nigelforbes

It should be made clear that USD is one of the Reserve Currencies and not the Reserve Currency. Yes it is the largest by a substantial margin but the other Reserve Currencies still total over 41% and the RMB share is increasing. I'm certain that the use of a basket of currencies will be the future model rather than dependence on a single currency. This is very similar to using Special Drawing Rights (SDR's) which have become increasingly used and offer more flexibility than a single currency. https://en.wikipedia.org/wiki/Reserve_currency

It's not been a good week for the Swiss, has it.

You joke, but: my uncle got a job with a jewelry shop on Hatton Garden, right after the war. One of his tasks was to sweep the workshop floor but he was allowed to keep whatever he swept up. At the time they used a sawdust like product called sweep to collect the bits and pieces from the worktops that ended up on the floor. He put the sweep into a 50 gallon bin and when it was full he hauled it up to a smelter in Sheffield who separated the contents and credited various precious metal accounts in his name. When the gold account reached a certain level, the smelter would cast a gold ingot which he stored. When he first told me this story I went, oh yes, right, roll of eyes! Then one day he showed up for breakfast with a gold bar wrapped in newspaper, he took one down to sell to his mates in the Garden periodically, free of VAT of course. That was his pension.

If only there was enough of it, unless you're hiding a bunch of course. ????

It can be argued that the current banking crisis is part of that collapse and that perhaps people haven't been too active in trying to avert a catastrophe. It is after all, US interest rates and the value of the 10 year US Treasury bond that is at the heart of the current problem.

Yes of course, this is not a "right now" issue. But I do think a more probable outcome is that rather than have a single currency, everything will be based on a basket of currencies, where individual currencies come and go, that's pretty much what we have in parts of the global economy currently.

Whatever it turns out to be, and I've no doubt somebody will soon mention Bitcoin or similar, the effect on the US could be substantial.

I think, as you suggest, the technical definition of residency for bank account purposes, has been stretched. That is not to say our bank accounts are invalid but it does suggest the banks can apply the letter of the law to new applicants, when it suits them.

Put simply, this is where the world ceases to be so reliant on USD and the implication of this. At the start of this century, over 90% of global trade bills were settled in USD, today it's just over 50% and falling, the forecast is for 40-45% in 2 or 3 years. If you exported or imported something, the bill was paid in USD, today it's paid in Euro's, Yuan even Rupee's and other currencies. Is the US Dollar going the way of the English Pound and what are the implications? USD is at the head of the FOREX currency tree, what happens to that tree when other currencies on the tree are stronger and more stable? Oil is priced in USD, so is Gold and other precious metals, all of which need a stable pricing currency. The IMF has reduced its USD holdings from 77% to 57% in just 20 years, the global stocking of USD has fallen by 20% over the past four years alone. All of these things suggest that USD is rapidly becoming less valued, it's already a very volatile currency and is forecast to be even more so in the future. This does not bode well for the US, lower demand for USD means lower value of the currency and debt that nobody wants to buy any more, ouch. Historically there is one solution to avert an economic catastrophe, war is one way to create demand but at what cost. Let's hope there's a better plan somewhere. https://sundayguardianlive.com/news/de-dollarization-world-faces-threat-of-economic-catastrophe https://sundayguardianlive.com/news/de-dollarization-world-faces-threat-of-economic-catastrophe

Rubbish!

A non resident account must be specifically requested at account opening time because it comes with restrictions. Foreigners in Thailand who have opened accounts here will have been given resident accounts, unless they specifically requested otherwise. Restrictions on NR accounts include interest cannot be paid on the account plus baht cash cannot be deposited.

I haven't reclaimed tax on bank interest for a few years but I continue to recieve the tax forms from the Revenue.

If you have ever reclaimed tax paid on savings interest, you will have filed a tax return. Once you've filed, they send the forms every year.

I used to file Thai tax return every year to reclaim tax paid on ban interest. When I reached retirement age and started to recieve pension payments I was obliged to either report the income or to forego the tax paid since the tax on my income was quite small and the tax paid on savings wasn't, I decide to declare the income rather than get caught put downstream. Sorry but this will be my last post, on any subject.

It varies from year to year, if I need extra income one year, from my private pension, the lowest rate of tax here makes it an inexpensive transaction. Obviously I try not to pay any tax, if it can be avoided if it can't Thai tax rates are cheaper than uk rates, at my level of income.

Another vote for Dr Roy at rutnin Eye hospital, perfect English language skills, western education, excellent bed side manner and thoroughly professional, you are highly unlikely to find better.

Yes, I have three. My UK state pension falls within my UK personal allowance. My US SSc is not taxable here so is not mentioned on my Thai tax return. My private UK pension is also within my UK personal allowance which means it is not taxed in the UK, but, the sum of the UK state pension and my UK personal pension, can mean I am taxed in Thailand. But the private pension is a SIPP so I can control the amounts and the timing of them.

I do, not much but I do declare the income and pay.

If you're going to quote me, do so In context and completely rather than cheery picking a few words to serve as the basis of your ranting admonishment.

Ah, right, now this is something totally different of course. If CM Immi were to employ such talented visa experts, they could wipe out all the agents business overnight.

The storm seems to have cut a fairly narrow path. We're East of the main road thru Mae Rim but north of the samoeng turn. The storm came at us from the south east, so I guess it hit san sai before us, presumably ruam chok before that, where it went afterwards, who knows.

A brit friend reports seeing the army helping out in Mae Rim, says billboards are down and at least two cars crushed by concrete poles. Sirens have been blaring nonstop for some time.

Our power pole is at 45 degrees, held up only by the wires.

The most powerful storm I've ever seen, just ripped through Mae Rim. Power poles, trees, my sala, all flattened, it's like a war zone and I've been through hurricanes in Florida, this was just as bad. Scary stuff

My BIL had a Healey 3000 when I was 15 years old, it was a ferocious beast of a thing, sprite and Midget don't even begin to compare.