kingdong Posted August 31, 2020 Share Posted August 31, 2020 3 hours ago, baansgr said: That's not even 2 years of foreign aid...why not stop that nonsense....add on the 4 billion just spent on contracts for housing asylum seekers, not to mention the 10s of billions keeping them....could easily get through this mess if got priorities right....I don't see what help yoga classes in Nepal are to the economy. whatever you do,don,t go into politics,you talk too much sense,you wouldn't last 5 minutes. Link to comment Share on other sites More sharing options...
kingdong Posted August 31, 2020 Share Posted August 31, 2020 2 hours ago, shackleton said: If any one is hoping for the Pound sterling to strengthen against the Thai Baht ie the days of 50 plus is going to be most unhappy Cant see it happening if anything more chance of it going lower as we get closer to Brexit once we're out the eu,the pound will rise as the eu tears itself apart before collapsing,70baht= £1.soon 1 Link to comment Share on other sites More sharing options...
Chivas Posted August 31, 2020 Share Posted August 31, 2020 49 minutes ago, Max69xl said: That's not true, but Thailand have quite a lot of foreign currency stashed away. Economy-wise it's maybe the worst period in modern times. "Quite a lot" lol....I dont think theres an appropriate Emoji for that ! Their Foreign Currency Reserves are simply staggering and are continuing to grow at an unprecendented rate. Be under no illusion tourists are of little importance in the grand scheme of things. Sure they'll be happy to accept them again at some point but the economy is doing perfectly well without them Link to comment Share on other sites More sharing options...
DaweiBeach Posted August 31, 2020 Author Share Posted August 31, 2020 (edited) 6 hours ago, Chivas said: "Quite a lot" lol....I dont think theres an appropriate Emoji for that ! Their Foreign Currency Reserves are simply staggering and are continuing to grow at an unprecendented rate. Be under no illusion tourists are of little importance in the grand scheme of things. Sure they'll be happy to accept them again at some point but the economy is doing perfectly well without them How is the economy doing well? They just reported the biggest recession since 22 years. https://asia.nikkei.com/Economy/Thailand-Q2-GDP-contracts-12.2-amid-COVID-induced-recession "Gross domestic product shrank 12.2% in the second quarter compared to the same period the previous year, the Office of the National Economic and Social Development Council, the kingdom's economic planning agency, announced on Monday. It is the biggest contraction since 1998 when Thailand posted a 12.5% contraction recorded in the second quarter because of the Asian Financial Crisis." Edited August 31, 2020 by DaweiBeach Link to comment Share on other sites More sharing options...
DaweiBeach Posted August 31, 2020 Author Share Posted August 31, 2020 (edited) 11 hours ago, tomazbodner said: What would "lost much value" compared to EUR be for you? 1 year, from 33 to 37.... During the last big political crisis in 2014 the Baht slipped to 45 TBH to 1 Euro. We are still far away from those levels even though the situation in Thailand could soon become MUCH worse with unprecedended economical fallout + new political instability. Meanwhile the economies in the EU and the UK are already recovering and things are pretty much back to normal for now. I wouldn't bet on the USD to THB rates but my bet is that the GBP and Euro will strength considerably against the Baht. I don't see how Thailand is not headed for a major crisis. Edited August 31, 2020 by DaweiBeach Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted August 31, 2020 Popular Post Share Posted August 31, 2020 12 hours ago, allanos said: It is not Baht strength so much, as US Dollar weakness. If the dollar's slide continues, which, in my opinion it will, based on the coming inflationary aspect from all of the Fed money-printing which has taken place, and which is likely to continue until after the November elections, then the Baht should strengthen slightly more than at present. I suggest all Americans transfer money quickly as if Trump loses the election I think the dollar will plummet. People may not like Trump but he's mostly a business man, Biden on the other hand ..... 1 2 Link to comment Share on other sites More sharing options...
Brunolem Posted August 31, 2020 Share Posted August 31, 2020 2 hours ago, RichardColeman said: People may not like Trump but he's mostly a business man, Biden on the other hand ..... ...is a basement man... The fact is that countries like Thailand are in a much better position to absorb major economic shocks than the developed/socialist countries with their high maintenance populations and their extremely costly social programs. While the US has been sending $ 1,500 checks and paying an extra $ 600 a week to its millions of unemployed, Thailand has only made three payments of 5,000 baht, altogether approximately $ 500. Most unemployed have gone back to their villages, like the one where I live, and have somehow managed to reintegrate themselves and survive on the cheap. Link to comment Share on other sites More sharing options...
baansgr Posted August 31, 2020 Share Posted August 31, 2020 12 hours ago, farangkinok said: Why blame Reagan? Nixon ended the convertibility of U.S. dollars to gold in 1971, long before Reagan was elected. Old Ronnie has to be one of the best most charasmatic Presidents ever..loved his speeches. Link to comment Share on other sites More sharing options...
shy coconut Posted August 31, 2020 Share Posted August 31, 2020 14 hours ago, baansgr said: That's not even 2 years of foreign aid...why not stop that nonsense....add on the 4 billion just spent on contracts for housing asylum seekers, not to mention the 10s of billions keeping them....could easily get through this mess if got priorities right....I don't see what help yoga classes in Nepal are to the economy. Do you have any credible links to those asylum figures? I had a quick look around the interweb and saw a couple of outraged articles in the express stating that the bill to look after the asylum seekers in the UK was around £365 million per annum, and that apparently came out of the foreign aid kitty, as I said it was the express so accuracy and credibility would be lacking. The 30 billion for foreign aid sounds about right as we are committed to 0.7% of the economy or GDP which was around £13.5 billion a couple of years back, but given the current state of the economy will be rather less. Couldn't see any links to how much a Nepalese yoga teacher is getting paid. 1 Link to comment Share on other sites More sharing options...
Popular Post shy coconut Posted August 31, 2020 Popular Post Share Posted August 31, 2020 3 hours ago, RichardColeman said: I suggest all Americans transfer money quickly as if Trump loses the election I think the dollar will plummet. People may not like Trump but he's mostly a business man, Biden on the other hand ..... Have you not heard about the trail of bankruptcies that have followed trump through his disastrous business career? He has incredible lawyers and accountants who have managed to look after his personal wealth, whilst a string of companies including airlines, ca and soft drinks companies have failed owing billions of dollars. I have no idea what Joe Biden has achieved in his business life, but to claim that trump is some kind of entrepreneurial genius is ridiculous. 3 Link to comment Share on other sites More sharing options...
kingdong Posted August 31, 2020 Share Posted August 31, 2020 47 minutes ago, Brunolem said: ...is a basement man... The fact is that countries like Thailand are in a much better position to absorb major economic shocks than the developed/socialist countries with their high maintenance populations and their extremely costly social programs. While the US has been sending $ 1,500 checks and paying an extra $ 600 a week to its millions of unemployed, Thailand has only made three payments of 5,000 baht, altogether approximately $ 500. Most unemployed have gone back to their villages, like the one where I live, and have somehow managed to reintegrate themselves and survive on the cheap. good,wont have lairy bar girls trying to take the proverbial with their prices when i decide to return. Link to comment Share on other sites More sharing options...
Mazzza33 Posted September 1, 2020 Share Posted September 1, 2020 17 hours ago, rumak said: Rumak here. Ru Mak. i know how the market will move. When i buy, it goes down. So when i buy i always SELL twice as much as when i buy. And when i sell, it always goes up. So i always buy twice as much as what i sold. If you follow this simple strategy you too can be fantastically wealthy. Sure wish i had rich parents that loved me like some of you guys ................ Total rubbish , Link to comment Share on other sites More sharing options...
You Cannot Be Serious Posted September 1, 2020 Share Posted September 1, 2020 13 hours ago, kingdong said: once we're out the eu,the pound will rise as the eu tears itself apart before collapsing,70baht= £1.soon You Wish ???? Link to comment Share on other sites More sharing options...
tomazbodner Posted September 1, 2020 Share Posted September 1, 2020 7 hours ago, DaweiBeach said: During the last big political crisis in 2014 the Baht slipped to 45 TBH to 1 Euro. We are still far away from those levels even though the situation in Thailand could soon become MUCH worse with unprecedended economical fallout + new political instability. Meanwhile the economies in the EU and the UK are already recovering and things are pretty much back to normal for now. I wouldn't bet on the USD to THB rates but my bet is that the GBP and Euro will strength considerably against the Baht. I don't see how Thailand is not headed for a major crisis. Then again with the whole World in crisis, it could as well go to 25 THB to 1 EUR, especially if second round of lockdowns happen in Europe, and Asia is less affected. Thai economy is recovering, so are many Asian economies. The west is still in free fall... Link to comment Share on other sites More sharing options...
Logosone Posted September 1, 2020 Share Posted September 1, 2020 On 8/31/2020 at 6:08 AM, cmarshall said: So far the baht has strengthened against USD since the outbreak of corona despite the decline of tourism and exports. Why would that change as long as the epidemic continues? The Baht has not strengthened against the USD, rather the USD has weakened. That's why all currencies gained against the USD. Of course that will change as soon as the USD makes a recovery. Link to comment Share on other sites More sharing options...
sscc Posted September 1, 2020 Share Posted September 1, 2020 USD has been very strong in the first 3-4 months of 2020. Then USD has gone down significantly for the past 12 weeks ( since early June ), and is to go further down in near future. This decline had been predicted everywhere few months ago. On the other hand, Thai THB is damn difficult to predict. ( Like that for a long time ) Important NOT just look/use THB Vs USD for reference. Check out THB Vs EUR, THB Vs Pound, THB Vs YEN, THB Vs AUS, THB Vs CAD .....etc to get the whole picture. Link to comment Share on other sites More sharing options...
50cruff Posted September 1, 2020 Share Posted September 1, 2020 According to this data, and it may be fairly accurate, there is a strong reason why the Baht will stay strong for quite a long time, with more Foreign currency reserves than any European country or even the USA. Nor will currency speculators challenge the Baht as once happened before. I spoke to an Economist at one of Thailand's leading university's recently and we both agreed that although the Thai Government would love to devalue its currency, by the stroke of a pen, it would run foul of the USA regulations and possible sanctions by being branded a currency manipulator . https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves 1 1 Link to comment Share on other sites More sharing options...
Brunolem Posted September 1, 2020 Share Posted September 1, 2020 3 hours ago, shy coconut said: I have no idea what Joe Biden has achieved in his business life It seems that Joe Biden has made some nice business deals in countries such as Ukraine... Link to comment Share on other sites More sharing options...
Snow Leopard Posted September 1, 2020 Share Posted September 1, 2020 19 hours ago, rumak said: YESSSSSS ! someone else in this thaivisa universe actually understands this. I was with a group of "friends" about 20 years ago, in a house just outside of Chiangmai. I may have been the only american , mostly europeans . At that time the US deficit was a subject of speculation just as it should be today. It was the common opinion of those there that the dollar was going to go to hell, and probably be replaced as the world currency as well. I am no economist, but i thought, and said, I don't think so. No matter how ridiculous it all seems (the manufacture of money out of thin air)......... the US is the biggest bully in the world and i don't think they are going to lose that title, or be punished by their "crazy debt" Only difference now : the debt is in the trillions instead of the billions . and still there are the same pundits predicting the downfall of the evil empire. I still doubt it. You are correct and the US limits the amount of actual currency entering into circulation. The issue is the Euro/Dollar. Not Euro's to US Dollars. There is no control on how many US$ are being fractional reserved and printed/loaned into the market. So the situation now and is different since the 2008 crisis. The US$ will die eventually like every other FIAT currency that has ever existed. The US$ will take every other world currency with it when it goes and it will be the last man standing for sure. That is the point that the US$ as the worlds reserve currency will end and we will go onto some other system either gold, crypto or something yet to be created. 1 Link to comment Share on other sites More sharing options...
Snow Leopard Posted September 1, 2020 Share Posted September 1, 2020 The US$ is dropping in strength. Some believe it will continue down to nothing and some believe it will spike first and then drop down. I am on the side of the spike but going by my trading crystal ball yesterday i am seriously doubting myself. Bottom line is the USD is getting weaker across all currencies not just the THB. Link to comment Share on other sites More sharing options...
rumak Posted September 1, 2020 Share Posted September 1, 2020 (edited) 2 hours ago, Mazzza33 said: Total rubbish , duplicate Edited September 1, 2020 by rumak Link to comment Share on other sites More sharing options...
rumak Posted September 1, 2020 Share Posted September 1, 2020 2 hours ago, Mazzza33 said: 19 hours ago, rumak said: Rumak here. Ru Mak. i know how the market will move. When i buy, it goes down. So when i buy i always SELL twice as much as when i buy. And when i sell, it always goes up. So i always buy twice as much as what i sold. If you follow this simple strategy you too can be fantastically wealthy. Sure wish i had rich parents that loved me like some of you guys ................ Total rubbish , hahah good first post. read my other hundreds of posts , you might find some of them rubbish as well. also if you have time look up humor, tongue in cheek, and sarcasm Of course then you will need some ability to distinguish between those mediums. tough assignment . welcome to thaivisa Link to comment Share on other sites More sharing options...
Leaver Posted September 4, 2020 Share Posted September 4, 2020 On 9/1/2020 at 10:22 AM, 50cruff said: According to this data, and it may be fairly accurate, there is a strong reason why the Baht will stay strong for quite a long time, with more Foreign currency reserves than any European country or even the USA. Nor will currency speculators challenge the Baht as once happened before. I spoke to an Economist at one of Thailand's leading university's recently and we both agreed that although the Thai Government would love to devalue its currency, by the stroke of a pen, it would run foul of the USA regulations and possible sanctions by being branded a currency manipulator . https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves https://thethaiger.com/hot-news/economy/us-treasury-mulls-putting-thailand-on-its-watchlist-as-a-currency-manipulator Link to comment Share on other sites More sharing options...
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