Speaking to his supporters at a book launch in NUS, Prime Minister Lee Hsien Loong fired a barrage of propaganda fake news including reasoning that HDB leasing is ownership and CPF’s “generous returns” to brainwash his audience.
The corrupted dictator Prime Minister who depressed CPF interest rates at 2.5% for the past 15 years said his mandatory CPF system instils “discipline” on Singaporeans and bragged that the returns have been “generous”:
“The compulsory Central Provident Fund (CPF) saving scheme as another way the Government helps Singaporeans build up their assets. The Government could have addressed this need through a state pension scheme funded through taxes as many countries do. Instead, we built a unique system to help people save up for themselves, and build a nest egg for retirement. The Government helps grow CPF savings by paying fair and even generous interest rates. This system provides Singaporeans with a disciplined way to save for the future and take care of the major financial commitments in life.”
As the Chairman of the country’s sovereign wealth fund company GIC, Lee Hsien Loong access cheap government bonds funded by CPF. Lee Hsien Loong then abused his premiership powers to depress interest rates to alleviate fiduciary return pressure off GIC.
Dictator PM Lee Hsien Loong was also forced to explain the depreciation and ownership of HDB leasing, after the public expressed insecurity and dissatisfaction over his National Day Rally speech last Sunday (Aug 19).
Lee Hsien Loong said he is deeply unhappy with some online comments and expressed his frustration by repeating that leasing is ownership, and promised that HDB value will appreciate forever:
“The argument by some commentators frankly amazing, as many private properties are also held on 99-year leases but no one argues they are merely being rented. HDB lessees have all the rights over their flats that owners of such leasehold private properties have. You can live in it, you can transact it, you can bequeath it to your children – it is yours.”
Lee Hsien Loong also lied that HDB leasing is different from renting, but conveniently left out the fact that HDB leasing requires a 30-year-long mortgage debt and a hefty 10% deposit that jeopardises retirement as compared to the financial freedom of renting:
“Rental housing creates a very different mindset from owning a home, as a tenant lives from month to month and has no interest in the property’s long-term value as he cannot sell the property or leave it to his children. “It is not yours. In comparison, a homeowner takes responsibility for his property, thinks long term and does his best to protect its value.”