The nefarious Malaysian law – The Central Bank Act of Malaysia 2009


Be known that the central bank in Malaysia is “Legalized” and its powers are embedded and entrenched in the Laws of Malaysia Act 701 and called the The Central Bank Act of Malaysia 2009, which repealed the original 1958 Act.

bnm

Here are snippets of the Act which I find suspiciously nefarious in nature and of concerned:

The Act

An Act to provide for the continued existence of the Central Bank of Malaysia and for the administration, objects, functions and powers of the Bank, for consequential or incidental matters.

Part II

Section 3

(4) The Bank shall have its Head Office in Kuala Lumpur and
may open branches and appoint agents and correspondents in or
outside Malaysia

Section 4

Central bank for Malaysia
The Bank shall be the central bank for Malaysia

Principal objects and functions of the Bank
Section 5.

(1) The principal objects of the Bank shall be to promote
monetary stability and financial stability conducive to the sustainable
growth of the Malaysian economy.

(2) The primary functions of the Bank are as follows:

  • (a) to formulate and conduct monetary policy in Malaysia;
  • (b) to issue currency in Malaysia;
  • (c) to regulate and supervise financial institutions which are
    subject to the laws enforced by the Bank;
  • (i) to act as financial adviser, banker and financial agent of
    the Government.

(3) The Bank shall have all the powers necessary, incidental
or ancillary to give effect to its objects and carry out its
functions. {emphasis added}

(5) For the purposes of carrying out its functions under this
Act, the Board may issue by-laws as are necessary and expedient
in relation to the administration, affairs and business of the Bank
or in respect of any other matters as set out in this Act.

PART IV

GOVERNANCE OF THE BANK
Board of Directors
Section 14.

(1) There shall be a Board of Directors of the Bank.

(3) The Board shall consist of the following members:

  • (a) the Governor;
  • (b) not more than three Deputy Governors; and
  • (c) not less than five but not more than eight directors
    appointed under subsection 16(1).

Governor and Deputy Governor

Section 15.

(1) The Governor shall be appointed by the Yang di-Pertuan
Agong and the Deputy Governors by the Minister. {…and as such answerable only to}

(6) The Governor shall manage the Bank and may, unless
otherwise provided under this Act or any other written law,
exercise all powers and do all acts which may be exercised or
done by the Bank under this Act or such written law.

(10) The Governor and Deputy Governors shall be accountable
to the Board for their acts and decisions. {…and NOT to any one else}

PART V

MONETARY FUNCTIONS AND OPERATIONS OF THE BANK
Monetary policy
Section 22.

(1) In promoting monetary stability, the Bank shall pursue
a monetary policy which serves the interests of the country with
the primary objective of maintaining price stability giving due
regard to the developments in the economy.

(2) The monetary policy of the Bank shall be formulated and
implemented autonomously by the Bank, without any external
influence.

Chapter 2

Money market and foreign exchange market
Rules, guidelines, etc., for money market, etc.
Section 43.

(1) The Bank may issue rules, codes, standards, principles or
guidelines for the purposes of regulating, developing, or maintaining
orderly conditions or the integrity of, the money market, the
foreign exchange market or the market for the derivatives related
to the currencies, securities and other financial instruments traded
in these markets.

(2) Without prejudice to the generality of subsection (1), rules,
codes, standards, principles or guidelines may be issued in respect
of the money market, the foreign exchange market or the market
for the derivatives related to the currencies, securities and other
financial instruments traded in these markets

PART VIII

CURRENCY

Right to issue, print or mint currency
Section 62.

(1) The Bank shall be the sole authority to issue currency
notes and coins in Malaysia and such notes and coins shall only
be printed or minted by or under the authority of the Bank.

(2) The Government, any State Government, public authority,
financial institution, other institution or person shall not issue,
print, mint or authorize the printing or minting of currency or any
document or token payable to bearer on demand being documental
tokens, which in the opinion of the Bank, are likely to pass as
legal tender.

Voila!…this is the MOST important part of the whole Act. Now who drafted these words? Under normal circumstances, all bills and acts are proposed and presented by the legislative council, debated upon before its is passed as an Act in Parliament.

It is highly unusual, or rather weird that the legislative who mostly are the executives (Ministers in govern-ment) would shackle and prohibit themselves to anything, and then enact them. No sane group of people who called themselves as the govern-ment would ever commit themselves to any kind of prohibitions.

Imho, this piece of Act is NOT the product of the Malaysian govern-ment, but rather from a “higher” authority and the govern-ment was compelled to do so.

This Act appears on Bank Negara’s website on a page entitled Administered Legislation. What does Administered legislation means? Who administer it? It is not expressed anywhere in the Act who the administrator is, or under which govern-ment ministry it is under. By implication and the absence of any expression it seems to me that it is self administered i.e. by the central bank itself, or the Board, or the Governor. That’s freaking powerful in my opinion.

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The diagram connecting Putin, Rothschild and Rockefeller


…its naive to think Putin is acting on his own

Follow The Money

rockefeller3

http://www.tshirtfaction.com/?page_id=93

“For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure–one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.”  – David Rockefeller (Memoirs, pg. 405)

Check it out here: http://www.tshirtfaction.com/images/illuminati%20members%20putin%20rothschild%20rockefeller.pdf

Script from the diagram are as follows:

A few of the companies majority owned by the Rockefellers

The Rockefellers financed the creation of the CFR.

David Rockefeller was the US founding member of…

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MALAYSIA – #BR1M is a central bank’s HOAX


The govern-ment is bankrupt and is not able to help the people even if it truly want to do it. The shady people’s aid program #BR1M is totally a deception and connived by the central bank, which the PM himself openly declared was the bank’s idea.

Its a deception. The people will have to pay for this billion ringgit project, which obviously is borrowed from the central bank and to be added into the National Debt.

IT IS NOT WRONG TO HELP THE PEOPLE!

IT IS WRONG AND SINFUL TO DECEIVE THE PEOPLE!


The Malaysian Insider

Defending BR1M, Najib asks if it is wrong to help the poor

najib

Prime Minister Datuk Seri Najib Razak delivers a speech during a function in Kuala Perlis, Perlis, today. – The Malaysian Insider pic by Hasnoor Hussain, May 30, 2015.

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There is nothing wrong about giving aid to those who need help, Prime Minister Datuk Seri Najib Razak said in defence of the federal government’s 1Malaysia People’s Aid (BR1M) programme.

He said it was important that the government did its part to help households increase their income.

He said when the economy in the country was doing well, the nation’s wealth should also be distributed to the people.

“BR1M has been increased from RM600 to RM900 now. Is it wrong to help those who face difficulties and need aid?” he asked a crowd of thousands at the Desa Sejahtera 1Malaysia award ceremony in Kampung Kurong Tengar in Perlis this afternoon.

Najib said the government previously gave aid in the form of physical infrastructure like roads but now with him as prime minister, aid was given for the kitchen, too.

“Kalau pandai belanja BR1M, dapur kita berasap (if we know how to spend BR1M wisely, there will be smoke in our kitchens.)

“Previously, the government helps right up to roads. Now we are giving aid right into kitchens. This is ‘pembaharuan’ (improvement),” he said.

The BR1M programme introduced by Najib some time before the last general election in 2013, has been severely criticised by former prime minister Tun Dr Mahathir Mohamad as a form of “bribery” in order to win votes.

Najib insisted that it was right for the government to give aid to help those in the rural areas.

He said even fishermen were now getting RM300 a month to help them cope with the cost of living.

He said previously there was no allocation for such purpose.

He said for the cities like Kuala Lumpur, the government was building mass rapid transit system and soon a high-speed train that travels at 300km per hour.

Such huge projects, Najib said, will generate economic growth that would in turn allow the government to have funds to channel to rural areas.

“The rural development agenda remains a main agenda for the government… nobody can deny that we have all come a long way although we admit we still have unfinished development agendas for the rural areas.

“We need fairer distribution of wealth to the rural communities and that is why we practise growth with equity. Without growth, we won’t have wealth to distribute,” he said.

Najib said he was honoured that it was his father the second prime minister of Malaysia, the late Tun Abdul Razak Hussein, who started the agenda of developing rural areas.

He said his administration would continue to grow the Malaysian economy to fulfil the agendas to improve the people’s lives in rural areas.

“I am confident that this is the right policy. When our economy is good, we can channel more funds for rural development,” he said.

Najib also announced that the federal government will give Perlis funds for its inland port, the Chuping Valley development, and the logistic hub and hospital in Padang Besar.

He said the government will finalise how much money is needed for the individual projects. – May 30, 2015.

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MALAYSIA – WRONG NAJIB, you were not elected by the people to be the PM


The Malaysian political system is quite similar to the U.K. (former masters). There are two sets of constituencies up for grabs for a wannabe politician. As Malaysian is a federation of 13 states, there are as much parliaments,… one in each state. Then there is the Federal constituency and the main parliament. Thus one can run to be a Member of Parliament for State or Federal.

Unlike in the US, the Prime Minister’s post is not directly elected by the people but by the winning party, and conventionally it is the party’s president. Hence the PM is NOT the people’s choice!…Najib is only an elected Member of Parliamnet. Elected by a few thousand people in his relatively small constituency. NOT BY 27 millions Malaysians!

He is a UMNO president and a Prime Minister for UMNO MEMBERS ONLY!

Now that said and put in its correct perspective, he should step down when the people do not want him. But he insisted that he will not step down because the PARTY still support him and that the people in his rather small constituency elected and support him! THAT IS WRONG!


TheMalaysianChronicle

Najib was not elected by the people to be the PM

Najib is on the offensive attack on Dr Mahathir incessantly through his blog writings. The latest of his writing Najib alleges Dr Mahathir as telling lies and all the claims by the former PM against him were untrue. However Najib does not put effort to explain why USD1.16 billion were transferred to Jho Lo’s account from 1MDB. It has been validated that any money transacted in 1MDB has to get the approval of Finance Minister who is also the advisor to 1MDB.

The public has conclusive perception that Najib as the advisor of the 1MDB was the sole person who decides everything on the money dealings in the debt-ridden Company by guarantee now known as GLC. There is no necessity to for Najib to deny the fact, as no one can believe him any longer. Najib has to tell lies stage by stage until he believes his own lies.

Najib insists that he was democratically elected to the position he holds now and Mahathir should stop attacking him as attacking him is attacking the people. He emphasizes that Mahathir should keep away from the government’s goings on and just leave it to the current generation to deal with politics of this country. This is the point that I want to touch briefly as it is not true that he was elected by the people to the PM’s position.

The Prime Minister of this country in actuality is not elected by the people of all races. He was made to be the Prime Minister not even by all the Malays. A Prime Minister Najib is elected and made to be the PM only by Malays in UMNO.

That is the system practiced in Malaysia ever since we achieved independence. Whoever the President of the party is will be elected to be the PM as UMNO is leading the ruling components. The president of UMNO who is also an elected representative to parliament will be endorsed by the Federal Legislative as they have the command of the House.

najib

So by convention whoever among the Legislative members wants to be the PM must strive to be the president of UMNO as that was agreed among the component members of Barisan Nasional (BN). For decades the presidents of UMNO were elected by few thousand delegates in the annual general meeting of UMNO. The almost thirty million Malaysians have got nothing to do with the election of the Prime Minister.

The president of UMNO used to be decided by only three thousand odds delegates. It was only in the last party election where the number of eligible UMNO Malay voters for party leadership was moved up to forty six thousand delegates.

Hence Najib’s claim that he was elected by the cross-sections of the rakyat was utterly baseless and unfounded. When budding and good quality leaders in UMNO were ostracized and systematically ousted from the highest governing lineup in UMNO the choice of the party presidents and their lineups were the choice between the weak and the treacherous leaders.

UMNO has been in vacuum of leadership to the extent that the party has to be dependable on the scums and lowly categorized leaders like Najib and his colleagues in the UMNO Supreme Council and the Cabinet.That’s why UMNO is looked down upon by the ordinary people as the party fails to propose and to upfront viable leaders for them to rest their hope upon for their generation.

The current system of electing a Prime Minister is only good if UMNO can produce to the public the most viable and astute leader to manage the whole nation with high magnanimity and great patriotism for the people to lay their hope for better Malaysia. – http://aspanaliasnet.blogspot.com/

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Malaysia – #1MDB and The Elephant In The Room


…the real culprit in all the recent financial scams in Malaysia is the central bank. 1MDB is scooping all the public funds institutions, and they dare and could do this because of the backing of Bank Negara. A take down on Malaysia is in the process, if Malaysians don’t do something drastic quickly….Malaysia is DOOMED. It takes a person like Tun Mahathir to challenge this elephant, and this is not the first time he has done it…and he has had a minimal success in the past because he was doing it alone. Now is different….the people are with him in this fight. YES Tun, WE ARE WITH YOU! CHASE THIS ELEPHANT OUT OF THE ROOM!

Zeti says:

Bank Negara governor Tan Sri Zeti Akhtar Aziz says the reason the central bank can’t divulge information on 1Malaysia Development Berhad’s account in BSI Bank Singapore is to maintain a healthy relationship with the international community

Its OK for the country to be unhealthy…as long as the international relationship is healthy?

Yes … let 1MDB go on a rampage!

Who owns Bank Negara?https://peoplestrustmalaysia.wordpress.com/2013/09/25/bank-negara-malaysia-central-bank-of-malaysia-who-owns-it/

TheMalaysianInsider

Dr M warns Bank Negara against protecting 1MDB

Zeti Bank Negara

Bank Negara governor Tan Sri Zeti Akhtar Aziz says the reason the central bank can’t divulge information on 1Malaysia Development Berhad’s account in BSI Bank Singapore is to maintain a healthy relationship with the international community. – The Malaysian Insider file pic, May 28, 2015.

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Tun Dr Mahathir Mohamad warned Bank Negara Malaysia today that it could be found guilty of trying to conceal 1Malaysia Development Bhd’s (1MDB) “lies”.

This follows the central bank’s refusal to reveal details of a report it received from the Monetary Authority of Singapore (MAS) about an account connected to 1MDB in BSI Bank Ltd.

“Regarding Bank Negara’s refusal to provide information on the report from MAS, if it is found to be protecting lies about 1MDB’s money that is said to be in Singapore, then this is also a crime under the country’s laws,” wrote the former prime minister in his blog chedet.cc.

On Tuesday, Bank Negara governor Tan Sri Zeti Akhtar Aziz said they had received information from the MAS about 1MDB’s account in BSI Bank, but refused to divulge details, citing confidentiality.

“The international community would not cooperate with us (in the future) if we release the information that was extended to us,” she was quoted as saying by Malaysiakini.

She said revealing the information would “stop all investigations if we talk about it”.

Zeti also cited confidentiality requirements when asked about claims that 1MDB’s account at BSI Bank did not contain cash redeemed from its Cayman Islands investment.

Whistleblower website Sarawak Report said in April that 1MDB issued false bank statements pertaining to its subsidiary, Brazen Sky Ltd’s accounts in BSI Bank in Singapore.

Citing information it had received, the website said the bank told MAS the document did not originate from them.

Dr Mahathir today also hit out at the authorities’ “refusal” to take action on the police reports lodged over 1MDB’s “vanished funds”.

“Instead, the person who lodges the police report is made a bankrupt, his house is seized and he is investigated for allegedly funding terrorism,” said Dr Mahathir, referring to sacked Umno leader Datuk Seri Khairuddin Abu Hassan.

He said it was “saddening” that preferential treatment existed in criminal investigations.

“There are journalists who are arrested under the Sedition Act, only to be released because they have committed no crime. I, too, was often raided by the Inland Revenue department when I owned a medical clinic,” said Dr Mahathir.

He added that civil servants living beyond their means were often probed, yet no action was taken against ministers and “certain civilians” whose lavish lifestyle was public knowledge.

“Malaysians are subject to the same laws. There should be no favouritism and discrimination in upholding the law,” said Dr Mahathir.

Criticism has been mounting over the Finance Ministry wholly owned investment vehicle, established in 2009, which has chalked up debts of up to RM42 billion, backed by Putrajaya.

The Auditor-General is currently looking through 1MDB’s books, with a preliminary report expected to be submitted to the Parliament in June, while Public Accounts Committee started its investigation into the company on May 19. – January 28, 2015.

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Marina Mahathir: Malaysia undergoing ‘Arab colonialism’


MalayMailOnLine

Marina

KUALA LUMPUR, May 23 — Datin Paduka Marina Mahathir has criticised the “Arabisation” of Islam in Malaysia amid the institutionalisation and growing conservatism of the faith here.

The social activist pointed out that that it is very difficult to find traditional “baju Melayu” for women during Hari Raya as Arab attire like kaftans, which are long tunics, became more popular instead over the years.

“This is just Arabisation. Our culture — it’s colonialism, Arab colonialism,” Marina told Malay Mail Online in a recent interview here.

“Kaftans are easy to wear. But what happened to our tradition, culture, everything? It’s lost,” she lamented, pointing out that Malay women below 50 generally do not know how to tie the ‘baju kurung’ skirt so that it falls into pleats and makes it easier to walk in.

The eldest child of former prime minister Tun Dr Mahathir Mohamad said Islam’s biggest problem in Malaysia is the fear of knowledge of the religion itself.

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“Islam has a very strong intellectual history, but there’s no intellect at all in the way Islam is taught here. We’re taught rituals; we’re not taught about the great thinkers and differences between them,” she said.

“When you read the history of Islam when it first came down, it was about doing away with tribalism… but you now have this thing where you’re wanting to go to a tribe, or else, the other tribes, even though all are officially Muslim, are not allowed,” she added.

The Sunni denomination is the prevalent ideology in Malaysia and any other Islamic schools of thought, including Shia, are considered deviant.

Marina also criticised the authorities for “inventing new enemies all the time”, questioning a minister for telling Muslims to watch out for “Quranism” shortly after Dr Mahathir said the Quran is supreme and that hadiths, which are sayings attributed to Prophet Muhammad, come after the holy book.

“It’s a new ‘ism’. Liberalism, pluralism, communism, feminism, Quranism. But racism, fascism, they don’t include,” she said.

Friday sermons sanctioned by the government have repeatedly warned the predominant Muslim community against philosophies like liberalism and pluralism.

Marina hit out at the government’s repeated calls for Muslims to unite and conform, pointing out that it does not allow room for individuality, while Muslim women are criticised when they go against the norm, citing the K-pop concert controversy where Muslim girls in headscarves hugged the Korean artistes, the female BFM journalist who questioned hudud and women in tudung touching canines at a controversial pet-a-dog event.

“Women always get attacked,” said the women’s rights activist.

“The guys get away because you can’t actually tell, unless they’re in a kopiah and beard and they’re touching a dog,” she added.

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Malaysia – The fight is for all us to take on – Dr Azmi Sharom


rakyattimes

...now the fight is for our very humanity

Dr. AzmiI had an insanely busy Saturday, moderating two forums back to back, one in the morning and one in the afternoon. It took its toll. By 5.30 pm, I was exhausted, but I had promised to speak to some young people at a music and political awareness programme organised in Petaling Jaya.

Now, I am actually quite confident about my public speaking abilities. After teaching for 25 years, one gets used to speaking to crowds. But I must admit that yesterday I was one major fail.

I blabbed on about how the young must take up the mantle of the older generation, and how the fight for a better country is something which will be a continuous struggle. I only spoke for about five minutes, but it was excruciating for me. I dare not think how absolutely awful it must have been for them.

I guess age is catching up, and I was simply exhausted, so although my body was in that little venue, my brain was asleep somewhere in PJ New Town.

If I had to do the talk again, my message to those young people would have been different. I would have said that what is happening in the country will most definitely affect them, even if they currently feel disassociated from politics. All those old people holding power do not care if they are running the country economically into the ground. They have no problems lying about it.

And because they are so corrupt, they will do anything in their power so that they can stay in power. This means not respecting our inherent rights, primarily our right to express ourselves. And because there is no respect at all for fundamental human rights like speech, they are starting to encroach into that most untouchable of rights, the right to our own thoughts.

For now, they are only concerned with what we say or do in public, for example, our public expression of discontent. But there are clear signs that they will soon be invading our private thoughts and beliefs.

I would have told those young people that my generation and the generations before us are guilty of not fighting enough. That is why we are in the state that we are in. I would have told them that although I wish that they would bring their energy and strength into the fight, those of my generation must not just hand over the responsibility to them. The fight is for all of us to take on.

And what we are fighting for now is not just about having a comfortable life in a country with a sound economy, it is not just about having our civil and political rights respected. No, now the fight is for our very humanity.

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