chiang mai Posted January 21, 2009 Author Share Posted January 21, 2009 CM,Slur on your character? Really? You have my appologies. For what, I will bite my tongue. Only making the point that people seeing their homes as a profit making tool, is what got us into this mess as a first place. You made this point, and if you do not see the irony, then I really don't know what to tell you. Good luck with your real estate investments, and once again my appologies. No apologies necessary but thank you any way, I forgot to put a smile(ie) at the end of my post to imply that I was being mischievous in my opening remark. Link to comment Share on other sites More sharing options...
Naam Posted January 21, 2009 Share Posted January 21, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? who or what is a Farang/Thai? Link to comment Share on other sites More sharing options...
pkrv Posted January 21, 2009 Share Posted January 21, 2009 (edited) Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? who or what is a Farang/Thai? OK that took me by surprise - As you look at Thailand you do it from your own perspective. We (I) are a Farang/Farang couple - so can only consider (and only considered freehold) a condominium which we now own - Rental well thats another story. We have our own perspective on Thailand it is different to yours, I know this because you have been quite open. You are a Farang/Thai relationship I think, you are in a different 'aspect' to ourselves, however (apart from the farm aside ) you are the wealth holder. That may not be the case in all instances. If the Thai partner brings in wealth the situation changes dramatically. This is a GBPTHB= issue. Does that make sense? Edited January 21, 2009 by pkrv Link to comment Share on other sites More sharing options...
Naam Posted January 21, 2009 Share Posted January 21, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? who or what is a Farang/Thai? OK that took me by surprise - As you look at Thailand you do it from your own perspective. We (I) are a Farang/Farang couple - so can only consider (and only considered freehold) a condominium which we now own - Rental well thats another story. We have our own perspective on Thailand it is different to yours, I know this because you have been quite open. You are a Farang/Thai relationship I think, you are in a different 'aspect' to ourselves, however (apart from the farm aside ) you are the wealth holder. That may not be the case in all instances. If the Thai partner brings in wealth the situation changes dramatically. This is a GBPTHB= issue. Does that make sense? you thought wrong and you caused another question "what do you mean by apart from the farm aside?" Link to comment Share on other sites More sharing options...
pkrv Posted January 21, 2009 Share Posted January 21, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? who or what is a Farang/Thai? OK that took me by surprise - As you look at Thailand you do it from your own perspective. We (I) are a Farang/Farang couple - so can only consider (and only considered freehold) a condominium which we now own - Rental well thats another story. We have our own perspective on Thailand it is different to yours, I know this because you have been quite open. You are a Farang/Thai relationship I think, you are in a different 'aspect' to ourselves, however (apart from the farm aside ) you are the wealth holder. That may not be the case in all instances. If the Thai partner brings in wealth the situation changes dramatically. This is a GBPTHB= issue. Does that make sense? you thought wrong and you caused another question "what do you mean by apart from the farm aside?" Thanks it helps put things into perspective, Farang/Farang for you? I made the assumption as you said your wife owned farm land. This is tricky as a Farang. OK as a final defence, a farm may well be the best bet. Were you kidding when you said you jokingly tried to down play your wife’s decision on this farm issue? This is all important stuff it places us all in perspective on this topic. Link to comment Share on other sites More sharing options...
Naam Posted January 21, 2009 Share Posted January 21, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? who or what is a Farang/Thai? OK that took me by surprise - As you look at Thailand you do it from your own perspective. We (I) are a Farang/Farang couple - so can only consider (and only considered freehold) a condominium which we now own - Rental well thats another story. We have our own perspective on Thailand it is different to yours, I know this because you have been quite open. You are a Farang/Thai relationship I think, you are in a different 'aspect' to ourselves, however (apart from the farm aside ) you are the wealth holder. That may not be the case in all instances. If the Thai partner brings in wealth the situation changes dramatically. This is a GBPTHB= issue. Does that make sense? you thought wrong and you caused another question "what do you mean by apart from the farm aside?" Thanks it helps put things into perspective, Farang/Farang for you? I made the assumption as you said your wife owned farm land. This is tricky as a Farang. OK as a final defence, a farm may well be the best bet. Were you kidding when you said you jokingly tried to down play your wife’s decision on this farm issue? This is all important stuff it places us all in perspective on this topic. i was not kidding because that was before the crisis. now with hindsight i find her decision quite appropriate although the land was/is not earmarked for our personal but for welfare use. your assumption that the farm land is located in Thailand was a logical one but does not apply. whatever, i hope it won't be mandatory for me in future to operate a tractor-plough or a combined harvester or collect eggs from a chicken coop Link to comment Share on other sites More sharing options...
bangon04 Posted January 21, 2009 Share Posted January 21, 2009 I think the danger of bank collapse is not so great today as it was six months ago. Governments everywhere have taken action to ensure that consumer deposits don't get damaged as a result of this mess, Iceland and Lehman Brothers notwithstanding. Also, isn't BBI part nationalized now, I've lost track. But what about Thai banks? Can one of the experts summarise the potential for bank failures in Thailand? My first presumption is that any guarantee or bail-out will not apply to Farang accounts, whatever the small print says now.... Link to comment Share on other sites More sharing options...
pkrv Posted January 21, 2009 Share Posted January 21, 2009 (edited) I think the danger of bank collapse is not so great today as it was six months ago. Governments everywhere have taken action to ensure that consumer deposits don't get damaged as a result of this mess, Iceland and Lehman Brothers notwithstanding. Also, isn't BBI part nationalized now, I've lost track. But what about Thai banks? Can one of the experts summarise the potential for bank failures in Thailand? My first presumption is that any guarantee or bail-out will not apply to Farang accounts, whatever the small print says now.... I would say the chances are just about zero <edit Oh good grief that could be misinterpreted - Zero chance of of a Thai bank failing> Edited January 21, 2009 by pkrv Link to comment Share on other sites More sharing options...
chiang mai Posted January 21, 2009 Author Share Posted January 21, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? What's that you say, Dr Naam paying compliments, whatever is the world coming to that people should think such things! Seriously, the good doctor is a fine wit with a good mind, a rare combination and more often than not a pleasurable and informative read. (I look forward to receiving your cheque as discussed Naam). But even more seriously: no I am not in a Thai/Farang financial position although my finances are by virtue of the fact that I live in Thailand and I have Thai financial assets. As a consequence I think of things in monetary terms that can be read across currencies although 95% of my investment holdings are GBP based. Does that help clarify? Link to comment Share on other sites More sharing options...
Naam Posted January 21, 2009 Share Posted January 21, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? What's that you say, Dr Naam paying compliments, whatever is the world coming to that people should think such things! Seriously, the good doctor is a fine wit with a good mind, a rare combination and more often than not a pleasurable and informative read. (I look forward to receiving your cheque as discussed Naam). a deplorable development! in future i have to be more specific with my wording. after all... i am striving for the title "most hated contributor on Thaivisa". Link to comment Share on other sites More sharing options...
cclub75 Posted January 22, 2009 Share Posted January 22, 2009 To GBP holders.... you'd better read this. All the Mike Shedlock's calls since 2005 have been right so far.... http://globaleconomicanalysis.blogspot.com...rs-on-edge.html Link to comment Share on other sites More sharing options...
pkrv Posted January 22, 2009 Share Posted January 22, 2009 (edited) Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? What's that you say, Dr Naam paying compliments, whatever is the world coming to that people should think such things! Seriously, the good doctor is a fine wit with a good mind, a rare combination and more often than not a pleasurable and informative read. (I look forward to receiving your cheque as discussed Naam). But even more seriously: no I am not in a Thai/Farang financial position although my finances are by virtue of the fact that I live in Thailand and I have Thai financial assets. As a consequence I think of things in monetary terms that can be read across currencies although 95% of my investment holdings are GBP based. Does that help clarify? Hi Chang Mai - see told you it was a compliment . Thanks for the clarification. The reason I asked was because, quite correctly, we are mostly looking at this from a bringing GBP to Thailand perspective. But if you have a Thai income (as you do) or Thai assets they have gone through the roof in GBP terms. For example I am seeing a 115% (ish) paper profit (in GBP terms) on my own condominium in the last couple of years alone. If I were Thai or had a Thai income now may be a good time to consider the UK purely from an exchange rate point of view. Or I suppose if you are planning on heading back and selling up the same may apply. But I have no intention of selling so have not researched this type of thought process. As I say we all look at this from our own perspectives and it can cause confusion, which has since been cleared up - thanks guys Edited January 22, 2009 by pkrv Link to comment Share on other sites More sharing options...
chiang mai Posted January 22, 2009 Author Share Posted January 22, 2009 Hi chiang mai - I think very oddly Naam is paying you a very deep compliment he is watching how you think. The only oddity I noted was I think you are Farang/Thai and this may be causing confusion. Is your perspective that a Thai income could now be used to effect a UK life style, taxes etc aside? What's that you say, Dr Naam paying compliments, whatever is the world coming to that people should think such things! Seriously, the good doctor is a fine wit with a good mind, a rare combination and more often than not a pleasurable and informative read. (I look forward to receiving your cheque as discussed Naam). But even more seriously: no I am not in a Thai/Farang financial position although my finances are by virtue of the fact that I live in Thailand and I have Thai financial assets. As a consequence I think of things in monetary terms that can be read across currencies although 95% of my investment holdings are GBP based. Does that help clarify? Hi Chang Mai - see told you it was a compliment . Thanks for the clarification. The reason I asked was because, quite correctly, we are mostly looking at this from a bringing GBP to Thailand perspective. But if you have a Thai income (as you do) or Thai assets they have gone through the roof in GBP terms. For example I am seeing a 115% (ish) paper profit (in GBP terms) on my own condominium in the last couple of years alone. If I were Thai or had a Thai income now may be a good time to consider the UK purely from an exchange rate point of view. Or I suppose if you are planning on heading back and selling up the same may apply. But I have no intention of selling so have not researched this type of thought process. As I say we all look at this from our own perspectives and it can cause confusion, which has since been cleared up - thanks guys I don't think I have any real intentions of taking profit on THB and returning to live in the UK either but I like to do a sanity check periodically and see how the numbers come out. I've determined that in my particular case an exchange rate of 55 Baht per Pound is the point where the financial benefits of living in either country is identical although that number will differ from person to person based on the factors used. Anything over 55 Baht per Pound means I have added justification for remaining here whilst anything under 55 means Thailand is more costly. I am in the fortunate financial position where the exchange rate would need to drop well below 35 before the overall impact on savings and investments is such that I ought to consider moving for financial reasons alone. But knowing these things helps me to decide how I might want to adjust my future investment plans, for example, I can easily see a scenario developing whereby I might once again buy UK property instead of Thai real estate because it will make financial sense to do so plus it will allow me to divide my time between the two countries more easily and add more variety and contrast into my life. Link to comment Share on other sites More sharing options...
pkrv Posted January 22, 2009 Share Posted January 22, 2009 OK guys we are about at 48 - I think this is the most clear message you can possibly get that you need local funds/assets - transfer in the good times - PKRV - Mind you I stick to my prediction! Link to comment Share on other sites More sharing options...
samuibeachcomber Posted January 22, 2009 Share Posted January 22, 2009 OK guys we are about at 48 - I think this is the most clear message you can possibly get that you need local funds/assets - transfer in the good times - PKRV - Mind you I stick to my prediction! you dont think the pound will go lower? by having local funds,do you mean working here and having an income in thai baht? by assets do you mean selling a property to get cash rather than transfer money over at a bad exchange rate. In a perfect world we would all transfer when the rate is good and in our favour,but its not always possible.for example someone might consider 55baht to the pound very good in the current climate and transfer money over,only to find out next week its hit 65 baht.the vagaries of the exch. rate cannot always be fathomed.it can be a proverbial pain in the arse. Link to comment Share on other sites More sharing options...
pkrv Posted January 22, 2009 Share Posted January 22, 2009 (edited) OK guys we are about at 48 - I think this is the most clear message you can possibly get that you need local funds/assets - transfer in the good times - PKRV - Mind you I stick to my prediction! you dont think the pound will go lower? by having local funds,do you mean working here and having an income in thai baht? by assets do you mean selling a property to get cash rather than transfer money over at a bad exchange rate. In a perfect world we would all transfer when the rate is good and in our favour,but its not always possible.for example someone might consider 55baht to the pound very good in the current climate and transfer money over,only to find out next week its hit 65 baht.the vagaries of the exch. rate cannot always be fathomed.it can be a proverbial pain in the arse. I think 'chiang mai' said it more softly than I did That hits the nail on the head. Someone told me several months ago that the most important thing to do was to decide on which is my home currency and most Brits will probably find that very hard to do. The home currency is the one you spend every day, not the one you invest in or think is stronger or better - I think most British expats have probable devised a strategy for Sterling and not for Baht and that has cost them. I do have positive long term projections for GBPTHB= but they are 11 months to 1 year 11months out - Why do I say that? It is because this type of time frame is built into the market. It used to be six months but now I think the time scale is longer. Short term sharks/predators/animals make their money during this time - I don't know about the short term stuff. Edited January 22, 2009 by pkrv Link to comment Share on other sites More sharing options...
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