Thai Baht

[vpi78]

Actually, I split time between the US and Thailand. Lots of us do that who have managed their money well and avoided the scam artists, "internet financial planners", and other poseurs out to separate others from their money.

Yes, Social Security will be nice when it comes in a few years but I'm not counting on it since Obozo and the Dems will eventually include means testing.

I like Nong Bua Lam PHu and the Loei area and I do have a place up here but don't get to spend as much time here as I would like, too much to do to stray in any one place for too much time. You probably travel frequently as well to avoid the people you scam.

You sure do make a lot of assumptions about things. I made it clear I don't live in Issarn. Just because I mange funds for a few people certainly doesn't make me an "internet scammer". All the people I manage funds for are very close friends. I would never manage funds for strangers as I would rather spend that time making money for my own friends and family. You can serach high and low through all my posts and you will never once see me soliciting anyone for anything. In fact, this thread was the first I even mentioned I trade forex and now I know better than to ever do that again on TV as there are too many old farts like yourself that have their heads up republicans asses.

So you "manage funds" of your mommy. I guess that is a form of money manager.

How is that hope and chage working out for you?

BTW, where were you in Iraq. i was in Baghdad/Daua power plant, Basrah airport and Mosul. It was hellish; great place to be away from..

[thehelmsman]

I was in Dubai - York Club, Pancho Villas and Imperial Bar. Very dangerous duty.

[Jayman]

Actually, I split time between the US and Thailand. Lots of us do that who have managed their money well and avoided the scam artists, "internet financial planners", and other poseurs out to separate others from their money.

Yes, Social Security will be nice when it comes in a few years but I'm not counting on it since Obozo and the Dems will eventually include means testing.

I like Nong Bua Lam PHu and the Loei area and I do have a place up here but don't get to spend as much time here as I would like, too much to do to stray in any one place for too much time. You probably travel frequently as well to avoid the people you scam.

You sure do make a lot of assumptions about things. I made it clear I don't live in Issarn. Just because I mange funds for a few people certainly doesn't make me an "internet scammer". All the people I manage funds for are very close friends. I would never manage funds for strangers as I would rather spend that time making money for my own friends and family. You can serach high and low through all my posts and you will never once see me soliciting anyone for anything. In fact, this thread was the first I even mentioned I trade forex and now I know better than to ever do that again on TV as there are too many old farts like yourself that have their heads up republicans asses.

So you "manage funds" of your mommy. I guess that is a form of money manager.

How is that hope and chage working out for you?

BTW, where were you in Iraq. i was in Baghdad/Daua power plant, Basrah airport and Mosul. It was hellish; great place to be away from..

My problem with you is that you keep throwing out these assumptions about things that you seem to know little about. I find it insulting as you are directing them towards me. You said there is no way I make money in forex. You called me an internet scammer. Now you are saying I manage funds for my mother.

None of this is true. I also never said anywhere that I work in Iraq. I said my family IS Iraqi. I live in Thailand and have not been to the US (my country of citizenship) for several years. I'm married to a Thai (holds a US green card) and have a few kids and we prefer life here to life in the US. I am also neither a dem or rep and don't think to highly of anyone that buys into the dual colors of the same team. It's faily obvious from your posts that you are a fox news loving rep. I find that hilarious. Probably buy into the whole "obama is a muslim and doesn't have a US birth cert" crap as well.

As for black water, olive group, Armour group, and the like.. I am all too familiar with them. As I told you, all the expats that founded and work for this Thai based security company come from them. Several of them still, to this day, rotate back to Iraq.

You obviously see things in only 2 ways.. black/white... all/nothing... and that's too bad. Open your mind and maybe you will see things for what they really are instead of just being one of the sheeple.

[fishhooks]

A'ynd.................................Now back to the currency!

Edited February 5, 2012 by fishhooks

[cdmtdm]

A'ynd.................................Now back to the currency!

lol ... yes where were we .... jayman you maybe accused of having WMD next ...

[Jayman]

ohh yeah.. currency.... GBP has been holding it's strength lately against all currency but more QE is looming and will have a negative impact on the value of the GBP. Of course this whole mess with Greece and the rest of the PIIGS is something to keep an eye on as BOE ha a lot of exposure to this debt and once the dominoes start falling the GBP will suffer as well. I have noticed that the GBP has been holding a bit as folks start to move funds into it as a "safe haven" currency after the swiss franc was pegged to the euro and the BOJ has continued it's threats of further intervention.

Of course, let it be known that ALL of the currency are very much manipulated by the Central Banks of the world. They call it intervention but lets call a spade a spade.. it's manipulation. If BOT raises interest rates that will cause the value of the THB to increase. The opposite is true if they cut rates. All countries are still being forced to hold quite a large reserve of USD as that is the official currency for all sales of OIL. It truly seems that a currency war is going on and it's a race to the bottom. It's hard for the smaller currencies to even keep up. It's not so much that the THB has increased in value against the others but rather they are being devalued at an alarming rate (read QE). In order to keep the export numbers up you need to weaken your currency to make you exports good value to the buyers. It's all a big game and I don't see the future of the THB winning the race to the bottom.

Edited February 5, 2012 by Jayman

[SantiSuk]

Agreed Jayman - more UK QE means it looks like I am going to have to buy a lot of baht rather quickly now (for personal use and SE Asia equity investment). My old target of 49 just went out of the window.

The old addage of keeping all your money 'safe' in the home country looks very dubious these days to intending-to-be long term residents.

Edited February 9, 2012 by SantiSuk

[robbo1]

It seems the Aussie Dollar is still going well, cross fingers it lasts until April/ May

[KhunG]

I live in Thailand and have not been to the US (my country of citizenship) for several years. I'm married to a Thai (holds a US green card) and have a few kids and we prefer life here to life in the US

OT: You mention you haven't been to the US for years. If your wife has not been to the US for over six months her green card is probably not going to be honored. They're intended for permanent residents of the US. We're working on getting my wife US citizenship before we move back to Thailand because of that, and also because of estate tax treatment of foreign spouses, etc.

Back on topic: When Bernanke announced QE3 in January, I quickly wired funds for our visit in a couple months to Thailand. Sure enough the dollar has been falling against the Baht on a daily basis, and prices - gasoline, food, etc. are rising.

[Jayman]

I live in Thailand and have not been to the US (my country of citizenship) for several years. I'm married to a Thai (holds a US green card) and have a few kids and we prefer life here to life in the US

OT: You mention you haven't been to the US for years. If your wife has not been to the US for over six months her green card is probably not going to be honored. They're intended for permanent residents of the US. We're working on getting my wife US citizenship before we move back to Thailand because of that, and also because of estate tax treatment of foreign spouses, etc.

Yes.. we are well aware of that thanks. 6 months is not the issue.. but once you go over a year out of the country then you run into issues maintaining the status. We have chosen to abandon the status as we have no intention of living/working in the US. If in the future that changes, we would have to go through it all again.

[BusyBee123]

_{did I miss something or did the op merely say he was missing the old days of 65-70 baht to the pound? where did the SAS heroes (only heroes to themselves the general population couldn't give a shit) jump in on it? You dont need to be a forex hero to know the exchange rate will not change for 3-4 years so just deal with it.}

[kwonitoy]

It's amazing how these threads drift or outright vear 180 degrees from the OP.

Currency (Re: Thai baht)

I have a job in the oilpatch (never been associated with the military)

I get paid in a variety of curriencies and found out long long ago trying to time exchanging money from what I got paid in to what I wanted to spend in was a crap shoot.

I would pick a sweet spot and win and then wait and lose.

I don't know what will happen with any exchange rates and neither does anyone else, other wise we'd all be driving gold plated cars

I now, and have for years, exchanged each payroll as it arrives without checking the rates, over time it averages out (think dollar cost averaging as in investing)

Ken

Edited February 18, 2012 by kwonitoy

[SantiSuk]

The baht-pound rate has traded in a narrow band of roughly 47 to 50 for the last 18 months. No point in wishing for a return to heady days, given prospective relative growth rates in the UK and Thailand. Just monitor the rate carefully (at least weekly) and when it spikes (albeit spikes are very modest) hit it with a transfer of some substance. I managed to get at least one year's spending accross here at a rate of 50 in 2010. Last year it was 49.5. I'll hit it again this year if and when it goes over 49. Yes - one year I'll get caught out and it will continue to rise above my target rate but like all investing it's sensible to strike when it's toasty-warm, rather than waiting and hoping for a red-hot day.

No use as a suggested strategy obvious;ly if you have to bring money into Thailand on an as-earned basis.

48.5 at Ubon airport last night and 48.78 at a KrungThai booth in BTS On Nut (Bangkok) this morning. I hit it hard with cash this morning and would do the same if I could get that rate with a bank transfer. Unfortunately my bank (HSBC) is more interested in selling out its retail customers than in offering decent rates on the Thai baht, but Bangkok Bank has been hovering in the high 48s for the last couple of weeks. Ill be happy if it gets even better (and will get some more baht then) but at least I won't be a sore loser if it traces back down into the 46/47 zone.

PS - the Swampy rate last night was 47.3 or something like that. Disgusting - the unsuspecting tourist hands over a 2%+ premium on top of the handsome premium the banks are already making. Start milking, as you mean to go on, shai mai Thailand?

[how241]

OZ dollar is not strong against the Baht, remember 33 Baht to the dollar, when the dollar was weak. The world no longer revolves around the Dollar, Euro, or pound. Jim

True.

[malct]

Getting 49.60 in Pattaya , will it continue to go UP!!