transam Posted May 23, 2014 Share Posted May 23, 2014 Link to comment Share on other sites More sharing options...
oneday Posted May 23, 2014 Share Posted May 23, 2014 The OP may have something of a point. It depends whether you think this time is the same as the past few coups, when little damage if any was done to the Thai economy. Or do you think that the situation is more polarised than ever before, and that the mere fact of military intervention will do nothing to solve the systemic problems that Thailand now faces? In that case, the economy may well tank and the Baht depreciate over time. In any event, there is no need to do anything in a panic, in my view. My limited experience says Thailand is a very resilient country. The only thing IMO that will devastate the economy is a protracted curfew. Link to comment Share on other sites More sharing options...
ARISTIDE Posted May 23, 2014 Share Posted May 23, 2014 A number of unhelpful/trolling posts have been deleted. OP: Thailand has a long history of coups, I have lived through more than I can count. In the past the impact on finance has been minimal. So tell us Sheryl...in the past, has curfew been imposed and for how long? Having arrived to start my life here in August of 2009, I can't remember what happened as far as any curfew in 2006 or in prior coup years. The reason I ask is if the protests were harming the economy, as they certainly were in the last 6-7 months, then this curfew, if it lasts long enough, will devastate the economy. Think of all the businesses that depend on doing business after 10pm such as all the convenience stores and all the 1000's of nightlife venues. What about buses, which I have not read about whatsoever if they have restrictions on travel after 10pm. Pattaya, a town in particular, that thrives on nightlife will be kicked in the butt economically and if you thought tourists were staying away during the protests over the last 6-7 months, then my guess is incoming tourists will now drop to a trickle so the airlines will be significantly harmed. Who wants to come to a country under curfew. So it all comes down to how long this curfew will last. The rest of it IS business as usual. I am a bit surprised to see the baht/USD exchange has not been affected at all by the coup or curfew...yet. Im sure you will get used to it. Sent from my GT-I9300T using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
jimbeam1 Posted May 23, 2014 Share Posted May 23, 2014 The tourist will keep the baht up. Always has. Really. I somehow don't think the tourist is the main player in keeping the Baht up. jb1 Link to comment Share on other sites More sharing options...
Tywais Posted May 23, 2014 Share Posted May 23, 2014 An inflammatory post has been removed. Link to comment Share on other sites More sharing options...
jimbeam1 Posted May 23, 2014 Share Posted May 23, 2014 "Economics Crash"....I have prayed for one of those for a long time....don't hold your breath. If you live here what's the problem? Your 800k is still worth 800k tomorrow, Which I guess is for your retirement visa requirements cash? Irrespective of how the baht performs against the $, it's still 800k. You could take a punt on currency movements, but I doubt it will be worthwhile. But must make sure that he has the 800k to put back in the bank at least 3months before visa extension time. Mine is staying where it is, earning me more than it could in the UK. Not much but more. jb1 Link to comment Share on other sites More sharing options...
crazykopite Posted May 23, 2014 Share Posted May 23, 2014 Attitudes are changing ,young people no longer want to be told what they can and cannot do you only have to look at uprisings over the last 5 years to see that 1,000s are prepared to die for the cause Syria, Egypt, to mention a few so those who think that things will be back to normal in a day or two should open there eyes I hope and pray it does not come to that but you just don't know I hope the military commander is impartial to both the red and yellow shirts but somehow I get the feeling this is not the case throw both leaders in prison for a day or two and the one who you want to govern quietly slips out at the dead of night I am amazed that after two meeting with the parties the commander in chief had to resort to a coup . the good people of Thailand will get fed up of no TV and nightly curfews that is when the S - - T will hit the fan thank god I am well away from the Capitol . My thoughts are with the hard working Thais who strive to have a better life and who voted in there millions for a democratic government only to see it brought down yet again. 1 Link to comment Share on other sites More sharing options...
thailiketoo Posted May 23, 2014 Share Posted May 23, 2014 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> During the flooding the baht also not crashed Thai banks have enough gold in the Poket to hold baht on same level Another major misconception! The BOT and the "Thai banks " have very little control over where the baht moves. As international hedge funds, banks and investors have poured the easy money into Thailand over the past 8 years, they have had to buy baht in order to buy shares on the SET and other real estate and direct business investments, as those investments get "cashed in" theses folks will be massive sellers of the baht as they repatriate their funds. Thailand is a small country and these international investors are big players, think of Thailand like a dogs tail, and as we all know the dog wags the tail the tail does not wag the dog If Vic knew what he was talking about foreign investors would have pulled out of the SET today. Did they? Nope. Vic I hope you have a day job other than investment advice. 1 Link to comment Share on other sites More sharing options...
Suradit69 Posted May 23, 2014 Share Posted May 23, 2014 (edited) Thai Baht Gains Toward Pre-Coup Level While Stocks Drop “We view the current military coup as likely overall positive as it creates a more stable environment,” Mark Mobius, who oversees about $50 billion as TempletonEmerging Markets Group’s executive chairman, said by e-mail. “The prognosis for Thailand is good given that direct foreign investors want stability in the country.” http://www.bloomberg.com/news/2014-05-23/thailand-s-baht-strengthens-to-within-0-2-of-its-pre-coup-level.html?cmpid=yhoo Something tells me that some of the Thai Visa warriors are experiencing a Depend moment. Let's try not to embarrass ourselves individually or collectively. We may lose face, among other things. You mean Thailand is not embarrassed enough already in front of the world? Is it possible that anyone individually or collectively can out-embarrass Thailand at this point? " Is it possible that anyone individually or collectively can out-embarrass Thailand at this point?" I'm not a betting man, but if I were, you seem to be outpacing Thailand by a long way. SINGAPORE, May 23 (Reuters) - The Thai baht started the onshore market slightly firmer on Friday, a day after the army chief seized control of the government in a coup. The baht was quoted at 32.48 per dollar at 0105 GMT, after starting the onshore market at 32.52. That compared with Thursday's domestic close of 32.54. http://finance.yahoo.com/news/thai-baht-slightly-onshore-market-011229539.html Edited May 23, 2014 by Suradit69 Link to comment Share on other sites More sharing options...
northernjohn Posted May 23, 2014 Share Posted May 23, 2014 The baht won't fluctuate much, it might even strengthen. Tourist's will continue to flock here after a short period and go home spouting "oh wow, like I've been in a country where a military coup took place".....strange things attract tourists. Not only that a lot of them will go home to big cities that are not as safe as Bangkok with the protests. LOL Link to comment Share on other sites More sharing options...
northernjohn Posted May 23, 2014 Share Posted May 23, 2014 The OP may have something of a point. It depends whether you think this time is the same as the past few coups, when little damage if any was done to the Thai economy. Or do you think that the situation is more polarised than ever before, and that the mere fact of military intervention will do nothing to solve the systemic problems that Thailand now faces? In that case, the economy may well tank and the Baht depreciate over time. In any event, there is no need to do anything in a panic, in my view. My personal opinion is that Thailand now has a no nonsense leader. He will do every thing in his power to improve Thailand. He has seen coups that left gaps in the government that allowed corruption and light punishments for serious crimes even to the point of overlooking them. He knows what won't work and has ideas to fix it. Hopefully he has the proper ideas. He strikes me as a no nonsense leader who will not allow politics or laws to interfere with justice. Most people don't realize that legal and justice are not the same. Legal has allowed the treasury to be bankrupted to the point where a government with the biggest spending budget ever has been bankrupted to the point where they were asking for a 2.2 trillion baht loan with no accountability for how it is spent. It also allowed a vote that the government spent over 3 billion on knowing it was a waste of money as there could be no way of electing enough reps to have a quorum. Doesn't matter who's fault that was the point is they should not have wasted the money on it. Justice would say where did the money go and exactly what are you going to do with the money. Link to comment Share on other sites More sharing options...
realenglish1 Posted May 23, 2014 Share Posted May 23, 2014 I was also here in 2006 YAWN Nothing special This is Thai politics has little if any effect on the general economy Just get on with your life The sun rose this morning Link to comment Share on other sites More sharing options...
Suradit69 Posted May 23, 2014 Share Posted May 23, 2014 The baht won't fluctuate much, it might even strengthen. Tourist's will continue to flock here after a short period and go home spouting "oh wow, like I've been in a country where a military coup took place".....strange things attract tourists. "oh wow, like I've been in a country where a military coup took place".. Exactly. It's a photo op, just like last time. And you know the Thai Visa regulars are writing home telling them about how they're hunkered down in the trenches. 1 Link to comment Share on other sites More sharing options...
gigman Posted May 23, 2014 Share Posted May 23, 2014 It is my first experience being in such country situation. Learning past 6 month of my stay here and learning all the Thailand problems I am trying to adjust myself not to be to quickly scared of misleading information. Still , Thailand is my destination country for my retirement .... One thing is only annoying me that we non Thai do not have clear translation in army broadcast news. I just think about those who do not have or care about internet news. I m not the type to be scared so easy but thinking about others who do not have access to media and do not blame them that they do not know what happened and for how long. In my opinion army should do this very little thing and inform us in plane English if we should be worry as tourists. I am sure that it could be very well remembered if done so My movie channels are OFF air and I did not even got sorry from those who did it .... This is not the way to treat tourists . What for they transmitting now some kind of news on my movie channels now if I do not understand it.Heyyy I know it is not my business .....but at least sorry in English is not so hard to say. If in any case army will cut Internet then it will create panic and I do not know if I also will not change my plans and my thinking for near future.Simply I am living in times where luck of information is not acceptable even for less advance people ...not to mention those who wanted to come here and relax....only. For those wish to put some criticism on my taught's here....I am personally on the side of army ...for some time....555 hence it is not a point... Link to comment Share on other sites More sharing options...
Sparkles Posted May 23, 2014 Share Posted May 23, 2014 Gigman you obviously have access to a the internet ,there are a whole heap of sites that you can read what's happening.Channel News Asia, on IPM TV, is still broadcasting live with reporters on the ground in Bangkok. No one is in danger, its far safer in Bangkok, that it was 2 days ago. People including tourists are just going about their business as usual. Losing your movie channels,temporarlly will hardly cause you any long term damage will it ? Link to comment Share on other sites More sharing options...
Ve37 Posted May 23, 2014 Share Posted May 23, 2014 "Economics Crash"....I have prayed for one of those for a long time....don't hold your breath. If you live here what's the problem? Your 800k is still worth 800k tomorrow, Which I guess is for your retirement visa requirements cash? Irrespective of how the baht performs against the $, it's still 800k. You could take a punt on currency movements, but I doubt it will be worthwhile. Income from business is quite down in Chiang Mai,...all my Thai friends say things are slow,...which translates to less purchasing for them too. Closing massage shops, bars, restaurants, etc., before 10 PM may very well exasperate a weakening condition. On the other hand, if I was the military attempting to deal with "good for nothing" my way or the highway, no-compromise politicians, I would maintain the curfew,...no TV broadcasting, etc., until the "good people of Thailand" pay attention to the dis-ease affecting the Country. My question is,...does Gen Prayuth believe in "one person, one vote," or an unelected People's Counsel? There are no shades of gray. Another point mentioned throughout this thread is the statement that this is just another Coup....I disagree. Maybe past Coup were equal....this 2014 Coup is a different vehicle with a different driver. My hope is that Gen Prayuth, aware of his retirement in September, is not loyal to the minority Yellow Shirts, and instead calls for July 20 elections, with harsh penalties for any one who tries to obstruct them. Link to comment Share on other sites More sharing options...
gigman Posted May 23, 2014 Share Posted May 23, 2014 Gigman you obviously have access to a the internet ,there are a whole heap of sites that you can read what's happening.Channel News Asia, on IPM TV, is still broadcasting live with reporters on the ground in Bangkok. No one is in danger, its far safer in Bangkok, that it was 2 days ago. People including tourists are just going about their business as usual. Losing your movie channels,temporarlly will hardly cause you any long term damage will it ? Hmmm, it looks to me that you do not see my point. It is not about me at all ... 555 . You do not have to be sarcastic..... We are here on this website to help each other or have good time. Besides , I do not need it so badly ...I am spending all my time learning Thai and cooking .....and believe me I am very occupied with it lately . Thai is hard to learn ....555. anyway thanks for advise and your guidance. It will help me to pass to those who are actually calling me all day.. from Thailand and overseas and who are willing to come here. Are you sure news overseas are so correct and welcoming ??? Link to comment Share on other sites More sharing options...
smileydude Posted May 23, 2014 Share Posted May 23, 2014 I don't forsee any reason why an economic collapse should occur. The fundamentals of economic competitiveness are still there albeit with a change of guard. Thailand's foreign exchange reserves are healthy at 168,885 USD million. With a certain amount of uncertainty gone I actually anticipate the opposite. Link to comment Share on other sites More sharing options...
Emster23 Posted May 23, 2014 Share Posted May 23, 2014 OP, as others have said, don't panic. I, too, was here for the 2006 coup and it was business as usual. As Roosevelt said, "We have nothing to fear but fear itself." Very true here, now. I figure "fear itself" can be enough for most people.... haha... Wonder if net will be shut down? That could crash businesses pretty fast.... Link to comment Share on other sites More sharing options...
northernjohn Posted May 23, 2014 Share Posted May 23, 2014 Gigman you obviously have access to a the internet ,there are a whole heap of sites that you can read what's happening.Channel News Asia, on IPM TV, is still broadcasting live with reporters on the ground in Bangkok. No one is in danger, its far safer in Bangkok, that it was 2 days ago. People including tourists are just going about their business as usual. Losing your movie channels,temporarlly will hardly cause you any long term damage will it ? Yes it is safer than it was two days ago. It was safer here a week ago than in many big cities in the world. Thanks to the Army the situation will stay safe. There will be some politicians put in their place but that will not affect you other than you have to go to the internet for your entertainment. Or you can go on a tour. All the Wat's are still here along with the parks and many other scenic things. All is well and peaceful The tourist can still tour and I believe not for sure no curfew tonight. Link to comment Share on other sites More sharing options...
TheFishman1 Posted May 23, 2014 Share Posted May 23, 2014 Another person thinking The Sky Is Falling LOL life to short enjoy it just my 2 cents Link to comment Share on other sites More sharing options...
personchester Posted May 23, 2014 Share Posted May 23, 2014 Jeez man, don't panic. The bars closing at 10pm don't equate to an "economic crash". The likelihood is that the curfew will be lifted reasonably quickly once the retail and entertainment sectors start complaining... The present curfew is a problem for the businesses, but this matter will closed in due course even without any complains from those affected traders. Link to comment Share on other sites More sharing options...
sharktooth Posted May 23, 2014 Share Posted May 23, 2014 The baht has been artificially inflated for years. Bring on the crash... Link to comment Share on other sites More sharing options...
thailiketoo Posted May 23, 2014 Share Posted May 23, 2014 The baht has been artificially inflated for years. Bring on the crash... How would one go about artificially inflating a currency. Link to comment Share on other sites More sharing options...
MESmith Posted May 23, 2014 Share Posted May 23, 2014 The baht has been artificially inflated for years. Bring on the crash... Been pretty stable the last 2 days +or- 20 satang against the pound sterling. So, unless all out civil war breaks out, don't expect any significant changes. Link to comment Share on other sites More sharing options...
Popular Post Saan Posted May 23, 2014 Popular Post Share Posted May 23, 2014 (edited) The baht has been artificially inflated for years. Bring on the crash... How would one go about artificially inflating a currency. By the Thai government buying the baht when it seems to be flagging. Edited May 23, 2014 by Saan 3 Link to comment Share on other sites More sharing options...
thailiketoo Posted May 23, 2014 Share Posted May 23, 2014 (edited) The baht has been artificially inflated for years. Bring on the crash... How would one go about artificially inflating a currency. By the Thai government buying the baht when it seems to be flagging. When was the last time the government did that? What I'm saying is the government has been keeping the baht down not keeping it up. And just a small point I think you mean the Bank of Thailand not the government don't you? Edited May 23, 2014 by thailiketoo Link to comment Share on other sites More sharing options...
chiangmai2014 Posted May 23, 2014 Author Share Posted May 23, 2014 It. nervest that you can Not go out After 22 Clock And sit like a stupid in The House Shops here close at 20 Clock. Most Thai have a Stränge Look like they scare. Gesendet von meinem iPad mit Thaivisa Connect Thailand Link to comment Share on other sites More sharing options...
Mapguy Posted May 23, 2014 Share Posted May 23, 2014 Lot of idle speculation above. Check out the facts! The future? Idle speculation for the most part. If there is concern, then, I suspect, for most posters here who have expressed their worries is that they are not used to being away from "home." Perhaps they would be more comfortable to return. Of course, they might put their funds in Credit Swiss accounts. Oops! Too late to rest your savings with those crooks. How about the Royal Bank of Scotland (RBS)? Oops! You could move to Iceland or Ireland. Oops! If you are French: France? Sacré blu! Italy? Never mind! There are always the Bahamas and a couple of other refuges where you can stash your cash (after checking, of course!) Are you worried about the exchange rate of the Thai bhat? You would better cheer for chaos! Recall the halcyon days of farang pleasure with the cheap bhat post the bhat crisis, when so many innocently and misinformed people of limited resources moved to Thailand. Of course, you could always buy gold ! Link to comment Share on other sites More sharing options...
chiangmai2014 Posted May 23, 2014 Author Share Posted May 23, 2014 You can Not compare credite Suisse, Royal Bank scotland ... With Thailand. At The Moment it. Exist nö Human Fights. If they wanna arest you Or Shot You they can do it. The Economics Situation depends on The Tourist And foreigners like Pensionärs or People WHO made business here with their Thai wife. Propertys, Restaurants, Fashion, Mals, Hotels.....They all live from The Tourist And The Money from them. Be realistic Gesendet von meinem iPad mit Thaivisa Connect Thailand Link to comment Share on other sites More sharing options...
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