Govt To Ask 33 Banks For Rice Money Loans

[Robby nz]

why not loan money from those international bankers?

I think they have been more or less asked through the bond sales.

If they had been interested then the bond offers would have been fully subscribed rather than about a third taken up at over market rate.

[Old Man River]

why not loan money from those international bankers?

I think they have been more or less asked through the bond sales.

If they had been interested then the bond offers would have been fully subscribed rather than about a third taken up at over market rate.

Market rate is on the rise. Also, there is a big question as to whether gov't has the authority, in Caretaker status, to issue bonds greater than previously authorized before they became a Caretaker government. Depending on tenor of the bonds (I.e. if for long term), commercial bankers probably wouldn't have been involved anyway, as these are capital market products.

Sent from my iPad using Thaivisa Connect Thailand

[SOTIRIOS]

.....begging...???....

...does this temporary government even have the right...after all the money that has disappeared at their hands...

..but it does not seem like anyone will stop them.......who would want to face their hired assassins.....

[BWPattaya]

Perhaps it would actually benefit some of us. Borrow a large amount from the banks, repeat the Asian Financial Crisis of 1997 and we are back to 95 Bt to the GBP.

Edited January 28, 2014 by BWPattaya

[Anon999]

Maybe we should just all donate our Thai bank accounts to the govt....help a struggling govt out--NOT!!!

Suthep doesn't like foreigners. Maybe he can arrange to "seize the assets" (all the 800K deposits) of retirees in LOS when he seizes YL assets. That might pay off a few farmers, eh?

This would be especially appropriate for the TV Suthep supporters.

I assume you have already donated your assets to help pay the farmers?

[Old Man River]

Maybe we should just all donate our Thai bank accounts to the govt....help a struggling govt out--NOT!!!

Suthep doesn't like foreigners. Maybe he can arrange to "seize the assets" (all the 800K deposits) of retirees in LOS when he seizes YL assets. That might pay off a few farmers, eh?

This would be especially appropriate for the TV Suthep supporters.

I assume you have already donated your assets to help pay the farmers?

Given taxes will ultimately pay the farmers and the largest amount of taxes collected are in the form of VAT, all of us that pay VAT have donated to pay the farmers. OK, maybe Thakin hasn't given he lives in Dubai.

Sent from my iPad using Thaivisa Connect Thailand

[rogerdee123]

The run on the Thai banks is about to begin.

[tonneke breda]

Oh boy, Suthep will be steaming tonight...

You will be the first I'll be going after……..

[Old Man River]

The run on the Thai banks is about to begin.

Why?

Sent from my iPad using Thaivisa Connect Thailand

[aimbc]

Oh boy, Suthep will be steaming tonight...

Maybe...but I don't think so. Either way, if they do get the loan, they are risking breaking the election law and they will be disqualified for the election. If they don't get the loan, they are screwed by the farmers. But at the end, when all said and done, they are screwed anyway as investigation into the rice scheme will put some in jail including YS. That is how democracy works.

I thought they had already dismissed charges against Yingluck some thing to do with she didn't know what was happening.

She has a good argument against charges if she uses she doesn't know what is happening as her defense.

Yes she does have that I didn't know defense. But they will hit her with dereliction of duty as the PM and Chairperson. Which is clear as bell. The first year, the project was already in danger and she did nothing to get to the bottom of it. Basically, she got left holding the bag while everyone will scatter away.

[love1012]

Oh boy, Suthep will be steaming tonight...

Yes of course he will - but what an enbarrasing Government you support!!

[oldthaihand99]

Thaksin installed the B30 scheme without sufficient funding, that's why the hospitals were running out of money, and why the funding was increased. The B30 levy cost more than B30 to administer, that's why it was dropped, and it was re-instated because that was Thaksin's plan, no one else allowed to claim input.

try reading more than the red rags, you will learn much more.

All you will "learn" is more opinions, which are always biased, and a fraction of the facts, at best.

If you intimating that anything in that post was incorrect, please fell free to correct me.

Feel free to try to prove your opinions are better or less biased than those you responded to.

[NeverSure]

Actually not that necessary to borrow money for thai gov. Thailand is a big US treasury bonds holder. More that 50 billions USD on that <deleted>. Uncle Sam might not be happy as well as american taxpayers.

It is a bit curious that they would seek loans when they have cash on hand......

We covered this. The US dollar is the international unit of trade. Thailand is big in import/export, doing billions of dollars of trade with the US alone, and much more with other countries.

Any country that doesn't have enough US dollars on hand to cover its trades is out of business. This is also the real reason that China holds even a larger amount in US bonds. Its trade with the US alone is enormous.

Thailand can't divest itself of its US dollars.

[oldthaihand99]

Maybe we should just all donate our Thai bank accounts to the govt....help a struggling govt out--NOT!!!

Suthep doesn't like foreigners. Maybe he can arrange to "seize the assets" (all the 800K deposits) of retirees in LOS when he seizes YL assets. That might pay off a few farmers, eh?

This would be especially appropriate for the TV Suthep supporters.

I assume you have already donated your assets to help pay the farmers?

I'll donate the billions stolen from TS.

Edited January 28, 2014 by oldthaihand99

[Robby nz]

Maybe we should just all donate our Thai bank accounts to the govt....help a struggling govt out--NOT!!!

Suthep doesn't like foreigners. Maybe he can arrange to "seize the assets" (all the 800K deposits) of retirees in LOS when he seizes YL assets. That might pay off a few farmers, eh?

This would be especially appropriate for the TV Suthep supporters.

I assume you have already donated your assets to help pay the farmers?

I'll donate the billions stolen from BY TS.

However some truth slowly emerges, As reported elsewhere from the finance ministry :

They plan to use (transfer) the budget set for infrastructure investment to pay the farmers.

That would be the 2.2 trillion, if they ever get it

[Thai at Heart]

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.

Lower is better, but debt is all about the ability to service it first and foremost.

We all know Germany is a far better bet here despite Thailsnd's debt according to this chart is half. Then there are the unknowns, the future. Germany is solid and predictable. Thailand, especially if this things blows up will start looking like a venal cleptocracy without a future. If Bangkok burns again, the Japanese will go.

???

On a percentage basis, lower is better. No other way to cut it. This is being serviced also with already low taxes in comparison with these other countries.

[tsnyder]

However some truth slowly emerges, As reported elsewhere from the finance ministry :

They plan to use (transfer) the budget set for infrastructure investment to pay the farmers.

That would be the 2.2 trillion, if they ever get it

It would solve everything to saddle the next two generations paying over the 50 year span of the loan in order to pay the farmers now.

Quite the legacy.

Edited January 28, 2014 by tsnyder

[Old Man River]

Actually not that necessary to borrow money for thai gov. Thailand is a big US treasury bonds holder. More that 50 billions USD on that &lt;deleted&gt;. Uncle Sam might not be happy as well as american taxpayers.

It is a bit curious that they would seek loans when they have cash on hand......

We covered this. The US dollar is the international unit of trade. Thailand is big in import/export, doing billions of dollars of trade with the US alone, and much more with other countries.

Any country that doesn't have enough US dollars on hand to cover its trades is out of business. This is also the real reason that China holds even a larger amount in US bonds. Its trade with the US alone is enormous.

Thailand can't divest itself of its US dollars.

Double post. Sorry mate.

Sent from my iPad using Thaivisa Connect Thailand

Edited January 29, 2014 by Old Man River

[Old Man River]

Actually not that necessary to borrow money for thai gov. Thailand is a big US treasury bonds holder. More that 50 billions USD on that &lt;deleted&gt;. Uncle Sam might not be happy as well as american taxpayers.

It is a bit curious that they would seek loans when they have cash on hand......

We covered this. The US dollar is the international unit of trade. Thailand is big in import/export, doing billions of dollars of trade with the US alone, and much more with other countries.

Any country that doesn't have enough US dollars on hand to cover its trades is out of business. This is also the real reason that China holds even a larger amount in US bonds. Its trade with the US alone is enormous.

Thailand can't divest itself of its US dollars.

USD's are easy to get. If you think the price of the rice will fall further, you can buy the rice and the USD's through the forward markets, paying THB or another currency, but there is a cost involved and the value via a vis another currency is usually the differences in interest rates. If you are buying at spot, you buy dollars through any treasury at today's rate, deliverable in 2 days. It is all about cost,but banks create dollars through the swap markets. USD's are easily available at spot or through the swap markets.

Thailand can swap out the currencies in its reserves from one currency to another, but it isn't advisable. The USD is still the choice trading currency regardless of what is being bought and sold.

Sent from my iPad using Thaivisa Connect Thailand

[heina]

Actually not that necessary to borrow money for thai gov. Thailand is a big US treasury bonds holder. More that 50 billions USD on that &lt;deleted&gt;. Uncle Sam might not be happy as well as american taxpayers.

It is a bit curious that they would seek loans when they have cash on hand......

We covered this. The US dollar is the international unit of trade. Thailand is big in import/export, doing billions of dollars of trade with the US alone, and much more with other countries.

Any country that doesn't have enough US dollars on hand to cover its trades is out of business. This is also the real reason that China holds even a larger amount in US bonds. Its trade with the US alone is enormous.

Thailand can't divest itself of its US dollars.

US treasury bonds is low rate credit for US economic and source for USD emission. Without it USA cant spend billions for wars all over the worlds, farmers subsudy, pensions and households consumption which is higher then household earnings. That is why need to keep USD as a trade currency and force others to buy US treasury bonds. Otherwise they can continue Iraq story and so on.

Well situation slowly changes and some countries like China, Japan, Russia etc begun to conclude agreements in their own currency as there is no faith on US treasury bonds any more.

Edited January 29, 2014 by heina

[Old Man River]

Maybe we should just all donate our Thai bank accounts to the govt....help a struggling govt out--NOT!!!

Suthep doesn't like foreigners. Maybe he can arrange to "seize the assets" (all the 800K deposits) of retirees in LOS when he seizes YL assets. That might pay off a few farmers, eh?

This would be especially appropriate for the TV Suthep supporters.

I assume you have already donated your assets to help pay the farmers?

I'll donate the billions stolen from TS.

YL is waiting for it. If you have any left over, donate it to charity(your choice).

Sent from my iPad using Thaivisa Connect Thailand

[heina]

Actually not that necessary to borrow money for thai gov. Thailand is a big US treasury bonds holder. More that 50 billions USD on that &lt;deleted&gt;. Uncle Sam might not be happy as well as american taxpayers.

It is a bit curious that they would seek loans when they have cash on hand......

We covered this. The US dollar is the international unit of trade. Thailand is big in import/export, doing billions of dollars of trade with the US alone, and much more with other countries.

Any country that doesn't have enough US dollars on hand to cover its trades is out of business. This is also the real reason that China holds even a larger amount in US bonds. Its trade with the US alone is enormous.

Thailand can't divest itself of its US dollars.

US treasury bonds is low rate credit for US economic and source for USD emission. Without it USA cant spend billions for wars all over the worlds, farmers subsudy, pensions and households consumption which is higher then household earnings. That is why need to keep USD as a trade currency and force others to buy US treasury bonds. Otherwise they can continue Iraq story and so on.

Well situation slowly changes and some countries like China, Japan, Russia etc begun to conclude agreements in their own currency as there is no faith on US treasury bonds any more. As US debt finance form new debt as budget is unprofitable and soon all later all taxes goes for Treasury bonds interest payments. Thats all is Ponzzi scam.

Edited January 29, 2014 by heina

[bunnydrops]

I think if Thailand would put money into fixing the roads, trains, water systems instead of putting bandages on everything the figure for Thailand would be much higher. I haveen't seen a repaving of a road since I have been here that didn't have potholes within a week. Like an old car. It costs nothing if you don't fix the small problems, but you may not have the money to fix it when it stops running.

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.

Lower is better, but debt is all about the ability to service it first and foremost.

We all know Germany is a far better bet here despite Thailsnd's debt according to this chart is half. Then there are the unknowns, the future. Germany is solid and predictable. Thailand, especially if this things blows up will start looking like a venal cleptocracy without a future. If Bangkok burns again, the Japanese will go.

???

On a percentage basis, lower is better. No other way to cut it. This is being serviced also with already low taxes in comparison with these other countries.