DaamNaam 864 Posted January 12, 2015 Share Posted January 12, 2015 It's likely a laundering operation, and they couldn't care less if they have actual customers. In fact, the fewer, the better for them. Rubbish. Link to post Share on other sites
elektrified 3,526 Posted January 12, 2015 Share Posted January 12, 2015 It's likely a laundering operation, and they couldn't care less if they have actual customers. In fact, the fewer, the better for them. Rubbish. +1 Link to post Share on other sites
VillageIdiot 693 Posted January 12, 2015 Share Posted January 12, 2015 It's likely a laundering operation, and they couldn't care less if they have actual customers. In fact, the fewer, the better for them. Don't get carried away fantasizing about the Golden Triangle's colourful past... Khun Sa. Thai Tony, Chiang Rai's Little Duck, etc., etc. Those days are over. Link to post Share on other sites
bangmai 868 Posted January 12, 2015 Share Posted January 12, 2015 One just need to be in the wisdom lounge of Kasikorn Bank in most branches on weekends to realize most sitting there sipping the free lattes are not farangs but also Thais. To qualify for that, you need to have at least a few million baht investments annually or savings balance to keep that membership 1Mbht is only $30k I doubt any American in CM couldn't find 2-3M bht. Not that you would want to bring that into Thailand at the moment. Don't count on it. http://business.time.com/2011/06/01/nearly-half-of-americans-would-struggle-to-come-up-with-2k-in-30-days/ Link to post Share on other sites
elektrified 3,526 Posted January 12, 2015 Share Posted January 12, 2015 One just need to be in the wisdom lounge of Kasikorn Bank in most branches on weekends to realize most sitting there sipping the free lattes are not farangs but also Thais. To qualify for that, you need to have at least a few million baht investments annually or savings balance to keep that membership 1Mbht is only $30k I doubt any American in CM couldn't find 2-3M bht. Not that you would want to bring that into Thailand at the moment. Don't count on it. http://business.time.com/2011/06/01/nearly-half-of-americans-would-struggle-to-come-up-with-2k-in-30-days/ That article is dated June 2011; in the middle of the global financial crisis! Link to post Share on other sites
Loptr 3,458 Posted January 12, 2015 Share Posted January 12, 2015 One just need to be in the wisdom lounge of Kasikorn Bank in most branches on weekends to realize most sitting there sipping the free lattes are not farangs but also Thais. To qualify for that, you need to have at least a few million baht investments annually or savings balance to keep that membership 1Mbht is only $30kI doubt any American in CM couldn't find 2-3M bht. Not that you would want to bring that into Thailand at the moment. If you see how active the 30 baht dish thread was ...you may form a second opinion I am sure there are lots of monied Americans living in CM no doubt ...whether they want to park 60-90k USD of their money in Kasikorn to get the parking perk may be another thread altogether I am moving money out of the US banking system after the balls were ripped out of the Dodd-Frank bill and NIRP is on the horizon... The FDIC cannot cover all deposits, of this I am sure... One needs to ask just how much derivative exposure do Thai banks have... Surely less than the estimated $1 quadrillion by the western banking cabal... Link to post Share on other sites
mania 5,468 Posted January 12, 2015 Share Posted January 12, 2015 I am moving money out of the US banking system after the balls were ripped out of the Dodd-Frank bill and NIRP is on the horizon... The FDIC cannot cover all deposits, of this I am sure... One needs to ask just how much derivative exposure do Thai banks have... Surely less than the estimated $1 quadrillion by the western banking cabal... That aside...not too mention other than a token amount in US banks for charge card bill paying etc... There is really no benefit to being banked there savings or checking etc. interest wise. What is it? 0.10% compared to 2-3%+ here in many cases https://www.bankofamerica.com/deposits/bank-account-interest-rates.go Link to post Share on other sites
RikDao 199 Posted January 12, 2015 Share Posted January 12, 2015 It's likely a laundering operation, and they couldn't care less if they have actual customers. In fact, the fewer, the better for them. Rubbish. Ah, spoken with the confidence of a man who is likely (but desperately wants the world to think he isn't) clueless. Link to post Share on other sites
LawrenceChee 1,005 Posted January 12, 2015 Share Posted January 12, 2015 I am moving money out of the US banking system after the balls were ripped out of the Dodd-Frank bill and NIRP is on the horizon... The FDIC cannot cover all deposits, of this I am sure... One needs to ask just how much derivative exposure do Thai banks have... Surely less than the estimated $1 quadrillion by the western banking cabal...That aside...not too mention other than a token amount in US banks for charge card bill paying etc...There is really no benefit to being banked there savings or checking etc. interest wise. What is it? 0.10% compared to 2-3%+ here in many cases https://www.bankofamerica.com/deposits/bank-account-interest-rates.go In recent years I have moved out more cash to Cambodia where 6-7% is available on fixed deposits Link to post Share on other sites
RikDao 199 Posted January 12, 2015 Share Posted January 12, 2015 One just need to be in the wisdom lounge of Kasikorn Bank in most branches on weekends to realize most sitting there sipping the free lattes are not farangs but also Thais. To qualify for that, you need to have at least a few million baht investments annually or savings balance to keep that membership 1Mbht is only $30kI doubt any American in CM couldn't find 2-3M bht. Not that you would want to bring that into Thailand at the moment. If you see how active the 30 baht dish thread was ...you may form a second opinion I am sure there are lots of monied Americans living in CM no doubt ...whether they want to park 60-90k USD of their money in Kasikorn to get the parking perk may be another thread altogether I am moving money out of the US banking system after the balls were ripped out of the Dodd-Frank bill and NIRP is on the horizon... The FDIC cannot cover all deposits, of this I am sure... One needs to ask just how much derivative exposure do Thai banks have... Surely less than the estimated $1 quadrillion by the western banking cabal... Enough Dems voted against ripping the [email protected]#%s out of Dodd-Frank last week so that it didn't pass, but the Repubs will try again soon, and they'll keep trying until they achieve what the banksters have paid (or blackmailed) them to do. Link to post Share on other sites
bangmai 868 Posted January 12, 2015 Share Posted January 12, 2015 One just need to be in the wisdom lounge of Kasikorn Bank in most branches on weekends to realize most sitting there sipping the free lattes are not farangs but also Thais. To qualify for that, you need to have at least a few million baht investments annually or savings balance to keep that membership 1Mbht is only $30k I doubt any American in CM couldn't find 2-3M bht. Not that you would want to bring that into Thailand at the moment. Don't count on it. http://business.time.com/2011/06/01/nearly-half-of-americans-would-struggle-to-come-up-with-2k-in-30-days/ That article is dated June 2011; in the middle of the global financial crisis! I was aware of the date, but most Americans don't have a lot of savings, even if it is 40-50K. Why the need for 3% down mortgages? So even people living in 400K homes, don't have a lot of cash...it was all they could do to save up 15-20 for the 3% down. Kind of disgusting, but that's reality. And the need for "the letter from the Consulate"? If that's not quid pro quo than nothing is. Many retirees live check to check and don't make the 65K per month....make no mistake about it. A newer article from mid 2013...paints even a more dire picture....76% of Americans living check to check.....http://money.cnn.com/2013/06/24/pf/emergency-savings/ Link to post Share on other sites
bangmai 868 Posted January 12, 2015 Share Posted January 12, 2015 If you see how active the 30 baht dish thread was ...you may form a second opinionI am sure there are lots of monied Americans living in CM no doubt ...whether they want to park 60-90k USD of their money in Kasikorn to get the parking perk may be another thread altogether I am moving money out of the US banking system after the balls were ripped out of the Dodd-Frank bill and NIRP is on the horizon... The FDIC cannot cover all deposits, of this I am sure... One needs to ask just how much derivative exposure do Thai banks have... Surely less than the estimated $1 quadrillion by the western banking cabal... Enough Dems voted against ripping the [email protected]#%s out of Dodd-Frank last week so that it didn't pass, but the Repubs will try again soon, and they'll keep trying until they achieve what the banksters have paid (or blackmailed) them to do. Looks like St. Chris Dodd was a "preferred customer" of Countrywide Credit. What a coincidence. http://www.wsj.com/articles/SB122360116724221681 And the contributions to his campaign of 190K, by Fanny and Freddie? Real fine companies. Link to post Share on other sites
RikDao 199 Posted January 12, 2015 Share Posted January 12, 2015 @JLT: I think the owner is a Dutch investor who in principle had a good idea to build a retail mall in the 2nd biggest city in Thailand. So the timing and idea was good. However I guess he didn't have much of an idea about what kind of malls Asians like, he could have gone to Singapore/Hong Kong/Shanghai/Tokyo or even Bangkok to get an idea. Not sure how long until they will sell it or do something different with the place. But I'm sure they are loosing money on this project. Just for the record since I've seen many people incl. on TV state that CM is Thailand second largest city in Thailand, perhaps since the Rose of the North is considered the second capital by some. Here is some of the numbers I've found (assuming one is talking population which revelent to retail and not area etc.) #4 http://www.livingthai.org/census-populations-for-cities-in-thailand.html #6 by popuation according to wikipedia http://en.wikipedia.org/wiki/List_of_cities_in_Thailand #7 http://worldpopulationreview.com/countries/thailand-population/major-cities-in-thailand/ #8 http://www.citypopulation.de/Thailand-Cities.html There's lots of other stats, both newer and older, but I've never seen it listed as #2 thanks for the clarification. I didn't know that it was only somewhere no 6 in Thailand but good you highlight it. Yoo hoo! Hike on up to Doi Suthep and look down. You'll see the makings for a LOTTTT more than 134,000. The Chiang Mai metro area has about a million. Link to post Share on other sites
bangmai 868 Posted January 12, 2015 Share Posted January 12, 2015 The parent company is Polish...http://www.eccrealestate.com/en/0/23/27/about_us.html Link to post Share on other sites
AngelsLariat 275 Posted January 12, 2015 Share Posted January 12, 2015 In recent years I have moved out more cash to Cambodia where 6-7% is available on fixed deposits I've seen that mentioned about Cambodian banks before. Why are Cambodian banks able to pay such high rates? Link to post Share on other sites
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