UK Pound Collapse 47.99 against the Baht

[mommysboy]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

[mommysboy]

Even at these exchange rates the comparison of cost of living is still worlds apart between here and the UK.

Here:

No council tax.

Electric and water has been FREE on many occasion when the monthly bin has arrived at our post box.

Food and water is as cheap as chips, literary.

Public transport is the equivalent to pennies.

It only costs allot here when you go out spending like there's no tomorrow in the bars/clubs. Live sensibly and it is, still, very cheap here.

I'm far from skint but I would rather be here than London getting by, day to day, standing in the Job center Que along side Mr Polanski who doesn't speak a word of English with offers of work for a shilling a day and a horse shit sandwich in the miserable cold, damp, depressing weather.

It costs a lot if you get ill out here too, that's often overlooked. If you don't have a good health policy pity you.

I think the big difference between UK and Thailand is housing costs and bills. Chalk and cheese really. And as the poster says the rest is in your own hands really, blow it down Nana or wherever, or spend wisely and have a decent life, the like of which you might not be able to afford elsewhere.

The things I can/could do out here - go to restaurants often, watch EPL football at home. Not bad for starters. And if I weren't in a relationship, lets be honest a night out at Neon agogo now and then is a sight cheaper and more productive than Blighty.

[Chaimai]

WHat is all this SUB 50bhat nonesense!?????

just sent money from Barclays to Thai account at 53bht to the pound!!

dizzy bint at the bank reckoned "don't buy bhat here, you'll get a better rate in THailand!!"

SO there where have it folks! Panic over..

BTW, it quotes 49.217 on their FE WEB PAGE

What HAVE you been drinking Loz ?

[Neeranam]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

Rubbish - they've paid their dues.

Unfortunately I have only paid NI contributions for 6 years so won't be entitled to a pension in 23 years. Nevermind, I'll get some from the Thai government.

[Naam]

WHat is all this SUB 50bhat nonesense!?????

just sent money from Barclays to Thai account at 53bht to the pound!!

dizzy bint at the bank reckoned "don't buy bhat here, you'll get a better rate in THailand!!"

SO there where have it folks! Panic over..

BTW, it quotes 49.217 on their FE WEB PAGE

What HAVE you been drinking Loz ?

perhaps he inhalted it

[Tolley]

Anyone retiring in Thailand should really have their money in a basket of currencies.

You need to hedge your bets a little when it comes to currencies and having all your money in one currency is not really a good strategy.

For people who depend wholly on overseas pensions obviously this is not possible but trying to live on an overseas pension in Thailand will become more difficult I think as Thailand is probably set for further economic growth whilst the UK and many other western countries are in for a prolonged downturn.

[Abrak]

Just spoke to a couple of the guys from the old job in the City . . . they reckon that Centerparc vacations are replacing the long haul flights this year. Their expense account budgets have been decimated, there's been a noticeable increase in petty crime, tube fares are up, fuel's up, there are all year sales on Oxford Street and untold Poles have legged it back to Warsaw.

The only good news is that lots of estate agents are being made redundant . . . especially those w***ers at Foxtons

'Centerparc Vacation' is an oxymoron.

[Sparkles]

Some of these post are really amusing.. Expensive to live in Thailand ? A few days ago my wife ,daughter and I had lunch in a relatively nice food court.Total cost for 3 of us was 145 baht.Back home in Aus I would pay a minimum of 700 baht for a comparable lunch.

Friend went to Wembley ,in the UK for non football followers, last weekend, 20 quid to park the car, 70 quid to get an average seat, 8 quid for a sandwich, 3 quid for a coffee .Total 101 pounds for 2 hours entertainment. Didnt someone say "youve never had it so good"

[mrbojangles]

Friend went to Wembley ,in the UK for non football followers, last weekend, 20 quid to park the car, 70 quid to get an average seat, 8 quid for a sandwich, 3 quid for a coffee .Total 101 pounds for 2 hours entertainment. Didnt someone say "youve never had it so good"

You can't compare the price of a day out at Wembley to anything, or at any football match for that matter. They always have and always will be a total rip off.

For me, this exchange rate is actually saving me money. I am definately not building the house in Thailand while it's around the 50baht to the pound. So the money stays in the Bank (UK), not really making much in interest mind you.

[Abrak]

For me, this exchange rate is actually saving me money. I am definately not building the house in Thailand while it's around the 50baht to the pound. So the money stays in the Bank (UK), not really making much in interest mind you.

'Always look on the bright side of life.....'

You know there was once a band called 'The KLF' (had such hits as '3am Eternal' 'What time is Love?'). They made GBP1million, converted it into cash and then burnt it all.

[whiterussian]

Right now most US debt is owned by the Chinese.

China doesn't own anywher near "most" of US debt. China holds around 20-25% of US foreign debt, or around 10% of total debt.

Its a large chunk, but nowhere near 50%.

http://www.ustreas.gov/tic/mfh.txt

I think China just dumped a load, and are now number 2. (I fart in your general direction?)

in billions

China, Mainland 894.8

Japan 765.7

Oil Exporters 3/ 207.4

United Kingdom 2/ 178.0

Brazil 169.3

Hong Kong 148.7

Russia 141.8

Carib Bnkng Ctrs 4/ 128.2

Taiwan 116.5

Switzerland 89.7

Luxembourg 88.4

Canada 52.8

Germany 47.8

Ireland 43.6

Korea 40.3

Singapore 39.2

Mexico 36.8

Thailand 33.3

Grand Total 3689.0

3.6 Trillion dollars

Tarp and related fantasy cash: 17 Trillion dollars allocated?

*edit* 24 trillion! woopie!!

I cant believe my luck, all my cash is in THB! yippee! And i bought my motorbikes at 70+ baht to the pound! Those were the days!

Maybe i should go Yuan.. although I may wait for gold to rocket or crash, and see if the allied troops quash the axis of evillllllllllllll by invading Iran in May. Thats really gonna screw the pump prices, the inconsiderate gits!

The UK is up <deleted> creek without a paddle. Abandon ship. Unless the EU falls apart, and the UK become the only country without nutcase neighbour states!

I wonder if the fact that Soros has a Burmese 'foundation' going will mean he wont target the baht? - maybe i need a bigger tin foil hat.

Edited March 4, 2010 by whiterussian

[apetley]

You know there was once a band called 'The KLF' (had such hits as '3am Eternal' 'What time is Love?'). They made GBP1million, converted it into cash and then burnt it all.

Yeah those were the days when a million quid was actually worth something

[andyww]

While I sympathize with your conclusion, I think you are looking at the problem backwards. It is not so much as whether your teelak will look after you in your old age (or even her family); you should really consider whether that Western safety net is half as safe as you think it is. There really is no indication that any Government will honor their pledges to provide the sort of safety net they are providing now.... into the future. They simply cannot afford it.

You are SO correct !!!!

Too many people are under the impression that all they have to do, is turn up at the airport and announce "I'm BAAAAAACK" and everyone will welcome back the prodical son with open arms, and a fatted calf. The reality, in fact is that you go right down to the back of each and every very long queue, like the "traitor" those that hold the purse strings think you are.

Penkoprod

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.

[wolf5370]

who else is there , the Conservatives put us here, The sold off Britain's state company's , like the Gas, Electric, Water, scrapped the coal industries, got rid of the miners and killed off the docks. even the Waste is owned by France, Yes Brown is the Future, Its Amazing how America followed suit after everybody called Brown for backing Northern Rock.

You must be kidding right? Ever heard of the winter of discontent? The state run binman strikes, the morge and hospital staff strikes, the teacher strikes? Scargil caused the minor's demise, in Wales they were digging out dust and slag - the government had been supporting them for a generation. Thatcher's idea was to close mines that were drains on the ecconomy and concentrate on the larger, profitable ones, in the North. Scargil took them all out on strike for months, in the end almost all ended up closing for the cost of a few. The country could no longer keep paying for nil return.

British Gas, BT, and other government run utilites were inefficient, over priced, out of date and unreliebale. I was quoted seven months to get an electric meter fitted in my restaurant and it was illegal for anyone else to do it, or use electric without it. This sort of rubbish was common place. As were the strikes, pay demands, and so on. Many of these were "closed shops" so new blood never stood a chance. They were overburdened with staff aand resisted any change. In a modern world, they were not competitve and the state monopoly did little to allow ingenuity. Selling off these state companies did two main things: It allowed for competiton and it reduced the drain on the economy. It also raised a lot of money for the treasury. It allowed Britain to pay off debts (some from the war), build a reserve and put he economy on the best footing since WW2.

Blair and Brown then sold the reserves at 50c on the $, massively increased national debt, continued to privatise (including where Thatcher said it would never work - railways, tube and even an attempt at air traffic control), renegged on an agreement with China over Rover and allowed it to go to the wall (while giving the Chinese the right to build Rover cars gratis!), covered unemployment by large increases in government employees (and moving government offices to areas of high unemployment as a smoke screen - e.g. VAT/Tax offices to Glasgow) - incresing the volume to 1 in 5 of working age employed adults!, increased public spending like bever before, blew billions on terribly planned and managed projects, agreed to European policies that meant Britain paid out far more than it ever received back from the EU, and to completely <deleted> up the ecconomy they were handed in 97 on a silver plate.

Might also add that Brown removed a lot of the financial rules that protected the country from what happened; if it had not been for him, then Britain would have faired more like France as the British banks would not have been able to over-extend themselves in the way they did.

If I had my way, he and his ex-boss would be tried for treason and hung, drawn and quatered!

Edited March 4, 2010 by wolf5370

[Lite Beer]

Off Topic Posts. Hate related posts . Inflammatory posts. Plus the answers to them have been deleted.

Please get back on track to the Topic of GPB /Baht Exchange Rates.

Thanks.

[jesimps]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

What a complete load of rolex!

I pay tax in UK on my company and state pension and council tax on a house for services which I haven't used for 10 years. I paid NI contributions all my working life yet do not use the NHS. I help to support two banks how the heck am I a drain on the UK economy?

[South]

Remember B31 to the GBP and around B24.8 to the $. It's heading back to how it was 20 years ago. Exchange rates were more or less fixed then and it wasn't really until the big bubble burst in 1997 that rates went to they have been in the last 13 years.

[chiang mai]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

What a complete load of rolex!

I pay tax in UK on my company and state pension and council tax on a house for services which I haven't used for 10 years. I paid NI contributions all my working life yet do not use the NHS. I help to support two banks how the heck am I a drain on the UK economy?

I think that MMB has taken some of the things that I said in a prior post, out of context! I said earlier that ex-pats, including myself, need to make a decision as to their finances regarding which is their home currency and to commit to it, otherwise it becomes very confusing as to which currency they are trying to protect in a time of crisis, Sterling or Baht. As for that business of pensioners being a drain on the UK economy, that is of course erroneous - I would argue that UK pensioners who become expats actually benefit the UK economy because they don't draw on the other services or benefits within the UK such as tax credits or the NHS so therefore they actually aid the UK economy!

[Penkoprod]

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

[chiang mai]

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

It's plain stupid, UK pensioners living in the EU aren't entitled to NHS treatment but they can be treated for free within the EU - UK immigrants and asylum seekers on the other hand are entitled to free NHS care in the UK, surely the government must see the absurdity of it all.

[mommysboy]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

What a complete load of rolex!

I pay tax in UK on my company and state pension and council tax on a house for services which I haven't used for 10 years. I paid NI contributions all my working life yet do not use the NHS. I help to support two banks how the heck am I a drain on the UK economy?

I think that MMB has taken some of the things that I said in a prior post, out of context! I said earlier that ex-pats, including myself, need to make a decision as to their finances regarding which is their home currency and to commit to it, otherwise it becomes very confusing as to which currency they are trying to protect in a time of crisis, Sterling or Baht. As for that business of pensioners being a drain on the UK economy, that is of course erroneous - I would argue that UK pensioners who become expats actually benefit the UK economy because they don't draw on the other services or benefits within the UK such as tax credits or the NHS so therefore they actually aid the UK economy!

Apologies to CM on this one my posting was in 2 parts - one stating my own personal opinion on what OAP expats do to the UK economy- which I stand by, but then saying how it is best to live in Thailand if you are an expat.

I did not mean to suggest that CM had similar opinions, just merely that CM had expressed the need to not get caught in Thailand living with pounds on your mind or vice-versa and that this is indeed the best way to live.

[mommysboy]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

What a complete load of rolex!

I pay tax in UK on my company and state pension and council tax on a house for services which I haven't used for 10 years. I paid NI contributions all my working life yet do not use the NHS. I help to support two banks how the heck am I a drain on the UK economy?

You are not typical in my view.

My argument is bound not to win friends I agree. Since becoming self employed, it's made me reallise just how unproductive most people really are. Is it too much to say that the average worker is a drain on the economy- personally I think not. And in my opinion the pension they receive is just plain lucdicrous and certainly will not happen in the future. To then take that pension and spend it another country! well that's my point.

[thaibeachlovers]

Remember B31 to the GBP and around B24.8 to the $. It's heading back to how it was 20 years ago. Exchange rates were more or less fixed then and it wasn't really until the big bubble burst in 1997 that rates went to they have been in the last 13 years.

I'd be happy with 31 bht to a pound if cost of living was same as 17 years ago! Also it was a lot easier for me to stay in Thailand ( 90 day permit to stay at the border renewed indefinitely ) back in the 90's.

Now it's getting way too expensive to live in Thailand if you like to have a good time ( ie bars and women ), plus staying at the beach has become overpriced, now that most of the cheap bungalows have gone upmarket.

And the legal side of staying in Thailand has got soooo complicated. Nuff said about that.

Edited March 5, 2010 by thaibeachlovers

[thaibeachlovers]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand. BUT....

CM is right, don't get caught between 2 stools. If you decide you live out here, reconcile yourself to providing for your very old age via a health policy or a good family. Most likely if you were to return to UK, it would be known you were living abroad and the chances are you would not be covered by NHS. I don't think you coud be refused treatment but bye, bye caital and savings.

What a complete load of rolex!

I pay tax in UK on my company and state pension and council tax on a house for services which I haven't used for 10 years. I paid NI contributions all my working life yet do not use the NHS. I help to support two banks how the heck am I a drain on the UK economy?

You are not typical in my view.

My argument is bound not to win friends I agree. Since becoming self employed, it's made me reallise just how unproductive most people really are. Is it too much to say that the average worker is a drain on the economy- personally I think not. And in my opinion the pension they receive is just plain lucdicrous and certainly will not happen in the future. To then take that pension and spend it another country! well that's my point.

I agree about people being unproductive, but IMO that is because most countries have become so overpopulated that they have exceeded their ability to to provide "real" jobs ( media studies anyone? ). In any western country, only a fraction of the population is involved in creating wealth, while the rest of the people just move money around, or suck off the welfare state.

I worked in the NHS till recently, and the number of people that were having free operations despite having never contributed a penny to Britain ( eg aged parents of immigrants ) is a scandal.

Till Britain gets some politicians with enough backbone to slaughter a few "sacred cows", the UK is set to continue on its downward spiral, as it continues to spend vast sums on people that shouldn't even be receiving welfare ( eg unmarried mothers and IVF treatment for starters- IMO )

However, I disagree about being able to spend your pension in another country. If you have contributed tax all your working life, and qualify for a pension, why shouldn't you receive it anywhere you like? In fact, by living in another country you are saving Britain money, by not utilizing costly health care services, for a start.

I believe Japan even encourages it's elderly to live in countries with a cheaper cost of living as it saves Japan money.

[Abrak]

Now it's getting way too expensive to live in Thailand if you like to have a good time ( ie bars and women ), plus staying at the beach has become overpriced, now that most of the cheap bungalows have gone upmarket.

And the legal side of staying in Thailand has got soooo complicated. Nuff said about that.

The main problem I have with the Thailand is too expensive argument is that noone seems to come up with a convincing alternative.

And to be honest, I dont see anymore inflation here than anywhere else. House prices have gone up but are the same in US$ terms as 15 years ago, yields and rents have probably fallen, a taxi costs the same, wine is still outrageous. We all spend more because we have better choices. We have added Bt2,000 to the maids salary.You can eat for as much or as little as you like. Hotels, I admit, are starting to take the piss.

[thaibeachlovers]

Now it's getting way too expensive to live in Thailand if you like to have a good time ( ie bars and women ), plus staying at the beach has become overpriced, now that most of the cheap bungalows have gone upmarket.

And the legal side of staying in Thailand has got soooo complicated. Nuff said about that.

The main problem I have with the Thailand is too expensive argument is that noone seems to come up with a convincing alternative.

And to be honest, I dont see anymore inflation here than anywhere else. House prices have gone up but are the same in US$ terms as 15 years ago, yields and rents have probably fallen, a taxi costs the same, wine is still outrageous. We all spend more because we have better choices. We have added Bt2,000 to the maids salary.You can eat for as much or as little as you like. Hotels, I admit, are starting to take the piss.

With regard to hotels, I just found out the hotel I usually stay in at Pattaya increased it's rate from 600 to 800 baht. <deleted>!

Not to be personal, but why do so many people use house prices as an indicator of inflation? For most farangs coming to Thailand, house prices are completely irrelevant. All the things that I use, like hotels and entertainment have doubled, and in some cases tripled in cost since '97.

As for spending more, LOL, and my choices are limited to whatever is cheapest, and doing without.

Incidentally, over the past 10 years my income went down in real terms, as my wages increased less than inflation, and most costs went up more than inflation.

[parryhandy]

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

Just read them links and a I find it totally disgusting that people who have paid in all their working lives are denied treatment. There was a test case recently that basically found that just because you are living in the uk for less than 90 days a year you were still liable for tax if you hadn't completely severed all ties.

Ok fair enough but that means you can still be liable for uk tax but be refused hospital treatment ? <deleted> ?

The elderly couple in the article pay tax on their pension and having paid tax and NI for 50 years are denied free treatment ?

Can see why the west has crept in all these anti terrorism laws because they know that what they will have to do to balance the books (after bailing out the <deleted> banks) could easily escalate into massive civil unrest.

[Spee]

Currency rates should be based upon the relative value of goods and services. Unfortunately, in these days of massive central governments, excessive government meddling in the economy, and fraud (see home mortagage crisis and Freddie/Fannie) and corruption (see Bush/Obama & Goldman-Sachs in Rolling Stone), the government deliberately manipulates the value of currency rather than having the markets and commercial economies dictate the pace of play. A big part of the problem is also due to the US Federal Reserve deviating massively from its intended purpose and directing the printing of money like it's going out of style. There is a day of reckoning coming that is being put off because of petty politics. It's more than a little disturbing.

Other countries have their own problems with excessive government intrusion, fraud and corruption. But with the links between global economies, the biggest are always going to impact the smallest.

What I don't understand is why the price of rice has been going up in a country that is the world's largest exporter of rice. Is there more value in exporting rice than selling it in country? The same goes for other goods and services, such as telephony. It's very expensive for a commodity product.

[moetownblues]

The Australian & US dollar are down also. I guess the thai baht is getting stronger which is good for thais.

[theoldgit]

To any pensioner out here in Thailand. I don't have much sympathy as what you are doing is acting as a complete drain on UK economy. Your money is spent completely in Thailand.

Absolutely correct, all you UK pensioners living in Thailand and no doubt still paying UK taxes, should return to the UK where you will not be a drain on the economy, ok you will get the full range of benefits, a winter fuel allowance, yearly increases in your pensions, free bus passes, free NHS cover, free prescriptions, free eye tests, the list goes on, but you will not be a drain on the economy.