Wednesday, July 18, 2012

An evil empire ....

The United States of America is an evil empire. Not satisfied with the destruction of Iraq and Afghanistan, it now plans to destroy Iran. It is now doing all kinds of things to get other countries not to trade with Iran so that if its plan succeeds to impoverish Iran, then it hopes that Iran would abandon uranium enrichment thus preventing Iran from having the capacity to produce nuclear bombs. 

At one time, it succeeded in overthrowing the democratic government of Mossadeque to replace it with the dictatorial government of the Shah who was, in turn, overthrown by the Iranian people in 1979. 

It all started when Mossadeque nationalised the oil companies owned by the British in Iran. Prior to the drastic steps taken by Mossadeque, he had requested, negotiated, and even begged, the oil companies to share some of the oil wealth with the Iranian people. The greedy oil companies, supported by the British government, refused, saying that no way would they give a penny to the Iranians because they believed that it's they who developed the oilfields and produced the oil. The only benefits that the Iranians were to get was employment. Wasn't it not enough for the Iranians to have jobs in the oil companies ? The fact that the oilfields were in Iran didn't matter to the oil companies. 

Mossadeque had asked for 25% of the oil revenue be given back to Iran for his government to develop Iran and for his people to improve their living standards. The oil companies simply said "fuck you" you dirty, backward Iranians. Who do you think you are messing with. We are British, who are far superior to you,  you sob Iranis. 

When subsequent talks and more talks proved futile, Mossadeque, exercising Irans's right as a sovereign nation, decided to  nationalise the oil companies. For awhile since then, Iran got to enjoy all the benefits of the oil wealth. In retaliation, the British government undertook various measures to prevent Iran from selling its oil and succeeded. But that wasn't enough for it reckoned the oil by right belonged to the oil companies and it would do anything to get hold of the oil again.

Winston Churchill, who was then the PM of Britain, quietly complained to President Eisenhower of the goings on in Iran and persuaded the US to do something about it. Eisenhower needed no prompting to do something about it since he hated Mossadeque as he mistakenly believed that Mossadeque was a communist. In no time, he got the CIA. together with the British MI6, to conduct covert and overt actions to overthrow Mossadeque and before long Mossadeque, in August 1953, was overthrown by the Iranian people, the very people that he was fighting for. He was arrested and incarcerated in prison.

In his place, President Eisenhower installed Mohd Reza Shah Pahlavi as King, and CEO of the Iranian government. The Shah took the job as duck took to water and ruled Iran as he thought Iran ought to be ruled, at first ruling wisely, but later ruling dictatorially. He had his gestapo-like SAVAK to bully and oppress his people without any criticism from the West especially the US since, according to US, Iran under the Shah presented a bulwark against Soviet expansion during the Cold War. The oil companies got their oil back while the Shah was dined and wined by the Kennedys and Hollywood especially during the time when oil was the kingmaker and the Shah's Iran stood above the second richest oilfield after Saudi Arabia. During this time, the Shah was under the delusion that he was an oil strategist, claiming credit for being responsible for the quadrupling of the oil price when in reality it was the Arab Sheikhs, under the leadership of one Sheikh Zaki Yamani, who were the ones responsible for price increase. The Shah was merely a follower, a Johnny- come-lately.

[During about this time, there circulated a book, disguised as a work of fiction called the Crash of '79 written by Paul E Erdman, a Swiss writer. In it, the writer claimed that the Shah had designs to become a world power and in fact had produced several working nuclear bombs. The crash he referred to was  the banking crash brought about by a concatenation of events starting with the transfer of wealth from the West to the Arab countries, the Shah's war with the US when he detonated nuclear bombs on Saudi Arabia, and the retaliatory US's destruction of Iran's nuclear facilities, including causing the death of the Shah. The Shah had not realised that the nuclear devices that he detonated contained radioactive cobalt with a long half-life whose fall-out had rendered Saudi Arabia's oil inaccessible to any one.]

Little did the presidents of the United States, their CIAs and military know that, under the Shah who was deluded into thinking that he was popular in Iran [who now styled himself as Shahanshah-king of kings or emperor, to wit], there was an undercurrent of dissatisfaction amongst the Iranians. The Iranians who were of the more disciplined Shiite variety of Muslims did not like their country be spoiled into hedonism under the secular administration of the Shah. They didn't want to be like the nightclubbing, womanising, hypocritical Sunni variety of the Muslims such as those from Saudi Arabia, and completely surprised the West by kicking out the Shah and instead welcomed the religious cleric Ayatollah Khomeini as spiritual leader for Iran in a historic 1979 revolution.

The Iranians have by this time know how to produce and market their oil and have accumulated enormous oil revenue. They were no longer obligated to share the oil with the predatory British oil companies that have exploited Iran in the last 40 years.

With more wealth from oil, the Iranian government managed to industrialise its country and improve the education of its people to such an extent that the brilliant ones became scientists of high calibre. In fact, it's the only Muslim country that was capable of making nuclear bombs given the right environment. That's what cheesed the Americans for they feared the people of the Middle East's capacity to make sophisticated weapons particularly weapons of mass destruction. The American administration are determined that no weapons of mass destruction are produced by countries in the Middle East, with one exception, which is Israel.

In the aftermath of the fall of the Shah, the boycott by the West by way of not trading with Iran on high tech goods such as jet fighters, sophisticated weapons, missiles, and so on was a blessing in disguise for the Iranian people; for then they realised that they had to produce them themselves. Spare parts and avionics that needed replacements for the jet fighters were made by the Iranians and old weapons bought during the Shah's era were improved and innovated. [It's interesting to note here that when Saddam Hussain realised that his sophisticated jet fighters, acquired from Russia and the US, were to be destroyed  during the first Gulf Far, he had them flown into Iran and in effect donated them to the Ayatollah - much to the Iranian's surprise. Pangs of conscience must have pricked old Saddam Hussain for attacking Iran in the Iraq-Iran War]. Following their frustrations, the Iranians became determined to produce all kinds of weapons from light weapons to battle tanks, to fighting ships, to rockets and missiles, and to a host of other weapons. Lately, they have managed to capture some UAVs, the so called drones, that entered Iranian airspace. It would not be long before Iran started producing their own drones.


Tuesday, July 17, 2012

What CBT ....

A former group chief executive of Sime Darby, Zubir Murshid, is being charged today for CBT (criminal breach of trust). One news media said that he failed to take legal action or failed to instruct against or to rectify the award of 2 pieces of land in Sarikei Sarawak to 2 companies resulting in a loss of some RM 101 million to Sime Darby. By his inaction, Sime Darby was forced to acquire the 2 companies. That was the gist of his being charged for CBT. The lands are Native Customary Right lands (equivalent to the Malay Reserve lands in Peninsular Malaysia).

I have been trying to figure this out. What I know of CBT is that when you entrust someone with your own money, that someone  uses it for his or own benefits without letting you know. That constitutes a crime of breaching your trust in him or her. Another example is when a manager of a company makes use of the company's money or property for his benefits, he then commits an act that is considered as CBT.

IN Zubir's case there were 2 companies involved. One was Vertical Drive Sdn Bhd (RM 85,023,047.20) while the other was Nature Ambience Sdn Bhd (RM 16,816,217). It was not mentioned who owned the 2 companies - whether they were 2 ringgit companies or companies owned or within the control of Zubir or companies to be temporarily used by Zubir before acquisition by Sime Darby. Another flaw in the charges was that when millions of ringgit were involved, it was not a one man decision. It is usually a board decision, albeit recommended by the CEO. This is a common practise. I have a feeling that the Chairman, Musa Hitam at that time, was not involved and was chagrined by the fact that he was left out in the decision making. Zubir was accused of failing to inform the board for the decision of Sime Darby's acquisition of the 2 companies. What Zubir Murshid should have done was to call for a full board of Sime Darby in which the Chairman, willy nilly, had to be present in the decision making process.

For the moment, what with the scanty news from the media, there's nothing much to say on this case on Zubir. He, of course, pleaded not guilty and was allowed bail. There was a picture of salt and paper haired Zubir, properly attired in suit, beside his defense lawyer. It was actually puzzling that Zubir was charged with CBT on land transaction in Sarawak when this all started with Sime Darby being hit with an RM 1.8 billion loss from its energy division some 2 years ago. One tends to ask who awarded the NCR land to the 2 companies. Was it the Sarawak government or some other entity ? Or were the lands purchased from some companies ? Have the lands got something to do with oil palm development in Sarikei Sarawak ? It looked to me that someone wanted to "done him in" as Eliza Doolittle would say.

To be continued ....


Monday, July 16, 2012

The funny currency that is the MYR ....

First of all, I am a bit suspicious when news has it that Bank Negara is printing new notes. The first thing that comes to mind is that  BNM is increasing the money supply. It's OK if BNM prints new notes to replace old notes without introducing more notes into general circulation. But it looks as though that institution intends to increase the money supply. 

That's why now the MYR is reducing in value compared with the USD, the Sing dollar, the Swiss Francs and even the Thai Baht, as soon as the new notes are introduced. Some 2-3 years ago,  it took RM2.30 to buy 1 Singapore dollar. Today, you need RM 2.54 to buy the Singapore dollar. The same with the USD, the so called toilet paper. Now, you need RM 3.20 to buy 1 USD. Which is the toilet paper now ! What is wrong with our money system ? No reasons were given as to the devaluation of the Malaysian ringgit.

It won't be long before prices of goods start increasing. The government claims that current inflation is held at 3 percent. My take is that inflation rate will increase gradually by a percentage amount that the money supply is diluted.