When will Thai Baht get back to reality

[Franko666]

3 hours ago, 2008bangkok said:

Funny I was just looking at the last 30 yrs this morning, in the 90s it was as lows as 36 to the gbp then shot up to 90 settled at 70s and sliding ever since. So what is the actual real rate it should be.

The real rate is the rate you can get on the day, no more no less.

 

[Lacessit]

It's fairly obvious the car market here is rigged. When a Mitsubishi Triton manufactured here costs 20% less when it lands in Australia, it should not come as any surprise the baht is rigged as well. The question is cui bono?

[StevieAus]

20 hours ago, ELVIS123456 said:

Yeh - anything around 28-30 Baht to the AUD would be nice too (and normal).  I guess it will eventually change back.  But I just cannot understand that the currency of a 3rd world country that is being run by a military junta, can run the course that it currently is running.  Is the US doing soemthing to prop them up, and create an economic buffer against China?? It has to be something along those lines to last for so long, because it aint due to the normal economic and interest rate cycles.

 

 

I would certainly vote for that exchange rate the way things are at the moment 26 even looks good !!

I seem to recall reading in the Australian newspaper that the US were going to look at alleged currency manipulation by the Thai government.

[ELVIS123456]

I came across this article - and it supports my case that Thailand's currency aint valid.  Despite what many have said, I believe that the 'powers that be' are more interested in being able to buy imports, than in getting money for exports. I can only assume the massive increase in Choinese Tourism, despite the slide of the Yuan against the Baht, is keeping this approach valid. The charts cannot be copied - but Thailand is in the top 4-6 in all the 'manipulator' charts detailed on the website.

https://qz.com/1246588/the-biggest-currency-manipulators-of-2017-in-charts/

Currency manipulation is indeed a problem, and has cost the US countless jobs. But Trump, it turns out, had fingered the wrong perp. He should have been railing not against China—but against Singapore and Switzerland.

That’s based on new research by Joseph Gagnon and Tessa Morrison, economists at the Peterson Institute for International Economics.

“Although down from its peak about a decade ago, currency manipulation continues to occur,” they wrote. “In recent years the largest manipulators have been Singapore and Switzerland, with average annual purchases in 2016 and 2017 of about $90 billion and $80 billion, respectively.”

Taiwan and Israel are also consistent manipulators of late, with Korea, Sweden, Thailand, and Japan potential candidates as well.

 

Edited May 9, 2018 by ELVIS123456

[observer90210]

Maybe there is also pressure from the west towards Thailand to keep the THB high ? A country with low value currency gets to competitive on the trade markets that perhaps irritates the superpowers ?

 

Us foreigners living in Thailand would love a honest deal that would be to get 40 THB for 1 US$ !!!!...but unfortunately, it's not yet Christmas Day for the moment !!

[HHTel]

After all the derogatory comments about Thaksin, it's worth a mention that after the IMF bailed out Thailand with one of the biggest 'bail-outs' in recent years.  Billions of dollars!  Yet under Thaksin, the loan was paid back well ahead of schedule.  Thailand is not a poor country as has been proven.

[Ks45672]

1 hour ago, Lacessit said:

It's fairly obvious the car market here is rigged. When a Mitsubishi Triton manufactured here costs 20% less when it lands in Australia, it should not come as any surprise the baht is rigged as well. The question is cui bono?

Buy a dmax

[helloagain]

Dear Elvis 123456. In my 14 years at best i was getting 74.9 baht to £1 sterling now it 42.9 what you are loosing is peanuts cos im loosing well over 40% . 

[Unsane]

Just now, helloagain said:

Dear Elvis 123456. In my 14 years at best i was getting 74.9 baht to £1 sterling now it 42.9 what you are loosing is peanuts cos im loosing well over 40% . 

You're not losing anything, dear helloagain.  This is the market and rates my go up or they may go down and nothing is promised or guaranteed.  Please factor in inflation to your calculations, if you have any.

[simoh1490]

5 hours ago, RobFord said:

The baht is tied to a basket of currencies dominated by the US dollar, and to the value of it’s foreign reserves ( do an online search ).

What do you think would happen to the baht if Thailand burnt through all its US$ and could no longer trade using that currency? Obviously it would tank.

The stability of the Thai baht is based upon its ( largely US ) foreign reserves, and when the the value of those reserves depreciate so does the value of the baht. 

I experienced it directly during the 2008 crisis when the baht and US$ devalued against the Canadian dollar. 

 

 

Rubbish and nonsense!

 

In what way is the Thai Baht tied to the value of the currencies contained in its foreign currency reserves?

 

...and,

 

In what currency do you think Thailands foreign currency reserves are held?

 

 

 

 

[metisdead]

An off topic post has been removed. 

[Krataiboy]

Don't the numbers speak for themselves? In 2017 the UK economy grew by 1.7 percent, its lowest rate since 2012, Thailand's GDP is expected to grow by 4.0 perdcent in 2018 and by 4.1 per cent in 2019.

 

We all know how deeply in debt the UK and so many EU countries are - not to mention the US. The situation is totally different in the East, which is rising again out of the ashes of the 2008 financial crisis far healthier than its Western equivalents.

If I had any money to invest, I know where I would put it - in those resurgent tigers.

Edited May 9, 2018 by Krataiboy

[Unsane]

2 minutes ago, Krataiboy said:

If I had any money to invest, I know where I would put it - in those resurgent tigers.

There's loads of bars for sale in Patts.  

[Advocate]

Those posters who are accusing the Thai government of manipulating its currency to higher values than they expect are wrong. They evidently don't understand why currencies are manipulated.

 

Currency manipulation usually works the other way when the currency is artificially held at lower values than justified by the balance of payments in order to boost exports and inhibit imports.

 

 

In recent history, the only government to hold its currency above free market values was the British government. They were defeated by George Soros who made ~ 1.4 billion dollars from speculating on the GBP and the British government lost GBP 27 billion trying to support an over-valued GBP before they were forced to devalue as other speculators started to follow George Soros betting against the GBP.

 

https://priceonomics.com/the-trade-of-the-century-when-george-soros-broke/

[Krataiboy]

42 minutes ago, Advocate said:

Those posters who are accusing the Thai government of manipulating its currency to higher values than they expect are wrong. They evidently don't understand why currencies are manipulated.

 

Currency manipulation usually works the other way when the currency is artificially held at lower values than justified by the balance of payments in order to boost exports and inhibit imports.

 

 

In recent history, the only government to hold its currency above free market values was the British government. They were defeated by George Soros who made ~ 1.4 billion dollars from speculating on the GBP and the British government lost GBP 27 billion trying to support an over-valued GBP before they were forced to devalue as other speculators started to follow George Soros betting against the GBP.

 

https://priceonomics.com/the-trade-of-the-century-when-george-soros-broke/

Soros denied trashing the baht a couple of decades ago and went on to become the world's most famous philanthropist, giving away most of his money to worthy causes we wouldn't all necessary support - like, currently, trying to reverse the UK's decision to leave the EU. 

 

Oddly for arguably the world's most successful capitalist, he donates most of his billions to organisations which backing radical left-wing causes and politicians.

[lannarebirth]

13 hours ago, RobFord said:

 

The US dollar goes down and the baht promptly follows. 

 

Thanks for that. It helps give me some insight into how I should regard your posts in the World News forum.

[samsensam]

8 hours ago, helloagain said:

Dear Elvis 123456. In my 14 years at best i was getting 74.9 baht to £1 sterling now it 42.9 what you are loosing is peanuts cos im loosing well over 40% . 

 

you're not losing anything, currency markets fluctuate. the rate you get on any day is the correct rate at that time, you're not winning or losing. unless you're a currency speculator, which from your post doesn't sound likely.

[poanoi]

dont get stuck on a specific number:

i was waiting on my currency to reach iirc 5.9 vs thai baht,

it went to 5.88, i was going to wait on 5.9 before i brought over everything i had,

welp, never happened, i have lost hundreds of thousands on that waiting,

and now i'm not even trying to save a buck

[5633572526]

The current illegitimate government is trying to become legitimate through elections that are being set up in their favor in my opinion.

anything negative to the Thai economy and that would diminish the assets of those with money and influence must be avoided 

[wolf81]

11 hours ago, Krataiboy said:

Soros denied trashing the baht a couple of decades ago and went on to become the world's most famous philanthropist, giving away most of his money to worthy causes we wouldn't all necessary support - like, currently, trying to reverse the UK's decision to leave the EU. 

 

Oddly for arguably the world's most successful capitalist, he donates most of his billions to organisations which backing radical left-wing causes and politicians.

George Soros is a very dangerous man, hardly a philanthropist. For whatever reasons unclear to me he’s trying to destroy Europe through his NGO’s by advocating for mass immigration of Islamic and African countries. Most immigrants will never work, yet still they will receive benefits (housing, monthly income, etc…). The tax burdens on the working populace will increase and/or the welfare state will be stripped. At some point people will become very angry.

 

It will end in civil war in a few years. 

 

P.S.: many extremely rich people (Bill Gates, The Clinton’s, etc...) have their own foundations. Its a very effective way to secure perpetual inheritance for their children and it’s a great way to avoid taxes as well. The idea is that most money in spent in stock and a few percent each year is spent on some “good” causes and to pay the employees / directors of the foundation, often closely related family members. Donations to foundations can often be done tax free.

Edited May 10, 2018 by wolf81

[Brunolem]

23 hours ago, poanoi said:

actually the northern countries of EU is doing well,

but the southern pigs are dragging it down

That's because of the euro!

Countries like Germany or the Netherlands are taking advantage of a currency much weaker than their own old DM or FL would be today, while countries like Italy or Portugal are struggling with a currency that is way too strong for them.

 

How long will Draghi be able to keep this house of cards standing remains to be seen...

[Brunolem]

21 hours ago, Psimbo said:

I never realised that was a nationality! 

Neither is Arab...

[poanoi]

3 minutes ago, Brunolem said:

That's because of the euro!

Countries like Germany or the Netherlands are taking advantage of a currency much weaker than their own old DM or FL would be today, while countries like Italy or Portugal are struggling with a currency that is way too strong for them.

 

How long will Draghi be able to keep this house of cards standing remains to be seen...

you have a good point there, competitive and noncompetitive parts of EU should 

have been kept separate

[Brunolem]

21 hours ago, FritsSikkink said:

The UK has a record debt at the moment.

The UK is not part of the EU, but of the Middle East...

[timkeen08]

I did my annual extension application this week using my US income affidavit.  I paid less than $65 for the application fee and get a one year's extension of stay.  Cheap regardless of exchange rate fluxuations or even if the application fee doubles.

 

The IO calculated my actual documented income using a 35 baht rate, the same rate used the last few years.  I have enough income to meet the minimum even if that exchange calculation goes down to 10 baht and the minimum requirement doubles at the same time.

 

Being able to stay in Thailand with my wife and the upkeep of our home is my first financial concern.  Everything else is touring, spending fun money, and enjoying retirement.

 

I look at but don't rely on Thai baht fluctuations.  I don't care or worry about things I have no hand in changing.  I never have.

 

I use TransferWise for my monthyl transfers because I never transfer the whole amount of my income.  We have money available if needed.

[Brunolem]

20 hours ago, Advocate said:

 

The downward trajectory of the British economy and the GBP will make eventual parity between the GBP and the THB a possibility.

 

 

Indeed!

 

What is left of the British economy is a cesspool of white collar criminals in the City, and a bunch of criminal oligarchs such as Abramovich bringing their stollen wealth with them.

 

And of course, there is Whisky...and porridge...

[Brunolem]

12 hours ago, Advocate said:

 

Currency manipulation usually works the other way when the currency is artificially held at lower values than justified by the balance of payments in order to boost exports and inhibit imports.

True!

Especially in these days when every country is trying to trash its currency (except Mexico and Turkey).

The incontested champion in currency manipulation is Switzerland, which has become a huge hedge fund.

[Brunolem]

36 minutes ago, wolf81 said:

George Soros is a very dangerous man, hardly a philanthropist. For whatever reasons unclear to me he’s trying to destroy Europe through his NGO’s by advocating for mass immigration of Islamic and African countries. Most immigrants will never work, yet still they will receive benefits (housing, monthly income, etc…). The tax burdens on the working populace will increase and/or the welfare state will be stripped. At some point people will become very angry.

 

It will end in civil war in a few years. 

 

P.S.: many extremely rich people (Bill Gates, The Clinton’s, etc...) have their own foundations. Its a very effective way to secure perpetual inheritance for their children and it’s a great way to avoid taxes as well. The idea is that most money in spent in stock and a few percent each year is spent on some “good” causes and to pay the employees / directors of the foundation, often closely related family members. Donations to foundations can often be done tax free.

Soros, like the bureaucrats in Brussels, is a hard core globalist!

What these people want is a "one world, one government, one culture, one currency" that would represent their own version of nirvana.

A world with two castes, the 0.01% haves and the rest, a large mass of cheap and disposable workers, enslaved by debt.

Many countries, starting with the US, are well on this way.

The problem is that some countries, such as Russia and China, are resisting this project, hence the pressure they are getting...

[Krataiboy]

2 hours ago, wolf81 said:

George Soros is a very dangerous man, hardly a philanthropist. For whatever reasons unclear to me he’s trying to destroy Europe through his NGO’s by advocating for mass immigration of Islamic and African countries. Most immigrants will never work, yet still they will receive benefits (housing, monthly income, etc…). The tax burdens on the working populace will increase and/or the welfare state will be stripped. At some point people will become very angry.

 

It will end in civil war in a few years. 

 

P.S.: many extremely rich people (Bill Gates, The Clinton’s, etc...) have their own foundations. Its a very effective way to secure perpetual inheritance for their children and it’s a great way to avoid taxes as well. The idea is that most money in spent in stock and a few percent each year is spent on some “good” causes and to pay the employees / directors of the foundation, often closely related family members. Donations to foundations can often be done tax free.

I have no illusions about the motivations of any of these people. I should, of course, have put the word "philantropist" in quotation marks first time around.

[simoh1490]

2 hours ago, Brunolem said:

Soros, like the bureaucrats in Brussels, is a hard core globalist!

What these people want is a "one world, one government, one culture, one currency" that would represent their own version of nirvana.

A world with two castes, the 0.01% haves and the rest, a large mass of cheap and disposable workers, enslaved by debt.

Many countries, starting with the US, are well on this way.

The problem is that some countries, such as Russia and China, are resisting this project, hence the pressure they are getting...

And this has what to do with the value of the Baht or the price of beef!