The THB - When does it end?!?

[Na Fan]

Since I've started working here, I have taken a hard TWENTY PERCENT loss in income, being paid in USD. It used to be 36-37, and now I don't even get 30 to the dollar anymore. All the while, local prices go up and up.

 

When does it end ??

[CharlieH]

MOVED to finance

[SteveK]

Thailand is a country governed by very rich and very greedy people. Why would they ever sanction any actions to reduce their personal wealth? If you had billions of baht in the bank then a 5% drop in the baht would seriously hurt your ability to go abroad and buy Rolexes and Bentleys. It's just pure personal greed, they couldn't give a rat's ass about the Thai people who are eking out a living.

 

They are essentially manipulating the country to keep themselves rich. Screw tourism, exports, GDP or any of that stuff. They don't care about that. They just care about how rich they are.

 

It's laughable to think that the baht is worth so much. It's just pure corruption and manipulation.

Edited December 23, 2019 by SteveK

[DaRoadrunner]

10 minutes ago, SteveK said:

Thailand is a country governed by very rich and very greedy people. Why would they ever sanction any actions to reduce their personal wealth? If you had billions of baht in the bank then a 5% drop in the baht would seriously hurt your ability to go abroad and buy Rolexes and Bentleys. It's just pure personal greed, they couldn't give a rat's ass about the Thai people who are eking out a living.

 

They are essentially manipulating the country to keep themselves rich. Screw tourism, exports, GDP or any of that stuff. They don't care about that. They just care about how rich they are.

Until they have finally bled the Govt coffers dry. Then they'll do a Gen Chavalit. Transfer all their ill gotten gains into US$, then crash the Baht, then transfer it back again. Double their money overnight.

[Kwasaki]

46 minutes ago, Na Fan said:

All the while, local prices go up and up.

And what would that be, most things for me are much the same price as 15 years ago and thanks that's good, maybe that's why the UK froze my govt pension. ????

[DaRoadrunner]

52 minutes ago, Na Fan said:

When does it end ??

When we finally give in and leave

[SteveK]

The Thai government is manipulating the value of the baht to make sure that certain people will end up with billions of baht by buying foreign investments when the baht is high then letting it fall, so that they can sell their investments at a huge profit. When the entire government is basically a bunch of good friends patting each others backs, what do you expect? Pure corruption. The country will never move forward but only backwards.

Edited December 23, 2019 by SteveK

[Ron jeremy]

28 minutes ago, Kwasaki said:

And what would that be, most things for me are much the same price as 15 years ago and thanks that's good, maybe that's why the UK froze my govt pension. ????

I find it rather funny, borderline hysterical that people still say that prices here have not risen in 15 years.

[poohy]

29 minutes ago, Kwasaki said:

And what would that be, most things for me are much the same price as 15 years ago and thanks that's good, maybe that's why the UK froze my govt pension. ????

Utter rubbish!

E.G. A tray of eggs was 73 THB now 90 THB plus  i can go on do you really live here

[Bullie]

It will end with Thailand sitting in the back of the bus, wondering where it all went wrong. They are killing the golden geese left, right and centre. Western tourists have been, and are stilling being maltreated on many levels until most people vote with their feet and don't return. Car- and other production platforms are being moved to surrounding countries. Lack of English skills are appalling, which makes Thailand an increasingly isolated island in a globalizing world.

In the end there will be nothing left to do but navel-gazing for most Thai, and that on an empty belly.

Edited December 23, 2019 by Bullie

[Traubert]

33 minutes ago, poohy said:

Utter rubbish!

E.G. A tray of eggs was 73 THB now 90 THB plus  i can go on do you really live here

Is that a tray of 18 eggs that have gone from 4baht each to 5baht each in 15 years?

 

Hold the front page!!!! ????

[Kwasaki]

32 minutes ago, Ron jeremy said:

 I find it rather funny, borderline hysterical that people still say that prices here have not risen in 15 years.

Depends what you call risen, don't just post say what has risen then out of proportion with a emerging country. !!!

My bills water, electric, gas are not a lot more.

If it's cheaper where you come from you you know what to do then. 

[Kwasaki]

12 minutes ago, Traubert said:

Is that a tray of 18 eggs that have gone from 4baht each to 5baht each in 15 years?

 

Hold the front page!!!! ????

Exactly what a load of old women on here.

[Kwasaki]

51 minutes ago, poohy said:

Utter rubbish!

E.G. A tray of eggs was 73 THB now 90 THB plus  i can go on do you really live here

So typical of a silly  example.

The way I see it is my council tax in my village province for the land our house is on is 8 baht a year, in the UK it was a bit more than that. ????

 

My electric bill has been constant pretty much for years in Thailand, same water and gas.

Diesel 14 baht 15 years ago now 27 baht, not bad me thinks.

And you go on about about eggs, our eggs cost nowt and chickens eat family food leftovers. 

 

 

[poohy]

8 minutes ago, Kwasaki said:

So typical of a silly  example.

The way I see it is my council tax in my village province for the land our house is on is 8 baht a year, in the UK it was a bit more than that. ????

 

My electric bill has been constant pretty much for years in Thailand, same water and gas.

Diesel 14 baht 15 years ago now 27 baht, not bad me thinks.

And you go on about about eggs, our eggs cost nowt and chickens eat family food leftovers. 

 

 

You silly boy!!!

Not in 15 years in less than 2  

If you do any shopping you realise prices (not only eggs) are increasing daily so has lecky 

i suggest you talk to a few thais and run the argument prices arent rising past them

 

Re eggs .... no i dont live in squalor surrounded by my own chickens eating my <deleted> ....then of course you eggs are cheap the neighbours must love ya

And yes i am considering spending 6 months here 6 months in UK a very civilised agreement i feel as it suits me well apart from missing my dogs but the mrs will take care of them but i can whatsapp them (oh i a suppose the mrs too)

[DaRoadrunner]

2 hours ago, SteveK said:

The country will never move forward but only backwards.

Puhleeese, this is Thailand, we call it progress in reverse.

[Gweiloman]

2 hours ago, DaRoadrunner said:

Until they have finally bled the Govt coffers dry. Then they'll do a Gen Chavalit. Transfer all their ill gotten gains into US$, then crash the Baht, then transfer it back again. Double their money overnight.

So I guess you will be doing the same? Sounds like now’s a good time to sell all your baht and to buy USD considering how weak the USD is now. 

[david555]

At this moment 1GBP = 38.97 baht by international exchange rate by Google talking , not the rate in Thailand …. it keeps sliding this 24 Dec. midnight  & 9 minutes

Edited December 23, 2019 by david555

[DaRoadrunner]

5 minutes ago, Gweiloman said:

So I guess you will be doing the same? Sounds like now’s a good time to sell all your baht and to buy USD considering how weak the USD is now. 

Shush, don’t tell everyone

[Kwasaki]

20 hours ago, poohy said:

You silly boy!!!

Not in 15 years in less than 2  

If you do any shopping you realise prices (not only eggs) are increasing daily so has lecky 

i suggest you talk to a few thais and run the argument prices arent rising past them

 

Re eggs .... no i dont live in squalor surrounded by my own chickens eating my <deleted> ....then of course you eggs are cheap the neighbours must love ya

And yes i am considering spending 6 months here 6 months in UK a very civilised agreement i feel as it suits me well apart from missing my dogs but the mrs will take care of them but i can whatsapp them (oh i a suppose the mrs too)

So sad I can see now your typical of many falangie people living here in your bubble, lots of people see it like you but we live in Thailand too there are different places in Thailand ya know. ????

Edited December 24, 2019 by Kwasaki

[poohy]

1 hour ago, Kwasaki said:

So sad I can see now your typical of many falangie people living here in your bubble, lots of people see it like you but we live in Thailand too there are different places in Thailand ya know. ????

Yes thats why i am splitting my time now extended  holiday destination not a retirement destination

Edited December 24, 2019 by poohy

[Chivas]

On 12/23/2019 at 2:36 PM, Kwasaki said:

And what would that be, most things for me are much the same price as 15 years ago and thanks that's good,

The Hawaii sun creme lotion I buy in 7/11 has been the same price since 1992. I'm not joking either.

As to the OP its not going to end. ....Others claims manipulation and corruption but quite simply foreign currency reserves continue to grow and currently are $230 billion and rising monthly, and the last time I checked that was 12th highest in the World

[mshs]

It ends when the interest-rate spread between the Greenback and the Kiwi narrows.

 

Time was when the Kiwi paid ~8%, now pays less than the almighty USD, and that killed the Uridashi long NZD/short JPY bonds.  Borrowing in the low-interest Yen and placing in the high-interest Kiwi.  As long as the Kiwi didn't weaken more than the spread (+costs), the Uridashi turned a profit.

 

The footloose Uridashi braves looked at the deluge of 2011 which brought sludge to farm-land-turned-auto-plants (and Siam's offer of subsidies, in the form of tax-holidays) as sign from Kami (Shinto) and piled into long THB/short JPY positions. 

The Thai economy is twice the size of the Kiwi economy and it's debt/GDP is 40%, compared to 30% Kiwi debt/GDP, which to the Uridashi means deeper and more-needy.

 

Current rates

Fed 1.75%

Nippon -0.1%

Kiwi 1%

Siam 1.25%

 

 

 

[scubascuba3]

Things will hit the fan eventually for this government, with all the factory closures and groups of tourists not coming, it's only a matter of time

Edited December 24, 2019 by scubascuba3

[colinneil]

On 12/23/2019 at 9:36 PM, Kwasaki said:

And what would that be, most things for me are much the same price as 15 years ago and thanks that's good, maybe that's why the UK froze my govt pension. ????

What you posted here is nonsense, go into any noodle shop, 10 years ago 20 baht, now 40/ 45 baht.

I buy dry dog food small bags because on my scooter i cannot carry large bags, 1 month ago 89 baht, last saturday 99 baht.

The coffee creamer i buy was in 1kg bags, now 900 gram, but still the same price.

Now i have given you 3 examples, but there are a lot more.

[baansgr]

On 12/23/2019 at 10:53 PM, Kwasaki said:

Depends what you call risen, don't just post say what has risen then out of proportion with a emerging country. !!!

My bills water, electric, gas are not a lot more.

If it's cheaper where you come from you you know what to do then. 

Yep, still only 12/13 baht for a chicken breast....fresh veg in the market 5 or 10 baht a bunch...I don't know where else you could cook a healthy meal for 4 people at a cost of 50 baht or less....daily essentials have hardly risen as you say.

[jastheace]

On 12/23/2019 at 4:57 PM, DaRoadrunner said:

Puhleeese, this is Thailand, we call it progress in reverse.

ssergorp. progress in reverse. the new thai mantra. TAT can have that one for free.

[jastheace]

9 hours ago, Chivas said:

// foreign currency reserves continue to grow and currently are $230 billion and rising monthly, and the last time I checked that was 12th highest in the World

Iran was close to that also. i wouldn't worry about those figures

[Christie Paul]

To understand why the Baht has appreciated is actually simple.

 

Most countries (even tax havens) are now fully compliant with CRS/OECD tax reporting and sharing. 

 

Two countries in particular are absent, the US and Thailand. 

 

The demand for Baht has thus skyrocketed as high net worth individuals and corporation choose financial vehicles under Thai jurisdiction to avoid CRS.

 

  

 

 

 

 

 

 

 

  

[topt]

5 minutes ago, Christie Paul said:

The demand for Baht has thus skyrocketed as high net worth individuals and corporation choose financial vehicles under Thai jurisdiction to avoid CRS.

You have any reference's for this (stats on money moved) as otherwise I am shaking my head in disbelief........