Warning! Fake Bt1,000 And Bt100 Banknotes Circulating In Thailand

[newsweird]

I guess that explains the 11% growth in economy over the last quarter as it sure was not due to exports or tourism

[12DrinkMore]

I guess that explains the 11% growth in economy over the last quarter as it sure was not due to exports or tourism

The Thai economy grew just 0.3% over the year.

The first quarter was skewed by the flooding in the previous quarter, which resulted in a huge contraction of 10.8% in that quarter.

It shows that the Thai economy has got back to where it was after a very short time. Indicating that the economy is resilient and strong.

[surangw]

Opportunity for police to shake down innocent tourists caught with fake bills ?

[khaowong1]

These writers are amazing. They think they know a little English so they go wild. They couldn't get a job with the local High School newspaper. "enjoying the sunset, caveat emptor.. Jeez..

[khaowong1]

Lets see here...my Thai general brother in law is stationed near hat yai and lives in Nan and is building a 25 million baht home with a huge swimming pool...can you spell money laundering? Something stinks here

And the local Thai population just thinks how wonderful it is he could save so much money on his Army salary, right?

[fred007]

Should read..... Real 1000 THB Found in Fake Thailand ...... ....like the watch shop that says Genuine Rolex Copy only sold here ....

[robia6]

i love this quote:

The fake banknotes are smaller in size than the real one and when you pour water on the fake ones the color will fade.

Good god, if you are going to go to all the trouble of counterfeiting money, i would think the dimensions of the bill itself would be the one thing that is actually easy to get right.

If you make them just a little bit shorter, you can get six out of an A4 sheet.

[robia6]

They obviously forgot the check box on pdf printing options that's set as default for shrink to fit!

[BookMan]

He also said that these banknotes will damage the local economy.

I wonder if that is indeed the case? The guy simply does not understand economics.

Now, if you gauge the health of the economy by the amount of goods and services that are being sold, then by injecting a bit of extra cash into the local economy it would give a boost as, there will be a little more money sloshing around. Provided the counterfeiters don't go overboard, they could even grow the local economy into a boom, as with the extra cash more infrastructure would be built, more people would gain employment.

The problem would be if they pushed too much too quickly, causing the rate of increase of demand to exceed the rate of increase of production leading to inflation.

I think that a healthy dose of perfectly made THB1000 would increase the wealth of the local economy. In much the same way that by sending real THB 1000 from Pattaya to Nackonelsewhere the economy of Nackonelsewhere is given a boost.

So, who are the losers in this?

1. the Treasury, as it loses the seigniorage from printing the notes, but that is not a significant source of income, as when the old banknotes are taken out of circulation that money is refunded to the commercial banks.

2. the commercial banks, as the money comes directly into circulation without putting someone into debt and paying interest.

So, (hope I'm not going to be banned for this )

The counterfeiters should carry on, as the main losers are the bloody commercial banks

And, if you don't believe me, here is an interesting factlet.

Only about 3% of the money in the western economies has been issued by the government. All the rest has been created by, and for the profit of, the bloody commercial banks through lending it into existence.

Take the Greeks. Once the banks take it into their heads to withdraw funding, they can send an entire country in massive depression. What Greece needs now is a print of EUR 100 counterfeit notes and passed into the economy, putting cash into the hands of the jobless and destitute, so they can once again buy stuff, and even pay off the bankers.

Sorry about that, a little bit of scope expansion.

We should all just print out as much money as we need individually.

Can't see any problem developing from that scenario!

[robia6]

I saw one of these fake 100 baht notes last night. Don't know how someone got away with giving it to my mate in his change, as the back of it didn't line up with the front of it, resulting in half the back of a note and half plain white paper!

[osiboy]

incredible,..........wonder which embassy 7/11 will take their complaint to ?

[ginjag]

Should read..... Real 1000 THB Found in Fake Thailand ...... ....like the watch shop that says Genuine Rolex Copy only sold here ....

Did they get a global award, for not having fakes here. Have you noticed Thailand is always top or very near the top in all world polls conducted, aviation, cities, country most visited,shopping malls,floods,smiles, scams, miracle-and amazing