Govt launching measure to tame wild baht

By THE NATION

 

 

Prime Minister Prayut Chan-o-cha said on Tuesday (December 24) that all related state agencies convened yesterday to seek ways to tame the strengthening baht.

 

Baht to remain strong: Kasikorn Research Centre

 

He said the measure is expected to be launched soon.

 

The government has expected the economy to improve in the first quarter next year after its launch of short-term, medium-term and long-term stimulus packages.

 

Prayut added that the government has prepared a host of measures to cope with employee layoffs at some companies and shutdowns at others.

 

Source: https://www.nationthailand.com/business/30379804

 

-- © Copyright The Nation Thailand 2019-12-25

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1 hour ago, webfact said:

Prime Minister Prayut Chan-o-cha said on Tuesday (December 24) that all related state agencies convened yesterday to seek ways to tame the strengthening baht.

'seek ways to tame the strengthening baht':

Further to BigBadGeordie's post above regarding horses and committees, I wouldn't be surprised to soon be reading surreal suggestions of employing a lion tamer and perhaps the CEO of Italian Thai, due to his experience with shooting wild animals.

So far what I’ve seen is

ALOT OF HOT AIR !! and Brown Envelopes getting FATTER !!

Meanwhile the reality of honest working hard Thai People’s lively hoods being destroyed !!  

Tell me about it, the USD TT rate stand at 30.40 baht to 1 usd, this is a fantastic rate and good for those who convert THB to USD...

1 hour ago, bluesofa said:

'seek ways to tame the strengthening baht':

Further to BigBadGeordie's post above regarding horses and committees, I wouldn't be surprised to soon be reading surreal suggestions of employing a lion tamer and perhaps the CEO of Italian Thai, due to his experience with shooting wild animals.

... and a ceremony with Chavalit's wife doing a dance and acts to tame the evil Baht expanding demons, with 1,000 dead chickens but only after the privileged* ones have bought lots of other currencies while they only need minimum Baht to buy.

*It's their entitlement...

1 hour ago, ezzra said:

Tell me about it, the USD TT rate stand at 30.40 baht to 1 usd, this is a fantastic rate and good for those who convert THB to USD...

Not a great deal fOr Yanks to complain about with a rate like that ????????

The “Thaitanic”... break out the life rafts! 

https://www.bloomberg.com/news/articles/2019-12-22/thai-baht-asia-s-best-performing-currency-faces-reversal

4 hours ago, webfact said:

He said the measure is expected to be launched soon.

Translation : They would wait for it to go down on its own and take the credit by making up some fanciful policy in retrospect

2 hours ago, ezzra said:

Tell me about it, the USD TT rate stand at 30.40 baht to 1 usd, this is a fantastic rate and good for those who convert THB to USD...

Which many in the Inner Circle are no doubt doing.

The cooks dog could have made a more interesting announcement. He must resign he has no idea of government or economics.

7 minutes ago, RichardColeman said:

Translation : They would wait for it to go down on its own and take the credit by making up some fanciful policy in retrospect

Nah!! They know the sh.t is going to hit the fan soon because of their economy so they are preparing to take the praise!!????????????????????

Prayut added that the government has prepared a host of measures to cope with employee layoffs at some companies and shutdowns at others.

 

THE MEASURES

 

1)   Look the other way

2)   Deny the problem is serious

3)   Propagate fake news that there are more new factories opening than old ones closing

4)   Encourage the unemployed to spend spend spend.

5)   Silence government critics

6)   Discourage tourists but expect more to come.

7)    Ban opposing political parties on trumped up charges.

 

 

 

 

 

 

 

 

Edited December 25, 20196 yr by Denim

Translated headline:-

We have made our billions over the last few years with an artificially inflated Baht that we instigated.

Now we are getting flak from China and possibly U.S. about currency manipulation so we will adjust the Baht accordingly soon.

We would like to take this opportunity to thank the good people of Thailand for allowing us to drain the countries resources while we invest billions overseas in our private bank accounts.

 

i am boycotting the baht. spend my money elsewhere.

Ha ha ha, pretty funny! I remember a few years back when Thai businesses started complaining they couldn't make money exporting goods any more because the baht was getting too strong. The Thai govt assured everybody they could maintain the baht at around 36-1 USD....we see how that worked out.

And, likely just as ineffective as their past efforts.  

5 hours ago, webfact said:

Prayut added that the government has prepared a host of measures to cope with employee layoffs at some companies and shutdowns at others.

He's had 5 years to prepare measures that should have boosted the economy so that companies wouldn't have to lay-off or shut down.
The state of the economy is down to him and his side-kicks achieving zero for the working Thai during his reign in power.

If it continues in a downward trend during 2020 he's going to have to come up with some real plans not gimmick stimuli.

Just DO IT!!!! Stop talking about it.????

currency is too strong, but nobody can do anything.

I got it! How to save the economy...charge farangs 20x Thai rates instead of the current 10x...that'll fix it! ????

Mazda sounded the alarm yesterday and Japan has put up with a great deal since the last great flood of Bangkok.

1 hour ago, AhFarangJa said:

Translated headline:-

We have made our billions over the last few years with an artificially inflated Baht that we instigated.

Now we are getting flak from China and possibly U.S. about currency manipulation so we will adjust the Baht accordingly soon.

We would like to take this opportunity to thank the good people of Thailand for allowing us to drain the countries resources while we invest billions overseas in our private bank accounts.

 

China hasn't said a word. The CNY is pegged to the dollar also.

21 minutes ago, kevin612 said:

currency is too strong, but nobody can do anything.

In fact they can. If America would remove the threat of currency manipulation, Thailand could adjust the Baht as they see fit. Currently they can't.

When the £ is worth Thb 55+  again, I’ll be happy....

All governments are helpless in the face of the economic reality of the market.

2 minutes ago, Jaxxper said:

When the £ is worth Thb 55+  again, I’ll be happy....

Bet your life they will put min requirements up when it does

53 minutes ago, hotchilli said:

He's had 5 years to prepare measures that should have boosted the economy so that companies wouldn't have to lay-off or shut down.
The state of the economy is down to him and his side-kicks achieving zero for the working Thai during his reign in power.

If it continues in a downward trend during 2020 he's going to have to come up with some real plans not gimmick stimuli.

But first you have to have an inkling of economic understanding and a realisation that a functioning education system for the modern world is essential  before meaningful plans can be formed. How much of that do you think he has?

Edited December 25, 20196 yr by nchuckle
Spelling

Isn’t going to happen unless the state wants to print loads of money and weaken their currency like the other countries central banks. This would have the effect of reducing the value of the wealthiest Thais savings - not popular unless there’s some kind of makeup backhander.