Salapoo Posted July 19, 2013 Share Posted July 19, 2013 Thats about $330 Million at today's prices or about 9,239,552,000 thb Your own Cessna jet doesn't come cheap, you know,. Link to comment Share on other sites More sharing options...
Salapoo Posted July 19, 2013 Share Posted July 19, 2013 The sheer scope of graft and corruption that's in every aspect of this society, culture and country... not only will we farangs never understand it, we will never be able to understand it. It actually is a case of 'you no Thai, you no understand'. 1 Link to comment Share on other sites More sharing options...
Naam Posted July 19, 2013 Share Posted July 19, 2013 8 tons = 1.3 billion Baht = absolute nonsense! Perhaps I'm mistaken, but 8 tonnes = 282,193 oz = approx $339,000,000 @ $1200 per oz = approx 10.5 billion THB.Makes it even more difficult to believe i should have used a calculator the correct result based on today's gold price and exchange is 10.285 billion Baht. 257,206 ounces $1289.80 gold price 30.99 USD/THB Link to comment Share on other sites More sharing options...
Woodsie888 Posted July 19, 2013 Share Posted July 19, 2013 (edited) 8 tons = 1.3 billion Baht = absolute nonsense! Perhaps I'm mistaken, but 8 tonnes = 282,193 oz = approx $339,000,000 @ $1200 per oz = approx 10.5 billion THB.Makes it even more difficult to believe i should have used a calculator the correct result based on today's gold price and exchange is 10.285 billion Baht. 257,206 ounces $1289.80 gold price 30.99 USD/THB I was using tonnes as in the headline as opposed to you using tons as well Naam , plus it seems to me 8 tons is 17,920 lbs = 286,720 ozs. I do know how you like to be accurate with you figures. Edited July 19, 2013 by Woodsie888 Link to comment Share on other sites More sharing options...
Naam Posted July 19, 2013 Share Posted July 19, 2013 8 tons = 1.3 billion Baht = absolute nonsense! Perhaps I'm mistaken, but 8 tonnes = 282,193 oz = approx $339,000,000 @ $1200 per oz = approx 10.5 billion THB.Makes it even more difficult to believe i should have used a calculator the correct result based on today's gold price and exchange is 10.285 billion Baht. 257,206 ounces $1289.80 gold price 30.99 USD/THB I was using tonnes as in the headline as opposed to you using tons as well Naam we should have used an appropriate weight, e.g. "toons" Link to comment Share on other sites More sharing options...
jbrain Posted July 19, 2013 Share Posted July 19, 2013 8 tons = 1.3 billion Baht = absolute nonsense! Perhaps I'm mistaken, but 8 tonnes = 282,193 oz = approx $339,000,000 @ $1200 per oz = approx 10.5 billion THB.Makes it even more difficult to believe i should have used a calculator the correct result based on today's gold price and exchange is 10.285 billion Baht. 257,206 ounces $1289.80 gold price 30.99 USD/THB Probably you were using your Chinese calculator Link to comment Share on other sites More sharing options...
impulse Posted July 19, 2013 Share Posted July 19, 2013 "....its hunt for the eight tonnes of gold bars and ornaments that were allegedly donated to Wirapol Sukpol during his time as a monk" It doesn't say he has 8 tons today, nor does it say he ever had 8 tons at one time. It says he has gone through 8 tons during his time as a monk. From an earlier thread: The Anti-Money Laundering Office (AMLO) has found 10 bank accounts under the name of Luang Pu Nenkham, who calls himself the abbot of Si Sa Ket's "Wat Pa Khanti Dhamma" monastery, as well as records of transactions totalling up to Bt20 million per day. A year or two at 20 million baht a day and he could have laundered 20 tons of gold, never possessing more than a briefcase full at any one time. A decade or two and he could have laundered 8 tons never possessing more than a pound or two at any one time. For an analogy, add up all your paychecks from your lifetime. Then look at the balance in your bank account today (or at any time in your life). Side note: Kind of sad, isn't it? 1 Link to comment Share on other sites More sharing options...
SinglePot Posted July 19, 2013 Share Posted July 19, 2013 how many necklaces and amulets is 8 tons of gold? Roughly. I am thinking about logistics of distribution. Link to comment Share on other sites More sharing options...
Woodsie888 Posted July 19, 2013 Share Posted July 19, 2013 I was using tonnes as in the headline as opposed to you using tons as well Naam i should have used a calculator the correct result based on today's gold price and exchange is 10.285 billion Baht. 257,206 ounces $1289.80 gold price 30.99 USD/THB we should have used an appropriate weight, e.g. "toons" Yep, Goon's using toons, sounds about right. Link to comment Share on other sites More sharing options...
geronimo Posted July 19, 2013 Share Posted July 19, 2013 I'm sorry, but 8 tonnes of gold! 8 tonnes!! I read in the Bangkok post 9000 kilograms were stolen by him but assumed it was a misprint. 8 tonnes, that can't be right, can it? Well 9,000 kilograms = 9 tonnes. Therefore 8 tonnes would have to equal 8,000 kilograms. Wonder what happened to the other ton? Link to comment Share on other sites More sharing options...
belg Posted July 19, 2013 Share Posted July 19, 2013 why do poor and normal people go give gold and money to a monk while they have a vow of poverty in the first place ? what about all those little shops in front of temples, where you can buy a yellow bucket... what the monks don't need or want, they go back to the shop and split the money Link to comment Share on other sites More sharing options...
Thai at Heart Posted July 19, 2013 Share Posted July 19, 2013 I guess he might have done a runner when he was washing peoples money through gold purchases and the price dropped rather precipitously recently and people wanted their cash out? I doubt he ever had 8 tonnes of gold at once, but could easily wash that over several years. All good until the price plummets. Link to comment Share on other sites More sharing options...
GentlemanJim Posted July 19, 2013 Share Posted July 19, 2013 Sorry about the double post. I only hit the button once. About this gold...EIGHT TONS (US spelling). I have a hard time believing this figure. Is there even a ton of gold on hand in any gold shop at any one time? And how many Gold shops are there in Thailand? I have a group of friends who formed a cartel in a Southern Hemisphere country(sadly I did not have the funds to join), they purchase between 1-5 tons of gold per month. Bullion bought in bulk is cheaper. They then sell it on to some mystery buyer who has an insatiable appetite for the stuff. 8 tons for say a group of wealthy corrupt, trying to 'clean' their money is absolutely nothing. Link to comment Share on other sites More sharing options...
Woodsie888 Posted July 19, 2013 Share Posted July 19, 2013 (edited) And how many Gold shops are there in Thailand? I have a group of friends who formed a cartel in a Southern Hemisphere country(sadly I did not have the funds to join), they purchase between 1-5 tons of gold per month. Bullion bought in bulk is cheaper. They then sell it on to some mystery buyer who has an insatiable appetite for the stuff. 8 tons for say a group of wealthy corrupt, trying to 'clean' their money is absolutely nothing. Have you been drinking? Edited July 19, 2013 by Woodsie888 Link to comment Share on other sites More sharing options...
joboss Posted July 19, 2013 Share Posted July 19, 2013 Who would not be depressed after getting popped for stealing 8 tons (US) of gold? I would cry, cry, cry! Try reading and then reading again. Link to comment Share on other sites More sharing options...
bristolgeoff Posted July 19, 2013 Share Posted July 19, 2013 it is melted down or sold to many people by now.never will get it back or find it Link to comment Share on other sites More sharing options...
stoli Posted July 19, 2013 Share Posted July 19, 2013 It is hard to believe that he could have 8 tons of gold stored somewhere. There are many countries that do not have that much in their own stockpile. It appears that the stories of this Monk are continuing to grow. Besides, cash is much easier to transport when the need arises. Gold is very liquid, and easy to transfer into cash. Why wait to do it later? Link to comment Share on other sites More sharing options...
GentlemanJim Posted July 19, 2013 Share Posted July 19, 2013 And how many Gold shops are there in Thailand? I have a group of friends who formed a cartel in a Southern Hemisphere country(sadly I did not have the funds to join), they purchase between 1-5 tons of gold per month. Bullion bought in bulk is cheaper. They then sell it on to some mystery buyer who has an insatiable appetite for the stuff. 8 tons for say a group of wealthy corrupt, trying to 'clean' their money is absolutely nothing. Have you been drinking? Woodsie No I haven't, not a drop. I don't know your background, but you clearly have zero idea of what the worlds bankers and top traders are getting up to. Whilst the majority of people slave away all their lives to make ends meet, the only problem these guys have is deciding what boat they have next and making sure that their names never appear in Forbes or any other rich list. The people at the end of this trail who they sell to can not get enough. I don't know who they are and I wouldn't ask, but they drive the markets. Buy it all up, sell it, therefore the price drops, then they buy it all up again. the amount of money the team I know pay to people just to source the stuff is staggering. I won't be having a drop to drink for the rest of the night either Link to comment Share on other sites More sharing options...
tomacht8 Posted July 19, 2013 Share Posted July 19, 2013 I do not believe them.If you have to launder so much money, then you do not have to buy/sell such small quantities as Armulettes. Then it is better to buy the whole gold shop or some more,it is much more easily and efficiently with a value of 8 tons of gold. May the DSI should check the background of some Goldshop owners too. Link to comment Share on other sites More sharing options...
GentlemanJim Posted July 19, 2013 Share Posted July 19, 2013 I do not believe them. If you have to launder so much money, then you do not have to buy/sell such small quantities as Armulettes. Then it is better to buy the whole gold shop or some more, it is much more easily and efficiently with a value of 8 tons of gold. May the DSI should check the background of some Goldshop owners too. Who don't you believe? It is the DSI who have come up with the figure of 8 tons, so if you don't believe them why would you want them to check the background of Gold shops? Gold Jewellery is 10-15% more expensive than the price of the gold. When your Girlfriend wants a 2 baht Gold bracelet for a rainy day, you lose 15% the moment you walk out the door, remember that in your calculations of how much you are going to make when you sell it. If you bought gold jewellery at $1300 per ounce, you will have to wait till it hits $1495 before you start making a profit. People with big money don't do that, they buy bullion/bars/coins. I am sure there have been many 'smaller' people that have given what they thought was a monk with great prestige far more modest pieces of gold jewellery as making merit for the temple. These were trinkets for the monk to get him through his next weekend in the US. Link to comment Share on other sites More sharing options...
Shagz Posted July 19, 2013 Share Posted July 19, 2013 why do poor and normal people go give gold and money to a monk while they have a vow of poverty in the first place ? what about all those little shops in front of temples, where you can buy a yellow bucket... what the monks don't need or want, they go back to the shop and split the money It's all about the giving no matter how small or large which in return gives them inner peace and happiness, what happens after that is the choice of the receiver Link to comment Share on other sites More sharing options...
tomacht8 Posted July 19, 2013 Share Posted July 19, 2013 I do not believe them. If you have to launder so much money, then you do not have to buy/sell such small quantities as Armulettes. Then it is better to buy the whole gold shop or some more, it is much more easily and efficiently with a value of 8 tons of gold. May the DSI should check the background of some Goldshop owners too. Who don't you believe? It is the DSI who have come up with the figure of 8 tons, so if you don't believe them why would you want them to check the background of Gold shops? Gold Jewellery is 10-15% more expensive than the price of the gold. When your Girlfriend wants a 2 baht Gold bracelet for a rainy day, you lose 15% the moment you walk out the door, remember that in your calculations of how much you are going to make when you sell it. If you bought gold jewellery at $1300 per ounce, you will have to wait till it hits $1495 before you start making a profit. People with big money don't do that, they buy bullion/bars/coins. I am sure there have been many 'smaller' people that have given what they thought was a monk with great prestige far more modest pieces of gold jewellery as making merit for the temple. These were trinkets for the monk to get him through his next weekend in the US. I do not believe this goldshop owner! Link to comment Share on other sites More sharing options...
GentlemanJim Posted July 19, 2013 Share Posted July 19, 2013 I do not believe them. If you have to launder so much money, then you do not have to buy/sell such small quantities as Armulettes. Then it is better to buy the whole gold shop or some more, it is much more easily and efficiently with a value of 8 tons of gold. May the DSI should check the background of some Goldshop owners too. Who don't you believe? It is the DSI who have come up with the figure of 8 tons, so if you don't believe them why would you want them to check the background of Gold shops? Gold Jewellery is 10-15% more expensive than the price of the gold. When your Girlfriend wants a 2 baht Gold bracelet for a rainy day, you lose 15% the moment you walk out the door, remember that in your calculations of how much you are going to make when you sell it. If you bought gold jewellery at $1300 per ounce, you will have to wait till it hits $1495 before you start making a profit. People with big money don't do that, they buy bullion/bars/coins. I am sure there have been many 'smaller' people that have given what they thought was a monk with great prestige far more modest pieces of gold jewellery as making merit for the temple. These were trinkets for the monk to get him through his next weekend in the US. I do not believe this goldshop owner! Aaah, OK, cool and perfectly understandable! Link to comment Share on other sites More sharing options...
tomacht8 Posted July 19, 2013 Share Posted July 19, 2013 Sorry about my bad tinglish. "Quoting the owner of Song Charoen Gold Shop, a senior DSI official said the former monk - known as Luang Pu Nenkham - had sold gold ornaments to her through his relatives on several occasions. The shop owner Kesinee Obomkul, who also owns a housing estate in Muang district, said Wirapol had bought three houses from her but only paid for one. Angsukate also quoted Kesinee as saying that Wirapol did not pay for the Bt2.8-million house in the form of gold ornaments, though she did not provide details on the amount of gold he sold to her."So they have a lot business together.Since one month this former monk is all day in the media.They know him well.So it is very interesting to know the amount of gold he sold to her.Why she not provide this information?Even in Thailand the goldshop owners must do a bookkeeping/accounting.And a monk bought 3 houses from them.For what? Link to comment Share on other sites More sharing options...
OzMick Posted July 19, 2013 Share Posted July 19, 2013 why do poor and normal people go give gold and money to a monk while they have a vow of poverty in the first place ? what about all those little shops in front of temples, where you can buy a yellow bucket... what the monks don't need or want, they go back to the shop and split the money It's all about the giving no matter how small or large which in return gives them inner peace and happiness, what happens after that is the choice of the receiver If it makes you all warm and fuzzy, I am prepared to accept as much gold or money you are willing to give away. Furthermore, I promise to distribute it fairly to young women down on their luck and certain makers of quality beer. 2 Link to comment Share on other sites More sharing options...
Naam Posted July 19, 2013 Share Posted July 19, 2013 I do not believe them. If you have to launder so much money, then you do not have to buy/sell such small quantities as Armulettes. Then it is better to buy the whole gold shop or some more, it is much more easily and efficiently with a value of 8 tons of gold. May the DSI should check the background of some Goldshop owners too. Who don't you believe? It is the DSI who have come up with the figure of 8 tons, so if you don't believe them why would you want them to check the background of Gold shops? Gold Jewellery is 10-15% more expensive than the price of the gold. When your Girlfriend wants a 2 baht Gold bracelet for a rainy day, you lose 15% the moment you walk out the door, remember that in your calculations of how much you are going to make when you sell it. If you bought gold jewellery at $1300 per ounce, you will have to wait till it hits $1495 before you start making a profit. People with big money don't do that, they buy bullion/bars/coins. I am sure there have been many 'smaller' people that have given what they thought was a monk with great prestige far more modest pieces of gold jewellery as making merit for the temple. These were trinkets for the monk to get him through his next weekend in the US. not the DSI but a journalist of the "Nation" came up with 8 tons Link to comment Share on other sites More sharing options...
Woodsie888 Posted July 19, 2013 Share Posted July 19, 2013 And how many Gold shops are there in Thailand? I have a group of friends who formed a cartel in a Southern Hemisphere country(sadly I did not have the funds to join), they purchase between 1-5 tons of gold per month. Bullion bought in bulk is cheaper. They then sell it on to some mystery buyer who has an insatiable appetite for the stuff. 8 tons for say a group of wealthy corrupt, trying to 'clean' their money is absolutely nothing. Have you been drinking? Woodsie No I haven't, not a drop. I don't know your background, but you clearly have zero idea of what the worlds bankers and top traders are getting up to. Whilst the majority of people slave away all their lives to make ends meet, the only problem these guys have is deciding what boat they have next and making sure that their names never appear in Forbes or any other rich list. The people at the end of this trail who they sell to can not get enough. I don't know who they are and I wouldn't ask, but they drive the markets. Buy it all up, sell it, therefore the price drops, then they buy it all up again. the amount of money the team I know pay to people just to source the stuff is staggering. I won't be having a drop to drink for the rest of the night either GentlemanJim, You're quite correct. You don't know my background, which actually is pretty boring anyway. It was you who mentioned you had a group of friends who formed a 'cartel'. Now you appear to have changed your position to what the 'world's bankers and top traders' are getting up to. Perhaps you should have said you have a group of friends who are world bankers and top traders? Handling vast sums of money on a regular basis without attracting attention, especially dealing in gold bullion which is extremely well documented, is almost impossible. Link to comment Share on other sites More sharing options...
MaxLee Posted July 19, 2013 Share Posted July 19, 2013 The organized political crime mafia and religious propaganda CONTROLS the DSI, and not the other way around Link to comment Share on other sites More sharing options...
NCFC Posted July 19, 2013 Share Posted July 19, 2013 The organized political crime mafia and religious propaganda CONTROLS the DSI, and not the other way around What interests me is how and why the original youtube clip of the monk appeared in the public domain in the first place. Haven't seen this fact investigated at all. A whistleblower with good intentions? Highly unlikely, as the publisher seems to be anonymous. Now the story of 8 tonnes of gold being laundered reveals a possible motivation. Perhaps the recent and significant drop in gold prices means that certain laundering operations are resulting in someone facing heavy losses. I'm just speculating but perhaps whoever is losing money is powerful enough to drop the monk in the do-do and this is coming to light because of a deal gone wrong. I have a feeling that a very high up person is telling the DSI where the money trail leads. This very high up person obviously thinks themselves to be untouchable. As another poster has stated, this story has been managed from day one. We're all focussed on the monk and not looking at where the money is sourced from. Certainly not mom and pop donations. Like an iceberg, the monk is just the tip of the story. 2 Link to comment Share on other sites More sharing options...
gosompoi Posted July 19, 2013 Share Posted July 19, 2013 I'm sorry, but 8 tonnes of gold! 8 tonnes!! I read in the Bangkok post 9000 kilograms were stolen by him but assumed it was a misprint. 8 tonnes, that can't be right, can it? 8 tonnes, that is about 400,000,000 US dollars. Link to comment Share on other sites More sharing options...
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