Thai Finance Minister: Obama Policies May Affect Thai Baht

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Thai Finance Minister: Obama policies may affect Thai baht

By English News

BANGKOK, Nov 8 – US President Barack Obama’s policy will contribute to weakening the US dollar and will add significant pressure leading to the strengthening of currencies in the Asian region, including the baht, Thai Deputy Prime Minister and Finance Minister Kittiratt Na Ranong said today.

Mr Obama’s re-election will support the continued implementation of his administration’s economic policies particularly, a third round of quantitative easing, or QE3.

However, the Bank of Thailand (BoT) has measures to stabilise the baht from further appreciation in comparison with other trade partners and business competitors.

Meanwhile, the government will focus on managing the balance of supply and demand of foreign currencies. The government will also support mega investments in the state sector and facilitate private investment in other countries.

It will extend tax privilege measures for private companies to import machines to replace labour.

“Regarding the baht valuation, it is not necessary to intervene in the market but to adjust balance between demand and supply. Thailand does not need to achieve a current account and trade surplus all the time. When it is the right time, it should invest to help ease pressure on the baht,” Mr Kittiratt said. (MCOT online news)

-- TNA 2012-11-08

[Thai at Heart]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

[Skywalker69]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

This shows what we all know, the Govrnment is full of experts.........whom dosen't have à clue.

[Pimay1]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

This shows what we all know, the Govrnment is full of experts.........whom dosen't have à clue.

Now now don't be too hasty. Some of the experts know how to push water into the ocean with a few boats.

[seminomadic]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

Well, maybe they'll be glad again tomorrow. We'll just have to see.

[antpet]

May ....................... as in could, possibly, perhaps etc.

A non story as it expresses a hypothetical situation. As in I may be an alien, made of cheese and weighing 600 pounds. Then again, I may not.

[bigbamboo]

Well if you can't trust Kittikat who can you trust?

[davejones]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

This shows what we all know, the Govrnment is full of experts.........whom dosen't have à clue.

Just two people with differing points of view. Nothing at all wrong with that. Same in every country. It would be strange if everyone agreed. The world is a very complex place and no-one can predict what will happen in the future.

[Thai at Heart]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

This shows what we all know, the Govrnment is full of experts.........whom dosen't have à clue.

Just two people with differing points of view. Nothing at all wrong with that. Same in every country. It would be strange if everyone agreed. The world is a very complex place and no-one can predict what will happen in the future.

Well i comment more from the point if view that a think tank actually got together to weigh Obama versus Romney having an effect on Thailand and they came up with basically nothing.

Strewth. What did they do? Play tiddly winks for a few hours? No possible effects?

[jerrysteve]

EXPERTS in Thailand are like Economists: Ask 10 Economists same question, and your will get a 10 different answers.

Better answers might come for a person who reads Tarot Cards in and around Nana for 150 Bhat.

[Thai at Heart]

EXPERTS in Thailand are like Economists: Ask 10 Economists same question, and your will get a 10 different answers.

Better answers might come for a person who reads Tarot Cards in and around Nana for 150 Bhat.

What happens when you ask Economic Experts? Exponential confusion?

[asiawatcher]

There are no experts in anything in Thailand - only the politicians who think they are - all legends in their own lunch times. But Big O back in the chair? Bye bye USD. I have been quoting jobs in currencies other than USD and hasn't that been causing a stir, and when asked I tell them, if the US continues to print money to pay debt thinking they have unlimited credit, I just cut up their credit card. There is nothing backing them printing money other than their BS attitude thinking there are 'good for it'. Well I have bad news for you boys out there. On the other hand, the continuing screw ups by the Thai Govt, I doubt the Baht will remain high either.

[pisico]

There are no experts in anything in Thailand - only the politicians who think they are - all legends in their own lunch times. But Big O back in the chair? Bye bye USD. I have been quoting jobs in currencies other than USD and hasn't that been causing a stir, and when asked I tell them, if the US continues to print money to pay debt thinking they have unlimited credit, I just cut up their credit card. There is nothing backing them printing money other than their BS attitude thinking there are 'good for it'. Well I have bad news for you boys out there. On the other hand, the continuing screw ups by the Thai Govt, I doubt the Baht will remain high either.

Printing money to cover expenses is bad enough for any country. The USA borrows from China and Japan among others to finance the printing. The US Dollar will plummet. 16 Trillion in debt thus far.

I do not know this fact. Does anyone know if Thailand borrows money in likewise manner (from other countries) to support spending and running of government, a la USA? What is Thailand's foreign debt?

[noob7]

"It will extend tax privilege measures for private companies to import machines to replace labour."

Why waist the revenue options of big (and good connected) players in the private area and try to create jobs for every Thai, first, before rising the machine park, by low taxes on the machines and savings for 'high' minimum wages!

Oh, I forgot. Thailand isn't having such thing like real welfare payments. The families in the north will have to grow more girls, to compensate!

[noob7]

There are no experts in anything in Thailand - only the politicians who think they are - all legends in their own lunch times. But Big O back in the chair? Bye bye USD. I have been quoting jobs in currencies other than USD and hasn't that been causing a stir, and when asked I tell them, if the US continues to print money to pay debt thinking they have unlimited credit, I just cut up their credit card. There is nothing backing them printing money other than their BS attitude thinking there are 'good for it'. Well I have bad news for you boys out there. On the other hand, the continuing screw ups by the Thai Govt, I doubt the Baht will remain high either.

Printing money to cover expenses is bad enough for any country. The USA borrows from China and Japan among others to finance the printing. The US Dollar will plummet. 16 Trillion in debt thus far.

I do not know this fact. Does anyone know if Thailand borrows money in likewise manner (from other countries) to support spending and running of government, a la USA? What is Thailand's foreign debt?

~115 Billion US$, ~40% GDP

http://www.indexmund....aspx?c=th&v=94

Edited November 8, 2012 by noob7

[meatballs]

There are no experts in anything in Thailand - only the politicians who think they are - all legends in their own lunch times. But Big O back in the chair? Bye bye USD. I have been quoting jobs in currencies other than USD and hasn't that been causing a stir, and when asked I tell them, if the US continues to print money to pay debt thinking they have unlimited credit, I just cut up their credit card. There is nothing backing them printing money other than their BS attitude thinking there are 'good for it'. Well I have bad news for you boys out there. On the other hand, the continuing screw ups by the Thai Govt, I doubt the Baht will remain high either.

Printing money to cover expenses is bad enough for any country. The USA borrows from China and Japan among others to finance the printing. The US Dollar will plummet. 16 Trillion in debt thus far.

I do not know this fact. Does anyone know if Thailand borrows money in likewise manner (from other countries) to support spending and running of government, a la USA? What is Thailand's foreign debt?

US doesn't borrow from anybody. These countries buy treasures to keep their currencies weak and support exports. US can print anything it wants because it has the reserve currency(dollar).

[noob7]

There are no experts in anything in Thailand - only the politicians who think they are - all legends in their own lunch times. But Big O back in the chair? Bye bye USD. I have been quoting jobs in currencies other than USD and hasn't that been causing a stir, and when asked I tell them, if the US continues to print money to pay debt thinking they have unlimited credit, I just cut up their credit card. There is nothing backing them printing money other than their BS attitude thinking there are 'good for it'. Well I have bad news for you boys out there. On the other hand, the continuing screw ups by the Thai Govt, I doubt the Baht will remain high either.

Printing money to cover expenses is bad enough for any country. The USA borrows from China and Japan among others to finance the printing. The US Dollar will plummet. 16 Trillion in debt thus far.

I do not know this fact. Does anyone know if Thailand borrows money in likewise manner (from other countries) to support spending and running of government, a la USA? What is Thailand's foreign debt?

US doesn't borrow from anybody. These countries buy treasures to keep their currencies weak and support exports. US can print anything it wants because it has the reserve currency(dollar).

That's the FED. The FED is not the USA.

But that the FED is doing it, is one thing, why the US$ is so weak.

The debt of the US is around 15.000 Billion or so. (15 Trillion)

"Definition of Debt - external: This entry gives the total public and private debt owed to nonresidents repayable in foreign currency, goods, or services"

[Skywalker69]

Last week there were not supposed to be any major effects to the Thai economy. Yesterday, it was supposed to be all good that he won......

This shows what we all know, the Govrnment is full of experts.........whom dosen't have à clue.

Now now don't be too hasty. Some of the experts know how to push water into the ocean with a few boats.

Its ok as long as he don´t do it with nuclear subs.

[Skywalker69]

May ....................... as in could, possibly, perhaps etc.

A non story as it expresses a hypothetical situation. As in I may be an alien, made of cheese and weighing 600 pounds. Then again, I may not.

Like a big "definitive" maybe.

[pisico]

Does anyone know if Thailand borrows money in likewise manner (selling treasury bonds to other countries) to support spending and running of government, a la USA? What is Thailand's foreign debt?