Postbag: In the lap of the gods

Postbag: In the lap of the gods

Atiya Achakulwisut warned us against ''Getting ahead of ourselves with ICJ glory'' (BP, April 23).

I don't think that is the case. The Thai team has done its homework for the ''exam''. The best was rendered and the rest is up to the court. Like one lawyer in the Thai team, Prof James Crawford said, ''It's like a ship in the sea, like being in the hands of gods.''

No one has ever held out high hopes of winning. The modesty of the Thais is most admirable.

Khun Atiya's contention is the court's 1962 judgement favouring Cambodia was based on the dubious map. But the court also opined that it did not have to determine its correctness because of the Thais having already acquiesced to the temple being situated in Cambodia prior to the dispute.

So if the court believes it has jurisdiction in considering Cambodia's second request now, then the bona fides of that map have to be determined. At that point, Alina Miron's evidence will become all the more relevant and important.

In sum, because of the openness of this case, there is less euphoria but more appreciation of the Thai team's devotion.

Whether their best is good enough is no longer in our minds because of the sincerity of the team and appearance of fair-mindedness by the court.

SONGDEJ PRADITSMANONT


It's good to hold gold

Re ''Why gold is one man's currency and another man's bet'' (BP, April 20).

Floyd Norris seems to think that gold is something that either speculators or loony goldbugs dabble in, but that is simply not the case. Many investors including individuals and central banks buy gold.

They hold actual bullion, not paper gold and they do this not because gold is such a great investment _ although it has been over the last decade _ but because it is the ultimate insurance policy against monetary collapse.

Metals are one of the few physical commodities that can actually be held with ease. I'm not an advocate for returning to a 100% gold standard, we know the problem inherent in this _ that the amount of money in circulation is dependent on the amount of gold and not the prevailing economic requirements. But there are also pitfalls with central bankers being able to pump vast quantities of money into the financial system.

Nothing exemplifies this more than Japan's recent decision to pump massive liquidity into the system to devalue the yen and deliberately create inflation.

This is a gamble that has yet to play out. I think it is much too early for the writer to say that central bankers are doing a great job and inflation will not rise. He should be reminded of ex-Fed chairman Alan Greenspan's poor handling of the dot-com bubble, not to mention his advocacy for derivatives which led us into this mess in the first place. Central bankers doing a great job? Let's wait and see. In the meantime I'll stick with my insurance policy.

JOHN TOWLER
Chiang Mai


Stop your whining!

The PostBag section somehow gives a clear vision of the types of expatriates living in Thailand. Very few have many positive things to say, many constantly complain, mostly the same lot about the same things.

Singing the praise of goods and services from their own countries seems of paramount importance.

My question is: Why do they continue living in Thailand if so many of them find so many faults with the country? It would be easier for these expats to return to their countries of origin instead of demanding Thailand changes for their convenience.

DAVID JAMES WONG


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