Is it soon the end of the 1000 bahts ?

[IMA_FARANG]

I was in Vietnam as a soldier when the U.S.  new Military Payment Certificates (MPC) which was not supposed to be black marketed was changed to a new design.

Some of the Vietnamese bar owners had full sea chests of the old design .

I was at a site where a bar owner had 20,000 dollars in the old design MPC and offered anyone who had the new design 20,000 Dollars in the old design to anyone who would give him 10, 000 dollars in the new design one day in advance of it being made legal.

There was no one who could do that as the new design was impossible to get one day before it was legally issued. Security was just to tight  with the new design notes.

So this bar owner just took his 20,000 dollars in the old design MPC and burned it in the street as it was worthless the next day.

 

 

 

[Anthony5]

3 minutes ago, IMA_FARANG said:

I was in Vietnam as a soldier when the U.S.  new Military Payment Certificates (MPC) which was not supposed to be black marketed was changed to a new design.

Some of the Vietnamese bar owners had full sea chests of the old design .

I was at a site where a bar owner had 20,000 dollars in the old design MPC and offered anyone who had the new design 20,000 Dollars in the old design to anyone who would give him 10, 000 dollars in the new design one day in advance of it being made legal.

There was no one who could do that as the new design was impossible to get one day before it was legally issued. Security was just to tight  with the new design notes.

So this bar owner just took his 20,000 dollars in the old design MPC and burned it in the street as it was worthless the next day.

 

 

 

 

If he had those MPC's I assume he received them as payment for services delivered. Why was he not able to exchange them with the US army?

[Dan5]

I've never heard anything to indicate it is even being considered. Anythings possible I suppose. Maybe they'll get rid of $100 bills to. Fantasy.

[elgordo38]

Psst they want to kill the underground cash economy and black market money, drug money and all other nefarious reasons that cash changes hands. Did you really fall for that ha ha ha. They really want to bring in negative interest rates, let you help with bank bail ins when the banks do stupid things with your money and at a touch of a button they want to do a Houdini with your money. Yes they really want to help you wink wink

[skatewash]

27 minutes ago, 12DrinkMore said:

 

The Thai language does not have two consonants stuck together as we do.

 

Bahts would be pronounced Bahtas" as in that well know "sapagetti". And as I cannot think of any Thai word that is pronounced with a soft "s" at the end, it would be "hardened" into a "t' or a "d".  So maybe "Bahtat". 

 

(I see Skatewash just beat me to it)

At the very real risk of boring to tears those not interested....

Yes, Thai doesn't allow some consonant clusters that we use in English, one being the example you gave: "sp".  Thai does have a notion of implied vowels, though.  So, Spagetti, pronounced as if it were a Thai word will sound a bit like: "Sa-pa-get-ti" with the 'a' vowel sound added between the 's' and the 'p' as it would be if it were a native Thai word.  

Another example of an consonant cluster not allowed in Thai is "st".  I was reading a document that had been transliterated into English from Thai and I ran into the word "stang".  I had no idea what that was.  Stang!?!  What is that? Finally, from context I figured they must be talking about "satang" or 1-100th part of a Baht.  In this Thai word the 's' and 't' consonants are together without an explicit 'a' vowel between them (the vowel instead is implied).  So when "satang" in Thai gets transliterated to English you get "stang" rather than the better approximation of how it's actually pronounced which would be closer to "satang."  So you can blame the Thai to English transliteration system for those kind of mistakes, too.  It makes it easy to do the transliteration but at the expense of butchering the pronunciation in some cases.

This also explains why you will sometimes hear Thais talk about "sa-traw-be-ree" ice cream and people named "Sa teve" rather than strawberry and Steve.  Of course Thais are capable of saying strawberry and Steve with correct English pronunciation but sometimes their innate fluency with the Thai language can mean they are misled to mispronounce some words, or rather, pronounce the English word using Thai pronunciation.

This goes both ways, of course.  No English speaker has a problem with pronouncing the consonant cluster 'ng' as in sing.  But interestingly this 'ng' consonant cluster is restricted to coming at the end of syllables in English words.  They have the same 'ng' consonant cluster in Thai, but in Thai there is no restriction about where it can appear in a syllable.  So, in Thai it's perfectly normal to have 'ng' start a syllable like in the word "ngu" (meaning snake), which English speakers often convert to "nu" (meaning mouse) because it's not normal in English to begin a syllable with "ng".  Add on top of that problem that English uses tone to change the meaning of a sentence, while Thai uses tone to differentiate between words that would otherwise be pronounced the same, and it's no wonder Thais have problems understanding English speakers when we make all these mistakes trying to speak Thai.

[spidermike007]

Modi has created an unmitigated financial disaster in his country. As Manmohan Singh, the very competent former finance minister and PM said, his ideas are terrible, completely off base, and without merit. To do that here would absolutely cripple the Thai economy, which unlike the Indian economy, is already teetering on the brink. 

[dotpoom]

On 04/12/2016 at 1:27 PM, daveAustin said:

When did India get rid of the rupee? 

Isn't he talking about a certain denomination note, not a currency? 

[smotherb]

2 hours ago, Jesse123 said:

Maths, short for mathematics not mathematic.

Math and maths are equally acceptable abbreviations of mathematics. The only difference is that math is preferred in the U.S. and Canada, and maths is preferred in the U.K., Australia, and most other English-speaking areas of the world.

Neither abbreviation is correct or incorrect. You may hear arguments for one being superior to the other, and there are logical cases for both sides. One could argue maths is better because mathematics ends in s, and one could argue math is better because mathematics is just a mass noun that happens to end in s. In any case, English usage is rarely guided by logic, and these usage idiosyncrasies are often arbitrary. If you were raised in a part of the world where people say maths, then maths is correct for you, and the same is of course true of math. Don’t listen to anyone who says otherwise.

 

http://grammarist.com/spelling/math-maths/

[Prbkk]

The €500 is going soon. And so many fake €100s and 20s that just about every coffee shop and store in Europe has a fake note detector. The Brits did well to avoid the Euro: apart from any other consideration, Sterling is still the most attractive currency.

And they say that just about every US note in circulation has cocaine traces ( I've sniffed them from time to time but never noticed anything).

[LALes]

Every US note has coke traces?  Even one dollar bills?  Who'd want to snort coke from a one dollar bill!  No glamor there.

 

As for the 500 Euro note, it is called the "Bin Laden" because of its use by jihadists in financing their missions.   At least that is the 

reason given for wanting to get rid of it.

[theswedishguy]

Just a hint to OP:

Money in most countries have no real value.

For example USA/Most EU countries only 3% of total amount of money is physical money. The rest is virtual money. US people think their money is protected by the Federal reserv, but they forget that 97% is just "air".

 

This system is why we have economic crisis every 10 year and why the 1% gets richer and richer. 
The secret is this: Most countries have fragmented lending. If you take a loan for 100 dollars, the bank only have to have 10 dollars. Suddenly 90 dollars is created in thin air and you have to pay interest for it. Best business idea ever.

 

Since the loan amount + interest exceeds the physical printed money its technically impossible to repay all loans. 

 

Fragmented banking is in most countries just 55 years old. Before that money had real value in gold/assets. 

This leads to economic crisis when the banks don't have enough real money to lend out more money. That is the real reason for 2008 crash. Suddenly the banks didn't have enough money and had to stop lending. Forcing people to sell houses/shares/assets. Since no one could get a loan: the value plummets and the banks could get housing/assets for a fragment of their value.  Officially they had a "loss", and this loss is used as a tax write-off for the banks. Funniest thing is to "save this system" all western countries gave the banks money. Exempt Iceland that put the bankers in jail. (and the media, that is owned by the same people as the banks in west keeps this very quit. Today with EU crisis: Island is blossoming) 

 

Since lending gets larger and larger in west, the governments print more and more money to avoid bank crashes. Most EU countries have doubled its physical  money in 10 years. There you have the real reason for the plummeting Euro.

 

Now: Thailand is great with low amount of loans and huge amount of currency. 

In most EU countries banks today don't even have money. Everything is done by card. Why? So the banks can control the money flow since they have to have 10-15% in real cash. Another plus is that credit card companies/ PayPal and such gets 3-5% of each transaction.  Our "great" politicians in EU have banned businesses to charge consumers for these 3-5%, so everyone we buy something in west there is a hidden 5% bank tax.

 

The most absurd thing is this: In most EU countries money is gone. Bills payed over internet. Food bought with cards. Most countries have limit how much money you can get from the banks. (In Sweden for example its 2500 euro/month, If you sell a house for 300K, you can't get this money.Its impossible. Only 2500 euro per month). The absurd thing is that printed money is larger then ever to cover for the banks loans.  Each year EU countries print 10% more currency and there is no money in society. Where is all this money stored? Banks in Sweden for example have no money.

 

Money laundering is nothing. 

This is brainwashing from "ThePower". Why they want to remove money from society. (to curb "crime"). In real life its to control the people and make the bankers more rich.

 

Just take the 3-5% fee that CC cards take. Imagine if the state instead issued these cards and got 3-5% each sale? They could lower taxes and so on... But... In west, where there is no democracy: The Power/Media/Banks and politicians are the same. Its the same less than 1% that own 80% of the worlds all assets.

 

Hunger/healthcare/School for all the world could be solved if the richest 400 person shared their wealth. Money they got from lending out money that don't exist and get interest for it. 

 

Please wake up!  Fight the power in west. 

(and here is why muslims are "hated" in west. Islam: 0% interest. Western media is owned by??? Yes,,, people who have an agenda against the muslims. Always be critical. Wake up)

 

[ExpatOilWorker]

Money laundering is when the Baht takes a bath. 

[louse1953]

Glad that you have no idea.Very rare to hear about counterfeit money here and when you do they are poor copies and don't get far.

[jasonsamui55]

4 hours ago, malt25 said:

This isn't meant to be a flame ... but, why do people say "bahts" ?

1 baht, 2 baht 1,000 baht. No such thing as bahts.

So true but better than those who say bath or baths, as in "this costs 100 baths." Personally, I'd rather pay 100 showers ?

[Chicksaw]

I just got back from India. Ordinary folk I talked to, taxi drivers, wage workers, et al, have no problem with the move. They may have  had a few large bills at home which they had to stand in a line a bit  to change at the bank. Not an issue. They felt the hassle was for a good cause.

 

Not so politicians, real estate promoters, jewelers, and such who have millions, some cases tens/hundreds of millions of rupees of black money in cash stuffed in bank lockers and in suitcases under the stairwell. They're screwed. Good.

 

But India needed this given the level of corruption and the size of their parallel under-the-table economy. I doubt the situation is half as bad in Thailand.

[Naam]

3 hours ago, 12DrinkMore said:

The Thai language does not have two consonants stuck together as we do.

Bahts would be pronounced Bahtas" as in that well know "sapagetti".

there are more languages who's native users have problems to pronounce two following consonants or a word ending with a consonant. in Japan and arabic speaking countries you wipe your nose with a tissue called "keelinekis" and in India and Pakistan you don't watch a movie but a "fillum". ina Italy alla the worda musta havinga a vowela ata the endinga. that appliesa for nama too

[cyberfarang]

Soon they will be making new coins and notes with the image of our new King Rama X (I think). And whether they will conveniently forgot to make any 1000 baht notes is anyone`s guess. 

[IMA_FARANG]

Sorry at the time the MPC in Vietnam was only for legal use by U/S. military and not Vietnamese nationals.

However there was a large illegal Black market in MPC notes.

That is where Vietnamese bar owners got the MPC and why  the U.S. military wanted to change them to a new series to invalidate the old MPC notes circulating in the Black market.

 

[connda]

All Prayut needs to do is look at the complete mess Modi made of India and that idea shouldn't fly.  Anyway, Thais need all those pretty bills to make 'money trees' to give to the wat.  Take the money away and they couldn't make bun properly. 

[chilli42]

 

Elimination of larger denomination notes in India has nothing to do with corruption and black money.  That is only misdirection.  The real intent, as it is in Europe, is far more sinister.

[AlexRRR]

On 04/12/2016 at 7:45 PM, pattayalover said:

I think Thailand will go all digital money like Sweden.
It s time to embrass technology. Don't you think?

 

Funny boy.....yeah yeah....like your going to get street vendors accepting your credit card to pay for a 35B meal....

[akentryan]

12 hours ago, swissbie said:

You're right about the plural,  but all Thais i know don't have a problem with the pronunciation of the "s", except the ones who lost their teeth.

Ask them to pronounce squirrel. Sa Curl most likely, at least the ones I hang with

[malt25]

15 hours ago, 12DrinkMore said:

 

There are no plural nouns in Thai.

 

Thais cannot pronounce the "s".

I think you are missing my point. I'm guessing the OP was written by a non Thai. I'm not commenting on Thais using their own language.

I'm questioning why non Thais say "bahts".

[12DrinkMore]

6 hours ago, AlexRRR said:

 

Funny boy.....yeah yeah....like your going to get street vendors accepting your credit card to pay for a 35B meal....

 

If you could pay by smart phone I reckon it would be a good marketing gimic. 

[12DrinkMore]

14 hours ago, theswedishguy said:

US people think their money is protected by the Federal reserv, but they forget that 97% is just "air".

 

They think the money is protected by the FDIC, although the value is effectively protected by the economy and the millitary powers.

 

14 hours ago, theswedishguy said:

The secret is this: Most countries have fragmented lending. If you take a loan for 100 dollars, the bank only have to have 10 dollars. Suddenly 90 dollars is created in thin air and you have to pay interest for it. Best business idea ever.

 

It is called fractional reserve system. But it is worse. The banks do not have to have 10%. As long as the borrower and lender are willing partners a loan can be issued without any 10% reserves. 

 

14 hours ago, theswedishguy said:

Since the loan amount + interest exceeds the physical printed money its technically impossible to repay all loans. 

 

Fallacy. The interest on the debt that is paid to the bank is returned into the economy through wages and expenses.

 

The big problem comes with delinquent loans, where the capital cannot be repaid.

 

 

14 hours ago, theswedishguy said:

Fragmented banking is in most countries just 55 years old. Before that money had real value in gold/assets. 

 

Nope.

 

Fractional reserve lending has always taken place. Since day 1 there was never enough physical gold to back the claims on it. As long as people thought there was, all was OK.

 

 

14 hours ago, theswedishguy said:

This leads to economic crisis when the banks don't have enough real money to lend out more money. That is the real reason for 2008 crash.

 

Nonsense. 

 

The crisis started in the shadow banking sector when the value of all the collateral provided to borrow liquidity was called into queston. The finance institutions did not trust each other and stopped providing liquidity. Without liquidity everything grinds to a halt and assets have to be sold to pay bills.

 

14 hours ago, theswedishguy said:

 Funniest thing is to "save this system" all western countries gave the banks money. 

 

It was necessary to keep the global finance system running. That is what central banks have to do in a banking crisis.

 

14 hours ago, theswedishguy said:

Now: Thailand is great with low amount of loans and huge amount of currency. 

 

Little do you know. Private sector debt is an issue in Thailand.

 

14 hours ago, theswedishguy said:

In most EU countries banks today don't even have money.

 

You need to be a little bit more precise with the definition of what money is.

[AlexRRR]

56 minutes ago, 12DrinkMore said:

 

If you could pay by smart phone I reckon it would be a good marketing gimic. 

 

Obviously you dont spend much time in Thailand......smart phone? connected to the net? 

 

Thai street vendors arnt dirt poor might even own a simple smart phone and probably even have a cheap plan for mobile net but they wouldn't be making millions kid....

 

Long way to go before they get like the west....cash is king, even my last TGF very good job good salary etc and tech savie with an iPhone 6 still payed her bills by cash when i asked about internet banking she said yes i know about it, if the middle class dont want to adopt something like that you think a semi illiterate street vendor is going to use Apple pay for you 45B pad thai?

[Time Traveller]

21 hours ago, malt25 said:

This isn't meant to be a flame ... but, why do people say "bahts" ?

1 baht, 2 baht 1,000 baht. No such thing as bahts.

This isn't meant to be a flame....but, why do people spell "baht"?

1 bath, 2 bath, 1000 bath.....the correct transliteration of the Thai characters for the word is Bath. Even a phonetic translation would be Bart

[Grubster]

On 12/4/2016 at 3:45 PM, pattayalover said:

I think Thailand will go all digital money like Sweden.
It s time to embrass technology. Don't you think?

No I do not think, and I don't think you would do that to your grandfather would you? Elderly people have a hard time with change and in this country they haven't mastered the telephone yet. I can't imagine what would happen to the millions here that cannot read and write. I do not trust a computer with much as there are many flaws already in this and then don't forget there will be fees for every transaction, maybe not at first but as soon as the people are dependent on it there will be. I wish the US dollar was still backed with gold but I am a bit old fashioned I guess.  How would you buy anything if the power was out?, Computer system down? All your money would have to be in the bank no matter what?  Seems like a really good thing for the banks. I think if they cannot perfect a bill that you can't counterfeit than go back to silver coins.

 

[12DrinkMore]

3 hours ago, AlexRRR said:

 

Obviously you dont spend much time in Thailand......smart phone? connected to the net? 

 

Thai street vendors arnt dirt poor might even own a simple smart phone and probably even have a cheap plan for mobile net but they wouldn't be making millions kid....

 

Long way to go before they get like the west....cash is king, even my last TGF very good job good salary etc and tech savie with an iPhone 6 still payed her bills by cash when i asked about internet banking she said yes i know about it, if the middle class dont want to adopt something like that you think a semi illiterate street vendor is going to use Apple pay for you 45B pad thai?

 

I do not know anybody in Thailand without a smart phone and a Facebook account, except for maybe old farmers up in the rice fields.

 

As a marketing gimic I reckon it could work in places like Bangkok and Chiang Mai.

 

The Thais are not as poor as you seem to think. Looks are deceptive, just go and sit at a busy street restaurant and work out the turnover/profits. No taxes, all cash in the pocket.

[AlexRRR]

1 hour ago, 12DrinkMore said:

 

I do not know anybody in Thailand without a smart phone and a Facebook account, except for maybe old farmers up in the rice fields.

 

As a marketing gimic I reckon it could work in places like Bangkok and Chiang Mai.

 

The Thais are not as poor as you seem to think. Looks are deceptive, just go and sit at a busy street restaurant and work out the turnover/profits. No taxes, all cash in the pocket.

 

You dont get it....if they not keen on internet banking you think there going to use Apple Pay or the like? try and tell a street vendor he's going to have a mobile net plan and cough up for a gizmo to swipe plus pay what ever the % is to Apple for the privilege of them to collect the fee?

 

They dont need a marketing gimmick there doing just fine...