Help . . . Is The £ Going Into Free-fall?

[lannarebirth]

It's none of those things. It's a market talking point they can sell their long positions into on the pop up as they change to short positions. Never forget, unless you're a high net worth individual who is trading with these specific Investment Banks, these people are almost always on the other side of your position or are frontrunnibg their "reports"..

I am sorry to hear you are not a high net worth individual. I am known in the Market when ever I go to buy pork, chicken, rice bananas etc. they all say "Hi Phil"

I remember once when i was getting reports from Credit Suisse. the recommendations were exactly the opposite of what the Credit Suisse First Boston "analyst" was recommending. Of course CS had their own propriatorial trading division as well. Chinese wall, my ass.

No skin off my nose, but I think many people aren't aware of how things really operate.

[DavidOxon]

Maybe I hire you to teacher me how to write English. If I feel there is need to

OK, I can start now if you so desire

The correct english would be

Maybe I "should or could"hire you to teacher me how to write English. If I feel there is need to

Hope this helps and I have invoiced you already for my time and efforts.

If that's the best you can do, I'd stick to the day job!

[barrella]

Maybe I hire you to teacher me how to write English. If I feel there is need to

OK, I can start now if you so desire

The correct english would be

Maybe I "should or could"hire you to teacher me how to write English. If I feel there is need to

Hope this helps and I have invoiced you already for my time and efforts.

If that's the best you can do, I'd stick to the day job!

Well if the best you can do with your time is comment on this, a lite jape a bit of fun then I would feel that you do not have a day job

enough, I am off for some som tam

See you at the bottom

[DavidOxon]

Maybe I hire you to teacher me how to write English. If I feel there is need to

OK, I can start now if you so desire

The correct english would be

Maybe I "should or could"hire you to teacher me how to write English. If I feel there is need to

Hope this helps and I have invoiced you already for my time and efforts.

If that's the best you can do, I'd stick to the day job!

Well if the best you can do with your time is comment on this, a lite jape a bit of fun then I would feel that you do not have a day job

enough, I am off for some som tam

See you at the bottom

Ha . . . . you're a real barrella laughs! Sorry, I forgot the cheeky boy smiley on the last post!

David

Do you SCUBA too?

[Naam]

Maybe I hire you to teacher me how to write English. If I feel there is need to

OK, I can start now if you so desire

The correct english would be

Maybe I "should or could"hire you to teacher me how to write English. If I feel there is need to

Hope this helps and I have invoiced you already for my time and efforts.

hmmm...

[chiang mai]

Can anyone explain why when I type a response into ThaiVisa the letters and words all appear in reverse order? Seriously, I’ve no idea what is going on and have never seen this before – this post is a copy and paste from Word.

!sneppah tahw si siht ,em eveileb t'nod uoy esac ni tsuj dnA

Talking of having no idea about what’s going on it does look as though USD/GBP has improved a little so maybe a chance to trade GBP for USD, my money says it will continue to show profit after some form of correction.

[Naam]

http://www.xe.com/ucc/convert.cgi

what "xe.com" says is irrelevant. what counts are the rates here in Thailand if you transfer forex. last rates (18.40hrs) from SCB are:

GBP transfer 53.185 / cash 52.10

[cmsally]

Can anyone explain why when I type a response into ThaiVisa the letters and words all appear in reverse order? Seriously, I’ve no idea what is going on and have never seen this before – this post is a copy and paste from Word.

!sneppah tahw si siht ,em eveileb t'nod uoy esac ni tsuj dnA

Talking of having no idea about what’s going on it does look as though USD/GBP has improved a little so maybe a chance to trade GBP for USD, my money says it will continue to show profit after some form of correction.

Maybe you clicked on the Arabic version button ?

[ged]

http://www.xe.com/ucc/convert.cgi

what "xe.com" says is irrelevant. what counts are the rates here in Thailand if you transfer forex. last rates (18.40hrs) from SCB are:

GBP transfer 53.185 / cash 52.10

My wife is Thai but works and lives in the UK , she has just called me from Chiang Rai complaining that due to the bad Pound /Baht exchange rate, it is cheaper to shop in Asda UK than Tesco Thailand,

I told her just be thankful you can still shop

[chiang mai]

Can anyone explain why when I type a response into ThaiVisa the letters and words all appear in reverse order? Seriously, I’ve no idea what is going on and have never seen this before – this post is a copy and paste from Word.

!sneppah tahw si siht ,em eveileb t'nod uoy esac ni tsuj dnA

Talking of having no idea about what’s going on it does look as though USD/GBP has improved a little so maybe a chance to trade GBP for USD, my money says it will continue to show profit after some form of correction.

Maybe you clicked on the Arabic version button ?

gnikoj ton m'I

[henryalleman]

The BOT is spending its Dollar reserves in order to prop up the currecncy! I wonder just how much longer this can go on as there are already calls from some of the other governors at the BOT to devalue the baht. Ms. Tarissa is either one very smart lady or she will be out of a job very soon, and quite frankly I really don't know which it is?

Never mind the calls for the Baht to be devalued - at some time down the line the Thai Dollar reserves are going to run out.

We should not forget that it is not so many months back that the discussion here on TV (and in the Thai press) was of Thai Banks that are in financial difficulty - from memory the Thai Military Bank was one such candidate for financial problems. And remember these where internal Thai problems not relating to the global liquidity that is hitting the banks in the US and UK.

What do we know?

We know that the Thai economy is dependent upon goods and food exports, that orders for goods are down, and that the price of rice (the backbone of last year's budget surplus) have dropped dramatically.

Thailand's receipts are heading south and they are spending money propping up the Baht - This is not a new tactic - Business is down, put up the prices.

We also know the rest of the world is heading into recession - Talk to people in the UK/US/OZ/Europe and they are all saying the same thing - They are cutting back spending - consolidating what they have ready for the hard times to come.

What are the Thais doing - The Baht is up, imports are cheap - Spend today and S0d tomorrow.

Keep an eye out for the "Select Few" in the Thai government (and their connections) buying Dollars - Do not go kidding yourself that the shed load of 'Free Money' to had by a swift transaction followed by a devaluation is not too tempting for those who make the decisions around Thailand.

TMB is 30% owned by ING, this week the Dutch government injected 10 billion EURO to salve their cash problem. So this could have an effect on TMB. Fortis bank(Belgium) has a partnership with Kasikorn. We don't know about other foreign relationships of other Thai banks. Dexia(Belgium who is in big financial problems is bailed out by the government, has an involvement in the Thai insurance market the same go's for Fortis. I would like to know of partnerships by Thai banks with foreign banks or financial institutes who are in financial problems. It would be rather unlikely that tan financial crisis in global economy will have no effect on Thai banks. Don't forget that in the US and Europe the bubble did burst in a few day's, after the banks assured that everything was fine.

I only know that I lost more than 500 000 bath in a few month's by the declining EURO towards the Baht.

[jay-uk]

Maybe a good time soon to sell off anything owned in LOS and bring funds back to UK. Under current ex-rates the assets are worth more sold now than before so some people may think of selling houses and land at a profit providing there is a buyer locally left to make a sale.

Typical 1 million baht house last week would have been worth £15,384 @ 65 baht/£1

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

Sounds good in theory but buyers are not easy to find when recession hits the wider economy. Now you need a Thai to buy rather than looking perhaps for another farang.

[BEENTHEREDONETHAT]

Can anyone explain why when I type a response into ThaiVisa the letters and words all appear in reverse order? Seriously, I've no idea what is going on and have never seen this before – this post is a copy and paste from Word.

!sneppah tahw si siht ,em eveileb t'nod uoy esac ni tsuj dnA

Talking of having no idea about what's going on it does look as though USD/GBP has improved a little so maybe a chance to trade GBP for USD, my money says it will continue to show profit after some form of correction.

That is interesting, does it happen just on TV or on word when you copy it??

[BEENTHEREDONETHAT]

Maybe a good time soon to sell off anything owned in LOS and bring funds back to UK. Under current ex-rates the assets are worth more sold now than before so some people may think of selling houses and land at a profit providing there is a buyer locally left to make a sale.

Typical 1 million baht house last week would have been worth £15,384 @ 65 baht/£1

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

Sounds good in theory but buyers are not easy to find when recession hits the wider economy. Now you need a Thai to buy rather than looking perhaps for another farang.

You could make a few quid there Jay, but I agree finding a buyer most anywhere now is mostly wishful thinking . But then you can be thankful you have a house to live in.

[englishoak]

We know that the Thai economy is dependent upon goods and food exports, that orders for goods are down, and that the price of rice (the backbone of last year's budget surplus) have dropped dramatically.

Thailand's receipts are heading south and they are spending money propping up the Baht - This is not a new tactic - Business is down, put up the prices.

We also know the rest of the world is heading into recession - Talk to people in the UK/US/OZ/Europe and they are all saying the same thing - They are cutting back spending - consolidating what they have ready for the hard times to come.

What are the Thais doing - The Baht is up, imports are cheap - Spend today and S0d tomorrow

GH I believe you are correct, If my wife talks to any of her friends or business contacts there is the impression that everything is fine, she says it's the usual Thai thing to pretend everything is fine regardless. There is so much focus on the political situation that it seems the general Thai public have barely heard of the world economic crisis. Certainly the belief is that it's a farang problem and not relevent to Thailand. The only concept a few have grasped is that there are an awful lot less tourists around, regardless of wether they are from Europe or Asia.

I will be going back to Thailand in December and for the first time in my life I am booking hotels in Thailand over the net and paying in £ rather than booking in thailand and paying Bht. the discounts are massive, as much as 70% and when you can pay in £ it hedges against the currency exchange.

I think that BOT will run out of money to prop up the Bht long before this world crisis abates. I don't see it getting any better this side of xmas but once the US election is done and the refinancing of loans comes around over the next quarter I expect round two will begin. That is when the fun will realy begin, Factories in China are already closing enmasse, the China economy needs at least 6% growth just to keep the masses employed. Now whatever insulation Asia has from Sub prime, Euro/ Dollar, banking Crisis, it most certainly will be affected if China catches the Economic Flu. That is looking more and more likely as things unwind.

Here in the UK the brakes are locked firmly on. The entire Retail industry is on massive % discount sales 70% in some cases already, After xmas and new year who knows mabe as much as 90% certainly a lot of closing down sales. As for the order books I know a few Buyers in retail and other sectors ALL of them are 70% reduced on buying orders from Asia in the next two quarters. These are big numbers. Interestingly I asked them if they were still buying from Thailand, They ALL said no and most had'nt even considered it in 08. Going forward some of them had even taken Thailand off the list as potential suppliers until either the Bht weakened or £ strengthened. I can't see Thailand being immune to world turmoil for much longer and feel the bubble that seems to be wrapped around the thai economy is going to have to pop. The longer they leave it the worse it will be.

Whatever BOT does it is going to be very unpopular, its clear that even the present course is unsustainable for much longer, I wonder if we will see bailouts of Thai banks and businesses or mabe by then the BOT will have spent too much supporting the Bht. I'd hate to see the IMF return to Thailands shores.

Edited October 24, 2008 by englishoak

[chiang mai]

Can anyone explain why when I type a response into ThaiVisa the letters and words all appear in reverse order? Seriously, I've no idea what is going on and have never seen this before – this post is a copy and paste from Word.

!sneppah tahw si siht ,em eveileb t'nod uoy esac ni tsuj dnA

Talking of having no idea about what's going on it does look as though USD/GBP has improved a little so maybe a chance to trade GBP for USD, my money says it will continue to show profit after some form of correction.

That is interesting, does it happen just on TV or on word when you copy it??

And now the problem has gone away, methinks maybe I have a virus. The problem was initially just on TV postings, typing into Word was not a problem and that could be cut and pasted - but shortly thereafter problem showed up when typing into the Google search box also - time to do some research but not on GBP/USD.

[midas]

Well surely the Thai Baht would not stay this strong

if this happened ..................?

Todays Bangkok Post

'A matter of time'

Coup fears are rife and some believe it is just a matter of time before the tanks are again on Bangkok streets. ANALYSIS By Wassana Nanuam

Despite widespread rumours of another military coup, Prime Minister Somchai Wongsawat has left the country on a trip to Beijing, apparently confident that that it is only idle speculation.

The rumours have been intensifying since army chief Gen Anupong Paojinda went on national television last week to urge Prime Minister Somchai Wongsawat to resign over the violent suppression of People's Alliance for Democracy protesters by police on Oct 7. He was accompanied by the chiefs of the navy, air force and police force.

Mr Somchai refuses to resign.

"Right now, people fear there may be another coup," said Chulalongkorn University political analyst Panitan Wattanayagorn on Thursday.

"Relations between the military leaders and Prime Minister Somchai Wongsawat have soured. I think that under such circumstances everything seems to point to a coup.

"It is only a matter of time."

If the military took over it would lead to the formation of a national government of unity which would bring all parties together, he said. But it must be done quickly to avoid possible political chaos.

Mr Somchai flew to Beijing on Thursday to attend the two-day summit of the Asia-Europe Meeting that begins on Friday.

It is Mr Somchai's first foreign trip since he was sworn in to office.

The situation is similar to the lead-up to the Sept 19, 2006 coup when former prime minister Thaksin Shinawatra was in New York to address the United Nations general assembly.

The army took advantage of his absence to topple his government.

An army source said the army is keeping an eye on Mr Thaksin's plan for a phone-in interview during a talk show on NBT on Nov 1. He might criticise some important people, the source said.

Gen Anupong on Tuesday signed an order changing the assignments of 141 colonels in three powerful regiments based in Bangkok. Although it was a seasonal reshuffle, the officers control the forces that are the key to a coup.

"The military does not want to stage a coup. In this situation, there is no knowing how to solve the problem. Everyone is now speaking of a coup as a solution," said the commander of an infantry regiment in Bangkok, who asked not to be named.

Former deputy police chief Salang Bunnag's plan to reclaim Government House from the PAD is also seen as a factor contributing to a possible coup.

He has announced plans to mobilise government supporters to seal off the Government House grounds where PAD supporters are and cut off their food and water supplies for three days.

[Livinginexile]

The pound is at 50 bht today...

Thank god I am paid in US$.

Aussie $ is 20 bht today.

[djinn]

Thai logic at its best,

Baht stronger but export market are desapearing

and cherry on the cake (if I can say) ;today countries like South Africa Ukraine Pakistan and SOUTH KOREA are asking urgent help from the IMF.Their rand... kopeck... (lol) are falling.

Korean won lost 30% the last months against dollar (source BBC world this morning)

So

Is thai economy so gooood ,political stability so goood,they do better then Korea?

On monday I go take my retirement visa reniewal and in the afternoon my baths go back to Europ

Hope no coup during WE

[Maestro]

The following two topics which Steverino started today within two hours of each other have been merged with this topic:

53.8 Baht To The Pound !, What's going on? Can someone explain.. – Today, 2008-10-24 11:25:08

53.66 As Of 12.26 Uk Time, see link – Today, 2008-10-24 13:27:11

Steverino is kindly requested not to start new topics on this subject.

--

Maestro

[VegasVic]

Thai logic at its best,

Baht stronger but export market are desapearing

and cherry on the cake (if I can say) ;today countries like South Africa Ukraine Pakistan and SOUTH KOREA are asking urgent help from the IMF.Their rand... kopeck... (lol) are falling.

Korean won lost 30% the last months against dollar (source BBC world this morning)

So

Is thai economy so gooood ,political stability so goood,they do better then Korea?

On monday I go take my retirement visa reniewal and in the afternoon my baths go back to Europ

Hope no coup during WE

The answer is no! The BOT does have a very nice surplus of Dollars and early on before this worlwide crisis escalated they made a calculated move to support the baht by selling their Dollar reserves! Should the Dollar continue its strengthening trend for many more months to come it will be intersting to see if the BOT throws in the towel at some point in time?

[Naam]

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

1 million Baht "houses" do not exist

[Marvo]

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

1 million Baht "houses" do not exist

So where does your dog live Naam?

[Naam]

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

1 million Baht "houses" do not exist

So where does your dog live Naam?

there's a "dog room" in our house. in olden times it was called "guestroom 2"... till the dog occupied it but as we hate guests we don't really mind

[DavidOxon]

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

1 million Baht "houses" do not exist

Why the quotation marks “houses” Naam?

Many houses round about us round about the million mark.

David

[Naam]

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

1 million Baht "houses" do not exist

Why the quotation marks “houses” Naam? Many houses round about us round about the million mark.

David

actually i am aware of that David and i humbly apologise for my rather arrogant remark which does however apply to the area i am living. i also admit that sometimes i am even quite envious and admire those living in the boonies, having a thai wife and an extended family of artisans which enables them to build a comfortable house at a fraction of the cost a farang with a non-thai wife (like me) is able to build one. i repeat: please accept my apology.

[philstone]

The BOT is spending its Dollar reserves in order to prop up the currecncy! I wonder just how much longer this can go on as there are already calls from some of the other governors at the BOT to devalue the baht. Ms. Tarissa is either one very smart lady or she will be out of a job very soon, and quite frankly I really don't know which it is?

Never mind the calls for the Baht to be devalued - at some time down the line the Thai Dollar reserves are going to run out.

We should not forget that it is not so many months back that the discussion here on TV (and in the Thai press) was of Thai Banks that are in financial difficulty - from memory the Thai Military Bank was one such candidate for financial problems. And remember these where internal Thai problems not relating to the global liquidity that is hitting the banks in the US and UK.

What do we know?

We know that the Thai economy is dependent upon goods and food exports, that orders for goods are down, and that the price of rice (the backbone of last year's budget surplus) have dropped dramatically.

Thailand's receipts are heading south and they are spending money propping up the Baht - This is not a new tactic - Business is down, put up the prices.

We also know the rest of the world is heading into recession - Talk to people in the UK/US/OZ/Europe and they are all saying the same thing - They are cutting back spending - consolidating what they have ready for the hard times to come.

What are the Thais doing - The Baht is up, imports are cheap - Spend today and S0d tomorrow.

Keep an eye out for the "Select Few" in the Thai government (and their connections) buying Dollars - Do not go kidding yourself that the shed load of 'Free Money' to had by a swift transaction followed by a devaluation is not too tempting for those who make the decisions around Thailand.

The America Banks British Banks and the Iceland are falling, but the Thailand banks are the strongest may all who write good English put their last saving into Thai Banks.

[Guest madcow]

The America Banks British Banks and the Iceland are falling, but the Thailand banks are the strongest may all who write good English put their last saving into Thai Banks.

I would think anyone with some Thai Baht would be far better advised to be buying one of the cheap currencies ie Euro or Aus $

[philstone]

Typical 1 million baht house today is worth £18,867 @ 53 baht/£1

1 million Baht "houses" do not exist

Last week you week right but next month most homes will be under 500,000 baht. I hope you understand and believe my writing.

Sell Sell Sell Sell Sell Sell Sell

Edited October 25, 2008 by philstone

[Gary A]

Not long ago a small group of Brits were cheering and gloating the demise of the US Dollar. The more the Dollar dropped, the louder they cheered. It now appears the shoe is on the other foot. Not much fun is it?

Those who already have property in Thailand should be quite pleased. As for myself, the increase or decrease in the value of my property means little. I didn't buy property for an investment and have no intension of selling. With the sickening crash of the stock market, I now have more assets in Thailand than I have in the USA. Actually I have lost nothing because I have not sold any of my meager holdings. Maybe the value will return and if it doesn't my children will just inherit a lot less.