/Featured Quiz4 October - Weekly Featured Quiz - General Knowledge

[LaoPo]

Get smart with the baht

Here are ten things you should do as the currency gets stronger

1.Shop for imported goods whose prices have turned you off in the past.

2.As the baht is likely to peak this year, parents with kids studying abroad should transfer as much money as possible so they will spend less baht for the same amount of dollars.

3.If you have always wanted to travel to America or watch your beloved English Pre-mier League team in the flesh, go now. But forget Japan, Switzerland and Australia: their currencies are appreciating against the US dollar.

4.Online shopping is recommended. Better still, check out websites offering to waive transportation costs if you spend up to a certain amount.

5.Find a good online package for your kids to study at summer camps in other countries.

6.If you are reasonably well to do, purchase American property that has been put on sale thanks to the sub-prime crisis.

7.Diversify your money into US dollars and put them in a Thai bank's foreign-currency deposit account. When the baht depreciates again, you will get more baht at maturity. Make sure you don't over-invest, though.

8.As the baht is expected to depreciate after this year, buy foreign investment funds (FIF). Putting money in FIFs for more than two years will result in significant returns .

9.Love reading British Cosmo-politan or US Vogue? Buy a subscription. These magazines are finally affordable

10.Since current mortgage rates will bottom out by mid-year, those who are considering getting a mortgage should do it now.

From: http://www.nationmultimedia.com/2008/03/08...es_30067581.php

LaoPo

[haybilly]

Get smart with the baht

Here are ten things you should do as the currency gets stronger

1.Shop for imported goods whose prices have turned you off in the past.

2.As the baht is likely to peak this year, parents with kids studying abroad should transfer as much money as possible so they will spend less baht for the same amount of dollars.

3.If you have always wanted to travel to America or watch your beloved English Pre-mier League team in the flesh, go now. But forget Japan, Switzerland and Australia: their currencies are appreciating against the US dollar.

4.Online shopping is recommended. Better still, check out websites offering to waive transportation costs if you spend up to a certain amount.

5.Find a good online package for your kids to study at summer camps in other countries.

6.If you are reasonably well to do, purchase American property that has been put on sale thanks to the sub-prime crisis.

7.Diversify your money into US dollars and put them in a Thai bank's foreign-currency deposit account. When the baht depreciates again, you will get more baht at maturity. Make sure you don't over-invest, though.

8.As the baht is expected to depreciate after this year, buy foreign investment funds (FIF). Putting money in FIFs for more than two years will result in significant returns .

9.Love reading British Cosmo-politan or US Vogue? Buy a subscription. These magazines are finally affordable

10.Since current mortgage rates will bottom out by mid-year, those who are considering getting a mortgage should do it now.

From: http://www.nationmultimedia.com/2008/03/08...es_30067581.php

LaoPo

Whilst well aware that nothing in this world is ever certain, except death/taxes etc.., how sure are people out there that the baht will depreciate again at year end?

[Rimmer]

Any accountant worth his salt will tell you Never ever speculate on currency, sooner or later it will get you.

[elektrified]

Any accountant worth his salt will tell you Never ever speculate on currency, sooner or later it will get you.

I'm glad I don't take advice from your accountant! Diversifying your cash and stock/bond holdings in currencies such as the Swiss Franc, Euro, British Pound, or the Japanese Yen is NOT speculation. It is the wise thing to do. Any successful investor or accountant that knows what he/she is talking about will tell you that. If you were invested 100% in the U.S. Dollar for the last 3-4 years, you would have potentially lost a considerable amount of money as some of these currencies are up 30 or more percent against the USD.

[naka]

Any accountant worth his salt will tell you Never ever speculate on currency, sooner or later it will get you.

I'm glad I don't take advice from your accountant! Diversifying your cash and stock/bond holdings in currencies such as the Swiss Franc, Euro, British Pound, or the Japanese Yen is NOT speculation. It is the wise thing to do. Any successful investor or accountant that knows what he/she is talking about will tell you that. If you were invested 100% in the U.S. Dollar for the last 3-4 years, you would have potentially lost a considerable amount of money as some of these currencies are up 30 or more percent against the USD.

Here I am ... wondering why successful accountants are still working as accountants

Naka.

[sbk]

Moved to investment and economy section

///MOVED///

[jstumbo]

//changed my mind//

Edited March 13, 2008 by jstumbo

[KireB]

Great advice for the ordinary Thai people! Lol.

[wasabi]

It sure seems like the USA is going down the same road Thailand went down in the summer of 1997. It's ironic in a sense that we criticized Thailand for taking on too much debt and excessive speculation which amongst other factors led to the crisis since that seems to be what is causing the problems in the USA. The world has really done a complete about face as now it's the dollar falling and the USA that is in peril.

[BEENTHEREDONETHAT]

the US economy is in the toilet even if Bush does not recognise it. But with a debt of close to 50,000,000,000,000 (50 trillion) dollars, how long will it take for the US to recover.

While the goverment claim to be 9trillion in debt that does not include military retirement and medical, politician retirement & medical or social security and medical. So that is where the 50trillion projection comes from. Got that number on the news.

What happens when the big holders of US $ start to dump them, like China, Japan & middle east?

Hope US recovers quickly but it dosen't look to promising.

[Heng]

Any accountant worth his salt will tell you Never ever speculate on currency, sooner or later it will get you.

I'm glad I don't take advice from your accountant! Diversifying your cash and stock/bond holdings in currencies such as the Swiss Franc, Euro, British Pound, or the Japanese Yen is NOT speculation. It is the wise thing to do.

In defense of that accountant, he/she didn't say that either. Going unusually heavy with one currency could be considered speculation, but having a broad basket is not... and IMO most accountants would agree.

[cali4995]

In the last few weeks in the Nation and Bangkok post, there have been

some insightful pieces reprinted from a nobel prize winning economist

about the 3-5 trillion dollar war. It's sobering reading but it certainly

does lay a foundation for you on what's been moving the dollar.

http://www.guardian.co.uk/world/2008/feb/28/iraq.afghanistan