accountant to Monetory Authority of Singapore (MAS) but according to the article, not much has been addressed- I have attached the letter for your reference (source: Today Newspaper)

Why do I know so much about banking products? Because I was a former banker, and I have been through it all, and it is time to share with the masses all that is happening behind the scenes, and share with the man on the street things that your bankers do not tell you.

If you find the articles to be beneficial, do Bookmark us (Ctrl D) and recommend the website to your friends so that they too can benefit, and please do send in your constructive comments. If you know of a subject that is currently creating some hardship for the man in the street, please do post it on this blog and we endeavour to research and publish it for the benefit of all.

Your humble servant.

(Source: Today Newspaper)