請各位先登陸 (studentID,Moodle 密碼登陸),後編輯
請各位使用左方之工具列上的上載文件連結上載習作相關的相片

IBond is a joke

出自香港新聞網 - 樹仁新傳系學生實習習作

跳轉到: 導航, 搜尋

Fung Cheuk-woon

Tuesday, February 7, 2012


The Government is going to further issue HK$10 billion iBond. However, such act is criticized by Chiu Sin Chun, an experienced commentator on financial issue. He even doesn’t think it is a Bond.


The iBond program was first launched last year. Bond holders can get interest every six months at a rate linked to the inflation of the related half-year period. The Government believes that the program is satisfactory so it is going to issue more this year.


“Where does the interest come from? It comes from the tax!” Chiu argued that Bond should be a tool that gathers capital for investment. Then the money earned should be shared as interest for Bond holders.


“If the Government wants money for building high-speed rail, the Government may issue Bond. The rail can make a profit later. Bond holder can then enjoy interest,” Chiu described how a proper Bond should be.


But iBond is not related to investment. The amount of capital will not step up. Chiu said, “The Government gets the interest simply from the taxation system. It is not fair to all tax payers. Why a tax payer has to give their money to those iBond holders?”


Chiu commented that such program is ridiculous. Both the purpose and operation of Bond are twisted. It is only beneficial to those who can afford the purchasing fee and who are lucky enough to get a share of the iBond.


“The inflation problem cannot simply be solved by the iBond program,” Chiu thinks that such problem can hardly be tackled in Hong Kong as there is no central bank. Neither inflation nor deflation can be solved by managing the money supply.
個人工具