Brunei could’ve, would’ve, should’ve..
By - Vitamin-Sea-Addict
I read + heard somewhere before that in a way, Brunei took a similar approach under the UK administration of keeping and growing the oil fund (from the 30s and 40s) without anyone interference, not even the royals were able to access the fund. It all changed during the SOAS era (70s & 80s) where the royals were given the authority to access the fund by the UK. I couldn't find the reference to support these statements. So it might just be rumors. Anyone with knowledge on the matter feel free to support or debunk this.
> It all changed during the SOAS era (70s & 80s) where the royals were given the authority to access the fund by the UK
And then it was around this period that Istana Nurul Iman started construction and completed in 1984 at a cost of B$5 billion, becoming the world's largest residential palace, a title it still holds today. If you ever wonder from where the funding for the palace came from, yes its from the oil revenue fund the British later entrusted to the royals to manage. In theory, state and royal funds should be separate but in practice theyre one and the same.
Yes I learn this from a documentary about Brunei. The video is in YouTube. Very good video
To this day big boss still locks Brunei in a state of emergency so he has full access and control of the money. He's been playing this country management game with infinite money cheat for so long that he never learnt the proper way to play the game. Once the devs patch and remove the cheat, we're gonna plunge lower than Malaysia.
Better buy that gold plated lambo!
And everyone on bruddit will become your sugar baby waheyy
could've: just accepted god damn paypal payments
would've: made the whole international trade bullcrap
should've: throw out the current leaders of amdb
This: Complex macroeconomics that will make or break the very foundations of an entire country
Me: I just want Paypal Brunei to work properly, please, it's been so many years already
Norway is a very good model, if not the best model for an oil-producing nation's money management.
But don't forget **Luxembourg** too, it is one of the best model for economic diversification, from an economy dominated by iron & steel in 1960s to a highly diversified economy now.
Moreover, in 1984 GDP per capita:
* Brunei: $17,337
* Luxembourg: $12,554
* Luxembourg: $131,782
* Brunei: $33,097
Luxembourg really made it to the Lux, Brunei getting Lux'ed.
Im starting to have revolutionary ideas if this gets worse
Really? It'll be fine if it last only a few weeks but think of the sufferings if it never ends. Will you still be willing to live in this country then? Maybe after all that you are the one who will abandon this once peaceful country when it really turns into a real shithole.
Dont we all