March 6, 201313 yr Author 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? Anyone? If such a policy is imposed a lot of UK farangs will be forced to return to UK. I can't foresee any negative effect on Thailand for this. Probably will increase numbers in poverty in UK who might be eligible for more benefits. Be careful what you wish for. I disagree, Many would not want to come back. Almost 50,000 children living abroad are receiving benefits claimed by immigrant families based in Britain, figures have revealed. Just under 30,000 families are claiming child benefits and tax credit for offspring who live outside the country but within the EU, as well as Iceland, Liechtenstein and Norway. Poland is home to the highest number of children in the region who are receiving benefits claimed in Britain with more than half the total – 25,659 – receiving welfare. taxpayers are losing out to the tune of nearly £40 million because EU nationals are claiming Child Benefit for children living abroad. Edited March 6, 201313 yr by Will1
March 6, 201313 yr 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? Anyone? If such a policy is imposed a lot of UK farangs will be forced to return to UK. I can't foresee any negative effect on Thailand for this. Probably will increase numbers in poverty in UK who might be eligible for more benefits. Be careful what you wish for. I disagree, Many would not want to come back. Almost 50,000 children living abroad are receiving benefits claimed by immigrant families based in Britain, figures have revealed. Just under 30,000 families are claiming child benefits and tax credit for offspring who live outside the country but within the EU, as well as Iceland, Liechtenstein and Norway. Poland is home to the highest number of children in the region who are receiving benefits claimed in Britain with more than half the total – 25,659 – receiving welfare. taxpayers are losing out to the tune of nearly £40 million because EU nationals are claiming Child Benefit for children living abroad. Off topic perhaps?
March 6, 201313 yr Author nationals are claiming Child Benefit for children living abroad.Off topic perhaps? Read back though this thread, What lead to this discussion? How are you finding the 44.99, As you are living on this?
March 6, 201313 yr 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 TBH. Still, the projected outlay for Q1 (2013) is lower than both Q4 (2012) and Q1 (2012) so I'm doing fine thank you. It will certainly be lower than Q1 (2012) but I could lose out on Q4 (2012) because I increased my liquidity just before the US elections in case Romney won. Some fella going around town with a 4T credit card that has to be maxed out in 4 years was going to send the stocks wild! However, it didn't happen so I took a hit. All in all things are very good and if the GBP-THB does hit 35 then it will hit those on my Will rather than me.
March 6, 201313 yr Author ...Off topic perhaps? Xenophobic, definitely Xenophobia is a dislike or fear of people from other countries or of that which is perceived to be foreign or strange. Wrong I married one, Cowboy
March 6, 201313 yr Exeter, I didn't pick BA because it was the cheapest - I picked it simply because it was British Airways. The argument made by one wag earlier was that I wouldnt see a queue out at Swampy because 'many Brits wouldnt be able to afford a ticket home based on the current exchange rate !'. By nominating a higher figure than you might pay to fly with another carrier, I believe I've covered the bases. I've made it public in several threads that the day my net worth is less than 10K baht cash, the exit bag comes out of the bottom drawer and its Adios, Amigos (the money is for a last meal and a bottle of Mehkong - the rest will be left for the unfortunate person who finds my carcass). No calls to the Consulate, no hanging around Patts or BKK panhandling - go out with my boots on. I know that prospect rankles many here, but nowhere near as much as the sight of destitute Farang rankles me. Fly home and rejoin the nanny state ? No thanks, but that's a personal decision. Till then, live every day as thought it WAS your last ! What would 220 pounds buy you in London in 2013 ? . 10,000.00 THB = 224.146 GBP
March 6, 201313 yr Personally, I think we will see the Thai baht reach around THB35 : £1 and at that point, we will either see the pound strengthen and the Thai economy weaken. As far as the UK economy is going, theres not that much bad news around at the moment. Europe is getting its house in some sort of new order. America has just seen the Dow Jones reach record levels. Reposessions are the lowest since 2008 Interest rates are at historic lows Inflation is around 2.5% and falling Perhaps in 3 years time, we will be back to an economic state of around 2002 in the UK. I agree with your guess of GBP bottoming at THB 35. However, I don't see good news for UK economy. It will take more than 3 years. The UK oil bubble has burst and oil imports will increase every year as production declines and more oil needs to be imported. The oil bubble from around 1985 to 2005 forced up GBP and caused a lot of manufacturing to die off due to high GBP rendering them uncompetitive. My guess. 20 years to improve UK economy and get GBP back up to 40-45 to THB. GBP will never get back to 70 THB. Will be interesting to keep this thread in 10 years time If the exchange rate goes 35, then I will 'try' and sell my real estate which I purchased at 68
March 7, 201313 yr Author Personally, I think we will see the Thai baht reach around THB35 : £1 and at that point, we will either see the pound strengthen and the Thai economy weaken. As far as the UK economy is going, theres not that much bad news around at the moment. Europe is getting its house in some sort of new order. America has just seen the Dow Jones reach record levels. Reposessions are the lowest since 2008 Interest rates are at historic lows Inflation is around 2.5% and falling Perhaps in 3 years time, we will be back to an economic state of around 2002 in the UK. I agree with your guess of GBP bottoming at THB 35. However, I don't see good news for UK economy. It will take more than 3 years. The UK oil bubble has burst and oil imports will increase every year as production declines and more oil needs to be imported. The oil bubble from around 1985 to 2005 forced up GBP and caused a lot of manufacturing to die off due to high GBP rendering them uncompetitive. My guess. 20 years to improve UK economy and get GBP back up to 40-45 to THB. GBP will never get back to 70 THB. Will be interesting to keep this thread in 10 years time If the exchange rate goes 35, then I will 'try' and sell my real estate which I purchased at 68 I also bought at 66, And enjoying having rent In Thai baht cashed In pounds
March 7, 201313 yr 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!
March 7, 201313 yr Personally, I think we will see the Thai baht reach around THB35 : £1 and at that point, we will either see the pound strengthen and the Thai economy weaken. As far as the UK economy is going, theres not that much bad news around at the moment. Europe is getting its house in some sort of new order. America has just seen the Dow Jones reach record levels. Reposessions are the lowest since 2008 Interest rates are at historic lows Inflation is around 2.5% and falling Perhaps in 3 years time, we will be back to an economic state of around 2002 in the UK. I agree with your guess of GBP bottoming at THB 35. However, I don't see good news for UK economy. It will take more than 3 years. The UK oil bubble has burst and oil imports will increase every year as production declines and more oil needs to be imported. The oil bubble from around 1985 to 2005 forced up GBP and caused a lot of manufacturing to die off due to high GBP rendering them uncompetitive. My guess. 20 years to improve UK economy and get GBP back up to 40-45 to THB. GBP will never get back to 70 THB. Will be interesting to keep this thread in 10 years time If the exchange rate goes 35, then I will 'try' and sell my real estate which I purchased at 68 I also bought at 66, And enjoying having rent In Thai baht cashed In pounds lets see what the "never buy but rent " brigade has to say about that now
March 7, 201313 yr 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.
March 7, 201313 yr I agree with your guess of GBP bottoming at THB 35. However, I don't see good news for UK economy. It will take more than 3 years. The UK oil bubble has burst and oil imports will increase every year as production declines and more oil needs to be imported. The oil bubble from around 1985 to 2005 forced up GBP and caused a lot of manufacturing to die off due to high GBP rendering them uncompetitive. My guess. 20 years to improve UK economy and get GBP back up to 40-45 to THB. GBP will never get back to 70 THB. Will be interesting to keep this thread in 10 years time If the exchange rate goes 35, then I will 'try' and sell my real estate which I purchased at 68 I also bought at 66, And enjoying having rent In Thai baht cashed In pounds lets see what the "never buy but rent " brigade has to say about that now If you spent all you money on a property, but no longer have enough money to live ..... it's not good. Selling can take years. That's if your wife doesn't just dump you (no money) and keep the house (her house). But the 1M bht you spent on the house, could have lasted as your living expenses for two or three more years. Running out of money in Thailand is no fun, house or not, you will still be going home with nothing. Edited March 7, 201313 yr by TommoPhysicist
March 7, 201313 yr Tommo - great news. matey - I've just drawn up a budget that should see me burn through that first million baht a whole lot faster than '2 or 3 years'. I'm still working on some of the details, but I have to say that right now I'm pretty damned excited by the possibilities. There is definitely a novel in there, and possibly film rights to follow. Don't touch that dial !
March 7, 201313 yr When I first came to Thailand ! Pound = 36 Baht Yep, in and around 1984-85 same as me. In 1988 it was 44 Baht to the pound. Ten years on:- In late 1997-8 it was over 90 Baht to the pound due to the ThaiTanic in the Baht. So we are back to the 1988 rate then. Win Oh I remember well those few days at 90. But then it stayed 70-65 for a long time. Happy Days
March 7, 201313 yr ...Off topic perhaps? Xenophobic, definitely Lord Lucan, living as recluse is Koh Chang perhaps, who would have thought of looking for him there?
March 7, 201313 yr 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. I thnk trying to sell property in Thailand is not easy, everyone wants a brand new build not your house/condo etc, thats my experience anyway
March 7, 201313 yr Looking at todays exchange rates the GBP is down against the $ and againts the baht its sliding uncomfortably toward 43+. Just thought we shoudl get back on topic.
March 7, 201313 yr I thnk trying to sell property in Thailand is not easy, everyone wants a brand new build not your house/condo etc, thats my experience anywayI find that is very true about Houses but not about Condo's Maybe because so many new housing developments but also because foreigners can own condos & their availability is more limited. ( due to affordable units & also the 49% of each building rule ) Edited March 7, 201313 yr by mania
March 7, 201313 yr ...Off topic perhaps?Xenophobic, definitelyLord Lucan, living as recluse is Koh Chang perhaps, who would have thought of looking for him there? A mere passing resemblance. A mere uncanny passing resemblance. I should've kept the stetson on...
March 7, 201313 yr 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!
March 7, 201313 yr Popular Post 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 ?
March 7, 201313 yr Popular Post When I first came to Thailand ! Pound = 36 Baht Yep, in and around 1984-85 same as me.In 1988 it was 44 Baht to the pound.Ten years on:-In late 1997-8 it was over 90 Baht to the pound due to the ThaiTanic in the Baht.So we are back to the 1988 rate then. Win Here's some historical data trawled from the internet. The THB is the last column. Full credit to originator.AS THESE SEEM TO BE YEARLY AVERAGES THOSE HEADY DAYS AT 90 BAHT DON'T SHOW! PACIFIC Exchange Rate Service http://fx.sauder.ubc.ca Foreign Currency Units per 1 British Pound, 1948-2011 Hong Kong Indian Indonesian New Zealand Pakistani Philippines Singapore Thai Dollars Rupees Rupiah Dollars Rupees Pesos Dollars BahtYear HKD INR IDR NZD PKR PHP SGD THB1948 15.9999 13.333 2.2997 13.3333 8.0600 8.5714 80.8021949 16.4021 13.669 2.0506 12.3160 7.4450 8.7869 80.4771950 16.0000 13.333 2.0000 9.2639 5.6000 8.5714 62.5491951 16.0000 13.333 2.0000 9.2639 5.6000 8.5714 60.3571952 16.0000 13.333 2.0000 9.2639 5.6000 8.5714 52.8471953 16.0000 13.333 2.0000 9.2639 5.6000 8.5714 51.0391954 16.0000 13.333 2.0000 9.2639 5.6000 8.5714 59.1731955 16.0000 13.333 2.0000 10.9595 5.6000 8.5714 60.5841956 16.0000 13.333 2.0000 13.3333 5.6000 8.5714 58.1841957 16.0000 13.333 2.0000 13.3333 5.6000 8.5714 58.1001958 16.0000 13.333 2.0000 13.3333 5.6000 8.5714 58.7771959 16.0000 13.333 2.0000 13.3333 5.6000 8.5714 59.2761960 16.0000 13.333 2.0000 13.3333 5.6420 8.5714 59.3091961 16.0000 13.333 2.0034 13.3333 5.6560 8.5714 58.9631962 16.0000 13.333 2.0137 13.3333 10.4380 8.5714 58.4641963 16.0000 13.333 2.0137 13.3333 10.9492 8.5714 58.3241964 16.0000 13.333 2.0137 13.3333 10.9480 8.5714 58.2401965 16.0000 13.333 658.05 2.0137 13.3333 10.9457 8.5714 58.2401966 16.0000 17.806 658.05 2.0137 13.3333 10.9200 8.5714 58.2401967 15.8606 20.712 413.10 2.0261 13.1507 10.7704 8.4540 57.4421968 14.5454 18.000 711.10 2.1429 11.4286 9.3600 7.3469 49.9201969 14.5454 18.000 782.40 2.1429 11.4286 9.3600 7.3469 49.9201970 14.5454 18.000 870.80 2.1429 11.4286 14.1704 7.3469 49.9201971 14.5537 18.232 953.65 2.1430 11.5884 15.6520 7.4241 50.6181972 14.0898 18.968 1036.49 2.0897 21.6823 16.6708 7.0244 51.9491973 12.6087 18.968 1016.73 1.8052 24.4854 16.5526 6.0204 50.2031974 11.7627 18.940 970.18 1.6725 23.1440 15.8686 5.6969 47.6331975 10.9175 18.529 918.06 1.8412 21.9007 16.0337 5.2458 45.0831976 8.8134 16.101 745.72 1.8057 17.7894 13.3695 4.4399 36.6571977 8.1323 15.243 723.91 1.7972 17.2693 12.9133 4.2552 35.5851978 8.9811 15.710 847.63 1.8493 18.9835 14.1240 4.3605 38.9951979 10.5948 17.209 1319.53 2.0723 20.9665 15.6244 4.6054 43.2441980 11.5643 18.273 1457.13 2.3860 23.0075 17.4565 4.9761 47.5871981 11.2317 17.399 1269.50 2.3165 19.8939 15.8742 4.2454 43.8481982 10.6035 16.517 1155.43 2.3279 20.6962 14.9184 3.7384 40.1791983 11.0124 15.308 1378.25 2.2688 19.8825 16.8444 3.2029 34.8631984 10.3989 15.114 1364.63 2.3463 18.6834 22.2114 2.8373 31.4431985 9.9978 15.873 1425.20 2.5966 20.4408 23.8786 2.8234 34.8531986 11.4385 18.486 1880.04 2.8044 24.4028 29.8824 3.1918 38.5501987 12.7438 21.181 2686.35 2.7692 28.4328 33.6114 3.4416 42.0361988 13.8855 24.756 2998.56 2.7152 32.0247 37.5237 3.5797 44.9931989 12.7622 26.548 2896.17 2.7360 33.6100 35.5655 3.1910 42.0541990 13.8318 31.080 3272.17 2.9763 38.5445 43.1667 3.2184 45.4311991 13.7054 40.109 3439.63 3.0573 41.9756 48.4619 3.0467 45.0021992 13.5854 45.488 3562.68 3.2676 44.0224 44.7765 2.8590 44.5791993 11.6018 45.734 3130.23 2.7754 42.1551 40.6742 2.4234 37.9741994 11.8275 48.014 3306.80 2.5810 46.7789 40.4287 2.3376 38.4891995 12.2080 51.174 3548.56 2.4049 49.9358 40.5804 2.2368 39.3191996 12.0667 55.282 3654.37 2.2698 56.2887 40.9014 2.1999 39.5391997 12.6746 59.449 4762.95 2.4760 67.3037 48.2465 2.4308 51.3471998 12.8271 68.330 16583.64 3.0940 74.6024 67.7234 2.7717 68.4961999 12.5514 69.663 12709.43 3.0573 80.0908 63.2450 2.7424 61.1822000 11.7882 67.997 12742.30 3.3304 81.1707 66.8636 2.6084 60.6902001 11.2268 67.928 14771.22 3.4244 89.1481 73.4071 2.5793 63.9632002 11.6886 72.855 13955.14 3.2406 89.5110 77.3409 2.6836 64.3862003 12.7136 76.058 14004.12 2.8117 94.2933 88.4992 2.8445 67.7332004 14.2590 82.970 16366.12 2.7622 106.6643 102.6034 3.0946 73.6432005 14.1407 80.182 17645.05 2.5823 108.2086 100.1558 3.0262 73.1282006 14.2926 83.364 16852.88 2.8373 110.8974 94.4168 2.9236 69.7022007 15.6100 82.735 18290.34 2.7226 121.5324 92.3389 3.0156 69.0682008 14.3149 79.978 17830.08 2.6155 129.4346 81.4817 2.6010 61.2422009 12.0759 75.407 16185.69 2.4928 127.2947 74.2768 2.2659 53.4112010 12.0047 70.654 14046.24 2.1438 131.6387 69.7020 2.1069 48.9602011 12.4715 74.776 14052.00 2.0281 138.3396 69.3963 2.0152 48.854 © 2012 by Prof. Werner Antweiler, University of British Columbia. All rights reserved. Sources: IMF, World Bank, OECD, Own. Edited March 7, 201313 yr by easyride
March 7, 201313 yr So if you came here in 1949 when the Pound was 80 baht, you could be whining for the next 64 years. Good thing the Internet was not around back then.
March 7, 201313 yr 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. Same story here, getting richer by the day
March 7, 201313 yr 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.
March 7, 201313 yr OK,clever boys. So which country do I retire to now? Read the Cambo thread - I doubt you will be any better informed at the end than you were at the beginning, but it will give a very good idea of what I'm saying when I tell you that this is the last group you should be asking that question. Just get on a plane and spend a month in country - nothing wrong with forumers swapping stories about their own experience in Cambo, but its a poor substitute for going there yourself.
March 7, 201313 yr 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......
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