UK Pound Collapse 47.99 against the Baht

[marshbags]

Can someone please explain what the NHS an hospital treatment, entiltlement to pensions has to do with the title of this topic?

You expect the odd off topic post, but this thread has been hijacked!

Well said loong, and yes it certainly seems to be changing to another subject matter that is already covered and currently running in the health, body and medicine forum.

As a contributor to it, my reaction when reading the latest comments on this thread was a little confusing to say the least.

No offence intended to anyone.

Ref url :- http://www.thaivisa.com/forum/Uk-Nationals...25#entry3391425

marshbags

Edited March 7, 2010 by marshbags

[NanLaew]

I have not been resident in, nor paid taxes or NI to UK since 1982. I would not expect to get free medical treatment in UK.

I haven't been resident, paid taxes or made NI contributions in the UK since 1976.

I got free treatment.

Twice!

This topic has drifted but that's largely because the more recent UK retirees who were happy to fork out (for example) 2000 baht a couple of years ago to get a boil lanced at the numerous high-quality private hospitals around LOS now think that's paeng mahk and want the job done back home on the NHS. Not an unreasonable request IMHO.

Sort of explains the spike in requests for cheapo cheapo airfares to the UK as well.

[HalfSquat]

Clothes like t-shirts & cheap day wear can be got in Uk much cheaper & better quality than Thailand.

Thailand is not nearly as cheap as people think imo.

That surprised me when I came out. We need a Primark out here! Looking forward to going back to the UK to stock up on some essentials.

Is it common for most Western origin companies operating in Thailand to use a fixed exchange rate or capped to pay their expat employees living in Thailand?

[mommysboy]

not good... not good at all...

Oohps, it might go to 30.

The UK, as the USA, are bankrupt, why would Thailand take in printed cotton in exchange for money?

My fears are for the Euro, still backed by D, F, Benelux, but for how much longer seems to be the question...

We call it Game Over.

Regards

Are you sure they are bankrupt? Very big public defecits sure. Oh well, what do you suggest boarding up Great Britain and evicting its residents?

[roamer]

not good... not good at all...

Oohps, it might go to 30.

The UK, as the USA, are bankrupt, why would Thailand take in printed cotton in exchange for money?

My fears are for the Euro, still backed by D, F, Benelux, but for how much longer seems to be the question...

We call it Game Over.

Regards

Are you sure they are bankrupt? Very big public defecits sure. Oh well, what do you suggest boarding up Great Britain and evicting its residents?

No.

But bankrupt they are.

Ripping of the world with the "Petro-Dollars" all the way, what is next?

You might not like it but it is time of reconing, and you have not been part of it, this i believe.

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Edited March 7, 2010 by roamer

[midas]

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Whether UK is really bankrupt or not could be debated endlessly but one thing appears pretty clear..........

UK and the pound face a dismal future

I mean after all the cr*p that the Labour Govt has fed to the UK citizens what with Iraq,

the expeses scandal, the bankers bailouts. etc etc.

the people dont seem to have anyone different to chose from.........so it could

be more of the same

Hung Parliament Watch: New Poll Shows UK Conservatives Crumbling

http://www.businessinsider.com/labour-lead...ted-hung-2010-3

[roamer]

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Whether UK is really bankrupt or not could be debated endlessly but one thing appears pretty clear..........

UK and the pound face a dismal future

I mean after all the cr*p that the Labour Govt has fed to the UK citizens what with Iraq,

the expeses scandal, the bankers bailouts. etc etc.

the people dont seem to have anyone different to chose from.........so it could

be more of the same

Hung Parliament Watch: New Poll Shows UK Conservatives Crumbling

http://www.businessinsider.com/labour-lead...ted-hung-2010-3

Agreed the future ain't bright for UK or Sterling, but that would remain the same whoever is in power. Tories have yet to convince anyone they have the answer, key is to avoid a hung parliament as that will hit sterling. Its not just the politicians, nor even the policies, just a drifting ship with no-one at the helm trying to avoid the rocks.

[WeeGB]

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Whether UK is really bankrupt or not could be debated endlessly but one thing appears pretty clear..........

UK and the pound face a dismal future

I mean after all the cr*p that the Labour Govt has fed to the UK citizens what with Iraq,

the expeses scandal, the bankers bailouts. etc etc.

the people dont seem to have anyone different to chose from.........so it could

be more of the same

Hung Parliament Watch: New Poll Shows UK Conservatives Crumbling

http://www.businessinsider.com/labour-lead...ted-hung-2010-3

Agreed the future ain't bright for UK or Sterling, but that would remain the same whoever is in power. Tories have yet to convince anyone they have the answer, key is to avoid a hung parliament as that will hit sterling. Its not just the politicians, nor even the policies, just a drifting ship with no-one at the helm trying to avoid the rocks.

I'm all in favour of a hung parliament - string the lot of the useless, lazy, thieving bar_stards up, preferably by their goolies, and start afresh.

Still think the baht will drop, in the future, I've never seen so many unemployed where we live, things are definitely not as rosy as they seem.

[MyFriend You]

Pound at USD 1.20 by mid year, GBP/THB around 40.

Right on - I have a German friend that buy's $$$ every chance he gets, because in his 65 years in Germany he knows one thing is solid - The US Dollar - it always comes back - predict $1 =.85 Euro by Aug this year - Russia & China will dump their Gold & Diamond reserves on the market this summer (since they peg their currency on the Euro, under the table of course) and watch the rest of the world scramble - Gold down to +- $700 an ounce by summer end. Oh, no I am not an economist - just read newspapers and watch financial TV -

[mommysboy]

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Whether UK is really bankrupt or not could be debated endlessly but one thing appears pretty clear..........

UK and the pound face a dismal future

I mean after all the cr*p that the Labour Govt has fed to the UK citizens what with Iraq,

the expeses scandal, the bankers bailouts. etc etc.

the people dont seem to have anyone different to chose from.........so it could

be more of the same

Hung Parliament Watch: New Poll Shows UK Conservatives Crumbling

http://www.businessinsider.com/labour-lead...ted-hung-2010-3

It's not clear at all, it's a bad time, but things go up and down, round and round.

Cobblers.

[Chaimai]

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Whether UK is really bankrupt or not could be debated endlessly but one thing appears pretty clear..........

UK and the pound face a dismal future

I mean after all the cr*p that the Labour Govt has fed to the UK citizens what with Iraq,

the expeses scandal, the bankers bailouts. etc etc.

the people dont seem to have anyone different to chose from.........so it could

be more of the same

It's not clear at all, it's a bad time, but things go up and down, round and round.

Cobblers.

I actually agree with MMB on this one.

[Spee]

I have a German friend that buy's $$$ every chance he gets, because in his 65 years in Germany he knows one thing is solid - The US Dollar - it always comes back

Your friend draws no correlation between current US money printing policy and the pre-WW2 Weimar Republic? He should. We're not there yet, but the risk of going there is very real. I doubt the GBP and Euro predictions because of it. The money is already printed. It's just not in circulation yet. If that happens, watch out for big time 1970's stagflation. I'd hate the see the baht go the way of the yen versus the dollar because of corrupt and irresponsible government.

Gold down to +- $700 an ounce by summer end.

I hope you are spot on with this one.

[OZEMADE]

I have a German friend that buy's $$$ every chance he gets, because in his 65 years in Germany he knows one thing is solid - The US Dollar - it always comes back

Your friend draws no correlation between current US money printing policy and the pre-WW2 Weimar Republic? He should. We're not there yet, but the risk of going there is very real. I doubt the GBP and Euro predictions because of it. The money is already printed. It's just not in circulation yet. If that happens, watch out for big time 1970's stagflation. I'd hate the see the baht go the way of the yen versus the dollar because of corrupt and irresponsible government.

Gold down to +- $700 an ounce by summer end.

I hope you are spot on with this one.

Well, youn should have bought GOLD at $900 an ounce and sold it when it got to $1200.

I will give you all a tip when I hear again.

[TonyH]

And it has been lower than 37.

When I sold up everything in the UK in 1986 it was down to 22 !!!!

I had sold my appartment in Wembly for 76,000Pounds - its now worth more than a Million...

Wow did I get it all wrong!

YIPPEE

Good news for me - I'm going to the UK this month.

Also, when I send money home to my mother, she gets more.

It isn't too bad for the pensioners - it was only 37 baht to the pound when I first came here in 1992.

It might make a few of the undesirable stay away from here, or go back too.

[moo9]

Everyone knows Thailand has been slowly outpricing itself over the last few years. It's now quite an expensive place to live, as an expat. Also, Thai visa regulations are only getting more strict, and costly.

Some have made comments on this thread about "going home." WHY???? If you can't afford Thailand, just move next door. Vietnam is a lot cheaper than Thailand. It has several beaches, good infastructure, good nightlife, good food and the locals are friendly. Sihanoukville - Cambodia has boomed in recent times. Vietnam is issuing 6 month multiple entry visas without a drama. Last time I visited Cambodia, they were issuing 12 month business visas, on arrival, for $25US.

A visit to these places will take you back, financially, to the "good old days" when Thailand was cheap. You can sit out the economic storm and go back to Thailand one day, or you just may decide you are happier there. No need to go home.

I understand some have children, or other responsibilities, but for those who do not, it's a viable option than returning to Europe.

Thailand is getting more expensive, no doubt, but compared with Europe it is still reasonably priced. If you would live your European Lifestyle in Thailand, you would spend less, but most of us have a different life style here, eating out often, bars, some nightlife etc., which is costly because you would not do it that often at home.

Cheers

[midas]

Well if your right then you better start looking for a new way of existence. If UK & USA are bankrupt, Eurozone heading there then there is no hope for the rest of it. Total utter drivel, get back in your cot.

Whether UK is really bankrupt or not could be debated endlessly but one thing appears pretty clear..........

UK and the pound face a dismal future

I mean after all the cr*p that the Labour Govt has fed to the UK citizens what with Iraq,

the expeses scandal, the bankers bailouts. etc etc.

the people dont seem to have anyone different to chose from.........so it could

be more of the same

It's not clear at all, it's a bad time, but things go up and down, round and round.

Cobblers.

I actually agree with MMB on this one.

OK can you please give me some examples of how the b financial

outlook of UK can be expected to go up ?

[CobraSnakeNecktie]

for the UK at least they still have their own currency. If they went euro they would be trapped like Greece, Ireland, Iceland, Spain, Portugul. Those countries who adopted the EUR cannot devalue their currencies and are stuck with increasing borrowing costs and no monetary policy tools. Ouch.

When a country can devalue its currency then it increases foreign investment and makes its exports more attractive.

From a currency traders outlook I think longterm the UK will be fine. The GBP may never be what it used to but its one of the few countries people want to move to. Lots of countries like Germany, Russia, Japan and even China will have a terrible time maintaining its workforce as the population age. People just aren't reproducing enough, interested in or allowed to move there.

The US has a very favorable immigration situation that will allow it to grow its workforce. The UK shares a favorable demographic future but they do need to get the budget in check in the short term and stop relying on foreign real estate investment.

Based on Fibonnacci theory the 1.20 GBP/USD is not out outlandish but the US also wants to devalue a bit to increase exports and makes its debt repayment cheaper. The 1.30 level is a more realistic bottom with a lot of resistance at the 1.40 level which will be tough to break.

[rufanuf]

Actually I know a couple of people who have done exactly that. One of them was a guy who sold up and went to live in the USA permanently, until he found 10 years later that he had a rare form of cancer and then returned to the UK, bought a flat and walked into a doctors surgery, signed up and got ongoing treatment for the cancer. They dont even ask in the NHS as the front line staff consider it their duty to treat people regardless.

Unfortunatly, for every one of those "sucess stories" there is (are) reports like these HERE And HERE

The web is closing in. We are a skint nation and therefore ANY cost saving methods will be tried.

I hope you arent of the opinion that the purse strings will magicially be opened to anyone upon their return. And dont just think i am talking only of NHS, either

If you are then would you like to buy a second hand bridge.....called Tower Bridge. I can sell it you cheap, good price for you

Penkoprod

THE WEB IS CLOSING IN!!!! That's a laugh, many expat from the west got out of the west becuase they was sick of paying for services thru tax that they never recieved, the web has 10s of millions trapped in it already, the lucky ones are those with the intellect to recognise they are mice on a wheel and to try and get out. Many western concepts of socilaism like the NHS simply are not sustainable in the long run becuase human nature does not yet have the integrity required to fulfil those commitments. If politicians can fiddle their expenses, mutliply that by a factor of how ever many workers there are in the public sector and you got the amount of money being stolen from taxpayers every single day, month and year. I paid 100,000s of thousands in tax in the UK, yet when i call the polcie becuase I was being burgled in broad daylight, nobody came...then I got sick, but still had to spend several thousand pounds on private healthcare becuase the NHS conveniently decided to create mechanism by which they could avoid giving a diagnoses. The UK tax system is a crock of sh*t and who could blame anyone from trying to escape from that corrupt regime? Thats why the pound will likely end up at parity with the baht if the people of the UK do not start taking back their country from the corrupt politicans and business people.

[Penkoprod]

THE WEB IS CLOSING IN!!!! That's a laugh, many expat from the west got out of the west becuase they was sick of paying for services thru tax that they never recieved, the web has 10s of millions trapped in it already, the lucky ones are those with the intellect to recognise they are mice on a wheel and to try and get out. Many western concepts of socilaism like the NHS simply are not sustainable in the long run becuase human nature does not yet have the integrity required to fulfil those commitments. If politicians can fiddle their expenses, mutliply that by a factor of how ever many workers there are in the public sector and you got the amount of money being stolen from taxpayers every single day, month and year. I paid 100,000s of thousands in tax in the UK, yet when i call the polcie becuase I was being burgled in broad daylight, nobody came...then I got sick, but still had to spend several thousand pounds on private healthcare becuase the NHS conveniently decided to create mechanism by which they could avoid giving a diagnoses. The UK tax system is a crock of sh*t and who could blame anyone from trying to escape from that corrupt regime? Thats why the pound will likely end up at parity with the baht if the people of the UK do not start taking back their country from the corrupt politicans and business people.

If you read my post in its entirety, you will see that is IS closing in on those that persist in believing that all they have to do is turn up at the borders and say "i'm back, feed me clothe me, make me well. I am entitled to it as of right. I paid into it" ...........etc etc. Which was my point

Read the links if they are still active and you will see that the reply to their requests is along the lines of "go forth and travel"

Nice rant you had though, huh? Feel better for it?

BTW, i agree with much of what you say. Just seems a waste of time saying it on here. We just make sure we dont get caught out by deluding ourselves into thinking that those "back home" give anything other than "a flying one" about those of us that choose to escape.

Just wait until the pension increases for expat pensioners is thrown out of court again for the final time. THEN the screams will be unmerciful, from what i call the naively arrogant !!!!!

Penkoprod

[CaptHaddock]

Thailand's two main industries are tourism and exporting food products.

Nope. Tourism is about 6% of GDP. Agriculture, forestry, and fishing combined only contributed about 8% to GDP in 2008. Manufacturing, by contrast, was %34 in 2008.

http://en.wikipedia.org/wiki/Economy_of_Thailand

[elliss]

People have been warned about the current slide in sterling for months. If you've still got lots of cash in sterling then you've only yourself to blame.

CORRECT ,,

i transferred when GBP , was at 65 bht ..

be very lucky , if it returns to 55 ..

[HardenedSoul]

for the UK at least they still have their own currency. If they went euro they would be trapped like Greece, Ireland, Iceland, Spain, Portugul. Those countries who adopted the EUR cannot devalue their currencies and are stuck with increasing borrowing costs and no monetary policy tools. Ouch.

When a country can devalue its currency then it increases foreign investment and makes its exports more attractive.

Perhaps devaluing the currency will help in the short term but when you consider that the UK has to borrow £200 billion this year, next year and the year after, you have to ask who is going to buy gilts - the majority of which aren't inflation-protected - without demanding sky-high yields. Can Britain afford to pay 7%+ to borrow from investors ? As has been said time and time again, Britain's exports are irrelevant. The 25% debasement of the currency since the crisis began hasn't helped the trade balance - Mervyn King admitted as much last month.

The notion that devaluing a currency is the way to dig a country out of its hole is pure folly and will ultimately lead to greater hardship

[lovelomsak]

The pound is now really, seriously collapsing... 47.99 at Krungsri this morning. How low can it go? I recently read a suggestion it could get to 45-ish...

Pattaya will be a ghost town - I guess many of the girls will simply pack their bags and go back to Isaan.

If the Thai gov fails to repeg the baht/dollar rate, the planes from the UK are going to be empty.

Also, quite a few expats will not be able to survive here at 45b/pound - some will have to go home I guess...

This great news. I am a Canadian and my dollar is 10% to 15% higher right now than last year. Things just keep getting better. Strong dollar and less brits to deal with. There really is somew justice in this world.

[CobraSnakeNecktie]

for the UK at least they still have their own currency. If they went euro they would be trapped like Greece, Ireland, Iceland, Spain, Portugul. Those countries who adopted the EUR cannot devalue their currencies and are stuck with increasing borrowing costs and no monetary policy tools. Ouch.

When a country can devalue its currency then it increases foreign investment and makes its exports more attractive.

Perhaps devaluing the currency will help in the short term but when you consider that the UK has to borrow £200 billion this year, next year and the year after, you have to ask who is going to buy gilts - the majority of which aren't inflation-protected - without demanding sky-high yields. Can Britain afford to pay 7%+ to borrow from investors ? As has been said time and time again, Britain's exports are irrelevant. The 25% debasement of the currency since the crisis began hasn't helped the trade balance - Mervyn King admitted as much last month.

The notion that devaluing a currency is the way to dig a country out of its hole is pure folly and will ultimately lead to greater hardship

so what is your prediction? GBP parity with the USD? GBP/JPY? GBP/CHF?

Sure it looks bad for the UK but what is the outcome? your predicting liquidation or something?

[chiang mai]

The pound is now really, seriously collapsing... 47.99 at Krungsri this morning. How low can it go? I recently read a suggestion it could get to 45-ish...

Pattaya will be a ghost town - I guess many of the girls will simply pack their bags and go back to Isaan.

If the Thai gov fails to repeg the baht/dollar rate, the planes from the UK are going to be empty.

Also, quite a few expats will not be able to survive here at 45b/pound - some will have to go home I guess...

This great news. I am a Canadian and my dollar is 10% to 15% higher right now than last year. Things just keep getting better. Strong dollar and less brits to deal with. There really is somew justice in this world.

So Pattaya will be a ghost town if all the Brits leave and the Thai government needs to repeg THB/USD! Lovelomsak, stop imbibing or inhaling your substance of choice, it's doing your brain no good at all.

[chiang mai]

GBP/USD, around 1.05/1.10, GBP/THB around 37/42, before end third quarter.

[waza]

Ah yes but this is misleading, its interesting to note that the same page states......In 2007 the services sector, which ranges from tourism to banking and finance, contributed 44.7% of gross domestic product and employed 37 percent of the workforce.....The service industry would also include massage shops, bars, beauty salons ect. One could argue that these are also related to tourism.

[HardenedSoul]

so what is your prediction? GBP parity with the USD? GBP/JPY? GBP/CHF?

Sure it looks bad for the UK but what is the outcome? your predicting liquidation or something?

No parity with USD. The dollar is just as compromised as sterling and the euro but investors - albeit fewer than during the last round of deleveraging a year ago- still perceive it to be a safe-haven. $1.20 or thereabouts but almost certain parity with the euro.

I predict a gilts strike and a return to quantitative easing before the year is out.

http://blogs.telegraph.co.uk/finance/jerem...-boost-exports/

This report in the Telegraph shows what I mean about UK exports.

I converted all my sterling cash to Canadian dollars just under a year ago and haven't regretted it but ultimately, all paper-currencies are being devalued - it's just just some are dropping like anvils whilst others are floating downwards like feathers.

[thaijasmine]

GBP/USD, around 1.05/1.10, GBP/THB around 37/42, before end third quarter.

39 baht by the end of 2010

http://www.thaivisa.com/forum/Pound-Starti...0&start=350

[Edmond]

This great news. I am a Canadian and my dollar is 10% to 15% higher right now than last year. Things just keep getting better. Strong dollar and less brits to deal with. There really is somew justice in this world.

The British North America history lessons at school still eating away at you?