TR EMERITUS

US is basically a technically Bankrupted Country with the Highest Debts in the world. China happens to be US second largest Creditor, after falling from the Top position with consistent sell off of US Treasury Bills for the past few years. It's amusing to see how the debtor trying all means to threaten its second largest Creditor with all sorts of things from Semi conductor sanctions, flexing its muscles and making all sorts of threats on China's biggest Tech companies, etc. I can't believe the Americans actually believe that they could get away unscarred by making all these aggressive moves against its Second largest Creditor! Physical war is always regarded as the last resort in Chinese philosophy in Art of War. War, in essence, a contest of sustainability of economic resources in Chinese thinking. This is one of the main reason why Japanese invaders failed in taking down China as it had planned in WWII. In modern context, the first China would do is to disrupt and destroy US economically just by triggering a financial melt down via massive selling of US T Bills! The next thing China would do is to undermine USD's position as the Petrol Dollar! I believe China has already kick started these 2 processes. Not only China is selling off US T Bills in substantial quantity but even US Allies are also quietly selling off! It's an irony that the poor biggest debtor in the world is still trying to raise its debts level just for it to continue its military expansion! It's really amusing to notice that these American politicians are still ignorant to the implications of the erosion of US Petrol Dollar status. The days of uncontrollable increase of US deficits and debts are basically over. Yet, US keeps igniting conflicts around the world! Not a moment in the past 80 years could the Americans live without an enemy! All these are made possible by the Petrol Dollar which keeps feeding US endless built up of war machineries. But the good old days are coming to an end. We have come to a very dangerous cross road. We have a bankrupt country armed with the most number of nuclear weapons! It will take the whole world at hostage! We are witnessing the potential outbreak of WWIII right now because the whole world has fed a fully armed bankrupt cowboy going down in desperation. Desperados will do unthinkable things and I will just hold my breath here.   Goh Meng Seng      Read More →

In the quickly developing commercial environment, the sector of card processors is a niche that is only gaining momentum. According to the 2022 McKinsey Global Payments study, between 2020 and 2021, debit and credit card payments grew by 20% and 18%, respectively. Indeed, starting a business that processes cards might be rewarding, but it can also be difficult. However, it can be profitable if you have the necessary data about debit cards and abilities. This article will outline a step-by-step process for getting a specific license, identify the price of doing so, and examine options accessible on the market. Reasons to start a card processing firm In 2020–2021, the sector of card processors made news with many acquisitions. A few examples are Worldline's $8.6 billion purchase of Ingenico, which resulted in the creation of Europe's biggest acquirer and payment processor. Or the $5.3 billion purchase of SIA by Nexi, which had the lofty ambition of becoming the largest payment service in the EU. It comes without saying that we must also add Stripe, a business that concluded its most recent round of fundraising in March, valuing it at an astounding $95 billion. The corporation increased nearly thrice in a single year, reaching a $36 billion valuation in 2020! The worldwide payment market is still growing and drawing new participants despite turning into a more and more competitive platform. From 2021 to 2028, it is projected to expand at a CAGR of 19.4%. If you’re looking to join this growing field, it is your turn! Ways to enter the card processing market There are three ways to launch your own business. The first is designing your payment-related software or product. It's a risky approach that takes a lot of time, money, and resources. The next option is a white-label model, which entails acquiring ready-made software from a provider and making it available to companies under your brand and your terms. The affiliate model is the third option that fits individuals who want to make money without development. You'll sign a contract with a PSP promising to refer them to new clients in exchange for the agreed-upon sum. Starting a card processing company The following are the basic steps you must do to establish a business: Acquisition of the necessary licenses and agreements. You must first obtain PCI DSS certification. It is a multilayered, complicated process. You must adhere to 12 key requirements and more than 250 sub-requirements combined that are listed in the PCI-DSS version 3.2.1 documentation. Researching the laws in your area is essential because you might need specific permits depending on where you reside. Installment of the hardware and software. Technologies are employed by processing businesses to streamline interactions between banks, retailers, and clients. You might also be open to the idea of renting cloud-based infrastructure. Your cloud provider will build and maintain the server, saving you money on server costs. Establishment of partnerships with banks and merchants. You must build strong ties with banking institutions to conduct transactions. Contract negotiations and the creation of procedures for onboarding new clients may be necessary for this. Promotion of your services. Once everything is set up, you can begin reaching out to potential clients to market your services. The procedure could involve developing marketing collateral, going to trade shows, and connecting with possible partners. Additionally, keep in mind that there will be strong competition because this sector is already very popular. Prices of opening a card processing company Setting up an entity that processes credit cards can be very expensive, depending on a number of variables. Starting from scratch with a minimum viable product will cost you between $150K and $500K, while this amount could be greater or lower depending on your particular circumstances. It will most likely take somewhere between six months and a year to complete. But there are many options available on the market that you might take into consideration if you want to open a business without waiting for a long time and on a small budget.      Read More →

Mr Shanmugam told the House that the general principle is that law enforcement agencies do not disclose the names of individuals who have been, or are being investigated, but there are exceptions. One example is where the offender has absconded or left the jurisdiction while investigations are ongoing. A second would be where the facts of the case and the individuals who may have committed the alleged offences are already publicly known. Thirdly, the names may be made public if there is some public interest in disclosing that investigations are underway. “Such disclosure has to be weighed against possible prejudice to the individuals concerned,” said Mr Shanmugam. But this does not mean that police will automatically publish the names of the individuals under investigations, if their names had been made public in other earlier proceedings, Mr Shanmugam added. The authorities will have to take into account many other factors. Minister Shanmugam said: "Thirdly, the names may be made public if there is some public interest in disclosing that investigations are underway." "Public interest" is a phrase that defies interpretation and understanding. Who knows what the public is interested in? Should there be referendums and surveys before the ministers can say that there is public interest? Even with surveys and referendums, it is hard to ascertain whether there is or is not public interest as most people are not interested. The Swiss have referendums for everything. But how many Swiss can be bothered with the stacks of documents they receive every week? I think the ministers should come clean and take responsibility for what they do. If they choose to disclose the names of those investigated, then say that they have the power to do so. There is no need to justify. The Oxley saga has been going on since Lee Kuan Yew's death in 2015. I don't think anyone is interested in the preservation or destruction of the house. The more this topic is being trumpeted in parliament or elsewhere, the more Singaporeans are embarrassed that such a family dispute is now known all over the world. Instead of building bridges and making attempts to reconcile the siblings, the ministers are in fact tearing the family even further apart. Responsible leaders do not behave in this way. The world is nearly at war. They should be thinking of how to save us from entering another world war and not fanning the fires in family disputes.   Teo Soh Lung      Read More →