Thai Baht At Fresh 13-Year High Against Dollar

[saraburioz]

Exclude the exporters.

Is this good for the general Thai people or not? If the currency in their pocket/bank gets appreciated?

It's great for my family as we are going to Disneyland next week !

[saraburioz]

only a couple yrs ago it was 67 to the pound .thailand got more expensive to drink stay eat and travel to never mind the pound on its knees to the bath.

No it didn't things are still the same price in baht as a couple of years ago ( gasoline is cheaper now ) it only matters if you are bringing money into the country as in pension, holiday etc, I get paid in baht it only makes a difference to me when I send money out ( which at the moment is great ) go baht I say ( sorry I know selfish )

I agree. A strong baht is great. I send my mother $1000 a month- so saving heap since I started 10 years ago.

[neverdie]

They deal in baht gold not oz gold. Its less gold and more alloy metal. Current price is 18050/19050 per baht gold.

You are referring to the thai gold purity of 96.5 verses others that deal in 99.9%?

[joe84330]

I bought in very heavily around 12,400 per Thai baht gold so at 19,000 I am not complaining. But like I said it was at 19,000 when it was $1/33 baht...and gold was way below todays price.

Yeah well you know that amazing American administration that was voted in a couple of years ago, well they havent finished milking the Americans of their wealth yet, the deception continues and my guess is this 'reset' is going to take a little while to reveals itself in all its ugliness.

What I find amazing is your conjecture to blame the Obama Administration for the failures of the Bush Administration; President Bush robbed America of its wealth long before President Obama was even a candidate for office, so if you want to link Americas financial crisis to the appreciation of the baht against the US dollar, then let's get to the heart of the real deception, which were the failed policies of George W. Bush with his propaganda war in Iraq that has cost America billions in IOUS to the Chinese government, as well as his failure to reign in the excesses of Wall Street with its international ponzi schemes that cost the American taxpayers billions more in TARP and TLGP (rescue) funding which led to the biggest financial crisis in America and around the world since the Great Depression; his generous tax breaks for the rich, and job losses under his two terms in office that were the worst on record since World War II. The ugliness, as you like to frame it comes from anyone who has the unmitigated gall to blame the guy who is attempting to extinguish the fire as the arsonist who started it; but true to the talking points of the republican party, deny the truth and embrace the lie.

bu bu bu bush

baaa baaaa baaaa

[beechguy]

No worries I have a feeling with yank elections leaning towards fiscal conservative policies I dare say a strong $ will return. Expect a bump after the elections.

Fiscal conservative policies is what got America into the mess it's in today, so what your saying is that the guys who robbed the bank should now be rehired to guard it. Realizing of course the bank no longer has any money in it to guard, that "bump after the elections" you are referring to, if the republicans win a majority in November (which is not necessarily a slam/dunk) will be the sound of the American economy crashing under the weight of fiscal mismanagement and corporate (special) interest. I'm not doing handstands with the policies of President Obama, but a republican majority is clearly not the solution, and a lot of Americans are beginning to sober up to that fact.

How did conservative fiscal policies cause the situation? Seems they weren't conservative enough, but of course the Democrats in congress wouldn't have had anything to do with that would they, easier to just ignore the facts and blame Bush.

Edited October 7, 2010 by beechguy

[Ricardo]

Perhaps one of the "measures aimed at reigning in the currency" might include not upping the interest-rate again ? The hole is deep enough, so please stop digging !

And while acknowledging that domestic measures can only slow the effects, this is still surely worth doing, as it gives Thai export-businesses & tourism more time to adjust to their increasingly-poor competitive-situation vis-a-vis their international/regional competitors ?

[tijnebijn]

Its at 29.8730 on bloomberg right now , another 0.15% gain , yesterday THB gained 0.79% or so .Everyday is a new high at the horizon , and it does not seem BOT is keen for intervening in any sort which will be very significant .

Guess time will tell , especially when small to medium busines-exporters get the hit ,

we will probably see a last grap of Thaistyle new law of curbing the baht as always , just wait until after the elections .

[webfact]

Current baht strengthening remains justified, says BoT

BANGKOK, Oct 7 – The strengthening of the baht at present remains justified given the strong economic fundamentals of Thailand, according to Bank of Thailand (BoT) Deputy Governor Atchana Waiquamdee.

Although the baht had already appreciated for three years, she said, exports continued growing satisfactorily.

The appreciation of the baht to pass the 30 to the US dollar level on Wednesday was not worrying as the movement is due to market mechanisms, but what level at which the baht would stay from now on is unpredictable.

Mrs Atchana said the currency exchange rate is one factor affecting the direction of exports, but what seem to be more important in Thailand's case now are the economies of the country's trading partners.

“It is not unusual to see foreign capital flow into the country given the sound economic growth and an export increase by 20 per cent. Despite the recent political turmoil, foreign capital continued flowing into the country,” she said.

Mrs Atchana said the central bank had intervened in the baht movement to slow the continued currency appreciation.

It is evidenced by the continued increase in international reserves to US$163.1 billion at present, she said, noting that central banks of other countries had intervened similarly in their currencies as well.

Regarding news that central banks of many countries began to compete to make their currencies weaken, she allowed that the BoT was worried about the matter.

However, the deputy BoT chief said she did not believe the situation would worsen to such an extent that a currency war could break out. (MCOT online news)

-- TNA 2010-10-07

[beechguy]

I bought in very heavily around 12,400 per Thai baht gold so at 19,000 I am not complaining. But like I said it was at 19,000 when it was $1/33 baht...and gold was way below todays price.

Yeah well you know that amazing American administration that was voted in a couple of years ago, well they havent finished milking the Americans of their wealth yet, the deception continues and my guess is this 'reset' is going to take a little while to reveals itself in all its ugliness.

What I find amazing is your conjecture to blame the Obama Administration for the failures of the Bush Administration; President Bush robbed America of its wealth long before President Obama was even a candidate for office, so if you want to link Americas financial crisis to the appreciation of the baht against the US dollar, then let's get to the heart of the real deception, which were the failed policies of George W. Bush with his propaganda war in Iraq that has cost America billions in IOUS to the Chinese government, as well as his failure to reign in the excesses of Wall Street with its international ponzi schemes that cost the American taxpayers billions more in TARP and TLGP (rescue) funding which led to the biggest financial crisis in America and around the world since the Great Depression; his generous tax breaks for the rich, and job losses under his two terms in office that were the worst on record since World War II. The ugliness, as you like to frame it comes from anyone who has the unmitigated gall to blame the guy who is attempting to extinguish the fire as the arsonist who started it; but true to the talking points of the republican party, deny the truth and embrace the lie.

True there were some serious job lossses the last quarter of 2009, but look at this chart from the Bureau of Labor Statistics, the rate ranged from about 4% to just over 6% for much of the time. http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000

I don't see how that can be described as the worst jobs record since WWII, but then again I'm not interested in repeating inaccurate rhetorical information.

[passon]

There is not doubt the financial crisis has hurt the American taxpayer. However, TARP was a necessary evil.

When the final tally is made the bottom line will be a worthwhile investment, Most of it will be paid back with

interest. Interest paid and profit on stock sold will more than cover any monies not paid back.

Although the Bush administration caused a lot of damage, Obama and company's runaway spending is leading to a spiraling deficit that will eventually lead to a financial crisis far worse than most Americans realize possible.

I not talking about politics, but the urgent need for sound fiscal and monetary policies. Sooner or later the printing presses will run out of ink.

The Bush administration caused "all" the damage," not a lot of it. Obama and company is an apparent snipe at the current administration, so your bias is obvious. President Obama had a very short window to fix a long term problem, which were the failed policies of the Bush Administration. So please let me indulge you and quote Simon Johnson Chief Economist at the International Monetary Fund from 2007 to 2008 and a professor at the M.I.T. Salon School of Management, who along with many other economist agree that, " The fiscal stimulus played a decisive role in reducing the depth and pain of the recession and is now helping to get a recovery under way." However, this is a fiscal problem unlike anything America has ever experienced since The Great Depression. This recovery has apparently dodged the bullet for a 2nd dip, or double dip recession which the IMF has already said is, "unlikely." However, there are still mitigating factors that could trigger a second wave of economic setbacks that would jeopardize an already fragile American economy, which is if, for example, the Chinese governments started selling off money borrowed by the Bush Administration to fund its war in Iraq. The Chinese own over 187 billions dollars in American Treasury Notes, so the U.S. government must walk a thin line when negotiating with China over trade imbalances or risk a sell off. But, once again, this is a problem created by President Bush, not President Obama. This financial crisis breaches the borders of the United States, so in some regards it is each man for himself to survive in a fiscal tsunami that has only abated itself with short term relief. TARP and TLGP were short term solutions that temporarily slowed the fast moving train of fiscal destruction. Many American jobs have been exported overseas and unemployment remains high. The solutions are evasive to the extent that the party of No has contributed little, if anything to a consensus of bipartisanship that might have led to a better dialogue between government and the private sector to find solutions that could have reinvented the wheels of innovation; and, as a result, created new jobs in new industries. I did not see you, me or anyone else run for the job of president, and I don't see you, me, or anyone else offering any better solutions, either. As I said earlier, I'm not doing handstands over President Obama's policies, but I can say this much, he is much more engaged in seeking out solutions, listening to all sectors of America and articulating his policies then his predecessor ever was. President Obama did not create this mess and there is little economic history to support what theories, or policies, or precedents might otherwise and effectively bring America back to economic prosperity. Iceland, Greece, Spain, Ireland, the UK and so many other countries are experiencing the same depths of economic disparity, which is further proof that the solutions are difficult and the road ahead will continue to be painful. A case in point is the Thailand Financial Crisis of 1997 and how long it has taken them to recover. Nothing of this magnitude will ever have easy solutions; and those printing presses? They ran out of ink long before President Obama, President Bush and a lot of other presidents before them, so a sound fiscal and monetary policy will unfortunately depend more on what is thrown at the wall, and what eventually sticks. Therefore, the current financial crisis is far worse than anyone in America could have ever imagined, and that is what happens in an environment of complacency, denial and arrogance.

[beechguy]

There is not doubt the financial crisis has hurt the American taxpayer. However, TARP was a necessary evil.

When the final tally is made the bottom line will be a worthwhile investment, Most of it will be paid back with

interest. Interest paid and profit on stock sold will more than cover any monies not paid back.

Although the Bush administration caused a lot of damage, Obama and company's runaway spending is leading to a spiraling deficit that will eventually lead to a financial crisis far worse than most Americans realize possible.

I not talking about politics, but the urgent need for sound fiscal and monetary policies. Sooner or later the printing presses will run out of ink.

The Bush administration caused "all" the damage," not a lot of it. Obama and company is an apparent snipe at the current administration, so your bias is obvious. President Obama had a very short window to fix a long term problem, which were the failed policies of the Bush Administration. So please let me indulge you and quote Simon Johnson Chief Economist at the International Monetary Fund from 2007 to 2008 and a professor at the M.I.T. Salon School of Management, who along with many other economist agree that, " The fiscal stimulus played a decisive role in reducing the depth and pain of the recession and is now helping to get a recovery under way." However, this is a fiscal problem unlike anything America has ever experienced since The Great Depression. This recovery has apparently dodged the bullet for a 2nd dip, or double dip recession which the IMF has already said is, "unlikely." However, there are still mitigating factors that could trigger a second wave of economic setbacks that would jeopardize an already fragile American economy, which is if, for example, the Chinese governments started selling off money borrowed by the Bush Administration to fund its war in Iraq. The Chinese own over 187 billions dollars in American Treasury Notes, so the U.S. government must walk a thin line when negotiating with China over trade imbalances or risk a sell off. But, once again, this is a problem created by President Bush, not President Obama. This financial crisis breaches the borders of the United States, so in some regards it is each man for himself to survive in a fiscal tsunami that has only abated itself with short term relief. TARP and TLGP were short term solutions that temporarily slowed the fast moving train of fiscal destruction. Many American jobs have been exported overseas and unemployment remains high. The solutions are evasive to the extent that the party of No has contributed little, if anything to a consensus of bipartisanship that might have led to a better dialogue between government and the private sector to find solutions that could have reinvented the wheels of innovation; and, as a result, created new jobs in new industries. I did not see you, me or anyone else run for the job of president, and I don't see you, me, or anyone else offering any better solutions, either. As I said earlier, I'm not doing handstands over President Obama's policies, but I can say this much, he is much more engaged in seeking out solutions, listening to all sectors of America and articulating his policies then his predecessor ever was. President Obama did not create this mess and there is little economic history to support what theories, or policies, or precedents might otherwise and effectively bring America back to economic prosperity. Iceland, Greece, Spain, Ireland, the UK and so many other countries are experiencing the same depths of economic disparity, which is further proof that the solutions are difficult and the road ahead will continue to be painful. A case in point is the Thailand Financial Crisis of 1997 and how long it has taken them to recover. Nothing of this magnitude will ever have easy solutions; and those printing presses? They ran out of ink long before President Obama, President Bush and a lot of other presidents before them, so a sound fiscal and monetary policy will unfortunately depend more on what is thrown at the wall, and what eventually sticks. Therefore, the current financial crisis is far worse than anyone in America could have ever imagined, and that is what happens in an environment of complacency, denial and arrogance.

By your logic then, Bush should have blamed Bill Clinton for his failed Foreign and Military Policies for causing the 9/11 attacks and any other related problems? Not to mention some of the economic policies under Clinton was the beginning of some of these current problems. And the Demcrats in congress had nothing to do with any of this?

Anyway, I provided some real information, not just the opinion of one group of economists, if you chose to ignore it that's up to you.

Edited October 7, 2010 by beechguy

[passon]

I bought in very heavily around 12,400 per Thai baht gold so at 19,000 I am not complaining. But like I said it was at 19,000 when it was $1/33 baht...and gold was way below todays price.

Yeah well you know that amazing American administration that was voted in a couple of years ago, well they havent finished milking the Americans of their wealth yet, the deception continues and my guess is this 'reset' is going to take a little while to reveals itself in all its ugliness.

What I find amazing is your conjecture to blame the Obama Administration for the failures of the Bush Administration; President Bush robbed America of its wealth long before President Obama was even a candidate for office, so if you want to link Americas financial crisis to the appreciation of the baht against the US dollar, then let's get to the heart of the real deception, which were the failed policies of George W. Bush with his propaganda war in Iraq that has cost America billions in IOUS to the Chinese government, as well as his failure to reign in the excesses of Wall Street with its international ponzi schemes that cost the American taxpayers billions more in TARP and TLGP (rescue) funding which led to the biggest financial crisis in America and around the world since the Great Depression; his generous tax breaks for the rich, and job losses under his two terms in office that were the worst on record since World War II. The ugliness, as you like to frame it comes from anyone who has the unmitigated gall to blame the guy who is attempting to extinguish the fire as the arsonist who started it; but true to the talking points of the republican party, deny the truth and embrace the lie.

True there were some serious job lossses the last quarter of 2009, but look at this chart from the Bureau of Labor Statistics, the rate ranged from about 4% to just over 6% for much of the time. http://data.bls.gov/..._id=LNS14000000

I don't see how that can be described as the worst jobs record since WWII, but then again I'm not interested in repeating inaccurate rhetorical information.

I agree that the numbers are never accurate, but from 2008, the last year of the Bush presidency up to 2009 the numbers move up significantly due to the impact of the American Financial crisis; therefore this is a direct result of what I was discussing about the failed policies of the Bush Administration. Unemployment does in fact remain high in 2010, and President Obama does now, going into his second year of office, own those numbers . My argument however was the less then veiled attempt to dump this crisis on President Obama as if he created it. Nothing could be father from the truth and the facts speak volumes about the reality of the American Financial Crisis. Therefore, I was only pointing out the facts as I understand them, much in the same way you did with the unemployment numbers. I did look at them, and I thank you for bringing them to my attention.

[passon]

There is not doubt the financial crisis has hurt the American taxpayer. However, TARP was a necessary evil.

When the final tally is made the bottom line will be a worthwhile investment, Most of it will be paid back with

interest. Interest paid and profit on stock sold will more than cover any monies not paid back.

Although the Bush administration caused a lot of damage, Obama and company's runaway spending is leading to a spiraling deficit that will eventually lead to a financial crisis far worse than most Americans realize possible.

I not talking about politics, but the urgent need for sound fiscal and monetary policies. Sooner or later the printing presses will run out of ink.

The Bush administration caused "all" the damage," not a lot of it. Obama and company is an apparent snipe at the current administration, so your bias is obvious. President Obama had a very short window to fix a long term problem, which were the failed policies of the Bush Administration. So please let me indulge you and quote Simon Johnson Chief Economist at the International Monetary Fund from 2007 to 2008 and a professor at the M.I.T. Salon School of Management, who along with many other economist agree that, " The fiscal stimulus played a decisive role in reducing the depth and pain of the recession and is now helping to get a recovery under way." However, this is a fiscal problem unlike anything America has ever experienced since The Great Depression. This recovery has apparently dodged the bullet for a 2nd dip, or double dip recession which the IMF has already said is, "unlikely." However, there are still mitigating factors that could trigger a second wave of economic setbacks that would jeopardize an already fragile American economy, which is if, for example, the Chinese governments started selling off money borrowed by the Bush Administration to fund its war in Iraq. The Chinese own over 187 billions dollars in American Treasury Notes, so the U.S. government must walk a thin line when negotiating with China over trade imbalances or risk a sell off. But, once again, this is a problem created by President Bush, not President Obama. This financial crisis breaches the borders of the United States, so in some regards it is each man for himself to survive in a fiscal tsunami that has only abated itself with short term relief. TARP and TLGP were short term solutions that temporarily slowed the fast moving train of fiscal destruction. Many American jobs have been exported overseas and unemployment remains high. The solutions are evasive to the extent that the party of No has contributed little, if anything to a consensus of bipartisanship that might have led to a better dialogue between government and the private sector to find solutions that could have reinvented the wheels of innovation; and, as a result, created new jobs in new industries. I did not see you, me or anyone else run for the job of president, and I don't see you, me, or anyone else offering any better solutions, either. As I said earlier, I'm not doing handstands over President Obama's policies, but I can say this much, he is much more engaged in seeking out solutions, listening to all sectors of America and articulating his policies then his predecessor ever was. President Obama did not create this mess and there is little economic history to support what theories, or policies, or precedents might otherwise and effectively bring America back to economic prosperity. Iceland, Greece, Spain, Ireland, the UK and so many other countries are experiencing the same depths of economic disparity, which is further proof that the solutions are difficult and the road ahead will continue to be painful. A case in point is the Thailand Financial Crisis of 1997 and how long it has taken them to recover. Nothing of this magnitude will ever have easy solutions; and those printing presses? They ran out of ink long before President Obama, President Bush and a lot of other presidents before them, so a sound fiscal and monetary policy will unfortunately depend more on what is thrown at the wall, and what eventually sticks. Therefore, the current financial crisis is far worse than anyone in America could have ever imagined, and that is what happens in an environment of complacency, denial and arrogance.

By your logic then, Bush should have blamed Bill Clinton for his failed Foreign and Military Policies for causing the 9/11 attacks and any other related problems? Not to mention some of the economic policies under Clinton was the beginning of some of these current problems. And the Demcrats in congress had nothing to do with any of this?

Anyway, I provided some real information, not just the opinion of one group of economists, if you chose to ignore it that's up to you.

You were not talking about President Clinton, you were talking about President Bush and President Obama, and when President Clinton left office there was a deficit reduction and a surplus of 86.4 billion dollars. When Clinton left office economic growth was at 4.00% and his administrations policies created over 22 million jobs, median family income was up over 6,000.00 and unemployment was at its lowest rate in over 30 years. There was less poverty, more home ownership and less inflation. 9/11 happened on George Bush's watch, not on Bill Clinton's. Therefore, your current argument is that George Bush failed to recognize Bill Clinton's failed foreign and military policies by not reviewing them or implementing changes that may have otherwise prevented the events of 9/11? But of course that was not the issue, the issue was the fact that you attempted to demonize the policies of President Obama for (potentially) creating a larger financial crisis and minimize President Bush's role in creating the crisis that Obama is trying to resolve. Apparently you ran out of factual ammunition and took aim at another president, who also happens to be a democratic president; so, once again, your bias is obvious!

[asiawatcher]

Exclude the exporters.

Is this good for the general Thai people or not? If the currency in their pocket/bank gets appreciated?

It is good for those with cash because Thai Baht buys more now. For those who rely on export (rice etc) it is bad! When customers offshore have to pay more to buy rice, they will buy elsewhere. Its a two edged sword!

[passon]

No worries I have a feeling with yank elections leaning towards fiscal conservative policies I dare say a strong $ will return. Expect a bump after the elections.

Fiscal conservative policies is what got America into the mess it's in today, so what your saying is that the guys who robbed the bank should now be rehired to guard it. Realizing of course the bank no longer has any money in it to guard, that "bump after the elections" you are referring to, if the republicans win a majority in November (which is not necessarily a slam/dunk) will be the sound of the American economy crashing under the weight of fiscal mismanagement and corporate (special) interest. I'm not doing handstands with the policies of President Obama, but a republican majority is clearly not the solution, and a lot of Americans are beginning to sober up to that fact.

How did conservative fiscal policies cause the situation? Seems they weren't conservative enough, but of course the Democrats in congress wouldn't have had anything to do with that would they, easier to just ignore the facts and blame Bush.

There is something in life called the lesser of two evils. The democrats are far from perfect, but let's digress, shall we? President Bush left America with a 482 billion dollar deficit. Public debt swelled to 2 trillion dollars. Economic growth grew by just 1.9%. President Bush created only 58,000 new jobs with a record loss of 2.3 million jobs, the worst unemployment numbers since Herbert Hoover was president. Household income decreased by 1,000.00 which reduced the 6,000.00 increase under Clinton. Bush inherited a 5.6 trillion dollar, ten year projected trade surplus and transformed it into a 3.2 trillion dollar projected deficit. Foreign owned government debt increased from 1 trillion dollars in January 2001 to 2.4 trillion by the end of 2007. Housing foreclosures reached 2.5% of residential mortgages outstanding. 8.6 million more people lost their health insurance, national savings declined and under his watch all of this transformed into the biggest financial crisis in American history since The Great Depression. Are democrats blameless? Certainly not. But presidents have to own up to the failures of their policies, and Obama will have to own up to his, and he at least said as much early on into his presidency. However, the republican party when in the majority and when in the minority failed to challenge President Bush on his policies, and the republican party has shown us its ability to block legislation while in the minority over policies it does not agree with under the Obama Administration, and I have not seen one policy that has come out of the executive branch that the republican party has even attempted to find common with in order to get the economy moving, or offered alternatives other then the ones that created the financial crisis while George Bush was president. So, if we ignore the facts, Bush is blameless, but if we embrace the facts, Bush owns this crisis. The problem for President Obama is; what worked in the short term will probably not work in the long term, and if he fails to deliver he could very well end up being a one term president. However, if the alternative is to bring back the old guard, that's up to the America voter, but as I said previously, "a republican majority is clearly not the solution."

[Pattel]

No worries I have a feeling with yank elections leaning towards fiscal conservative policies I dare say a strong $ will return. Expect a bump after the elections.

Fiscal conservative policies is what got America into the mess it's in today, so what your saying is that the guys who robbed the bank should now be rehired to guard it. Realizing of course the bank no longer has any money in it to guard, that "bump after the elections" you are referring to, if the republicans win a majority in November (which is not necessarily a slam/dunk) will be the sound of the American economy crashing under the weight of fiscal mismanagement and corporate (special) interest. I'm not doing handstands with the policies of President Obama, but a republican majority is clearly not the solution, and a lot of Americans are beginning to sober up to that fact.

How did conservative fiscal policies cause the situation? Seems they weren't conservative enough, but of course the Democrats in congress wouldn't have had anything to do with that would they, easier to just ignore the facts and blame Bush.

There is something in life called the lesser of two evils. The democrats are far from perfect, but let's digress, shall we? President Bush left America with a 482 billion dollar deficit. Public debt swelled to 2 trillion dollars. Economic growth grew by just 1.9%. President Bush created only 58,000 new jobs with a record loss of 2.3 million jobs, the worst unemployment numbers since Herbert Hoover was president. Household income decreased by 1,000.00 which reduced the 6,000.00 increase under Clinton. Bush inherited a 5.6 trillion dollar, ten year projected trade surplus and transformed it into a 3.2 trillion dollar projected deficit. Foreign owned government debt increased from 1 trillion dollars in January 2001 to 2.4 trillion by the end of 2007. Housing foreclosures reached 2.5% of residential mortgages outstanding. 8.6 million more people lost their health insurance, national savings declined and under his watch all of this transformed into the biggest financial crisis in American history since The Great Depression. Are democrats blameless? Certainly not. But presidents have to own up to the failures of their policies, and Obama will have to own up to his, and he at least said as much early on into his presidency. However, the republican party when in the majority and when in the minority failed to challenge President Bush on his policies, and the republican party has shown us its ability to block legislation while in the minority over policies it does not agree with under the Obama Administration, and I have not seen one policy that has come out of the executive branch that the republican party has even attempted to find common with in order to get the economy moving, or offered alternatives other then the ones that created the financial crisis while George Bush was president. So, if we ignore the facts, Bush is blameless, but if we embrace the facts, Bush owns this crisis. The problem for President Obama is; what worked in the short term will probably not work in the long term, and if he fails to deliver he could very well end up being a one term president. However, if the alternative is to bring back the old guard, that's up to the America voter, but as I said previously, "a republican majority is clearly not the solution."

This thread is supposed to be about the Thai Baht, not a staging ground for arguing about whose fault it is that the USA is in such a financial mess.

[henryalleman]

They deal in baht gold not oz gold. Its less gold and more alloy metal. Current price is 18050/19050 per baht gold.

There is a goldmine near Pitsanulok production about 50 tons yearly, its an Aussie company btw.

[beechguy]

Back to the real toipic, it may make things more difficult for me if we see 25 Baht or less to the dollar, but I can adjust to it. Unfortunately for others that have retired already, or have some other issues this could be a real hardship, and I do have sympathy for them.

Edited October 7, 2010 by beechguy

[chantorn]

It is not the Baht that strengthen. It is the Dollar that went the other way.

[neverdie]

It is not the Baht that strengthen. It is the Dollar that went the other way.

There is definately some evidence to support that theory chantorn but I also believe that the Thai baht is STRONG. Its not the only strong currency in the world but its up there.

[passon]

Back to the real toipic, it may make things more difficult for me if we see 25 Baht or less to the dollar, but I can adjust to it. Unfortunately for others that have retired already, or have some other issues this could be a real hardship, and I do have sympathy for them.

Usara Wilaipich, senior economist at Standard Chartered, said regional strength had its roots in the impact of the global recession, with a loss of confidence in the dollar.

It is part of "the real topic," and some people decided to elaborate the causes of the global recession and how it relates to the loss of confidence in the dollar. We all know how it impacts those who rely on the strength of the dollar, and how it helps those who benefit from its weakness because their earnings are derived in Thai baht, so its fairly natural for people to want to speculate, vent or discuss alternatives to the effects of a strong baht. Therefore this is nothing more than an extension of ideas which becomes part of the real topic. 28 baht to the dollar, which seems very feasible at this point, is unfortunately my breaking point, but I'm happy to hear that you and others can probably sustain yourselves in a 25 baht to the dollar world. I on the other hand will have to pack it in, and that's a pretty sad reality from where I sit! Thailand has been my home for the last 6.5 years...

[rreddin]

Exclude the exporters.

Is this good for the general Thai people or not? If the currency in their pocket/bank gets appreciated?

One Baht still only buys one baht's worth of goods. Maybe the cost of gasoline and diesel will come down by a small amount, otherwise most people will not see any difference.

Exclude the exporters? 24% of Thai exports go to the USA! Those businesses exporting goods priced in $US do have cause for concern, particularly those supplying the US market.

[beechguy]

Back to the real toipic, it may make things more difficult for me if we see 25 Baht or less to the dollar, but I can adjust to it. Unfortunately for others that have retired already, or have some other issues this could be a real hardship, and I do have sympathy for them.

Usara Wilaipich, senior economist at Standard Chartered, said regional strength had its roots in the impact of the global recession, with a loss of confidence in the dollar.

It is part of "the real topic," and some people decided to elaborate the causes of the global recession and how it relates to the loss of confidence in the dollar. We all know how it impacts those who rely on the strength of the dollar, and how it helps those who benefit from its weakness because their earnings are derived in Thai baht, so its fairly natural for people to want to speculate, vent or discuss alternatives to the effects of a strong baht. Therefore this is nothing more than an extension of ideas which becomes part of the real topic. 28 baht to the dollar, which seems very feasible at this point, is unfortunately my breaking point, but I'm happy to hear that you and others can probably sustain yourselves in a 25 baht to the dollar world. I on the other hand will have to pack it in, and that's a pretty sad reality from where I sit! Thailand has been my home for the last 6.5 years...

I meant I don't really have time to continue debating it, but back to the politics momentarily. I just do not think it makes sense to blame one president for the the failings of a multi trillion dollar economy, and that goes for Obama too. But the Democrats have had considerable power in Congress since 2007, and I haven't seem them or President Obama do anything that gives me, and apparently others, cause to be optimistic. If people thought excessive spending was bad under GW, why would people think it's ok for us to spend even more now, that we don't have? Also, I do not just blame the politicians, corporations and the public have to face their share of responsibility.

So far as Baht levels, I hope it remains at a level so that people can continue to stay, but I'm afraid some have already reached their limit. And, from the looks of other currencies, there may not be a lot of options in relocating.

[britmaveric]

Actually more the baht being propped up for some odd reason. I see BOT probably going back to some pegged currency level because the high baht is going to sink all their exports and close business(s) in Thailand. Then add the sagging tourism industry and you have a major disaster.

[cloudhopper]

Actually more the baht being propped up for some odd reason. I see BOT probably going back to some pegged currency level because the high baht is going to sink all their exports and close business(s) in Thailand. Then add the sagging tourism industry and you have a major disaster.

Nonsense. The BOT is quite sensibly not joining the race the bottom. If the Baht devalues along with the USD it will mean higher energy and raw materials costs for those very same exporters not to mention the average guy buying electricity, fuel, fertilizer and cooking gas.

[sarahsbloke]

Has anyone mentioned rice prices

Thailand is a big exporter of rice, or it was a short while ago.

I believe Vietnam devalued its currency recently, so it can undersell Thailand with rice.

Now everyone buys their rice from Vietnam, nobody wants new contracts with Thailand.

[britmaveric]

^going to be a lot of that - as I said strong baht will ruin the thai economy especially with other SEA countries able to undercut them.

[jucel]

It is not the Baht that strengthen. It is the Dollar that went the other way.

There is definately some evidence to support that theory chantorn but I also believe that the Thai baht is STRONG. Its not the only strong currency in the world but its up there.

Yes the thai baht is definitely strong. The dollar pound cross is 1.60 yet the baht pound is 47!!! 47 is similar to 2008/09 when the pound dollar was approx 1.30 to 1.40

[jucel]

Has anyone mentioned rice prices

Thailand is a big exporter of rice, or it was a short while ago.

I believe Vietnam devalued its currency recently, so it can undersell Thailand with rice.

Now everyone buys their rice from Vietnam, nobody wants new contracts with Thailand.

devalued twice!!

[chiang mai]

Actually more the baht being propped up for some odd reason. I see BOT probably going back to some pegged currency level because the high baht is going to sink all their exports and close business(s) in Thailand. Then add the sagging tourism industry and you have a major disaster.

Brit, stop it.