waza

Law and order can be profitable. What does it cost to get a clamp off?

Brilliant article on disheartening practice, headed by an inspiring picture. How can the coup leaders fail to act?

Positive steps, Viva the coup!

Yingluck faces assets probe

Its a long shameful fall from Prime minister to having your assets probed. Twice in one family, they really must be clones.

Hopefully they will learn that crime and corruption doesn't pay.

From the article:

"The Government Savings Bank (GSB) yesterday came out top in an auction for a three-year loan worth Bt50 billion, offering the lowest interest rate among 12 participants from both government and commercial banks ... The lending rate offered by GSB is below the government's three-year bond yield of 2.45 per cent per annum currently," said Chularat."

I think it's important to point out that these government-backed loans at lower-than-market interest rates are absolutely no different in principle (pardon the pun) from government-backed purchases of rice at higher-than-market prices. Both are a form of subsidies to support government financial and social policies. The only difference is they are subsidies directly benefitting different segments of the Thai populations. The loans are of benefit to the financiers and the purchases to the farmers.

Bill are you really that out of touch to recognise the difference between a rice scam that was exactly that and defrauded all members of Thai society including the rice farmers? It bears absolutely no comparisons to the government-backed loans at lower-than-market interest rates which are compensating the farmers for their losses. The big winners here are Thaksin and his sycophants, the looser are the Thai people who will foot the bill, its not so smart.

I believe I am in touch with the rural areas. I live in a rural area and see the Rice Scheme did not defraud the farmers. I see what benefits the Rice Scheme and other programs sponsored by the former governments (roads, dams, hospitals, schools, electricity, water, etc...) has had on the rural areas including local farmers. Is there any wonder why there would be such overwhelming support for these former governments by the rural areas?

Maybe I am out of touch with the urban areas where it seems there is a huge influx of wealth accompanied as usual with graft and corruption. And is there any wonder why the urban areas would oppose former governments who redistributed wealth out to other areas of the country and through the vote also began to redistribute the political power?

The Thai people will indeed foot the bill of this political divide, and will continue to pay and pay until it is resolved politically. I can only hope the current junta and the promised reforms leading up to a future election will help resolve these divides; but it's going to require a realization and an acceptance from the opposition of the former governments that the rural areas are now awake and must be dealt with at least as equals.

If you are so in touch Bill, then tell me where did the money come from to pay the farmer, build the infrastructure and other benefits? It cant be from the rice they grew because that's still in storage, nor could it be from the taxes they paid, because they are relying on government subsidies. The only redistribution of wealth that has happened during the Thaksin proxy governments indentures has been from the middle class to the Shinawatras. This golden age for the farmers is just an illusion to fool the simple folks like you, its created from debt. A debt these farmers and all Thai tax payers will have to foot in increase taxes, fees and charges and an increased cost of living. This illusion is over, the house of cards is collapsing, these farmer will be left with a massive surplus of paddy rice which nobody wants and debts they cant service. Eventually they will sell the farm to one of Thaksin's corporations and head to the city to scrounge a living. To the urban life you so despise for its "huge influx of wealth accompanied as usual with graft and corruption."

From the article:

"The Government Savings Bank (GSB) yesterday came out top in an auction for a three-year loan worth Bt50 billion, offering the lowest interest rate among 12 participants from both government and commercial banks ... The lending rate offered by GSB is below the government's three-year bond yield of 2.45 per cent per annum currently," said Chularat."

I think it's important to point out that these government-backed loans at lower-than-market interest rates are absolutely no different in principle (pardon the pun) from government-backed purchases of rice at higher-than-market prices. Both are a form of subsidies to support government financial and social policies. The only difference is they are subsidies directly benefitting different segments of the Thai populations. The loans are of benefit to the financiers and the purchases to the farmers.

Bill are you really that out of touch to recognise the difference between a rice scam that was exactly that and defrauded all members of Thai society including the rice farmers? It bears absolutely no comparisons to the government-backed loans at lower-than-market interest rates which are compensating the farmers for their losses. The big winners here are Thaksin and his sycophants, the looser are the Thai people who will foot the bill, its not so smart.

Is this right?

About 70 per cent of the debt of nearly Bt200 billion owed to the farmers has been paid while the funding has also been sought successfully.

The Thaksin puppet government spent 600 billion baht and stilled owed 200 billion in payments for Bt400 billion in rice?

but also to manage huge rice stockpiles - as many as 16 million tonnes - excluding incoming additional rice from the harvest season,....The ousted government was able to release only half of the stockpiles worth about Bt200 billion.

Around 2.8 million tons of rice in the rice support program were found missing and a large quantity of rice was reportedly spoiled. Total damages were estimated at over 500 million baht.

How is that possible with a watchdog anti-corruption committee policing Thailand?

Oh thats how

It is heartening to see the military are dismantling the red roadblocks to the re-unification of Thai society and disarming Thaksin's paid thugs. Now if they can remove the Thaksin's financial and cult like influence that impedes democracy in Thailand we would have free and fair elections that no one can dispute.

This is one aspect of the rice scheme that never talk about by the anti government supporters. These are tax revenues that are generated by payment to the farmers like VAT, stamp duties etc. and stated as income. The final total loss is lesser when these incomes are rationalized

Even fabs admitted that the last news mentioned 'only' 500 billion Baht losses.

As opposed to your "everyone knows" figure of 700++Billion baht losses. I still haven't come across an agricultural subsidy programme that has made a profit, or is expected to, anywhere in the world.

Cue some "anti" posters scouring the web to find that gecko farming in Ulan Bator is subsidised and makes a profit, just to make a point................................

Well Fab4, your hero Thaksin has one and he, his family and his sycophants profited enormously from it............

"Former Thai Prime Minister Thaksin Shinawatra said a rice-purchase program should be extended for several more years, rebuffing critics who say the policy has increased government debt and encouraged corruption........“If we manipulate the mechanism for two years, three years, then things will be moving naturally,” Thaksin, who was ousted in a 2006 coup and has lived overseas since fleeing a 2008 jail sentence, said in Singapore today. “The rice price in the world market is increasing.” http://www.bloomberg.com/news/2012-09-24/thai-rice-policy-should-stay-several-more-years-thaksin-says.html

Unfortunately the farmers were ripped off and the tax payers are left with a mountain of rotting rice and a massive debt.

This is one aspect of the rice scheme that never talk about by the anti government supporters. These are tax revenues that are generated by payment to the farmers like VAT, stamp duties etc. and stated as income. The final total loss is lesser when these incomes are rationalized

Even fabs admitted that the last news mentioned 'only' 500 billion Baht losses.

As opposed to your "everyone knows" figure of 700++Billion baht losses. I still haven't come across an agricultural subsidy programme that has made a profit, or is expected to, anywhere in the world.

Cue some "anti" posters scouring the web to find that gecko farming in Ulan Bator is subsidised and makes a profit, just to make a point................................

Well Fab4, your hero Thaksin has one and he, his family and his sycophants profited enormously from it............

"Former Thai Prime Minister Thaksin Shinawatra said a rice-purchase program should be extended for several more years, rebuffing critics who say the policy has increased government debt and encouraged corruption........“If we manipulate the mechanism for two years, three years, then things will be moving naturally,” Thaksin, who was ousted in a 2006 coup and has lived overseas since fleeing a 2008 jail sentence, said in Singapore today. “The rice price in the world market is increasing.” http://www.bloomberg.com/news/2012-09-24/thai-rice-policy-should-stay-several-more-years-thaksin-says.html

Good news for the rice farmers and their local economies. Now its time to break the back of the rural debt cycle.

In the VAST majority of cases this scheme has in fact cemented the Thai farmers into their Debt Cycle.

Their rice was "pledged" months ago and delivered to Government to Silos etc. and the farmers were given pieces of paper "guaranteeing" them payment from the Government.

That payment never materialised - so the Farmers had no rice to sell on the market, and, waiting waiting months for the oft-promised payment from the Government, they they had no cash to spend; neither on day-to-day living expenses nor for their future seed, fertiliser or other necessities for their next crop.

So - what happened?

Desperate Farmers were obliged to use the pieces of paper issued by their "Government" as Security for yet more Loans from the local "Tow Kae" - invariably at exorbitant interest rates - simply to live day to day and plan for their next crop.

The recent long delayed payments to farmers are in no way a stimulus to the Thai Economy - the effect has already been discounted and offset because the money has basically already been spent.

Patrick

I don't understand your point Patrick. Are you saying the farmers shouldn't be paid? Or that the dysfunctional PTP government should still be in charge and perpetuating the political and economic stagnation, corruption and mismanagement that caused the lack of funds to pay the farmers? Thakisnomics is the root cause of Thailands recent economic woes and its has impacted on all Thai not just the farmers. There has been a real drop in the quality of life for all lower to middle income Thais, as Thaksinomics has redistributed wealth from them to the already rich.

I understand your point about the delay in payment has caused hardship for the farmers and forced them to find alternative funding arrangements, mainly through debt. But any further delays in payment would only exacerbate the situation. Now that they are receiving payment, one would assume that they can pay these high interest debts off and thereby reduce their outlay. The next step would be to set up an easily accessable low interest micro loan system to break the back of these loan sharks.

Good news for the rice farmers and their local economies. Now its time to break the back of the rural debt cycle.

https://plus.google.com/105443070073745244177/posts must have a long tourist visa

Didn't take long for the narrow minded to turn a current topic into a blame game of past deeds and spin it way off topic.

I agree the situation is precarious, their are hot heads on both sides stoking the peoples discontent for their own or their benefactors benefit and agenda. What we need are cool heads to take the lead and calm the situation down, the last thing any reasonable person wants is to see bloodshed.

"Pheu Thai Party lawyer Pichit Chuenban has accused the National Anti-Corruption Commission (NACC) of unfairly indicting former caretaker prime minister Yingluck Shinawatra - in contravention of the Constitution - by combining two petitions to examine alleged mishandling of the rice-pledging scheme into one."

At least he isn't stupid enough to claim she isn't guilty as charged, only that Yingluck, the darling of Issan, is.

"Pichit said Yingluck had protested her innocence to the NACC, but to no avail."

I have been framed

and now a word from our sponsor

move over Poo

Its encouraging to see at least one Thai political stalwart is showing some leadership and not playing the blame game. However it would be productive if a few others joined suite.

sacked because his fight against internal corruption within Thai airways was stepping on some big toes. Now we can see what rampant corruption can do...........

“I just want the board to explain the reason,” Piyasvasti said at a media briefing yesterday. “It’s ambiguous. The performance of the company during my term has improved in every aspect and I passed the evaluation at 86 percent.” Piyasvasti oversaw a fleet modernization and cost cuts in 2009 that helped Thai Air rebound from its largest ever loss the year before to a record profit in 2010.........“There is no political interference in this issue,” Prime Minister Yingluck Shinawatra told reporters today, adding that the government has no one in mind to replace Piyasvasti. http://www.bloomberg.com/news/2012-05-21/fired-thai-air-ceo-blames-politics-over-business-southeast-asia.html

Thai Airways International (THAI) suffered heavy losses of about 13 billion last year as the airline board of directors on Friday approved the resignation of Ampon Kittiampon as chairman.