Us Dollar Vs Thai Baht

[chiang mai]

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.

The FDIC equivelent in Thailand, the Thai bank insurance scheme, covers personal accounts up to THB 50 mill, the scheme was going to be slimmed down but the higher amount was left in place.

http://www.thaivisa.com/forum/topic/489743-deposit-protection-act-comes-into-effect-today/

Edited April 11, 2013 by chiang mai

[mccw]

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.

The FDIC equivelent in Thailand, the Thai bank insurance scheme, covers personal accounts up to THB 50 mill, the scheme was going to be slimmed down but the higher amount was left in place.

http://www.thaivisa.com/forum/topic/489743-deposit-protection-act-comes-into-effect-today/

My Thai banking grape vines tel me that policy is 1mil and they just aren't planning on formally announcing it. Be careful your cash they said. Buy gold or land is better they said.

[chiang mai]

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.

The FDIC equivelent in Thailand, the Thai bank insurance scheme, covers personal accounts up to THB 50 mill, the scheme was going to be slimmed down but the higher amount was left in place.

http://www.thaivisa.com/forum/topic/489743-deposit-protection-act-comes-into-effect-today/

My Thai banking grape vines tel me that policy is 1mil and they just aren't planning on formally announcing it. Be careful your cash they said. Buy gold or land is better they said.

People will either believe the anouncement made by the BOT or they will not, personally I do.

[muchogra]

In countries of residence, put money in each so you can live. That's what I do!

[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.

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

crank websites ahoy!

[mccw]

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.

The FDIC equivelent in Thailand, the Thai bank insurance scheme, covers personal accounts up to THB 50 mill, the scheme was going to be slimmed down but the higher amount was left in place.

http://www.thaivisa.com/forum/topic/489743-deposit-protection-act-comes-into-effect-today/

My Thai banking grape vines tel me that policy is 1mil and they just aren't planning on formally announcing it. Be careful your cash they said. Buy gold or land is better they said.

People will either believe the anouncement made by the BOT or they will not, personally I do.

Personally; as a foreigner I wouldn't count on seeing even the 1million.

£50,000 is insured amount in UK now but I don't trust that either.

I view all the banks as a risky place and only keep the minimum biz operating funds in it. A bit of savings in Thailand but not much.

After Cyprus, and the revelations that UK already passed laws to allow similar confiscation, its really high risk to leave money on the bank. More so than PMs, property or even shares (if your holding physical certificates rather than through a bank/ nominee)

[chiang mai]

Personally; as a foreigner I wouldn't count on seeing even the 1million.

£50,000 is insured amount in UK now but I don't trust that either.

I view all the banks as a risky place and only keep the minimum biz operating funds in it. A bit of savings in Thailand but not much.

After Cyprus, and the revelations that UK already passed laws to allow similar confiscation, its really high risk to leave money on the bank. More so than PMs, property or even shares (if your holding physical certificates rather than through a bank/ nominee)

The UK limit is circa £85,000 now, EURO 100k as I recall.

Also, the Thai bank account insurance system differentiates between resident and non-resident accounts. not between Thais and foriegners!

[mania]

Personally; as a foreigner I wouldn't count on seeing even the 1million.

£50,000 is insured amount in UK now but I don't trust that either.

+1

I always felt even the USA FDIC raised their 100k limit to 250k

during the crisis just as an insurance policy against bank runs.

They probably definitely could not even cover the 100k in a true bank run.

So why not increase the promise that could not be kept anyway?

Now imagine a true collapse in Thailand Banking

First step is repay all the foreigners? I think not.

Getting a simple certificate of residence or 90 day report is a monumental task these

days.

Imagine what trying to get back a million baht would entail much less 50 million as a foreigner

or even a non-connected Thai

All we can do is spread it around & hope for the best.

Edited April 12, 2013 by mania

[chiang mai]

One more time, it's about resident and non-resident accounts, not foriegners vs Thai's.

[mania]

One more time, it's about resident and non-resident accounts, not foriegners vs Thai's.

Which is why I said....

""Imagine what trying to get back a million baht would entail much less 50 million as a foreigner

or even a non-connected Thai ""

Yes they would be equally <deleted>

[mccw]

One more time, it's about resident and non-resident accounts, not foriegners vs Thai's.

Keep telling yourself that.

I am opinioning what the gloves off reality is likely to be in such a case of Thai banking collapse, not what the paper promise of today says. In a SHTF event paper promises are essentially worthless in my book. All non physical wealth is at risk.

But Thai banks look much more stable than western banks; so fingers crossed we don't get proof of who is right.

[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.

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

crank websites ahoy!

You don't seem to want to accept the reality that the US dollar is headed for a crash but I suggest you take some time and do some more reading and research on this. There are plenty of credible sources that should meet your standards if you are willing to open your eyes and accept the facts for what they are.

It is no longer a matter of if the dollar is going to tank it is just a matter of when and when it happens it will happen fast, without time to make other plans you should be making now.

[Naam]

There are plenty of credible sources that should meet your standards if
you are willing to open your eyes and accept the facts for what they are.

and inspite of these credible source there are millions of idiots, retards and brainamputed

investors who invest a part of their assets in USD.

by the way, but shhhhh... please don't tell anybody. i am one of these idiots.

[chiang mai]

I do so enjoy a good armagedon/conspiracy/doomsday scenario, some folks clearly thrive on the stuff!

[Naam]

I do so enjoy a good armagedon/conspiracy/doomsday scenario, some folks clearly thrive on the stuff!

but laughing out loudly and then cleaning my keyboard from spilled black coffee, or worse, replacing it because it was sweet portwine is quite a hassle

[mogandave]

The US fed is printing $85B a month, that doesn't concern you?

[Naam]

The US fed is printing $85B a month, that doesn't concern you?

no it does not (yet). once it concerns me i will let you know... in case you are interested.

[yoshiwara]

The US fed is printing $85B a month, that doesn't concern you?

You should be more concerned about your gold holdings dropping out of sight.

[mania]

The US fed is printing $85B a month, that doesn't concern you?

What is almost funny about that is they are in a sense

creating counterfeit counter-fiat

At one time ( when the system was healthy ) they needed to sell Treasury notes or bonds

to pay for the debt created by USD fiat creation.

Now they have created too much debt & there are not enough

legitimate buyers to keep pace with their printing/creating

So what do they do? They create an extra $85 Billion per month

to counter their own fiat debt creation

The Greatest Nation On Earth is pulling the Greatest Ponzi On Earth

Edited April 14, 2013 by mania

[morrobay]

The US fed is printing $85B a month, that doesn't concern you?

Quote from Lenin 'The best way to destroy a capitalist nation is to destroy its currency '

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

[Naam]

So what do they do? They create an extra $85 Billion per month to counter their own fiat debt creation

Mania,

that is one of the typical wrong assumptions/claims spread by gloom&doomers to BS ignorant the not so informed public. the FED neither prints nor creates actual cash. i admit that fictious billions are put down in some ledgers or rather in digital form to absorb U.S. sovereign debt in order to suppress interest rates. the learned gurus have agreed to disagree whether this is beneficial or not in the prevailing situation. the problem is that those who disagree can't come up with an alternative. all what they are able is presenting yada yada yakety-yak and the day of reckoning is looming around the corner.

do they have a solution? no, they don't!

[Naam]

The US fed is printing $85B a month, that doesn't concern you?

Quote from Lenin 'The best way to destroy a capitalist nation is to destroy its currency '

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

please state your reasons why Bernanke should be stopped and locked up. exactly what crimes did/does he commit?

[mania]

So what do they do? They create an extra $85 Billion per month to counter their own fiat debt creation

Mania,

that is one of the typical wrong assumptions/claims spread by gloom&doomers to BS ignorant the not so informed public. the FED neither prints nor creates actual cash. i admit that fictious billions are put down in some ledgers or rather in digital form to absorb U.S. sovereign debt in order to suppress interest rates. the learned gurus have agreed to disagree whether this is beneficial or not in the prevailing situation. the problem is that those who disagree can't come up with an alternative. all what they are able is presenting yada yada yakety-yak and the day of reckoning is looming around the corner.

do they have a solution? no, they don't!

Yes understood.

I used the term "create" loosely to mean created as a ledger input/cross ledger cancellation etc.

Yes no solution in sight

But I do not see a USD collapse any time soon as there is no viable replacement.

Not to mention for something to collapse it needs room to fall.

There is so much worldwide crap under the USD it cannot even fall of its own free will.

But they can devalue it till repayment of debt is managable

So to morrowbay's question

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

It is because Bernanke's crime? is against the citizens who will be made to repay not the government who appointed & cheers him onward.

[Naam]

It is because Bernanke's crime? is against the citizens who will be made
to repay not the government who appointed & cheers him onward.

i can only repeat my question slightly altered "what is the alternative to Bernanke's

crimes?"

of course both of us know some alternatives but nobody listens to us

-we could tell Obama and many others in charge of many countries not to have

socialistic dreams, no matter how justified and needed they are, if there is no

revenue to finance the dreams except by increasing debt.

-we could advice the republican hawks not to invade countries based on lies or

threaten to invade or bomb countries based on exerting unjustified power and

by avoiding this save trillions.

oh well...

[yoshiwara]

The US fed is printing $85B a month, that doesn't concern you?

Quote from Lenin 'The best way to destroy a capitalist nation is to destroy its currency '

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

Actually Bernanke has been heroic in stabilizing the financial system, but that doesn't fit the gold bugs hysteria so they blame Ben and 'the system' and bankers and dance around the pot of gold yelling wild incantations.

[mccw]

It is because Bernanke's crime? is against the citizens who will be made

to repay not the government who appointed & cheers him onward.

i can only repeat my question slightly altered "what is the alternative to Bernanke's

crimes?"

of course both of us know some alternatives but nobody listens to us

-we could tell Obama and many others in charge of many countries not to have

socialistic dreams, no matter how justified and needed they are, if there is no

revenue to finance the dreams except by increasing debt.

-we could advice the republican hawks not to invade countries based on lies or

threaten to invade or bomb countries based on exerting unjustified power and

by avoiding this save trillions.

oh well...

Naam . I like your two ideas.

I'd add a dose of breaking up the banks and restoring law and order to thatix as well.

(I know we will not be listened to)

--------

Yoshi , really on another level , Bravo

[tyznd]

The US fed is printing $85B a month, that doesn't concern you?

Quote from Lenin 'The best way to destroy a capitalist nation is to destroy its currency '

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

Actually Bernanke has been heroic in stabilizing the financial system, but that doesn't fit the gold bugs hysteria so they blame Ben and 'the system' and bankers and dance around the pot of gold yelling wild incantations.

Ben Bernanke heroic in stabilizing the financial system. Surely you joke. Did you also like Alan Greenspan for the great job he did providing the pathway for the millions of bad home loans that were made that then gpt bundled and sold off around the world with AAA ratings?

Regarding gold prices, let's see where the price of gold will be in 1,2,3 years compared to the US dollar. Do you actually think holding greenbacks will be a more prudent thing to do or would it make more sense to use some of those greenbacks to buy gold like I am doing?.

[yoshiwara]

The US fed is printing $85B a month, that doesn't concern you?

Quote from Lenin 'The best way to destroy a capitalist nation is to destroy its currency '

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

Actually Bernanke has been heroic in stabilizing the financial system, but that doesn't fit the gold bugs hysteria so they blame Ben and 'the system' and bankers and dance around the pot of gold yelling wild incantations.

Ben Bernanke heroic in stabilizing the financial system. Surely you joke. Did you also like Alan Greenspan for the great job he did providing the pathway for the millions of bad home loans that were made that then gpt bundled and sold off around the world with AAA ratings?

Regarding gold prices, let's see where the price of gold will be in 1,2,3 years compared to the US dollar. Do you actually think holding greenbacks will be a more prudent thing to do or would it make more sense to use some of those greenbacks to buy gold like I am doing?.

On the gold issue those in your camp have been peddling the same story for the last two years and are now 20% down. Against US dollars that is. So much for sense which clearly you are in short supply. No I don't joke. Those with little understanding of economics beyond their loony tune websites foam at the mouth and even their hero Ron Paul never managed to put a glove on old Ben in the Congressional hearings. Now on the topic of the thread the dollar may/may not decline against the Baht. Let's just hope it doesn't plummet as much as gold has this last year.

[Naam]

The US fed is printing $85B a month, that doesn't concern you?

Quote from Lenin 'The best way to destroy a capitalist nation is to destroy its currency '

So why cant anyone stop this Bernanke ? He should be taken away and locked up for treason.

Actually Bernanke has been heroic in stabilizing the financial system, but that doesn't fit the gold bugs hysteria so they blame Ben and 'the system' and bankers and dance around the pot of gold yelling wild incantations.

Ben Bernanke heroic in stabilizing the financial system. Surely you joke. Did you also like Alan Greenspan for the great job he did providing the pathway for the millions of bad home loans that were made that then gpt bundled and sold off around the world with AAA ratings?

Regarding gold prices, let's see where the price of gold will be in 1,2,3 years compared to the US dollar. Do you actually think holding greenbacks will be a more prudent thing to do or would it make more sense to use some of those greenbacks to buy gold like I am doing?.

a general misconception exists as far as "holding" greenbacks is concerned. the average goldbuglover assumes that an investor is stupid enough to "hold" greenbacks without letting them work and achieve yield 24 hours a day, 7 days a week and 365 days a year.

note: this information is free of charge.

[yoshiwara]

a general misconception exists as far as "holding" greenbacks is concerned. the average goldbuglover assumes that an investor is stupid enough to "hold" greenbacks without letting them work and achieve yield 24 hours a day, 7 days a week and 365 days a year.

note: this information is free of charge.

In translation this means that one can add to the 20% drop in gold over the last two years the interest lost on investing those dollars, so the actual loss is nearer 25%. No, Wait! Now add to that mix inflation and one can see the goldbugs aren't the brightest bulbs on the block with their broken record of buy buy buy. Worthless fiat currency indeed.