Is A Falangs Money Safe In A Thai Bank

[bluesmith]

Just was chatting to a German friend says he read on the net that frangs money is not garanteed in a THAI bank any body have any info on this.

[H2oDunc]

I believe all money in Thai banks has been guarenteed for 3 years. It will then reduce over the following years till it goes back to just 1 million baht which is guarenteed. I like most people up to a year ago believed thatif you put money in the bank all of it was safe. It tuns out very little of it is as has been shown over the past few months. I started to look into the banking system and ad my eyes opened so wide it hurt. In any other business what the banks do would be criminal but we let the banks get away with it. I had some americans diving the other week. I tried to explain that the Federal Reserve has nothing to do with the Government and is a wholly private organisation which prints the money and charges the USA interest It pays NO taxes and the US Governmet has NO say in the running of it ! A crazy system run by a small elite who control the flow of money. Google " fractional reserve banking " and see what it actually means.

[billd766]

A bit tricky that one for me as I have a joint account with my wife as well as one of my own and my wife has one for herself too.

Mine has about 200 baht, my wife has more and together ours has more again.

[Mattchu9999]

I believe all money in Thai banks has been guarenteed for 3 years. It will then reduce over the following years till it goes back to just 1 million baht which is guarenteed. I like most people up to a year ago believed thatif you put money in the bank all of it was safe. It tuns out very little of it is as has been shown over the past few months. I started to look into the banking system and ad my eyes opened so wide it hurt. In any other business what the banks do would be criminal but we let the banks get away with it. I had some americans diving the other week. I tried to explain that the Federal Reserve has nothing to do with the Government and is a wholly private organisation which prints the money and charges the USA interest It pays NO taxes and the US Governmet has NO say in the running of it ! A crazy system run by a small elite who control the flow of money. Google " fractional reserve banking " and see what it actually means.

Right!

Now answer me this why does President Andrew Jackson have the words "I killed the bank" carved on his headstone?