Thai farmers can get normal loans too: BAAC exec

[belg]

loansharks on holliday?

[Thai at Heart]

Did I just read about a bank sending psychologists to visit a family where someone committed suicide?

In the meantime claiming that "farmers have many stresses not just money". Have you ever read.a more elitest and demeaning article in your life? These people can be patronising even when they are trying to empathise.

[aimbc]

They need to stop borrowing more money and sell the rice or give it back to the farmers. How simple is that. They have the product why hold on to it. If the govt. can not honor the payment, give back the product and let the farmers deal with it themselves. That is how it works.

And not use this scheme to steal from and to win the hearts of Thailand. You know who ultimately pays for it. It really creates a deep divide and rift amongst people. Such evil. This govt don't care, they already got rich off the taxpayers dollars. And that is what this whole scheme is all about. How do they sleep at nights.

[ratcatcher]

Quite simply an amazing situation. Hardly imaginable in any other country.

Government sends billions of baht to Thaksin.

Farmers grow rice that the government agrees to buy from them on the understanding they will be paid when said rice is sold.

Government fails to sell rice and farmer is unable to get cash for his rice thus unable to buy food and essentials and pay bills.

Government dissolves parliament before paying farmers knowing they have not sold the rice and are unable to pay farmers.

Caretaker government makes promises to pay but cannot sell rice and cannot raise loans to pay farmers.

Caretaker government tells farmers to borrow money from BAAC plus interest. BAAC borrows money from Gov't Svgs Bank.

Farmers borrow their own money from BAAC and pay interest on it.

An amazing situation brought to you by the Great Brain behind PTP.

If I am wrong here please correct. Thanks.

[wealth]

The farmers are in a hole, and the BAAC want to give them a bigger spade.

so far 17 billion Baht have been secured via a loan to be paid out on Monday. As expected far short of 180 billion. Altogether hardly 10% which includes the nearly 800 million from last week.

What a shame.

Too late for this govt. There will be an uproar from the farmers.

[wealth]

Quite simply an amazing situation. Hardly imaginable in any other country.

Government sends billions of baht to Thaksin.

Farmers grow rice that the government agrees to buy from them on the understanding they will be paid when said rice is sold.

Government fails to sell rice and farmer is unable to get cash for his rice thus unable to buy food and essentials and pay bills.

Government dissolves parliament before paying farmers knowing they have not sold the rice and are unable to pay farmers.

Caretaker government makes promises to pay but cannot sell rice and cannot raise loans to pay farmers.

Caretaker government tells farmers to borrow money from BAAC plus interest. BAAC borrows money from Gov't Svgs Bank.

Farmers borrow their own money from BAAC and pay interest on it.

An amazing situation brought to you by the Great Brain behind PTP.

If I am wrong here please correct. Thanks.

so they used govt channel to pay Thaksin for his support during the mob from 2006 to approx. 2010? feasible! This why they try to hang on by all means to cover their crime in this govt. Was he whining to get killed by his masters and eco hitmen like he became one himself?

The books will release a lot more info than we already know.

[bangon04]

"BAAC executives yesterday presented the family of farmer Boonma Sa-thong-uan, who on Tuesday hanged herself in Kamphaeng Phet's Klong Lan district, with Bt30,000 in assistance money."

In Bangkok the usual payoff for causing death by negligence is 50000 isn't it?

[winstonc]

no-one from the red camp to defend this.....i didnt think so ..to shameful to get involved..or even to say how disgracful it is shame on you people trolls thats all yes..

[Thaddeus]

no-one from the red camp to defend this.....i didnt think so ..to shameful to get involved..or even to say how disgracful it is shame on you people trolls thats all yes..

I wonder what is going to happen when the farmers from the north, who got paid first, find out that the money they have in the BAAC, is now going to be used as a loan to the farmers who haven't been paid yet.

With very little chance of getting any of that money back.

Edited February 15, 2014 by Thaddeus

[Baerboxer]

Quite simply an amazing situation. Hardly imaginable in any other country.

Government sends billions of baht to Thaksin.

Farmers grow rice that the government agrees to buy from them on the understanding they will be paid when said rice is sold.

Government fails to sell rice and farmer is unable to get cash for his rice thus unable to buy food and essentials and pay bills.

Government dissolves parliament before paying farmers knowing they have not sold the rice and are unable to pay farmers.

Caretaker government makes promises to pay but cannot sell rice and cannot raise loans to pay farmers.

Caretaker government tells farmers to borrow money from BAAC plus interest. BAAC borrows money from Gov't Svgs Bank.

Farmers borrow their own money from BAAC and pay interest on it.

An amazing situation brought to you by the Great Brain behind PTP.

If I am wrong here please correct. Thanks.

Yes, but the clan and cronies have made some good money out of all this. And, stand poised to buy up lots of more land cheaply as more and more poor farmers go bust.

Hey, but no worries, the farmers can be re-employed as farm laborers at 300 baht a day. Soon pay off all their debts.

I'm sure the real plan is very different from the one that is publicly seen as the rice pledging scheme. It was never ever about improving the farmers lives.

[Thormaturge]

Frankly if someone told me they could not afford to pay me for my services/produce BUT they would gladly lend me some money and charge interest, my first instinct would be to reject the loan and insist that, since there is money available, I would expect payment for my services/goods without delay.

Whether it is corrupt or not, I am certain the rice pledging scheme has fallen foul of incompetence and bad planning, plus, now, the poor farmers are being treated as though they are stupid..by both sides. No wonder some are taking their own lives..

Edited February 16, 2014 by Thormaturge

[Thormaturge]

Double post removed. Apologies..

Edited February 16, 2014 by Thormaturge

[Seastallion]

So the Farmers who HAVE NOT been paid for their Rice by the Government can borrow more money .. <deleted> !!! They should be getting PAID ! not getting into more debt ..... alt=facepalm.gif width=24 height=18>

It puts the onus to honour the debt on the farmer. This is just a way around the bank not lending the government money, and also puts the farmers land up as security whereas the government has nothing to offer that the banks trust.