Thai banks say why they reject rice loan auction

[fleeing]

"He suggested that the caretaker government solve the problem for rice farmers through short term solutions during the period where the prices of produce are lower than expected. He also said both the Pheu Thai Party’s rice pledging scheme and Democrat Party’s price guarantee scheme should be scrapped because they were proved to be failed policies"

Look at the bold type there. this proves it is not just ONE party's fault.

Apples and oranges.

No agricultural subsidy scheme anywhere is going to be without faults, but at least under the Democrats the farmers got paid and not just the scammers.

[gabruce]

Meanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmedMeanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmed the government understands and sympathizes with the farmers for the delay of payments.

the government understands and sympathizes with the farmers for the delay of payments. But we had to send Thaksin 30,000,000,000 baht, so we don't have the money. Please try to understand, we are not in charge, we are only tools in the hands of the master. We are not capable of using our own minds, i guess you could call us puppets.

.....

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

It comes from good old Forbes, not from Sondhi.

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

Now that's the right way to reply! Details and no vitriol. Thank you.

[smileydude]

This article is rather short of explanations from banks as to why they didn't participate, despite its title. Kosit is executive chairman of Bangkok Bank.

"TDRIs Research Director Viroj Na Ranong pointed out that although the government should sell as much rice in stock as they can, but it could not carry on with the method indefinitely, as the problem would become more complicated."

What on earth does this mean?

"Minister of Commerce Niwatthamrong Boonsongpaisarn said the government has released into the market over 1 million tonnes of rice in stock in the past month, and was stopped short when parliament was dissolved, since the caretaker government could no longer carry out any projects that would commit the new government."

He doesn't explain why the government defaulted on its obligations to the farmers in October before the protests started.

Basically a non-article.

I think what he means is that the government needs to raise the money to pay back farmers by selling unsold rice stocks at MARKET rates instead of trying to solve the problem by taking out loans which eventually will require taking taxpayers money meant for other things to pay back the loans. Basically passing the buck onto us for their incompetence.

Thaksin thought in all his cleverness that he could manipulate world rice prices by hoarding millions of tons of rice and when demand was beyond supply he could sell them at inflated prices. Of course he wanted to make commission on top of his scheme and at the same time guarantee high rice prices for farmer = votes.

He forgot that India, Vietnam and other rice producing countries did not need to play by his rules thus they upped their production and world rice prices fell below the estimated 15,000 baht/ton. Now the government needs to sell the rice at market rates of 9000 baht/ton which is better then letting the stocks rot in storage as advised by TDRI but they knew that if they did that they would not gain any profits and hardly raise enough money to pay off all the farmers (even though the guaranteed price to farmers was about 7500 baht/ton) with the remaining 7500 baht to be shared among those colluding in the scheme. They are holding on to the rice stocks out of greed and to hide their losses but rice has a limited shelf life unlike other commodities so Thakky made a bad miscalculation. Thaksin is setting up the Ministry of Finance and his own sister for the fall as he knows of the legal implications. Of course he is scot free of all responsibilities. Way to save your own hide bro.

[HerbalEd]

These banks are not stupid. Legalities aside, why should they trust the government will be able to pay them back ? That's what the rice farmers did, and look what happened to them.

[Muhendis]

The problem seems to be that the Thai Government based their scheme on being able to manipulate the international market. By withholding sale of your superior product, demand will rise and you make a killing. In short the government gambled with the farmers rice ......... and lost to India. The money that the government had hoped to make never happened and never will. That is why the banks are nervous about lending to the government. They do not trust the politicians. Politicians do not make good business people and, it seems, this lot are not so good at running the country either. "In God I trust, all others pay cash". A very true tongue in cheek I think.

[Mosha]

"But we had to send Thaksin 30,000,000,000 baht,"

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

It comes from good old Forbes, not from Sondhi.

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

As usual, never a "thank you for enlightening me ... sorry, you're right, I'm wrong" from fabbie; he just throws in his incorrect ten cents worth and then runs off to another topic to post more nonsense...!

And the new red posters are using the report button likes it is there new best friend

[movsrus]

Simple fix. Devalue the Thai baht by 20% and dump all the rice on the market. Vietnam and India can't handle that kind of competition and soon the money will be flowing into the country from sales of all the rice that is supposed to be stored in the warehouses around the country. Two problems might be that the rice that is supposed to be stored is far less than the government has said (fat rats abound near the warehouses- both the two and four legged varieties) and the eventual effect of a sudden depreciation of the currency will have marked impact on the economy.

By the time the shit hits the fan, Yingluck will be long gone and Thaksin will be back in power with his cronies and they can paper the whole thing over. Short term benefit will be to the ex-pats who will bring foreign currency into the country and buy the baht making up for the beating many took last year on the exchange rate.

[tingtongteesood]

Meanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmedMeanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmed the government understands and sympathizes with the farmers for the delay of payments.

the government understands and sympathizes with the farmers for the delay of payments. But we had to send Thaksin 30,000,000,000 baht, so we don't have the money. Please try to understand, we are not in charge, we are only tools in the hands of the master. We are not capable of using our own minds, i guess you could call us puppets.

"But we had to send Thaksin 30,000,000,000 baht,"

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

Corruptions and briberies in all sectors have been exponentially on the rise. To win an election, an MP may have to pay up to 30 million bahts (1 million USD) for buying a vote at a rate of one to five hundred bahts (10-15USD) per head. Most politicians get elected because of vote-buying and return their investments in the House by selling themselves to pass biased resolutions supporting the governments particularly votes of confidence or corrupt budget bills. http://www.antithaksin.com/032_Back_History_00.html

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

Actually this was in Forbes magazine and there was even a link posted to it yesterday, google is your friend. I suppose now you are going to try and persuade us how biased and anti Taksin Fortbes magazine must be...?

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

I might say the same about a great many of your spurrious opinion laden rants you try and pass as facts not to mention the rest of the bs that comes from your fellow brainwashed red sheeple. You really should try checking your facts before you start hurling accusations at the more intelligent, well informed and up to date members of this forum...

[MaxLee]

Will the Thaksin-crony government take "No" for an answer?

I bet all my money that they will have their methods to backstab manipulate the bank directors...

Wanna bet???...

[tingtongteesood]

"He suggested that the caretaker government solve the problem for rice farmers through short term solutions during the period where the prices of produce are lower than expected. He also said both the Pheu Thai Party’s rice pledging scheme and Democrat Party’s price guarantee scheme should be scrapped because they were proved to be failed policies"

Look at the bold type there. this proves it is not just ONE party's fault.

Look at your post, it just shows what a brainwashed red sheeple diehard Taksin lover you are. Trying to blame the Dems for the rice scam fiasco because they previously had a rice subsidy scheme. The rest of the post you have conveniently ignored stating that the Dems scheme worked and the farmers got paid and it didn't bankrupt the country whereas the PT fiasco is the complete opposite.

[noodle]

 

This article is rather short of explanations from banks as to why they didn't participate, despite its title. Kosit is executive chairman of Bangkok Bank.

"TDRI’s Research Director Viroj Na Ranong pointed out that although the government should sell as much rice in stock as they can, but it could not carry on with the method indefinitely, as the problem would become more complicated."

What on earth does this mean?

That kind of wording makes it sound like a Ponzi scheme.

[skorchio]

Corruption and delays should be treated separately as they are different issues.

But didnt corruption lead to there being no money with which to pay, which lead to the delays? Which will also lead to, you guessed it, non-payment.

But Farmers please treat them separately ...... you've just been robbed folks.

[Skywalker69]

"But we had to send Thaksin 30,000,000,000 baht,"

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

It comes from good old Forbes, not from Sondhi.

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

As usual, never a "thank you for enlightening me ... sorry, you're right, I'm wrong" from fabbie; he just throws in his incorrect ten cents worth and then runs off to another topic to post more nonsense...!

"returned to him close to $1 billion of his $2.3 billion in frozen assets".

Anyone whom remember? Wasn´t 46 billions confiscated out of his 76 billion and he got to keep 30 billions? Please feel free to correct me if I am wrong.

[Skywalker69]

Meanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmedMeanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmed the government understands and sympathizes with the farmers for the delay of payments.

the government understands and sympathizes with the farmers for the delay of payments. But we had to send Thaksin 30,000,000,000 baht, so we don't have the money. Please try to understand, we are not in charge, we are only tools in the hands of the master. We are not capable of using our own minds, i guess you could call us puppets.

"But we had to send Thaksin 30,000,000,000 baht,"

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

Corruptions and briberies in all sectors have been exponentially on the rise. To win an election, an MP may have to pay up to 30 million bahts (1 million USD) for buying a vote at a rate of one to five hundred bahts (10-15USD) per head. Most politicians get elected because of vote-buying and return their investments in the House by selling themselves to pass biased resolutions supporting the governments particularly votes of confidence or corrupt budget bills. http://www.antithaksin.com/032_Back_History_00.html

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

Actually this was in Forbes magazine and there was even a link posted to it yesterday, google is your friend. I suppose now you are going to try and persuade us how biased and anti Taksin Fortbes magazine must be...?

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

I might say the same about a great many of your spurrious opinion laden rants you try and pass as facts not to mention the rest of the bs that comes from your fellow brainwashed red sheeple. You really should try checking your facts before you start hurling accusations at the more intelligent, well informed and up to date members of this forum...

He is a true Thaksin syber worrior.

[Skywalker69]

Simple fix. Devalue the Thai baht by 20% and dump all the rice on the market. Vietnam and India can't handle that kind of competition and soon the money will be flowing into the country from sales of all the rice that is supposed to be stored in the warehouses around the country. Two problems might be that the rice that is supposed to be stored is far less than the government has said (fat rats abound near the warehouses- both the two and four legged varieties) and the eventual effect of a sudden depreciation of the currency will have marked impact on the economy.

By the time the shit hits the fan, Yingluck will be long gone and Thaksin will be back in power with his cronies and they can paper the whole thing over. Short term benefit will be to the ex-pats who will bring foreign currency into the country and buy the baht making up for the beating many took last year on the exchange rate.

What do you think WTO has to say about that?

[Skywalker69]

"But we had to send Thaksin 30,000,000,000 baht,"

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

It comes from good old Forbes, not from Sondhi.

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

As usual, never a "thank you for enlightening me ... sorry, you're right, I'm wrong" from fabbie; he just throws in his incorrect ten cents worth and then runs off to another topic to post more nonsense...!

And the new red posters are using the report button likes it is there new best friend

[kikoman]

fab4 post # n15

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

Coming from you with your expertise those comments caused me to spill my coffee due to the humour that you introduced to the thread.

I also would like to see the documentation he picked the figure out of that any member of the Government sent to Thaksin S., as with most of the evidence used by the yellows is unsubstantiated,

I personally have had post deleted for not stating the source of the information I posted, It is a very valid point of information.

Cheers

[GeorgeO]

It comes from good old Forbes, not from Sondhi.

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

As usual, never a "thank you for enlightening me ... sorry, you're right, I'm wrong" from fabbie; he just throws in his incorrect ten cents worth and then runs off to another topic to post more nonsense...!

And the new red posters are using the report button likes it is there new best friend

... except that they're not 'new' red posters, they are old posters under new names after having been suspended for their vitriolic posts...!

[3NUMBAS]

they dont mind lending zillions of bahts to their old cronies to build condos that nobody will ever live in and stand empty till the end of time

[TallGuyJohninBKK]

Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

That's an interesting $1 billion tidbit I hadn't seen the news about before.

And it isn't from some column or some quote from an anti-Thaksin type. It's Forbes magazine saying Thaksin himself told them that info some months back.

And now that info is part of Forbes bio profile for Thaksin and his family...

I guess the Thai passport isn't the only thing the Thai government has been returning to him.

The accompanying chart on the Forbes website shows his estimated net worth going from $600 million U.S. in Aug 2012 to $1.7 billion by March 2013, That's a gain of a bit more than $1 billion U.S.

[Rimbuman]

This article is rather short of explanations from banks as to why they didn't participate, despite its title. Kosit is executive chairman of Bangkok Bank.

"TDRIs Research Director Viroj Na Ranong pointed out that although the government should sell as much rice in stock as they can, but it could not carry on with the method indefinitely, as the problem would become more complicated."

What on earth does this mean?

"Minister of Commerce Niwatthamrong Boonsongpaisarn said the government has released into the market over 1 million tonnes of rice in stock in the past month, and was stopped short when parliament was dissolved, since the caretaker government could no longer carry out any projects that would commit the new government."

He doesn't explain why the government defaulted on its obligations to the farmers in October before the protests started.

Basically a non-article.

I think what he means is that the government needs to raise the money to pay back farmers by selling unsold rice stocks at MARKET rates instead of trying to solve the problem by taking out loans which eventually will require taking taxpayers money meant for other things to pay back the loans. Basically passing the buck onto us for their incompetence.

Thaksin thought in all his cleverness that he could manipulate world rice prices by hoarding millions of tons of rice and when demand was beyond supply he could sell them at inflated prices. Of course he wanted to make commission on top of his scheme and at the same time guarantee high rice prices for farmer = votes.

He forgot that India, Vietnam and other rice producing countries did not need to play by his rules thus they upped their production and world rice prices fell below the estimated 15,000 baht/ton. Now the government needs to sell the rice at market rates of 9000 baht/ton which is better then letting the stocks rot in storage as advised by TDRI but they knew that if they did that they would not gain any profits and hardly raise enough money to pay off all the farmers (even though the guaranteed price to farmers was about 7500 baht/ton) with the remaining 7500 baht to be shared among those colluding in the scheme. They are holding on to the rice stocks out of greed and to hide their losses but rice has a limited shelf life unlike other commodities so Thakky made a bad miscalculation. Thaksin is setting up the Ministry of Finance and his own sister for the fall as he knows of the legal implications. Of course he is scot free of all responsibilities. Way to save your own hide bro.

Saved his hide? Naah, by now this Dubai dude has some shit on his shoes and probably don't know where the smell comes from. He has some serious problems now, looks like he never step on Thai soil again ever, and I believe this is a little bit more than he could foresee and he ain't liking it one bit at all.

[3NUMBAS]

Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

That's an interesting $1 billion tidbit I hadn't seen the news about before.

And it isn't from some column or some quote from an anti-Thaksin type. It's Forbes magazine saying Thaksin himself told them that info some months back.

And now that info is part of Forbes bio profile for Thaksin and his family...

I guess the Thai passport isn't the only thing the Thai government has been returning to him.

The accompanying chart on the Forbes website shows his estimated net worth going from $600 million U.S. in Aug 2012 to $1.7 billion by March 2013, That's a gain of a bit more than $1 billion U.S.

t

those sort of figures tally with the Ray Ban wearing monk !

[Basil B]

What a sad state (pun intended) when the government doesn't have the money to pay its own bills.

If I was thinking in an underhand way, I'd wonder if the banks run by Bangkok business people were trying to sabotage the red shirt election voters.

No they have a legal obligation to protect their clients money.

[Muhendis]

What a sad state (pun intended) when the government doesn't have the money to pay its own bills.

If I was thinking in an underhand way, I'd wonder if the banks run by Bangkok business people were trying to sabotage the red shirt election voters.

No they have a legal obligation to protect their clients money.

I think they would be more concerned about their shareholders than their clients.

[Thaiready]

I think the Bankers are yellow.....with a wide yellow streak down their backs

[belg]

give the rice back to the farmers, stop the riceberg, everybody happy ?

[fab4]

fab4 post # n15

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

Coming from you with your expertise those comments caused me to spill my coffee due to the humour that you introduced to the thread.

Calling me a liar again siampolee? Not once have you backed your mouth up with evidence - if you did you might be worthy of some credence.

I would suggest you give up flaming and stick to your "brown nosing acolytes" polemic, it's more you.

[fab4]

Mosha.

Just to help fab4 understand the truth and not his flights of fancy I have posted the start of the article and the link so as fab4 is both reassured and educated as to the truth of the matter and that we are not conducting an embroidery session

Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets. His [...] more

http://www.forbes.com/profile/thaksin-shinawatra/

Wonderful, thanks for explaining that Siampolee. Now lets look at the context of ramrods post:

"Meanwhile, Minister of the Prime Minister’s Office Varathep Ratanakorn affirmed the government understands and sympathizes with the farmers for the delay of payments.

the government understands and sympathizes with the farmers for the delay of payments. But we had to send Thaksin 30,000,000,000 baht, so we don't have the money. Please try to understand, we are not in charge, we are only tools in the hands of the master. We are not capable of using our own minds, i guess you could call us puppets."

Varathep Ratanakorn is the minister of the Prime Ministers Office, the Prime Minister in this case being one Yingluck Shinawatra.

The decision to give 30 billion baht back to Shinawatra was made in February 2010, so it was NOT this government who gave back the 30 billion baht to him.

Therefore the supposed "link" between the delay of payments to the farmers and this government supposedly paying thaksin back 30 billion dollars is pure fabrication

Thaksin Shinawatra stripped of almost £1bn for abuse of power

Court ruling that former PM abused power for personal gain could inflame Thailand's four-year political crisis

Associated Press

theguardian.com, Friday 26th February 2010

The supreme court ruled today that "to seize all the money would be unfair since some of it was made before Thaksin became prime minister".

The verdict brings an end to a case that started after Thaksin was deposed by a 2006 military coup for alleged corruption and abuse of power.............

...............Thaksin, who faces a two-year jail term from an earlier conviction, monitored the proceedings from exile in Dubai, where he provided a commentary via a video link and Twitter.

"This is total political involvement. The government knew the result in advance," Thaksin said shortly after the verdict. "I've been prepared for the result since yesterday. I knew that I would get hit, but they are kind enough to give me back 30 billion [baht]."

http://www.theguardian.com/world/2010/feb/26/thaksin-shinawatra-abuse-power-ruling

Victory in July’s elections would bring back Thailand’s most divisive figure Jun 2nd 2011 | BANGKOK AND DUBAI "Before he went into politics, Mr Thaksin made a fortune in telecommunications. He still smarts over the Supreme Court's confiscation last year of 46 billion baht ($1.5 billion) from the sale of his family-owned Shin Corp in 2006 to Singapore's Temasek Holdings. The military junta froze the proceeds after seizing power that year............ ..............Yet the same court ruled that the remaining 30 billion baht from the sale belonged to Mr Thaksin. Indeed, this money has been transferred to his family's accounts in Thailand." http://www.economist.com/node/18775121

Now if you have any more comprehension of the English Language problems, siampolee, don't hesitate to get in touch.

[fab4]

"But we had to send Thaksin 30,000,000,000 baht,"

You've mentioned this a couple of times now and I couldn't think where this ridiculous lie came from, and then it clicked. It's so obviously anti Thaksin, where else could it come from, good ol' sondhi's antithaksin.com

You do know the rules on this forum about not posting "any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law"

You might want to consider that and certainly think of a more reliable source for your posts.............................

It comes from good old Forbes, not from Sondhi.

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

As usual, never a "thank you for enlightening me ... sorry, you're right, I'm wrong" from fabbie; he just throws in his incorrect ten cents worth and then runs off to another topic to post more nonsense...!

You haven't enlightened me. As usual, you have posted without thinking or any kind of research or comprehension.

So, george0,mosha,dru2,skywalker69 and the the 2 others, (you know who you are) try reading post #60

http://www.thaivisa.com/forum/topic/701175-thai-banks-say-why-they-reject-rice-loan-auction/page-3#entry7382272

Any time you want to apologise for flaming is fine by me.

[fab4]

It comes from good old Forbes, not from Sondhi.

.....

"Controversial former prime minister lives in Dubai as a fugitive from Thailand to avoid corruption charges. His influence over sister Yingluck, Thailand's current prime minister, whom he nominated for the position, is said to be waning. Ousted in 2006 coup, Shinawatra disclosed to FORBES in October that Thai authorities had returned to him close to $1 billion of his $2.3 billion in frozen assets".

http://www.forbes.com/profile/thaksin-shinawatra/

Now that's the right way to reply! Details and no vitriol. Thank you.

Unfortunately those details have been interpreted wrongly and to be perfectly honest that quote is from the original statement from Thaksin which was reported by AFP and then picked up by the BBC, The Guardian, The Economist and seemingly, Forbes. See post #60.