Thai farmers are not paid yet for their rice sales

[Crushdepth]

How can I sign up for these rice bonds? Looks like a rock solid investment.

(That was a joke).

[noikrit]

Whoever gets the "priviledge" to pick up the pieces after this mess is gonna have one big job infront of them !!! CHOKDEE !!

[Ricardo]

Oops! Well that could put a spanner in the works with some supporters. When is the next General Errection?

The next General Election is due in early-July 2015, four years after the last one, unless someone decides to call an snap-election, but Thaksin got burned with doing that in 2006, and he does sometimes learn from experience, witness the way several minor-parties were invited into the current governing-coalition, despite their votes not being essential.

Whatever will PM-Yingluck decide ?

Perhaps she should ask her golf-caddy or Big-Sister for 'advice' ?

And meanwhile the poor rice-farmers await their payments, while Nero Yingluck/PTP fiddle, with the 'suspended' amnesty-bill.

He didn't get his fingers burnt calling an early election!!

The army held a coup d'etat and Thaksin had to imstall 2 intermediary prime ministers until they went as well.

I was referring to former-PM Thaksin's attempt to run an election at short notice, in April 2006, several months before the coup, sorry if I didn't make that clear.

He had no great need for an election, was firmly in-control, but was unhappy with public-feeling & demonstrations which followed his tax-efficient (to put it mildly) sale of his business-interests to Temasek of Singapore, the irritating PAD-protests & publicity about on-going corruption within his administration was ramped-up after that came out.

He thought he'd be re-elected with a comfortable majority. But the Dems, and several other parties, boycotted the election and it was then annulled, under the old Constitution.

With hindsight he may well have regretted the decision to call that election, it didn't go the way he expected, and he eventually lost power.

Faced now with a similar situation, after the failure of the amended-to-clear-him amnesty-bill, his instructions to PTP have reportedly been to cling on to power, at all costs. So he appears to be following a different strategy this time round.

All only my personal opinions, of course.

[Artisi]

Oops! Well that could put a spanner in the works with some supporters. When is the next General Errection?

The next General Election is due in early-July 2015, four years after the last one, unless someone decides to call an snap-election, but Thaksin got burned with doing that in 2006, and he does sometimes learn from experience, witness the way several minor-parties were invited into the current governing-coalition, despite their votes not being essential.

Whatever will PM-Yingluck decide ?

Perhaps she should ask her golf-caddy or Big-Sister for 'advice' ?

And meanwhile the poor rice-farmers await their payments, while Nero Yingluck/PTP fiddle, with the 'suspended' amnesty-bill.

He didn't get his fingers burnt calling an early election!!

The army held a coup d'etat and Thaksin had to imstall 2 intermediary prime ministers until they went as well.

I was referring to former-PM Thaksin's attempt to run an election at short notice, in April 2006, several months before the coup, sorry if I didn't make that clear.

He had no great need for an election, was firmly in-control, but was unhappy with public-feeling & demonstrations which followed his tax-efficient (to put it mildly) sale of his business-interests to Temasek of Singapore, the irritating PAD-protests & publicity about on-going corruption within his administration was ramped-up after that came out.

He thought he'd be re-elected with a comfortable majority. But the Dems, and several other parties, boycotted the election and it was then annulled, under the old Constitution.

With hindsight he may well have regretted the decision to call that election, it didn't go the way he expected, and he eventually lost power.

Faced now with a similar situation, after the failure of the amended-to-clear-him amnesty-bill, his instructions to PTP have reportedly been to cling on to power, at all costs. So he appears to be following a different strategy this time round.

All only my personal opinions, of course.

Rest assured, the strategy being promoted by the fugitive from the sand bunker well removed from the war zone is solely aimed to achieve 1 goal and that's, "I want I want" - doesn't matter who gets trampled to achieve the required result - cause I'm the only one that's important and its probably a fair assumption knowing what a base-hole the fugitive is - that he would sacrifice his own sister should she get in his way.

Edited November 21, 2013 by Artisi

[MJP]

Have the farmers been paid yet?

[Dancealot]

Sounds like the bank is having a serious liquidity problem although one feels the government cannot let it go bust as millions of rural people could lose their savings.

To everyone: Forgive me for not completely understanding.

I learned the rice is sold to the government and the banks are being blamed for paying the farmers late.

Is this correct? If so I presume there is a gap between the government and the banks.

[Dancealot]

Have the farmers been paid yet?

NO

[whybother]

Sounds like the bank is having a serious liquidity problem although one feels the government cannot let it go bust as millions of rural people could lose their savings.

To everyone: Forgive me for not completely understanding.

I learned the rice is sold to the government and the banks are being blamed for paying the farmers late.

Is this correct? If so I presume there is a gap between the government and the banks.

The banks are loaning the money to the government. The government then pays the farmers (or not, as the case may be).

[MJP]

Have the farmers been paid yet?

NO

Oh b0!!ox! That's a big Makro shop then this month!

[Dancealot]

The banks are loaning the money to the government. The government then pays the farmers (or not, as the case may be).

I will refrain from speculating now..

Next question:

How does the Thai government secure this loan to the bank? What is their pledge to proof they can guarantee to pay this loan back?

[Dancealot]

Oh b0!!ox! That's a big Makro shop then this month!

The farmers haven't been paid and as usual it remains unclear when they will.

[MJP]

The banks are loaning the money to the government. The government then pays the farmers (or not, as the case may be).

I will refrain from speculating now..

Next question:

How does the Thai government secure this loan to the bank? What is their pledge to proof they can guarantee to pay this loan back?

[Dancealot]

Clear, MJP. Thanks. Looks like Fort Knox 50 years ago.....

Speculation:

The banks won't pay out to the farmers untill a certain minimum section of the loan has been payed back?

[thaicbr]

Sounds like the bank is having a serious liquidity problem although one feels the government cannot let it go bust as millions of rural people could lose their savings.

To everyone: Forgive me for not completely understanding.

I learned the rice is sold to the government and the banks are being blamed for paying the farmers late.

Is this correct? If so I presume there is a gap between the government and the banks.

The banks are loaning the money to the government. The government then pays the farmers (or not, as the case may be).

As far as i'm aware that's not 100% correct.

The BAAC (http://www.baac.or.th/baac_en/)

the BAAC accept the pledge from the farmer and pay the money (sometimes the miller/ warehouse will buy the pledging document along with the rice if the farmer needs quick money, at a lower rate)

the Commerce ministry is supposed to sell the rice and the Finance ministry pays that back to BAAC

http://www.thaigov.go.th/en/news-room/item/72404-the-governments-rice-pledging-policy.html

http://englishnews.thaipbs.or.th/baac-told-slash-spending-rice-pledging-scheme-500-billion-baht/

http://www.reuters.com/article/2013/10/21/thailand-press-idUSL3N0IB06R20131021

it's basically lies and more lies. It ould be funny if not so serious !

Edited November 21, 2013 by thaicbr

[thaicbr]

Especially when foreign investors are net sellers of bonds and a downgrade is imminent because of the rice scamming scheme that has drained all of the money from the coffers.

They will have to pay such high yields on the bonds as they risk becoming junk bonds the way things are deteriorating in the confidence of the Thai economy. Big business will have to pay higher interest rates on their borrowings if Thailand is downgraded, further adding to the woes!!

Yingluck!!, your days are numbered - you should have paid more attention to the economy (I know that you and your thicko buddies such as serial liar Kittirat don't understand such things) instead of thinking of your brother all the time as if it is just he that matters!!

You even cocked that up big time so why not disappear and let somebody with experience and who knows what he is doing ie: look no further than Abhisit to run the show!!

Great idea, get the unpopular and unelectable Abhisit to head up another unelected government and have his strings pulled by the usual suspects.

Didn't we try that already and it failed badly, with his new friends of Newin faction plundering the most lucrative government ministries to their heart's content?

It doesn't matter how badly this PTP government performs, they can rest assured the opposition is still as unpopular as ever and for the reasons for this just look to whom they are aligned with and their performances in office through the 90's and after the judicial coup.

Baton down the hatches as civil conflict is imminent!

Ohh the same Newin faction that may rejoin PTP (minus Newin) and were in the previous Thaksin administations. You also forgot the the slippery eel Banharn Silpa Archer the guy and his party have been in pretty much EVERY government since he started in politics (36 years)

"Under the leadership of Banharn, the Thai Nation Party won the parliamentary election in 1995, and he became the 21st Prime Minister of Thailand, leading a seven-party coalition. Banharn has been involved in numerous corruption scandals one of which diminished the concordance in his administration and caused him to resign.^[4] His short-lived yet highly inept administration is also believed to have paved the way for the economic crisis of 1997.^[5]

During a state visit by Queen Elizabeth II of the United Kingdom in October 1996 he mistakenly referred to her as "Queen Elizabeth Taylor", receiving many ridicules and criticisms as a result.^[6]"

Supanburi have some great smooth roads even now 17 years after he was PM.

Very good pdf article/paper here about Banharn: http://www.yale.edu/seas/Nishizaki.pdf

Edited November 21, 2013 by thaicbr

[Dancealot]

Inbetween : These numbers don't look too bad to me , a mere $1.34 difference..

1 price the government gets: Global Average Price*: 1.82(USD) link

2 price the farmers get: 15,000 baht ($488) per ton link

A gap of $1.34/kilo....

[longway]

Inbetween : These numbers don't look too bad to me , a mere $1.34 difference..

1 price the government gets: Global Average Price*: 1.82(USD) link

2 price the farmers get: 15,000 baht ($488) per ton link

A gap of $1.34/kilo....

Government pays 15,000 baht per tonne for paddy, which equates to 24,000 baht per tonne for the milled rice.

[louse1953]

I really feel for the farmers here. They may have been paid to vote for the ruling party but they could not have predicted the fiasco to follow. Sooner or later this will come crashing down, there is no other way for it to go, and then who will suffer? it wont be the rich and greedy who have profited from trashing Thailands number 1 global export position, it will be the farmers who will suffer. it will eventually become clear what the real demand is for Thai rice since losing so much trade, and when the real demand meets the farmers output rather then being masqueraded by the government purchase scheme then people will really suffer.

Very sad and a real case of the poor taking the hit for stupid decisions made by the rich, driven by nothing more the greed,,, they should be ashamed of themselves and be apologising to the people of Thailand,, never happen of course.

The rich get richer and the poor get the picture.

[SICHONSTEVE]

I really feel for the farmers here. They may have been paid to vote for the ruling party but they could not have predicted the fiasco to follow. Sooner or later this will come crashing down, there is no other way for it to go, and then who will suffer? it wont be the rich and greedy who have profited from trashing Thailands number 1 global export position, it will be the farmers who will suffer. it will eventually become clear what the real demand is for Thai rice since losing so much trade, and when the real demand meets the farmers output rather then being masqueraded by the government purchase scheme then people will really suffer.

Very sad and a real case of the poor taking the hit for stupid decisions made by the rich, driven by nothing more the greed,,, they should be ashamed of themselves and be apologising to the people of Thailand,, never happen of course.

The rich get richer and the poor get the picture.

That's the BIG problem - they DON'T get the big picture.

They are just as stupid as they will continue to tread the same path in life irrespective as to what is happening in Thailand, unfortunately.

If you told them they would be 10 times better off under an Abhisit administration they would still vote Pheu Thai such is the extent of the success of the Thaksin brain-washing machine!!

This is why I don't feel sorry for them. If I told them the fire was hot and would burn them severely and Thaksin said "no its not it's cold" they would keep on thrusting their hand in the fire no matter that the skin was gone!!

[Showbags]

The banks are loaning the money to the government. The government then pays the farmers (or not, as the case may be).

I will refrain from speculating now..

Next question:

How does the Thai government secure this loan to the bank? What is their pledge to proof they can guarantee to pay this loan back?

You question the government?

[trevor4]

Have the farmers been paid yet?

They have to wait an aggregate of 98 days in order to receive any money. What's a mere 3 months between friends?

http://www.thaivisa.com/forum/topic/683351-thai-bank-clarifies-why-it-has-no-money-to-pay-rice-farmers/page-4#entry7068374

Although, 99 days would be more auspicious date for money.

Edited November 22, 2013 by trevor4

[Thait Spot]

How long will it take to set up and sell the 75 billion baht bonds?

Gonna be some frustrated farmers

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[SICHONSTEVE]

Have the farmers been paid yet?

They have to wait an aggregate of 98 days in order to receive any money.

http://www.thaivisa.com/forum/topic/683351-thai-bank-clarifies-why-it-has-no-money-to-pay-rice-farmers/page-4#entry7068374

although 99 days would be more auspicious

Well, 99 is a very lucky number and you get a flake with it!!

[Nickymaster]

Have the farmers been paid yet?

They have to wait an aggregate of 98 days in order to receive any money. What's a mere 3 months between friends?

http://www.thaivisa.com/forum/topic/683351-thai-bank-clarifies-why-it-has-no-money-to-pay-rice-farmers/page-4#entry7068374

Although, 99 days would be more auspicious date for money.

These farmers should have enough liquidity to wait 99 days. After all, according to PT, they are doing very well.

[Showbags]

There is a lot of doom and gloom about here.

Time for uplifting and positive news.

Hows them submarines coming along?