Last updated on August 5th, 2015 at 12:40 pm
Since the publication of this article, The Online Citizen has received notice from the Attorney General's Chambers that the central assertion made in this article is patently false: The monies raised from the issuance of the Singapore Saving Bonds will used to finance the construction of an underground city for a population of 10 million.
There is no plan to build an underground city or underground residential developments to accommodate a "10 million population". Underground space has been developed to accommodate infrastructure such as MRT rail lines, ultilties and storage spaces. This is intended in fact to prioritise and maximise surface land to create a good environment which meet the needs of our people and their families for work, live and play.
By a Concerned Singaporean
Many Singaporeans of all ages are still not aware of the 10 million population and the underground city that the incumbent, People's Action Party has planned and that its construction will start after General Election 2015.
The first issue of Saving Bonds will be on 1 October 2015 and the bill to acquire land 30m underground will surely be passed after GE 2015 in September when PAP get majority win and minority Opposition can’t oppose PAP 10m population plan, as proven by how PAP pushed through the population white paper in 2013.
All Singaporeans and their future generations would then have to live with 10 million population and live/ work underground and fight for jobs, schools, healthcare, public transport, housing etc with millions of new immigrants in the near future.
What purpose is the saving bonds for?
"The Savings Bonds are a new type of Singapore Government Securities designed to offer individuals a "long-term, flexible savings option with safe returns". The money raised from issuing the Savings Bonds cannot be spent by the Government and will be invested, said MAS. Investors will be able to apply for each Savings Bonds issue with amounts ranging from S$500 to S$50,000, and they can hold up to S$100,000 of Savings Bonds at any point in time."
Guys, PAP did not tell us what type of investments is the government borrowing the money for and why they need to "borrow" long term from Singaporeans (public) through Savings Bonds.
My guess is to finance the underground city for 10 million population that cost four times more than land infrastructure. Currently, PAP do not know the exact amount needed to build the underground city so a Long Term Savings Bonds will help the financing of this underground city.
Other financing methods include the use of our reserves, raising CPF minimum sum and withdrawal age, raising taxes (GST, COE, ERP, etc.). Import more new immigrants (New Citizens/ PRs/ Foreigners) with spending power to collect more government revenues.
By 2030, our population will reach 6.9m, and it will continue to grow to 10 million beyond 2030 and the PAP need to start developing this underground infrastructure soonest.
It has been reported that authorities and experts are now at planning stage and the hefty costs and risks of an underground city.
"While the discussion about taking things below ground began at least as early as April 2009, the subject has come in and out of media reports in recent weeks. Singaporean politician Khaw Boon Wan also recently advocated for the ambitious idea, citing cities in Canada (Montreal prime among them) and Japan, which are also known to have extensive places to shop and conduct the business of living beneath the earth. Amsterdam is also planning a $14.4 billion underground city project." - The Diplomat
Any individual with $500 - $100,000 can buy Savings Bonds. Let's assume PAP use this Saving Bonds money to invest in shares of Companies constructing the underground city. In other words, PAP is making many Singaporeans (public) have a stake in the underground city through the investments in the shares of these Companies. In other word, many Singaporeans are "selling their livelihoods/ country and risking their lives to welcome 10 million population for a small amount of interest earned. (Saving Bonds interest).
Risk of living long-term underground
In the near future, current and future generation of Singaporeans can’t afford to live and work on land due to the high cost of residential/ commercial properties on land with the increasing population. Only the rich will enjoy the sun, moon, sky, sea, trees, nature and breathe fresh air.
Deep sea fishes and shallow sea fishes look different because the former are not exposed to sunlight and the fishes DNA changed.
Likewise, the same plants grow indoors and outdoors also look different. What more human beings who are far more complex than fishes and plants. Long-term working/ living underground may cause our human being DNA to alter and our future generations may be born retarded, missing limbs, freak looking, etc.
High risk of underground flood as water flows downward (note our current unsolved flooding problem), power supply failure (oxygen/ electricity), sea water seepage due to earthquake from neighbouring countries causing cracks on the walls and the whole underground city will collapse followed by the city on land. What if there is a gas explosion or fire underground?
Being a densely populated little red dot of a 10m population, the casualties arising from above mishaps will be very high and request for an International Rescue team.
Can Singapore back out from a committed plan for underground city?
What happen when Singaporeans decide not to have 10 million population and stop the underground city development (assume 2/3 Opposition in Parliament beyond GE 2015).
What will be the financial and economic implications to the Singaporeans (public investors) and the Companies involved and support the underground city development?
Singaporeans (public investors) will not want these Companies to go bust as it means losing their capital and earned interests and continue to support PAP and their 10 million population goal and the underground city.
Likewise whichever party take over PAP will not withdraw the underground city development as it will bring down the GDP tremendously and raise the unemployment rate. PAP being the Opposition by then will blame whichever new Government for this.
In other word, if Singaporeans don't vote in 2/3 Opposition in GE2015, PAP will go ahead with the underground city development and start bringing in 10 million population as planned. It will be all to late for any rectification after GE 2015, Singaporeans will have to live with the nightmare of a 10m population and reside underground.
Do Singaporeans want to prevent this MAN MADE catastrophe from happening in the near future?
Please vote rationally in this upcoming GE 2015.
Guys, I strongly urge you to spread this message as many Singaporeans of all ages are not aware of PAP above plan. It is their right to know before casting their votes this coming GE. Please help to spread via Facebook, Watsapp and word of mouth for elderly voters who are not IT-savvy.