Central bank gets 10kg of gold to boost reserves

By THE NATION

 

 

The central bank on Tuesday (August 11) accepted 10 kilograms of gold donated by the public to help boost the country’s reserves in a merit-making ceremony held in honour of late Ajahn Maha Bua, one of the most famous teachers of the Thai Forest Tradition of Theravada Buddhism.

 

Before his passing on January 30, 2011, the monk had called on his followers to raise funds to support the country.

 

Since then, such 25 such merit-making ceremonies have been held and the country has been given more than 13 tonnes of gold and US$10.5 million (Bt326 million) in cash.

 

Veerathai Santiprabhob, governor of the Bank of Thailand, accepted the latest donation from the abbot of Wat Pa Sattha Thawai in Udon Thani province.

 

As of 4.59pm, the price of gold bars stood at Bt29,250 per baht weight for selling and Bt29,150 for buying, while the selling price of gold ornaments was Bt29,750 per baht weight, and buying price Bt28,622.08.

 

Source: https://www.nationthailand.com/news/30392819?utm_source=category&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-08-11

 

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Well whose pockets should we check now, Baggy pants and full pockets with plenty of watches.

 

Just how is this going to help the country?

23 minutes ago, ThailandRyan said:

Just how is this going to help the country?

 

1 hour ago, snoop1130 said:

the country has been given more than 13 tonnes of gold

The missing line at the end being, "by the gullible public."

Work that out at the current per Baht weight and a country that didn't need the donations, took them anyway, then kept the coffers close to closed when the country entered hardship with millions suffering.

Probably should have kept it closer to home to assist when things got tough. People need food and jobs more than the Governments top dogs need watches and bling.

"the country has been given more than 13 tonnes of gold and US$10.5 million (Bt326 million) in cash"  To my mind it's an absolute absurdity!  The monks could help so many people with that stash...but instead it's gone as down payment on a submarine, army tanks and lord Buddha only knows what else!

10KG of gold would be worth 19,451,950 baht... https://www.goldrate24.com/gold-prices/asia/thailand/kilogram/24K/ 

 

 

2 hours ago, ThailandRyan said:

Well whose pockets should we check now, Baggy pants and full pockets with plenty of watches.

Just how is this going to help the country?

I think sadly it's more likely to help those helping themselves - to the gold.

8 hours ago, darksidedog said:

Probably should have kept it closer to home to assist when things got tough. People need food and jobs more than the Governments top dogs need watches and bling.

Yes but watches and bling for the gang of cronies is far more important than feeding the peasants.????

10 hours ago, snoop1130 said:

Before his passing on January 30, 2011, the monk had called on his followers to raise funds to support the country.

Now I understand. First, the followers have to buy gold before they donate their purchases to the country. It all makes sense now...

 

7 hours ago, Forza2002 said:

10KG of gold would be worth 19,451,950 baht... https://www.goldrate24.com/gold-prices/asia/thailand/kilogram/24K/ 

 

 

I'd work out the figure for 13000kg of gold on that basis but my calculator doesn't have enough digits...

seems to me that we are talking about 3 billion baht in total, that could have gone to helping the people. That´s a worse scam than 1MDB.

25 minutes ago, Matzzon said:

seems to me that we are talking about 3 billion baht in total, that could have gone to helping the people. That´s a worse scam than 1MDB.

If 10kg is about 20m Bt, 1300 times that is about 26 billion. 13 tonnes = 13000kg

Totally misguided philanthropy. The country has bulging international reserves from years of current account surpluses. These donations are immaterial to the central bank’s position but could make a huge difference to some of the nation’s needy.

Old toad face must be eyeing up the latest Patek Philipe or Audemars Piguet this morning...........

one more confirmation for me never donate 1 baht to this Ajahn guys

13 hours ago, snoop1130 said:

Since then, such 25 such merit-making ceremonies have been held and the country has been given more than 13 tonnes of gold and US$10.5 million (Bt326 million) in cash.

I wonder where the 13 tonnes of gold ended up?

14 minutes ago, hotchilli said:

I wonder where the 13 tonnes of gold ended up?

Well definitely not back into the pockets of those that need it most.  When I lived in the Village and went to the temple regularly with the now ex-wife, many of those who could barely afford to feed themselves were ones who were always donating to the monks and the temple.  It amazes me that in times of need I have never observed the Wats or Temples giving back to there local people who need the help.  Instead I have observed the Phu Yai, who was my father in-law, taking up collections from those who could afford it and then taking the families shopping to buy food and some clothes.  The churches in the US regularly have programs to help the less fortunate, and have a food giveaway, and a clothes' closet where donated items can be obtained free.  I know there are programs here that do aim to help, but then why would the Government take the money and not give it out through programs.  One word says it all, Greed.  I saw a Monk wearing robes and driving a Mercedes E class just yesterday on Rama 4 Rd.  So tell me now how these monks stick to the basic tenants and precepts.

I wish the population would not be so blind sighted and trusting.

 

Any Religion is a tool that has been used over the centuries to manipulate people for the benefit of a selected few.

2 hours ago, mrfill said:

If 10kg is about 20m Bt, 1300 times that is about 26 billion. 13 tonnes = 13000kg

Correct, you are right. Only make it worse though.

poor people brainwashed in giving the little they have to ...

15 hours ago, snoop1130 said:

Since then, such 25 such merit-making ceremonies have been held and the country has been given more than 13 tonnes of gold and US$10.5 million (Bt326 million) in cash.

The Generals thank you three times.

16 hours ago, snoop1130 said:

Central bank gets 10kg of gold to boost reserves

And Who's going to get his Greedy Mittens on The Gold? 

 

There you go ,this just Proves that Religion is a Believe for Fools /Scam /Rip off/ Power Trip. 

And they (The peasants) just keep on Believing and Giving away their Hard earned Money. 

It's the Same with Any Religion in Any Country.

4 hours ago, mrfill said:

If 10kg is about 20m Bt, 1300 times that is about 26 billion. 13 tonnes = 13000kg

26 billion baht divided with a population of 70 million – i.e. 26,000,000,000 / 70,000,000 – equals 371.50 baht for each; i.e. about 500 baht to some 52 million people if the super rich and the rich are excluded...????

3 hours ago, hotchilli said:

I wonder where the 13 tonnes of gold ended up?

I am sure some Thai's would favour Switzerland to stash the ill gotten gains...besides it's just over the border to Austria.

10kg =  While China and Russia continue to buy tons on a regular basis.

I hope the central  bank reciprocates when it makes merit I am sure the population would love a reduction on their loan rates.

"we're gonna need a bigger boat."

 

5 hours ago, Dap said:

10kg =  While China and Russia continue to buy tons on a regular basis.

 Well Putiny  and Winnie 

Far more important than helping poor Thais in need.