mitsubishi
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Posts posted by mitsubishi
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an internal paper drawn up by the German government has revealed Berlin's plans for forcing private-sector investors to take their share of losses in future crises.'
no such thing like an "internal' paper. both, chancellor Merkel and her finance minister Schäuble made it publicly clear a week or so ago that private investors have to expect "haircuts" in case of sovereign defaults. haircuts are anyway nothing new for private investors. it's what they experience since decades with corporates and sovereign bonds.
and that investors are aware of potential haircuts is clearly demonstrated by the yield of the "PIIGS" bonds. Spiegel journàsslists are trying to fabricate a sensation based of facts known to anybody who is interested in the matter.
"All the kings horses and all of Naams men, can't put the Euro together again"
Down she goes Naam and with it your dreams of an EU powerhouse
Nothing can be done for the Euro except to prolong the financial pain it's going through...
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From http://www.financean...sing_Europe.htm
'The scale of the Irish financial threat is considerably greater than commonly realised and presented, because the relative size of the Irish economy is being confused with the size of its external banking obligations which are significantly larger than those of Spain or Italy. Cross-border loans to Ireland by BIS-reporting banks amount to the equivalent of $715bn, and the comparable figures for Spain are $534bn and for Italy $467bn. Of course these are not the only cross-border financial flows, because they do not include outward banking deposits and securitised debt issued by the Irish government and large companies. But they are the figures that matter.
So we must focus on the banks, because they are at the heart of the real crisis. The cross-border loans by BIS-reporting banks for all the PIIGS amounts to $1,982bn at mid-year, which is 32% of the euro area total and disproportionate relative to the size of the economies involved. So if the largest of these debtors, which is Ireland, is allowed to fail there would probably be a full-blown banking crisis even before markets turn their attention to either Spain or Italy.'
continued ..
I agree.
Ireland has a mere 4.6 million people and what do they produce....?
Greece, in comparison, has 10.7 million people and is also a dwarf state with no important role other than some shipping and local agriculture.
The 2 countries might be large in NAME because of their history but not in economical power in the world; they mean less to nothing in the world.
The problem is that the world Banking system is totally fcuked up and allow minor players to grow so big and to grow so big in problems...I recall a discussion here on TV where some members sreamed from the roofs that it was FANTASTIC to deposit your money in Ireland...yeah right.
If the Banking and Governmental system allow minor players to <deleted> up thousands and thousands of clients (remember the Icesave debacle in a country -Iceland- with 300.000 people ? ) we will never learn.
Now, a tiny country of 4.6 million people has to be rescued with € 85 Billion....€ 85 Billion of other EU tax payers' money .....it's unbelievable but true.
LaoPo
+1
What he said
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I've got £20k in Travellers Cheques ready to rock, along with plenty of petty cash.
Get the TCs in the hold and walk throught he rest.
No Hassles
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This must be one up the jacksie for anyone who lives off the eBay road...
Are the restrictions due to be lifted anytime soon?
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"i don't understand why everyone is so angry at this guy - or is it jealousy?"
Yes, precisely! -- Pure and simple. The babbling drivel of envy and jealousy, run amok on ThaiVisa.
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+1
Thai Visa's vocal majority are typically puritans who often don't even life in the country but whine and whinge more than enough to make up for it.
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Out of all the banks the western Europe / US banking system is the most corrupt abomination of the lot.
The Asian banks are on the rise and that's who I'm banking with.
They use the same system as in the West although (some of the) the Asian Governments tell their Banks to hold more reserves than the Western Banks ever did.
LaoPo
This is true and it' why they aren't suffering the pain the west is going through, it's another reason why I bank with the east and not the western banks.
There's a more sensible psyche to the east. They've been through the 1997 crash once already, their first one if you like.
But I've a ken that you can't fool an asian twice, ergo the eastern banks are a safer bet
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I never heard of any problem taking gold out of thailand.Wearing it out works for me.
There is no restriction, but be ware, what ever country you enter, can charge you duty if the gold is NOT in the form of legal tender coins.
That's misleading in the extreme, you could argue all day on what is legal tender gold / silver coins and what isn't.
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Out of all the banks the western Europe / US banking system is the most corrupt abomination of the lot.
The Asian banks are on the rise and that's who I'm banking with.
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I never heard of any problem taking gold out of thailand.Wearing it out works for me.
Works for me too, rings and coins both!
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Some of you need to take a chill pill.
It's his money and if he's wanting to bypass the corporate banking then let him.
Also customs can only take your cash if the money is for criminal purposes.
So if, for example, your purpose is to buy a car, property, live off on a 1 year visa etc.
There's not much they can except delay your entry (which isn't the end of the world)
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I have to count myself blessed that alchohol hasn't reduced me to the wrecked and ruinous states some TV members are in right now!
Good grief some of you must have livers made of teflon-coated steel!
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Single is the way forward in Thailand.
But as it is the majority of people tend to be lonely old dudes who are in a rush to get shacked up with a Thai wife and wonder why they get taken to the cleaners...
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Short Everything, ride it to 0. The end of days is near.
Bold words but possibly wise ones given the worlds direction....
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Why don't you do a better job then hotshot and give us your expert valuation on the UKs property value
the ratio UK property value / UK debt is as relevant for the debt as is the number of tadpoles in my pond for the exchange rate Angolan Kwanza vs. Papua New Guinea Shrinkhead. should i be bored one day i will go down to Jomtien Beach and try to estimate the number of sand grains per linear km beachline at low tide.
So why do you seem to cast doubt on the documentary's estimate when you yourself haven't a bloody clue!
so why don't you understand simple english to realise that i did not talk about having clues but about relevance?
What are you wittering on about?
Relevance is irrelevant when I was pointing out you seem to know more than a documentary makers who've obviously done their homework, researched it.
Along comes a has-been keyboard warrior with a klingon avatar claiming to have near-omnescient insights into the financial world.
You, as a German expat can't understand english well enough to get the hang of irony
Well, I've had enough of time-wasting with has-beens.
Naam, you're blocked and I'm glad to see the back of you. I advise all others who want a break from his bs to do the same
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I wonder where you store all those silver...
In a gun cabinet works for me
I've got 5 kilo's worth and as it goes up in price to it's rightful level It's working for me
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Case in point, UK banks have £140 billion exposure to Ireland:
One can be over focused too ( CM) - all industrialised nations are both interwoven and 'in-ter-cart'. From day to day, week to week the media may wish to focus on this country versus that one, but they mostly are in the same position, there is no passing the parcel, it will always come back round.
Yes I appreciate those things and that really is the point, because the banks are all entwined, wishing for failure of the EU, parts of it or its currency is a very dangerous wish.
Yes but it's a necessary one!
The banks have been walking this path ever since they ditched the gold standard.
If you want to make an omlette...
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Why don't you do a better job then hotshot and give us your expert valuation on the UKs property value
the ratio UK property value / UK debt is as relevant for the debt as is the number of tadpoles in my pond for the exchange rate Angolan Kwanza vs. Papua New Guinea Shrinkhead. should i be bored one day i will go down to Jomtien Beach and try to estimate the number of sand grains per linear km beachline at low tide.
So why do you seem to cast doubt on the documentary's estimate when you yourself haven't a bloody clue!
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Here here.
The EU(SSR)s day is done.
They set out to try become the 'USA' economy of Euroland and look how it's turned out!
I'll drink to the day it falls.
Switzerland and Norway have been doing fine stood alone from the monstrosity of Brussels. Enough is enough.
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Thanks for sharing. What shocked me was the statement that if every house and flat in all of the UK was sold, the UK would still be 1 trillion pounds short of paying off the debt. Unreal....crazy world we live in...
the only unreal things are most of the youtube clips (and their authors) presented here. on youtube anybody can claim any rubbish without fear to be contradicted or proven wrong.
I wondered how long the resident left-wing german would take to show his umbrage. Is Kenysian your middle name Naam?
-the expression "right wing german" would fit much better and my middle name is Frank.
-as a [former] physicist i admire the mathematical capability of people who are able to value all UK immobile property.
-these experts must be able to calculate in no time the volume of all planets, moons and asteroids in the gamma quadrant.
-my sympathy goes to all those who believe in that kind of published rubbish.
-i envy people who can afford to waste time on yewtewb clips.
You could of fooled me Naam, you seem to espouse a left-wing mindset of champagn socialism on most threads I've seen you jump into.
Why don't you do a better job then hotshot and give us your expert valuation on the UKs property value
But don't listen to the independent folks on youtube who have done their homework, I'm sure your financial super-corporation needs you every other minute you have off the time you've put into Thai Visa
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Siamrose,
It's not a conspiracy, it's a reality now.
Look at how weak the £ and $ are.
We are going back to the weak periods of the £ vs the baht during the 70s, 80s and mid 90s.
Now I personally don't think that's much fun at all if I had all my assets in the £.
Thatchers dream of making the western world the office of the world and asia the workshop of the world is now a reality.
The only hitch is that when you have a country that exports very little and manufactures fck all compared to it's bloated service and public sector it suffers in economic hard times.
This crisis is going to move into either stagnation at best or a lasting depresion.
Either way, the £ isn't going to be the best currency to be using.
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You will see 25 baht per USD by the end of 2011 and I am seeing a five year target of 15 baht per USD.
You do not give the Thai's any credit for their ability to <deleted> up an economy...
My bet is we see 45 before 15...
You know how many times people have been saying the $ and the £ are going to magically rally and climb out of the abyss in the past 3 years?
Thousands of times. Britmaverick, bless his optimism is the leading voice. However times change and I can see that the UK isn't going down the route of increased spending power for it's expats.
Indeed, just listen to the voices from their financial guru's advising more quantitive easing (printing presses at full steam ahead) and more zero percent interest rates.
When this happens the £ gets weaker as it gets devalued.
It's not the interests of the guys pulling the strings.
They want the UK skint and the people tied to the country via a £ that won't buy them a loaf of bread for a wheelbarrow-full before long.
Once that's done it's in the Euro currency and hey presto there's no more £. The Euro in question is just as shaky but that's another story.
So get out now while you still can I say.
China is forcast to take over, it's their turn guys.
They are getting stronger, the west is getting weaker.
The wheel turns boys and whether you like it or not, it's gonna take us all spinning into the next paradigm. Will you be trapped in the cogs (UK and US) or on the freewheeling vanguard with the Asians (Thais and Chinese).
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What people should really take from the videos, if they actually bothered to watch them (take note Naam!) is that they show the example of Hong Kong which used the principles of Adam Smith and limited government to launch the tiny island into an eastern tiger.
Thailand is one of the many asian economy's that, while not as powerful as Hong Kong, is doing more than fine compared to sick and decrepid Euroland.
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Thanks for sharing. What shocked me was the statement that if every house and flat in all of the UK was sold, the UK would still be 1 trillion pounds short of paying off the debt. Unreal....crazy world we live in...
the only unreal things are most of the youtube clips (and their authors) presented here. on youtube anybody can claim any rubbish without fear to be contradicted or proven wrong.
I wondered how long the resident left-wing german would take to show his umbrage.
Is Kenysian your middle name Naam?
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Soon there will be no small retailer and wet market left. An invasion by Farang. So sad.
Don't look so glum, the Thai's are nationalist.
If it all goes t*ts up they'll seize the assets and declare it theres
Also Tesco Lotus is only part farang company I think.
The Baht
in Jobs, Economy, Banking, Business, Investments
Posted · Edited by mitsubishi
Amen to that, this is the reason I blocked the parasitic creature months ago. Haven't looked back.
He reminds me of this trekkie kid I knew many years back, he always HAD to have the last word.
The fact Naam uses worf as his avatar only adds to the similarity
Back OT, the baht is looking likely to hold its own.