Future for Thai's

[damo]

What would the future be for Thailand if the USA was no longer the worlds reserve currency?

How far in your opinion would the issues of such an event spread and how badly.

Edited January 1, 2014 by damo

[brit1984]

what would the world be like without any oceans?

[damo]

like Dubai?

[Naam]

Dubai stretches along the sea and has a lot of artificial waterways (more to come).

[Pib]

what would the world be like without any oceans?

Yea, I like this question better than the OP's questions. I'm guessing land prices would plummet since there would be so much new bottom land.

[SheungWan]

At this time of year it is essential to consult Nostradamus.

[farang62]

Just remove the U.S. Dollar from the market and imagine what would happen.

Do you really thing the Chineese could make the system work?

Just take a look at the world money supply, real or not.

I get tired of the blame game, we are all in this together.

So deal with it!

[fletchsmile]

I think the question is a much bigger worry for the US than Thailand. Thailand could just switch its foreign currency reserves to the replacement or any other alternative.

The US on the other hand would have much more serious problems, and their printing presses would no longer be able to compensate for the serious economic mismanagement and lack of leadership in the country over quite a few years now.

Demand for the dollar would go down, and the US would struggle to rollover its debts as no-one would want the new stuff coming online without a signifcantly higher rate and risk premium.

To be honest I'd say the question isn't really Thailand related, and the one about the oceans much more relevant to Thailand as well as more interesting

Cheers

Fletch

[johnnysunshine]

I believe also that the USA would suffer greatly and the cost of gas would go sky high! I think Thailand will be okay in that regard but they have some other issues pending currently which must be resolved!

[Utley]

Thailand would become a Chinese colony overnight without the U.S. to keep the status quo.

[luangtom]

Is Thailand not already almost a Chinese colony? Major gold-dealers have always been Chinese.

The current clan in charge has a Chinese background, do they not? Name a major business in

Thailand that does not have a Chinese background of some sort in its upper echelon. I would

dare say there is a deep Chinese foothold in Thailand without it being a colony per se.

The USA has definitely had its run of printing bad-paper to pay its debts. However, I do wonder

why those that hold those debts keep taking them?

Edited January 4, 2014 by luangtom

[stuartd1]

Is Thailand not already almost a Chinese colony? Major gold-dealers have always been Chinese.

The current clan in charge has a Chinese background, do they not? Name a major business in

Thailand that does not have a Chinese background of some sort in its upper echelon. I would

dare say there is a deep Chinese foothold in Thailand without it being a colony per se.

The USA has definitely had its run of printing bad-paper to pay its debts. However, I do wonder

why those that hold those debts keep taking them?

Yes but most of the Thai's of chinese descent despise the Chinese nationals. Remember, they came to Thailand to escape China!

[little mary sunshine]

Hard to imagine this happening. At least not in my lifetime.

[CIHUAHUA]

I think the question is a much bigger worry for the US than Thailand. Thailand could just switch its foreign currency reserves to the replacement or any other alternative.

The US on the other hand would have much more serious problems, and their printing presses would no longer be able to compensate for the serious economic mismanagement and lack of leadership in the country over quite a few years now.

Demand for the dollar would go down, and the US would struggle to rollover its debts as no-one would want the new stuff coming online without a signifcantly higher rate and risk premium.

To be honest I'd say the question isn't really Thailand related, and the one about the oceans much more relevant to Thailand as well as more interesting

Cheers

Fletch

i agree, the Thais could grow some rice, milk their water cows, drink some rice wine, blow up stuff with their fire-works and have China for their best friend just like NK. Don't underestimate the real value of the US dollars or of the USA - consider world stability and security - how easy it is to forget history. Cheers

[Rockhopper]

USA is no longer the worlds reserve currency!

[chingching]

Hard to imagine this happening. At least not in my lifetime.

The entire modern monetary system is only 60 , 70 years old, Bretton Woods 1944. And then in 1971 Nixon changed the game radically with the U.S. going off the gold standard, making paper currency worth only the trust you have in the government. So really our monetary system dates to 1971 and thus it could easily happen in your lifetime.

People keep holding bonds, because of that trust, and many alternatives could be a lot worse. China must continue to hold U.S. bonds, because if they sold them it could create a run on u.s. bonds, leading to practically the immediate bankruptcy of the u.s.a. and the value of all those bonds 0.00.

[SheungWan]

USA is no longer the worlds reserve currency!

How's your export/import business coming along?

[bitcoinbob]

65% of all world trade is done in the dollar, when a Malaysia company does business with an indo company it is done in dollars. when thailand exports stuff do you think the other party is paying in baht??? there is no replacement on the horizon only the dollar, china and u.s. bonds they could sell and the u.s. would freeze all Chinese assets and bank accounts .and just like the people in Cyprus what would china do nothing but scream a lot. there are more Chinese assets parked in america than they have in bonds all that corruption leads to hot money leaving the country.

[williamta20012]

it depends how it happens, if people have to convert all their US dollars to something before the mad rush to the door

u would see a MASSIVE repricing of certain commodities.

if their is a panicked run you would also see run away interest rates destroying assets prices that are base on borrowing, so hongkong china and australin real estate would have its head cut off

I think only bangkok where debt is high would be affected by the interest rates, but the real question is what would the thai cental bank do or the govt, no one likes losing their printing press

but i think this day is far away!! people who r preparing for this are so rare its stupid, govts r also not gonna rock the boat too much, they r just as bad as the United States, and have have a printing to protect from the eyes of the dumb duuuuumb duuuuuuuuuuumb peasants

[falangadang]

When the US dollar crashes as it inevitably will then it will be replaced by something else.

Already the Chinese have made arrangements to buy oil using their RMB currency.

Once the US dollar is replaced as the monetary standard for the price of oil then its game over for the USD.

Gold and Silver will remain the solid standards of measurable physical wealth.

Bitcoin,- like it or not, and whether or not its volatile or a massive Ponzi scheme it does show that this online currency or one like it could work given the amount of online commerce there is in the world these days.

I think there would be a period of volatility and losses and massive inconvenience and even chaos once the dollar collapses but rest assure that the reserve bankers of the world who hold all the wealth and control would be keen to replace it with something else.

They are pushing for a one-world currency which appears to be an inevitability.

From the research I've done on this it appears that we have 5 or so years before we see a collapse of the US dollar.

The answer I believe is to be holding zero debt and to have holdings of physical gold and silver if you possibly can as they can always be used as a means of currency in any world destination or economy.

[SheungWan]

When the US dollar crashes as it inevitably will then it will be replaced by something else.

Already the Chinese have made arrangements to buy oil using their RMB currency.

Once the US dollar is replaced as the monetary standard for the price of oil then its game over for the USD.

Gold and Silver will remain the solid standards of measurable physical wealth.

Bitcoin,- like it or not, and whether or not its volatile or a massive Ponzi scheme it does show that this online currency or one like it could work given the amount of online commerce there is in the world these days.

I think there would be a period of volatility and losses and massive inconvenience and even chaos once the dollar collapses but rest assure that the reserve bankers of the world who hold all the wealth and control would be keen to replace it with something else.

They are pushing for a one-world currency which appears to be an inevitability.

From the research I've done on this it appears that we have 5 or so years before we see a collapse of the US dollar.

The answer I believe is to be holding zero debt and to have holdings of physical gold and silver if you possibly can as they can always be used as a means of currency in any world destination or economy.

You must be over 25% down this year. Thanks for the advice

[shaurene]

It would make no difference Thailand could buy gold and when ready sell it for the Euro which would be the next major currency. I am an importer in New Zealand and we hold a good USD$ account and we have found a number of exporters in China and India price their stuff in Euro.

If the USA put 3 cents tax on petrol within 1 year they would practically cover their dept. As you know you would never stop buying petrol.

If you have a few $ buy Bitcoins. Most of you would not know what they are, look them up.

[shaurene]

When the US dollar crashes as it inevitably will then it will be replaced by something else.

Already the Chinese have made arrangements to buy oil using their RMB currency.

Once the US dollar is replaced as the monetary standard for the price of oil then its game over for the USD.

Gold and Silver will remain the solid standards of measurable physical wealth.

Bitcoin,- like it or not, and whether or not its volatile or a massive Ponzi scheme it does show that this online currency or one like it could work given the amount of online commerce there is in the world these days.

I think there would be a period of volatility and losses and massive inconvenience and even chaos once the dollar collapses but rest assure that the reserve bankers of the world who hold all the wealth and control would be keen to replace it with something else.

They are pushing for a one-world currency which appears to be an inevitability.

From the research I've done on this it appears that we have 5 or so years before we see a collapse of the US dollar.

The answer I believe is to be holding zero debt and to have holdings of physical gold and silver if you possibly can as they can always be used as a means of currency in any world destination or economy.

You I are dead right, I say if you have a few grand to spare get into bitcoin, the Chinese business people are in it a big way.

[rotary]

What would the future be for Thailand if the USA was no longer the worlds reserve currency?

This is not a IF question but more a WHEN question. The answer is not much effect in the long run. Once the Brit Pound ruled then the dollar, next it will be another currency.

The dollar is doomed to fall due to many things including the USA refusal to be responsible for their national spending which is worst than a drunk sailor in Pattaya on New Years eve. Also the USA becoming a nanny state is not helping along with all the welfare stuff being out of control. One day in the not so far future there will come a time when the USA will simply be country and another country will lead the world for a certain amount of time then it too will be replaced by a different country. Remember Rome?

[rotary]

It would make no difference Thailand could buy gold and when ready sell it for the Euro which would be the next major currency. I am an importer in New Zealand and we hold a good USD$ account and we have found a number of exporters in China and India price their stuff in Euro.

If the USA put 3 cents tax on petrol within 1 year they would practically cover their dept. As you know you would never stop buying petrol.

If you have a few $ buy Bitcoins. Most of you would not know what they are, look them up.

Well the USA Energy Information Administration says the USA uses 365 million gals a day of gasoline and with a 3 cent tax per gallon thats 10,950,000 dollars per day income from that tax. The US debt is about 17 trillion, whats a few million this way of that when you are a nanny welfare state. Interest on debt in 2013 was 220 billion or 420 billion if you count interest paid to Social Security as per the Pew Research Centre. Tax at 3 cents a gallon would be about $3,996,750,000 which is a bit short of 17 trillion. Lets face it. The USA is in big trouble and will not admit it nor restrain their spending. Hard times hurt but hurt worse when you refuse to recognize them.

[mumjokmok]

Dear Sir Les, cultural attache to the greatest nation of arrogant slobs on earth....

I don't think after the way the first 13 years of this decade played out, that they are going to let the dollar slip until they have consolidated the last few countries with nationalised industry that they want to have hold of. It's just the petrodollar that keeps it as the reserve currency and we've seen what happens if you try to fiddle with the plans of big oil. Maybe also within the world's largest banks there is some sentiment to stick with the U.S. regardless of performance, like a sharp pebble in people's shoes trying to take a confident stride forwards. Certainly within the intel community there is plenty of scope to maintain status quo, given that you can probably eaves drop on any business meeting on earth.

I think we get a decade or two more of proxy wars, with the U.S., the Chinese and the Russians et al. trying to consolidate their lot, Thailand is getting its 'reform' now which is interesting, maybe this plays a part here?

Thailand has long-standing defence treaties with the U.S. however the current Thai PM said something like "Thai's are originally Chinese and should look to focus on China for the future". So maybe there is a bit of a proxy face off about to happen. As for the U.S. currency actually falling from reserve position- no chance- not without half the planet being set on fire in retaliation............. and then after a big big destructive war, they can probably start marketing and producing all their new energy technology, but unlikely prior to while they have any competitors.

Or maybe they are the bestest of friends with China, and all the multi-billionaire individuals probably dont mind swanning it with the other fat cats of the world, and it's all just a bit of a game to get us lot to behave... something like that.... and they may all be one big conglomerate soon..... and maybe some technology replaces paper currency when the U.S. dollar finally goes.

[Briggsy]

They would pin their currency to something else. Swiss franc, Japanese yen, whatever was used for international trade.

[SheungWan]

Dear Sir Les, cultural attache to the greatest nation of arrogant slobs on earth....

I don't think after the way the first 13 years of this decade played out, that they are going to let the dollar slip until they have consolidated the last few countries with nationalised industry that they want to have hold of. It's just the petrodollar that keeps it as the reserve currency and we've seen what happens if you try to fiddle with the plans of big oil. Maybe also within the world's largest banks there is some sentiment to stick with the U.S. regardless of performance, like a sharp pebble in people's shoes trying to take a confident stride forwards. Certainly within the intel community there is plenty of scope to maintain status quo, given that you can probably eaves drop on any business meeting on earth.

I think we get a decade or two more of proxy wars, with the U.S., the Chinese and the Russians et al. trying to consolidate their lot, Thailand is getting its 'reform' now which is interesting, maybe this plays a part here?

Thailand has long-standing defence treaties with the U.S. however the current Thai PM said something like "Thai's are originally Chinese and should look to focus on China for the future". So maybe there is a bit of a proxy face off about to happen. As for the U.S. currency actually falling from reserve position- no chance- not without half the planet being set on fire in retaliation............. and then after a big big destructive war, they can probably start marketing and producing all their new energy technology, but unlikely prior to while they have any competitors.

Or maybe they are the bestest of friends with China, and all the multi-billionaire individuals probably dont mind swanning it with the other fat cats of the world, and it's all just a bit of a game to get us lot to behave... something like that.... and they may all be one big conglomerate soon..... and maybe some technology replaces paper currency when the U.S. dollar finally goes.

I am not too sure if I can put up with another decade or more of weird predictions from the massed phalanxes of Mr Bees In Their Bonnets.

[godden]

doom and gloom, beem me up scotty.

[Suradit69]

what would the world be like without any oceans?

Yea, I like this question better than the OP's questions. I'm guessing land prices would plummet since there would be so much new bottom land.

But the price of a fish dinner would rise considerably and make for a lot of nervous aquarium occupants.

Edited January 4, 2014 by Suradit69