money transfers

Legal issues related to buying land, houses, condos in the LOS. Anything about contracts. Finance related, such as getting a mortgage, buying property from the bank, etc.

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Re: money transfers

Postby MGV12 » Wed Sep 29, 2010 4:16 pm

fredlk wrote:With thanks and apologies to The Beatles, "I've got to admit it's getting better, better. A little better all the time"


The Euro has strengthened against the GBP as well .... now all we need is for someone to tell us why.

I haven't seen any particularly good news about the Eurozone or bad news about the UK; other than the problems we already knew about.

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China pledges to control Europe

Postby MGV12 » Mon Oct 04, 2010 5:51 am

Sorry .. of course I mean China pledges to support the Euro

Give you a warm feeling Fred?

http://www.bangkokpost.com/breakingnews ... t-for-euro

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Re: money transfers

Postby BKKBILL » Mon Oct 04, 2010 10:46 am

Here are the weekly exchange rates for some currencies.

I put the China Yuan Renminbi in just for a comparison. Looks like the Thai Baht is gaining on it this week.

When looking at the China Yuan and the USD it seems to be the same chart except for the numbers. Who is following who?
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Re: money transfers

Postby Roger Ramjet » Mon Oct 04, 2010 1:06 pm

Bill,
I said it before, when the previous Bank of Thailand governor was in, someone in Thailand is playing with the Baht and making it overvalued. Perhaps you have found the culprit. I also noticed that the Chinese wages of their workers has climbed well past the Thai worker.
Surely the Thais are not playing the tourist card for the up and coming season in China? China is too vast for that.
I also noticed the Aussie $ only fell to 29.1 to the baht on Oct 1, when in actual fact I got 29.8 in a direct transfer, compliments of the Aust Govt.
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Re: China pledges to control Europe

Postby BKKBILL » Mon Oct 04, 2010 2:49 pm

MGV12 wrote:Sorry .. of course I mean China pledges to support the Euro


One comment from China and the Euro rises and stabilizes.

Looks like the USD is again under stress.

RR that is a good deal you have it will add up fast when you bring in the construction funds. Like my Mom used to say spend it wisely. :D :D

Canada has started sending pensions direct deposit to some countries unfortunately not yet Thailand.
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Re: China pledges to control Europe

Postby MGV12 » Mon Oct 04, 2010 4:35 pm

BKKBILL wrote:
Canada has started sending pensions direct deposit to some countries unfortunately not yet Thailand.


Bill ... do you get the same cost of living raises as those who still reside in Canada?

Our mean bunch freeze the value of your pension at the date it commences ... no increases ... ever ... it has been taken to the courts, most recently the European Court of Human Rights but they ruled in favour of the government saying they were under no obligation to treat those living outside the country the same as those still living in the UK; even though those living abroad are getting less benefits ... NHS etc etc ... than those living there. They have not got many years to sort it out before I start to draw .......
I hope they realise that :)

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Re: money transfers

Postby Roger Ramjet » Mon Oct 04, 2010 4:42 pm

Bill,
Up until six months ago the Australian Government refused point blank to transfer any money to Thailand in the form of pensions. When they decided to start, they warned against accounts in certain banks, at the head of the list was Bangkok Bank and a couple of others with bad practices. My wife is spitting chips about Bangkok Bank anyway, one of her loans she wished to pay at twice the rate to get it out of the way can only be paid on certain days of the month, at a certain branch, otherwise it stays at the same as the repayment amount. And BB head office claims they have NO control over the branch concerned. Now we are looking at paying a rather large penalty to get rid of the whole thing.
Canada I think is a little smarter than Thailand at the moment.
I wonder how, in Australia, if the exchange rate is 29.8 to the baht, how can the Thai government/banks can claim the rate is just 28.1? No wonder they make millions and all done by a computer too.
MGV12,
Mine goes up with the cost of living in Australia.
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Re: money transfers

Postby BKKBILL » Mon Oct 04, 2010 5:57 pm

MGV12 wrote:
BKKBILL wrote:
Canada has started sending pensions direct deposit to some countries unfortunately not yet Thailand.


Bill ... do you get the same cost of living raises as those who still reside in Canada?


Canadians all get the same old age pension and that is tied to inflation. We also have a Canadian pension plan that employers and employees pay into during your working years. This one depends on how much you make annually and there is a maximum pay in for this one that is adjusted yearly. Old age payments starts a sixty-five CPP can start at sixty with slightly less in benefits.

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Re: money transfers

Postby Roger Ramjet » Tue Oct 05, 2010 4:45 am

To all,
I thought people were playing games with the baht and the front page of the Bangkok Post confirms it. When 48.92 billion baht in stock is traded or sold in one day and then the stock nosedives because they are all local traders/investors, someone (Thai) has been manipulating the rise of the baht.
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Re: money transfers

Postby MGV12 » Thu Oct 07, 2010 5:47 am

A while back we would have said that China was the tail trying to wag the dog .... after the 'Financial Crisis' ... without doubt ... there's a new dog in town.

http://www.bangkokpost.com/breakingnews ... rrency-row

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Re: money transfers

Postby BKKBILL » Thu Oct 07, 2010 9:56 am



He added: "If China's economy suffers a crisis, that wouldn't be a good thing for the world as a whole.''

This certainly is a true statement. Unfortunately it only take Chinas position into consideration. It’s not hard to see what is happening to the rest of the world with an artificially low yuan.

Seems to me the cost of all natural resources would drop, unemployment world wide would lower. Currencies in Europe and America would rise significantly.
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Re: money transfers

Postby MGV12 » Thu Oct 07, 2010 10:38 am

BKKBILL wrote:It’s not hard to see what is happening to the rest of the world with an artificially low yuan.

Seems to me the cost of all natural resources would drop, unemployment world wide would lower. Currencies in Europe and America would rise significantly.


Now we wouldn't want that would we?

Even the 'Only Superpower left in the World' can only say .... "Good doggy ... please be kind to me" .... it's too big to kick and lock in the outhouse now!

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Re: money

Postby BKKBILL » Thu Oct 07, 2010 11:55 am

This is from Wikipedia:

A high debt level can affect inflation, interest rates, and economic growth. A variety of factors are placing increasing pressure on the value of the U.S. dollar, increasing the risk of devaluation or inflation and encouraging challenges to dollar's role as the world's reserve currency. If another currency or basket of currencies replaced the dollar as the reserve currency, the U.S. would face higher interest rates to attract capital, reducing economic growth for the long-term. The Economist wrote in May 2009:
"Having spent a fortune bailing out their banks, Western governments will have to pay a price in terms of higher taxes to meet the interest on that debt. In the case of countries (like Britain and America) that have trade as well as budget deficits, those higher taxes will be needed to meet the claims of foreign creditors. Given the political implications of such austerity, the temptation will be to default by stealth, by letting their currencies depreciate. Investors are increasingly alive to this danger..."


If you feel you are up to it this came from:

http://en.wikipedia.org/wiki/United_States_public_debt

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Re: money transfers

Postby BKKBILL » Thu Oct 07, 2010 12:54 pm

Guess we did see it coming. USD below 30Baht.

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Re: money transfers

Postby fredlk » Thu Oct 07, 2010 1:06 pm

Euro today:
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