Devalue Thailand baht

[villager]

Hey Scy , no problem , but the problem with a strong Baht is multi faceted, uncompetitive exports ,tourism etc, on the other side of the coin of course is oil and the world recession, i,m the first to admit I don,t know the answer , and i,m not sure if my post was biased or not cos i,m OK, I was just thinking about these 4 guy,s here who are really struggling especially with their visa requirements to carry on living here to support their Thai wife,s.

[Sean Moran]

by villager on Sat May 02, 2009 8:59 am

Hey Scy , no problem , but the problem with a strong Baht is multi faceted, uncompetitive exports ,tourism etc, on the other side of the coin of course is oil and the world recession, i,m the first to admit I don,t know the answer , and i,m not sure if my post was biased or not cos i,m OK, I was just thinking about these 4 guy,s here who are really struggling especially with their visa requirements to carry on living here to support their Thai wife,s.

Good luck to them supporting these wives back in the home country then ...

Exports will still sell at the market price, what doesn't get turned into bio-fuel anyway.

[villager]

Hey Pappy,Degree in Economics eh, did,nt do you much good when you lived in Thailand did it when you wife,s family was "knocking you sideways" before you had the backbone to up stakes and leave,LOLOLOLOL .

[Veto]

Baht already is devalued. Remember when it was 20-25 to the $? Collapsed in 1997 ( making insiders a small fortune...i.e. Thaksin and others)
Bloomberg expects it to fall to 40/USD by summer. If any currency is weak it's the GBP.

[Ian]

Baht already is devalued. Remember when it was 20-25 to the $? Collapsed in 1997 ( making insiders a small fortune...i.e. Thaksin and others)
Bloomberg expects it to fall to 40/USD by summer. If any currency is weak it's the GBP.

The Baht for several months has been maintaining a parity of 35 to the dollar. Each day one can see micro adjustments being made to achieve this. The fluctuation of the Pound are more like collateral damage then diect changes of the Pound/Baht exchange rate. If you examine the Pound /Baht exchange rate it went to a low of around 48 baht and is now creeping upwards, not steadily (for this I blame Brown and Darling), but it is now at 51.5 Baht. The dollar now seems to be edging down, this gives the Baht room to edge down also, conversely it means the Pound will rise more.
The British economy is currently weak, but this is a cyclical event which Britain is used to. However with the news that the money lost in Iceland is going to be refunded by the Icelandic government, the Pound is looking healthier.

You may find this link useful for detecting trends.
http://www.tititudorancea.com/z/gbp_to_ ... i_baht.htm

[Sean Moran]

Arrested banker spends millions in lottery
By: BangkokPost.com
Published: 2/05/2009 at 11:52 AM
Former banker who was arrested and charged with embezzling about 400 million baht from a state-run bank used part of the money in buying lotteries worth more than 30 million baht at one time, police said Saturday.
Somkiat Panyaworakhundet, 33, was arrested Friday with 15 million baht in cash when he was driving his brand-new BMW 5 Series towards the direction of the Thai-Cambodia border.
Police said they have talked to lottery sellers around Koakwua intersection and found that Mr Somkiat has spent tens of millions of baht in buying lotteries. He is also a gambler, police said.
Mr Somkiat, who had previously been recognised as an outstanding staff member of the Government Housing Bank was not given bail as police were afraid he would escape.
He allegedly abused his authority as a teller by transferring some 700,000-900,000 baht from GHB's interest accounts into his personal bank accounts every day for a year-and-a-half.

Now here is a prime example of Thai *****
Not only was this guy able to transfer 400 million to himself (avoiding detection for 18 months) and ride around in a brand-new BMW 5, he then bought lottery tickets with the money
Why try to win the lottery if you've already won it by being appointed "an outstanding member of the Government Housing Bank" with absolute freedom to help yourself

... and this is on-topic because ...?

[Sean Moran]

by Papadragon on Sat May 02, 2009 6:58 pm [60.50.39.xx]

The Degree is old (1962)

So are we.

[GORDON]

Scy - How is it that tourists and expats are robbing Thailand by bringing their money here and spending it in your country. You are not making sense, if there is any robbery here it is the B.O.T. keeping the exchange rate artificialy high . This is not doing your countrmen any good either. Any small gain from oil is wiped out in so many other ways. Unemployment figures are going to keep rising, how many businesses are sufferring because you are stopping people from investing here or coming here to spend . The money coming in from abroad represents a large part of your income, the rest comes from exports. How can Thailand compete when the Baht is too high, as I said previously white rice your largest export is 17% higher than Vietnam. Even Cambodia is cheaper and Thai buyers are getting what they can from there rather than buying from your gov. The gov. is also buying up all the rubber you can,t sell. What are they planning to do with all this stockpiled overvalued rice and rubber- oh I see- put all the rice in rubber bags and dump it. I understand that you are a yellow shirt and support this unelected gov. You belong to the Bkk elite who have no interest in the rural people of your own country, you continualy acuse other countries of taking advantage of your cheap labour. It is not us, it is yourselves that have been doing that for many years. Slavery was supposedly abolished here but we all know it still goes on, by who I ask. A lot of farangs are keeping Thai families in food and education and sometimes work too, but we are still wrong , people like yourself want our blood too. You make me angry when you talk such rubbish. DO NOT SEND A PRIVATE REPLY - YOU STILL HAVE NOT APPOLAGISED TO THE PERSON YOU WERE RUDE TO BEFORE. YOU ARE A TEACHER OR SO YOU SAY. LEARN SOME MANNERS .AND HUMILITY. YOU HAVE NEITHER. YOU BKK SPECIAL PEOPLE ARE THE PROBLEM.

[Sean Moran]

Scy - How is it that tourists and expats are robbing Thailand by bringing their money here and spending it in your country. You are not making sense, if there is any robbery here it is the B.O.T. keeping the exchange rate artificialy high . This is not doing your countrmen any good either. Any small gain from oil is wiped out in so many other ways. Unemployment figures are going to keep rising, how many businesses are sufferring because you are stopping people from investing here or coming here to spend . The money coming in from abroad represents a large part of your income, the rest comes from exports. How can Thailand compete when the Baht is too high, as I said previously white rice your largest export is 17% higher than Vietnam. Even Cambodia is cheaper and Thai buyers are getting what they can from there rather tbut qualified now by 47 years of practical "real life" experience han buying from your gov. The gov. is also buying up all the rubber you can,t sell. What are they planning to do with all this stockpiled overvalued rice and rubber- oh I see- put all the rice in rubber bags and dump it. I understand that you are a yellow shirt and support this unelected gov. You belong to the Bkk elite who have no interest in the rural people of your own country, you continualy acuse other countries of taking advantage of your cheap labour. It is not us, it is yourselves that have been doing that for many years. Slavery was supposedly abolished here but we all know it still goes on, by who I ask. A lot of farangs are keeping Thai families in food and education and sometimes work too, but we are still wrong people like yourself want our blood too. You make me angry when you talk such rubbish. DO NOT SEND A PRIVATE REPLY - YOU STILL HAVE NOT APPOLAGISED TO THE PERSON YOU WERE RUDE TO BEFORE. YOU ARE A TEACHER OR SO YOU SAY. LEARN SOME MANNERS .AND HUMILITY. YOU HAVE NEITHER. YOU BKK SPECIAL PEOPLE ARE THE PROBLEM.

Don't be so daft. It is YOU who want's a free handout from Thailand by making the baht ARTIFICIALLY LOW just for you and your little weekend enjoyment. The party is over. Get over it and go home.

[GORDON]

Ah sean - what a lovely name , now what part of rural Ireland did your people come from. TH*CK . What do you know about me to make your stupid presumtions. Keep digging paddy your not there yet. I note you have arrived in Australia now so you had better stop or you,or you will end up back in Ireland. On second thoughts no, keep digging, it will keep you busy.