Struggle for Thai rice funds continues

[Thaddeus]

No doubt about the PTP promising something you haven't got , just to buy votes, the hopes of rice farmers were pinned on the money received, the government is struggling to raise / sell to make the payments ,these disgusting people who try to call themselves politicians should hang their heads in shame and leave quietly.

A sense of shame is non-existent.

When caught out, they lie, deny, blame someone else, stamp their feet, shout down a microphone and then lie and deny some more.

[Bsnuser]

Quote "The Finance Ministry has failed twice to raise the needed money via short-term loans. First it held an auction for a bridge-financing loan of Bt20 billion from financial institutions. Then it called for bids for Bt20 billion in promissory notes for general investors. No one participated in either auction.

The main reason for the lack of bidders was the lack of assurance that a caretaker authority can legally raise funds via bond issuance. Another reason was that many state enterprises were reluctant to take part because of strong opposition from their employees"

Let me get this straight, so there was no one with confidence of getting their money back NOT EVEN AMONG THE VERY RICH POLITICIANS. No one from the government or it's rich supporters were willing to invest their own money in Bonds and promissory notes they themselves wanted to issue to the public?

[smedly]

lets assume for a moment that the government never stepped down and are still in office

How would they have paid the rice farmers - the baht 2.2 trillion off budget (infrastructure) loan was already rejected ?

So far they have had a free unhindered pass to make attempts at securing loans etc as they would have had if still in full office yet have failed - so just how would they have paid the farmers ????

[smedly]

Has the Shin clan been paid for its rice yet??

I am sure some of them must own land used to grow rice

they own all the rice and all the farms - at least that's what you'd think considering the money they received - keep the feet for dancing

[Scamper]

The administration appears to be in daze of repetitive actions and tactics, as if by the very repetition of them they are bound to work at some point. They have really hit a brick wall for some time. They simply don't recognize the brick wall is there.

[scorecard]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

This is the sort of mess that arises when military juntas write their own constitutions and unilaterally impose it.

Leave it to the elected guys.

Wrong on point 1.

Re point 2, are you suggesting that the members of the paymasters get real rich real quick club are highly capable and highly sincere and everything they discuss do is totally focused, with morality, on developing Thailand and with no corruption of collusion? And therefore the electorate (the good citizens of Thailand) have no need to be concerned in any way?

(I crossed out discuss because the club members are not involved in any way at all in discussions, they just vote (using each others voting cards) as instructed.)

Ultimately, are you saying that the unpaid distraught farmers (some not been paid now for 7 months, and all attempts to find funds have failed) should just relax, should not be concerned, should just sit and be quiet and starve?

Edited March 4, 2014 by scorecard

[SICHONSTEVE]

This is the sort of mess that arises when military juntas write their own constitutions and unilaterally impose it.

Leave it to the elected guys.

Wow! A long term Thaksinista. Member since 21 Feb 2014, that's nearly 2 weeks!

Who was he in a previous TV life??

[darren84310]

Good job by the dems and PDRC to prevent payment!

there just rice farmers, why whould they change their colors and care now?

Giving 30 billion baht in frozen funds to a convicted criminal on the run, just before you dissolve parliament and instead of planning for payments for the rice farmers probably didn't help either.

What do you think?

[darren84310]

lets assume for a moment that the government never stepped down and are still in office

How would they have paid the rice farmers - the baht 2.2 trillion off budget (infrastructure) loan was already rejected ?

So far they have had a free unhindered pass to make attempts at securing loans etc as they would have had if still in full office yet have failed - so just how would they have paid the farmers ????

Exactly what I thought months ago and also thought the Yellows should have just tried to block all their illegal moves in the courts and bide their time.

PTP Thaksin would have hung themselves within a year. Then push for an election.... which is roughly what I think Abhisit wanted to do.

[Pimay1]

This is the sort of mess that arises when military juntas write their own constitutions and unilaterally impose it.

Leave it to the elected guys.

Wow! A long term Thaksinista. Member since 21 Feb 2014, that's nearly 2 weeks!

Sadly, they don't live long in the boiler room and must be replaced frequently.

Anyone that does not believe in reincarnation needs to become a member of TV. Or maybe a better term is reguritation.

[phantomfiddler]

Good job by the dems and PDRC to prevent payment!

there just rice farmers, why whould they change their colors and care now?

They,re, not there Totally different meaning !

[phantomfiddler]

All the rice money is being siphoned off to bank accounts in Hong Kong, haven,t you heard ? When will the penny ever drop ? Never !!! In all of the world, everywhere, stupid people will always be used, always be poor, and this is the way of the world and is probably related to the teachings of Darwin. I do not condone this state of affairs, it is simply the way that evil people exploit the poor.

[brownbear]

Good luck with the Bonds issue.

'Accelerated sales...hoping... 8 billion in eight months...'

Only the middle part of that statement is anywhere near realistic and truthful.

1) Find a buyer

2) Negotiate an 'acceptable' price when Thailand's own policy has been a major contribution to the decline in the market rate which is now very low

3) Deliver a satisfactory product

4) Ensure payments are received

5) Deduct middlemen's charges

6) And others' charges

7) What's left can be paid to the true beneficiaries

8) trouble is it won't be much and what about the other Bht70billion?

More smoke and mirrors and by then the existing (and responsible) regime will likely be spending the proceeds in Dubai. Of course if they were serious about the whole plan it should have started many months ago...but that's all water under the bridge now isn't it.

[MAJIC]

No doubt about the PTP promising something you haven't got , just to buy votes, the hopes of rice farmers were pinned on the money received, the government is struggling to raise / sell to make the payments ,these disgusting people who try to call themselves politicians should hang their heads in shame and leave quietly.

Absolutely correct,and where did the Farmers money disappear to,or more to the point whose pockets? well we know one Fat Cat,who got his money back,but who in the government gave him his money back is the difference,between bluffing and lying a way through and being drummed out of office,in disgrace,and the Party dissolved! just like TRT.

[MAJIC]

Good job by the dems and PDRC to prevent payment!

there just rice farmers, why whould they change their colors and care now?

Giving 30 billion baht in frozen funds to a convicted criminal on the run, just before you dissolve parliament and instead of planning for payments for the rice farmers probably didn't help either.

What do you think?

And as shown in my Post No 44,didn't even have the decency to declare who signed off the Frozen funds,destined for Thaksin and allowed him

to tell Forbes USA why he is considerably richer this year,due to the windfall gift! compliments of Thailand. An absolute disgraceful,manipulation of the peoples money,and abuse of power.

Edited March 4, 2014 by MAJIC

[darren84310]

All the rice money is being siphoned off to bank accounts in Hong Kong, haven,t you heard ? When will the penny ever drop ? Never !!! In all of the world, everywhere, stupid people will always be used, always be poor, and this is the way of the world and is probably related to the teachings of Darwin. I do not condone this state of affairs, it is simply the way that evil people exploit the poor.

No, I haven't heard but wouldn't be surprised. However, where is your proof?

[shrimpythailand]

20 billion quick cash flash for PR but owe the farmer's right NOW 130 billion (over 4 BILLION usd).... then 8-9 months to HOPE to sell 80 billion at 800,000 tons a month... hoohaa... hope the red and yellow farmers can wait a few more 8 or 9+ months to pay of the bills they owe now... sounds like the farmers maybe back in Bangkok sooner rather than later...and a new rice crop is coming online...well let's see - still don't have a government running this country or a new election date or a reform debate date...hmmm...mai pen rai... let's see how long the farmers can actually hold out with these fake promises by Badluck and friends...imagine going 3-6 months without getting paid? I read the Dems did vote for keeping the scheme/scam going mid last year - but it seems that old Badluck forgot to make sure the 130 billion baht was paid out before she dissolved the gov... hmmm... plus the gov really wasn't trying hard last year to sell rice as they must have been using regular government funds to pay them... thailand has been averaging say 10 million tons per year export for years .. but only sold 7 million or so last year... must have been nobody wanted to sell any more rice at losing money prices... as every ton sold now - if they want to try 800,000 tons per month - which also may be a pipe dream in the next 8-9 months is losing like $150 usd per TON against the global rate... I can't do the math in my head but hang on let me grab a krung kit lek...ok 8 months at 800,000 tons per month = 6.4 million tons at say average of $150 per ton lost - paid to farmers vs going global rates for paddy and fragrant rice = $960,000,000.00 million dollars out of taxpayer money in thailand gone... yikes...but about right - 700 billion baht in 2 years on the rice scam is about 1.1 billion dollars per year that has been paid out.... is this right? Holy Cow Batman...where is the group that was going to open the rice scam books anyway? oops

[Bkkbound]

The in-laws have been paid for their rice and the money is in their bank accounts, but: they cannot use ATMs to with draw cash, they can only withdraw cash from the local bank at which they are registered, there are hundreds of people lined up waiting to to be paid and the bank have restricted them to 20k withdrawals!!!

There are some very angry red shirts around