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atl
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KK,
certainly...just change out 100 bucks at the airport and hit a thai farmers bank when you get settled..for some reason I have faith in thai farmers...
I was in your boat and debated about cash/TC after finding out that my thai bank account was closed after 2 years of no activity....I took 3 K and was scared as hell but with luck never had a problem or had to pay any fee's.....
have fun,
atl
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 3:40 pm on Dec. 16, 2006
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Mr Alan
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Quote: from atl on 5:04 pm on Dec. 16, 2006
I was in your boat and debated about cash/TC after finding out that my thai bank account was closed after 2 years of no activity....I took 3 K and was scared as hell but with luck never had a problem or had to pay any fee's.....
The exchange rate for TC's is better than cash (because the banks have to worry about counterfeit money), so even after the TC fees, you come out almost exactly the same as cash, but with a refund if you loose the TC’s. This assumes that your TC’s are in denominations of at least $100 each (because the fee charged to cash them is per check).
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 4:53 pm on Dec. 16, 2006
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Mel Gibson
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The US$ Vs Baht exchange rate is still bad 35.3.
My guess is that the US has basically said " we have complained about the Yuan being way too low and hurting us and no-one has done anything,, ok lets de-value the dollar and thus the Yuan to a point that it will hurt everyone and then see what happens.
AT some point along this line something has got to break,,,,, we have just seen Thailand bring in the 30% ruling as its response to the problem,,, what next ?>?
Europe has hostile import taxes that exclude fair trading, so imported goods often have such a huge tax applied that they are able to subsidise their own farmers. How can it be feesable for a governemnt ( France for example) to subsidise each cow with sufficient funds for it to have a world trip first class? Surely common sense should prevail? NO,, humans love to destroy any idea of sense.
The savour may be India, it has sufficient numbers of people to be a direct competitor with China and this may bring about an exporting war and ultimately see some sense in exchange rates / subsidies realised.
Farked if I know whats going to happen but I see an eruption brewing.
Mel
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Thai Girls : Meet Sexy Thai Girls
Posted on: 12:26 am on Dec. 29, 2006
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madfrog
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How can it be feesable for a governemnt ( France for example) to subsidise each cow with sufficient funds for it to have a world trip first class?>>>I live here and still wonder about this and many other non-sense about our agriculture...Nowaday French farmers are spending about 40% of their time filling damned paperwork for everything they do, weither it be to receive money or to be simply allowed to do their job. I know the case of a 67 years old farmer who want to retire but still keep 2 cows to make his own milk and butter, well, he simply cant get his monthly retirement paycheck if he keep any cow. An old farmer who wants to keep 2 cows, illegal???? THIS IS MAD!
Madfrog
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 3:21 am on Dec. 29, 2006
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DaffyDuck
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Quote: from Mel Gibson on 2:50 pm on Dec. 29, 2006
The saviour may be India, it has sufficient numbers of people to be a direct competitor with China and this may bring about an exporting war and ultimately see some sense in exchange rates / subsidies realised.
India won't be the answer.
Their unskilled labor force is too skilled, and is being paid too much (to place things in perspective, even if Indian laborers were being paid one cent a week more, it would make products 'too expensive' for American 'businessmen'.
The current devaluation of the dollar, as you rightfully state, won't be for long. Eventually, something has got to give.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 3:47 am on Dec. 29, 2006
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Mel Gibson
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Madfrog,, That's a great example of bureaucracy gone mad. Don't worry France isn't the only place that things like that are happening, madness seems to be spreading a lot faster than any bird-flu.
Mel
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 3:47 am on Dec. 29, 2006
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Ballsburstin
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Wondering if any of the bro's are seeing this scam from Bangkok Bank:
I gave my TGF an ATM card from a local USA bank about a half year ago. I have two accounts in this USA bank, so I can transfer money from my account to hers (but she can only withdraw from that account, it has very limited privileges).
Today she went to pull out money to pay for her new apartment and kept hitting the "Withdraw from Savings" button. It's a checking account, so of course that didn't work. Out of frustration, she hit the "Quick Cash" button, and out popped 10K baht. Not a problem, as that's about what I send her monthly now (a little less, actually).
But when I checked online with my local bank to see what exchange rate she got (the official rate is 36.1 baht/1 USD today), it worked out to 30.1 baht per 1 USD, in addition to the foreign ATM fee and the 2% exchange rate my bank charges for these kinds of transactions.
This is the first time I've see Bangkok Bank skim 6 baht (16%) off the exchange rate. Has anyone else experienced this lately?
- Balls
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 9:57 pm on Dec. 29, 2006
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PussyLover 69
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Report from Bangkok Post dated Saturday 30 December 2006 :-
A boisterous year for the baht - Massive appreciation pushed the govt to take drastic measures
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For months, Thailand's central bankers had been warning the financial markets that the baht had been appreciating too fast. The currency had been one of the best-performing in the world in 2006, with a gain of over 15% for the year to mid-December when the rate reached a nine-year high of 35 baht to the dollar.
Exporters and economists alike cried for help, noting Thailand's export competitiveness was being hurt due to razor-thin margins and the fact neighbouring countries had seen their currencies gain by less than half against the dollar.
On Dec 18, the Bank of Thailand struck back with the most significant change to the country's foreign exchange system since the 1997 float of the baht.
Capital inflows would immediately be subject to a 30% reserve requirement, meaning that foreigners bringing in $100 would have to set aside $30 with the Bank of Thailand. The reserve will be returned without interest if held within Thailand for at least a year, with shorter-term investments hit with a 10% penalty.
The stock market the next day crashed 14.84% in the largest one-day decline in the market's 31-year history. Analysts and investors were aghast that the central bank would impose draconian controls with so little regard for the Thai capital market, as officials kept the measures secret from both the Stock Exchange of Thailand and the Securities and Exchange Commission.
The severe shock to the stock market prompted the authorities to backpedal the next day. Foreign investments in the stock market were exempted from the reserve rule, although funds would have to be maintained in dedicated accounts and would be prohibited from being transferred to the bond market.
Local and foreign investors alike poured scorn on the flip-flop, even as the central bank was put on the defensive for its haphazard communications strategy with market participants. Banks and brokers alike remained uncertain about what types of transactions would be covered under the rule, adding to uncertainties.
Despite the criticism from financial market executives, both M.R. Pridiyathorn Devakula, the finance minister, and Tarisa Watanagase, the central bank governor, maintained that the measures were critical for protecting the economy's stability.
Investors _ and currency speculators _ had poured into the Thai market in December, with inflows of $950 million in the first week of the month compared with an average weekly inflow of $300 million in November. This despite the fact that on Dec 4, the central bank had imposed sharp restrictions on financial institutions in trading debt securities with non-residents.
Without the new reserve measure, M.R. Pridiyathorn argued, the baht would have fallen well past the 35 barrier, possibly trading as low as 32 to 33 to the dollar and potentially devastating the country's exports entering 2007.
At the central bank, Dr Tarisa insisted that while authorities had no firm target for the baht, the intervention had succeeded in ''breaking the momentum'' of the baht's appreciation and introducing uncertainty in the currency that upset the ''one-way bet'' of speculators that had existed for much of the year.
The capital controls would be reviewed again within the next few months, and could be eased or revoked once market conditions returned to normal, she said.
By year-end, the central bank had largely attained its goal for a weaker baht, albeit for a short while. The unit traded at 36.8 to the dollar by Dec 28, although the rate was distorted by thin activity due to the holiday season.
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Thai Girls : Meet Active Thai Girls
Posted on: 10:53 pm on Dec. 29, 2006
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Ballsburstin
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PL,
Interesting update on the state of chaos with the baht. Still doesn't seem explain the 16% skimming she saw yesterday, as that percentage doesn't correspond to anything I've seen. The ATM was located in the Tesco Lotus complex right off the Onnut BTS stop. I've pulled money from there many a time and have not seen this level of graft before. I wonder if the store is now taking a cut because of the location of the ATM?
I'll ask my TGF to pull money from the ATM in front of the Landmark at the end of January 2007, and report back with the results.
- Balls
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Thai Women : Meet Matured Thai Women
Posted on: 10:00 am on Dec. 30, 2006
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Evil Penivel
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Ballsburstin-
It may have to do with extra fees tied to the Quick Cash function. You might want to check the terms of your account, it's possible there's a big penalty for making a Quick Cash withdrawal outsidse the U.S.
Evil
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 10:46 am on Dec. 30, 2006
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