Currencies - What the hell is going on?

[mardhi]

Makes you wonder who's intervening (no not who, but WHO) seems like someone wants to move Baht into other currencies at a good rate while the rest of the country wants the baht to fall and thus make exports more realistic. As it is, GM have closed their plant for 2 months in Thailand, already announced are some 200,000 job losses and lots lots more to come in the tourism sector. One major chain will shed 5% of its staff within the next 2 weeks - and thats some about 1,000 people in one hit with plans to shed another 30% if the situation does not improve.

Cheers
mardhi

[geosight]

yeah but this goes futher than one party or one man

[mardhi]

You think so? Will be interesting to see how much of Thailands foreign currency reserves have been spent in the last couple of weeks...........

And who is the organ grinder with these puppets at the moment?

Cheers
Mardhi

[mardhi]

And by that I mean - who has the most to gain from such an action? Somebody is already preparing to come in on a white horse to save the country from economic hardship. You live here (I think), so you probably understand the Chinese influence - this is a long game being played with someone elses money (i.e the nations reserves) to keep the baht high and make an economic mess and whoo do you call to solve it? Answers on a postcard to Dubai.....

Cheers
mardhi

[bigmick22]

Franck?

[Guest]

The Nation 2/11/08
"Thai stocks gained 1.91 points or 0.49 per cent when the market was open for trading Friday morning."

TIT

[terryw]

Today the GBP had its biggest daily fall against the USD since its ejection from the ERM in 1992. Its down to $1.48.

Looks like we are heading for 45 bhat to the GBP and the predited run on the pound to 1GBP to 1 Euro is becoming a reality. The markets have totally lost confidence in Gordon Browns management of the economy.

[robbo]

potential for the uk to go down the tube big style this time,things are looking increasingly grim here in the uk,by that i mean that the shit hasnt begun to hit the fan yet,in the "real ecomomy" (the one where people work and pay taxes and not the one where traders gamble and commit fraud with finance) people sense its not gonna be good. but hey fuck hell what we moaning about weve still got the olympics!............now where did we put that £15 billion to pay for it?....ah could it be under the mattress,may aswell be!

[robbo]

btw today baht at 52/53 GBP,if it does go to 45 as terry says it may,then a quid will buy you a bowl of rice in a cheap eatery in BKK now call me cheap charlie but i aint willing to travel half way round the world to pay that for a bowl a rice...............

[Stogie]

The sooner a pound is worth a dollar the happier (and richer) I'll be.

I don't care about the baht/pound/dollar because I spend virtually nothing in this country anyway.

There are winners and losers...

[Snick]

I'm waiting for the Baht to collapse AND the condo market to collapse....then I 'll be

[daveduke007]

(robbo @ Dec. 01 2008,21:53) btw today baht at 52/53 GBP,if it does go to 45 as terry  says it may,then a quid will buy you a bowl of rice in a cheap eatery in BKK now call me cheap charlie but i aint willing to travel half way round the world to pay that for a bowl a rice...............

I got 51.34 baht to the £ today with Western Union   which was nice considering

[robbo]

the 70 to the £ which i got 5 years ago was even nicer

[daveduke007]

I got 71 in Nov 07 , distant happy memory now  

[azza33]

Gee and i got 32 in june and was happy as can be .... i can only dream of 50-70