Govt To Ask 33 Banks For Rice Money Loans

[Bluespunk]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

Wrong on this point yet again. Payment was due in October. October!

[SamMunich]

No banker in his right mind will loan the government a penny.

First it might be illegal, but more important the government has nothing but sweet words as a guarantee to pay the money back later. What if the next government says they don't care about the old governments promises to pay up? There is only risk involved on the banker's side and very little to be earned.

Basically the government is bankrupt, because it overspent what they had as budget and now they are not allowed to raise new funds by borrowing.

Somebody should have told Taksin before he agreed to have the pariament dissolved. Now he's in a rut...

[BlueNoseCodger]

If this is true then Thailand is in really deep crap. Rob from Peter to pay Paul? Where has the money gone from the countries treasury? Yingluck will need to be called forward and explain where it has all gone! This is not about reds or yellows but about the point that she has to account for the money that does not exist and where the hell did it go and more likely whos pockets it went into!

Right, this is not about reds and yellows... as if!

She replaces a farm subsidy with a rice program. Government gets a rice reserve, the farmers still get their money. The dems and their cronies block all the financing for it, pretend its bankrupting the country, pretend its all corrupt and a scam and use it as an excuse to try to seize power. The usual political blah blah blah of propaganda.

Sounds like the 30 baht healthcare again?

Thaksin put the 30 baht healthcare scheme, the Democrats screamed it was bankrupting hospitals. They have hospitals close their doors to block the scheme, "it is such a catastrophy" they scream! "He's buying poor people votes by bankrupting the hospitals!" Neglecting to mention the 1500 baht per person the government pays for each person in the catchment area.

Then once the coup takes power, the Generals drop the 30 baht charge, and adjust the 1500 to 1800 baht, keeping the scheme intact because it made sense.

When the Democrats get into power by their usual dodgy route, they keep the scheme too, because its good, and popular and the hospitals get most of their income from it and don't want to lose it.

Then Yingluk gets into power, puts back in the 30 baht/visit charge to prevent timewasters using hospital resources needlessly, and now the Democrats pretend the 30 baht scheme was theirs and they oppose the increase in 30 baht! Yet only a few years ago, Democrats were trying to block the whole scheme because it was a disaster that would bankrupt the hospitals!

Well good for you and your lying politicians. Good to see they have you fooled and everyone has such a short memory. It's a pity alzheimers doesn't have a cure because now you can afford to go to hospital to get it treated!

The farmers grow your rice, and the next crop needs fertilizer that is expensive and needs to be paid for. So if the banks will lend the famers money, either directly or indirectly, against their unpaid rice sales, then they get to grow the rice and Thailand gets to eat.

When the yellows stop their scummy political games, the rice pledge scheme will no doubt need tweaking. It's created a bigger rice reserve than is needed, and the shortages in the world have eased and the sale price dropped. Well so what! It will get tweaked, but not by you Dems, because you took yourselves outside of democracy.

Edited January 27, 2014 by BlueNoseCodger

[petedk]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

What a load of rubbish.

The money should have been paid four months ago. Long before Suthep started all this.

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[citizen33]

Is government debt now so much worse than in the past?

<iframe src='http://www.tradingeconomics.com/iframe/chart.aspx?url=/thailand/government-debt-to-gdp' height='350' width='700' frameborder='0' scrolling='no'></iframe><br />Source: <a href='http://www.tradingeconomics.com/thailand/government-debt-to-gdp' target='_blank'>tradingeconomics.com</a><br />

To get a better view, set the start date on the graph to 1997. Also click 'forecast' and then select 'trend'.

Edited January 27, 2014 by citizen33

[TVGerry]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

Wrong on this point yet again. Payment was due in October. October!

He's wrong on the facts most of the time but he never lets facts get in the way of his bad arguments.

[looping]

Talking of the rice pledging scheme, has the govt outlined any policies for the upcoming 'election'?

Guess not, no one is asking, and why would they?

I wonder if they plan to carry on with this particular policy, I guess it's worked out for them on a personal level.

[djjamie]

Good business sense put it out to the competitive market...

I'm sure a lot will be whining but at least they are trying to get the farmers paid for what they have already sold on promise.

I see a lot of posters hating the idea of for some reason and have no idea why they would wish hardship on hard working farmers. They deserve to be paid in full asap imo.

You should have told the PTP that on September the 3rd when they approved 270 billion baht to cover the 2013 - 2014 rice pledging season that stops on the 28th of February. Then reminded them at the start of October when they started not getting paid. Then reminded them again after their 3rd broken promise on the 25th of January. Now remind them again while they beg to borrow money from banks that are worried they will be a bad investment while breaking the law that stipulates they cannot do financial transitions in caretaker mode.

Then again, you didn't need to remind them because the DEMS warned them that this is exactly what would happen when Yingluck flip flopped on her reduced price pledge.

So yes, they most definitely deserve to be paid in full. They deserved it 4 months ago!

[Bluespunk]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

So, basically ..the farmers are not being paid thanks to Suthep.

So why haven´t the farmers been paid since Oktober? Why didn´t the PTP paid the money before they become a caretaker government? Simple, they have run out of money.

I believe that some farmers have been paid.

Why not pay already? Maybe something to do with Suthep's crowd blocking sale of rice, etc?

Run out of money? You mean YL, the other ministers, army, police, etc, are working for free? The government has no billions & trillions allocated to things like flood control & infrastructure, that could be used to pay the farmers, apart from red tape & BS, etc, blocking them from doing so?

Please tell me where any rice sales have been blocked by the protesters.

The farmers haven't been paid because this scheme has utterly failed and there is no money to pay them.

I would like to see the farmers paid, farming a a tough life as it is, but this PT govt has destroyed Thailand's rice industry and has no money coming in from rice sales to meet its obligations.

They have betrayed their core support.

[BlueNoseCodger]

Is government debt now so much worse than in the past?

<iframe src='http://www.tradingeconomics.com/iframe/chart.aspx?url=/thailand/government-debt-to-gdp' height='350' width='700' frameborder='0' scrolling='no'></iframe><br />Source: <a href='http://www.tradingeconomics.com/thailand/government-debt-to-gdp' target='_blank'>tradingeconomics.com</a><br />

To get a better view, set the start date on the graph to 1997.

No it isn't.

UK Debt / GDP is 91%

Germany 82%

Thailand 45%

Lower is better.

[mrtoad]

No bank in their right mind is going to loan this administration a dime, unless it can secure it against assets. These criminals will sell out the country to line their own pockets.

Absolute BOCs

[Briggsy]

What Thailand needs is another strong dose of IMF.

[Scamper]

The worst, most extensive and most corrupt programme ever conceived and administered by any government in Thailand - under current investigation by the NACC in charges that could result in the disbandment of Pheu Thai over an export deal to China that never took place, Constitution Court hearings which are now all but inevitable, forbidden to collect monies from the EC, under fierce resistance from the banks themselves - Phue Thai decides to proceed, as they now continue to plunder - during an election campaign - the resources of government institutions - in effect a form of administerial hold-ups - in order to yet again buy votes. As the EC ruled that such payments would be considered altering an election ( with obvious reason, as that is precisely and nakedly the attempt and the motive - but the argument goes, if you are Pheu Thai, is that you can allocate whatever your heart desires. So how is Pheu Thai able to go ahead with this ? The " legal advisors " to Pheu Thai that have stood them in such good stead - their recommendation of the amnesty bill was one such instance of brilliance - and the Thai Council of State - which is a body that historically works under the prime minister, say they can. And so the Bonnie and Clyde bank heists are afoot, with unconscionable monies being amassed in a scheme that adds more misery to the rice market each year. The rice scheme has singlehandedly turned the leading, proud premier exporter of rice in the world into an exporter that sets such an unrealistically high price that nobody is interested in buying it. The result is huge, huge stores of rice that never get sold and become inedible. So if anyone truly wants to know why this is a bad idea, that is it. But if you are Pheu Thai, and you want to survive impeachment cases - it is suicidal.

[northernjohn]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

The rubbish that comes out of your mouth beggars belief sometimes.

If this Govt had enough money to pay they would NOT be seeking new loans. Simple. The money is not there due to corruption, theft and the basic fact that it was a stupid policy to begin with and was always going to lose money. Taxpayer money, mine included. What do you think part of what these protests have been about for the past few months?

They are a caretaker Govt and have no legal right to take out any further debt burden.

Robbing Peter to pay Paul helps no one at this point.

If they could be bothered with a compromise (which would be a first in the history of any Thaksin led Govt), they could have talked to the EC and the opposition and asked for their agreement to a temporary loan to cover these initial payments due.

Some people are completely clueless and others just plain lights on no one home. Then there is a small percentage of people in the advertising business who get paid to make things up.

This Government is so financially irresponsible that it borders on Stupidity. Maybe beyond that. We know they are corrupt.

First they shift a huge payment off to the BOT to make room for more loans. Then they go and buy rice at a high price and sell it at a low price and after two and a half years of losing money at it have to borrow more money to pay the farmers. In other words they can't afford it but they make an announcement that they are going to continue on with it. Now they want to borrow another 2.2 trillion baht. All this in two and a half years.

They should except Suthep's plan as a way to back out of the havoc they have caused and intend to keep causing. It would allow them to save face. After all there is nothing wrong with wanting a more honest and open government. Other than a red shirt and a PTP member who would object to that.

The money was due long before Suthep came on the scene and before Yingluck dissolved the house. But as I said earlier there are some segments of the society who for one reason or another could care less about the truth.

[manwithai]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

IQ 15..., at most!

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[MacWalen]

And the answer is NO!!!!!!!!! Totally insane. And later you wonder why politicians are so disrespected in Thailand. They must know what they do is bad. Just return those greedy farmers their rice. This is acceptable. There must be a lesson in it for the farmers too!

[Skywalker69]

bbk.jpgkas.jpgktb.jpgscb.jpgtmb.jpg

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The Caretaker government have gone into.

[MacWalen]

And the answer is NO!!!!!!!!! Totally insane. And later you wonder why politicians are so disrespected in Thailand. They must know what they do is bad. Just return those greedy farmers their rice. This is acceptable. There must be a lesson in it for the farmers too!

[BlueNoseCodger]

No bank in their right mind is going to loan this administration a dime, unless it can secure it against assets. These criminals will sell out the country to line their own pockets.

Absolute BOCs

If I'm owed 50,000 baht by the government, I have an asset worth 50,000 baht that has the same quality as any other government debt. So a farmer can simply borrow against his givernment debt, no different than borrowing against a government bond.

Edited January 27, 2014 by BlueNoseCodger

[northernjohn]

Good business sense put it out to the competitive market...

I'm sure a lot will be whining but at least they are trying to get the farmers paid for what they have already sold on promise.

I see a lot of posters hating the idea of for some reason and have no idea why they would wish hardship on hard working farmers. They deserve to be paid in full asap imo.

You are absolutely right.

As I understand it most of the money was due in October. They took the rice then and here we are three months later and they say we are going to try to borrow the money to pay for it. But keep on growing it because we are going to keep on buying it at an inflated price that we can not afford to pay.

Why did they wait three months to say we are going to try to borrow the money? Why did they not borrow it when it was due?

Also I believe that some of the unions are against the bank's loaning the money.

I think I got it right. Feel free to correct me if I am wrong.

[mrtoad]

No bank in their right mind is going to loan this administration a dime, unless it can secure it against assets. These criminals will sell out the country to line their own pockets.

Absolute BOCs

If I'm owed 50,000 baht by the government, I have an asset worth 50,000 baht that has the same quality as any other government debt. So a farmer can simply borrow against his givernment debt, no different than borrowing against a government bond.

But the figures don't add up, but the debts are mounting.

Tis nothing but plunder. Arrrrgghh.

[WhizBang]

Let us sincerely hope that all 33 banks tell this government to FO.

[Old Man River]

Good business sense put it out to the competitive market...

I'm sure a lot will be whining but at least they are trying to get the farmers paid for what they have already sold on promise.

I see a lot of posters hating the idea of for some reason and have no idea why they would wish hardship on hard working farmers. They deserve to be paid in full asap imo.

I agree. Nobody should wish people to be murdered, nor hardships on people. Still, you read here where people do. I will never understand it.

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[Bluespunk]

No bank in their right mind is going to loan this administration a dime, unless it can secure it against assets. These criminals will sell out the country to line their own pockets.

Absolute BOCs

If I'm owed 50,000 baht by the government, I have an asset worth 50,000 baht that has the same quality as any other government debt. So a farmer can simply borrow against his givernment debt, no different than borrowing against a government bond.

Except the banks won't lend to them and many are resorting to loan sharks. Why should they have to borrow anyway? The govt took their rice so they should pay up. Problem is, they can't because they can't sell the rice they bought at ludicrous prices.

[WhizBang]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

This has zip to do with Suthep. It has everything to do with very very poor planning by this government.

Nice try at deflection, though.

[PeVee1st]

Where did all the money go or, how did TS's wealth inc.by 45% during the PTP Era????????????????

That is the question, my dear YL?????

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[mrtoad]

The Shinafia will stop at nothing to get hold of as much money for themselves before its all over and they are forced into exile.

This is plunder on a massive scale.

Edited January 27, 2014 by mrtoad

[englishoak]

Where did all the money go or, how did TS's wealth inc.by 45% during the PTP Era????????????????

That is the question, my dear YL?????

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it didnt he had 1 billion returned of his frozen assets last year... have a look at forbes the top 10 thais nearly all doubled their worth in the past year alone. Its called physical stimulus and money printing and the effect on the wealth the top 1%

[northernjohn]

The government has enough money. They just can't access it because the government is in "caretaker" mode due to the elections.

So, basically ..the farmers are not being paid thanks to Suthep.

So, basically ..the farmers are not being paid thanks to Suthep.

So why haven´t the farmers been paid since Oktober? Why didn´t the PTP paid the money before they become a caretaker government? Simple, they have run out of money.

You are trying to reason with some one who for one reason or another is not interested in the truth. As you say they did not pay it when they were in power. They also said that they were going to continue with the plan.

Even though they couldn't afford it they were going to continue with the plan.

They then realized that they were making irrational promises on top of one's they could not carry out and dissolved the house in the hopes that some sucker would come along and say they can't pay the bill because of some one else.

Sure enough along comes a sucker and swallows the line hook line and sinker.

Like P T Barnum said there's a sucker born every minute.

Now who is the sucker the poster or us for biting on a troll post?

[Chao Lao Beach]

B4 or after the Coup ?