Baht What up with Dat?????

[aznyron]

Jack I agree with you that the way I understood it no set amount on Retired visa just a letter from your embassy showing 65k + a month pension or 800K deposit in thai bank now I am on married visa but before I was on a retired visa and no one told me I had to bring in 65K a month I just had to show them I had a thai bank account and I was bringing in money no amount set now on a married visa I have to show 40K a month

[BKKSTAN]

I have an English friend that is on a marriage visa and he extended a couple of days ago with ''Mr.Happy''.He didn't show the 40K a month income and only had 30k in the bank!He told them that the drop in the exchange rate has caused his income to go under 40K a month!

They said''No problem ,we can help'' and computed it at a higher exchange rate to qualify!

[aznyron]

Stan maybe he got a little that morning I am in agreement with GIT
you can not go by one or two days but in the long run I suspect the bot will fail
it just that like most of us we are getting impatient watching the YO YO

[lepidoptra]

Jacksprat
I agree with you that the legislation states that you only have to show proof of income (letter from embassy). However you try to explain that to the immigration at Nong Khai ! They seem to have a set of their own rules I was also told you only have to show that you have some money in a Thai Bank but on my last visit they still insisted I show evidence of overseas monthly transfers into the Thai bank.
Anyone else had the same experience?
regards

[jackspratt]

lep did they ask you to show 65k in monthly transfers, or just evidence of some transfers?

[lepidoptra]

Hi Jack
They asked me to obtain a letter from SCB showing my monthly transfers. In addition if course they took a copy of my Embassy letter which showed the required amount. They then added up all the transfer money for the past year. They didn't comment on the amount but seemed satisfied and after I produced the Wifes blue book they gave me the 1 year extention. So I'm sorry I can't really answer your question. I do know that other expats on my estate also have shown their monthly trasfers. Either 40000 or 6500 baht with the letter from the embassy. As you and I said before, the legislation does state only proof of income or pension. I think it depends on what they had for breakfast
cheers

[bumper]

For the past five years immigration has required a letter from your bank showing the monthly deposits and a copy of your bank book pages for the year.

Never forget the section that says it up to the officers descreation, sounds as if at least in one case that worked to the applicants advanatge.

By the way that is using the monthly method,

Proabaly has a lot to do with your approach, go in demanding and quoting laws they are not going to be receptive.

It sounds as if the Officer took into consideration the house purchase, thats good, Obviuosly he didn't have to.

The dollar has defiently been a yoyo this week.

I noticed that the guys with Euros are geting a better dollar rate then a fwe weeks ago. Is that being reflected in the baht exchange rate?

[aznyron]

well yesterday the Thai Banks drop % rate to TWO percent and the thai baht some how gained on the USD
now it below 35 when the USA or the UK does that the USD/GBP some how get weaker but not so for the thai baht I guess they are going to play that game for as long as they can hopefully it will not last to much longer

[aznyron]

what up the USD is falling like a rock or is it they are buying the euro because it gaining on the baht

[BKKSTAN]

And us experts say

[aznyron]

Stan they are giving us our Christmas present early it called a hosing right up the butt maybe we will give them a good Saint Patrick day gift eviction letter from the world currency market

[BKKSTAN]

NO no Ron,not another conspiracy?

[aznyron]

it conspiracy it a conspiracy I know it a conspiracy trust me Stan I know

[bumper]

Patience Ron the fat Lady ain't singed yet.

Thailand is in a honey moon period right now. There are already new political rumblings. According to the Thai news tonight channel three Thailand is now rated as the 7th most dangerous countries in the world. Hard to believe that but, hey it's their news.

Your not hearing things like we will do just fine, we are now hearing a high possibilty of being the red next year.

Dollar go figure I would have thought saving 100's of thousands of jobs would have given it strength. Apparently not so.

Euros doing well and the pound is still dropping.

My guess these days no one has a clear direction and we will see lots of ups and downs. As to Thailand it obvious they were burying thier heads in the sand and are not prepared for what everyone else seemed to know was coming. There will be prices to pay for that.

[bumper]

May be the shortest honeymoon on record. Just read an artilce that DAAD will protest if the Democrat win, so back to sqaure one m no matter what happens. One way or another the protests will continue.

This is what Bloomberg has to say about it, very simply massive harm already. The baht has amazed me all along but I don't think they can pull off this miracle in the world today.

Thai Protests Expose Investors’ Risks in Rotating-Premier Land
Email | Print | A A A

By Daniel Ten Kate

Dec. 11 (Bloomberg) -- For decades, Thailand’s rotating-door politics was a sideshow for companies and investors. The recent eight-day seizure of Bangkok’s airports by anti-government protesters changed that.

“They could camp out in Government House for five years and nobody would really notice,” said Christopher Bruton, a director at Bangkok-based Dataconsult Ltd., which does market research for companies looking to invest in Southeast Asia. “But camp out in the airport and you get noticed pretty quickly.”

Before the protest ended Dec. 3, airlines and hotels suffered cancellations, cargo shipments were delayed, stocks fell, Moody’s Investors Service lowered the country’s credit outlook and the baht slipped to a 21-month low. And it may happen again. The protesters, who ended their occupation after courts ousted the government for alleged vote buying, vowed to return if members of the dissolved People Power Party regain power.

“We have won,” but “whenever there is a call to regroup, I will definitely come,” said Lee Meng, a graphic designer who took part in the airport demonstration.

The protests brought home to investors the danger of doing business in a country that has had 27 prime ministers in the 76 years since absolute monarchy ended. Somchai Wongsawat, ousted as prime minister, said economic losses during the occupation may total 100 billion baht ($2.8 billion) per day. Southeast Asia’s second-biggest economy may not expand next year as the global economic crisis and the airport seizures hurt tourism, Finance Minister Suchart Thadathamrongvej said Dec. 1.

Lower Interest Rate

The Bank of Thailand on Dec. 3 lowered its benchmark interest rate by the most on record, to 2.75 percent, to help revive the economy, joining at least five other central banks that cut rates last week to fight a global recession.

“In the past when there was a problem, most of the protesters would directly go to the government,” said Pramon Sutivong, president of the Thai Chamber of Commerce, in an interview. “But this time we feel the protesters went too far by taking the country’s economy as a hostage to force what they are trying to do.”

The protesters, largely from Bangkok’s middle class and backed by the royalist elite, oppose allies of former Prime Minister Thaksin Shinawatra, who garnered support from poor farmers to win four elections in eight years. The demonstrators accuse Thaksin of corruption and trying to eliminate the monarchy.

Escalating Protests

Street protests began in May with the closure of a main road in Bangkok and escalated when protesters stormed the prime minister’s office three months later. Then they resorted to occupying the airports, which handle at least 750 flights and more than 100,000 passengers a day.

Thailand’s SET Index of stocks, which fell 2 percent during the airport closure, sank 55 percent during the entire 192-day period of protests, which coincided with the global financial crisis. The baht dropped 1 percent against the dollar during the airport seizure and nearly 11 percent in the past six months.

The resumption of flights on Dec. 3 is unlikely to mark the end of Thailand’s political problems. Lawmakers from the People Power Party are regrouping and their new candidate may be elected prime minister, a move that may again incite the People’s Alliance for Democracy demonstrators.

“We’re worried that the same people could come back again and we’re talking with police and the military about ways that might stop that from happening,” said Serirat Prasutanond, acting president at Airports of Thailand Pcl.

Unelected Bureaucrats

As long as the constitution favors unelected bureaucrats and judges over elected politicians, instability will continue, Kristina Kazmi, an Asia analyst, wrote in a report for IHS Global Insight, a U.S.-based research firm.

“If the parliament does indeed elect a prime minister, the PAD does not approve of, the same cycle of protests and deadlock will start again,” she wrote in the Dec. 2 report.

Similar protests may push some new investment to other Southeast Asian countries, including Vietnam, Indonesia and Malaysia, because such lawlessness encourages street gangs in Bangkok, some business leaders said.

“Even investors who have known Thailand for a long time are afraid things might get out of hand,” said Nandor von der Luehe, chairman of the Joint Foreign Chambers of Commerce in Thailand. “That underlines how bad the situation looks.”

Canceled Bookings

Worst affected by the airport closure is the travel industry, which accounts for 12 percent of Thailand’s economy. Many tourists canceled bookings, leaving hotels empty during the peak season. Some hotels reported occupancy rates in single digits, said Andrew J. Wood, president of Skal International Bangkok, a travel-industry group.

“Across the board, 100 percent of all businesses that rely on foreign tourists are affected because it completely dried up,” he said. “It is an absolute disaster for the hotel and hospitality industry, and it will take some time to recover.”

Thai Airways International Pcl, the nation’s largest carrier, said it would likely lose 20 billion baht in sales because of the airport closures, putting in on course for its first loss in 45 years.

“Foreign investors have been very tolerant of Thai politics over the years,” said Mark Hutchinson, a Singapore-based executive who works in the region. “It never really injected itself into the true functioning of their business -- until now.”

To contact the reporters on this story: Daniel Ten Kate in Bangkok at dtenkate@bloomberg.net

[bumper]

My apologies Gentlemen and Ladies

What a way to start a day, but hey your wrong your wrong.


The Auto Bill had pasted the House but not the Senate. Repulican's are kicking up a fuss. Of course they didn't do that with Finance. Now you want a Conspiracy Ron there is you one home grown. So I think we are getting a preview of the next four years. However if I'm not wrong again the Democrats will have enough power for the next four years to override them. In the end not much different then Thailand is it? Everyone is taking care of their own turf and not working for the good of the country.

So at this point instead of seeing 100's of thousands jobs saved, we are looking at a loss. That is why the dollar has dropped like a rock.

Still has a chance, but time is running out.

The other thing that is nailing the dollar they anticipate a .50% basis points cut in rates by the Fed next week.

One of the things that concerns me now is that although the Euro gained strength, the pound gained for a bit and is falling back again. That says to me that my cousins are in for a really tough ride. Like we had went through for the past two years. I wish you guys luck, believe me it is no fun [-o<

Sorry guys but, a two week vacation these days things are moving so fast that yuor lost in two weeks.

I Hey what can I say an Old Git and I earned it

[aznyron]

Git is it possible because they are suffering from economic disaster that they are trying steal all they can before the big crash. the fact remains wether the big 3 get the loan or not does not mean jack sh/t to the thai baht because in the end they will get the loan it all about B/S power to show the D. they can block them if they choose to but they fail to remember this is not January the old congress is still in play
I predicted march 17 09 (saint Patricks day) will be the big turn around because that the end game for tourism and they can not B/S the people any more especially when the hotels & bars and small business who depend on tourism start closing there doors also remember the factories that closed two years ago
which how many of them reopened because of the baht causing them loss in the export business
Git keep those post coming I read them they are important to me

[bumper]

Anything is possible these days Ron. The problem today is not the Baht but the dollar. Yes what happens in the states has a direct cause and effect on the exchange rate. So I have to respectfully disagree with you there. Thailand is doing all it can destroy itself. However if your dollar value goes down the baht will go up no matter what they do here. It's not one country versus another it's a world wide thing and you have to take into consideration to understand. The dolarr is the measuring stick, but that doesn't mean it is the all mighty. Understanding does not mean your going to like what you see.

My position is still to be very careful with money at the moment. I think we will see a better exchange rate, question is when and how much. That remians to be seen.

[nevket240]

If my letter source is correct, there will be a major bankruptcy in the US tonight. As the GM bailout has collapsed that could be it.
regards

[laphanphon]

good, GM sucks anyway. let free enterprise work, someone who does a better job will absorb/buy them. why throw tax money in the toilet. sure the ceo and board members have their golden parachutes, do they really care. the union employees have done very well over the years, hope they saved for it. life goes on. don't think GM will be missed. once i discovered nissan, toyota, mazda, i stopped buying american cars, except that ford escort, made by mazda.

us yanks preach free enterprise, time to live by it. to the unemployment line, been there, done that. next................