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Posted

Suthep is now threatening to close down any Thai bank that assists the present caretaker government. I know that the insurance covers up to 50MB but should we be worried? I have substantial assets in SCB.

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Posted (edited)

OP I'm also with SCB . Has there been any news about SCB specifically?

Unfortunately some of us don't have the luxury of taking the money out if it is part of the retirement visa process.

Edited by Asiantravel
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Posted (edited)

I haven't heard anything specifically about SCB but I know that the government is asking all the banks for a loan to take care of the farmers. I can leave the 800K in no problem but I put significantly more in over the years due to 0% interest in the US vs 3+% here. I still have most of my money in the US, but would be upset if I lost the money here. I am a little worried that due to the political/financial mess going on in Thailand that there could be a closure or raid on all the banks. Some of the big financial minds out there like Naam and Midas, please respond.

Edited by parallaxtech
Posted

Chop chop Midas, aka Big Gun 2, all the OP needs now is some of your Zero Hedge posts telling him the world is going to end tomorrow and the circle will be complete.laugh.png

Sorry OP but you really should chill.

Posted

Good question from the OP - but it does not look like any bank is going to provide the loan. Can't blame them as the risks must be high.

If a bank does provide the loan - then I'd move money from that bank.

Posted

Ok, Wyatt Earp (Naam) has responded and doesn't seem worried so I will chill and Chiang Mai is cool right now so he should know something about chilling. From his lips to Buddha's ears.

Alright, my last word on conspiracy/paranoia:

Perfect Storm = Current government goes bankrupt resulting in a mass financial/political catastrophe and then you know who dies. If the government needed money it would be political suicide to take it from the Thai's bank accounts, but it would probably be roundly applauded if they took ours.

I'll leave my money where it is unless the big boys start warning everyone to move it.

Thanks for all the comments. I don't drink, but was about to start today, so now will rest and have a glass of milk.

Posted

The expression, "perfect storm" has worn out its welcome and is massively overused, can no one come up with some different, competition time perhaps?

Posted

OP I'm also with SCB . Has there been any news about SCB specifically?

Unfortunately some of us don't have the luxury of taking the money out if it is part of the retirement visa process.

No, you won't catch me risking good money in Thai banks, at the moment, just to meet extension requirements.

Posted

Fortunately (or not depending on your point of view) it would take more than a few protesters blocking the car park at head office to close a major bank. Your money is pretty safe with SCB, however if it was a serious amount I'd probably spread it around a few banks just in case.

Posted

Ok, Wyatt Earp (Naam) has responded and doesn't seem worried so I will chill and Chiang Mai is cool right now so he should know something about chilling. From his lips to Buddha's ears.

Alright, my last word on conspiracy/paranoia:

Perfect Storm = Current government goes bankrupt resulting in a mass financial/political catastrophe and then you know who dies. If the government needed money it would be political suicide to take it from the Thai's bank accounts, but it would probably be roundly applauded if they took ours.

I'll leave my money where it is unless the big boys start warning everyone to move it.

Thanks for all the comments. I don't drink, but was about to start today, so now will rest and have a glass of milk.

Do you think they will tell you before or after they remove theirs ?

Posted (edited)

Ordinarily I would say its nonsense to even think its at risk.

Then the word Cyprus pops in to my mind and I can't be 100% sure.

I'm stil 99.999% sure though!

Did you forget Iceland?

I put mine in Thai Military Bank, can't see the government or rebels playing with them.

Edited by FiftyTwo
Posted

Not a question I would consider seriously. But for those who are seriously thinking about it, take your pick:

"Nothing sways the stupid more than arguments they can't understand"

"Who's the more foolish? The fool or the fool who follows him?" (OB1: Star Wars)

Cheers

Fletch :)

  • Like 1
Posted

I doubt that Suthep will try to close Bangkok Bank since they are so big in international finance. Also, they are a big donor to his cause.

Posted

Thai banks!I don't trust any bank anywhere.Most countries have borrowed so,much.I believe the world is like musical chairs.It's all fine now.Wait til the music stops.

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Posted

I can't see how he will get away with this, just boycott his cooking oil

Sent from my iPhone using Thaivisa Connect Thailand

Posted

Ok, Wyatt Earp (Naam) has responded and doesn't seem worried so I will chill and Chiang Mai is cool right now so he should know something about chilling. From his lips to Buddha's ears.

Alright, my last word on conspiracy/paranoia:

Perfect Storm = Current government goes bankrupt resulting in a mass financial/political catastrophe and then you know who dies. If the government needed money it would be political suicide to take it from the Thai's bank accounts, but it would probably be roundly applauded if they took ours.

I'll leave my money where it is unless the big boys start warning everyone to move it.

Thanks for all the comments. I don't drink, but was about to start today, so now will rest and have a glass of milk.

to tell you the truth... since "Lehman 2008" i have always been more concerned holding cash in a multinational offshore bank than in any Thai bank. it's going to be six years and nothing has changed.

drink your milk and relax wink.png

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