MichaelPattaya Posted January 25, 2013 Share Posted January 25, 2013 The article is total rubbish; author please go back to college for Economics 101. "Gold should have been accumulated earlier when its prices were cheaper." Could have, would have, and should have. That's what markets are all about. UNCERTAINTY. Also, Greed+Fear combination. All post-1997 history is a proof that Thai Central Bank acted out of fear. Look ahead, not backwards. Gold is NOT a safehaven, huge (7-fold !!!!!) run-up and will be flat for another 20 years. Right now - hold on to it, climbs up to $1900+ an ounce - SELL IT FAST! Link to comment Share on other sites More sharing options...
tingtongtourist Posted January 25, 2013 Share Posted January 25, 2013 Better to start buying Aussie dollar Mr Somchai..i will sell my reserves for lets say...45 baht per AUS $1 But due to a recent shortage of supply i must make a limit of 10,000 baht worth for each customer 1 Link to comment Share on other sites More sharing options...
Suradit69 Posted January 25, 2013 Share Posted January 25, 2013 If the dollar, euro and yen were to crash it would not just be a Thai problem .... it would be global. And they should think themselves lucky they didn't have the economic genius of Gordon Brown costing the nation a fortune selling off gold when the price was rock bottom. Come to think of it Thailand must be swimming in gold only most of it is hanging around hi-so necks. Brown was the biggest liar and hypocrite that ever came out of the UK, just like all Labour politicians, Labour are bigger liars and crooks than all the political parties put together. When it comes to political disasters, economic and otherwise, I think the US still is the world leader thanks to the efforts of W. To be fair, he wasn't so much a liar and hypocrite, which would require some intelligence, but more of an unmitigated idiot: 1 Link to comment Share on other sites More sharing options...
how241 Posted January 25, 2013 Share Posted January 25, 2013 Good article except for the bit about the yuan, which is rubbish. The relatively large amount of privately held gold will serve the country well. +1 Link to comment Share on other sites More sharing options...
jpinx Posted January 25, 2013 Share Posted January 25, 2013 The article is total rubbish; author please go back to college for Economics 101. "Gold should have been accumulated earlier when its prices were cheaper." Could have, would have, and should have. That's what markets are all about. UNCERTAINTY. Also, Greed+Fear combination. All post-1997 history is a proof that Thai Central Bank acted out of fear. Look ahead, not backwards. Gold is NOT a safehaven, huge (7-fold !!!!!) run-up and will be flat for another 20 years. Right now - hold on to it, climbs up to $1900+ an ounce - SELL IT FAST! Sell it for what? You suggest that the shaky dollar is a better bet long term when the record shows otherwise? Better to buy into china Link to comment Share on other sites More sharing options...
Chopperboy Posted January 25, 2013 Share Posted January 25, 2013 It would be nice if the article was completely baseless, unfortunately its not the Dollars value is unsustainable in the long term. We need to look beyond the mainstream media for a truer picture of what's going on here... Link to comment Share on other sites More sharing options...
Naam Posted January 25, 2013 Share Posted January 25, 2013 Good article except for the bit about the yuan, which is rubbish. The relatively large amount of privately held gold will serve the country well. please elaborate why private gold holdings will serve the country well. Link to comment Share on other sites More sharing options...
Popular Post Chopperboy Posted January 25, 2013 Popular Post Share Posted January 25, 2013 (edited) If the dollar, euro and yen were to crash it would not just be a Thai problem .... it would be global. And they should think themselves lucky they didn't have the economic genius of Gordon Brown costing the nation a fortune selling off gold when the price was rock bottom. Come to think of it Thailand must be swimming in gold only most of it is hanging around hi-so necks. Brown was the biggest liar and hypocrite that ever came out of the UK, just like all Labour politicians, Labour are bigger liars and crooks than all the political parties put together. When it comes to political disasters, economic and otherwise, I think the US still is the world leader thanks to the efforts of W. To be fair, he wasn't so much a liar and hypocrite, which would require some intelligence, but more of an unmitigated idiot: Neither of them are idiots they were just following a New World Order (NWO) agenda - which they did very well. Both Blair & Bush are whats known as "functional psychopaths" these people have no qualms about lying, cheating, deceiving, creating false flag attacks or sanctioning wars. They have no remorse as they tend to look upon ordinary people (outside their group) as gullible and easily fooled, a bit like sheep. Edited January 25, 2013 by Chopperboy 3 Link to comment Share on other sites More sharing options...
davejones Posted January 25, 2013 Share Posted January 25, 2013 If what the author of this article said did come true, If the dollar, euro and yen were to crash it would not just be a Thai problem .... The result world wide would be so catastrophic, resulting in the collapse of all currencies, to think that the Yuan would be a safe haven, is the just the author's dream. It's not possible for all currencies to collapse, because they are traded against each other. e.g. if $US collapses compared to EURO, then EURO wil RISE compared to $US. They can't collapse against each other. Some currencies HAVE TO RISE if others collapse. 1 Link to comment Share on other sites More sharing options...
davejones Posted January 25, 2013 Share Posted January 25, 2013 Lots of IFs in this article. IF this happens, IF that happens, blah, blah, blah. And IF it doesn't happen, we'll all live happily ever after, But some currencies need to collapse, in order to get the respective countries back on track. US will either have to default or print stacks of money to survive. Either option will eventually collapse the dollar. The only question is when it will happen. But it needs to happen in order for everyone to move forward. But to have a huge sudden collapse so that we can start over, then to drag this out for the next few decades. 1 Link to comment Share on other sites More sharing options...
Naam Posted January 25, 2013 Share Posted January 25, 2013 If what the author of this article said did come true, If the dollar, euro and yen were to crash it would not just be a Thai problem .... The result world wide would be so catastrophic, resulting in the collapse of all currencies, to think that the Yuan would be a safe haven, is the just the author's dream. It's not possible for all currencies to collapse, because they are traded against each other. e.g. if $US collapses compared to EURO, then EURO wil RISE compared to $US. They can't collapse against each other. Some currencies HAVE TO RISE if others collapse. why spoil an interesting story with boring facts? Link to comment Share on other sites More sharing options...
NoshowJones Posted January 25, 2013 Share Posted January 25, 2013 If the dollar, euro and yen were to crash it would not just be a Thai problem .... it would be global. And they should think themselves lucky they didn't have the economic genius of Gordon Brown costing the nation a fortune selling off gold when the price was rock bottom. Come to think of it Thailand must be swimming in gold only most of it is hanging around hi-so necks. Brown was the biggest liar and hypocrite that ever came out of the UK, just like all Labour politicians, Labour are bigger liars and crooks than all the political parties put together. When it comes to political disasters, economic and otherwise, I think the US still is the world leader thanks to the efforts of W. To be fair, he wasn't so much a liar and hypocrite, which would require some intelligence, but more of an unmitigated idiot: Neither of them are idiots they were just following a New World Order (NWO) agenda - which they did very well. Both Blair & Bush are whats known as "functional psychopaths" these people have no qualms about lying, cheating, deceiving, creating false flag attacks or sanctioning wars. They have no remorse as they tend to look upon ordinary people (outside their group) as gullible and easily fooled, a bit like sheep. Excellent post Chopperboy. Link to comment Share on other sites More sharing options...
cloudhopper Posted January 25, 2013 Share Posted January 25, 2013 Good article except for the bit about the yuan, which is rubbish. The relatively large amount of privately held gold will serve the country well. please elaborate why private gold holdings will serve the country well. By "the country" I am referring to citizens in aggregate, not the government. All currencies can collapse against tangible goods and services. Link to comment Share on other sites More sharing options...
TheGhostWithin Posted January 25, 2013 Share Posted January 25, 2013 (edited) If what the author of this article said did come true, If the dollar, euro and yen were to crash it would not just be a Thai problem .... The result world wide would be so catastrophic, resulting in the collapse of all currencies, to think that the Yuan would be a safe haven, is the just the author's dream. The collapse of the Euro and the Dollar, as the worlds two largest consuming blocs would mean that global demand for imports would fall. Demand for Chinese goods would fall, meaning demand for the Yuan would fall vs other countries. The Yuan would weaken. China would react as it always has in implementing trade import taxes (more so than currently) and subsidise local businesses to protect struggling local industries, and tax foreign companies operating within China at a higher rate. The result would be China having a rapidly reduced role in world markets. Investing in countries of which their primary exports are items solely for essential living (e.g. coffee, milk, cheese, wheat) and then later on essential for the beginnings of growth (e.g. metals) is the best way to dodge the bullet. Some of these countries (e.g. NZ, Australia and South Africa) have some of the best interest return rates in the world, which is an added bonus. The current issues with the Thai Baht are domestically instigated by the broken political system of Thailand, and are unrelated to international issues currently being faced. The greed of a few is beginning to bring suffering to the masses. Edited January 25, 2013 by TheGhostWithin Link to comment Share on other sites More sharing options...
Berkshire Posted January 25, 2013 Share Posted January 25, 2013 I haven't read so much rubbish lately as far as it concerns Germany, they will never leave the Euro zone. I 100% agree with you ! How come he can write that Germany will leave the Eurozone ?? Some have said that this option may be the most palatable for all concerned: http://business.time.com/2012/04/12/why-germany-should-leave-the-eurozone/#ixzz1sAMid1hi Link to comment Share on other sites More sharing options...
TheGhostWithin Posted January 25, 2013 Share Posted January 25, 2013 I haven't read so much rubbish lately as far as it concerns Germany, they will never leave the Euro zone. I 100% agree with you ! How come he can write that Germany will leave the Eurozone ?? Some have said that this option may be the most palatable for all concerned: http://business.time.../#ixzz1sAMid1hi I agree on both parts - Germany should leave the Euro Zone, but Germany will not leave the Euro Zone. The debt and condition of the periphery nations are as we know very poor. The European monetary union functions as a single body. If one part of the body gets sick, people make a natural assumption that other parts of you may not be fully functional - even if the assumptions are completely crazy. Because of the periphery debt, the Euro remains lower than it would, should the Euro Periphery nations have no debt and current account surpluses. This cheaper Euro, makes German exports cheaper, which under laws of demand increases demand to the point at which price and supply meet. This increased German exporting, increases the value of the Euro (the old German currency was one of the highest in Europe, remember, whilst the Greek Drachma was one of the lowest in Europe) and makes importation, and also tourism more expensive. This is where countries such as Greece have fallen out. It also makes repatriation of funds less effective, as repatriating foreign funds against a stronger-than-before local currency means less local currency for your foreign exchange. Yes, Germany should leave the European Union, No Germany will not leave the European Union. Germany profits from the downfall of the periphery nations. And the Periphery nations agreed to let this happen by joining the European Union. Now they cannot escape under current rules - there is no process of exiting the EU. Link to comment Share on other sites More sharing options...
jpinx Posted January 25, 2013 Share Posted January 25, 2013 Germany was the first country to greak the euro rules. They have NO scruples and will happily profit from Greec's departure (and maybe others) before leaving the euro themselves. Link to comment Share on other sites More sharing options...
khunken Posted January 25, 2013 Share Posted January 25, 2013 I don't know how many times I've heard from 'experts', fund managers, financial advisors & self-appointed contrarians to buy gold for 'long-term safety'. The problems are - there is a limited supply, it doesn't pay interest & you have to buy a currency with it if you want to spend it. As for Germany leaving the Euro - absolute rubbish. If the Euro disintigrates - and there's no sign of that yet -, Germany will be the last to leave. Methinks the author has been reading too much into his tea leaves. Link to comment Share on other sites More sharing options...
bkk_mike Posted January 25, 2013 Share Posted January 25, 2013 There are factual errors in the article. The German government repatriated all it's gold from France (where it saw no point in storing the gold in France when France and Germany are both on the Euro), and some from the US (but left most of the gold it had there). And it didn't repatriate any from the UK. How can they not fact-check this stuff? Link to comment Share on other sites More sharing options...
cloudhopper Posted January 25, 2013 Share Posted January 25, 2013 Good article except for the bit about the yuan, which is rubbish. The relatively large amount of privately held gold will serve the country well. Poor you, you don't know anything about economy. This article is just rubbish. Saying that Germany is preparing to leave the Eurozone is the biggest one I heard since long time. Go on Wikipedia and you will know more about economy. Don't read and believe this article, it's only rubbish ! Well I know enough to have retired at age 43 and be posting from my yacht but thanks for the advice. Instead of wikipedia you might want to check out "Currency Wars" by James Rickards (from the library if you can't afford to buy a copy). Link to comment Share on other sites More sharing options...
HardenedSoul Posted January 25, 2013 Share Posted January 25, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. Link to comment Share on other sites More sharing options...
Bee1lsu Posted January 25, 2013 Share Posted January 25, 2013 Baht 1 Link to comment Share on other sites More sharing options...
Rancid Posted January 25, 2013 Share Posted January 25, 2013 Countries (and politicians looking for re-election) in the end will act in their own best interests, the Northern Euro idea has been floating around for while, also that it wouldn't include France which could have far bigger problems than they are letting on. Was also suggested that if a Euro collapse was likely then Germany leaving first would be in their best interest. Who really knows? The money printing is running hot, currencies are being debased, full time unemployment is drying up, private and government debt is rampant, fraud is rampant, bailouts for the criminals that caused most of the damage is rampant, interesting that so many here seem to think that is all perfectly fine, but hey the Central Banks (owned by the banksters) have our best interets at heart don't they? Saw the Goldman CEO just bought a new 33 million home, some seem to be doing OK. China is interesting if not too good to be true, good arguments both ways as to whether what they are doing is sutainable, lot of money leaving though. Also if this robot revolution does get going could see factories returning to West, not the jobs though in any great numbers. Gold is a hedge against money printing/currency debasement if it really gets out of control, a better hedge in inflation as opposed to deflation as ageneral rule but we do live in intersting times. Link to comment Share on other sites More sharing options...
Naam Posted January 25, 2013 Share Posted January 25, 2013 Good article except for the bit about the yuan, which is rubbish. The relatively large amount of privately held gold will serve the country well. Poor you, you don't know anything about economy. This article is just rubbish. Saying that Germany is preparing to leave the Eurozone is the biggest one I heard since long time.Go on Wikipedia and you will know more about economy. Don't read and believe this article, it's only rubbish ! Well I know enough to have retired at age 43 and be posting from my yacht but thanks for the advice. Instead of wikipedia you might want to check out "Currency Wars" by James Rickards (from the library if you can't afford to buy a copy). only full-fledged clowns (like James Rickards) are making statements like "gold prices will rise the most in currencies that are weakening the most.http://finance.yahoo...-170006263.html " Link to comment Share on other sites More sharing options...
tingtongtourist Posted January 25, 2013 Share Posted January 25, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. and if no-one else can afford to buy the gold? Link to comment Share on other sites More sharing options...
cloudhopper Posted January 25, 2013 Share Posted January 25, 2013 only full-fledged clowns (like James Rickards) are making statements like "gold prices will rise the most in currencies that are weakening the most. http://finance.yahoo...-170006263.html" Try debating his statement instead of calling him names. Link to comment Share on other sites More sharing options...
HardenedSoul Posted January 25, 2013 Share Posted January 25, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. and if no-one else can afford to buy the gold? No problem. Exchange it for goods and services. Link to comment Share on other sites More sharing options...
yoshiwara Posted January 25, 2013 Share Posted January 25, 2013 I haven't read so much rubbish lately as far as it concerns Germany, they will never leave the Euro zone. Why then did Germany call back it's gold? Rumours are The Netherlands are planning the same. Maybe we will see the NEURO (Northern Euro) But my bet? Byebye Euro. Only a small bit. Why don't you read their public statement before asking the question? Link to comment Share on other sites More sharing options...
yoshiwara Posted January 25, 2013 Share Posted January 25, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. Meanwhile earning nothing and doing nothing. Better hope its not similar to the 25 years between 1980 and 2005. Link to comment Share on other sites More sharing options...
midas Posted January 25, 2013 Share Posted January 25, 2013 only full-fledged clowns (like James Rickards) are making statements like "gold prices will rise the most in currencies that are weakening the most. http://finance.yahoo...-170006263.html" Try debating his statement instead of calling him names. he called me a clown yesterday.... i am proud to be in the same company as Jim Rickards Link to comment Share on other sites More sharing options...
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