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Thai government’s 500 billion baht digital wallet under scrutiny


snoop1130

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Let em do it!

 

when the economy does eventually crash and the Thai baht becomes worthless - I will be here to hoover up all the spoils.

 

All my money is now in us dollars and gold.

best of luck, srettha and co.

 

bob.

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The money hand-out might be self-correcting in that it will cause the Baht to plummet and the people who got the hand-out will find themselves owning a currency that is worth substantially less. They might lose, not win, purchasing power at the end of the day.

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6 minutes ago, JackGats said:

The money hand-out might be self-correcting in that it will cause the Baht to plummet and the people who got the hand-out will find themselves owning a currency that is worth substantially less. They might lose, not win, purchasing power at the end of the day.

That is very possible. Equally as likely, I think, is that the release of those funds into the economy causes prices to surge and price inflation follows. If that happens at the same time as the Baht devalues, watch out!

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13 hours ago, snoop1130 said:

The funding sources for the government’s flagship 500 billion baht handout scheme, better known as the digital wallet, will undergo careful consideration, ensuring that public debt remains manageable, a senior government official stated today.

Still dragging it out.... the people want their 10 K

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If this doesn't happen there will be some mighty upset people here in issan and there goes there votes in the next election typical politicians

 

 

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16 hours ago, snoop1130 said:

the plan has drawn criticism from experts who argue that it exhibits fiscal irresponsibility. They contend that economic recovery cannot be achieved solely through handouts but requires addressing the structural issues plaguing the economy.

Yet the UK government claim  that economic recovery is on course due to the handouts in recent years. Who is the greater expert and is the UK free from structural issues that need to be addressed. The condition of much of the infrastructure would suggest otherwise.

Thailand and the UK have similar size of population, UK national debt is currently 100% of GDP, Thailand national debt is 55% of GDP, well below the average for SE Asia.

At the end of the day all political initiatives attract critisism and the only thing that counts is international opinion on the currency, you only have to look at what happened following the Liz Truss initiative.

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2 hours ago, hotchilli said:

Still dragging it out.... the people want their 10 K

Huh. Some people we know have already borrowed against it and spent it.

Local loan sharks giving 8k in cash for the 10k "wallet" later.

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23 hours ago, snoop1130 said:

The funding sources for the government’s flagship 500 billion baht handout scheme, better known as the digital wallet, will undergo careful consideration,

Today it appears that funding will be directed within the next fiscal year to the RTN's next submarine and frigate that don't appear to have undergone "careful consideration." RTN 1 : Thais 0

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