View Full Version : You Couldn't Make It Up!
Ok, we know what the situation is in Thailand (it's no joking matter apparently - and posts encouraging anything other than dramatic wailing and gnashing of teeth are frowned upon and summarily deleted by our esteemed moderator)
BUT
In the midst of all the mayhem...
...... with bullets flying and smoke billowing from BKK...
....... with elderly queens running around screaming with their hands in the air...........
the Baht RISES almost 1% against the ┬г
WTF?
:dontknow: :dontknow: :dontknow:
Thai Dyed
May 20th, 2010, 13:18
In the midst of all the mayhem...
...... with bullets flying and smoke billowing from BKK...
....... with elderly queens running around screaming with their hands in the air...........
the Baht RISES almost 1% against the ┬г
WTF?
:dontknow: :dontknow: :dontknow:
That's simple! Read Naomi Klein here:
http://en.wikipedia.org/wiki/The_Shock_Doctrine
[attachment=0:24jeelrn]Naomi Klein - Shock Doctrine.jpg[/attachment:24jeelrn]
Disaster Capitalism has become the biggest money game in the world. Watch out for all those "great vampire squid wrapped around the face of humanity, relentlessly jamming their blood funnels into anything that smells like money."
In another thread that you responded to SG, "stop" is literally licking his chops in anticipation of the bundle to be made over this disaster in Thailand.
Beachlover
May 20th, 2010, 19:38
This is caused by a rising USD. The Thai Baht is pegged to the USD as are most Asian currencies.
The USD is rising because in during times of turmoil (as now with the Euro economic crisis) traders/investors tend to move their funds to the biggest and most stable economy for safety... which happens to be the US economy.
THB is NOT pegged to the USD. There is no peg; it is freely traded.
Beachlover
May 20th, 2010, 20:05
Ah sorry... my mistake. Bad terminology. I think its movement is heavily influenced by the USD but no it is not officially pegged as other Asian currencies are.
I wouldn't even say it is highly influenced by the USD.
The THB value has fluctuated wildly against the USD since it was floated almost 15 years ago.
Thai Dyed
May 20th, 2010, 20:15
Ah sorry... my mistake. Bad terminology. I think its movement is heavily influenced by the USD but no it is not officially pegged as other Asian currencies are.
Not bad terminology at all Beachlover! Just plain stupidity on your part.
The Thai Baht has been rising against the US$, at least during the period under consideration, as these charts below show.
[attachment=1:bfzs3mnu]Thai Baht rises against US$.jpg[/attachment:bfzs3mnu]
[attachment=0:bfzs3mnu]US$ drops against Thai Baht.jpg[/attachment:bfzs3mnu]
Beachlover
May 20th, 2010, 20:27
I agree... Thai/USD relation probably can't be explained like that.
In any case... the freaking Aussie dollar is tanking against the Thai baht so I'm not happy lol. All good for those who want to holiday in Europe though...
Ok, we know what the situation is in Thailand (it's no joking matter apparently - and posts encouraging anything other than dramatic wailing and gnashing of teeth are frowned upon and summarily deleted by our esteemed moderator)
BUT
In the midst of all the mayhem...
...... with bullets flying and smoke billowing from BKK...
....... with elderly queens running around screaming with their hands in the air...........
the Baht RISES almost 1% against the ┬г
WTF?
Rothschild is said to have advised that the best time to buy is when there is "blood in the streets"
If they hadn't burned it down ... I might have tried the Thai stock exchange.
Rothschild is said to have advised that the best time to buy is when there is "blood in the streets"
If they hadn't burned it down ... I might have tried the Thai stock exchange.
It is just a building.You can still invest ..if you got the balls ..Dingbat!
It is just a building.You can still invest ..if you got the balls ..Dingbat!
I don't want to invest in a Dingbat. http://en.wikipedia.org/wiki/Dingbat_%28building%29 :thebirdman:
Touche! Silcom
you genuinely make me laugh! Well done! You have potential, try not to join the GHOULS. Be Nice.
Brad the Impala
May 20th, 2010, 22:49
Ah sorry... my mistake. Bad terminology. I think its movement is heavily influenced by the USD but no it is not officially pegged as other Asian currencies are.
Not bad terminology at all Beachlover! Just plain stupidity on your part.
The Thai Baht has been rising against the US$, at least during the period under consideration, as these charts below show.
[attachment=1:35ecmxda]Thai Baht rises against US$.jpg[/attachment:35ecmxda]
[attachment=0:35ecmxda]US$ drops against Thai Baht.jpg[/attachment:35ecmxda]
A gradual 3% appreciation over four months is hardly wild fluctuation!
I wasn't referring to four months. Look at the longer term.
Ah sorry... my mistake. Bad terminology. I think its movement is heavily influenced by the USD but no it is not officially pegged as other Asian currencies are.
Out of curiosity, what other asian currencies (other than China's currency) is either officially or unofficially pegged to the US dollar? I didn't think there were any (other than the Chinese government strictly controlling its banks as to the US dollar exchange rate).
And I wish the "heavy influence" you note would stop causing the dollar to nose-dive against the baht for the last decade. I liked the 42-45 rate whereas the current (approximate) 32 rate is not so pleasant.
mahjongguy
May 21st, 2010, 16:03
.. what other asian currencies (other than China's currency) is either officially or unofficially pegged to the US dollar?
The Hong Kong Dollar is pegged at something around 7.8 to the USD but is allowed a trading range of something like 1%.
The only other such peg in Asia is Viet Nam.
Asian currencies
Chips off the block: Currencies around Asia are more flexible than you think
Geezer
June 19th, 2010, 04:01
I am an expert on economics.
When I moved to Thailand eleven years ago I advised my boyfriend, who was starting a savings account, to set it up as a dollar account rather than a baht account as the dollar was safer.
Before moving to Thailand I had bought $3,000 in travelers checks for emergencies, then forgot about them. A short while ago I cashed the travelers checks, which had, by then, lost $1,000 against the baht.
Fortunately my boyfriend had ignored my advise.
Out of curiosity, what other asian currencies (other than China's currency) is either officially or unofficially pegged to the US dollar? I didn't think there were any
The Hong Kong dollar is very tightly pegged to the US dollar - and before you say it's a chinese currency that peg was in place long before the handover.
The Hong Kong dollar is officially pegged to the US dollar at a rate of US$1 to HK$7.7.
The Macau pataca is indirectly pegged to the US dollar through its HK dollar link at a rate of 8 patacas to US$1.
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