brianthainess Posted May 2, 2022 Share Posted May 2, 2022 6 hours ago, RichardColeman said: Please do something , the £ just hovering about 43 is nonsense for attracting tourism. TT is only 42.6 and AUD is only 24.04 these bloody reports are annoying when all they talk about is USD. 2 Link to comment Share on other sites More sharing options...
Popular Post ChaiyaTH Posted May 2, 2022 Popular Post Share Posted May 2, 2022 (edited) 4 minutes ago, brianthainess said: TT is only 42.6 and AUD is only 24.04 these bloody reports are annoying when all they talk about is USD. That's because those USD a-holes run a monopoly. Hence russia kicking back to demand being paid in roebels, usually all is in USD. To think USA gets away with this <deleted> again, while they printed like 2-3 times their supply in just a few years. They first weakened South America, then the world and Asia with covid, then Russia and Europe suffering on BS in Ukraine, and surprise surprise after middle east wars, USA once saved itself again. Edited May 2, 2022 by ChaiyaTH 2 3 Link to comment Share on other sites More sharing options...
brianthainess Posted May 2, 2022 Share Posted May 2, 2022 On 5/2/2022 at 1:08 PM, timendres said: Baht Depreciation Could Have Widespread Implications Like creating many very happy expats! Only if your money is in USD otherwise every other currency is <deleted>. 1 1 Link to comment Share on other sites More sharing options...
Lacessit Posted May 2, 2022 Share Posted May 2, 2022 2 hours ago, John Drake said: Weakening baht wonderful tonic for exporters. Same for attracting tourists. A financial shot in the arm. The only people it doesn't help are: CP and the 0.01 percent hisos who want to buy real estate in other countries and import high priced goods. So, the result? Got to shoot down the 99.9 percent for the ultra hisos. I guess you don't look at the price of gasoline at the pump, which affects every Thai. That's a shot in the wallet. 1 Link to comment Share on other sites More sharing options...
ikke1959 Posted May 2, 2022 Share Posted May 2, 2022 2 hours ago, bkk6060 said: For who? Related costs in the U.S. and several EU have almost doubled in the past 3 years Thailand is still cheap, but if you think it is expensive now just wait. Inflation will soon rear its ugly head then off to the higher cost races. You don't understand Link to comment Share on other sites More sharing options...
ThailandRyan Posted May 2, 2022 Share Posted May 2, 2022 10 hours ago, ChaiyaTH said: That's because those USD a-holes run a monopoly. Hence russia kicking back to demand being paid in roebels, usually all is in USD. To think USA gets away with this <deleted> again, while they printed like 2-3 times their supply in just a few years. They first weakened South America, then the world and Asia with covid, then Russia and Europe suffering on BS in Ukraine, and surprise surprise after middle east wars, USA once saved itself again. Do some research before you flap your trap. https://www.thebalance.com/what-is-a-peg-to-the-dollar-3305925 A dollar peg is when a country maintains its currency's value at a fixed exchange rate to the U.S. dollar. The country's central bank controls the value of its currency so that it rises and falls along with the dollar. The dollar's value fluctuates because it’s on a floating exchange rate. 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted May 2, 2022 Share Posted May 2, 2022 Thailand exports far more to the USA than it imports. So why would BoT intervene to save the Baht? Especially now when other western currencies haven’t fared as well as the USD… 2 Link to comment Share on other sites More sharing options...
ChaiyaTH Posted May 2, 2022 Share Posted May 2, 2022 (edited) 15 minutes ago, ThailandRyan said: Do some research before you flap your trap. https://www.thebalance.com/what-is-a-peg-to-the-dollar-3305925 A dollar peg is when a country maintains its currency's value at a fixed exchange rate to the U.S. dollar. The country's central bank controls the value of its currency so that it rises and falls along with the dollar. The dollar's value fluctuates because it’s on a floating exchange rate. This has zero to do with anything I mentioned and the fact that USA has a monopoly by enforcing the petro dollar. Our entire world and life is about fossil fuels / energy at first. Secondly the fact that the US dollar is one big scam, specially knowing they printed 2-3x the supply in total in just the recent years, but then keep to be a leader. What you think happened in Iraq, Libya etc in the first place, they wanted a gold backed currency of their own. Edited May 2, 2022 by ChaiyaTH 1 Link to comment Share on other sites More sharing options...
dj230 Posted May 2, 2022 Share Posted May 2, 2022 (edited) I remember posting about inflation concerned in January, this is just the start of it in my opinion, tons of business' need to get washed out that have been benefiting from the stimulus from covid and charging outrageous prices knowing that someone rich enough will just pay it, not just in Thailand but all over the world. It was nice to see the stock market finally correcting but I think there has to be more wealth destruction before things go back to normal, whether through depreciating currencies/inflation, or more asset bubbles bursting (real estate, stock market, precious metals, cryptocurrencies etc.) Edited May 2, 2022 by dj230 Link to comment Share on other sites More sharing options...
Popular Post Lacessit Posted May 2, 2022 Popular Post Share Posted May 2, 2022 53 minutes ago, ChaiyaTH said: That's because those USD a-holes run a monopoly. Hence russia kicking back to demand being paid in roebels, usually all is in USD. To think USA gets away with this <deleted> again, while they printed like 2-3 times their supply in just a few years. They first weakened South America, then the world and Asia with covid, then Russia and Europe suffering on BS in Ukraine, and surprise surprise after middle east wars, USA once saved itself again. The USA weakened the world with Covid? News to me, when the pandemic originated in Wuhan, China. Any suffering Russia has is entirely self-inflicted, by invading a country that had previously had its sovereignty guaranteed by Russia, in return for giving up its nuclear arsenal. Could I suggest you leave your tin hat behind before posting again. 4 1 Link to comment Share on other sites More sharing options...
mosan Posted May 2, 2022 Share Posted May 2, 2022 3 hours ago, John Drake said: And of course, this statement itself is intervening to prop up the baht. Don't think that it's just a coincidence that this jawboning occurred just a day before US Social Security payments are to be made to Thailand. Anyone paying attention would realize that. I have been making transfers about 1 to 2 weeks in advance of US paydays in order to avoid this. Also happens around holidays and world events. The key is to have funds in a holding pattern so one can take advantage of the highs and dodge the lows as much as possible. Link to comment Share on other sites More sharing options...
sanuk711 Posted May 2, 2022 Share Posted May 2, 2022 1 hour ago, thaivisareader said: bahts been manipulated and propped up way too long. should be in the £70/$40 range. Reason? baht not backed up by anything. Exports/tourism/manufacturing- way down. unpopular stagnant dictatorship doesn't help. Do you know what the exchange rate was before the Thai Crash thaivisareader? before they had all the tourism/manufactoring etc . You (GBP) were getting 37 baht to the 1GBP & it was 24 Baht 1US$ --want the old days back again---careful what you wish for. Link to comment Share on other sites More sharing options...
Lingba Posted May 2, 2022 Share Posted May 2, 2022 7 hours ago, ThailandRyan said: Ergo, manipulation to help Thailands oligarchs.... Exactly...they should just let it take its natural and realistic course 1 Link to comment Share on other sites More sharing options...
mosan Posted May 2, 2022 Share Posted May 2, 2022 1 hour ago, brianthainess said: Only if your money is in USD otherwise every other currency is $hit. I didn't hear you complaining when the UK Pound was sky high...but then, I'm not sure you get paid in Pounds. Still, what goes around comes around. 1 Link to comment Share on other sites More sharing options...
RyanWalker Posted May 2, 2022 Share Posted May 2, 2022 5 hours ago, timendres said: With China locked down and nearing economic pandemonium, Thailand should embrace a weaker Baht, and do its best to lock in as much export business as possible. Lol I live in China and there ia no economic pandemonium. You watvh too much CNN Link to comment Share on other sites More sharing options...
Surasak Posted May 2, 2022 Share Posted May 2, 2022 5 hours ago, timendres said: Baht Depreciation Could Have Widespread Implications Like creating many very happy expats! The Baht would need to depreciate by a substantial amount to make me happy. Link to comment Share on other sites More sharing options...
thailand49 Posted May 2, 2022 Share Posted May 2, 2022 2 hours ago, Isaan sailor said: Happy evenings, or happy endings? Both 1 Link to comment Share on other sites More sharing options...
sawadee1947 Posted May 2, 2022 Share Posted May 2, 2022 6 hours ago, KhunBENQ said: I like this Dollar centric view of the world ☹️ Baht depreciation while Euro is melting like ice in the heat of the war. Oh dear, you seem to have severe Problems with the Heat? Link to comment Share on other sites More sharing options...
Popular Post Walker88 Posted May 2, 2022 Popular Post Share Posted May 2, 2022 1 hour ago, ChaiyaTH said: This has zero to do with anything I mentioned and the fact that USA has a monopoly by enforcing the petro dollar. Our entire world and life is about fossil fuels / energy at first. Secondly the fact that the US dollar is one big scam, specially knowing they printed 2-3x the supply in total in just the recent years, but then keep to be a leader. What you think happened in Iraq, Libya etc in the first place, they wanted a gold backed currency of their own. I'm going to go out on a limb and guess you are not an economist and never studied economics. I think you are also confused about why the dollar is the reserve currency. It isn't a law, it's a preference. The dollar greatly benefits from the size of the US economy, the size of the financial markets and the ease of entry/exit in those markets, and the rule of law. The strength of the US military also factors into the dollar value. Folks with capital seek returns, they seek safety, and they seek liquidity. The US provides all of those things. Finally, I don't think you understand the nature of money, particularly fiat. EVERY country prints money, and the market decides relative rates and cross rates. Perhaps you should tell the major market players that they are wrong buying the dollar up to 1.05 euro, 1.25 cable, or 129 yen. Maybe they will listen to you. I'm going to guess, however, they won't listen. Each country's fiat is backed by the taxing authority of the host govt. The tax revenue stream is a function of the strength of the economy and markets. In essence, the dollar is 'backed' by the skill and ambition of all the business owners in the US. THAT is why Nixon could dump the gold standard, which made no sense in the modern world and acted as a brake on growth potential. The gold standard was silly, since even that had to be based on what the market decided the value of gold was. Nixon cut out the middleman, and the market could then just decide the value of the dollar, relative to other forms of fiat. It has worked quite well, as the US economy has grown almost every year since the anachronism of the gold standard was dropped, and the poverty level dropped substantially over that period. The use of fiat is just a means of exchange so that we don't have to barter or to slaughter each other to get a meal. Sure, it's a confidence game, but it works. 3 3 Link to comment Share on other sites More sharing options...
Popular Post John Drake Posted May 2, 2022 Popular Post Share Posted May 2, 2022 1 hour ago, sanuk711 said: You (GBP) were getting 37 baht to the 1GBP & it was 24 Baht 1US$ --want the old days back again---careful what you wish for. Maybe. What did 24 baht buy 3 decades ago compared to 34 today? 2 1 Link to comment Share on other sites More sharing options...
John Drake Posted May 2, 2022 Share Posted May 2, 2022 17 minutes ago, John Drake said: Maybe. What did 24 baht buy 3 decades ago compared to 34 today? Btw one thing 24 baht would buy back then is 200,000 baht maintained in a bank account for a retirement extension instead of 800,000. 2 Link to comment Share on other sites More sharing options...
sammieuk1 Posted May 2, 2022 Share Posted May 2, 2022 Try remembering the day after the brexit vote if you want to talk depreciation and the sniveling pound is still there ???? 1 Link to comment Share on other sites More sharing options...
sanuk711 Posted May 2, 2022 Share Posted May 2, 2022 7 minutes ago, John Drake said: Btw one thing 24 baht would buy back then is 200,000 baht maintained in a bank account for a retirement extension instead of 800,000. From memory there were 2 price levels --Pattaya then was half the price of BKK for free lance --and there were a lot of quite cute free lance around then, some come just to work 2-3 months pay off a debt. No retirement extension-- you left the country and hoped to get a Visa from a Thai embassy outside of Thailand---- (George Town Malaysia was my favorite) also left the country every 90 days, just to do a U turn, Some bars made a good profit supplying Vans for the 90 day run to the border, bring you back same day. I don't miss that...... 1 Link to comment Share on other sites More sharing options...
Maha Sarakham Posted May 2, 2022 Share Posted May 2, 2022 Here's hoping we see 35 or 36:1 soon. 1 1 Link to comment Share on other sites More sharing options...
Senior Player Posted May 2, 2022 Share Posted May 2, 2022 4 hours ago, Pmbkk said: That's not just sterling - it's Boris...???? I'm not one to stick up for Doris, but it's down to the botched decision-making by the Bank of England for not raising interest rates, allowing inflation to run rampant at 7 per cent – more than triple the target set by the Government. Anyway, looks like the BoE will be raising the base rate anytime soon, but will it be enough? Probably not. 1 Link to comment Share on other sites More sharing options...
Harveyboy Posted May 2, 2022 Share Posted May 2, 2022 11 hours ago, KhunBENQ said: I like this Dollar centric view of the world ☹️ Baht depreciation while Euro is melting like ice in the heat of the war. i know im melting with it ...euro pension Fooooooked 1 Link to comment Share on other sites More sharing options...
thaivisareader Posted May 3, 2022 Share Posted May 3, 2022 ...want the old days back again---careful what you wish for. careful? F.U. I wish for the baht to keep on depreciating to 'the good old days' of 2005 when 40+baht=$1/72b=1£. where it should be. BTW way back when the baht was 25/35 you got a ton load more bang & brews for your $'s & £'s. 1 1 Link to comment Share on other sites More sharing options...
jacko45k Posted May 4, 2022 Share Posted May 4, 2022 (edited) On 5/2/2022 at 5:29 PM, brianthainess said: TT is only 42.6 and AUD is only 24.04 these bloody reports are annoying when all they talk about is USD. It is the world's reserve currency, and all conversions go via USD....and to be honest, comparing say THB to GBP has people whingeingly banging on about overly strong baht... which is not the reality, the baht is losing strength, just Sterling is weaker still. Edited May 4, 2022 by jacko45k 1 Link to comment Share on other sites More sharing options...
Henryford Posted May 4, 2022 Share Posted May 4, 2022 What depreciation? only against the dollar. Even there it's the same as it was 5 years ago. 1 Link to comment Share on other sites More sharing options...
jacko45k Posted May 4, 2022 Share Posted May 4, 2022 3 minutes ago, Henryford said: What depreciation? only against the dollar. Even there it's the same as it was 5 years ago. Norwegian Krone maybe? Link to comment Share on other sites More sharing options...
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