Thai farmers are not paid yet for their rice sales

[gemini81]

I guess the red shirt farmers will have to make do with IOUs

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

And have to do with the effects of who they were retarded enough to vote for, with a mere carrot baiting them along to the edge of a mountain. What is flabbergasting is they have repeated the same pattern for generations.

[laocowboy2]

He said that the bank wanted the Ministry of Commerce to speed up selling rice in its stock to get as much as 130 billion baht for use.

Sell to who? The world market price for rice is lower than the price paid to the farmers, the government has been warned about dumping, maybe they can trade it to the Chinese for trinkets.

Or perhaps barter for lots of red t-shirts?

[SICHONSTEVE]

Here goes the PTP support base evaporating if the farmers can't get paid and go bust, or is it part of a clever plan to send the farmers broke, then buy thier land and rent it back to them?

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

I think that their plan is different to this.

If the farmers are not paid, and cannot buy seed then they can't grow rice which will ease the burden on the government!!

All I've got to say is Ahhhh diddums to you for being so pathetically stupid in voting this trash in!!!

Edited November 20, 2013 by SICHONSTEVE

[Showbags]

Yeah they should be able to play catchup if no rice is grown this year.

[tim armstrong]

This is a far larger political minefield than the Charter Amendment or anything else. Why has the stockpile stayed so large - because there are not enough customers, especially when India and Vietnam can sell their rice more cheaply. The rice thats being sold now is second grade and therefore cheaper. But the government cannot help but lose money on this one. There are far more farmers and rural dwellers in Thailand than those who live in the city. If rural communities start to suffer, for sure there will be a major conflict. Next year is shaping up to be very interesting.

[moe666]

He said that the bank wanted the Ministry of Commerce to speed up selling rice in its stock to get as much as 130 billion baht for use.

Sell to who? The world market price for rice is lower than the price paid to the farmers, the government has been warned about dumping, maybe they can trade it to the Chinese for trinkets.

Yes pay the farmers in trinkets to sell in the market

[TPI]

Why not send it all to the Philipines and claim the loss against ........!?

[tomacht8]

My God, they drive this beautiful country in a stunning speed against the wall.
Not even enough money there to pay for their own voters.
It is not a good idea to pay for a ton of rice 15,000 baht, when the world market price is only 11,000 baht/ton.
It is obvious that greed can be awakened.
Take a 10 ton truck full with rice from Burma / Laos or Cambodia.
Let him drive 10 times around the block over the weighting scale.
This will be 1.500.000 Baht some greedy people can share a day, only for one "black" truck.
Hope there is no rice missing in the stocks.
The budget loss is 4.000 Baht for every real delivered ton.

The budget deficit is huge.
Plus the deficit for the first time car and house buyer scheme.
Price/Tax increases without end: Food, rent, gas, electric, alcohol, tobacco, gasoline, etc.
Even the planned 500 Baht arrival/tax/travel Insurance for foreigners or how ever they call it, will not plug this budget gap.

I fear for my Thai Baht savings.

[scorecard]

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.

And another example of the Thai education system and the puyai usage of ' it's black or it's white ' no need / no capability to do an overall objective analysis of what's right in your face.

[mimithewoof]

Nice one, Gazzpa, I'm with you on this - I seem to remember an old London cockney song, something like

'it's the rich that gets the money,

it's the poor that gets the blame...

ain't it all a blooming shame'

Yes, it's one hell of a shame.

[Torrens54]

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

[icare999]

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.

serves them right for supporting a load of thugs and worshiping someone who cares nothing except to make himself and his clan total overlords in Thailand. I have no sympathy for any of them. You can argue all you like about its due to lack of education, being downtrodden by BKK elite and rest of BS if people are so naive as to believe they will gain by selling their votes and supporting trying to burn down Bangkok then its just Karma.

[hellodolly]

"...its spending ceiling was capped at 500 billion baht." and that is G O N E !

Backed by a depreciating asset with high storage costs, over-valued by wishful thinkers. Those bonds will have to offer a really good return.

Not being an economist I was wondering if this debacle continues would the baht go down so far that it would take a high interest rate to recover your money with a profit? I am sure that Moodies is going to comment on this and it will not be favorable. Thailand may not listen to them but the rest of the world will.

Seems to me they are buying high and selling low. That I know is not good business management.

What was Yingluck's degree in "English"

[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.

Edited November 21, 2013 by Ricardo

[noikrit]

Any guess where the trillions of baht loan for infrustructure money will be headed ??? Don't expect any infrustructures to start too soon

[newermonkey]

Don't get too excited but the lady at the top's new car is far nicer than common boring bags of rice.

Mercedes S-Class SE/ S500

[FarangTalk]

2.2 Trillion Baht transferred out of the country.

Baht crashes, repeat of 1997. Baht worth 40 to the US$. Money is then transferred in again. 2.2 trillion suddenly becomes 3 trillion with 0.8 trillion skimmable profit.

Easy to see what is happening.

Thaksin is getting his money back.

Edited November 21, 2013 by FarangTalk

[lomatopo]

And now they're selling bonds to pay for the rice.

And the Ministry of Finance will probably buy all these bonds. Round and round she goes, where she stops, nobody knows.

They've been trying to auction white and Hom Mali but the bids have been deemed too low.

The Public Debt Management Office (PDMO) said yesterday the BAAC will issue a three-year bond worth 75 billion baht to continue the scheme.

"The bond will be sold to the public on Nov 29," said Suwit Rojanawanich, the office's public debt adviser.

Mr Suwit said the BAAC's notes for the programme are fully guaranteed by the Finance Ministry.

Next year the BAAC will consider whether to issue bonds or another term loan.

[NeverSure]

And now they're selling bonds to pay for the rice.

And the Ministry of Finance will probably buy all these bonds. Round and round she goes, where she stops, nobody knows.

They've been trying to auction white and Hom Mali but the bids have been deemed too low.

The Public Debt Management Office (PDMO) said yesterday the BAAC will issue a three-year bond worth 75 billion baht to continue the scheme.

"The bond will be sold to the public on Nov 29," said Suwit Rojanawanich, the office's public debt adviser.

Mr Suwit said the BAAC's notes for the programme are fully guaranteed by the Finance Ministry.

Next year the BAAC will consider whether to issue bonds or another term loan.

I read the OP over and over. It doesn't say how much of the collateral for those loans from the Ag Bank is missing, which of course no one does.

But I still see a trillion baht. It doesn't actually say they've paid back any of the 670 bil baht. It could be 670 after they paid some back. Then we know they took 1/2 of the Ag Bank's capital, or 100 billion baht for the scheme. There's 770 bil. Now they need to pay for two upcoming harvests, and presto.

We have an Ag Bank with only 100 bil baht of it's own capital to lose which is on the hook for 670 bil in rice scheme loans and the collateral can't be worth 1/2 of that when considering what it's really worth instead of what they paid, and then what's rotted or stolen...

So what does a bank do when it loses more money than it has to lose - it's own total capital? If honest it closes as defunct. If not honest it keeps on, losing its depositors' money.

Hmmmm - honest? - Hmmmm....

[SICHONSTEVE]

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.

[marcusd]

And now they're selling bonds to pay for the rice.

 

Selling Bonds to get money is what governments do...

but they should not do so much....

Sent from my RM-892_apac_laos_thailand_219 using Tapatalk

[Thait Spot]

Dear farmers of the north and north east,

You carried me across the water to the shore

Now I shall take myself up the hill

Sorry about spending all the money

Tata for now

[SICHONSTEVE]

And now they're selling bonds to pay for the rice.

Selling Bonds to get money is what governments do...

but they should not do so much....

Sent from my RM-892_apac_laos_thailand_219 using Tapatalk

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!!

[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.

Why do you feel sad and sorry for them??

Lets face it, they will never 'get it' will they!!

If Pheu Thai chopped all of their fingers off they would still find a way to get their ballot paper into the box, marked for the PTP candidate.

They are so blinkered it is a joke and the more bleak things get for them the better as far as I'm concerned - I hope that it gets to the point where they are so dissilutioned that they just don't bother to vote as that would at least be one less vote for these peasant pretenders!!

[FarangTalk]

And now they're selling bonds to pay for the rice.

Selling Bonds to get money is what governments do...

but they should not do so much....

Sent from my RM-892_apac_laos_thailand_219 using Tapatalk

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!

[SICHONSTEVE]

Actually, the latest polls put Abhisit's popularity well ahead of pseudo PM Yingluck at 34.8% against 26.7%.

He and his team guided the economy with the utmost skill and responsibility without the irresponsible populist schemes that the PTP used to bribe those gullible neandertals that clearly don't understand anything about anything in order to gain and then abuse their given power.

Tell me, do you think that it is right to abuse parliamentary process in order to benefit one ****** and try to turn Thailand into a dictatorship, without checks and balances and without an effective opposition?

Do you think that the rice pledging scheme has been an effective means of improving the farmers standards of living?

Is it sensible to raise domestic debt levels by encouraging people to buy cars that they cannot afford, to block Bangkok's already crowded roads, simply to appease car manufacturers that were a little bit annoyed at their factories and cars getting wet from going elsewhere to make them?

Do you know what? I think your answer to these three questions might be YES!! I imagine that you reside in the North (possibly in one of those 'red villages') with all of those (now poor) peasant dimwits that will remain impoverished for their entire lives.

Got my sympathy?? Nope!!!

[GAZZPA]

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.

Why do you feel sad and sorry for them??

Lets face it, they will never 'get it' will they!!

If Pheu Thai chopped all of their fingers off they would still find a way to get their ballot paper into the box, marked for the PTP candidate.

They are so blinkered it is a joke and the more bleak things get for them the better as far as I'm concerned - I hope that it gets to the point where they are so dissilutioned that they just don't bother to vote as that would at least be one less vote for these peasant pretenders!!

A bit harsh fella, they can't all be stupid. Remember when you are very poor it is easy for even the most switched on person to try and grab hold of a long shot. Most poor people are too busy surviving to spend time thinking about the intricacies of politics, doesn't mean that they are incapable of understanding.

The problem is, they are sticking by the government despite the fact that they have crashed the market for Thailand. Also, if / when the current mob are out of power some poor soul has to pick up the pieces and if he/she is sensible this would be number 1 priority

[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.

Why do you feel sad and sorry for them??

Lets face it, they will never 'get it' will they!!

If Pheu Thai chopped all of their fingers off they would still find a way to get their ballot paper into the box, marked for the PTP candidate.

They are so blinkered it is a joke and the more bleak things get for them the better as far as I'm concerned - I hope that it gets to the point where they are so dissilutioned that they just don't bother to vote as that would at least be one less vote for these peasant pretenders!!

A bit harsh fella, they can't all be stupid. Remember when you are very poor it is easy for even the most switched on person to try and grab hold of a long shot. Most poor people are too busy surviving to spend time thinking about the intricacies of politics, doesn't mean that they are incapable of understanding.

The problem is, they are sticking by the government despite the fact that they have crashed the market for Thailand. Also, if / when the current mob are out of power some poor soul has to pick up the pieces and if he/she is sensible this would be number 1 priority

I am not trying to imply that they are all stupid as it is probably only 85 - 95% of them. But these ones are ultra stupid. If they were switched on at all they would realise that Pheu Thai isn't so much of a long shot but can be likened to a race horse with two legs (in any combination you can think of) having to jump Bechers brook blindfold.

They are so inept that a lunatic asylum could run the country better. Why they continue to support them is beyond comprehension.

If Abhisit, Korn and people of their ability were running the country there would be no pieces to pick up as everyone would be better off (including the farmers).

[Artisi]

Seems to me that if the poor mislead and used rice farmers decided to back the Democrats and ousted the corrupt self serving PTP they would stand a much better chance of at least regaining some of the promised money. Some is far better than 100% of SFA.

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[SICHONSTEVE]

Seems to me that if the poor mislead and used rice farmers decided to back the Democrats and ousted the corrupt self serving PTP they would stand a much better chance of at least regaining some of the promised money. Some is far better than 100% of SFA.

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Better still if they hadn't have goofed by putting them there in the first place!!