GBP to THB Exchange Rate

[Thailand1977]

Besides ive 30000USD ive got to convert to sterling and ive been waiting for it to get to 1.53 for sometime (should have jumped in at 1.54), the quicker it drops the better imho.

[thenervoussurgeon]

[i suppose because of your financial position ,you cant afford one?

If i had all the money in the world i wouldn't go near a Thai women again, well apart from my kid.

Besides this is the internet so im really rich hansum and successful.

Well i didnt buy my wife and we were married 20 years ago ,she is a wonderfull woman ,helped me bring up my daughter from my first marriage and gave me a lovely son ,I was married before and had loads of girl friends in the past ,but gave it up to be a good husband ,

ps I am tall dark and hansum on the internet as well.

[Thailand1977]

[i suppose because of your financial position ,you cant afford one?

If i had all the money in the world i wouldn't go near a Thai women again, well apart from my kid.

Besides this is the internet so im really rich hansum and successful.

Well i didnt buy my wife and we were married 20 years ago ,she is a wonderfull woman ,helped me bring up my daughter from my first marriage and gave me a lovely son ,I was married before and had loads of girl friends in the past ,but gave it up to be a good husband ,

ps I am tall dark and hansum on the internet as well.

Yep there are more important things then the value of the pound.

[chiang mai]

I agree with an earlier poster who suggests that THB may weaken slightly when/if the bank rate is reduced, I expect to see at least two quarter point cuts before mid year. But then there's the other side of the equation, GBP, and what a mess that is - it's continuing to weaken against EUR so UK import costs will rise and inflation looks likely to take a serious hold, that seems to fit with Mr Carneys agenda so don't expect much short term help from the BOE. So with GBP continuing its long devaluation against a currency whose inclination is to soar and has to be frequently tied down, the GBP/THB future doesn't look that great to me, for holders of GBP that is. And whilst I personally am OK for baht for several years I do worry about what to do with my GBP holdings, it might just be that it;s time to buy UK property as a hedge against the almost certain inflation that's heading our way..

[mccw]

^ the thing I'm worried about with my UK property is when inflation reaches point where rents can not rise any further or fall because tenants are over burdened by other essentials. It has reached that point already with the rooms and studios I rent and am always getting begs for discounts from existing tenants. That's one reason why I'm converting to student houses; on the idea that students must have back up from parents and there there for less pressure, especially the asian students pay a premium since no uk garrantor but are very low risk to default.

[chiang mai]

I suspect that risk may not materialize, the rental rates you charge will probably reach stellar heights although when they do, 1GBP will likely = 20THB.

[phutoie2]

I have a theory, when the price of a can of LEO rises my GBP/THB rate starts to go down the pan. I suspect the old girl who runs my local watering hole studies ex rates in her spare time.

Currently working on a Naam graph to back this up.

[metisdead]

Inflammatory and profanity posts removed. Off topic posts have been removed as well.

[mccw]

My views are from experience of having to deal with these thieving benefits scum. I started out thinking like ah why not just give these guys a chance? but soon learnt the reason why landlords say never to rent to anyone on benefits. Cost me thousands in court fees and lost rent at first; thats money out of my kids future, not like ripping off the council or a bank, its personal; unfortunately I had to take it up a level, make an example to make it clear system or no system I wasn't going to be taken for a fool. I feel sorry for the one house landlords who loose everything because they can't make the mortgage payments due to some selfish who choose hide behind the law and not pay for months on end. (One women with her daughter in my neighbourhood went on working abroad for a six months and come back, the tenant stopped pay and wouldn't leave, the owner house and her kid had to live in the garden in a tent while waiting court. The law is obscene)

I've got bare mates who are plumbers, sparkies, HGV drivers, labourers etc, they all feel the same about the scongers. Why should our taxes pay for drugy layabouts? there's skills shortages and jobs available; why do you think the poles can turn up with no state aid and be working with in a week or two? Coz they're motivated; British youth ain't motivated coz they can sit on thier arse, drink, blaze or sniff K, sleep n watch telly for free! That is sick! Same or worse sick than the thieving bankers, at least those ......insert profanity....... actually have to go to work and do something to get there.

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it. For better or worse the Pound is going down; + we're post peak oil already and inflations just getting going. Money is flowing out of UK thanks to free markets money managers looking for green pastures, also workers remittances (NHS also- see they demographic changes there too over last 15years + care homes, the list goes on and on, farms, factories, etc etc), plus we have no real manufacturing, G Brown left us with not much physical gold, No real meaningful debate, so really honestly short, medium and long term it all looks down hill for the £ .

Gbp could go to 20 I'm sure with in 5years; its not unthinkable.

Also the UK laws are so over the top in terms of regulation, enforcement, human rights, health & saftey, tax, etc so as to badly discourage enterprise, that unlike Thailand people will be left with astronomic food and essentials bills with no means to take care of themselves. Only hope is the state is so broke that the whole rubbish gets torn up and we start again , back to a bit of common sense.

Leaving the EU would be a step in the right direction. If it crashes ourselves and them then so be it. It's got to the point of being more about reclaiming democracy and individual freedoms than short term agendas. How bad do people think the referendum effects will be on the exchange rates?

(Edited to comply with forum rules I hope. I'm afraid I didn't see the mod post since I was in the reply window. I think This is all absolutely on topic due to it being the reasons behind Brit economy and therefor gbp to bht etc past and projections)

Edited February 7, 2013 by mccw

[mccw]

I paid a reasonable amount of cash in to my UK bank today. I Was questioned why so much cash and where had it come from, etc. ... and what was I going to do with it. Would I like a savings bla bla for 0.75%? "No thanks - that'll build me half a house in Thailand and the banks pay better % there anyway". The look on face wasn't quite so classic as in 08 when I withdrew all our savings and, when asked what for, announced loudly that it was to buy gold because banks can't be trusted.

[meatboy]

My views are from experience of having to deal with these thieving benefits scum. I started out thinking like ah why not just give these guys a chance? but soon learnt the reason why landlords say never to rent to anyone on benefits. Cost me thousands in court fees and lost rent at first; thats money out of my kids future, not like ripping off the council or a bank, its personal; unfortunately I had to take it up a level, make an example to make it clear system or no system I wasn't going to be taken for a fool. I feel sorry for the one house landlords who loose everything because they can't make the mortgage payments due to some selfish who choose hide behind the law and not pay for months on end. (One women with her daughter in my neighbourhood went on working abroad for a six months and come back, the tenant stopped pay and wouldn't leave, the owner house and her kid had to live in the garden in a tent while waiting court. The law is obscene)

I've got bare mates who are plumbers, sparkies, HGV drivers, labourers etc, they all feel the same about the scongers. Why should our taxes pay for drugy layabouts? there's skills shortages and jobs available; why do you think the poles can turn up with no state aid and be working with in a week or two? Coz they're motivated; British youth ain't motivated coz they can sit on thier arse, drink, blaze or sniff K, sleep n watch telly for free! That is sick! Same or worse sick than the thieving bankers, at least those ......insert profanity....... actually have to go to work and do something to get there.

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it. For better or worse the Pound is going down; + we're post peak oil already and inflations just getting going. Money is flowing out of UK thanks to free markets money managers looking for green pastures, also workers remittances (NHS also- see they demographic changes there too over last 15years + care homes, the list goes on and on, farms, factories, etc etc), plus we have no real manufacturing, G Brown left us with not much physical gold, No real meaningful debate, so really honestly short, medium and long term it all looks down hill for the £ .

Gbp could go to 20 I'm sure with in 5years; its not unthinkable.

Also the UK laws are so over the top in terms of regulation, enforcement, human rights, health & saftey, tax, etc so as to badly discourage enterprise, that unlike Thailand people will be left with astronomic food and essentials bills with no means to take care of themselves. Only hope is the state is so broke that the whole rubbish gets torn up and we start again , back to a bit of common sense.

Leaving the EU would be a step in the right direction. If it crashes ourselves and them then so be it. It's got to the point of being more about reclaiming democracy and individual freedoms than short term agendas. How bad do people think the referendum effects will be on the exchange rates?

(Edited to comply with forum rules I hope. I'm afraid I didn't see the mod post since I was in the reply window. I think This is all absolutely on topic due to it being the reasons behind Brit economy and therefor gbp to bht etc past and projections)

100% correct you must have read my post before it was deleted.

[Thailand1977]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who are dependent on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high mortgage repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite.

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you talk about wanting manufacturing but also want some of the highest property prices in the world tells me you're not the brightest star in the sky ... its not very joined up thinking is it.

If property was half the price as it would be if the market was free, i would have a spare 100K to buy British manufactured equipment for my job, thus i'd then be employing people and the economy would grow and so would the value of sterling... this will not happen and there must be millions like me who can't take the risk due to shelter prices being rigged.

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme, and its killing the country and the currency.

Edited February 7, 2013 by Thailand1977

[chiang mai]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who depend on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme.

You know T1977, some of us might actually be able to agree with much of what you have written here, the trouble is that you don't even give it a chance because you assume, right out of the starting gate, that we all are a part of that enemy that you hate and loathe so much. Get rid of the chip on your shoulder, stop making assumptions about people about whom you know nothing and there might actually be a sensible debate to be had!

[nong38]

I agree with an earlier poster who suggests that THB may weaken slightly when/if the bank rate is reduced, I expect to see at least two quarter point cuts before mid year. But then there's the other side of the equation, GBP, and what a mess that is - it's continuing to weaken against EUR so UK import costs will rise and inflation looks likely to take a serious hold, that seems to fit with Mr Carneys agenda so don't expect much short term help from the BOE. So with GBP continuing its long devaluation against a currency whose inclination is to soar and has to be frequently tied down, the GBP/THB future doesn't look that great to me, for holders of GBP that is. And whilst I personally am OK for baht for several years I do worry about what to do with my GBP holdings, it might just be that it;s time to buy UK property as a hedge against the almost certain inflation that's heading our way..

Sounds like good reasoning to me CM, not so sure about property though, in the UK they are also in the doldrums. pretty much like the UK economy, no doubt the new Gay Marriage Bill will help the economy surge though

[nong38]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who are dependent on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high mortgage repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite.

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you talk about wanting manufacturing but also want some of the highest property prices in the world tells me you're not the brightest star in the sky ... its not very joined up thinking is it.

If property was half the price as it would be if the market was free, i would have a spare 100K to buy British manufactured equipment for my job, thus i'd then be employing people and the economy would grow and so would the value of sterling... this will not happen and there must be millions like me who can't take the risk due to shelter prices being rigged.

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme, and its killing the country and the currency.

We have a government who (whatever ilk) tax us to the hilt, give it to all and sundry, esp if you are nor born and brd in the UK and whatever class you are it does not matter you are fodder for tax, in my lifetime I have seen the country change so much and very very little of it to my advantage, Sad to say but my my first 3 week visit to Thailand showed me the pros and cons difference and its widened every year since.

I may be stuck in the past but I remember when the UK was a great place to live, it was full of British people I remember.

[Thailand1977]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who depend on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme.

You know T1977, some of us might actually be able to agree with much of what you have written here, the trouble is that you don't even give it a chance because you assume, right out of the starting gate, that we all are a part of that enemy that you hate and loathe so much. Get rid of the chip on your shoulder, stop making assumptions about people about whom you know nothing and there might actually be a sensible debate to be had!

There has been many presumptions about me, i have merely retorted.

As for a chip on my shoulder, well when it is in relation to the government screwing over a generation of British people who mostly work hard but don't stand a chance of being able to afford a simple house to raise a stable family which was always deemed the norm then i'd like to keep my chip there.

And i most certainly will always have a chip on my shoulder when a landlord mentions kicking English people onto the streets because they can no longer be squeezed into paying higher extortionate rents and being replaced by Asian students. Its exactly this mentality that's ruined the country where people only think of the here and now.... yet some claim this to be capitalism, it most certainly is not.

Sooner or later the economy will go pop devaluing the pound further, unfortunately i suspect they'll keep the plates spinning for another couple of years at least. But in the meantime isn't Thailand doing a fine job of borrowing more then they earn?

[mccw]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who depend on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme.

You know T1977, some of us might actually be able to agree with much of what you have written here, the trouble is that you don't even give it a chance because you assume, right out of the starting gate, that we all are a part of that enemy that you hate and loathe so much. Get rid of the chip on your shoulder, stop making assumptions about people about whom you know nothing and there might actually be a sensible debate to be had!

There has been many presumptions about me, i have merely retorted.

As for a chip on my shoulder, well when it is in relation to the government screwing over a generation of British people who mostly work hard but don't stand a chance of being able to afford a simple house to raise a stable family which was always deemed the norm then i'd like to keep my chip there.

And i most certainly will always have a chip on my shoulder when a landlord mentions kicking English people onto the streets because they can no longer be squeezed into paying higher extortionate rents and being replaced by Asian students. Its exactly this mentality that's ruined the country where people only think of the here and now.... yet some claim this to be capitalism, it most certainly is not.

Sooner or later the economy will go pop devaluing the pound further, unfortunately i suspect they'll keep the plates spinning for another couple of years at least. But in the meantime isn't Thailand doing a fine job of borrowing more then they earn?

Irresponsible lending snd people living beyond thier means applies to some in every class as much as the other.

Property is expensive because there is a shortage. This has more to do with planning restrictions, Eco standards etc than anything else. It's the lending that fed the bubble but its shortage that holds prices high. Regulation that stops existing stock being used to capacity, ie councils demanding minimum room sizes.

The laws are what dis advantages british renters in the same way it does for jobs. That is is so hard to get rid of bad people that the good ones aren't worth the risk either.

Your attitude is like that of an angry red shirt, full of hate and jealously; but at the same time wishing for it for yourself or family. It commendable to work hard to send your kid to a good school but I wonder if you'd treat her with the same sustain if she got a good white collar job and bought some BTL investments- would you advise her to charge under market value and fill them full of benefits layabouts? How would you feel when they all start not paying and she's face with loosing her house or can't afford the kids private school fees?

Your racist assertion that Asians aren't welcome to come study and have a place to live in England is a real double standard when you proclaim to travel the world Working in other countries. By your reasoning locals should be trained up and your the parasite stealing their jobs.

[Thailand1977]

Irresponsible lending snd people living beyond thier means applies to some in every class as much as the other.

Property is expensive because there is a shortage. This has more to do with planning restrictions, Eco standards etc than anything else. It's the lending that fed the bubble but its shortage that holds prices high. Regulation that stops existing stock being used to capacity, ie councils demanding minimum room sizes.

The laws are what dis advantages british renters in the same way it does for jobs. That is is so hard to get rid of bad people that the good ones aren't worth the risk either.

Your attitude is like that of an angry red shirt, full of hate and jealously; but at the same time wishing for it for yourself or family. It commendable to work hard to send your kid to a good school but I wonder if you'd treat her with the same sustain if she got a good white collar job and bought some BTL investments- would you advise her to charge under market value and fill them full of benefits layabouts? How would you feel when they all start not paying and she's face with loosing her house or can't afford the kids private school fees?

Your racist assertion that Asians aren't welcome to come study and have a place to live in England is a real double standard when you proclaim to travel the world Working in other countries. By your reasoning locals should be trained up and your the parasite stealing their jobs.

What are you going on about racist assertions? And comparing me to a red shirt are you insane?

I will educate you .... Property is expenses initially due to loose lending, but then propped up by QE and 0.5% interest rates, along with 20 billion in Housing Benefit and then any other scam such as First Buy that this commie govt. can come up with, if there was a shortage people would be on the streets.

I am highly skilled and fly in for several weeks at a time on a work visa that will expire, if a company could find a local to do what i do they would as i charge far too much.

I bet mummy and daddy gave you some money for a deposit on a small house as you really are coming across as not very bright, you are a good case in point that the socialism for the Asset class holders in Britain is wrong, as people like you would be on their backsides if it weren't for the fact other peoples money is being taken to prop up what would be a dreadful investment if it was not for the fact the game is rigged.

This comrade is why the pound is dying a death.

Edited February 7, 2013 by Thailand1977

[mccw]

1977- I'll try to debate with you despite the chip on your shoulder and clear hate for anyone who had slightly more advantage than yourself- still funny how you take this position yet send your kid to the poshest school you can afford.

So you say:

"" Property is expenses initially due to loose lending, but then propped up by QE and 0.5% interest rates, along with 20 billion in Housing Benefit and then any other scam such as First Buy .....,.""

No shit Sherlock. When most of the population is in debt naturally that's what the government policy will be. It's not going to change with out a total collapse and yeah housing prices would be a lot less with out any mortgage availability; But only the real elite would be able to acquire property in such a scenario with out any lending at all, this would be taking time back to 80-90 % housing owned by an asset holding elite/ bankers or funds because almost all properties would foreclosed and no normal people would have any money to buy them. Such a scenario everything changes and system needs rebuilding from the bottom up, we could talk all day long about how to do this but its completely pointless. The idea that jobs and wages would carry on the same and housing could just fall to a level that everyone can afford is plain wrong.

The point at hand is the current system and its future. There is definitely a shortage of accommodation. Simple supply and demand; you say I'm not too bright but if you don't understand this then there's really no hope for you. Look at towns up north where no body wants to live; just because people borrowed too much doesn't mean they can charge sky high rents for people when there's not the demand to meet it; they stay empty and the loans are defaulted on , houses repossessed etc and rents fall to a sustainable level. In the south east demand is high and rents are what they are from demand not because people must meet mortgage payments. Really bizarre assertion to make. You can see the shortage in that people are sharing rooms and living in shared houses without living rooms- a house that used to house 2 adults and two kids might now hold 8 adults. The benefits rats who screw themselves hard enough end up squaring or living in vans, tents and eventually on the streets, shelters etc.

Since you mention it; yes my parents did give me help with the seed capital for the first deposit. I've grown 1 house to be 5 in 4 years and done most of the work myself learning skills on the way with the help from friends, paid at mates rates, but skills given (should people not accept help from mates also or is it just parents in your book?). I worked through college and uni, dropped out to make my own biz in Thailand where I stayed for years all off my own back. The property I accepted help with seed capital yeah and why not? I'd do the same for my boys, would you not for your kid if you had the spare 10 or 20 grand? Family taking care their own like the asian social structure is a much better way than western tax and redistribution through benefits / state hand outs. We share profits and business grows to point where it can pay for my parents retirement, fathers 24hr home care, my kids school and our family life, everyone's a winner. This is the same kind of cash seed like an angle investor could provide based on a convincing pitch or I or anyone motivated could earn n save in a few years; its not impossible.

As it is we can expect more tax, less service and £ money loosing its value; neither your or my belly aching will change that. Only thing to do is make the best of the way things are and BTL property using mortgage leverage is one of the few, potentially high yield, reasonably low risk, investments available to the average citizen. We another members are trying to talk about the associated risks; if you have any thing useful to add its be most welcome, but discussing the morality of being a landlord in the real world any further is a pointless exercise.

Edited February 7, 2013 by mccw

[mccw]

To hedge the risk of currency/ western system collapse and subsequent no payment of rents / not being able to meet mortgage payments, I am holding physical PMs. Has any one else thought these risks are likely enough to keep cash in PMs aside not making any income? If so what % to total debt do think sufficient or do you calculate on number of payments / years needing to get through?

Cheers

[mccw]

The planning system has its advantages. The biggest money we ever made was through speculative purchase and planning applications. Turned a pice of garden worth maybe ten-15 grand in to a building plot sold at 450. On a smaller scale this is how I've added 70-150grand capital value to each place I've bought or turned over. It's all about imagination and market research.

[Thailand1977]

MCCW

I'm sure what your wrote above is economic and financial genius and i'd be hanging off your every word, but i really don't have the time.

Good luck evicting your lazy good for nothing English tenants, hope the Asians (i hope i didn't use that term in a racist way) give you that 5 pound a week extra, you deserve it for all your hard work and endeavor. I fear for the value of the pound when upstanding visionary entrepreneurs like yourself sail from these shores.

Bon Voyage.

PS I just glanced at your last paragraph, how did you get into University when you don't know the difference between loose and lose?

Edited February 7, 2013 by Thailand1977

[mccw]

Dyslexic and predictive text have nothing to do with intelligence.

My No english policy is more of a reaction to the unjust laws legalising thievery and fraud. From 12 at the start there are 2 who remain. The asians and most all of the foriengers since haven't messed about; maybe 100 or more people. I've put rents up a bit but the Utilities have risen more. I'll be turning all houses over to single contracts for student rental because the ratio has turned so now it will be about £100 a month per house better off this way. Less work too; so I can magage from Thai and instruct my staff (polish) what to do.

(I never squeeze more rent from existing tenants- the 2 English are on same rent as when they moved in. I just ask more on the next time the room is offered.)

Edited February 7, 2013 by mccw

[meatboy]

lets see what today brings,on bloomberg this morn.3.30am the gb.pound was

up 2cents against the euro,

up slightly against the usd,

up again against the hkd.

mind you we have the weekend coming up and you know what i think of rates fri-mon.

[mommysboy]

It looks to me as if UK and Thailand are on opposite sides of a big economic cycle. UK Govt. certainly talks the pound down and there are benefits to a low exchange rate providing you are not an expat . My guess is that UK economy is being rebalanced in favour of manufacturing. I expect weak sterling for 5 more years. Just hoping Baht weakens so the exchange rate will touch 50 at some point. I am pretty sure the needs of buy to let landlords are not paramount to the present administration and quite to the contrary as lower rents would be desirable in many ways.

[chiang mai]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who are dependent on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high mortgage repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite.

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you talk about wanting manufacturing but also want some of the highest property prices in the world tells me you're not the brightest star in the sky ... its not very joined up thinking is it.

If property was half the price as it would be if the market was free, i would have a spare 100K to buy British manufactured equipment for my job, thus i'd then be employing people and the economy would grow and so would the value of sterling... this will not happen and there must be millions like me who can't take the risk due to shelter prices being rigged.

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme, and its killing the country and the currency.

You wrote:

"The reason the pound has crashed is because we have a parasite middle class who are dependent on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling". My take on these things is slightly different:

I think the reason the Pound has crashed is two fold: firstly, banks over extended by virtue of fractional lending and much of this was low quality lending on property, globally. The second reason was because sucessive UK governments failed to save rather than spend and had no control or oversight management of the banks - I can argue that much of this responsibility is vested in the Labour government under Blair/Brown where the welfare state was developed to near perfection but I would rather we don't politicise the issue.

So can Joe and Jane consumer really be blamed for getting us into the mess we're in today, I don't think so, they never were particularly savvy financial managers in the first place and we all know this, goodness, it wasn't until the mid 1980's that we allowed them to buy stocks and shares - this has been worsened by virtue of an increasingly low quality educational system over the past fifteen years where degrees have been handed out at will yet the graduate is increasingly not fit for purpose.

And historically, Joe and Jane never had much sight of central government finances and when they did see it, they didn't care about it or didn't understand it. In all honesty it's only post 1990 that the general population has begun to understand what terms such as GDP and money supply really mean so we can excuse boomers to some degree for allowing this crisis to develop because they simply didn't understand. Today of course it's a very different story, the internet makes access to fianancial and economic data easy along with other peoples views of what is happening and what the cure might be, suddently today, everyone is an expert on these things!

So what's the way forward, let the banks fail and let Joe and Janes mortgage be called in, that would serve them right for being so greedy and getting their priorities wrong wouldn't it. And it would be great to see those banksters get their comeuppance, that'ld teach them. But of course in the process of all that, the inocent savers would lose their life savings, the numbers of homeless people would soar until their was real civil unrest, government would go into serious debt trying to cover insured savings losses, GDP would fall by many points and the country would turn into Mad Max territory pretty quickly. Hmm, probably best we don't let the banks fail after all, don't you agree?

Edited February 8, 2013 by chiang mai

[exeter]

I hope our two squabbling contributors had a good nights sleep and awake refreshed and calmer today. We all have our views od whats wrong and whats right and how we should deal with things, however, they are our individual positions and its other who make the real decisions that affect our lives, we just comment and have to live with them

The GBP seems to have strengethened today which we will all be happy about, WONT WE!!!

I also am not happy when racism is rolled out, racism is something that seems to bowled at white people and cannot be bowled back,so when refering to another country"s people lets just leave it at that, some comments are justified, the UK has taken in too many from all over the world, Thailand is what 4 times larger than the UK with roughly the same population? It cannot go on, does that me a racist?

Anyway, I think we have been strying off the thread a bit of late and there are always 2 or 3 threads about the exchange rate continually on the go are there not? Its an interesting subject that affects us all.

I think we would all settle for 50bts to the pound for 2 reasons. 1 its pretty good as things stands right now and 2 it makes it easy to work the conversion rate for us all

[meatboy]

lets see what today brings,on bloomberg this morn.3.30am the gb.pound was

up 2cents against the euro,

up slightly against the usd,

up again against the hkd.

mind you we have the weekend coming up and you know what i think of rates fri-mon.

just had a look at bkkb.rates not updated since 8.30 TT rate 46.50 up about 20 satang from yesterday,so this week seems flat,there was some good if you can call it that about manufactoring in the uk.but everything do do with the british economy you can take it with a pinch of salt as 2012 was olympic year as it was successful a lot of money was floating arround.

havnt had much time to look at things today as i spent all morning with my probation officers[immigration]

[Thailand1977]

I've had enough of england; its seriosly rotten at both ends. Its a shame every one in the middle has to suffer, but hey what can i do; I'm off to Thailand on Monday. 1977, you stay in England sunshine. That's where you'll be stuck for ever if you just moan about life rather than do something about it.

I choose to live in England so i can put my child in one of the best schools in the world, i travel the planet on a monthly basis and see plenty of sunshine. Why is it beyond your comprehension that not everyone wants to move to Thailand?

The reason the pound has crashed is because we have a parasite middle class who are dependent on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling.

High house prices = high mortgage repayments or rents = people needing to charge companies more for their services = company not being financially competitive in a global market = companies going elsewhere = job losses = less tax revenue/higher benefits revenue = more borrrowing = weak pound.

Lower property prices = the opposite.

These people get all the tax breaks, as opposed to people like myself who work in manufacturing who actually create wealth out of nothing more then what comes out the ground. Now ask yourself for the long term is it better to support people who charge high rents thus destabilising society or people like me who actually get off our <deleted> and make things?

The fact you talk about wanting manufacturing but also want some of the highest property prices in the world tells me you're not the brightest star in the sky ... its not very joined up thinking is it.

If property was half the price as it would be if the market was free, i would have a spare 100K to buy British manufactured equipment for my job, thus i'd then be employing people and the economy would grow and so would the value of sterling... this will not happen and there must be millions like me who can't take the risk due to shelter prices being rigged.

The fact you cannot see your investment is wholly backed by the taxpayer and that you are part of the new breed parasite class is not surprising.

Its a PONZI scheme, and its killing the country and the currency.

You wrote:

"The reason the pound has crashed is because we have a parasite middle class who are dependent on the government to keep the price of property inflated, as they're mortgaged upto the eyeballs in B2L debt and where they have MEWED for the 2nd BMW and 3 holidays a year. Thus the government has raised taxes on the productive workers and borrowed a trillion or so to stop the value of property falling". My take on these things is slightly different:

I think the reason the Pound has crashed is two fold: firstly, banks over extended by virtue of fractional lending and much of this was low quality lending on property, globally. The second reason was because sucessive UK governments failed to save rather than spend and had no control or oversight management of the banks - I can argue that much of this responsibility is vested in the Labour government under Blair/Brown where the welfare state was developed to near perfection but I would rather we don't politicise the issue.

So can Joe and Jane consumer really be blamed for getting us into the mess we're in today, I don't think so, they never were particularly savvy financial managers in the first place and we all know this, goodness, it wasn't until the mid 1980's that we allowed them to buy stocks and shares - this has been worsened by virtue of an increasingly low quality educational system over the past fifteen years where degrees have been handed out at will yet the graduate is increasingly not fit for purpose.

And historically, Joe and Jane never had much sight of central government finances and when they did see it, they didn't care about it or didn't understand it. In all honesty it's only post 1990 that the general population has begun to understand what terms such as GDP and money supply really mean so we can excuse boomers to some degree for allowing this crisis to develop because they simply didn't understand. Today of course it's a very different story, the internet makes access to fianancial and economic data easy along with other peoples views of what is happening and what the cure might be, suddently today, everyone is an expert on these things!

Thats pretty much bang on, the middle class i refer to are the ones on the public sector payroll getting unaffordable pensions from the age of 52, overpaid GP's who run run their practice as a limited company but also claim a full gold plated pension .... solicitors on the take, QANGOS, endless Councillors and local govt officials, B2L landlords getting 20 billion in housing benefit subsidies, an army of consultants, banks and their bailouts, property developers and the schemes the govt. comes up with to prop up their industry (first buy/shared equity) I could go on but you get my drift ... this is what costs the hundreds of billions not the few billion that the lazy toe rags get for being on the dole who seem to be the poster boy of why we're in this mess.

Anyway these 2 links illustrate perfectly why the British economy has no likelihood of getting on its feet in the mid term.

Im not a fan of state interference but the links below show the UK govt puts in the lowest amount of money of major nations for research and development amongst small and medium companies

http://www.telegraph...er-economy.html

Yet this link shows they've 80 billion pound of taxpayers money to hand over to banks to invest in business but instead continue with their one trick show of keeping the housing bubble inflated.

http://www.dailymail...lion-boost.html

Until the country thinks longer term then the next bonus then we don't stand a chance, and maybe i'm being pessimistic but i can only see it getting much much worse .... probably until there is a IMF bailout.

Edited February 8, 2013 by Thailand1977

[Thailand1977]

So what's the way forward, let the banks fail and let Joe and Janes mortgage be called in, that would serve them right for being so greedy and getting their priorities wrong wouldn't it. And it would be great to see those banksters get their comeuppance, that'ld teach them. But of course in the process of all that, the inocent savers would lose their life savings, the numbers of homeless people would soar until their was real civil unrest, government would go into serious debt trying to cover insured savings losses, GDP would fall by many points and the country would turn into Mad Max territory pretty quickly. Hmm, probably best we don't let the banks fail after all, don't you agree?

I did respond to this but the page crashed so i will be brief.

I'd say yes let the banks crash, especially now after 5 years of them giving out bonuses and having QE and 0.5% interest rates if they still can't stand on their own then let them go. Bailouts need to stop ... article above shows they have not.

I don't believe the Mad Max scenario, our infrastructure is in place no matter what happens to the banks. Iceland let its banks fail and they're doing OK now. Besides Britain has vast amounts of shale and coal aswell as oil ... they'd have to start getting this out of the ground thus creating private sector jobs and we'd start exporting again.

People were arrogant during the boom times thinking they were entrepreneurs by merely buying a house and MEWING so they could keep ahead of the Jones's, i want to some kind of responsible capitalism in this country ... on the regulation side but also the people must also take their share of the blame when things go wrong .... what we have now is socialism for risk taking asset owners.

Edited February 8, 2013 by Thailand1977