Q3: On the tariff war
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- Опубликовано: 7 апр 2025
- Senior Minister Lee Hsien Loong took part in a fireside chat at the opening of Singapore Maritime Week on 24 March 2025. The session was moderated by Ambassador Chan Heng Chee, Ambassador-at-Large at the Ministry of Foreign Affairs.
The transcript is available on the PMO website: www.pmo.gov.sg...
(PMO Video)
The only eloquent leader who can reconcile the differences from the various superpowers and posit a balanced view that the world should heed.
I wish he lives long and stay sharp for many many years to come so that we all can benefit from his wisdom ❤
Ditto!
He rod already can relax
America debt 436Trillion, Wasteful spending by the Billions, Illegal immigrants by the millions, Violent and so on. Maybe best way is close one eye and go for more vacation like joe biden. Trump does not have the luxury like LSL everything is in good order when he took over from GCT and his late father. Can you see the differences? Talk is EASY
Brilliant response Sir. So much wisdom from Singapore
Such a relief to hear a sane and logical, also diplomatic, voice, in these times of astonishing stupidity and thughishness arising from the United States.
It sounds to me like he somewhat agrees with what the U.S. is doing. He's saying he hopes it doesn't escalate too far and that everyone should hang tight and remain calm. He also acknowledged the need for long-term security and self-sufficiency over short-term prosperity. I dont think he has the same view that what the U.S is doing is wrong.
Trade access is a privilege, not a right.
@@tobynguyen5588nowhere does he implied that, he literally remarked how these similar measures caused Japan to attack Pearl Harbour.
"If goods dont cross borders, soldiers will" - Frederic Bastiat
@@HareezHalilHaronhow are these similar measures? 25% tariffs is in no way similar to U.S oil embargo on Japan due to invasion of the Asian Continent. Japan attack Pearl Harbor because they need to take out the U.S pacific fleet to by more time to control SEA. Not because of "similar measures".
No need to exacerbate the tariff issue, the US is not heading toward isolationism like it did in WW2, so goods are and will continue to cross borders. No need for fear mongering.
@tobynguyen5588 the US has been notorious for betraying the very values in free trade that theyve been promoting by imposing sanctions, bans and tariffs to its geopolitical enemies and allies.
Singapore is lucky to have such visionary and knowledgeable leaders..❤
Like father like son. A wise man.
As Mr Lee is no longer the PM, he has more leeway to speak less diplomatically! a little more of hard truth.
Yet they still posted it on the official Singapore PM RUclips account? 🤨
@@riptyurass302PM and PMO is not the same thing bah
@@FOOJunHanyou boot licker for PAP lah
Well said, indeed!
I don't even know how this video was recommended to me, but this gentlemen seems very knowledgeable. Great stuff.
Former PM of Singapore fyi. And so was his father (also a founding father of the nation). I'm not naming both hoping you will be curious enough to look them up - because they're both instrumental in creating the greatest city-state on earth.
Apparently, U 2be has loosened restrictions on the real news from as ia.
Senior Wrangler of Cambridge University.
The Senior Wrangler is the top mathematics undergraduate at the University of Cambridge in England, a position which has been described as "the greatest intellectual achievement attainable in Britain".
papinreview.blogspot.com/2017/06/lee-hsien-loong-brilliant-mathematics.html
comprehensive article on the former PM : papinreview.blogspot.com/2017/06/lee-hsien-loong-brilliant-mathematics.html
The man was born in 1952 and he describes history before ww2 like he lived it. Truly a learned man. Respect.
Dunno what hardship it is as what his father has been gone thru.
@@BritskNguyen earned million dollars , have so much private secretary give note's
Thank you so much Pa Pa Lee Hsien Loong thanks 🙏🙏🙏👍👍👍 Pa Pa Law Renc 2 Wong love you so much Pa Pa 😘💕😘💕🙏❤️❤️❤️
有鬚就係你，亞伯。
Well said Sir! Always stay healthy!
Totally agree with Mr Lee
it's so good to hear logic, and a sound mind talking facts and opinions.
Very good very insightful! Another perspective that I only saw from this guy
He is very smart and well informed .
"Never interrupt your opponent when hes making a mistake" 😂❤
so much wisdom and clarity, thanks to Singapore
60% of Americans have the reading ability of a 5th grader.
Let that sink in and let that explain why something is happening the way it is.
Yup. I'm beginning to think that at least half of the 77 million who voted for Trump are dumber that your average non-US 5th grade student..
And yet America is still the strongest nation in History. Imagine if they could bump up to 8th grade! 😂
@@tpt5560 thanks to non white
exactly, its better that way for trump. easier to control the population.
❤ Singapore
Brilliant!!!
Thanks for your views mr Lee
Thank you so much 👍👍👍 Pa Pa Lee Hsien Loong thanks 🙏🙏🙏👍👍👍 love you so much Pa Pa 😘💕😘💕🙏❤️❤️❤️
This is not a platform to lick boots
Personally , I think SM Lee should not step down so soon, maybe he should hold the fort till 2030. He is a great PM.
One of the best prime Minister... the man of great wisdom...
Great foresight
Well said❤❤❤
有遠見的領導者，最後有關信仰之爭，才是真正潛在的力量，不看選舉的表面，而直指核心
My family is very lucky to have immigrated to Singapore 25 years ago, else he never could have been my prime minister.
I love this guy!
We do have an organization called WTO that operates a global system of trade rules, with its core function being to ensure that trade flows smoothly, predictably, and freely. The problem is that powerful countries can ignore it, and no one will bat an eye lid
Brilliant mind
true master ⚔
oh tariff means less demand , no need for more foreign workers.
Bro described the consequences of the smoot hawley tariff act from the 1930s like he is reading it off wikipedia. Even said "People may have forgotten this"
American exceptionilism is ending when might is right.
Humpty Dumpty $ will fall. In Gold, we trust.
Let me explain what our leaders are not explaining in simple terms. I am not an economist but I think some people seem to be blowing this up unnecessarily. Correct me if I'm wrong. But how tariffs work is like this: American Business A in the US imports Singapore made products from Singaporean Business B OR American factories based in SG. Only Business A in the US pays the 10% surcharge TO the US government. Business B DOES NOT have to pay that. However, now American Business A has to increase the cost of the products to its customers in the US because they have to pay the US government extra. The customers may eventually not buy because it's now expensive and the US company stops importing Singapore made products. In 2023, US imported $32.9B worth of SG made products. We may lose or not lose that much of business to the US. At the same time, the US economy suffers too if they do not get the products that it needs. Let's not forget there are other trade partners globally as well. The world has changed since the 1930s. I don't think we need to rely much on the US in this present day. I don't think that our cost of living is going to increase from this issue either. So there's no need to be alarmed in that sense. Chill.
Basically, we import more from USA vs USA imports from Singapore, in terms of how USA calculated the “Tariffs” which does have a major flaws on how they calculated?! that would means that Singapore is at deficit 🤣🤣🤣🤣 and they still put us at 10% which is a joke. But let’s all
stay calm and brace ourselves..
Maybe a long winded response but my believe the fundamental cause would be fairness in trade and willingness to shoulder agreements made is key to stop the use of tariffs...
Pray that humanity cherish mutual coexistence and refrain from harming each other because of ideology.
Competition is a constant, existing at all levels, such as cell, interpersonal, workplace, society, country. It is naïve to think cherishing or praying can solve such problems. If so, the world would have been easily a paradise. Sometimes conflict is a good way to resolve fundamental issues.
Homie looks good after his retirement!
Yes, much less stressed 😁
A wise man. Great genes + personal hardwork + EXPERIENCE + humble manner. You lift Singapore up. Thank you. When Chinese people appraise Deng Xiaoping, they dont realise how great job was done by Jiang Zemin. When the world appraise LKY, we must also appreciate how fortunate we have LHL.❤❤
This is why I’ve always said I love LKY but I love LHL more 😂❤🇸🇬
Strange for Singapore 🇸🇬 to just being imposed only 😅😅😅10% tariff by the USA
While reciprocal tariff may not yield the intended purpose of normalizing the trade deficits between conflicting countries, it will nevertheless yield a draw of beneficial investments to the country that holds the purchasing power domestically. The Trump administration's agenda is for the latter I believe.
LHL should continue as PM
This is the reason now the Asean should stick together.
Does the senior minister overlook the expansions of Japan into China, Korea, and SEA beginning in 1937 and with the alliance with Germany in 1940. Those actions brought the war to the Pacific. The embargoes by the US, as a then-neutral nation, were to impede Japanese expansions that were made to support the war in China and the invasions of Indonesia, Malaysia, and Thailand. Does the senior minister imply the war in the Pacific would not have occurred had the embargoes not been implemented. Reminder that as Pearl Harbor was attacked, the Japanese diplomats in Washington were scheduled to meet with American counterparts after the attacks? That is history I believe his father would not have ignored or rewritten. Clearly, Singapore see the threat of the CCP as manageable and desirable. Perhaps the Malay and Indian citizens of Singapore have a slightly different vision?
Tariffs can have good outcomes too, such as encouraging domestic production.
Both china and US are entirely different individually from the old days. US seemed to stir up the world unknowingly or nonchalantly. And the world needs to stay focus, calm and peace for better solution
LHL was being witty with the cars to tanks remark. Sadly the Europeans are very serious about it. It'll be unfortunate if the Europeans will proceed as planned.
Singapore needs to be fiscally discipline, diversified and beef ourselves for any trouble times ahead.
We need to think of how we can ensure our supply chains are secured especially food, water, oil and gas.
Frankly what is the best case scenario or end game????
I don’t see any light at the end of the tunnel.
I think he need to explain it to the penguin at the Macdonald Island. They don't seem to understand. They don't have an General Election soon.
Never knew the reason why Japan attacked Pearl Harbour until now.
Z Germans as well had some grounds, but your not allowed to talk about that
Wisdom
So the prime minister is against free trade and equal tariffs
The embargo he talked about are in response to Japan's military expansion into neighbors like China, so the fighting had already started, but he sounded like that the embargo led to the war (bombing of Pearl Harbor).
Japan expansion was a response to colonialisation of Asia that deny Japan more market and resources. it didn't start only after their military expansion. UK put 300% tariff on us, so there is no way we can trade with Japan. we are force to sell our resource to UK and buy inferior UK product. that is what colonialism is really like. I am not saying Japan is not at fault, they were copying what the British are doing, and if the west has not attempted to colonised Asia, we would be able to trade openly and mlitary expansion would never be neccessary to ensure economic survival. why the US help destory the british and french empire after WWII is because US understand this, if the empires exist, US too will not be able to buy and sell to most of the world. do you understand now?
@@lagrangewei Of course the web of causality goes far back in time and I only expanded a bit beyond what LHL mentioned/insinuated, the point precisely being that the situation was not as simple or one-sided as he implied.
How to successfully
Maybe Trump should listen to these 6 minutes of logic and wisdom .. will save the Global markets Billions of dollars and the common man a lot of pain.. the extent of collateral damage inflicted with the reversal of “globalisation” is immense and unnecessary ..
It is clear that ASEAN should begin building our own industrial systems and components to reduce reliance on foreign powers, not even for oil.
We must focus on developing our own value-added products and capabilities.
And to achieve this, we need millions of PhD graduates and industrial leaders across the region.
Foreign oil, foreign chips, foreign tools, how long before we’re cornered as a bloc like in WW2?
Imagine a regional block where all the kings and sultans form a supermassive "Royal Venture Fund" that transcends even the political red tape of their own lands. Innovation will go much much faster. Of course systems must be implemented to prevent shady corruption from happening. But everything about it is for ASEAN's rapid growth, a parallel growth engine that works alongside traditional banks and VC firms.
Further, Singapore can take advantage of its favorable tariff treatment by the U.S. in several ways:
With lower tariffs compared to other nations, Singaporean companies can export goods to the U.S. at a more competitive price.
Sectors like electronics, pharmaceuticals, and precision engineering can expand their U.S. market share.
Multinational corporations (MNCs) can set up production or regional headquarters in Singapore to leverage the lower tariffs.
Companies from higher-tariff countries (e.g., China, EU, or ASEAN neighbors) may relocate part of their operations to Singapore.
Singapore’s status as a global logistics and transshipment hub allows it to act as a gateway for goods moving into the U.S.
Firms could assemble or process goods in Singapore before exporting to the U.S. to qualify for the lower tariffs.
The U.S.-Singapore Free Trade Agreement (USSFTA) eliminates most tariffs, making Singaporean exports even more attractive.
Companies based in Singapore can explore new product lines or increase production to take full advantage of this FTA.
Lower tariffs encourage U.S. firms to collaborate with Singaporean companies in R&D, technology, and digital trade.
This is particularly beneficial in areas like semiconductor manufacturing, AI, and biotech.
Overall, Singapore’s low tariff status gives it a unique advantage to boost exports, attract investments, and solidify its role as a strategic trade hub in the region.
"Sectors like electronics, pharmaceuticals, and precision engineering can expand their U.S. market share." Trump floated tariffs on semiconductors and pharmaceuticals in February, suggesting levies would be “25% and higher” and would become “very substantially higher over a course of the year” unless companies shift production to U.S.-based facilities. You think we are gonna to be exempted when Trump announce his tariffs in these sectors?
Wah handsome
Amazing
War started with Pearl Harbor? Did Mr Lee meant when the US fully joined the war instead?
Cause the world war started earlier when Germany and Soviet Union invaded Poland leading to British and France declaring war (west) and when Japan invaded china and the surrounding area. (East)
Pearl Harbor happened right before Malaya invasion
US was providing aid before Pearl Harbor by sending resources to the British
Recession is just one of the reasons, there were already a lot of unrest after ww1 from treaty of Versailles and nationalism being popular
Why did not one mention the great depression started because of the removal of gold standard ?
@tarbybahbell4086 that’s because the Great Depression started in 1929, the gold standard was removed by the British in 1931 and was removed by the US in 1933.
The Great Depression started from other reasons. Whether the removal of the gold standard affected the Great Depression is a different debate
@hoshimiyaeki so the crash actually happened because of overconfidence in the stock market in the 1920s? I always thought the removal of gold standard made the recession worse.
He said world war on the pacific side started with pearl harbor, which is true. Prior to that it was one sided colonialism
@@tarbybahbell4086 there were many reasons that caused the Great Depression, not just one.
During that era, more people started to get into stocks, however due to economic uncertainty such as reduced world trade due to tariffs and other reasons, the stock market crashed. People started panic selling their stocks, leading to more and more people following suit.
It’s more like a domino effect that led to the recession, companies had less money due to the economic state and stock market crash, then the people feared about not having enough money and reduced their spending, slowing economic circulation.
People had less money to put back into the economy (example: people are scared about spending, the company that sells the things doesn’t make a profit and everyone working for that company as such cannot make a living and put money back into the economy by buying other things from other people)
Rinse and repeat and that’s more or less how the Great Depression started.
What didn’t help as well was the then USA president Herbert Hoover tried to prevent wages being cut so people still had income, however that led to companies firing people instead due to lack of funding to support their workforce size, which resulted in even more people not having money to circulate.
For the whole country’s economic point of view, this prevention method does not really work.
Interestingly enough, the onset of ww2 stopped the Great Depression as it opened up jobs in weapons factories and jobs in defence and warfare. It can’t be understated much that a lot of world powers such as USA’s economy came about from war.
Always so insightful, make you think. I wish we have more leaders like LHL
1:15 right sir ❤❤
not all good things are good. Not all bad things are bad. If theres no WW2 we might not have Singapore.
Mr Lee is a Senior Wrangler which is the top mathematics undergraduate at the University of Cambridge in England, a position which has been described as "the greatest intellectual achievement attainable in Britain".
His math genius is tapping on 80% population daily to feed them 20% daily monthly n yearly stability with big pay cheques and yet public daily on retrenchment..The union is only look good but useless bunch of paper general for their own pocket.😂🤣😅🤔🤫🫣
Singapore was a very good city with quality before (before 2007). but not for staying comfortable with strong sauna feelings. Anyway I like my Singapore neighbours who can totally rely on the government which Canadians can not
I have to say I'm surprised how badly he misrepresented the part about Japan and Pearl Harbour. Factually and contextually incorrect. Should be POFMAed.
Whats incorrect about it?
@HareezHalilHaron the bans were not business related. Rather, they were in response to Japan formalising their alliance with Germany, plus their invasion on China and Indo-china. Japan were already aggressively expanding their reach into SEA. To suggest they attacked Pearl Harbour due to the sanctions is both presumptions and incorrect. I'm no historian but the relevant info should be easily available online :)
@@kianmetaru the attack on Pearl Harbour was still the result of the aforementioned sanctions. It couldnt have been because of anything else.
"When goods dont cross borders, soldiers will" - Frederic Bastiat
@HareezHalilHaron that's not true. The attack was an attempt to prevent the US from getting involved in the Pacific theatre of war. Not because of sanctions. And i find I'm amused that you use a quote to pseudo justify your assertion. As i mentioned, the facts are easily available:)
F the goods at foreign made. Or an American manufacturers who had to close down because of dumped cheap products on the us market. What about all the people of the USA who have built up all these countries made themselves rich by advantage of USA consumerism. Answer this question why should we accept say Indonesian Foods at zero percent while they charge USA foods at 300%?
Response may not come in the form for tit for tat. Doing nothing can be a response. But I believe that the tariffs will be implemented in a controlled fashion.
Instead of fending us from a inflation crisis. PAP still hit us hard on increase taxes across the board. Nothing was spare inflation have cause food, petrol, water and necessary commodity to sky rocket. Some important commodity have double it prices in these recent years. That have cause the city state have become the most expensive city state to live in.
They are the source of income revenue to operate singapore..to secure their team existence in the country , u think for us, everyday singaporean are contributing to their stability,but not us, our livelihood is on retrenchment like never b4 worse than 2004 when lky was around and yet they still having huge pay cheques bigger than lky the founder himself..😂🤣😅The greatest laughing stock is we are highly educated yet everyone become grad driver n delivery man at the end of nus n ntu certificate..😂🤣😅🤔🤫🫣
Crap argument, look elsewhere - inflation is a global phenomena
Actually people keep complaining about taxes should go live abroad to understand what taxes you are paying here. The real issue is uncontrolled hospital fees, rental fees and property prices. They are the culprit of what driving food, consumer goods up. The evil entities are putting the unreasonable cost onto consumers so that they can continue to achieve high profit margins year on year. Get the facts right. Inflation of 1 to 3% is decent, but rental/ hospital are going at 6% to 12% a year
yeah war is inevitable.
My take is that all countries should not impose tariffs. If any country imposes tariffs, the country on the receiving end has a right to respond with reciprocal tariffs. That’s fair.
The tariff is good for USA.😊😊😊
WTO is not great. it might appeared to be great.
why should other countries imposed tariffs on USA and USA cannot imposed tariffs to others based on the actual trade surplus and sound assessment ???
There is time for everything.
Everything happens for a reason.
36 trillions debt time & reasons up for reasons by Trump.
Ah yes the tariffs between China and "their opponent". Notice how LHL avoided naming the other party throughout.
Also his memory and knowledge of history is ridiculous
Would you want to offend the biggest radical terrorist in the world.
Freedom of speech has its limit. He is just been prudent.
We might be actually heading to WW3.
What Mr Lee said is the best way out for 2 super power nation but it's ain't come easy for both to agree terms
If one country can just draw nine dashes on the map and claim that certain territory belongs to them, then it is paramount that there is another country (or countries) in the world that has capability to stop that country from grabbing land or sea. Therefore, U.S. needs to cure its own ills and become strong. I am surprised that leaders of countries in the middle of the territory that is being unlawfully claimed do not see that.
which is why almost all country leaders in the asia pacific region have openly expressed the need for US presence in this region despite having high trade transactions with China.
@ But our dear leader seems to say U.S. is causing havoc and uncertainty in the world now. He can look beyond the Pearl Harbor attack, but he can’t beyond what is causing Trump to do what he is doing right now.
@@nigeltoh9945 right on the money! he talks like a diplomats.. and doesnt see the evil that created all this in the first place.. Japan attacked Pearl Harbor! Germany started the war.. not because of Tariffs! Now, China has been very aggressively stealing American's technologies over the years.. and refusing Google, Facebook etc to be available in China.. why should we allow TikTok to be in USA? China has all the data of half of US citizens! Americans have been paying for these.. and making all lot of countries rich.. but, they still have tariff on US made products! so,, why not the tariffs!! now, factories are coming to USA.. and investing in USA.
China had never colonised another country. China is our only hope for our continued peace/prosperity/humanity in East Asia. The 120 year-old Philippines (and QUAD/AUKUS) should stop being troublemakers in this peaceful ancient South China Sea region! I am from Singapore btw... 😊
Yr country can draw any boarder you like.
Firstly would the world agree. When it was drawn , no other countries opposed.
Second does yr country has the Power to do so.
Third don't be a sour grapes if and when you can't do it.
It's simple. China balances the trade by consuming as much as it sells. Get out of the US trading system
sure; have Americans pay 20% more for products so that 5000 menial manual labor
jobs are saved.
李显龙说过新加坡人要知道自己是新加坡人，要考虑新加坡的政治。
站在美国人的立场自然就是这想法了。
2025 time for change!
What is Lee
still doing here . Leave power for the younger generations .
I have reached the statutory age and are no longer liable for National Service. Singapore is entering a dangerous and unpredictable world. Now my stomach is getting bigger. I can't run as fast as before 😂
I’m the same and I live in Australia today as an Australian Citizen, but if Singapore went to war, I will be there to do my duty even when I’m an 85 year old Ah Pui. You know why? I owe everything I have today to the government of Singapore. Had I stayed in the Malaysia of my birth, I’d still be in the estate and spending my nights skulling todi.
jeeez, this guy talks so clearly and concisely with great communication intention ... must be a fake politician right? (😏😏😏
As long as humanity craves dominance, prestige, and wealth, there will be no stop to conflict. It is either the USA or China now. Simple as that. Such idealistic talk rings hollow in the face of reality.
As much as like our supermajority reign of the white for coming ge25, what trump is doing , the white is as much alike, why blame trump!!..😂🤣😅
What if Trump imposed 100% tariffs to Singapore, what would you do?
as a matter of fact, there is almost zero trade imbalances here. Singapore exports and imports almost the same amount of goods.
Well, Singapore will simply get its products from China, India and ASEAN Nations. China is Singapore’s biggest trading partner, and not the USA. The biggest issue though, is that our Air Force and Navy uses aircrafts and vessels from America. Luckily, our Army uses tanks from Germany. Perhaps if the US-SG relations went sour, Sg can consider buying aircraft’s from Europe or China?
Well versed Mr Lee, Asia's Barack I might say. Singapore owe it to him for it's current state of wealth and prosperity.
"Asia's Barack" 😅
Golden Age X Gilded Age…
what he didnt address is the trade deficit which was 1 of the cause of the tariff
but how does the trade deficit come about? nobody points a gun in another nation and force them to buy its goods, for example consumers buy Chinese goods because they are cheaper! Demand drives supply.
@@xthene China charges way more tariffs on US goods, which is 1 part of the reason why. It's the same thing applies to Canada. In addition, US wanted to bring business into US, cutting 10 year-treasury which could lead to cutting down debt Loan interest payment. Did you know that US national debt is currently USD$36.22T as of now?
@@JudgeIronist1 I almost fell off my chair reading your comments. Pls google "why US national debt so high?" ... importing more goods than export is certainly not one of the reasons ... but yes, it is now the MAIN reason why Trump wants to generate more revenue.
And China charges way more tariffs on US goods????? Hellooooo, China exports LOTs more to US than importing from US.
When you can just print money and buy other countries goods, of course you have a deficit
@@JudgeIronist1 if you did a Google or asking chatgpt what's the reasons for US high national debt .........you won't see tariffs as a reason.
你应该劝说那个打人的，而不是挨打的。You should be persuading the one who hit others, not the one who got hit.
Singapore is not responding though.. jialat
ahhh ... still Tha MAN
China is one of the most protectionist countries in the world and has always levied tariffs against a range of western companies.
Trump is known for his focus on business and economic growth, while Biden has a more traditional political approach, often emphasizing unity and progressive values. Do you think one approach is more beneficial than the other for the country right now?
Very interesting, Trump is seeking reciprocal tariffs, if you tariff me 20% I will tariff you 20% .. how is that unfair? Btw Singapore has zero tariffs against the USA so we are not involved in this tariff war! We also have a FTA with the USA and USA is our biggest investor. I thought everyone commenting should know this😊
Nope... They don't. And LHL is being very neutral here.
The Great Lee Kuan Yew said that India is not a real country but 32 independent nation forced into one by Hindus using the military after the British left. More division is coming soon. Its good for the South Asian region as India has also stolen lands from their neighboring nation like Nepal who expect them to be returned.
Singapore is lucky to get away with 10% tariffs just like Australia. Here in Australia, I want to see Australia become the 51st state of the USA because Australia has run out of good people capable of governing the country.
he never addressed the root cause! Its the debt based money system lah - cannot cannot play anymore too much debt that is why ( of course he cannot say )