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You know that BBC reporter who always breaks down in tears, in front of orphanages, and immigrant worker housing?  Yesterday, she broke down in tears again...in front of the Super Rich money exchange on Sukhumvit.

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18 minutes ago, Brer said:

No denying the BoT is controlled by the regime when the appointment comes from the Finance minister who is a General P appointment. The new Finance minister though recently stated that there would be no interference into the banks monetary policy which in Thailand means do as I say, read that any way you want.

The capital inflows are probably getting to a stage where they have to take some action, what they come up with might give us some relieve.

Thanks for your input, Brer.  We seem to be in agreement.

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Yeah, many countries are not doing so well with their economies, so the value of their money has gone down, however, it seems strange that while the rest of the world is sliding into recession, Thailand a, (third world country) seems to be powering ahead with a strong Barht while business, farming and tourism is at a all time low. Seems to me Thailand's over inflated Barht will take a dive sooner than later, especially when foreign investors are looking for their returns. It would be interesting to see who is propping up Thailand with the cash to stay afloat. Maybe, when we find out it will be another Hong Kong all over again.

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17 hours ago, ThePioneer said:

I assume you don't get your pension sent from overseas, because you sure wouldn't have so much joy

Why do you assume every poster is a pensioner? 

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Arriving in Suvannabhumi recently the long queues indicated buoyant tourism numbers yet Pattaya was devoid of farangs. Businesses must be suffering down the economic chain. But more broadly things will only change when export manufacturing lays off large numbers of people and tax revenues sufferand I never hear that. Are large corporations pulling out ?

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4 minutes ago, smudger1951 said:

Arriving in Suvannabhumi recently the long queues indicated buoyant tourism numbers yet Pattaya was devoid of farangs.

Don’t think I have ever been in a short queue, long queues are because they don’t have enough IO’s working.

Maybe that’s the plan cunningly cut a few IO’s and make it look busy. 

Tourism is booming, nothing wrong with the baht boss as I transfer a few more million into my Swiss bank account.

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9 hours ago, NightSky said:

I know several small Thai business owners all whom report business is <deleted>, nothing to do with beer bars either mainly businesses like aircon sales and cleaning, restaurant owners, printers etc. Coincidence?

No idea as the word your post turns on has been deleted.

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8 hours ago, Suradit69 said:

You really think currencies rise and fall because governments are buying and selling gold?  So the sinking GBP could be rescued if Bojo asked the Queen to flog some of her stash?

 

Brace yourself but have you heard that Harry Truman is no longer president of the US and the 24/7 worldwide currency markets respond to a host of influences geopolitical, economic, real or rumored. A small country would struggle to prop up or push down its currency rate even briefly and even comparatively wealthy economies like China, the US or the EU rarely get their way trying to move their currencies ... and they certainly don't spend much time buying or selling gold in an attempt to move currency markets.

 

And that aside, for what reason would Thailand want an overly strong baht. It makes exports expensive, makes investment less attractive to foreign businesses, discourages tourism ...

As I said, I've been told............and its a popular viewpoint.  All I know is that the baht seems stronger than it should and without good reason.  When a country has a coup, the currency usually becomes toilet paper for a while whilst things are sorted out - the baht got stronger.  When the UK referendum results started to come in, the pound started to lose value immediately and that was just a referendum, not a coup - Thailand has problems yet its currency gets stronger. To me, that suggests manipulation. However, after all this time, I struggle to see how, if they are propping the baht up, they can still be doing so.

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7 hours ago, DUNROAMIN said:

Thailand a, (third world country)

The term 1st 2nd and 3rd world countries have fallen in dis-use and replaced by Least Developed Countries (LDC), Developing Countries and The Global South.

According to data from the UN, Thailand falls into the category of 'Developing Countries'.

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8 hours ago, andy72 said:

the law on gravity iswhat goes up must come down
thailand in no way can justify such a strong currency

remember soros and sterling

the baht will take one hell of a tumble
and all you guys with their 800k in the bank
good luck with that

but all you experts on this forum 😓😓😓😓😓😓😓😓😓😓😓😓😓😓

Why should the guys with 800K in the bank care?  It will be there till they expire, and still be 800K regardless of what happens to the 3rd world currencies like the pound or euro.  If you are so sure it will tumble, place your bet and make 1000% return.  Oh wait, you are not that sure.  Just another bar-stool economist....🙄

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12 hours ago, Percy P said:

While many tourists are still coming to Thailand with a minimum of 20,000 Baht or equivalent money and the Dollar losing it value the exchange ratewill stay high. Well done Thailand.

You do realise that the high baht is hurting Thailand ....actually given some of you previous posts you probably dont.

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24 minutes ago, RoadWarrior371 said:

Why should the guys with 800K in the bank care?  It will be there till they expire, and still be 800K regardless of what happens to the 3rd world currencies like the pound or euro.  If you are so sure it will tumble, place your bet and make 1000% return.  Oh wait, you are not that sure.  Just another bar-stool economist....🙄

What’s to stop Immigration from revaluing the 800K to a higher number if the THB takes a long term beating?  If the baht does fall, almost everything we buy here that is imported will simply be price-adjusted, especially durable goods.  A $65,000 four cylinder Camry that costs $35,000 in the US will run even higher. Ditto for air conditioners, refrigerators, consumer electronics, imported furniture etc. Any devaluation of the baht will be very meaningful to expats living on fixed incomes who need to acquire such goods.  Global monetary ebbs and flows tend to offset one another and adjustments are made by importers accordingly. One thing is certain...Thai retailing businesses will retain their profit margins and their leeching government that collects duties and taxes will not lose money. 

Edited by Fore Man
Misspelling

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16 minutes ago, Fore Man said:

What’s to stop Immigration from revaluing the 800K to a higher number if the THB takes a long term beating?  If the baht does fall, almost everything we buy here that is imported will simply be price-adjusted, especially durable goods.  A $65,000 four cylinder Camry that costs $35,000 in the US will run even higher. Ditto for air conditioners, refrigerators, consumer electronics, imported furniture etc. Any devaluation of the baht will be very meaningful to expats living on fixed incomes who need to acquire such goods.  Global monetary ebbs and flows tend to offset one another and adjustments are made by importers accordingly. One thing is certain...Thai retailing businesses will retain their profit margins and their leeching government that collects duties and taxes will not lose money. 

Wwwwwwwwhat if..... what if Aliens land and they take your bargirl?  Will she love them longtime?  Longer?  Live in the real world, dude, pull your money out if that real world changes.

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52 minutes ago, joecoolfrog said:

You do realise that the high baht is hurting Thailand ....actually given some of you previous posts you probably dont.

The strong Bath is very convenient for the Thai politicians...who getting ther income in Bath....so if the bath is strong they can buy more USD,EUR or CHF or whatever they want.....hehehehehe.

They dont give a vok about Thailand or Tourism or the lower class Thai people. Its all a monkey show.

 

Hans.

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On 9/13/2019 at 12:35 PM, KhaoYai said:

That's the story that's put about - talk to business owners. Both Thai and foreign report things are not good and getting worse.

 

I'm no expert but I was told they've been propping the baht up since the coup. As far as I know, the only way they can do that is with gold and foreign reserves - surely what they have left aint massive. Reports are one thing, the truth may differ.

Foreign reserves including access to retirees 'deposits'. B400k for 12 months and B800k for five months.

 

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