dagling Posted January 15, 2014 Share Posted January 15, 2014 Thailand has a very uncertain future, major economic challenges and we read that the government has no money to pay rice farmers. Do we see the beginning of a total collapsing of the Thai economy? I have some money in the SCB bank, and consider now to take them out or transfer them back to my Norwegian bank. What is your opinion? Link to comment Share on other sites More sharing options...
Popular Post SheungWan Posted January 15, 2014 Popular Post Share Posted January 15, 2014 My opinion is to do whatever helps you sleep better at night. 7 Link to comment Share on other sites More sharing options...
dagling Posted January 15, 2014 Author Share Posted January 15, 2014 My opinion is to do whatever helps you sleep better at night. Sleeping pills ? 1 Link to comment Share on other sites More sharing options...
SheungWan Posted January 15, 2014 Share Posted January 15, 2014 (edited) My opinion is to do whatever helps you sleep better at night. Sleeping pills ? Up to you as they say, but worth thinking about putting substantial savings if held, in either HK or Singapore. Attempting to do a raid on a bank's reserves is a big deal IMHO. Someone blew the whistle but the genie is somewhat out of the bag in terms of confidence. Edited January 15, 2014 by SheungWan Link to comment Share on other sites More sharing options...
Popular Post Langsuan Man Posted January 16, 2014 Popular Post Share Posted January 16, 2014 Why ? Are you planning on going back to Norway any time soon ? If not, do you think that the situation here is so bad here that you will go back to Norway ? Up to you, but unless you are going back then your money should stay where you are, IMHO 4 Link to comment Share on other sites More sharing options...
Popular Post Pib Posted January 16, 2014 Popular Post Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. 11 Link to comment Share on other sites More sharing options...
SheungWan Posted January 16, 2014 Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? 1 Link to comment Share on other sites More sharing options...
Jasun Posted January 16, 2014 Share Posted January 16, 2014 You're too late. Link to comment Share on other sites More sharing options...
chiang mai Posted January 16, 2014 Share Posted January 16, 2014 PIB is right, what's happening now in Bangkok is routine stuff, if folks can't handle that they probably shouldn't be here. And any funds held in Thailand need to be spread across more than one bank, the same approach that sensible people would adopt in any country. 1 Link to comment Share on other sites More sharing options...
Pib Posted January 16, 2014 Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? Oh that's political also...all an attempt to further political goals which is usually to stay in power as long as possible. Sent from my Samsung S4 (GT-I9500) Link to comment Share on other sites More sharing options...
meatboy Posted January 16, 2014 Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? seems like bendicks is back. Link to comment Share on other sites More sharing options...
SheungWan Posted January 16, 2014 Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? Oh that's political also...all an attempt to further political goals which is usually to stay in power as long as possible. Sent from my Samsung S4 (GT-I9500) Sure, but in relation to holding deposits in a Thai bank, this IMHO is of a qualitatively different order and takes risk as it applies to one's own personal finances to a different plane (plain?). Link to comment Share on other sites More sharing options...
chiang mai Posted January 16, 2014 Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? seems like bendicks is back. No, just a reinvented Yoshiwara with his own peculiar view of things. 1 Link to comment Share on other sites More sharing options...
midas Posted January 16, 2014 Share Posted January 16, 2014 This kind of stuff has been going on in Thailand for decades. Anyone not comfortable living in a country which has frequent major political conflicts which involves street protests and an occasional military coup probably shouldn't live in and/or keep significant amounts of money in such a country. But that's sure going to eliminate a lot of 3rd world/emerging market countries to live in. No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? seems like bendicks is back. No, just a reinvented Yoshiwara with his own peculiar view of things. Link to comment Share on other sites More sharing options...
chiang mai Posted January 16, 2014 Share Posted January 16, 2014 No. This is not about political conflict per se, it is about a very recent Government attempt to raid the reserves of a Thai bank to pay for financial shortages on the rice scheme. Got it? seems like bendicks is back. No, just a reinvented Yoshiwara with his own peculiar view of things. Just to reaffirm Midas that you're kinda weird too with all that zerohedge stuff. Link to comment Share on other sites More sharing options...
Popular Post 54321 Posted January 16, 2014 Popular Post Share Posted January 16, 2014 My 79 baht is staying it in Kung Thai, but I do worry about the 156 baht in Bangkok bank 3 Link to comment Share on other sites More sharing options...
54321 Posted January 16, 2014 Share Posted January 16, 2014 My 79 baht is staying in Kung Thai bank. Seriously, if it causes you concern then move it. Link to comment Share on other sites More sharing options...
Suradit69 Posted January 16, 2014 Share Posted January 16, 2014 My 79 baht is staying it in Kung Thai, but I do worry about the 156 baht in Bangkok bank Kung Thai 1 Link to comment Share on other sites More sharing options...
ExpatJ Posted January 17, 2014 Share Posted January 17, 2014 Google 'IMF' 'Wealth Tax'- and learn about the IMF paper released recently which is recommending that EU govts consider a 10% tax on all private bank accounts - a one off measure to pay off govts debts. I think Thai banks are safer right now. 1 Link to comment Share on other sites More sharing options...
meand Posted January 17, 2014 Share Posted January 17, 2014 What percentage do you get in Norway? I would base my decision entirely on that. If this is something that makes you worry, and lose sleep at night, I think it is better to put it in a Norway bank though. Link to comment Share on other sites More sharing options...
Naam Posted January 17, 2014 Share Posted January 17, 2014 Google 'IMF' 'Wealth Tax'- and learn about the IMF paper released recently which is recommending that EU govts consider a 10% tax on all private bank accounts - a one off measure to pay off govts debts. I think Thai banks are safer right now. the lukewarm fart released is not an IMF paper but a paper released by two IMF employees. the IMF mentions explicitly that these kind of "working papers" are not identical with the views of the IMF. moreover, the paper does not deal with the EU only but refers to a global solution. nobody with a minimum of common sense thinks this tax can be implemented. 1 Link to comment Share on other sites More sharing options...
ExpatJ Posted January 17, 2014 Share Posted January 17, 2014 (edited) . Edited January 17, 2014 by ExpatJ Link to comment Share on other sites More sharing options...
Popular Post ExpatJ Posted January 17, 2014 Popular Post Share Posted January 17, 2014 (edited) Google 'IMF' 'Wealth Tax'- and learn about the IMF paper released recently which is recommending that EU govts consider a 10% tax on all private bank accounts - a one off measure to pay off govts debts. I think Thai banks are safer right now. the lukewarm fart released is not an IMF paper but a paper released by two IMF employees. the IMF mentions explicitly that these kind of "working papers" are not identical with the views of the IMF. moreover, the paper does not deal with the EU only but refers to a global solution. nobody with a minimum of common sense thinks this tax can be implemented. "nobody with a minimum of common sense thinks this tax can be implemented." That's what they were saying in Cyprus before, er, it happened. But i do admire your innocent view that governments would never do such a thing (apart from Cyprus it seems ;-) Edited January 17, 2014 by ExpatJ 4 Link to comment Share on other sites More sharing options...
DiamondKing Posted January 17, 2014 Share Posted January 17, 2014 Google 'IMF' 'Wealth Tax'- and learn about the IMF paper released recently which is recommending that EU govts consider a 10% tax on all private bank accounts - a one off measure to pay off govts debts. I think Thai banks are safer right now. the lukewarm fart released is not an IMF paper but a paper released by two IMF employees. the IMF mentions explicitly that these kind of "working papers" are not identical with the views of the IMF. moreover, the paper does not deal with the EU only but refers to a global solution. nobody with a minimum of common sense thinks this tax can be implemented. Tell that to the people of Cyprus 2 Link to comment Share on other sites More sharing options...
chiang mai Posted January 17, 2014 Share Posted January 17, 2014 You only think that because apparently you don't have the minimum amount of common sense! Link to comment Share on other sites More sharing options...
pitchag Posted January 17, 2014 Share Posted January 17, 2014 Why would they raid bank accounts can't they just print some more money they must have a good gold reserve here, just raid the temples they have heaps of the stuff Link to comment Share on other sites More sharing options...
recycler Posted January 17, 2014 Share Posted January 17, 2014 My opinion is to do whatever helps you sleep better at night. Sleeping pills ? Or get drunk! Link to comment Share on other sites More sharing options...
Suradit69 Posted January 17, 2014 Share Posted January 17, 2014 Considering what's going on in Europe these days, I feel more confident in keeping money in Thailand. Deciding about the safety of your money should be based on reality, not some long standing myth about the security of US and European investment institutions. Europe strikes deal to push cost of bank failure on investors BY JOHN O'DONNELL AND ROBIN EMMOTT BRUSSELS Thu Jun 27, 2013 5:40am EDT (Reuters) - The European Union agreed on Thursday to force investors and wealthy savers to share the costs of future bank failures, moving closer to drawing a line under years of taxpayer-funded bailouts that have prompted public outrage. The rules break a taboo in Europe that savers should never lose their deposits, although countries will have some flexibility to decide when and how to impose losses on a failing bank's creditors. After seven hours of late-night talks, finance ministers from the bloc's 27 countries emerged with a blueprint to close or salvagebanks in trouble. The plan stipulates that shareholders, bondholders and depositors with more than 100,000 euros ($132,000) should share the burden of saving a bank. The deal is a boost for EU leaders, who meet later on Thursday in Brussels, and can show that they are finally getting to grips with the financial crisis that began in mid-2007 with the near collapse of Germany's IKB. http://www.reuters.com/article/2013/06/27/us-eu-banks-idUSBRE95Q02L20130627 1 Link to comment Share on other sites More sharing options...
SheungWan Posted January 17, 2014 Share Posted January 17, 2014 Google 'IMF' 'Wealth Tax'- and learn about the IMF paper released recently which is recommending that EU govts consider a 10% tax on all private bank accounts - a one off measure to pay off govts debts. I think Thai banks are safer right now. the lukewarm fart released is not an IMF paper but a paper released by two IMF employees. the IMF mentions explicitly that these kind of "working papers" are not identical with the views of the IMF. moreover, the paper does not deal with the EU only but refers to a global solution. nobody with a minimum of common sense thinks this tax can be implemented. Tell that to the people of Cyprus Presumably that wouldn't be the Cyprus that had happily turned itself into an offshore dump for no questions-asked black money feed from Russia, then used it to buy rubbish bonds from Greece before the Greek roll-over and certainly not Northern Cyprus. 2 Link to comment Share on other sites More sharing options...
SheungWan Posted January 17, 2014 Share Posted January 17, 2014 Considering what's going on in Europe these days, I feel more confident in keeping money in Thailand. Deciding about the safety of your money should be based on reality, not some long standing myth about the security of US and European investment institutions. This would be one of those 'Up To You' moments. Link to comment Share on other sites More sharing options...
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