Cabinet Acknowledges Plan to Develop Public Financial Skills

[snoop1130]

 

BANGKOK (NNT) - The Cabinet has approved in principle a plan to develop people’s financial skills as part of the government’s year for addressing household debt.

 

Government Spokesperson Thanakorn Wangboonkongchana said the 2022-2027 plan consists of eight measures and 19 strategies. The aim was to encourage members of the public to recognize the importance of monetary management and accessing financial information.

 

Under the new plan, Thais of all ages will be expected to know how to properly manage their assets, refrain from creating unnecessary debt, and maximize their savings. Additionally, the plan will educate people on digital assets and how to benefit from them while managing associated risks.

 

In a related development, Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow said the government was confident that the depreciation of cryptocurrencies would have no impact on the Thai economy. He specifically cited their low investment volume relative to the stock market.

 

Bitcoin, the biggest cryptocurrency, was valued at about US$21,900 dollars as of Wednesday morning, a far cry from its all-time-high of around $68,000 in November 2021.

 

Minister Supattanapong reiterated that the administration has continuously warned investors about the fluctuations and risks associated with crypto. He also urged people to exercise the utmost caution when making digital asset-related investments.

 

-- © Copyright NNT 2022-06-15

 

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[ThailandRyan]

Who are they kidding or better yet I yes I think these folks are delusional. Most live from day to day......

[klauskunkel]

12 hours ago, snoop1130 said:

Minister Supattanapong reiterated that the administration has continuously warned investors about the fluctuations and risks associated with crypto. He also urged people to exercise the utmost caution when making digital asset-related investments.

The "continuous warning" has been further explained in this article (from March 08 this year):

 

BANGKOK (NNT) - The Ministry of Digital Economy and Society has indicated that it will support blockchain as part of efforts to promote the digital economy in Thailand.

Digital Economy Minister Chaiwut Thanakamanusorn made the announcement during a recent visit to the headquarters of Bitkub, the local exchange for cryptocurrencies.

After meeting with the executives of the exchange, Minister Chiwut said it was apparent that the crypto sector is growing and will greatly contribute to Thailand’s digital economy. Additionally, he assured that the administration will continue to support the sector going forward.

Bitkub founder Jirayut Srupsrisopa said the exchange is planning to build a solid foundation for Thailand’s digital economic infrastructure within the next five years. He also welcomed the government’s support for blockchain technology, which serves as the basis for other emerging advances such as augmented reality, virtual reality, and the metaverse.

Bitkub was founded in 2018 and was among the first exchanges to receive a digital asset license from the nation’s Securities and Exchange Commission, in 2019. It is the largest crypto exchange in Thailand, with a 90% share of crypto transactions based on 2021 data from regulated exchanges.

Information and Source

Reporter : Paul Rujopakarn

Rewriter : Paul Rujopakarn

National News Bureau : http://thainews.prd.go.th

[scorecard]

Cabinet Acknowledges Plan to Develop Public Financial Skills

So how will this happen:

 

- Classes started at high school, or ?

 

- Emphasis on the general public being knowledgeable about the whole subject but strong regular reinforcement that every citizen / family must make their own decisions? Or the public told they have to follow a laid down process and cannot deviate from that process (typical of rote learning methods), typical of farmers being told what crops/trees they have to plant and the farmers too frightened to deviate from the dictate of local authorities on what to plant (and as proven before the decisions on what to plant made by gov't officials who have never set foot on a farm, all meaning personal / individual analysis of own situation and separately own personal decision re financing is strongly not encouraged / not in the picture.

 

In other words personal responsibility / accountability for own decisions not encouraged.  In other words no progress.

 

Also, when will there be serious laws to stop loan shark activities and when will banks be required to follow a set of laws about caps on persnal loans.

Edited June 16, 2022 by scorecard