This article from Spiegel Online spells it out with no holds barred. The gist is that banks supply governments with the means to continue their spending operations, which often involve raising deficits and debt to unsustainable levels. In turn, governments bail these banks when such operations fail inevitably.
With this understanding of how things are, and how little influence individuals have to change this arrangement, what with such widespread ignorance of what is going on, it behooves one to find ways to ensure one's money is protected in the ensuing devaluation and debasement that happens.
The easy, and fortunately right, answer is to buy gold and silver. Singapore is one of the best places to buy. If you're a tourist, consider buying a few coins and bars before heading back home. Precious metals buying is actually even better for visitors than those who live in Singapore. Although many popular products are GST-exempt, buying more obscure coins, and even not-so obscure coins (like the Gold Eagle) will cost you 7% more thanks to continued implementation of GST. But foreigners can claim their GST refunds at the airport before their departure.
We don't know how long Singapore is going to be this bullion-friendly, so take advantage in the near future.
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