DogNo1 Posted June 17, 2019 Share Posted June 17, 2019 According to the NYT, there are plans by both Elizabeth Warren and Donald Trump’s government to devalue the US dollar by about 30% over the next three years. By my calculations, one US dollar would then be worth 21 - 22 baht. If the Thai exchange rate does not accommodate the new value of the dollar, life for we American expats could become 30% more expensive. What are the opinions of TV posters regarding this insidious danger? The relevant article is in Today’s New York Times. I’ll be happy to provide a link but it can just be Googled for in the Opinion Section under the title “A Radical Plan to Fix the Dollar.” Link to comment Share on other sites More sharing options...
marcusarelus Posted June 17, 2019 Share Posted June 17, 2019 Kind of ha ha time for those who worried about putting money in a Thai bank eh? Link to comment Share on other sites More sharing options...
Tanoshi Posted June 17, 2019 Share Posted June 17, 2019 Spare are a thought for the British who have already seen an exchange rate drop of 26% since the Brexit referendum 3 years ago and we're still in the EU. Link to comment Share on other sites More sharing options...
scubascuba3 Posted June 17, 2019 Share Posted June 17, 2019 Thai baht isn't pegged to the US$ so in theory it shouldn't effect other exchange rates against the baht but... Link to comment Share on other sites More sharing options...
Airalee Posted June 17, 2019 Share Posted June 17, 2019 Being that this is somewhat finance related...all I can say is...from my experience, you will make more money betting against what the NYTimes says than placing any value on what they say. from 2005-2007, they were pimping real estate with constant “it’s a great time to buy”. I sold. From 2007-2008 it was stocks. Always question the source and with the NYTimes especially, ask yourself... “What is it that they aren’t telling me?” Link to comment Share on other sites More sharing options...
Pib Posted June 17, 2019 Share Posted June 17, 2019 My opinion is there has always been news articles forecasting the dollar going south (and going north). Seems all the crystal balls and Ouija boards used by reporters and currency traders give different predictions. Link to comment Share on other sites More sharing options...
NCC1701A Posted June 17, 2019 Share Posted June 17, 2019 https://www.nytimes.com/2019/06/16/opinion/elizabeth-warren-dollar.html Link to comment Share on other sites More sharing options...
manchega Posted June 17, 2019 Share Posted June 17, 2019 unfortunate optimism of the trump being around in 3 years time, was hoping the old <deleted> would have a heart attack soon. but long term trend dollar appreciates Link to comment Share on other sites More sharing options...
bendejo Posted June 17, 2019 Share Posted June 17, 2019 1 minute ago, manchega said: unfortunate optimism of the trump being around in 3 years time, was hoping the old <deleted> would have a heart attack soon. ....sigh! Link to comment Share on other sites More sharing options...
Thaidream Posted June 17, 2019 Share Posted June 17, 2019 This is old news- it has been predicted by various economists that the US Dollar-Thai Baht exchange level will settle around 28-29 to the Dollar. Other currencies will show a 20% decline depending on actions that are taken. The US and China are in a war of economies. There are plenty of steps the US can still take to include raising tariffs on all Chinese products; cutting China out from buying US Treasuries and funding Us Debt; and establishing a US balanced budget. In regard to Thailand- I don't see much change this year as the Thai export market is sliding; the Prayut Government is unstable; and if tourism declines there will be less foreign currency entering. Thailand will intervene in the currency markets to keep the rates stable. Trump will not be re-elected but if he was - he will be beholden to Wall Street and their minions will control US monetary Policy. Elizabeth Warren will not win the nomination. Biden will and he won't change much as far as economic policy except get rid of Trump's tax give away. As far as Thai banks- I wouldn't put any money in them if I didn't have to. They have a history of manipulation; lack of security and over control by the Government in power. Link to comment Share on other sites More sharing options...
ukrules Posted June 17, 2019 Share Posted June 17, 2019 If you expect this to happen then you would surely send all your money to Thailand..... Link to comment Share on other sites More sharing options...
WalkingOrders Posted June 17, 2019 Share Posted June 17, 2019 Wanting a weaker dollar is one thing but doing it is another matter, and outside of the Presidents power. There is blowback, and the U.S Fed is independent of any President. A lot of the echo chamber on this is by Chinese sources which seem to be overstating Executive power in this regard. Hard to say where its going long term. Short term, a rate cut is in the air, creating some downward pressure on the dollar. Link to comment Share on other sites More sharing options...
marcusarelus Posted June 17, 2019 Share Posted June 17, 2019 1 hour ago, ukrules said: If you expect this to happen then you would surely send all your money to Thailand..... I did in 2005. Although there is no way Trump can effect the value of the dollar up or down. Link to comment Share on other sites More sharing options...
Berkshire Posted June 18, 2019 Share Posted June 18, 2019 14 hours ago, WalkingOrders said: Wanting a weaker dollar is one thing but doing it is another matter, and outside of the Presidents power. There is blowback, and the U.S Fed is independent of any President. A lot of the echo chamber on this is by Chinese sources which seem to be overstating Executive power in this regard. Hard to say where its going long term. Short term, a rate cut is in the air, creating some downward pressure on the dollar. Agree. If the US were to artificially devalue its currency somehow, other countries can simply follow suit. Then they'd be back to square one. Better to let the free market decide. Link to comment Share on other sites More sharing options...
ukrules Posted June 18, 2019 Share Posted June 18, 2019 8 hours ago, Berkshire said: Better to let the free market decide. I didn't realise the Baht is on the free market. Link to comment Share on other sites More sharing options...
Vivald Posted June 19, 2019 Share Posted June 19, 2019 Which is the best site to check current excahnge rate of currencies? Link to comment Share on other sites More sharing options...
soalbundy Posted June 19, 2019 Share Posted June 19, 2019 On 6/17/2019 at 4:25 PM, scubascuba3 said: Thai baht isn't pegged to the US$ so in theory it shouldn't effect other exchange rates against the baht but... It will. Draghi at the ECB only hinted at a rate reduction and more quantitative easing and down went the Euro. Link to comment Share on other sites More sharing options...
scubascuba3 Posted June 19, 2019 Share Posted June 19, 2019 It will. Draghi at the ECB only hinted at a rate reduction and more quantitative easing and down went the Euro.That would because its the ECB and that's the idea Link to comment Share on other sites More sharing options...
ukrules Posted June 19, 2019 Share Posted June 19, 2019 2 hours ago, Vivald said: Which is the best site to check current excahnge rate of currencies? xe.com Link to comment Share on other sites More sharing options...
Naam Posted June 20, 2019 Share Posted June 20, 2019 On 6/17/2019 at 5:33 PM, NCC1701A said: https://www.nytimes.com/2019/06/16/opinion/elizabeth-warren-dollar.html Quote Who would want to tinker with our currency? The reality is that China and about 20 other nations are already doing so. By using public capital to purchase huge quantities of United States government securities over the past two decades, they have driven up the value of the dollar to make their own exports supercompetitive. what a load of rubbish! Link to comment Share on other sites More sharing options...
Naam Posted June 20, 2019 Share Posted June 20, 2019 16 hours ago, ukrules said: xe.com xe.com publishes interbank mid rates which are not suitable for individual purposes. more transparent are the bid/ask rates of Oanda http://www.oanda.com/currency/live-exchange-rates/ and anybody living in Thailand should use https://daytodaydata.net/ Link to comment Share on other sites More sharing options...
SiamAndy Posted June 20, 2019 Share Posted June 20, 2019 Just checked the USD/Baht rate on XE and it is now below 31......at 30.90 ???? Link to comment Share on other sites More sharing options...
ukrules Posted June 20, 2019 Share Posted June 20, 2019 7 hours ago, Naam said: xe.com publishes interbank mid rates which are not suitable for individual purposes. I find them useful when wiring money from Europe. They're a good indicator with charts. Link to comment Share on other sites More sharing options...
topt Posted June 20, 2019 Share Posted June 20, 2019 4 hours ago, SiamAndy said: Just checked the USD/Baht rate on XE and it is now below 31......at 30.90 ???? USD is getting hammered due to the Fed's announcement about rates yesterday and a poor reading from the Philly Fed Business Outlook survey. Link to comment Share on other sites More sharing options...
Naam Posted June 21, 2019 Share Posted June 21, 2019 19 hours ago, ukrules said: I find them useful when wiring money from Europe. They're a good indicator with charts. xe indicates, your Thai bank sets the rate. Link to comment Share on other sites More sharing options...
Vivald Posted August 21, 2019 Share Posted August 21, 2019 I am using liteforex site for monitoring exchange rate of currencies Link to comment Share on other sites More sharing options...
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