Thai Finance says it cannot pay rice farmers by January 15

[Thait Spot]

Ray Charles would had seen this coming. Now the only solution they can come up with is to use the bank's liquidity to prop the scheme up one last time. Bank runs have been propitiated by less than that.

Thaksin/PTP is desperate, they are resorting to increasingly more desperate measures, never mind what damage they may cause to the country and its people.

Complicated Administrative procedure, Mai mee satang krap.

Maybe Kittirat forgot his PIN?

Maybe madame can shake her tail feather for a few bucks

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[lostmebike]

But did the farmers really believe them anyway?

[Cuchulainn]

good advice would be to exercise extreme caution in voicing any outrageous position on this topic

Why? Because your red mates have been duped...............AGAIN?

[waza]

Deputy Finance Minister Thanusak Lekuthai said the government has earlier promised to pay rice farmers by January 15 but now could not fulfill the promise to pay all by the time because of disruption by complicated administrative procedure.

Yes, because the treasury is broke and the BAAC 500 billion baht revolving fund is 200 billion overdrawn, now its time for Yingluck to panic.......

RT @tulsathit: RT @Tulip_Oum: Rice farmers from 5 northern provinces to block Asia Hwy 117 Pitsanulok-Nakornsawan on Jan17.-@NationChannel24

RT @tulsathit: RT @Tulip_Oum: The farmers said last protest was to ask for rice price pledging scheme money. This time is to oust govt.-@NationChannel24

Edited January 15, 2014 by waza

[tim armstrong]

I hope they do not drive the bank into bankruptcy as there must be millions of country people who have savings with them which are now being used to pay for the rice.

I am sure that would not happen, because the PTP would never ever win an election if they did. They would touch private saved money of their own. They can't be that stupid can they ?

Oh yes they can. They rely on the idea that blinding the 'uneducated farmers' with science and throwing around a few beads and trinkets will keep them quiet. But also the farmers don't need science or a PhD to know they haven't any money and they've been lied to. The 'money fiddlers', are generally not farmers. They don't understand that rice paddies left unplanted because the farmers no longer have the means to do it, will deteriorate and it will take even more money to restart the whole process. I really hope the Court has the balls to prosecute the fiddlers - whoever they are.

[zydeco]

In all seriousness, a lot of people are going to be mauled by this. Government put them out on a limb and then put a buzzsaw to it.

[Nickymaster]

Deputy Finance Minister Thanusak Lekuthai said the government has earlier promised to pay rice farmers by January 15 but now could not fulfill the promise to pay all by the time because of disruption by complicated administrative procedure.

Yes, because the treasury is broke and the BAAC 500 billion baht revolving fund is 200 billion overdrawn

a few personal agendas also doesn't make it easier for the Shins.

[Thait Spot]

good advice would be to exercise extreme caution in voicing any outrageous position on this topic

There were those of us who saw this scheme for exactly what it was from day one. Buying votes and condemned to massive financial failure.

Yingluck exacerbated things by not following the cue. The policy was for 15,000B per tonne which was bad enough but when the crowd called for 20,000, she bent over.

Corruption was flagged up in the house, the DSI and YS undertook to investigate thoroughly then swept it under the carpet.

When the numbers were brought up displaying the massive cost and massive corruption, the PTP said they would publish the figures. They never did.

Even during the current protests the PDRC said they would call off the rallies if the government made the figures public

This massive waste of taxpayers money is a <deleted> disgrace and heads should roll. That they haven't is skin to the unpunished cheating in the house. Its why the people are on the street.

Eventually it will bite the perpetrators up the are and see them incarcerated

Roll on Suthep

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[GAZZPA]

I hope they do not drive the bank into bankruptcy as there must be millions of country people who have savings with them which are now being used to pay for the rice.

I am sure that would not happen, because the PTP would never ever win an election if they did. They would touch private saved money of their own. They can't be that stupid can they ?

touch private money of their own? You can't be serious,,, if there's one thing that is certain it is that the rich preserve their own wealth at the expense of the poor.

If there isn't a solution found soon they will certainly put the bank under pressure.

[spirit47]

Yinluck will take a Heli and give carepackage to the poor, including a TV-team and tell them that it was Suthep and the southern upper and middle class, that make it impossible to pay now...and than, she do what all woman love to do, go shopping.

[DLock]

"The deputy finance minister admitted today that the government is unable to pay all farmers by today as earlier demanded by the rice farmers, citing complicated administrative procedure."

...actually, it was the PTP that promised by the 15th, and the Farmers gave them the benefit of the doubt and waited until today where it was promised the money would be in their accounts.

Don't try and twist the truth.

You've been caught in a lie again, and are now trying to blame "complicated administrative procedure", when in fact you have no money left for this scam.

Here's a clue. Stop lying. You suck at it.

[HiSoLowSoNoSo]

"Let them eat cake" is the traditional translation of the French phrase "Qu'ils mangent de la brioche", supposedly spoken by "a great princess" upon learning that the peasants had no bread. Since brioche was made from dough enriched with butter and eggs, and those ingredients were even more scarce and more costly than dough, making brioche even more out of the reach of the peasants than bread, the quote supposedly would reflect the princess's obliviousness as to the condition of the people.

[englishoak]

I cant imagine a caretaker government able to have powers to lend internationally or the credibility.

I would imagine this has something to do with a caretaker government unable to sanction funding or lending, probably a restriction based on the assumption an outgoing government may well be able to do something against the interests of the country for any new incoming government.

[fstarbkk]

I hope they do not drive the bank into bankruptcy as there must be millions of country people who have savings with them which are now being used to pay for the rice.

I am sure that would not happen, because the PTP would never ever win an election if they did. They would touch private saved money of their own. They can't be that stupid can they ?

Oh, I think they are and they would. And if it all goes to pots, they would probably blame the Dems, Suthep or the mysterious "third hand" - anyone other than themselves.

[casualbiker]

I cant imagine a caretaker government able to have powers to lend internationally or the credibility.

I would imagine this has something to do with a caretaker government unable to sanction funding or lending, probably a restriction based on the assumption an outgoing government may well be able to do something against the interests of the country for any new incoming government.

Well you would be wrong as the EC has sanctioned 130 billion baht for the scheme.. so don't let your imagination get in the way of your reading.

[ratcatcher]

good advice would be to exercise extreme caution in voicing any outrageous position on this topic

Since you normally post well reasoned comments, do you have some non outrageous comments regarding this topic.?

Is it as simple as "The government (in caretaker mode) is technically broke?

[WitawatWatawit]

If certain members of Thai society didn't understand austerity before, they will soon be finding out the hard way. This is going to hurt. I hope the poor who are going to suffer the most will erect a statue of shame to the Shin family. Jesus, what a mess.

[whybother]

I cant imagine a caretaker government able to have powers to lend internationally or the credibility.

I would imagine this has something to do with a caretaker government unable to sanction funding or lending, probably a restriction based on the assumption an outgoing government may well be able to do something against the interests of the country for any new incoming government.

That's right. Caretaker governments usually can't make decisions that will have consequences on incoming governments.

But it's not like they didn't know about the rice payments before they called the election.

[Scamper]

The trashing of the banks is the last refuge of Pheu Thai. Except the banks are saying no, and they are not being the least bit quiet about it. This administration - which absolutely swims in graft - is now realizing that it has all come to roost. There goes the base. The administration has been unable to make the payments to the farmers since October. So naturally, they blame the protests. The farmers, however, are not buying it. Their educational evolvement on this issue is dangerous news to Thaksin, who would much prefer their eyes were covered.

[casualbiker]

The trashing of the banks is the last refuge of Pheu Thai. Except the banks are saying no, and they are not being the least bit quiet about it. This administration - which absolutely swims in graft - is now realizing that it has all come to roost. There goes the base. The administration has been unable to make the payments to the farmers since October. So naturally, they blame the protests. The farmers, however, are not buying it. Their educational evolvement on this issue is dangerous news to Thaksin, who would much prefer their eyes were covered.

The one time i can say thank goodness for social media Just think if the farmers HADN'T earn't that little extra they may not have gone out to buy the Tablet or new smartphone!

Edited January 15, 2014 by casualbiker

[Prbkk]

good advice would be to exercise extreme caution in voicing any outrageous position on this topic

There were those of us who saw this scheme for exactly what it was from day one. Buying votes and condemned to massive financial failure.

Yingluck exacerbated things by not following the cue. The policy was for 15,000B per tonne which was bad enough but when the crowd called for 20,000, she bent over.

Corruption was flagged up in the house, the DSI and YS undertook to investigate thoroughly then swept it under the carpet.

When the numbers were brought up displaying the massive cost and massive corruption, the PTP said they would publish the figures. They never did.

Even during the current protests the PDRC said they would call off the rallies if the government made the figures public

This massive waste of taxpayers money is a fuc_king disgrace and heads should roll. That they haven't is skin to the unpunished cheating in the house. Its why the people are on the street.

Eventually it will bite the perpetrators up the are and see them incarcerated

Roll on Suthep

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

I don't disagree about the rice pledging. It is very bad policy . It needs to go. I'm not sure anyone has ever argued in its favour, at least not on this site. Maybe the govt does have some short-term liquidity issues. However, the country can pay its debts. The bank IS NOT insolvent, nor is there any chance the govt would allow it to become so. Another poster has suggested some change in monetary policy. I agree.I suspect it would be a modest shift..

Whatever the question, Suthep is not the answer ( or partial answer). The sun is still coming up tomorrow.

[SamMunich]

I hope nobody of you has any money in the BAAC, else I would withdraw it ASAP for sure. Remember the Bankok Bank of Commerce? The going down of that bank was one of the first steps for the financial crisis in 1997, if my memory serves me right.

What makes this so bad is, that it is the farmers, who will be robbed twice. OTOH this is not the first time the Shin government does this. I recall some years ago they ordered the Krung Thai Bank to pay out for some scheme. Being a government bank they had to comply. But at some point they simply refused, as it was endangering the future existience of the bank.

And the farmers, what can they do? They had to participate in the rice pledging scheme as long as it was paying above market price. Not to do would be loosing money. So they participated and hoped for the best while fearing the worst. They have/had no choice...

No you can't just print new money, just because the government says so. It is up to the central bank to decide.

I guess, the Shin folks want the elections yesterday, if that were possible. To dissolve the parliament was a major f**k_up on their side. Now even if they get an election on February 2nd, no new government comes into being for the lack of MPs. But the farmers will have cast their vote by then, so they are up for grabs by the same people, who screwed them before.

And all this because of th stubbornness of a single magalomaniac...

[slapout]

The Finance and Commerce Ministers are willing partners in this scam and it would not surprise me to find that they were major players in its setting it up and its operation. Both are proven liars as well as displaying stong signs of being total incompentent at handling any position of responsibility where public finance and tax monies are concerned..

[SheungWan]

good advice would be to exercise extreme caution in voicing any outrageous position on this topic

I love it when the boiler room goes into pompous mode. You just know they are on the back foot running out the door with that 'you'll be sorry' refrain. This is serious business when such a scandal breaks which is no less than an attempted looting of a bank to fulfill government policies. Now whose fingers are on this one? One might ask whether the Finance Ministry under the 'guidance' of Thaksin will do another raid on other banks.Food for thought whether to leave monies on deposit with a 'caretaker' government so out of control. This is a serious business now.

Edited January 15, 2014 by SheungWan

[Siripon]

Unpaid farmers from Pichit and elsewhere, please drive your tractors and etain vehicles to Bangkok, surround Kittirat and Yingluck's houses. Kamnan Suthep is walking many miles each day, please bring some trailers too so his and others' weary feet may restas they visit ministries and government offices

The end is not far off now.

[Prbkk]

good advice would be to exercise extreme caution in voicing any outrageous position on this topic

Since you normally post well reasoned comments, do you have some non outrageous comments regarding this topic.?

Is it as simple as "The government (in caretaker mode) is technically broke?

Yes, I think they have some short-term issues with this but my initial post was badly worded.

[Gweiloman]

The trashing of the banks is the last refuge of Pheu Thai. Except the banks are saying no, and they are not being the least bit quiet about it. This administration - which absolutely swims in graft - is now realizing that it has all come to roost. There goes the base. The administration has been unable to make the payments to the farmers since October. So naturally, they blame the protests. The farmers, however, are not buying it. Their educational evolvement on this issue is dangerous news to Thaksin, who would much prefer their eyes were covered.

This must surely be the best time for elections if you're an anti govt supporter, isn't it?

[^_^]

Oh, I think they are and they would. And if it all goes to pots, they would probably blame the Dems, Suthep or the mysterious "third hand" - anyone other than themselves.

Last month, words among the Reds here in my village in Chiang Mai, was that the Dems are blocking the government from making payment to farmers.

This month, words spreading around is that the Dems has already bankrupted the country before the current government took office.

Saddest part is..the Reds here believed it.

So...yes...I believe that they will be voted back again in the next election.

Democracy has already been totally twisted in Thailand.

[nottocus]

Oh, I think they are and they would. And if it all goes to pots, they would probably blame the Dems, Suthep or the mysterious "third hand" - anyone other than themselves.

Last month, words among the Reds here in my village in Chiang Mai, was that the Dems are blocking the government from making payment to farmers.

This month, words spreading around is that the Dems has already bankrupted the country before the current government took office.

Saddest part is..the Reds here believed it.

So...yes...I believe that they will be voted back again in the next election.

Democracy has already been totally twisted in Thailand.

Classic. I guess if they believe it then they deserve everything the get/don't get.

[Nowhereman60]

.I'll gladly pay you Tuesday for a hamburger rice today.