rubl
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The wondering type
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Post by rubl on Jul 25, 2020 10:23:13 GMT 7
Time for a wee song, , keep the printing presses churning out those worthless dollars, reminds me of Germany and the EU. .. clip .. When was the last time an team of independant auditors carried out an inventory check in Ft Knox? You might have notice that the GBP/THB rate improved because the GBP/US$ rate improved but you might have missed that the GBP is under 1.10 euro again. It has been 1.20 earlier this year, just after Britain left the E.U.
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siampolee
Detective
Alive alive O
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Post by siampolee on Jul 25, 2020 10:48:46 GMT 7
Pray what connection is there twixt the Euro and the Thai baht and the Pound sterling in the current thread? Any explanation that might explain the logic of the comment?
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chiangmai
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Post by chiangmai on Jul 25, 2020 11:08:54 GMT 7
Time for a wee song, , keep the printing presses churning out those worthless dollars, reminds me of Germany and the EU. .. clip .. When was the last time an team of independant auditors carried out an inventory check in Ft Knox? You might have notice that the GBP/THB rate improved because the GBP/US$ rate improved but you might have missed that the GBP is under 1.10 euro again. It has been 1.20 earlier this year, just after Britain left the E.U. Discussions about the Euro are off topic since neither the UK nor the Pound have anything to do with it any longer. For trying to derail the thread you have been Brexit'ed and awarded a five day posting holiday in the hope you will have time to read the forum rules and consider further your behaviour.
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rubl
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The wondering type
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Post by rubl on Jul 25, 2020 13:41:56 GMT 7
You might have notice that the GBP/THB rate improved because the GBP/US$ rate improved but you might have missed that the GBP is under 1.10 euro again. It has been 1.20 earlier this year, just after Britain left the E.U. Discussions about the Euro are off topic since neither the UK nor the Pound have anything to do with it any longer. For trying to derail the thread you have been Brexit'ed and awarded a five day posting holiday in the hope you will have time to read the forum rules and consider further your behaviour. All fine, but when discussing economy and money brexit or Brussles Dictators are just additional risks you have to be aware off whatever your principles.
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chiangmai
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Post by chiangmai on Jul 25, 2020 13:50:26 GMT 7
Discussions about the Euro are off topic since neither the UK nor the Pound have anything to do with it any longer. For trying to derail the thread you have been Brexit'ed and awarded a five day posting holiday in the hope you will have time to read the forum rules and consider further your behaviour. All fine, but when discussing economy and money brexit or Brussles Dictators are just additional risks you have to be aware off whatever your principles. Not wishing to appear a knob but can we limit the thread to Thailand's Economy please? If we start to get into other economies and financial systems or into the political affiliations of the Thai government, it all gets to be unmanageable and loses focus. And for continued bickering your post holiday is now extended to ten days.
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rubl
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The wondering type
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Post by rubl on Jul 25, 2020 13:55:48 GMT 7
All fine, but when discussing economy and money brexit or Brussles Dictators are just additional risks you have to be aware off whatever your principles. Not wishing to appear a knob but can we limit the thread to Thailand's Economy please? If we start to get into other economies and financial systems or into the political affiliations of the Thai government, it all gets to be unmanageable and loses focus. And for continued bickering your post holiday is now extended to ten days. if rgs hadn't inserted that "worthless dollars, reminds me of Germany and the EU." I would not have said anything. Now I felt the need to indicate that when investing you should try to be objective. Of course, if you think that I should push for green investment and against 'dirty' industry and inhuman fishing fleets, etc., etc. instead, in Thailand context as well ... ...
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chiangmai
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Post by chiangmai on Jul 25, 2020 14:26:47 GMT 7
The question was asked, what would be the impact on the Thai economy if all the foreigners were to up and leave en masse:
I doubt that anyone knows how many foreigners live in Thailand, estimates are between 4 and 5 million but this includes large numbers of people from neighbouring countries and also large numbers of Chinese. But there are thought to be around 200,000 westerns living in Thailand so for the purposes of answering the question, that’s the number I’ll use, if you want to use a different number, go for it.
Foreigner visa’s for Thailand require either 400k or 800k in the bank, that’s broadly 35k to 70k per month based on whether married or single. I’m guessing that only around 10% are married so the monthly living costs will be weighted heavily to the upside. Let’s say that the average spend across the 200,000 is 700K per year plus one offs such as cars, houses and other big ticket expenses.
Where that takes us to is, 200,000 x 700,000 or about USD 4.5 Billion. Knowing that some of you are high rollers and to allow for one-offs and big ticket expense I suggest adding a generous 50% to the total, that brings us up to about USD 6.8 bill. Or about 1.25% of GDP (540 bill).
Using the above I conclude the impact is almost non-existent in terms of financial impact.
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rubl
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Post by rubl on Jul 25, 2020 14:35:11 GMT 7
"the impact is almost non-existent in terms of financial impact"
Other aspects may effect that financial impact. Regarding Westeners it would depend on the reason for departure. If only their own financial status was the main reason the effect would be near zero. If it's "Foreigners go home" protests the effect would be greater due to image, insecurity & instability of the country and various other aspects.
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chiangmai
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Post by chiangmai on Jul 25, 2020 15:50:36 GMT 7
I have posted over at the other place since 2006 as chiangmai, simoh1490, saengd and most recently as Trillian, on occasion, I have had other friendly posters post things on my behalf in order to keep my identity lower profile. A few months ago I asked another poster to post the question I have just answered but it took over fifteen pages of posts to get anywhere close to a sensible answer. The problem is those farangs significantly overestimate their worth and value to Thailand but really they are just big fish in small rural ponds. The other problem that arises in asking that question is that most posters immediately go down the social and welfare route, "what will happen to all those poor and impoverished rural poor that we live with and support", most are unable to separate the economic impact for the social and welfare impacts. I don't mean to appear a "pompous prick" but asking the question reveals more about the type of farangs in Thailand than anything else, that's why I think it's so interesting.
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AyG
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Post by AyG on Jul 25, 2020 17:08:14 GMT 7
asking the question reveals more about the type of farangs in Thailand than anything else Surely, it reveals more about the type of farangs that participate in that forum than about farangs in Thailand in general.
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chiangmai
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Post by chiangmai on Jul 25, 2020 17:12:18 GMT 7
Yes, possibly, although I suspect TVF members might be representative of the whole. ...and don't call me surely.
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Post by rgs2001uk on Jul 25, 2020 20:19:42 GMT 7
Not wishing to appear a knob but can we limit the thread to Thailand's Economy please? If we start to get into other economies and financial systems or into the political affiliations of the Thai government, it all gets to be unmanageable and loses focus. And for continued bickering your post holiday is now extended to ten days. if rgs hadn't inserted that "worthless dollars, reminds me of Germany and the EU." I would not have said anything. Now I felt the need to indicate that when investing you should try to be objective. Of course, if you think that I should push for green investment and against 'dirty' industry and inhuman fishing fleets, etc., etc. instead, in Thailand context as well ... ... No worries my dutchy friend, broad shoulders and and a thick skin, water off a ducks back (no pun intended) etc etc. Worthless $$$, , The Wizad of Oz anyone, or how about Bretton Woods? en.wikipedia.org/wiki/Bretton_Woods_systemHow about some of this, en.wikipedia.org/wiki/Exorbitant_privilegeGermany, , en.m.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic?fbclid=IwAR1yTBnZ30BFPfdNl-Ypu6kkBcTSiSMVuo9qd4T_w_PhRA_okBmk8VcbNsQEU, kop for some of this, www.bbc.com/news/world-europe-53429064
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Post by rgs2001uk on Jul 25, 2020 20:26:47 GMT 7
I have posted over at the other place since 2006 as chiangmai, simoh1490, saengd and most recently as Trillian, on occasion, I have had other friendly posters post things on my behalf in order to keep my identity lower profile. A few months ago I asked another poster to post the question I have just answered but it took over fifteen pages of posts to get anywhere close to a sensible answer. The problem is those farangs significantly overestimate their worth and value to Thailand but really they are just big fish in small rural ponds. The other problem that arises in asking that question is that most posters immediately go down the social and welfare route, "what will happen to all those poor and impoverished rural poor that we live with and support", most are unable to separate the economic impact for the social and welfare impacts. I don't mean to appear a "pompous prick" but asking the question reveals more about the type of farangs in Thailand than anything else, that's why I think it's so interesting. Wow, much respect, a higher tolerance level to fools than me, i learned a long time ago not to bang my head against some other buggers wall. As for farangs in thailand, in my humble opinion they can be broken down into two categories, pre and post tom yam kung. I got fed up banging my head against a wall and telling the johnny come lately retired taxi drivers from torremolinos, thailand, was not, is not and never will be a cheap place to retire to, my attituide now is, chang man.
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chiangmai
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Post by chiangmai on Jul 25, 2020 20:52:24 GMT 7
Moving right along......the next question we will try and answer is.....by how many percentage points does the average IQ of the nation increase when Metisdead leaves Thailand and does this account for the periodic spikes in GDP.
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Post by rgs2001uk on Jul 25, 2020 20:57:27 GMT 7
Yes, possibly, although I suspect TVF members might be representative of the whole. ...and don't call me surely. I beg to disagree, you find your own level, birds of a feather and all that, the majority of farangs i know in thailand would be aghast if they were ever to be thought of in that way, in fact the majority of them are too busy working 60+ hours per week to have time to post on any forum, never mind tvf. On this little mickey mouse forum, i have met most of the lads that post, and not one of them is representative of those who post elsewhere. A few years ago, I met my nemisis, turned out we had more in common than both of us would care to admit,i will give him his due, he did apologise and admit, he didnt have a effin clue what he was talking about, he was just a troll and shit stirrer, to this day, he is a dammed good friend, as are many of the others on here. Too cut a long story short, we on here either live here full time, or have a long standing history of visiting here, not like the two week millionaires and I bought my mrs a buffalo farm coz its thai tadition types.
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