Us Dollar Vs Thai Baht

[watgate]

I realize that this topic has been discussed before but my question going forward is now that the US Dollar is below 29 baht to a US Dollar and seems to be losing more value each day, has anyones anxiety level been ratched up at all with the loss of value and subsequent purchasing power of the US Dollar?

[mogandave]

Not since I moved my savings to Thailand

[watgate]

mogandave- On the surface this sounds like a smart move. I wish I was more astute about speculating in foreign currencies. My concern is that their are much more knowledgeable and sophisticated currency speculators that have made fortunes speculating in foreign currencies. Also, are your holdings in Thailand insured? Can you go to bed at night knowing that your deposits in Thai baht held in Thai banks are fully insured? Thank you for any info because I am losing more and more confidence in the US Dollar and need to come up with an alternative plan before my savings becomes worthless due to the ravages of inflation, debasement of the US dollar, debt in the trillions of dollars and out of control printing of trillions of dollars by the Federal Reserve.

Edited April 9, 2013 by watgate

[Phronesis]

Google Fiat Currency and get back to me...

[iluvbeaches]

mogandave- On the surface this sounds like a smart move. I wish I was more astute about speculating in foreign currencies. My concern is that their are much more knowledgeable and sophisticated currency speculators that have made fortunes speculating in foreign currencies. Also, are your holdings in Thailand insured? Can you go to bed at night knowing that your deposits in Thai baht held in Thai banks are fully insured? Thank you for any info because I am losing more and more confidence in the US Dollar and need to come up with an alternative plan before my savings becomes worthless due to the ravages of inflation, debasement of the US dollar, debt in the trillions of dollars and out of control printing of trillions of dollars by the Federal Reserve.

Always a good plan to earn or hold money in the currency you live so you don't worry about exchange rates.

Major Thai banks are insured to depositors up to a certain amount by something like the fidc and ecb - I think 1 million.

[tyznd]

Unfortunately the goal of the US is to devalue the dollar and they have no limit as to how far they will go to do it. The printing presses are running rampant and countries around the world are looking to bypass the dollar in their intra trades which is going to lead to the US dollar eventually losing its status as the world's reserve currency.

The near $17 trillion deficit is going to continue to rise and once treasury rates get back to a more realistic number of say 5 or 6 percent, just the interest on this debt alone will be nearly 40% of all the revenues the US takes in each year.

All in all, I don't think it will be long before you look back at the good old days when you were getting a 29 baht exchange rate. The dollar is going to tank a lot more from where it currently is and the only question is just how low will it go. 20 - 15 - 10 baht to the $, who knows. I do know if US dollars is all you have in savings you are going to be in for a rough ride.

[jaideeguy]

Any suggestions as to what other currencies may be more stable than the $ and the THB??

[CharlieH]

Any suggestions as to what other currencies may be more stable than the $ and the THB??

Aussie dollar ?

[jaideeguy]

Yeah, I heard that 3 yrs ago when aus $ was @ .60 to 1US$ and hesitated.....still kicking myself for that one, but will the Aus $ hold it's value?? or is there still room to increase??

[Naam]

Any suggestions as to what other currencies may be more stable than the $ and the THB??

i find the Thai Baht quite stable

[tyznd]

Very hard to predict which way any one currency may go at any given time, however, if you look at the serious problems going on in certain specific areas and countries you can pretty well make an educated guess what the mid to long term prognosis is.

The Swiss franc has been a stellar currency for a long time now and I wish I had exchanged more USD and GBP into the franc when I was considering it some time ago. There are some that still recommend the Canadian and Australian dollar as good bets but I'm not so sure. Each country has its only potential problems and is reliant on outside forces for trade/revenue that can change quickly and have a major impact on their overall economy.and currency strength.

I do know Japan is in a world of hurt and I have no idea how they are going to get out of the mess they are in. They are in a print the currency mode to drive up inflation so that is not going to help the yen any. Nothing has been fixed in southern Europe so the euros fate is still to be decided. Quite possible that one or more countries may exit the euro in the not too distant future so who knows how that will play out and what happens to the euro currency - could go either way.

As far as the USA you can as the saying goes "put a fork in it", A number of people are saying get out of the US dollar (and US stocks/bonds) now before the next economic crisis hits which could be just around the corner. These are the same people who warned about the dot.com, US housing and 2008 financial crisis before they hit and they were right on the money. This time they are predicting the problem is going to be a lot larger and a lot more destructive than anything in the past, Basically a total meltdown of the entire US economy is what is at hand, though the mass media, government and average guy on the street aren't calling or seeing it materialize though it should be fairly clear by now.

The best advice I could give is to buy and store some gold along with getting out of the USD and prepare to ride out the storm when it hits as it surely will.

[Seizhin]

We're exporter receiving money in USD, and this is tough now. 28.90 yesterday, just 29.06 today.

Even though that's the rate TV said, every exported knows the actual rate we're receiving today is 28.0x something, which is horribly low.

Edited April 10, 2013 by Seizhin

[yoshiwara]

Very hard to predict which way any one currency may go at any given time, however, if you look at the serious problems going on in certain specific areas and countries you can pretty well make an educated guess what the mid to long term prognosis is.

The Swiss franc has been a stellar currency for a long time now and I wish I had exchanged more USD and GBP into the franc when I was considering it some time ago. There are some that still recommend the Canadian and Australian dollar as good bets but I'm not so sure. Each country has its only potential problems and is reliant on outside forces for trade/revenue that can change quickly and have a major impact on their overall economy.and currency strength.

I do know Japan is in a world of hurt and I have no idea how they are going to get out of the mess they are in. They are in a print the currency mode to drive up inflation so that is not going to help the yen any. Nothing has been fixed in southern Europe so the euros fate is still to be decided. Quite possible that one or more countries may exit the euro in the not too distant future so who knows how that will play out and what happens to the euro currency - could go either way.

As far as the USA you can as the saying goes "put a fork in it", A number of people are saying get out of the US dollar (and US stocks/bonds) now before the next economic crisis hits which could be just around the corner. These are the same people who warned about the dot.com, US housing and 2008 financial crisis before they hit and they were right on the money. This time they are predicting the problem is going to be a lot larger and a lot more destructive than anything in the past, Basically a total meltdown of the entire US economy is what is at hand, though the mass media, government and average guy on the street aren't calling or seeing it materialize though it should be fairly clear by now.

The best advice I could give is to buy and store some gold along with getting out of the USD and prepare to ride out the storm when it hits as it surely will.

The Swiss franc has not been stellar and gold has been crap as well.

[maxman71]

I've posted this before and will keep on posting it: The US Fed Reserve is printing money to the tune of $85 BILLION per month, and is committed to doing so until the official unemployment rate drops to 6.5%. The real story behind the unemployment rate in the US is those people who have given up looking for a job are NOT counted in these "official" figures. So take any drop in the unemployment rate with a large grain of salt. Just look at the number of people on foodstamps in the US; it is at record levels and growing.

The total amount of debt (public + private) is about $70 TRILLION and growing. There is no way this is sustainable.

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

The BRIC countries are already conducting trade between themselves in their own currencies. This is the canary in the coal mine and the canary has caught a bad cold.

The current administration of the Fraud in Chief, BO, has done NOTHING to end the corporatist and bankster corruption that liberal/socialists in the US criticized Bush for. In fact, BO's administration is chalk full of ex-WS banksters and ex-lobbyists. BO emphatically pledged in his campaigns for POTUS that he would end this practice.

BO has further recently stated that the US "does not have a debt problem".

The highly polarized state of affairs in the US pits the brain-dead, dumbed-down and brain-washed supporters who believe anything and everything from whatever BO pulls out of his arse. Then there are those of us who dig deeper into the facts and do our own homework. And no, most of us are NOT Republicans.

My conclusion is BO is determined to remake the US into a heavily controlled socialist state and confiscate as much wealth as possible and "spread it around." BO has enlarged the size of the federal government to unimaginable levels to make this happen.

[tyznd]

Short video with investor Kyle Bass sharing a conversation he had with a senior government official and the fate of the USD plus a good article containing info and other links to the growing move by countries to bypass the US dollar in their transactions.

http://www.zerohedge.com/news/2013-03-31/thanks-world-reserve-currency-no-thanks-australia-and-china-enable-direct-currency-c

[yoshiwara]

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

And that will not happen for the foreseeable future so relax.

[maxman71]

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

And that will not happen for the foreseeable future so relax.

Good luck with that...the time to prepare is BEFORE it happens. Exactly when that it, no one knows for sure obviously, but the writing is clearly on the wall.

[tyznd]

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

And that will not happen for the foreseeable future so relax.

You must be listenng to all the pundits who somehow missed the most recent bubbles and major economic events and who keep saying there may be a few more bumps in the road but all is well.

Unfortunately, if you were to do a little more research and see what's really going on I think you would have a much different view and perhaps be a little more worried especially if your income and funds are US based.

When the next economic collapse hits the US it won't be the banks and Wall Street that need bailing out, it will be the entire federal government. And exactly who is going to come to the rescue when that happens?

[Pib]

Comparing the debt between countries can be like comparing apples and oranges due to the size of each countries Gross Domestic Product (GDP), population size, socio-economic factors, etc. Also, the kind of the debt in each country....that is, government (sovereign) debt , household debt, non-financial institutions debt, financial institutions debt like banks, etc. Heck, a country can have a quite manageable sovereign debt but its banking debt be extremely high to where it severely damages the country like what we saw happen in Ireland and Cyprus.

Below is a cut and cut and paste of a chart of selected countries from this website. It's been sorted by total debt in relation to total GDP. At the web site you can sort if various ways.

In terms of total debt the U.S. is 9th on the list....very closely followed at #10 by Germany which of late seems to be talked about as a very fiscally minded country but their total debt as a percentage of GDP is only slight lower than the U.S.'s. I'm a little surprised the UK is so high on the list at #2 in total debt...I knew they had financial problems like many other countries but I didn't know their total debt as a percentage of GDP was almost as high as Japan's, with Japan being at #2 and Ireland at #1. Keep in mind the debt shown in the chart is based on a "percent of GDP."

[mania]

Using GDP when discussing a country's debt is a not a great indicator IMHO
Revenues vs Expenditures is the only clear picture
Because GDP includes government ( over ) spending. They have no money except what citizens give them

or they create out of nothing, creating more debt

So how can that be valid when discussing a country's debt health?

GDP = private consumption + gross investment + government spending + (exports − imports)

But at least your chart breaks it out into sections

Edited April 11, 2013 by mania

[tyznd]

What should have been known for some time now but what the incompetents/crooks just can't seem to spell out for John Q Public is the reason they can't agree on a budget to solve the current massive, increasing debt and perpetual deficits problem. And that is because the country has already, for all practical purposes, long passed the point of no return.

There are those that would like to think there is a mathematical way to get out of all this, but it would require things to happen such as huge tax increases and benefit cuts that are about as likely to occur as someone hitting the power ball lottery back to back. The die has been cast and all that is left now is when and how this is all going to play out. . .

http://www.youtube-nocookie.com/embed/EW5IdwltaAc?rel=0&utm_source=mortgagenewsclips+test+list&utm_campaign=f5614b9c50-RSS_EMAIL_CAMPAIGN&utm_medium=email

http://finance.yahoo.com/blogs/daily-ticker/u-totally-broke-federal-govt-fiscal-gap-222-135416602.html

[yoshiwara]

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

And that will not happen for the foreseeable future so relax.

You must be listenng to all the pundits who somehow missed the most recent bubbles and major economic events and who keep saying there may be a few more bumps in the road but all is well.

Unfortunately, if you were to do a little more research and see what's really going on I think you would have a much different view and perhaps be a little more worried especially if your income and funds are US based.

When the next economic collapse hits the US it won't be the banks and Wall Street that need bailing out, it will be the entire federal government. And exactly who is going to come to the rescue when that happens?

So far it is the woebegones who have lost serious money sitting on the sidelines and sliding down the gold teddy bear.

[Time Traveller]

Any suggestions as to what other currencies may be more stable than the $ and the THB??

i find the Thai Baht quite stable

Yes it is stable, 1 baht ten years ago is still equal to 1 baht today.

[Naam]

Any suggestions as to what other currencies may be more stable than the $ and the THB??

i find the Thai Baht quite stable

Yes it is stable, 1 baht ten years ago is still equal to 1 baht today.

even the Satangs did not change. more evidence that the Baht is stable.

[Naam]

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

And that will not happen for the foreseeable future so relax.

You must be listenng to all the pundits who somehow missed the most recent bubbles and major economic events and who keep saying there may be a few more bumps in the road but all is well.

Unfortunately, if you were to do a little more research and see what's really going on I think you would have a much different view and perhaps be a little more worried especially if your income and funds are US based.

When the next economic collapse hits the US it won't be the banks and Wall Street that need bailing out, it will be the entire federal government. And exactly who is going to come to the rescue when that happens?

if Vall Street needs a bail-out zen ze Tchermans, ze Bundesbank, Signore Draghi of ze EZB and Mrs Merkel viz a brigade of ze Tcherman kavallerie are standing by to help.

[mogandave]

You are insured B1M per bank, not per account, so investment is pretty limited. But with over 3% interest, an the fact that I can't see any way the dollar can get stronger, how bad can it be?

I think US equities are still okay, and as long as the dollar continues to head south, they should grow.

[mogandave]

Any suggestions as to what other currencies may be more stable than the $ and the THB??

i find the Thai Baht quite stable

Yes it is stable, 1 baht ten years ago is still equal to 1 baht today.

Yes, but a dollar bought 44 back then...

[tyznd]

You are insured B1M per bank, not per account, so investment is pretty limited. But with over 3% interest, an the fact that I can't see any way the dollar can get stronger, how bad can it be?

I think US equities are still okay, and as long as the dollar continues to head south, they should grow.

A number of people I follow who have proven accurate on their predictions in the past are not so bullish on the market going forward. Watch for a major market correction downward later on this year. There may be a little more room upwards but I wouldn't be a gambler at this point.

[yoshiwara]

You are insured B1M per bank, not per account, so investment is pretty limited. But with over 3% interest, an the fact that I can't see any way the dollar can get stronger, how bad can it be?

I think US equities are still okay, and as long as the dollar continues to head south, they should grow.

A number of people I follow who have proven accurate on their predictions in the past are not so bullish on the market going forward. Watch for a major market correction downward later on this year. There may be a little more room upwards but I wouldn't be a gambler at this point.

more crystal balls.

[Loptr]

The only reason why the US has been able to get away with this money printing thus far is because the US$ is still the world's reserve currency. When it ceases to be the world's reserve currency, that is when the house of cards collapses and takes the US economy with it.

And that will not happen for the foreseeable future so relax.

Not so fast. It is coming faster than we might expect.

http://www.zerohedge.com/news/2013-03-31/thanks-world-reserve-currency-no-thanks-australia-and-china-enable-direct-currency-c

http://alternativeeconomics.wordpress.com/2012/01/08/russia-and-iran-plan-to-dump-the-dollar/

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan