flying

Another thing some countries do that Thailand does NOT do is make any allowances whatsoever for retirees who own real estate. In Thailand of course with its xenophobic foreign land ownership laws, this means CONDOS. So long term retirees may own a ten million baht condo but that does nothing towards their ability to legally live in the country where their foreign home is located. Some other countries are more reasonable in this regard. For example in Mexico a retired expat who owns their home can qualify for retirement status using ONE HALF the level those who don't. (All expats have a path towards residency.) In Ecuador, anyone who buys any real estate which is on the tax books at a minimum of 25,000 USD can obtain permission to live in that country as long as the real estate is owned, and can become a permanent resident in approximately three years. Not saying Thailand should be as open as Ecuador in that regard, but it points out a major poor feature for retired expats in Thailand who do own often expensive condos yet have no security of being able to actually live in what they own over the long term.

I am fine with Thailand not being quick to allow citizenship & I am actually glad they do not (directly) allow land purchase as I have seen what happened in other similar places where the local population got priced right out of beach front lands etc.

But I agree with your statement that owning a condo should be counted towards showing worth. That would be a nice upgrade

But then again condos are not liquid assets & really does nothing to help that person living expense wise. At the end of the day that is...I presume...the reason to show you have liquid assets/funds available.

For me that was a rather disappointing stage.........

Credit to Voeckler for at least making it interesting & exciting in the final moments.

Also Voight ! where the heck did he come from Good job & I always liked him as he is one of the hardest workers

You know props to sky they sat & controlled well....but to be honest as the years go by I really see less & less to get excited about

Dont want to show my age but it seems to me for many years now folks ride to survive or protect.

In the past folks seemed more willing to lay it all out on the road & take chances. There were many more antagonist

that would really piss off even the heads of State within the peloton. With their constant attacks...coming at anytime not just when expected.

They might blow up & not make it stick but they laid it all out. Made for much more exciting racing IMHO

Riders like Chiappucci, Ghirrotto, Virenque, Jalabert, & many more

I guess the Tour is so big & points so important risk is minimized now? I don't know........maybe it is just been perfected/homogenized

But I would like to see some real attacking by some that scare the lead teams into action. Not just sitting on wheels.

Well there is still time & I can hope

No you didn't and you slide over the reality (to suit your interests) but not a crime.

No different one might say than governments borrowing money against anticipated future receipts.

What is sauce for the goose is also good for the gander. Better not to get on a high horse. Might fall off.

How in the world you got that from what I posted with your usual high horse BS is really beyond me....

But hey carry on with your usual blather add nothingness to any topic you choose to crap on.

yes but isn't that what we FEAR? would it not make more sense to only lend what you can repay? to sell only what you HAVE?

I am guessing you meant to say "only borrow what you can repay".........& sell what you have

Yes of course & that is how I live MY life.

But this has been the instant gratification generation hasn't it? The trend continues

None including the government themselves borrow what they can repay

Consumers rack up credit bills because credit has been too easy to obtain & they want their crap today.

Not when they can afford it.

Sad yes? When I was a kid they had something called lay-away

My mom would buy something say an appliance or a gift for one of us for Christmas

She would take the item to a back counter called lay-away...Put some money on it & the clerk would

jot it down in a book & take the item in the back storage area & put her info on it.

Then every pay day my mom would go in & put $xx dollars on it till it was paid. It was at that time that they gave her the item.

Today you see people use credit to buy a burger at burger king

Of course a big purchase like a home or auto always had a loan but..............You had to qualify.

Your income had to be stable & adequate. Even then when folks did get a mortgage it was a matter of pride to

pay extra & early so they could get it paid off & have a quaint burning of the mortgage party.

I am glad I grew up in those times & learned that way of doing things. I stumbled once when young but have learned &

lived the majority of my life this way.

As for Sell what you have? Well that would kill the casino's they call markets wouldn't it

can I ask a simple question? are ALL the paper trades covered by REAL Au? I mean really? forget the BS from the companies is there enough Gold to cover ALL the paper and futures trading? if not then it all could collapse?

There is a man named Harvey Organ who has posted stats for years on his site.

http://harveyorgan.blogspot.com/

It is interesting to watch at times the flow.

Paper vs physical has been debated for years

It would appear that many times what is available is traded so the literal answer would of course be no.

There is not physical behind every trade

But as others have pointed out each sale has a counterpart so the game continues.

Is it fair? Is it legal?

These questions again have been asked for years....Some like JP Morgan has been accused, investigated

especially in regards to AG manipulation

Is it a house of cards? I guess no more than banking itself.

After all if every person with money in any given bank went in today & asked for their money

the bank would not be able to complete the transactions. It would be a bank run followed by a bank holiday.

You would think it would have occurred to him that somebody

already tried that with a Boeing 757-223 loaded with Jet Fuel

weighing probably close to 100 tons & doing at least 350mph

It didn't do all that much damage considering................

I cannot imagine a RC plane or three would cause much damage

even with C-4 on board

Unless he had an RC Air Force of a couple hundred planes

Three model planes??

now San Bernardino looks like filing bankruptcy

They are the third California city in a month

http://www.cbsnews.com/8301-201_162-57469953/3rd-calif-city-to-file-for-bankruptcy-in-1-month/

If you want my recommendation it's Elite Smile in the Pantip building - it's were I go now and am happy so far. Not much cheaper but every bit as good as Grace - in fact better, in my opinion.

Thanks for the tip I might give them a try when next needed.

Been going to Grace for years & they are good but the last couple of times they seem to really push the deep cleaning.

For me.... I feel it actually is too much stress on my teeth as it is a rather rough procedure. I would prefer the regular cleaning....

Then how come people on the income method don't have to show any money in Thailand?

That would be because............they have INCOME

Like any system if you have repay-ability you have a better rating. A steady income stream is smiled upon.

After all 65k times 12 months is............780k........hmmm

I agree with Darrel & have multiple accounts some for spending & some for sitting.

I do not agree that the one used for visa needs to be spent down to look legit.

I tend to agree with Brit1984

I think the system is there to protect against deadbeats coming to Thailand to retire, getting into a financially desperate situation and becoming a burden to society in one way or another.

Some could call it their emergency repatriation fund as well as visa required account. There is no way any govt official would complain about that + as stated by others we have multiple accounts & use that for expenses.

Lastly with some countries US in my case getting more & more trigger happy about transfers in excess of 10k + the fees that inevitably are charged at some point of transfer ++ the fact that Thailand is smoking the US in interest given at roughly 3x greater amounts.....

Well why would anyone bother transferring money in & out to satisfy this?

I would ask you and any marriage extension people NOT to vote in this poll and if you did, please delete your vote. It can't be a clean poll otherwise. I can't change it now. It is what it is and what it is is about RETIREMENT extenders using 800K.

Ok will delete but now I feel so financially discriminated against

PS: it is retirement based on marriage

Well I would like to include you now but I have run out of time to edit the poll. So it would be a mess to include marriage now. Too late. Sorry.

No problem I just voted door #2

This is ONLY about people using the 800K method.

So are you not interested in us 400k guys?

Are you under money seasoning rules? If so, yes. If not, no.

Sure it is no different 2 months 1st time & then 3 months thereafter

We just get a break because they know we are married.... so they like us twice as much

This is ONLY about people using the 800K method.

So are you not interested in us 400k guys?

unless you can earn more interest than in your native country,

Interest rates in the US are quite dismal & have been for some time

3% looks pretty darn good in comparison

Most US banks offer 0.25% on savings & 1% or less for CD's up to 5 years...Of course if you want to lock it for 10 years they will give 2%

So Thailand with 0.75% is 3x as good for regular saving & 2.9% for some savings like Ayudyha are not even fixed although may change later

But even BKB has 3% for 11 months

So compared to the USA at least Thailand is not a bad place to park some cash if your interested in savings or fixed rates

kitco prices are around 6% or so above spot here 1/2% or less buy sell spread. We also buy outside Thailand and accept 6% + premium but still hold most here.

APMEX runs about 3% over spot for 1 oz coins such as Maples..

The economy here is so fluid and adaptable a brand new building or restaurant can go up in a matter of days. How long would it take those things take to go up in the usa? Years?

You have a point, but Thailand is "adaptable" that large numbers of the exact same business open in clusters and rents are so cheap that no one makes a decent profit, but many just limp along on almost nothing. The West does not want to emulate Thailand's business practices.

I don't think the US needs to ...or should even try to emulate but....

I do also think that regulations & govt interference has stifled business in the US to such a degree that many will no longer even try due to the insurmountable red tape & hoops they need to jump through not to mention costs of compliance.

Even in my trade of building the licensing with its regulation & costs followed by the insane level of inspections that have no rhyme nor reason behind them makes one scratch their heads.

For instance..........A couple would like to build a home........Sounds good...stimulate the economy on many levels right?

Workers will be needed....materials will be bought from many places....materials will be manufactured....taxes will also be paid for permits & later property taxes will increase greatly because the property once blank has now been improved.

Ok lets get started.....

1st need a contractor because in many States you need to be licensed to work on any project that exceeds $xxxx

Hoops galore but I jumped them & am licensed pay all the fee's & taxes & million dollars liability insurance coverages etc.

Ok lets get a permit....The building departments now require a architects stamp on any plan...why?

Because it relieves them of any responsibility/liability. even though they are supposedly all structural engineers &

that is after all their job to inspect plans & stamp them safe/approved or not....

Ok get the architect....big $$$ because they base it on a % of total project costs...

Ok done now...........get the permit yes? I mean it should be super easy & fast now because the building department has no liability having passed it off to the architect.

By right they should now not even look at the plan because they cannot change it. Because if they do they render

the architects promise void & regain the responsibility/ assume liability for the plan they sought to sidestep.

Well that is how it should be but no........you are looking at 3-6 months in most States to get the permit to start.

It has to go through...Plans & surveys dept, Health department, Planning Department,Fire Department, Then finally back to Building department for them to stare at awhile longer to justify their govt job.

The customer is expected to sit idle & wait along with all the possible workers waiting to work.

Don't even ask about commercial builds or worse yet a restaurant with all its vents & grease traps etc.

Not that these things are hard to build mind you as they are simple. But it takes health & all the others even longer to decide

if yours are acceptable even though there are basic rules sizes etc based on volumes.

It is crazy because ultimately these permits & taxes in the end are also revenues for the State govt.

all the income from the workers etc are revenues for both State & Fed govt.

Yet you are stuck

It is crazy because it does not need to be this way. 20 years ago I would drop a plan at 8am & pick up the permit at lunch

Govt is just too dang big now & they are killing the private sector. They move like snails to protect their jobs that in reality

are 75% at least over done & not needed.

Guilty as charged & no excuse for it except.............Dang it is soooo hot some days.

I have ridden all my life since I was 15

Raced for decades

Know all the good/valid reasons to wear one.

But I have to admit a couple of times on the scooter if I am on my way home & know

it will be cop-less areas & if it is a scorcher I have put the lid under the seat.

To that end.......Suggestions for the best ventilated helmets available here?

I am currently using a Bilmola Advantage & it is a nice lid but...the vents are too small IMO

Suggestions ?

The need for labor unions would not exist but for massive abuse by big business, now aided and abetted by the US Supreme Court in Citizens United. That labor unions morphed into corrupt ineffectual power players is beside the point.

Abolish the IRS in its current form, and throw out the body of tax law, replacing it with something simple, fair, and comprehensible, as well as ironclad, without loopholes.

I do believe at one time long ago Unions served a purpose but the days of sweat shops are gone & labor laws are so strict it is near impossible to fire someone unless you build a case...you will pay

But that aside I feel the unions have basically helped price the USA out of being competitive in the world market.

They are corrupt as you say & pay a tiny fraction out of what they take in. All the while organizers who have little more than a high school education get 80-90k a year USD!

I know because my brother has been one for over 30 years. My father was also the president of a union for over 20.

I saw first hand how it works.

I do not think workers need them in reality & then there is the give us more $$$ or we will suck our thumbs & picket your business?

Usually at a time when the business is treading water only. Of course the Union will take 2% of that raise & not just what they got you for a raise but that which even you had before they arrived.

How can the US be competitive with threats & anchors such as these?

Contracts of pay raises for years to come of unknown business certainty? How is that possible & how will it work in a free market?

Does a union ever write in a clause that if the business takes a hit they will drop their pay or union dues?

The unions helped kill everything they touched....All just IMO of course.

But when I see my brother shop at Walmart I would say....<deleted> union man whats up with this?

He would reply he wants his dollar to go as far as possible.

Yeah don't we all?

Labor unions are not the answer to the problems...they are a large part of the problem.

+1

Thanks for the above. Yes I would expect tax to be deducted from fixed rate/term deposit accounts and that is normal, but that tax can be claimed back from the tax office. What is more of a slight mystery at this stage is two posters who claim to have tax deducted from regular savings accounts although there is no doubt a logical and simple answer.

Yes agreed & sometime today I will check my BKB fixed account as this has been the 1st month with that 2.62% 4 month account.

For some reason their site is slow right now but I will check later & report back.

As for regular savings like Ayudhya & SCB as well as my BKB reg savings....

I have never has tax deducted & recently had a few million in the regular BKB account.

I see that they gave me the interest but no tax & the interest was even at 0.75% reg savings rate a couple thousand baht for a month...no tax deducted

John1 I am curious is your tax taken out monthly or once a year?

Thanks

On this tax issue....Bangkok Bank does say this on page 8 under fixed rates in the attached brochure....

Bold & underline by me...

Fixed-term deposits

Make your money work for you with a Bangkok Bank fixed-deposit account. All you need is a minimum

deposit of Bt 2,000 to receive competitive rates for terms of 3 months or up to three years. Deposits to

fixed accounts may be made via Cash Deposit Machine, Internet Banking, ATM and Phone Banking. Tax is

automatically deducted from interest paid to customers.

plugin-bankingGuide_june-1.pdf

One of the key issues here which is somewhat separate from your reply is the issue of whether or not tax is deducted at source, according to your extract of the rules it appears it could be. But I guess that could simply be imprecise verbage, can I ask, was tax withheld from your interest payment, I personally maintain that interest is not deducted where the amount is under 20k per year?

Hi CM

No interest was not withheld....Same as my other accounts at Bangkok Bank & SCB

So that makes three banks Ayudhya, BKB & SCB

I have had SCB & BKB for 5 years with no tax withheld.

But.........I will also say I did not get over 20k interest in those accounts at anytime in the last five years.4I was not living full time

here during those years so never kept more than 10k USD here

Now that I have moved here full time I will easily exceed that 20k THB interest per year so I will keep an eye on it & see

if at that time they do ( I expect they will ) deduct interest

Hmm me thinks Finland ultimately will not be alone in this line of thinking...

But Finland could be a catalyst

The Euro Bombshell That Finland Just Dropped on Berlin and Madrid

Finance Minister, Jutta Urpilainen, said that Finland would be prepared to leave the Euro

rather than take responsibility for other countries debts and risks.......

.....Finland’s position throws the Euro problem wide open once more. It is perhaps the least expected of bombshells and by dropping it the Finns have told everybody involved, including the markets, that the Euro is not Germany’s to dictate.

I'm planning on going in and opening this 2.9% account tomorrow. I just wanted to double check -- i'm obviously not a savvy banker -- that they pay the interest daily (seems too good to be true in BKK)? I will have the funds in for a very short duration (maybe 2 months), so just didn't want to go through the trouble for nothing. Thanks for confirming.

This is from their June 5th 2012 attached Statement.... Page 7 Part 10...I added the bold on part 10.5

Also having just checked my account online I can confirm that I opened one of these accounts on 6/12 & see that on 6/28 my account was credited interest equal to

2.9% PA calculated on a daily breakdown & the amount deposited to my account was correct.

10 Savings Mee Tae Dai Deposit Account: Deposit terms

10.1 Eligible depositors are individual customers who open an account only under their name (joint accounts,

Account “for” or “by” are not permitted).

10.2 The minimum for the initial deposit is THB 500.

10.3 For depositing with a cheque, the deposit shall be considered as complete only after the cheque has been

cleared.

10.4 The interest rate and fees on this deposit is as per the Bank’s announcement.

10.5 The Bank shall calculate interests on a daily basis based on the remaining balance and shall deposit such

interests after deduction of withholding taxes to such account on the day before last working day of each

month.

10.6 The depositors shall be able to make the Withdrawal Transaction 2 times of each month with free of charge,

after that, the Withdrawal Transaction fee will be charged in the amount of 50 Baht per transaction given

that such fee will be deducted from the account in the next day.

10.7 Withdrawal Transaction means any withdrawal or fund transfer via all of the Bank’s channels which also

include automatic account deduction and the closing of account.

10.8 In the case where the remaining balance is less than the Withdrawal Transaction fee, the depositors shall

not be allowed to make any Withdrawal Transaction.

10.9 Depositors shall be able to close their account at the branch where the account has opened.

10.10 The calculation of the interest tax is as per the regulations / conditions of the Revenue Department.

10.11 The Bank reserves the right to change conditions or service procedures without any prior notice to

depositors.

Interest_728Deposit-01-06-2012.pdf