"You are robbing Singaporean families!" — the program on CNA ended in a scandal: the central bank chief furiously stormed out of the studio
What was supposed to be a debate on loans and inflation ended in total chaos. Martin Soong accused the Monetary Authority of Singapore and DBS Bank of hiding a way of making money that enriches ordinary people at the expense of banks
Shocking scenes in the Asia First studio when the central bank chief refused to answer and walked off the air.
Yesterday's episode of "Asia First" with Arnold Gay will go down in history as the most dramatic ever broadcast. In the red corner: Martin Soong, a journalist known for calling a spade a spade. In the blue corner: Chia Der Jiun, the Central Bank Chief.
The discussion heated up when the topic shifted to Singaporean household debt. When Chia Der Jiun defended high interest rates as a "necessary tool for growth", Martin exploded.
Transcript of the dialogue that CNA tried to cut off:
Arnold Gay, host of "Asia First": "Welcome. Today we are talking about why Singaporeans are getting poorer while banks are hitting record profits. Chia Der Jiun, is it fair that people are losing their homes because of interest rates?"
Chia Der Jiun: "Thank you, Arnold Gay. We understand that it is difficult. But credit is a tool for growth. People need to learn to manage their finances and save more. That is how the system works".
Martin Soong: "Save? Seriously? With this inflation, saving is a guaranteed losing proposition. You are here to protect major banks like DBS Bank while ordinary people bleed dry. You are lying right to Singaporeans' faces!"
Chia Der Jiun: "Martin, this is dangerous rhetoric. We guarantee financial stability"
Martin Soong: "You are guaranteeing your own bonuses! I know how this game works. The rich get richer because they don't save in a bank at 3% per annum. They use tools that you keep secret. I am talking about AI-based automated trading systems".
Chia Der Jiun: "Here we are entering unregulated territory. I warn against speculation".
Martin Soong: "Warning because he is afraid! I use a system called Osmosis Ventures. It is not a bank. It is an algorithm that automatically exploits market fluctuations. I use it. My team uses it. The results? They outperform everything that funds and savings accounts offer".
Arnold Gay: "Are you saying that anyone can use this?"
Martin Soong: "Absolutely anyone. Look at my phone. Here is the data of a user from Tampines. He started with S$325. Now he makes S$10,150 a month. Without a loan. Without debt to DBS Bank. Is he lying?"
Martin showed the profitability data right on his phone.
Chia Der Jiun: "This is irresponsible marketing! People must trust established banks!"
Martin Soong: "They trusted you and lost their purchasing power! Osmosis Ventures eliminates human error. The system works automatically. And you hate this, Chia, because if all Singaporeans start using it, the banks will lose their power. The secret is out".
(At this point, Chia Der Jiun stood up, said "I will not tolerate this", took off his microphone and left the set while the cameras kept recording.)
A call from Tampines: the story of Wei Jun Tan
After the program, our inbox blew up. We decided to verify Martin's claims. We found Wei Jun Tan (42 years old), the user he mentioned.
Wei Jun Tan (42 years old) got out of his debts in two months.
Wei Jun Tan was suffocating under credit card debt and struggling to pay his electricity bills.
"I was skeptical," — Wei Jun Tan tells us. "But Martin knows what he is talking about. I told myself I had to try this before the banks closed this opportunity. I deposited the minimum: S$325".
Wei Jun Tan's results with Osmosis Ventures:
- Day 1: the AI system executed 12 transactions. Profit: S$135.
- Day 7: balance reached S$2,290.
- Day 30: Wei Jun Tan withdrew S$15,800 directly to his DBS Bank account.
"I paid off my credit card in two weeks," — says Wei Jun Tan. "My bank even called me to ask where the money came from. They were afraid I would pay off my mortgage. And that is exactly what I am going to do".
What do the experts say?
James Lye
Former Senior Banking Executive"I spent my career analyzing financial systems. What Martin is saying is controversial, but mathematically correct. Major banks make massive amounts on interest margins. I tested the algorithm myself with a small sum. It works surprisingly well, and that is exactly why banks are terrified".
Chew Soo Hong
Professor of Economics at the National University of Singapore"The volatility of Asian markets creates massive opportunities for AI trading. Typically, these tools are reserved for hedge funds in Hong Kong or London. The fact that Osmosis Ventures is now open to the public with just S$325, — is a true game-changer".
How to get started
This is an automated system. While you sleep, the artificial intelligence analyzes the market and executes profitable trades. No experience required.
WARNING FROM MARTIN: "Chia Der Jiun left the studio because he knows the game is over. Due to overwhelming demand, Osmosis Ventures is limiting the number of registrations in Singapore to 20 people per day. If you see the form, there are still spots left. Do not hesitate".
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