Will The Strong Baht Effect Your Pattaya Lifestyle?

[Oink]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97. When they borrowed the money it was B48/$ now they are repaying it faster at B30/$ No brainer really.

So in about a year’s time when it is paid off and Thailand is dept free with a trade surplus no doubt the $/B will fall even further down the pan as the US economy shall be the absolute opposite. Broke with a trade deficit. One of these days these countries are going to dump the $ and flip to the currency of the world’s largest trading country, China

Yep! It’s not the US any more, they are in second place and falling!! Not a lot of people know that. It's not on CNN!

Please think again,or at least inform yourself, before you post any nonsense like this again.

Thailand paid back their IMF debt 7 years ago,2 years ahead of schedule.

Wow you are right, Thailand is Debt free and owed money! If the Baht is appreciating and the $ depreciating it would indicate that Thailands financial management is far superior! Then that must mean that the $ really is toilet paper! Thanks for pointing that out.

[nikkoid66]

Nikkoid66 I would like to know when you come up with your predictions, USD worth 1 cent on the dollar? 1 Baht = 5 USD? Do you actually think about these figures before you throw them out there?

I see you edited your statement on Thai gold reserves (you said they had large amounts) which was good because that statement also was total bullocks. The Dec 2009 IMF reports has Thailand listed as owning 84 tonnes (placed #33 & held 2% of forex reserves), the UK has 5 million less population and holds 310 tonnes (placed #17 & held15% of forex reserves).

I am not American and agree the US will go thru some harder times before it rights itself and gets back on positive financial footings. It is in China and the worlds best interest for that not to happen, you didn't see them abandon Greece, Argentina, Pakistan or Russia (after the collapse of USSR).

I agree that 1-5 is a pretty negative figure, can be more than that. But collapse means it will not loose 30% of its value but much much more... I do not pretend to be absolutely right, but I think it is going to happen anytime soon, I have records, too long to explain here to be right, but of course this cannot be %100 sure.

- The Federal Reserve has no audit of any kind, it is a private company, actually no one knows exactly how much gold they have, same for UK.

- The quantity of gold cannot be compared the way you did it for each country. Each country must not print more than x10 what they have in in stock in Gold. So to calculate how secure is a currency you need to take in account the number of bills/coins in circulation and their value. Thailand with no doubt is more conservative than any Euro/US country or states. That's why the Bath is a very good placement, it is not diluted like other currencies.

- Because the banks issued too much US and EURO, the banks have created too much fake/paper money, they need to raise their interest rates in order to drain more value for the money from the citizen, but because it is not good for the economy, the gov use taxes to drain this money out of our pocket. The result of this is a lower buying power in these country and it will last until the balance between the true gold reserve and the money in circulation is back to normal.

- But there is a problem, the gov need cash to work, if the banks do not issue enough cash the gov cannot pay (see Greece). As a result, the gov need to take loan to the banks to get the cash, and the banks are making more money from the interest rates that are in fact paid by the citizen thru their taxes. It is a tax pump that sucks the wealth of the people in order to increase the reserves of the country to match the number of paper money they made...

This process is sucking all wealth of middle class and poor people in the US and EUR and the collapse will come when people will not be able to sustain the taxes and will stop paying them (because of unemployment, bankuptcy etc...), or when a panic will happen and people will try to get their cash from the banks.

[gerry53]

Nikkoid66 I would like to know when you come up with your predictions, USD worth 1 cent on the dollar? 1 Baht = 5 USD? Do you actually think about these figures before you throw them out there?

I see you edited your statement on Thai gold reserves (you said they had large amounts) which was good because that statement also was total bullocks. The Dec 2009 IMF reports has Thailand listed as owning 84 tonnes (placed #33 & held 2% of forex reserves), the UK has 5 million less population and holds 310 tonnes (placed #17 & held15% of forex reserves).

I am not American and agree the US will go thru some harder times before it rights itself and gets back on positive financial footings. It is in China and the worlds best interest for that not to happen, you didn't see them abandon Greece, Argentina, Pakistan or Russia (after the collapse of USSR).

I agree that 1-5 is a pretty negative figure, can be more than that. But collapse means it will not loose 30% of its value but much much more... I do not pretend to be absolutely right, but I think it is going to happen anytime soon, I have records, too long to explain here to be right, but of course this cannot be %100 sure.

- The Federal Reserve has no audit of any kind, it is a private company, actually no one knows exactly how much gold they have, same for UK.

- The quantity of gold cannot be compared the way you did it for each country. Each country must not print more than x10 what they have in in stock in Gold. So to calculate how secure is a currency you need to take in account the number of bills/coins in circulation and their value. Thailand with no doubt is more conservative than any Euro/US country or states. That's why the Bath is a very good placement, it is not diluted like other currencies.

- Because the banks issued too much US and EURO, the banks have created too much fake/paper money, they need to raise their interest rates in order to drain more value for the money from the citizen, but because it is not good for the economy, the gov use taxes to drain this money out of our pocket. The result of this is a lower buying power in these country and it will last until the balance between the true gold reserve and the money in circulation is back to normal.

- But there is a problem, the gov need cash to work, if the banks do not issue enough cash the gov cannot pay (see Greece). As a result, the gov need to take loan to the banks to get the cash, and the banks are making more money from the interest rates that are in fact paid by the citizen thru their taxes. It is a tax pump that sucks the wealth of the people in order to increase the reserves of the country to match the number of paper money they made...

This process is sucking all wealth of middle class and poor people in the US and EUR and the collapse will come when people will not be able to sustain the taxes and will stop paying them (because of unemployment, bankuptcy etc...), or when a panic will happen and people will try to get their cash from the banks.

The International Monetary Fund figures are of course unaudited, there is even strong rumors the USA gold figures are bogus. I don't know where you got that a country can not print more the 10 times the gold it physically holds especially when its unaudited?

After studying financial markets, stocks and precious metals for the last 25 years your knowledge just takes my breath away - thanks scoop!

[nikkoid66]

The International Monetary Fund figures are of course unaudited, there is even strong rumors the USA gold figures are bogus. I don't know where you got that a country can not print more the 10 times the gold it physically holds especially when its unaudited?

After studying financial markets, stocks and precious metals for the last 25 years your knowledge just takes my breath away - thanks scoop!

It is called Fractional reserve banking and is fixed at x10 since the creation of the FED in 1913. It is for the USA, the topic is about the USD, I don't know about the others countries but my guess us that at least UK and EUR does the same, as they have the same base.

http://en.wikipedia....reserve_banking

Actually the fractional reserve ratio established by the FED is %10, that means they can make x10 time more paper than the reserve they have (or they say they have).

More info about this number is here: http://www.lewrockwe...thbard/frb.html or anywhere the FED history is exposed.

"you got that a country can not print more the 10 times "

Sorry my mistake, Countries do not print the money, it is done by the FED and the countries pay interests on that loan.

Sorry for the parenthesis...

Edited August 30, 2010 by nikkoid66

[therealmrbrightside]

_{What is the exchange rate IN Thailand to the GBP?}

_{I can get 43THB for a quid here in the UK and don't know whether to exchange a heap before i travel or would i get a better rate in Thailand?}

No need to cut down on print size,I can hardly read it

So whats the exchange rate around Thailand on the quid, should i buy it here in UK or exchange in Thailand?

[Rumcabal]

I don't know where you got that a country can not print more the 10 times the gold it physically holds especially when its unaudited?

It is called Fractional reserve banking and is fixed at x10 since the creation of the FED in 1913. It is for the USA, the topic is about the USD, I don't know about the others countries but my guess us that at least UK and EUR does the same, as they have the same base.

http://en.wikipedia....reserve_banking

Actually the fractional reserve ratio established by the FED is %10, that means they can make x10 time more paper than the reserve they have (or they say they have).

Unfortunately its worse than that. There is no relationship between the dollar and gold. Nor any other paper or 'fiat' currency. Not since Nixon removed it from the gold standard in 1972.

Fractional reserve banking applies to all commercial banks and it allows them to lend out up to 10 times the amount they keep in reserve.

The FED is not bound even by these lose fractional rules. Its free to do whatever it wants with your money supply. And you or even your representative in congress is not entitled to ask for an audit of this institute.

[LennyW]

So whats the exchange rate around Thailand on the quid, should i buy it here in UK or exchange in Thailand?

Look at the top of this page, right hand side of the news ticker bar - GBP 47.89, you always get a better rate here.

[therealmrbrightside]

So whats the exchange rate around Thailand on the quid, should i buy it here in UK or exchange in Thailand?

Look at the top of this page, right hand side of the news ticker bar - GBP 47.89, you always get a better rate here.

That's just answered my question Lenny. Cheers.