Naam

6 hours 28 minutes drive via route 304 and route 24 means the free coffee should be top quality. 

9 minutes ago, Pattaya46 said:

I visit Immigration Office only once a year, for my 1'900B Extension.

in 14 years i have never visited an immigration office and i have no plans to do so.

1 hour ago, Brunolem said:

The very large majority of people work for a living, while producing something, paying no attention to the players' bombast...

a fair evaluation as the very large majority of people were never winners.

7 hours ago, Brunolem said:

Said differently, the USD has lost massively against gold when measured in purchasing power.

an utmost ignorant claim as only those Dollars lost purchase power which were kept by ignorants idle under their mattresses without investing them. please stop shooting your own foot. it must be hurting besides... boring seasoned investors to near death or forcing them to roll on the floor with laughter.

12 hours ago, Brunolem said:

It appears that...

...you don't understand my comment

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it is a waste of time to discuss the paint mix and the brush stroke of an old master (e.g. Rembrandt) with a blind man.

now relax and check whether the value of your gold holdings have kept pace with the inflation rate of the country you are living. if not, just blame fractional reserve banking and soothe your mind with animated youtube presentations.

8 minutes ago, simoh1490 said:

Remind us how the forex system works, your interpretation that is, I saved the link because it was sooo good.

i can't wait to see the animated presentations on youtube but i was just told that dinner is served. i wonder whether enlightening books on finance are available which i can colour with crayons?

1 hour ago, Destiny1990 said:

He doesn’t deny that but Naam just refers to his personal situation..

He probably selected more winners then loosers on the stock exchange market duh..

 

neither stocks nor stock exchanges. i invest and trade exclusively OTC in HY fixed income and once in a while distressed debt as well as forex. unfortunately i can't provide any pertaining introductions on youtube.

57 minutes ago, Brunolem said:

There seems to be a confusion here between the flux of money in the economy and the financial markets, and the arcane complexities of fractional reserve banking.

 

Out of interest, there are some very good introductions to the latter on Youtube

5 hours ago, Brunolem said:

It appears that you have a very limited understanding of economic and monetary affairs. 

that's the reason why i (very) comfortably retired at age 46 (29 years ago). i could have retired a few years earlier but my limited understanding of monetary affairs prevented that.

4 hours ago, Brunolem said:

6 hours ago, Naam said:

my personal view -shared with millions of fellow investors- is that anybody who uses the expression "fiat money" is decoupled from financial reality. 'nuff said!

Good...then how do you cal! the money created by the banks these days?

you are now diverting from a general use of "fiat" for any money to the specific money "created by the banks".  the overwhelming majority of assets acquired is not paid for with created but with "solid" moneys who's values are backed by various means (too many to list). that these values fluctuate is quite normal as money is a commodity that moves based on offer and demand.

having said so, i claim it is nearly impossible to have a meaningful discussion with a counterpart who's view is:

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Brunolem said:

What some members above don't understand is that in case of major inflation, or even hyperinflation, which is to be expected, as in some EM now, is that the price of gold inflates simultaneously, so that whatever the prices are, you keep your purchasing power, while those who are in fiat currency cash lose 10% or more every week, or month...

because here's the reality as far as the "simultaneously inflated gold price" is concerned.

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Brunolem said:

There are plenty of very serious and reliable authors who are expecting what you describe, sooner than later...and most of them indeed strongly recommend to have some gold, preferably in coins and safely stored with you.

 

What some members above don't understand is that in case of major inflation, or even hyperinflation, which is to be expected, as in some EM now, is that the price of gold inflates simultaneously, so that whatever the prices are, you keep your purchasing power, while those who are in fiat currency cash lose 10% or more every week, or month...

my personal view -shared with millions of fellow investors- is that anybody who uses the expression "fiat money" is decoupled from financial reality. 'nuff said!

12 minutes ago, Brunolem said:

Meaning that...China's economy cannot crash?

Because Xi knows the exact remedy to any situation?

Lucky them!

of course its economy can crash but highly unlikely for the reasons which are since several years published by envious U.S. American China haters and (i repeat) theorising eggheads.

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Anyway, the interesting part of the article is not the forecast, but the information regarding China's financial situation...

my comment refers to "China's financial situation".

1 minute ago, Brunolem said:

Sure...if you look for economists and related professionals who have never made mistakes in their forecasts, you won't find any!

 

Anyway, the interesting part of the article is not the forecast, but the information regarding China's financial situation...

China's financial situation is a unique one which can't be measured with our western capitalistic yardstick. on top of that China's "ruler" XI can introduce crisis counteractions over night for which our western governments would need weeks or even months of discussions and political horse trading to reach consense. the latter is something that the self-appointed gurus and theorising eggheads never take into consideration. more yawnnn...

On 9/24/2018 at 4:39 PM, Jimbo2014 said:

However there will be bright spots in the crash and even if global growth is flat or slightly negative over the ensuing decade or half a decade there will be great buy opps for those with some cash in any crash.

3 hours ago, Brunolem said:

Here is an interesting article about China's debt situation...

 

https://dailyreckoning.com/rickards-debt-bomb-ready-to-explode/

yeah, yeah... good ol' James Rickards, gloom&doom prophet, gold speculator and former counsel of

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Long-Term Capital Management L.P. (LTCM) was a hedge fund management firm^[1] based in Greenwich, Connecticut that used absolute-return trading strategies combined with high financial leverage. The firm's master hedge fund, Long-Term Capital Portfolio L.P., collapsed in the late 1990s, leading to an agreement on September 23, 1998, among 16 financial institutions—which included Bankers Trust, Barclays, Bear Stearns, Chase Manhattan Bank, Crédit Agricole, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Paribas, Salomon Smith Barney, Société Générale, and UBS—for a $3.6 billion recapitalization (bailout) under the supervision of the Federal Reserve.^[

another verse from Rickards' various poems

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On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins, that the U.S. dollar was facing imminent hyperinflation and was vulnerable to attack from foreign governments through the accumulation of gold and the establishment of a new global currency

yawnnnn...

2 hours ago, sharktooth said:

Yeah right enough... in the past twenty years I have only worked offshore in North Sea, West Aftica, Middle East, S.E Asian (too numerous to mention) and Australia and NEVER had a problem. But obviously you know better than me. 

the reason you never had a tax residency problems because you worked offshore Einstein! your BVI construct and the Mauritius bank account were irrelevant.     

10 hours ago, sharktooth said:

You don’t know what you are talking about.

and you possess a wealth of no idea about tax liabilities.

4 hours ago, sharktooth said:

I registered my company in BVI and the bank account is in Mauritius. BVI have 0% tax. Happy days.

both no relevance to taxes! relevant is the residence country of the bank account beneficiary to which the proceeds are transferred.

Just now, Lacessit said:

13 hours ago, Naam said:

rong yew are! vee Tchermans are in fakt tchampions in producing rubbisch.

Yes, I believe the brand name is Mercedes-Benz.

my wife is very happy with her Benz

7 hours ago, AlexRich said:

 

You pay taxes in Thailand every time you buy something, so you are contributing tax wise. You are also contributing to the local businesses, who pay taxes on the profit they receive, profits that are fractionally higher because you and other foreigners are there. The fact that you don't pay tax at home is not a gift from Thailand, it's a consequence of being non-resident, you are not using any resources of your home country. You could do the same thing by moving to Cyprus.

we have lived in Cyprus for several years when i still worked as a consulting (many rainy seasons ago). and we liked it very much.

Cyprus was on our checklist 14 years ago and so was Malta, Malaysia and the Philippines. Cyprus was a loser due to extremely high property prices for extremely sh1tty real estate. estimated rent for a home equivalent to our home in Thailand US-Dollars 5-8,000 / month. estimated construction cost US-Dollars 2.5-3 million.

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The fact that you don't pay tax at home is not a gift from Thailand, it's a consequence of being non-resident...

call it what you want, we consider it a gift and are consequently grateful for it.

1 hour ago, TunnelRat69 said:

Hmmmm  I have not tried, as I have the equal or better in another thai bank, I have just read that they don;t except a fixed account, maybe I am confused on that issue.    mea culpa..........but if you want real return on your money, Vietnamese banks are presently paying 7.5% PA on deposit in Vietnamese Dong accounts...........it is easily converted to USD and sent out of country at any time, I have two accounts there.

questions:

-is it difficult to establish an account?

-what's the maturity of a 7.5% fixed deposit account?

-can you get a debit card on a current account?

-if yes to debit card what's the interest rate?

thanks in advance for any answers.