DaveCW

On 8/19/2023 at 12:49 PM, Acharn said:

Well, yeah, but you have to take it to a specialized enterprise to exchange it for the currency of the country you're in. In the U.S. you can go to most jewellers, or pawn shops. What you can't do with gold is take it to your neighborhood 7-11 and buy a six-pack of beer. In Thailand, and, I suppose, India, you can get a publicly announced price that is the same at every gold store and pawn shop. In most other countries you can't. Gold is not money, and it has disadvantages when used as the "backing" for money.

Actually the precious metals are real money, Fiat money (your paper notes) is government-issued currency that is not backed by a physical commodity but merely by the stability of an issuing government. All it takes is for that stability to evaporate and so does your fiat currency, as many countries in both ancient and modern times will attest to. But the metals will still have a physical value. 

On 8/19/2023 at 7:22 AM, RocketDog said:

Uhhhhh.?

So let's say one buys gold jewelry as a hedge against monetary collapse or gross swings.

Let's say they bought locally, did so without any form of ID asked or given, which is very common and very important to remaining anonymous.

Then let's say they decide to change it into local currency because cutting/shaving coins or bars is just  silly to buy eggs.

They may get more or less currency than they paid for it but still enough to buy their eggs at an international exchange rate for that currency VS gold.

Why is that a mistake in your estimate?

'Seems' like good planning to me.

I agree that owning gold for investment gains, especially paper gold, is unwise. But for some it's just planning for changes that are apparently  inevitable. I call that prudent.

To the OP:

A huge advantage of living here is buying and selling gold without any identification or records. That is impossible in most countries, including USA. I love it!

You pay the shop a margin when you buy or sell, so in that sense you will always take a loss when converting cash to gold to cash. Taking it to the same shop as you bought it means they might give you some preference but at least it's easier.

Two things are for sure though: gold is not colored paper, and everybody everywhere recognizes the value, portability, and security of precious metals.

It is an asset class not to be ignored.

 

Totally agree - I've been staking gold and silver for many years - and at the moment are many percentage points up - but, that's not the reason for staking - the global financial system is in turmoil with no normal price discovery in any of the markets (Big thanks to the central banks and MMT) and getting worse, so as mainly as a hedge I sleep very well at night and I expect the metals to do very well in the coming year or so.

I've also been buying here in Thailand, love the very low premiums, ease of buying and selling. Buying silver In the UK one has to pay 20% tax on top of spot and premiums, here its only 7% so I already consider that a great saving (for the future) and have begun buying.

Although silver is not very popular in Thailand as locals prefer gold, I believe that may change when/if the prices rise.

HI

I've been buying/selling Gold/Silver for a number of years, I have some Gold in Thailand, but think its time to buy some silver as well.

A quick search and I found the Bangkok Assay who sell and will buy back your bullion. Also a found Bowdins (bowinsgroup.com) they seem to have cheaper fees

My question is: Has anyone used Bowdins and can comment on their experience or have any other recommendations for bullion suppliers who will also buy back?

Many thanks

1 minute ago, ozimoron said:

Russia most likely sobotaged it just as they falsely claimed they had to shut down Nordstream 1 for repairs.

 

https://www.wsj.com/articles/nord-stream-blasts-were-likely-result-of-sabotage-german-probe-finds-11666016047

haha - sure thing

3 hours ago, ozimoron said:

I'm hoping the US follows the EU lead and takes the opportunity to declare Russia to be a state sponsor of terrorism.

Just like who ever blow up the pipeline - That surely was an act of international terrorism? Unless of course it was the Ukrainians (unlikely by themselves) as they are the only ones who at war with the Russians

10 hours ago, placeholder said:

You seem incapable of understanding the issue of degree The Chinese people are not free to protest. They face severe consequence when the authorities catch hold of them.   . What the govt. of China imposed on its people was and is far more severe than what any government in the west did. In addition, it refused to use foreign vaccines that are far more effective than the Chinese made ones. 

I have a good friend in China - He tells me often that there are many protests each year, typically at local government level. The idea that the Chinese cannot protest is something promoted by the west - Also, (if you ask the Chinese) many people have been content with the government handling of COVID - Agree or not - I think one has to see this from a Chinese point of view - similar to how we need to understand "Thainess" before getting involved in their issues.

It's all just a misunderstanding...

On 12/3/2022 at 1:04 AM, RichardColeman said:

Who'da thought extra staff were hired for X-mas after 2 years of covid anti-xmas shutdowns !

Exactly - and of these "New" jobs, how many are part-time or quality jobs with decent earnings? - Also, how many folk having to work two jobs to keep household finances going? 

I thought Thailand was putting in an application to Join the BRICS Nations, if so all PR and photo opportunity.

Are these real weapons or BB guns? - I see in one of the pics a CM.355 gun box - this is a bb gun - how many others airsoft type guns? 

Of course, part of the problem is that folk are accustomed to the RTP asking for (or taking) money to see problems disappear - so perhaps that what these folk were thinking, maybe a clever scam after all ????

Girlfriend will put him in the Dog House now... ????

10 hours ago, jacko45k said:

Slippery roads, Sat Nav failure, micro sleep?

Misunderstanding...

2 hours ago, Bobydog said:

Does this exclude Thai Nationals?

And is there dual prising for farang?

Why the big budget (loan?) when the TAT are of the sound belief that tourists will be flocking to Thailand? Given this, it seems a bit of a waste.  

Quality tourists, on overstay...

Premium tourists lined up to watch - Its what they came to Thailand for...

Has he ran this initiative passed the DPM I wonder?

"Why did your Thai partner need to extend? Did she use a different passport than her Thai one? or am I missing something here."

Her Thai PP had expired (not been home for about 7 year) so came in on her UK PP"

 

Thank you for the answer.  Did she go into the Udon Passport office and obtain a new one while there.  It only took my daughter about 30 minutes inside and then about 5 days later it was mailed to the house in Nong Saeng.  She entered on her expired Thai passport as a Thai National can return on an expired passport, she just had to renew it while here.  Upon return to the US she just showed her US passport.

Thanks for the reply. TBH we thought the process would take a lot longer than you mention above, so decided on this occasion to give it a miss and redo when next in the country and have more time. We also visited Central Mall a few times and went to the government offices there, but this was always packed and with long waiting times. Will definitely take your advice and visit the PP office on the next trip and hope we have similar waiting times. Many thanks

"Why did your Thai partner need to extend? Did she use a different passport than her Thai one? or am I missing something here."

Her Thai PP had expired (not been home for about 7 year) so came in on her UK PP

My partner and I have had to extend our visit to the LOS so have to extend our visa. This was my first interaction with immigration (other than at the airport) and my experience is as follows.

I was genuinely impressed how helpful they seemed to be, the whole process took no more than 20-30 mins as there was a small que. Also, no que numbers which I had expected, simply met at reception explained what we needed and passed over documents, asked to take a seat, and that we would then be called.

Whiles waiting there were several folks who appeared and were seen at the 90 day reporting desk, again all seemed very quick they were in and out in 5 mins. 

We were called individually, my Thai partner was first and she had no issues, then I was called the girl was polite helpful, smiled etc.

The fee was 1900B so I handed over 2000B the girl took the money and then walked over to the desk behind and gave it to a lady in uniform and within a minute or so she came over and handed the girl back my passport. All  was then stamped and passport returned to me. At this stage I was interested only in checking my passport new stamp dates etc. before thanking the girl and leaving

As we were leaving my partner than asked if I got my 100B change, it then struck me that I did not. So they kept the change themselves. Is this usual, is it necessary to give exact fee. I'm not complaining over 100B, as I said was happy with the service just seemed a little odd that they would do this. 

We arrive on the 2nd May, so on the surface this sounds like good news.

However, should I take the risk of cancelling the Hotel/PCR test (can cancel before 24th for full refund) which may in some way end in screwing up the QR code, especially as the TP is temporarily closed to allow for changes.... and the potential for all this to go south. 

Perhaps better to stay on the side of caution and keep all as is - its a small loss in the grand scheme as well as piece of mind.