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topfield

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Posts posted by topfield

  1. Hi All,

    Sorry if if this question has been asked before.

    As you know, there is significant difference between the offshore and onshore THB exchange rate (offshore about 32THB/1USD, versus onshore about 35THB/1USD).

    I have some THB in a Thai bank account that I want to transfer to the US. I want to do the transfer in THB and let the receiving bank exchange it into USD (to take advantage of the better offshore rate).

    But how?

    Seems like all the local Thai banks will only exchange first and then send it as USD via TT.

    Apart from taking THB cash with me and flying out, is there any other way? Bank Check? Demand Drafts?

    Thanks!

    No there isn't.

    But the other way round and a 10 percent profit is available for the taking !

    Should you be lucky enough as to hold baht in an account offshore you can switch the funds to dollars and send the dollars back to Bangkok where they can be changed into baht at 35 !!

  2. In Enland justification is a complete defence. IE if what you said was true.

    NOT so in Thailand or Japan . Honour is what counts in both these countries.

    And the criticism for posting about relevant English or US state law ?

    Unfair as we Westerners will judge matters by our own morals, standards and laws.

    Question : Any one know about the law of defamation in Ozzie ? Is it State or Federal law there ?

    //Edit: There are some 200 countries in the world. Please don't use this topic to discuss the laws all over the world. Perhaps this topic needs cleaning up.

  3. The report is INCORRECT

    Why dont the reporters check their dictionary !

    LiBEL involves publishing IN WRITING . Sontee spoke at a rally.

    The word that should have be used is as correctly mentioned below in the Bangkok Post what clearly has an English proof checker

    In English law you can only claim damages for Slander when you show the financial loss you have incurred.

    A disgraceful law if you cannot speak your mind ...a disgraceful decision

    Activist Sondhi gets 2 years for slander

    (Bangkok Post)

    Sorry in English law you do not have to show financial loss - you can also show a reasonable person to think less of a person.

    "English law allows actions for libel to be brought in the High Court for any published statements which are alleged to defame a named or identifiable individual or individuals in a manner which causes them loss in their trade or profession, or causes a reasonable person to think worse of him, her or them.

    American law is slightly different

    "Under United States law, libel generally requires five key elements. The plaintiff must prove that the information was published, the defendant was directly or indirectly identified, the remarks were defamatory towards the plaintiff's reputation, the published information is false, and that the defendant is at fault."

    Also "Phumtham told court that Sonthi made the defamation during his television talk show conducted in Wat Pa Ban Tat Temple in Udon Thani province in November 25, 2005."

    Therefore as it was on broadcast television could it not be argued it is not indeed libel?

    "Libel and slander both require publication. The fundamental distinction between libel and slander lies solely in the form in which the defamatory matter is published. If the offending material is published in some fleeting form, as by spoken words or sounds, sign language, gestures and the like, then this is slander. If it is published in more durable form, for example in written words, film, compact disc and the like, then it is considered libel."

    Any lawyers know better than my paltry internet search?

    Sorry...my memory from my law college days was indeed correct and you are WRONG

    "A slander claimant will need to prove that the defamatory allegations caused actual damage,"

    In practice this does mean FINANCIAL LOSS

  4. Welcome to the forum, a broad church featuring a rich kaleidoscope of characters most of whom could earn a reasonable living as axe grinders!

    Reading the inestimable Topfield's posts I'm put in mind of the barking mad Captain Queeg, master of the good ship Caine as played by Humphrey Bogart. You may recall the scene where he is measuring out sand into the empty can of strawberries to establish just how many portions have been purloined by his supposed recalcitrant crew to the accompaniment of much twitching and rolling of manically paranoid eyeballs. A disturbing image and one that is beginning to haunt me.

    .........................................................

    Thank you for that. The above posting proves my point. It is a perfect example of flaming.

    Let us see what words have been used under the cover of describing an unnamed old film.

    Refering to Topfield , the personalisation is clear and one can see the following insults and vilification:

    "barking mad" " maniacally paranoid" "disturbing"

    This is not the first example . Almost every single posting made has been rubbished and insulting language used by the members whose name begins with G.

    Opinions can differ but ,intentionally, and to avoid such insults, most posting were only relaying accurately facts and experiences and events at the British Embassy . Even that resulted in accusations of lies , half truths being told and suggestions that the postings were fabrications from the mind of an insane person

    ( see above )

    The above posting has absolutely nothing to do with visas and has nothing whatsoever to contribute to the forum or the subject .

    IT IS VILIFICATION PURE AND SIMPLE

    Will Admin not take action now ? Scouser wrote about everyone being entitled to their opinion.

    The above posting has nothing to do with opinions . It is personal, hostile, aggressive and deeply insulting.

    In fact it is a textbook case of flaming.

  5. IDEAS

    So what smugglers could do is to pay the baht into an offshore account in Singapore and then tt them back

    Alternatively buy baht in Singapore then pay them in to a baht a/c there then transfer them back to Bangkok and make perhaps 5 percent !

    The second suggestion would even be 100 percent kosher !

  6. i couldn't resist and changed a substantial amount of offshore THB. paid 31,80 + 15bps for 1 USD. time will tell whether it was a mistake.

    An interesting thought...

    What's to stop Dr Naam having bought his dollars at 31.80 transfering them back to Thailand and exchanging for baht at 35 the current onshore rate making an immediate and tidy ten percent profit ?

    Surely nothing !

    You lucky people holding baht offshore !!

  7. So called "experts " such as the 'G' 's proclaim their expertise but have had little true knowledge or experience dealing with applicants themselves.

    Perhaps they did their own wife's application some years ago (as one of the 'G''s admitted here recently ) and has read postings on TV .

    They then proclaim themselves as experts despite having no qualifications legal or otherwise.

    These so called 'experts' in order to maintain their phony status on this forum as experts, will then vilify, belittle, insult and flame any other person who shows him/ her self self to be more experienced, knowledgable or qualified than they are !

    Is their a market where I can place a bet on "G's" qualifications ahead of Topfields? :o

    ................................................................................

    ...........

    OK Thank you for your challenge

    One Million Baht deposited with a solicitor as stakeholder pending examination of proof of :

    1. Legal qualifications and status

    2. Evidence of experience handling visa applications including names of those applicants .

    3. Evidence of financial status to prove the money is there.

    Since you made the challenge please provide the name of your lawyer.

    We will also require the name/address and true identity of the individual concerned (which will remain confidential) and proof it is the true identity of the person posting the insulting remarks.

    I await your reply on this forum openly and not by pm.

    Please ensure you have the funds ready....and no excuses or delaying tactics please .

    Thank you

    NB Should the TV admin feel that my acceptance of Old Croc's challenge in anyway breaches the rules of this forum , I withdraw my acceptance of the offer forthwith and unconditionally as it is not my intention to break any rules of this forum which I greatly appreciate respect and admire. If and when subscriptions are introduced I will immediately gladly pay up what ever amount is asked.

  8. So called "experts " such as the 'G' 's proclaim their expertise but have had little true knowledge or experience dealing with applicants themselves.

    Perhaps they did their own wife's application some years ago (as one of the 'G''s admitted here recently ) and has read postings on TV .

    They then proclaim themselves as experts despite having no qualifications legal or otherwise.

    These so called 'experts' in order to maintain their phony status on this forum as experts, will then vilify, belittle, insult and flame any other person who shows him/ her self self to be more experienced, knowledgable or qualified than they are !

    Is their a market where I can place a bet on "G's" qualifications ahead of Topfields? :o

    ................................................................................

    ...........

    OK Thank you for your challenge

    One Million Baht deposited with a solicitor as stakeholder pending examination of proof of :

    1. Legal qualifications and status

    2. Evidence of experience handling visa applications including names of those applicants .

    3. Evidence of financial status to prove the money is there.

    Since you made the challenge please provide the name of your lawyer.

    We will also require the name/address and true identity of the individual concerned (which will remain confidential) and proof it is the true identity of the person posting the insulting remarks.

    I await your reply on this forum openly and not by pm.

    Please ensure you have the funds ready....and no excuses or delaying tactics please .

    Thank you

  9. ...they will then ensure that these newcomers and trespassers are so crudely insulted and personally abused that they will never dare to post again.

    .... Admin wake up and do your duty !

    Toppers,

    Your poor attempts at vicarious moderation of this forum are beginning to rankle.

    Rest assured that if you or any other member is truly flamed, then the matter will be addressed. Otherwise, don't consider a particular post to be a flame solely because a poster holds a differing opinion to you.

    Scouse.

    Thank you for your kind and thoughtful remarks.

    Please will you allow a compilation of such insulting postings from these people to prove beyond all reasonable doubt the use of totally unnecessary and hostile, rude, abusive and insulting language on this section of the forum ...usually directed at people who have a greater knowledge and experience than the people who post these ?

    Then you (and indeed others) can judge whether the claims made in the posting above hold water or not .

    Surely there is no place on this section of the forum for the constant use of such demeaning and insuting language as this is clearly a section dealing with serious and often legal matters which affects peoples'lives . Would you not agree ?

    As for "flaming" which is clearly banned under the rules of this forum, it can be defined as :

    " the act of sending or posting messages that are deliberately hostile and insulting, usually in the social context of a discussion board on the Internet. "

    Would you allow me to prove that also by pastings of such deliberate and hostile remarks ?

    In return , as this perusal of postings will take many hours, all that is asked is that if these pastings prove beyond all reasonable doubt that rude impolite and insulting language has indeed been used on this section of the forum by certain individuals , you wil take firm action to ensure this does not happen again. . Is this agreed ?

    Sincerely,

    Topfield

  10. I'm neither ex-public school, nor an investment banker. Sadly, I'm from rural working class origins and my days at a squalid comprehensive school in Great Yarmouth were neither happy, nor beneficial. My alma mater and I parted company on bad terms. And these days I'm forced to earn my living in a humble little law firm

    Bravo............straight from Dickens !

    Who will be the Mr Micawber to my David Copperfield?

    Can't be me.

    I earn only nineteen shillings and eleven pence ha'penny but spend one pound and a ha'penny !

  11. The report is INCORRECT

    Why dont the reporters check their dictionary !

    LiBEL involves publishing IN WRITING . Sontee spoke at a rally.

    The word that should have be used is as correctly mentioned below in the Bangkok Post what clearly has an English proof checker

    In English law you can only claim damages for Slander when you show the financial loss you have incurred.

    A disgraceful law if you cannot speak your mind ...a disgraceful decision

    Activist Sondhi gets 2 years for slander

    (Bangkok Post)

  12. Lesson for potential currency smugglers.

    Rate for baht at Mustafa's today Baht 22.98 will buy Sing $ 1

    Rate buy S$ 1 at Super Rich Baht 22. 95

    Net loss : three satang per Sing dollar

    As the onshore mid rate is currently 34.97 to the US dollar and the offshore rate currently 32.1 making a

    nine percent difference, anyone know where the profit is going folks ?

    Who is giving the incorrect rate/profiteering Super Rich or Mustafa ?

    New info below. Seems a note smuggler can make 5 satang per Sing dollar today.

    On a million Sing you can make Baht 50, 000 possibly 70,000 if you negotiate .

    " I went to Mustafa this morning and asked for a quote to sell Thb into Sgd. He first quoted me

    22.98, which was the board rate for fairly small amounts. I said can you better it, he asked for

    how much and I said Sgd 50,000, he made a call and improved the rate to 22.90. "

    [NB IT IS CURRENTLY ILLEGAL TO TAKE OUT MORE THEN B500,000 IN NOTES TO MALAYSIA]

  13. "the Immigration Rules (that you can’t find anywhere!). "

    Yes you can. Try the Home Office website, Immigration & Nationality, Law & Policy, and they're there

    Yes, you're quite right. The Immigration Rules are available but they're appallingly badlydrafted and as obsure as they could possibly be. Expanding on my point in the 'report', it's ECO-speak to say that the applicant has not complied with the Rules but in reality the Rules contain no criteria whatsoever that indicate what is or is not an application that should be granted. They are just a mish mass of procedural rules.

    The essential policy that determines how the discretion is exercised to grant visas is never stated anywhere. It is of course a political matter and it blows in the wind as immigration becomes more or less controversial. Nevertheless, we never know the ECO's criteria... that being a bar girl is a minus, that there is a presumption against black hair, that there's a weekly quota or that Fridays are bad but Wednesdays good. Perhaps the only criterion is think of a reason to reject and get hitting the keys.

    All refusals are checked and cleared by the Entry Clearance Manager before being acted upon, but so what. That doesn't assure any consistency. The outcomes of the decisions that are made in Bangkok look pretty arbitrary so perhaps there are no criteria at all. You certainly won't find them in the Immigration Rules, which was my initial point. Nor will they ever say what they are. Funny that!

    Andrew

    Dear Mr Hicks,

    I could not agree more with you. It is all arbitrary.

    The only people who really know what is going on are the ECM and those with knowledge and experience.

    So called "experts " such as the 'G' 's proclaim their expertise but have had little true knowledge or experience dealing with applicants themselves.

    Perhaps they did their own wife's application some years ago (as one of the 'G''s admitted here recently ) and has read postings on TV .

    They then proclaim themselves as experts despite having no qualifications legal or otherwise.

    These so called 'experts' in order to maintain their phony status on this forum as experts, will then vilify, belittle, insult and flame any other person who shows him/ her self self to be more experienced, knowledgable or qualified than they are !

    Their tactics are simple and predictable : Anyone such as yourself posting factual information such as the Hick's Report is told there is no need for this information as the facts are all online , and /or told the facts are incorrect and that two and two really make three.

    Should anyone dare to give an opinion or their personal viewpoint they will be told their opinion either stinks or is rubbish . In addition to protect these phony experts there is a good chance the thread will be closed !

    One only has to read these "experts" postings and it is clear for all to see how they take over the forum and drive away anyone daring to post who is not in their clique.

    Andrew Hicks's posting is well written and extremely informative. Instead of being thanked and welcomed for his brilliant well thought out exposition, he is basically shown the door.

    Twenty years experience and legal qualification means nothing to these people other than representing a threat to them and they will then ensure that these newcomers and trespassers are so crudely insulted and personally abused that they will never dare to post again.

    PM' received show this clearly to be the case as many people are simply too frghtened to post for fear of nasty insults being directed against them. ..What a way to treat people ! Admin wake up and do your duty !

  14. I'm neither ex-public school, nor an investment banker. Sadly, I'm from rural working class origins and my days at a squalid comprehensive school in Great Yarmouth were neither happy, nor beneficial. My alma mater and I parted company on bad terms. And these days I'm forced to earn my living in a humble little law firm

    Bravo............straight from Dickens !

  15. Thanks Dr Naam for your splendid reply to my earlier question.

    Do you perhaps know what interest rates are for the offshore baht. I cannot find them on any website.

    ie 1 month, 3 month, 6 month and 1 year deposits , as well as overnight money.

    Many thanks

    i can only post what my bank offers Topfield.

    -no overnight rate

    -neither 6 mth nor 1 year deposits

    -1 mth = 4.375%

    -3 mth = 4.250% (the difference indicating that the market expects a rate cut by the BOT).

    Many thanks.

    Fascinating ! This shows that although the exchange rate of the onshore/offshore baht is hugely different.....up to ten percent variation............. the interest rates are almost identical

  16. Ok I'll stick my neck out.

    I know of no other example where a currency is worth more outside a country than inside. It is in fact ALWAYS the other way round !

    As regards certain BANKNOTES I do know of an example...or at least read about it as I was not an active participant those days !

    During the Second World War the Swiss 1000 Franc notes were sold /traded at a huge premium in Germany and occupied Europe....and that means most of Europe at that time !

    This was because they represented the easiest way to get money out and to freedom !

    Gold was too heavy and the British 1000 pound notes were out of circulation. Diamonds required specialised knowledge.

  17. Quiz

    In the nineties we had an airline flying in Asia which we shall never forget.

    All the hostesses were fat old battle-axes who would bully and push the passengers around.

    "Another soft drink please" request to one of them resulted in a brusque.."you wait your turn"

    To add insult to injury the same battle-axes manned the city offices of the airline.

    Clue...they no longer operate in Asia...thank God and their ads showed a plane parked on the taxiway with the passengers still inside partying and reluctant to disembark. Initials AC.

    Can anyone guess / remember the name of the airline which flew BKK-SING-LONDON ?

  18. Interest from UK "OnShore" Savings accounts is classified as "UK derived income" and therefore liable for uk tax. The R105 only defers this tax payment, until a self assesment is completed and tax liability calculated from here.

    However there is tax to be paid on interest from onshore UK savings accounts.

    The only way to not pay UK based income tax, is to bank with offshore savings accounts.

    Just spoke the HMRC to clarify this point.

    True but you have your personal allowance of around 5K so if you dont exceed that and have no other UK income you will pay no UK tax

    By the way Arran if you want meaningful advice it would help if you tell us whether you are UK resident or parhaps have been resident for years in Thailand.. Who knows ! Can you provide any info on this ?

    hi Topfield,

    I am UK resident until the end of the this year or early next year. Then will re-locate to Thailand.

    This year I spend putting my affairs into order, my UK tax allowance will be taken up by UK rental income. I have £300k+ to find a home for with low risk and maximum return, this together with UK rental income is to be used as my income.

    Arran

    Now understand...you are in the UK and not Thailand.

    My advice you place the funds on deposit in the IOM but request interest payments be deferred. Then after you have become truly non UK resident you are free to take the interest tax free.

    Your UK rental income will always be subject to UK tax but remember you have your personal allowance and so would your UK wife and kids so you may be able to wangle their personal allowances as well !

  19. <<snip>>

    But seriously, I really don't know what the BoT can do about it. Short of introducing more capital controls, it's very difficult to stop people speculating on your currency rising, particularly if they are doing it onshore. They can intervene in the market - but they are surely doing that already. They can reduce interest rates, but that won't deter short term speculation very much.

    Beg to differ. It pays to hold baht now. You enjoy a healthy 4.5 percent interest. Were rates to drop to 2 per cent you would find speculators jumping the baht ship and returning to higher yielding currencies.

    By the way sonic, is it not amazing the way the financial markets reacted today .

    Bad political news and the stock market drops ten points. The currency markets reacted in a completely opposite way as the baht rose and hit a new high at noon of 31.70 .

    Now why in your view is the reaction so completely different. After all Thailand is facing political meltdown at the moment. There's talk of wide rifts having opened up between Sontee the coup leader and Surayut the Prime Minister and that can only bode ill for the future.

  20. What's happening in the world of foreign exchange today?

    i couldn't resist and changed a substantial amount of offshore THB. paid 31,80 + 15bps for 1 USD. time will tell whether it was a mistake.

    Really ! Implies MAYBE you actually hold offshore baht .

    Since the Thai banks are not tt'ing baht offshore does this mean the baht were acquired prior to the current crisis ?

    Or was this perhaps a non deliverable contract ie when you sell, you either make a profit or take a loss IN US DOLLARS on the rate difference.

    The Bloomberg mid rate is currently 32 but my chart did show that it dropped to 31.70 around noon .

    Saxobank informed me a few months ago that they have suspended baht trading. Which brokers do you know are still active in the offshore baht market ?

  21. Interest from UK "OnShore" Savings accounts is classified as "UK derived income" and therefore liable for uk tax. The R105 only defers this tax payment, until a self assesment is completed and tax liability calculated from here.

    However there is tax to be paid on interest from onshore UK savings accounts.

    The only way to not pay UK based income tax, is to bank with offshore savings accounts.

    Just spoke the HMRC to clarify this point.

    True but you have your personal allowance of around 5K so if you dont exceed that and have no other UK income you will pay no UK tax

    By the way Arran if you want meaningful advice it would help if you tell us whether you are UK resident or parhaps have been resident for years in Thailand.. Who knows ! Can you provide any info on this ?

  22. Lesson for potential currency smugglers.

    Rate for baht at Mustafa's today Baht 22.98 will buy Sing $ 1

    Rate buy S$ 1 at Super Rich Baht 22. 95

    Net loss : three satang per Sing dollar

    As the onshore mid rate is currently 34.97 to the US dollar and the offshore rate currently 32.1 making a

    nine percent difference, anyone know where the profit is going folks ?

    Who is giving the incorrect rate/profiteering Super Rich or Mustafa ?

  23. The Scouser will perhaps remember how it worked at the Visa Section of another British Embassy, where there was a counter at the front door and a brief check on documents before they were let into the waiting room. This was for the laudable aim of ensuring that they had at least filled in the application form before they got to the counter inside, to enable the maximum number of proper applications to be processed and cut waiting times (at least inside the building). But the checkers were properly briefed and supervised locally-engaged staff, not security guards (who were also present).

    It is reasonable for the VAC in BKK to employ a similar system, but ultimately the British Embassy has to take some responsibility for how their applicants are treated, and ensure that whoever scrutinises the applications, whether in the office or at the front door, is properly trained.

    Eff1n2ret..absolutely correct. I was there hundreds of times and the small office /booth at the entrance was indeed manned by Embassy officials who checked all the documents and papers submitted and made sure everything was in order.

    This is in fact what the trained staff behind the counter at the VAC do before forwarding to the Embassy.

    What we are refering to is the uniformed SECURITY GUARDS at the entrance. My friend ascertained these were not officials trained in visa work nor could they even speak English but were what they purported to be .....and their uniform showed them to be ......security guards plain and simple.

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