Farmers back Thai govt bonds to raise money for rice payments

[webfact]

Farmers back govt bonds to raise money for rice payments
By Digital Content



BANGKOK, Feb 24 – The Thai Farmers and Growers Association (TFGA) has give its support to the government’s move to issue bonds to raise funds for overdue payments to farmers from the rice pledging scheme.

The farmers from the central region also called on the anti-government People’s Democratic Reform Committee (PDRC) not to disrupt the issuance of state bonds, proposed last week by the Finance Ministry.

TFGA leader Wichian Phuanglamchiak said farmers wanted nothing but money for their rice but the PDRC and its network have obstructed government attempts to secure money from any channel.

“From what the PDRC has done, how can it say it is helping farmers?” he asked.

He said protesters should stop using farmers as political hostages and the PDRC should focus on other issues instead of barring rice payments, if it wanted to oust the government.

Since rice subsidies for paddy in the 2013/2014 crop will end on Feb 28, rice millers have pushed the paddy price down to only Bt6,000 per tonne, and the price will plummet after this month, he said.

Mr Wichian described as nothing new a proposal by Phra Buddha Issara, a PDRC core leader, to set up a rice farmer council to protect farmers and look into their welfare, saying the council will create rifts among Thai planters.

“Thailand has had a grower council, represented by growers in every field. A rice farmer council will create privilege to rice growers in the eye of planters of other crops such as sugarcane, rubber, corn and tapioca,” he said. (MCOT online news)


-- TNA 2014-02-24

[khwaibah]

They really have no choice but to go down with the ship.

[ikurauni]

It does not matter which side they are in, we all should help the farmers. The farmers have been used by both sides but it is time to show some respect to the farmers. Without farmers, we don't have foods.

[seajae]

so the ptp appointed red farmer has again voiced the ptp party line in trying to placate the farmers, screw the truth just do what you are told by the ptp and reds.

[Chao Lao Beach]

Since rice subsidies for paddy in the 2013/2014 crop will end on Feb 28, rice millers have pushed the paddy price down to only Bt6,000 per tonne, and the price will plummet after this month, he said.

The real price

[AleG]

Since rice subsidies for paddy in the 2013/2014 crop will end on Feb 28, rice millers have pushed the paddy price down to only Bt6,000 per tonne, and the price will plummet after this month, he said.

The real price

With that and the inflated fertilizer, field rents, etc... caused by the Rice Scheme the farmers are going to be ruined. If this is a "Success" I dread to think what Yingluck would consider a failure.

[SoilSpoil]

It does not matter which side they are in, we all should help the farmers. The farmers have been used by both sides but it is time to show some respect to the farmers. Without farmers, we don't have foods.

Yes, let the tax payers fork up the stolen 400 billion! Helping the farmers now equals helping the thieves who corrupted the system and who without resistance will get away with it! At the account of all hard working tax paying Thais.

[fab4]

so the ptp appointed red farmer has again voiced the ptp party line in trying to placate the farmers, screw the truth just do what you are told by the ptp and reds.

I thought you were applauding the rice farmers just the other day and now they are they are just PTP lackeys

Why not just give up the pretense and go back to calling them Red Kwai just like in the good old days?

Sycophants, the lot of you.

Edited February 24, 2014 by fab4

[aimbc]

Sell the rice!

[winstonc]

so the ptp appointed red farmer has again voiced the ptp party line in trying to placate the farmers, screw the truth just do what you are told by the ptp and reds.

I thought you were applauding the rice farmers just the other day and now they are they are just PTP lackeys

Why not just give up the pretense and go back to calling them Red Kwai just like in the good old days?

Sycophants, the lot of you.

what you think theirs only 1 rice farmers organisation do you....

[JesseFrank]

The Thai Farmers and Growers Association (TFGA) has give its support to the government’s move to issue bonds to raise funds for overdue payments to farmers from the rice pledging scheme.

Did anyone expect them to say, Oh no not anymore money, after they haven't received a single baht yet ?

[h90]

It does not matter which side they are in, we all should help the farmers. The farmers have been used by both sides but it is time to show some respect to the farmers. Without farmers, we don't have foods.

Yes, let the tax payers fork up the stolen 400 billion! Helping the farmers now equals helping the thieves who corrupted the system and who without resistance will get away with it! At the account of all hard working tax paying Thais.

freezing the bank accounts of the corrupts and using that money to pay the farmers would be the right thing to do.

[bigbamboo]

The farmers showing their true colours at last..... 'Never mind the politics, where's the money?'

Come to think of it, they're no different from your average politician really.

[fab4]

so the ptp appointed red farmer has again voiced the ptp party line in trying to placate the farmers, screw the truth just do what you are told by the ptp and reds.

I thought you were applauding the rice farmers just the other day and now they are they are just PTP lackeys

Why not just give up the pretense and go back to calling them Red Kwai just like in the good old days?

Sycophants, the lot of you.

what you think theirs only 1 rice farmers organisation do you....

I'm talking about the farmers not their associations. I am well aware of the PDRC led association that broke away from the one mentioned in the OP.

I stand by my accusation about suthep and his sycophants.

Edited February 24, 2014 by fab4

[expat888]

The farmers will back anything that gets them their money. I don't blame them.

[uty6543]

It does not matter which side they are in, we all should help the farmers. The farmers have been used by both sides but it is time to show some respect to the farmers. Without farmers, we don't have foods.

Yes, let the tax payers fork up the stolen 400 billion! Helping the farmers now equals helping the thieves who corrupted the system and who without resistance will get away with it! At the account of all hard working tax paying Thais.

freezing the bank accounts of the corrupts and using that money to pay the farmers would be the right thing to do.

Yes I agree morally right but unfortunately not legal.

[fish fingers]

Do the rice farmers realize that they are being totally stitched up? By agreeing to this, their contract with Yingluck is null and void. They have to accept the market value for the overstock. With supply and demand factors and the poor condition of the rice, this cd be 20X less then they originally agreed….

[djjamie]

“From what the PDRC has done, how can it say it is helping farmers?” and "the PDRC should focus on other issues instead of barring rice payments"

This is a technique of propaganda called confusion of correlation and causation. Just because two things happen together does not prove that one thing causes the other. The rooster's crowing doesn't really make the sun rise.

In this instance the PDRC's reinforcement that the PTP will be breaking the law if it goes searching for loans does not mean that they are barring rice payments.

Whether the PDRC highlighted to the banks that constitutional law could be overstepped or not would not have changed the outcome. The banks would not have taken up the offer anyway stating that they were worried about the legality of the bridging loans as well as undermining the confidence in the banks by their investors. All Suthep did is highlight one point that they knew anyway.

Whether the PDRC said or not to take money out of GSB the people would have done that anyway. They are concerned citizens that know this rice scheme is a failure and not transparent. These key points do not bode well with an investor who feels their money will not be used constructively and transparently.

This gets onto another technique called projection. It is a psychological technique where the PTP accuse the PDRC of the sins and crimes of which they themselves are guilty.

So the statement like the "PDRC are not helping the rice farmers" can be put into the correct context which is that the PTP lied twice before the dissolution or parliament that it had the funds within its budget and then refused to get a loan before it went into caretaker mode. So the PDRC, again, are purported to be not helping the farmers when in fact the projection is they are not helping the farmers because the PTP failed in their responsibilities previously.

As can be shown on TVF projection is quite an effective and powerful measure as it removes the persons train of thought from the inconvenient truths and root causes thus absolving them of any wrong doing while projecting those very wrong doings onto someone or anyone that is convenient. In this case the focus is on the PDRC which is the current body that political demonization is directed towards to further the PTP's agenda.

The common thread throughout all the posts on all articles within TVF and in fact in the Thai political landscape is the encapsulation of this ethos.

Edited February 24, 2014 by djjamie

[SoilSpoil]

Do the rice farmers realize that they are being totally stitched up? By agreeing to this, their contract with Yingluck is null and void. They have to accept the market value for the overstock. With supply and demand factors and the poor condition of the rice, this cd be 20X less then they originally agreed….

The Thai rice market is ruined. Importers will negotiate the price down to their teeth, farmers are paying highly inflated prices for renting land, fertilizer, etc.

Being a rice farmer was hard, but will only be tougher. Most of them won't survive and if they do, no one will step in their footsteps.

The whole branch is destroyed and soon to be 'colonized' completely. We were already asked to grow Japanese rice for a Japanese importer. They will issue seeds, knowledge and will harvest. All we have to do is lease them the land. Of course we will take this offer!

[bigbamboo]

Do the rice farmers realize that they are being totally stitched up? By agreeing to this, their contract with Yingluck is null and void. They have to accept the market value for the overstock. With supply and demand factors and the poor condition of the rice, this cd be 20X less then they originally agreed….

The Thai rice market is ruined. Importers will negotiate the price down to their teeth, farmers are paying highly inflated prices for renting land, fertilizer, etc.

Being a rice farmer was hard, but will only be tougher. Most of them won't survive and if they do, no one will step in their footsteps.

The whole branch is destroyed and soon to be 'colonized' completely. We were already asked to grow Japanese rice for a Japanese importer. They will issue seeds, knowledge and will harvest. All we have to do is lease them the land. Of course we will take this offer!

"Calling agent Thaksin. Mission accomplished. Return to base."

[Gunna]

“From what the PDRC has done, how can it say it is helping farmers?” and "the PDRC should focus on other issues instead of barring rice payments"

This is a technique of propaganda called confusion of correlation and causation. Just because two things happen together does not prove that one thing causes the other. The rooster's crowing doesn't really make the sun rise.

In this instance the PDRC's reinforcement that the PTP will be breaking the law if it goes searching for loans does not mean that they are barring rice payments.

Whether the PDRC highlighted to the banks that constitutional law could be overstepped or not would not have changed the outcome. The banks would not have taken up the offer anyway stating that they were worried about the legality of the bridging loans as well as undermining the confidence in the banks by their investors. All Suthep did is highlight one point that they knew anyway.

Whether the PDRC said or not to take money out of GSB the people would have done that anyway. They are concerned citizens that know this rice scheme is a failure and not transparent. These key points do not bode well with an investor who feels their money will not be used constructively and transparently.

This gets onto another technique called projection. It is a psychological technique where the PTP accuse the PDRC of the sins and crimes of which they themselves are guilty.

So the statement like the "PDRC are not helping the rice farmers" can be put into the correct context which is that the PTP lied twice before the dissolution or parliament that it had the funds within its budget and then refused to get a loan before it went into caretaker mode. So the PDRC, again, are purported to be not helping the farmers when in fact the projection is they are not helping the farmers because the PTP failed in their responsibilities previously.

As can be shown on TVF projection is quite an effective and powerful measure as it removes the persons train of thought from the inconvenient truths and root causes thus absolving them of any wrong doing while projecting those very wrong doings onto someone or anyone that is convenient. In this case the focus is on the PDRC which is the current body that political demonization is directed towards to further the PTP's agenda.

The common thread throughout all the posts on all articles within TVF and in fact in the Thai political landscape is the encapsulation of this ethos.

Brilliant post, exactly what I was thinking. Thanks for some truth for a change.

[Bocking]

The Government has told us that checks and balances within the rice pledging scheme have provided transparency at every stage,

Thus, all the Government needs to do is sell 22 million tonnes of rice @ Bt6,000 per tonne, and they'll have the Bt130 billion to pay the farmers.

In other news, the PT Government is currently looking for a reliable supplier of Magic Beans

[givenall]

They really have no choice but to go down with the ship.

Who would buy this junk bonds and have a real hope of getting the money back

[mic6ard]

So in the end, the government needs the public's fund to pay the farmers for rice bought into the program at ridiculously high price?

The rice that the gov't lack the ability to sell, or properly monitored in any case.

I am seriously wondering how the gov't came up with this (I know they probably did not think too much)

Rice bought @ 1X,XXX baht. Market price X,XXX baht. There's no way to make any money from this. The public would be needed to help to cover the shortfall anyway.

But seriously! right now it looks like the public will have to cover for all of the expense.

What a mess

[trogers]

Whoever came up with this scheme should first be held accountable. Whoever believed in this scheme has to share the losses.

Is this not how society had treated past ponzi schemes? Catch and jailed the originators and distribute whatever recoverable monies and assets back to the victims. Repayment will never be 100%.

[rubl]

 

so the ptp appointed red farmer has again voiced the ptp party line in trying to placate the farmers, screw the truth just do what you are told by the ptp and reds.

I thought you were applauding the rice farmers just the other day and now they are they are just PTP lackeys

Why not just give up the pretense and go back to calling them Red Kwai just like in the good old days?

Sycophants, the lot of you.

what you think theirs only 1 rice farmers organisation do you....

 

now, now. It's just pure co-incidence that this is the only farmer organisation recommended by the caretaker Dept. Minister of Commerce who last week suggested all 'real' farmers' join them.

[Goat Roper]

Sell the rice!

Difficult to sell rotten rice.

[Katipo]

1. Unless there is absolutely no rice left of exportable quality, why aren't they at least trying to sell it? All efforts are going into borrowing money. I feel we have only seen the tip of the iceberg in relation to corruption in this scheme.

2. Who in their right mind would want to buy these bonds anyway?

[Misterwhisper]

Okay, so the government obviously does not have the funds to pay the billions of Baht they owe to the farmers in the first place; and now we are graciously invited to spend our hard-earned money to purchase flimsy government bonds in the hope the government will eventually buy them back plus accrued interest?

Let me think....

[Scamper]

It is not surprising that the Yingluck administration - in their continual quest to isolate and commandeer farming leaders to be advocates to their side as well as agree to create a strong propagandistic war of words against the PDRC - that they continue to do so. The PDRC have - if anything - shown itself to have supported the farmers in every way - from organizing donations, to providing lawyers' fees, and support to their cause. At the end of the day, however, the farmers will be swayed by whether they will be paid or not. And the administration will be saddled with whether it will be solvent, legal, or constitutional.