Instead of Socialism vs. Capitalism, Think Private Property, Debt, Demographics, and Geography
Channel: Matthew Rafat
Date: 2021-05-16

1. In "mid-1997 the Malaysian economy was caught in a financial crisis that arose from a regional contagion effect. The crisis swept Southeast Asian countries into dramatic currency chaos and forced the Malaysian ringgit to depreciate by about 80%, from RM2.50 to RM4.50 per US dollar. In defeating the crisis, the Bank Negara Malaysia (BNM) had pegged the ringgit against the US dollar at RM3.80 per US dollar. The continued shackling of the ringgit to the US dollar led to a 38.1% depreciation of the ringgit. The BNM, however, later removed the peg and allowed the ringgit to operate in a managed float in July 2005." -- from Ahmad, Yusop, Masron 

2. Though "rentier" and "renter" sound similar, they are quite different. A rentier is someone living off of a pension or annuity, i.e., past work or the work of others. A renter is someone who typically lacks ownership allowing a stream of income. 

3. "We are going to have a multi-racial nation in Singapore. We will set the example. This is not a Malay nation; this is not a Chinese nation; this is not an Indian nation. Everybody will have his place, equal: language, culture, religion." -- LKY