FIDF Debt Of Bt1.14 Trillion To Be Cleared In 24 Years: Bank Of Thailand

[rubl]

And one winner was Chavalit.....

With Deputy PM Thaksin standing one meter behind him.

The Thaksin who MADE money on the devaluation, while most others went belly up.

Insider Trading.... he'd be doing 20 years in Danbury for what he did, if he did that in USA.

And Thaksin has said the cost of the bail out of the IMF loan, for the debacle he helped start,

was paid off by himself permanently. Well that is the EXACT same loan shift he did then,

that they are shifting 10 years later. Double secret hidden debts.

"Thaksin was one of the few Thais who gained financially from the collapse of the Thai baht (McCargo and Pathmanand 2005)"

http://findarticles....1/ai_n29325863/

Edited February 24, 2012 by rubl

[sparebox2]

Robbing the people blind.

Thaksin style.

[Reasonableman]

And one winner was Chavalit.....

With Deputy PM Thaksin standing one meter behind him.

The Thaksin who MADE money on the devaluation, while most others went belly up.

Insider Trading.... he'd be doing 20 years in Danbury for what he did, if he did that in USA.

And Thaksin has said the cost of the bail out of the IMF loan, for the debacle he helped start,

was paid off by himself permanently. Well that is the EXACT same loan shift he did then,

that they are shifting 10 years later. Double secret hidden debts.

"Thaksin was one of the few Thais who gained financially from the collapse of the Thai baht (McCargo and Pathmanand 2005)"

http://findarticles....1/ai_n29325863/

An illuminating article that should be compulsory reading for all amnesiacs, thanks Rubi.

[WackySomchai]

The result of Thaksin Thinks is Thailand Sinks ...

[animatic]

And one winner was Chavalit.....

With Deputy PM Thaksin standing one meter behind him.

The Thaksin who MADE money on the devaluation, while most others went belly up.

Insider Trading.... he'd be doing 20 years in Danbury for what he did, if he did that in USA.

And Thaksin has said the cost of the bail out of the IMF loan, for the debacle he helped start,

was paid off by himself permanently. Well that is the EXACT same loan shift he did then,

that they are shifting 10 years later. Double secret hidden debts.

"Thaksin was one of the few Thais who gained financially from the collapse of the Thai baht (McCargo and Pathmanand 2005)"

http://findarticles....1/ai_n29325863/

An illuminating article that should be compulsory reading for all amnesiacs, thanks Rubi.

http://findarticles....1/ai_n29325863/

"On July 2, 1997, the BOT gave up its fixed exchange rate and floated the baht (stopped buying and selling to keep the baht's value fixed). By January 1998, the baht had fallen to US$1 for 54 baht. In January 1998, George Soros could exchange US$1 billion for 54 billion baht on the spot market (the market using current prices). He could then use his forward contracts to exchange the 54 billion baht for more than US$2 billion--more than doubling his money. (2) Soros took advantage of Thailand's problems to make a huge personal profit and in the process Thailand was devastated."

What this doesn't say is Soros wasn't the only one, he's just the poster-boy farng for this pillage.

During the week prior to July 2nd '97 there was much discussion about floating the baht.

Chavalit assured all the Friday before, and into the week, that he would not do that.

On wednesday the baht was floated with no warning...

except to those in close to the administration, like Thaksin.

Edited February 24, 2012 by animatic

[jsflynn603]

Seems like a nice plan to me. It sure beats America's plan to pay of its debt. Though the MSM (main stream media) doesn't mention it often the plan to pay off america's debt is to do it over 24,000 years.

[anterian]

Is this any different from what is happening in America and Europe, every government seems determined to put its children and grandchildren into debt.

[Thai at Heart]

Well, I guess people are going to have to start paying their taxes then aren't they. Any country can't even hope to have any type of social system if the tax take isn't sufficient. Trying to run one as generous as Greece's with the lack of tax take they had was destined for disaster.

However, the black economy here is extremely large, but if the government actually took out of the economy what it was supposed to be able to get its hands on, it probably wouldn't know what to do with all the money.

[Pib]

Though I am uneasy about the whole issue of this debt being transferred to the BOT, the reality is the the debt has only been moved and still exist but, in its new home, there will maybe be some responsibility taken to actually deal with it rather than ignoring as seems to have been done before.

Within a few years the government of the day will be bad-mouthing BOT for accumulating such a debt. Unfortunately, when the BOT of reminds the govt the debt was transferred to them by a previous govt (like a hot potato) it won't keep the govt from saying the BOT needs to get the debt paid off so the country can borrow more. Call it western govt style debt management...keep the currency printing presses going at full speed!!!