Thai farmers to check rice stockpiles in all government warehouses today, Feb 11

[Crushdepth]

Well then, by all means ...go ahead.

But then again, that is not for you and me to decide. And neither the farmers, nor the government, nor Abhisit or Suthep even care about your or my opinion.

True enough. I don't think the government care about any opinion other than their own. Otherwise they wouldn't have gotten them selves into this mess!

You think Suthep cares about the rice farmers? He's just using them for his goals.

In one speech, Suthep said that he does not want the government to borrow money in order to pay the farmers.

In the next speech, Suthep said that when he ousts the government and his people's council is ruling Thailand, he will borrow money to ensure that all farmers are paid the money they are owed.

So basically, he says the government can't borrow money because borrowing is bad, but if you help me kick out the government I will ensure that money is borrowed to pay you back.

Yet during the whole time, he claims that he will hold no official office or tell the people's council what to do.

His lies just don't add up anymore.

Go look it up, I'm not joking.

Suthep certainly has tried to obstruct banks from lending to cover the rice scheme. But the fact remains - he didn't have to. Banks can't go throwing billions of dollars into a scheme that is known to be i) a pit of corruption and mismanagement, ii) financially unsustainable with no way to pay back, iii) when there is legal uncertainty as to whether they would ever be repaid if they lent to a government in caretaker mode. Lending to the scheme is a high risk - low reward activity. They wouldn't give the government loans before the election and they are not going to do it now.

TLDR: Suthep is a nutter, but responsibility for the utter failure of the rice scheme lies 100% with the government.

[englishoak]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

[casualbiker]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

All banks need security whether that's a physical thing or a paperwork thing .. this is what is in doubt!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

[englishoak]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

All banks need security whether that's a physical thing or a paperwork thing .. this is what is in doubt!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

So you think there isnt enough security here or that Thailand has a debt problem so large it wont be able to raise funding ? or is it you think it has such a bad reputation on repaying debts it wont be given any loans ? maybe because of Thaksins corruption or something to do with PTP ?

im genuinely curious because banks in my experience dont care about anything but the payment terms and ability to pay the instalments and usually they jump right to the top of the payment list even with the broke countries.

In all the reports and figures i have read there is not one that cites Thailand as having any problem with credit or any rating agency or that it even has a moderately high debt level.

Edited February 12, 2014 by englishoak

[casualbiker]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

All banks need security whether that's a physical thing or a paperwork thing .. this is what is in doubt!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

So you think there isnt enough security here or that Thailand has a debt problem so large it wont be able to raise funding ? or is it you think it has such a bad reputation on repaying debts it wont be given any loans ? maybe because of Thaksins corruption or something to do with PTP ?

im genuinely curious because banks in my experience dont care about anything but the payment terms and ability to pay the instalments and usually they jump right to the top of the payment list even with the broke countries.

In all the reports and figures i have read there is not one that cites Thailand as having any problem with credit or any rating agency or that it even has a moderately high debt level.

I have no idea what runs through Thai bankers minds. I would think at this juncture it's more about the paperwork being correct, protecting the management from misconduct charges.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

[Bluespunk]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

All banks need security whether that's a physical thing or a paperwork thing .. this is what is in doubt!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

So you think there isnt enough security here or that Thailand has a debt problem so large it wont be able to raise funding ? or is it you think it has such a bad reputation on repaying debts it wont be given any loans ? maybe because of Thaksins corruption or something to do with PTP ?

im genuinely curious because banks in my experience dont care about anything but the payment terms and ability to pay the instalments and usually they jump right to the top of the payment list even with the broke countries.

In all the reports and figures i have read there is not one that cites Thailand as having any problem with credit or any rating agency or that it even has a moderately high debt level.

I have no idea what runs through Thai bankers minds. I would think at this juncture it's more about the paperwork being correct, protecting the management from misconduct charges.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

So nothing like European and American bankers then.

[englishoak]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

All banks need security whether that's a physical thing or a paperwork thing .. this is what is in doubt!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

So you think there isnt enough security here or that Thailand has a debt problem so large it wont be able to raise funding ? or is it you think it has such a bad reputation on repaying debts it wont be given any loans ? maybe because of Thaksins corruption or something to do with PTP ?

im genuinely curious because banks in my experience dont care about anything but the payment terms and ability to pay the instalments and usually they jump right to the top of the payment list even with the broke countries.

In all the reports and figures i have read there is not one that cites Thailand as having any problem with credit or any rating agency or that it even has a moderately high debt level.

I have no idea what runs through Thai bankers minds. I would think at this juncture it's more about the paperwork being correct, protecting the management from misconduct charges.

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

Hmm so your talking about the legal system here ? yes i could see that as a worry the way it interprets things without president here.

ahh well theres always the IMF they would im sure be happy to lend they even got paid early last time by the man in dubai.. good record for paying off international debts that one... Ironic huh ?

[Crushdepth]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

Insurance companies don't cover high risk clients.

[wealth]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

Insurance companies don't cover high risk clients. ...

... and surely not the gov's bar-girl policies

[billd766]

Sigh nice claim but totally impossible.

OK a few questions.

1 how will they know how many warehouses there are and where ?

2 how will they know how many tonnes each should have had compared to what it does have ?

3 how will they know what rice is where and what has been moved or sold ?

4 Are all the rice storage facilities able to provide an inventory ?

5 how are they going to tally up figures at these warehouses ? count by hand ?

6 what % are going to be checked 5% 15% 50% 100% and what have been with proof ?

7 who is going to coordinate this into readable or reliable figures ?

8 are these farmers aware of what goes into a proper audit and how long it will take ?

9 Is this just another claim that will never be followed up properly ?

10 What makes people think farmers can check all stock in the country and come up with anything more than a load more confusing half truths and claims than real provable answers ?

Why should they not come up with answers at each warehouse and go to the government and DEMAND the truth.

Farmers may not always be well educated but I assure you they can count.

If the government denies the figures and says they are wrong then the government MUST come up with their figures and in the last 2 1/2 years they have NEVER done that citing that it is a state secret.

[billd766]

Sigh nice claim but totally impossible.

OK a few questions.

1 how will they know how many warehouses there are and where ?

2 how will they know how many tonnes each should have had compared to what it does have ?

3 how will they know what rice is where and what has been moved or sold ?

4 Are all the rice storage facilities able to provide an inventory ?

5 how are they going to tally up figures at these warehouses ? count by hand ?

6 what % are going to be checked 5% 15% 50% 100% and what have been with proof ?

7 who is going to coordinate this into readable or reliable figures ?

8 are these farmers aware of what goes into a proper audit and how long it will take ?

9 Is this just another claim that will never be followed up properly ?

10 What makes people think farmers can check all stock in the country and come up with anything more than a load more confusing half truths and claims than real provable answers ?

Why should they not come up with answers at each warehouse and go to the government and DEMAND the truth.

Farmers may not always be well educated but I assure you they can count.

If the government denies the figures and says they are wrong then the government MUST come up with their figures and in the last 2 1/2 years they have NEVER done that citing that it is a state secret.

[billd766]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

Tell that one to the farmers and see what reaction you get.

[Thaddeus]

ahh well theres always the IMF they would im sure be happy to lend they even got paid early last time by the man in dubai.. good record for paying off international debts that one... Ironic huh ?

To be ironic, it would have to be true.

[Valentine]

ahh well theres always the IMF they would im sure be happy to lend they even got paid early last time by the man in dubai.. good record for paying off international debts that one... Ironic huh ?

To be ironic, it would have to be true.

The only irony oak is that you even try to imply that Mr T was solely responsible for paying back the IMF loan. Policies & cuts were put in place by the previous government to enable that loan to be repaid early.

[Thait Spot]

If bank lend they will do so with insurance, ie banks dont need the rice scheme to be a success they will get paid regardless, just like everywhere else.

All banks need security whether that's a physical thing or a paperwork thing .. this is what is in doubt!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

So you think there isnt enough security here or that Thailand has a debt problem so large it wont be able to raise funding ? or is it you think it has such a bad reputation on repaying debts it wont be given any loans ? maybe because of Thaksins corruption or something to do with PTP ?

im genuinely curious because banks in my experience dont care about anything but the payment terms and ability to pay the instalments and usually they jump right to the top of the payment list even with the broke countries.

In all the reports and figures i have read there is not one that cites Thailand as having any problem with credit or any rating agency or that it even has a moderately high debt level.

One glance at the 500 billion debt that the NAAC has will tell you that the only repayments that have taken place have come from the unsustainable rice sales.

If this were a commercial loan, it would have been called in long ago. It will probably end up going the way of the FIDF if the current administration has any say over it.

[Thaddeus]

ahh well theres always the IMF they would im sure be happy to lend they even got paid early last time by the man in dubai.. good record for paying off international debts that one... Ironic huh ?

To be ironic, it would have to be true.

The only irony oak is that you even try to imply that Mr T was solely responsible for paying back the IMF loan. Policies & cuts were put in place by the previous government to enable that loan to be repaid early.

At the time he tried to imply that he paid it off out of his own pocket too.

I wonder if he will try that again with this shambles.

[Dogmatix]

That's a great idea. They have the manpower and the expertise and they are everywhere where the rice is stored. Will be interesting to see the results.

[EyesWideOpen]

I take my hat off to the farmers. In the past I was not too impressed with them after

they allowed themselves to be hoodwinked by Thaksin.... I always thought that in

Thailand there was a sort of unwritten rule to never really expose large scale corruption.

Meaning to not rub people's noses in shit when they get caught. It sure seems to me

that upon examination of these warehouses, some serious corruption is going to come

to light. Well more power to them.