fbpx
Connect with us

Social Stories

“Who’s going to work?” Rafizi Ramli Responds to Old Video of PN Suggesting to Print Money to Give to M’sians

Published

Collage 3 3
Source: TikTok | rafiziramli & 123RF

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

RM1 million for every Malaysian household sounds like a brilliant idea that will solve all financial issues, right?

The Ministry of Economic Affairs of Malaysia, Rafizi Ramli said that while the idea may sound great, it is impossible to execute. In response to the suggestion made by Perikatan Nasional (PN)’s Wan Ahmad Fayhsal back in 2020 who suggested during a podcast that Bank Negara Malaysia (BNM) should print money to give to Malaysian households. Rafizi responded via a TikTok video @rafiziramli and explained why the idea of RM1 million for every household is not a wise idea.

“Who’s going to work? All businesses will collapse!”

Assuming there are 8 million households in Malaysia, the government will have to spend RM8 trillion for this purpose alone. The economy and formulae for currency can be confusing, Rafizi said in his TikTok video.

Screenshot 2024 09 23 130055

“If that much of money is printed, inflation will go sky high and the value of Malaysian Ringgit will plummet, making our money invaluable.”

Why can’t the government just borrow the money?

Unless we want the country’s debt to go up as high as 500%, borrowing the money to cater to Malaysian households is not a good idea.

“No borrowers would be willing to lend that much of money. Even if they did, we will be charged with interest coupon, which can go as high as 20%.”

Rafizi explained that every year, the government would have to pay RM1 trillion just for the interests alone. 

Screenshot 2024 09 23 130005

Eventually, it all dials down to the repercussion with the heaviest impact – if everyone is a millionaire, who is going to work?

No business, no working hours, no employees.

“No one is going to work. There will be no businesses and all offices might be closed,” Rafizi said, and highlighted that ideas that sound good don’t necessarily mean it can be executed.

@rafiziramli

Kenapa kerajaan tak boleh bagi setiap family RM1 juta? Betul jugak. Kalau kerajaan beri setiap keluarga RM1 juta, kemiskinan dihapuskan dan setiap keluarga akan berbelanja yang akan merancakkan ekonomi sebab permintaan naik mendadak. Perniagaan akan untung dan pendapatan kerajaan akan meningkat lagi. Mungkin ini pemikiran Ahli Parlimen Machang, Wan Fayshal bila dia mencadangkan kerajaan mencetak wang. Kalau kita cetak wang, mungkin kita boleh laksana idea abang tadi untuk bagi RM1 juta setiap keluarga. Tapi ada sebab kenapa tidak ada kerajaan yang mengambil jalan mencetak wang begini. Jom kita kira: Jumlah wang yang diperlukan untuk setiap keluarga – 8 juta isi rumah X RM1 juta = 8 trilion ringgit Kalau kita cetak wang, inflasi naik mendadak dan nilai ringgit jatuh mendadak. Nanti jadi seperti wang pokok pisang masa zaman Jepun. Kalau kita pinjam, jumlah hutang negara akan mencecah 500% dari saiz ekonomi. Mustahil ada peminjam yang akan meminjamkan begitu banyak wang kepada Malaysia. Kalau ada pun yang sanggup membeli bon kerajaan untuk mengumpul dana RM8 trilion itu, mereka akan mengenakan kupon faedah yang sangat tinggi, mungkin mencecah 20%. Setiap tahun, kerajaan perlu membayar lebih RM1 trilion sebagai faedah sahaja, sedangkan pendapatan kerajaan tidak mencecah RM400 bilion. Yang paling penting, kalau setiap keluarga ada RM1 juta, siapa yang nak kerja? Semua dah jadi jutawan, kita ada masalah kerana semua perniagaan dan pejabat mungkin akan tutup! Sebab itu, ada sesetengah idea ni, walaupun bunyi bagus tapi tidak semestinya boleh dilaksanakan. #rafiziramli #KementerianEkonomi #ekonomimadani #madani #cetakwang #ekonomiMalaysia #Inflasi #InfoEkonomi #wanfayhsal

♬ original sound – Rafizi – Rafizi

What do you think of Fayhsal and Rafizi’s take on RM1 million for every household? Will there be no career left should everyone had that amount of money on their hands?

 

Also read: “At least RM1 MIL income” – LHDN Says Number of M’sian Millionaires Under 30 is Increasing

Collage 35

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 95 Collage 95
News17 hours ago

42-Year-Old M’sian Man to Become First Person in Terengganu to Be Caned Publicly for Repeated Khalwat

A 42-year-old Malaysian widower will be the first person in Terengganu to be whipped in public for repeated Khalwat. The...

Collage 94 Collage 94
News22 hours ago

5 Major Road Accidents Involving Trailers & Containers That Have Happened in M’sia Since 2022

Road accidents happen every day but there has been a significant number of container-related accidents recently.  Unfortunately, most of these...

My Post 1 2024 11 22T162729.854 My Post 1 2024 11 22T162729.854
News23 hours ago

Terengganu Recorded 53 Marriages Involving Underaged Girls Since 2022, Most No Longer Studying

Terengganu has allegedly recorded 53 cases of marriages involving underaged girls in the last 2 years. According to a report...

Collage 93 Collage 93
News23 hours ago

“Only RM124/month for 3 rooms” – DBKL to Take Action Against PPR Residents Who Aren’t Paying Rent

The Kuala Lumpur City Hall (DBKL) has a stern reminder for residents of the low-cost flats (PPR) in the city....

Collage 1 4 Collage 1 4
News23 hours ago

M’sian Doctor Accused of Filming Female Worker’s Backside & Body While She Was Arranging Products

A local doctor was brought to court today (November 22), and is facing charges for allegedly recording videos of a...

Collage 18 2 Collage 18 2
News1 day ago

M’sian Guards Carrying RM200k in Company Cash Tell PDRM They Were Robbed, Get Detained Instead

In recent news, 3 men recently filed a police report after claiming that a sack of money belonging to a...

Feat Image Ayam Goreng Feat Image Ayam Goreng
News1 day ago

Owner of Viral Langkawi Eatery that Charged RM20 for a Small Plate of Ayam Goreng Kunyit Fined RM10,000

Earlier this year, we shared about an eatery in Langkawi, Kedah, that went viral after a customer complained online about...

Feat Image Frenly Feat Image Frenly
News1 day ago

Singapore Voted as the World’s Friendliest City in 2024, No Malaysian City Made it into Top 10

Singapore has been voted the friendliest city in the world in the global luxury and lifestyle travel magazine Condé Nest...

Announcement

Latest Videos



TRENDING TODAY