1 Pound + 44.99 Baht

[apetley]

Our final installment in Sept 2008 for our house build was transferred at 71bht to the pound. Very lucky to have built then as I know a couple of farangs whose wives have bought land but can't now afford to build on it!

The real question is : can you afford to sell it ? Let's hope that day never comes.

Funny you should say that as it's currently on the market but only because there's a chance to buy some fabulous land next to the River Kwai.

I'll only start to consider my options here in Thailand if the pound hits 30bht!

Let me guess - is there a bridge on this land next to River Kwai ?

LOL

[NoshowJones]

Will history repeat, Maybe.

Rather than being penalised for working and saving, Why not stop giving benefits to those who are not living or spending In the U.K More benefit cuts are needed, Why should we keep people that are not living In the UK?

Window tax, now bedroom tax What are you views on this?

Pensioners have contributed all their life to get a pension when they retire, they are entitled to live in any country they want without any government stealing their annual increases from them.

[Westaurel]

Catastrophical !

As CHF was at 33 more in June last year now it about 30.70.

Too bad because of strong baht but government doing nothing to stop the strong exportations good economic way but bad about tourism !

I wonder what will be the repercussions on the tourism on middle long term if this situation continue ?

Edited March 7, 2013 by Westaurel

[Naam]

Do you think we should be worried?

President Nixon ended the Bretton Woods agreement on 15th August 1971, which was a worldwide agreement to use the US dollar as the only world reserve currency. The exchange rates between foreign currencies and the US dollar were fixed at a low rate to stimulate economies worldwide. Moreover foreign holders could redeem their dollars for gold at a fixed rate of $ 35 per ounce.

Initially 75% of the US monetary base was backed by gold, while in 1971 that same ratio had reached a lamentable 18%.

President Nixon “concluded” it was better for the American citizens to give up the Agreement and to entirely cut the tie between the paper money and its gold backing, and the start of the US dollar as the world reserve currency backed by nothing but promises and trust.

The British Pound, as defined in 1560, originally represented one troy pound of sterling silver.

In order to finance the wars with both France and Scotland, Henry VIII reduced the precious metal content of the English coins, enabling him to mint more of them, increasing the nominal value in circulation but slowly eroding confidence in the coinage.

Paper banknotes were first issued in Britain shortly after the establishment of the Bank of England in 1694.

As of January 2009 it takes £82.50 to purchase that same troy pound of sterling silver bought for £1 four-hundred-and-fifty years ago – a loss of value equaling 98.8%. Shocking.

The median age for all existing “paper currencies” in circulation is only 38 to 39 years. That’s more than 41 and a half years ago.

I can only add that I am in the twilight years of my life so it is unlikely to have a huge effect on me.

It's the youngsters of today that I feel sorry for.

It was great to be alive in the boom days of the 60's, but they are now well over.

Time to pay for our pleasures methinks......

As of January 2009 it takes £82.50 to purchase that same troy pound of

sterling silver bought for £1 four-hundred-and-fifty years ago – a loss

of value equaling 98.8%.

that applies to those who's dummy ancestors did not invest their pounds with interest and to the ignorants who forget to mention that.

lets do a little math:

1 single Pound invested 450 years ago at a meager 3% would have grown to a compounded value of GB£ 598,069.- (US$ 897,104) today which would buy 30,935 troy ounces (2,578 troy pounds) of silver.

me velly solly to mutt for any inconvenience caused

[StreetCowboy]

Anyway, following laislica's logic, the correct exchange rate would be about 30 baht to the pound

SC

[Chopperboy]

How are you finding the 44.99, As you are living on this?

I live on the price of gold which has also not done too well either for quite a while. One theory is that gold has been deliberately kept low, through the leasing in the gold market, to prevent currencies from declining further.

[notmyself]

I live on the price of gold which has also not done too well either for quite a while.

One theory is that gold has been deliberately kept low, through the leasing in the gold market, to prevent currencies from declining further.

That would be my guess.

[MrWorldwide]

Catastrophical !

As CHF was at 33 more in June last year now it about 30.70.

Too bad because of strong baht but government doing nothing to stop the strong exportations good economic way but bad about tourism !

I wonder what will be the repercussions on the tourism on middle long term if this situation continue ?

This was debated extensively in the other thread (which has mysteriously sunk from view on the first page of TV), and the consensus was that Thailand will do just fine as long as tourists from Russia, China, India and Korea continue to support the Thai tourism sector as they have been over the last 5 years. I'd also be interested to know how many Swedes, Danes, Finns and Norwegians have cut back on their trips to Thailand - they seem to be the 'forgotten European tourists' on this board. Given that more Australians die in Thailand each year than any other overseas country, I'm going to assume that Australian tourists are still visiting Thailand.

[Ministry of Som Tam]

Negative interest rates would be bad news for savers,

44.66 Baht coming soon

But good news for people with a mortgage,the bank pays you to buy a house!

[Will1]

Negative interest rates would be bad news for savers,

44.66 Baht coming soon

But good news for people with a mortgage,the bank pays you to buy a house!

Only, Tracker mortgages

With no collar. Borrowers would receive interest on their mortgage.

[roamer]

The worst is probably over. I expect the £ to back near 50 baht later this year. You know the bottom is near when it's all over the press, and when people start asking questions like how low can it go. Of course, it can go a lot lower, but I doubt it will. UK isn't in too bad shape compared to other countries, and the fall in the £ has been overdone. Going to send half my Thai baht back to UK this week and early next week, then transfer back at a later date.

i don't share your optimism. The fate of the £ at present rests less with how the economy is doing and a lot more to do with UK interest rates. Given that this government seems determined to follow that course, that the BoE continues to insist that a weakened pound is good for the economy then the only direction sterling is headed is down. I say this hoping you're right and I'm wrong.

[meatboy]

The worst is probably over. I expect the £ to back near 50 baht later this year. You know the bottom is near when it's all over the press, and when people start asking questions like how low can it go. Of course, it can go a lot lower, but I doubt it will. UK isn't in too bad shape compared to other countries, and the fall in the £ has been overdone. Going to send half my Thai baht back to UK this week and early next week, then transfer back at a later date.

i don't share your optimism. The fate of the £ at present rests less with how the economy is doing and a lot more to do with UK interest rates. Given that this government seems determined to follow that course, that the BoE continues to insist that a weakened pound is good for the economy then the only direction sterling is headed is down. I say this hoping you're right and I'm wrong.

i agree with roamer the b.o.e.has once again refused to raise int.rates so its business as it was gbp.still going down

[Devlin]

make me laugh when i see you guy's crying at 45 bath

Canadian $$$ always bee around 30 bath and we never said anything about it bcz it's life

If you can't make a living in Thailand with that, go back to work or you can probably enjoy your retirement somewhere in Africa

Ps: if some of you are curious about my avatar it's a add of Aston Martin pre owned car....

" You know you're not the first, but do you really care ? "

If you're worried about the cost of baths, take a shower instead, they're cheaper....... Always happy to help :0)

[Keesters]

When I first came to Thailand ! Pound = 36 Baht

and the US$ at 21.something baht

but that is about 30 years ago.

[Will1]

make me laugh when i see you guy's crying at 45 bath

Canadian $$$ always bee around 30 bath and we never said anything about it bcz it's life

If you can't make a living in Thailand with that, go back to work or you can probably enjoy your retirement somewhere in Africa

Ps: if some of you are curious about my avatar it's a add of Aston Martin pre owned car....

" You know you're not the first, but do you really care ? "

If you're worried about the cost of baths, take a shower instead, they're cheaper....... Always happy to help :0)

12 minutes In a shower Is an equivalent to a bath.

[NeverSure]

make me laugh when i see you guy's crying at 45 bath

Canadian $$$ always bee around 30 bath and we never said anything about it bcz it's life

If you can't make a living in Thailand with that, go back to work or you can probably enjoy your retirement somewhere in Africa

Ps: if some of you are curious about my avatar it's a add of Aston Martin pre owned car....

" You know you're not the first, but do you really care ? "

If you're worried about the cost of baths, take a shower instead, they're cheaper....... Always happy to help :0)

12 minutes In a shower Is an equivalent to a bath.

So you can get almost 45 showers per pound?

[laislica]

make me laugh when i see you guy's crying at 45 bath

Canadian $$$ always bee around 30 bath and we never said anything about it bcz it's life

If you can't make a living in Thailand with that, go back to work or you can probably enjoy your retirement somewhere in Africa

Ps: if some of you are curious about my avatar it's a add of Aston Martin pre owned car....

" You know you're not the first, but do you really care ? "

If you're worried about the cost of baths, take a shower instead, they're cheaper....... Always happy to help :0)

12 minutes In a shower Is an equivalent to a bath.

Who could spend that long in a shower?

Our house no have hot water

Anyway only dirty people wash!

[laislica]

Do you think we should be worried?

President Nixon ended the Bretton Woods agreement on 15th August 1971, which was a worldwide agreement to use the US dollar as the only world reserve currency. The exchange rates between foreign currencies and the US dollar were fixed at a low rate to stimulate economies worldwide. Moreover foreign holders could redeem their dollars for gold at a fixed rate of $ 35 per ounce.

Initially 75% of the US monetary base was backed by gold, while in 1971 that same ratio had reached a lamentable 18%.

President Nixon “concluded” it was better for the American citizens to give up the Agreement and to entirely cut the tie between the paper money and its gold backing, and the start of the US dollar as the world reserve currency backed by nothing but promises and trust.

The British Pound, as defined in 1560, originally represented one troy pound of sterling silver.

In order to finance the wars with both France and Scotland, Henry VIII reduced the precious metal content of the English coins, enabling him to mint more of them, increasing the nominal value in circulation but slowly eroding confidence in the coinage.

Paper banknotes were first issued in Britain shortly after the establishment of the Bank of England in 1694.

As of January 2009 it takes £82.50 to purchase that same troy pound of sterling silver bought for £1 four-hundred-and-fifty years ago – a loss of value equaling 98.8%. Shocking.

The median age for all existing “paper currencies” in circulation is only 38 to 39 years. That’s more than 41 and a half years ago.

I can only add that I am in the twilight years of my life so it is unlikely to have a huge effect on me.

It's the youngsters of today that I feel sorry for.

It was great to be alive in the boom days of the 60's, but they are now well over.

Time to pay for our pleasures methinks......

>As of January 2009 it takes £82.50 to purchase that same troy pound of

sterling silver bought for £1 four-hundred-and-fifty years ago – a loss

of value equaling 98.8%.

that applies to those who's dummy ancestors did not invest their pounds with interest and to the ignorants who forget to mention that.

lets do a little math:

1 single Pound invested 450 years ago at a meager 3% would have grown to a compounded value of GB£ 598,069.- (US$ 897,104) today which would buy 30,935 troy ounces (2,578 troy pounds) of silver.

me velly solly to mutt for any inconvenience caused

I love it, I love it.

Someone just to come along, take my over simplified comment and simply it further.

Lets do some maths.....

Now there is interest rates and

cost of living rises and

tax on unearned profit and ......

Why, I remember when I could go to the corner shop with a shilling and come home with a loaf of bread, a big bag of sweets, fags, matches, a newspaper, a comic and still have change.

Can't do that today.

Too many CCTV cameras!

[laislica]

Do you think we should be worried?

President Nixon ended the Bretton Woods agreement on 15th August 1971, which was a worldwide agreement to use the US dollar as the only world reserve currency. The exchange rates between foreign currencies and the US dollar were fixed at a low rate to stimulate economies worldwide. Moreover foreign holders could redeem their dollars for gold at a fixed rate of $ 35 per ounce.

Initially 75% of the US monetary base was backed by gold, while in 1971 that same ratio had reached a lamentable 18%.

President Nixon “concluded” it was better for the American citizens to give up the Agreement and to entirely cut the tie between the paper money and its gold backing, and the start of the US dollar as the world reserve currency backed by nothing but promises and trust.

The British Pound, as defined in 1560, originally represented one troy pound of sterling silver.

In order to finance the wars with both France and Scotland, Henry VIII reduced the precious metal content of the English coins, enabling him to mint more of them, increasing the nominal value in circulation but slowly eroding confidence in the coinage.

Paper banknotes were first issued in Britain shortly after the establishment of the Bank of England in 1694.

As of January 2009 it takes £82.50 to purchase that same troy pound of sterling silver bought for £1 four-hundred-and-fifty years ago – a loss of value equaling 98.8%. Shocking.

The median age for all existing “paper currencies” in circulation is only 38 to 39 years. That’s more than 41 and a half years ago.

I can only add that I am in the twilight years of my life so it is unlikely to have a huge effect on me.

It's the youngsters of today that I feel sorry for.

It was great to be alive in the boom days of the 60's, but they are now well over.

Time to pay for our pleasures methinks......

>As of January 2009 it takes £82.50 to purchase that same troy pound of

sterling silver bought for £1 four-hundred-and-fifty years ago – a loss

of value equaling

98.8%.

that applies to those who's dummy ancestors did not invest their pounds with interest and to the ignorants who forget to mention that.

lets do a little math:

1 single Pound invested 450 years ago at a meager 3% would have grown to a compounded value of GB£ 598,069.- (US$ 897,104) today which would buy 30,935 troy ounces (2,578 troy pounds) of silver.

me velly solly to mutt for any inconvenience caused

I love it, I love it.

Someone just to come along, take my over simplified comment and simply it further.

Lets do some maths.....

Now there is interest rates and

cost of living rises and

tax on unearned profit and ......

Why, I remember when I could go to the corner shop with a shilling and come home with a loaf of bread, a big bag of sweets, fags, matches, a newspaper, a comic and still have change.

Can't do that today.

Too many CCTV cameras!

PS

You may enjoy this link

http://www.bankofengland.co.uk/publications/Pages/other/monetary/mpreadinglistf.aspx

[thaibeachlovers]

It was 45 to the quid when I first came to LOS, but worth twice as much. Certainly got a lot more bangs for the buck back then.

[thaibeachlovers]

Do you think we should be worried?

President Nixon ended the Bretton Woods agreement on 15th August 1971, which was a worldwide agreement to use the US dollar as the only world reserve currency. The exchange rates between foreign currencies and the US dollar were fixed at a low rate to stimulate economies worldwide. Moreover foreign holders could redeem their dollars for gold at a fixed rate of $ 35 per ounce.

Initially 75% of the US monetary base was backed by gold, while in 1971 that same ratio had reached a lamentable 18%.

President Nixon “concluded” it was better for the American citizens to give up the Agreement and to entirely cut the tie between the paper money and its gold backing, and the start of the US dollar as the world reserve currency backed by nothing but promises and trust.

The British Pound, as defined in 1560, originally represented one troy pound of sterling silver.

In order to finance the wars with both France and Scotland, Henry VIII reduced the precious metal content of the English coins, enabling him to mint more of them, increasing the nominal value in circulation but slowly eroding confidence in the coinage.

Paper banknotes were first issued in Britain shortly after the establishment of the Bank of England in 1694.

As of January 2009 it takes £82.50 to purchase that same troy pound of sterling silver bought for £1 four-hundred-and-fifty years ago – a loss of value equaling 98.8%. Shocking.

The median age for all existing “paper currencies” in circulation is only 38 to 39 years. That’s more than 41 and a half years ago.

I can only add that I am in the twilight years of my life so it is unlikely to have a huge effect on me.

It's the youngsters of today that I feel sorry for.

It was great to be alive in the boom days of the 60's, but they are now well over.

Time to pay for our pleasures methinks......

>As of January 2009 it takes £82.50 to purchase that same troy pound of

sterling silver bought for £1 four-hundred-and-fifty years ago – a loss

of value equaling 98.8%.<

/p>

that applies to those who's dummy ancestors did not invest their pounds with interest and to the ignorants who forget to mention that.

lets do a little math:

1 single Pound invested 450 years ago at a meager 3% would have grown to a compounded value of GB£ 598,069.- (US$ 897,104) today which would buy 30,935 troy ounces (2,578 troy pounds) of silver.

me velly solly to mutt for any inconvenience caused

I love it, I love it.

Someone just to come along, take my over simplified comment and simply it further.

Lets do some maths.....

Now there is interest rates and

cost of living rises and

tax on unearned profit and ......

Why, I remember when I could go to the corner shop with a shilling and come home with a loaf of bread, a big bag of sweets, fags, matches, a newspaper, a comic and still have change.

Can't do that today.

Too many CCTV cameras!

When I were a spoolboy, we got 2 shillings pocket money for a week, a penny bought 4 wine gums and I could go to the filums for 9p.

But try and tell them that nowadays- they just won't believe you.

[TommoPhysicist]

When I were a spoolboy, we got 2 shillings pocket money for a week, a penny bought 4 wine gums and I could go to the filums for 9p.

But try and tell them that nowadays- they just won't believe you.

It was actually 9d .... UK money was pounds shillings and pence, initials L.s.d. from the latin "librae, solidi, denarii"

Edited March 8, 2013 by TommoPhysicist

[jbrain]

It was 45 to the quid when I first came to LOS, but worth twice as much. Certainly got a lot more bangs for the buck back then.

With the bangs being the keyword ?

[LburtonL]

ok ok i wrote bath instead of baht

I'm glad you guys had a good laugh but at 37 years old and retired i'm the one laughing everyday

Edited March 8, 2013 by LburtonL

[breadbin]

Retired at 37?? Must have been in the SAS!

[Will1]

ok ok i wrote bath instead of baht

I'm glad you guys had a good laugh but at 37 years old and retired i'm the one laughing everyday

I never would have guessed, I thought you may be living In a bedroom, Riding around on a 125cc moped.

Away keep laughing

[marstons]

Negative interest rates would be bad news for savers,

44.66 Baht coming soon

...but good news,would say excellent news for shareholders.Once the UK goes truly right wing and gets the welfare bill down it will be a bit depressing

Its depressing already my friend.

Your not forgetting who the shareholders of the banks are now are you. Johnny Public.

In fact you could the UK Government have found a way for the public to rip off the public, now thats just sick.

I have been out the UK for 12 years and missed a lot, how many banks does the UK population own now as in share holders.

[marstons]

Some are gonna hate me for this, but since I get paid in Thai baht, the spending power for my upcoming month long vacation home to blighty is becoming more and more economical for me by the day. So right now, the plummeting pound suits me just fine. Moreso since I booked my round trip ticket back in December.

going back to blighty for a month you have my sympathies, hate no , pity yes.

[MrWorldwide]

ok ok i wrote bath instead of baht

I'm glad you guys had a good laugh but at 37 years old and retired i'm the one laughing everyday

While I would love to have your millions, I also know what a phenomenal hill that represents. I just cant see anyone genuinely 'retiring' at that age - even Richard Branson would have gone crazy just sitting on his island counting his interest each day. Even 55 is going to be a challenge for me - horses for courses, I guess.

[meatboy]

ok ok i wrote bath instead of baht

I'm glad you guys had a good laugh but at 37 years old and retired i'm the one laughing everyday

only 37 and do you plan to live in los long time?you will need plenty of baths and luck,so dont laugh out toooooooooooooooo loud.