42-billion-baht aid package to cushion the financial impact of Covid restrictions

[gummy]

2 minutes ago, KaptainRob said:

Thai's may kowtow to China but they don't want to be in their pocket.  There's a long unforgettable history between Thai-chinese people, many fled here to escape communist oppression.

And my previous Thai wife's Father was one of them. His Chinese family sent him and his Brother to Bangkok as children around 1947 but as he died when she was young I never got the chance to meet him. I did meet his Brother once though. Because of that she never knew her relatives in China, and her family only ever knew the family name. As a consequence my two children with her are 1/4 Chinese. Sorry to digress. 

[SnapDragon]

17 minutes ago, AussieBob said:

Then again, maybe China will be more than happy to step in and buyout Thailand and turn it into a true little brother clone - but I think the Thai people (all levels) would have a major problem with that and would take serious actions. 

"China will be more than happy to step in,,,,,,," Absolutely! But how? IMO, by taking over infrastructure and mineral and natural resources. I think this is what they will do with their Trillion dollars they are holding; pay off debts..

Not sure the Thai people at the lower levels will have a problem with it. They will not either have any choice or know about it.

This money circulating the world is intrinsically non-existent. Only about 5% of money is created by 'Central Banks'. The private banks are the ones responsible for the continual increase in world 'money'; although a more accurate term would be 'currency'.

The UK has a central bank called the 'Bank of England'. It was the model for virtually all countries in the world. The IMF, World Bank, IMF etc,,, are privately owned.

SO!! The couple see a nice house; and want to purchase it. The pop into the bank and do the deal. Pay back over the next 20 years. Where does that money come from? Well, it doesn't come from anywhere. It doesn't even exist.

In Thailand the average family owes between 500k and 1,000k. The problem Thailand has, is that it has magicked too much dosh from thin air. It's commonly thought that 'money in' equals 'money out' but this is a fallacy. There has been little regulation of bank practices down the years, and the chickens will come home to roost; sooner or later.

[gummy]

17 minutes ago, snapdragon said:

"China will be more than happy to step in,,,,,,," Absolutely! But how? IMO, by taking over infrastructure and mineral and natural resources. I think this is what they will do with their Trillion dollars they are holding; pay off debts..

Not sure the Thai people at the lower levels will have a problem with it. They will not either have any choice or know about it.

This money circulating the world is intrinsically non-existent. Only about 5% of money is created by 'Central Banks'. The private banks are the ones responsible for the continual increase in world 'money'; although a more accurate term would be 'currency'.

The UK has a central bank called the 'Bank of England'. It was the model for virtually all countries in the world. The IMF, World Bank, IMF etc,,, are privately owned.

SO!! The couple see a nice house; and want to purchase it. The pop into the bank and do the deal. Pay back over the next 20 years. Where does that money come from? Well, it doesn't come from anywhere. It doesn't even exist.

In Thailand the average family owes between 500k and 1,000k. The problem Thailand has, is that it has magicked too much dosh from thin air. It's commonly thought that 'money in' equals 'money out' but this is a fallacy. There has been little regulation of bank practices down the years, and the chickens will come home to roost; sooner or later.

The chickens may come home but already there is an increasing market for geese as they only need one for that golden egg.

Edited July 14, 2021 by gummy

[AussieBob]

9 hours ago, snapdragon said:

"China will be more than happy to step in,,,,,,," Absolutely! But how? IMO, by taking over infrastructure and mineral and natural resources. I think this is what they will do with their Trillion dollars they are holding; pay off debts..

Not sure the Thai people at the lower levels will have a problem with it. They will not either have any choice or know about it.

This money circulating the world is intrinsically non-existent. Only about 5% of money is created by 'Central Banks'. The private banks are the ones responsible for the continual increase in world 'money'; although a more accurate term would be 'currency'.

The UK has a central bank called the 'Bank of England'. It was the model for virtually all countries in the world. The IMF, World Bank, IMF etc,,, are privately owned.

SO!! The couple see a nice house; and want to purchase it. The pop into the bank and do the deal. Pay back over the next 20 years. Where does that money come from? Well, it doesn't come from anywhere. It doesn't even exist.

In Thailand the average family owes between 500k and 1,000k. The problem Thailand has, is that it has magicked too much dosh from thin air. It's commonly thought that 'money in' equals 'money out' but this is a fallacy. There has been little regulation of bank practices down the years, and the chickens will come home to roost; sooner or later.

I wont go into my limited understandings of the intricacies of currency values and the long ago abandoned gold reserves arrangement which has put us all here today. But suffice to say that you are right in that there is a huge amount of debt existing inside the Thai financial system - both from the local families and also the businesses and industries. The Thai banking system is totally corrupted and is also not structured or managed in a way that allows them to be an integral part of any monetary world banking system. The Thais like it that way - they can get away with things that banking systems in western countries cannot (but can in China).  If/when that whole Thai banking system starts to crumble and fall apart, the Chinese will be one of the very few willing to lend them money to prop them up as they are - but they will only do it at a price - influence and control and ownership.  The IMF will 'play' but only on the strict conditions of restructures and massive changes in management practices and Government oversights and control. The IMF etc have learned from Africa and other countries like Greece, that if you just give them money and prop them up they will not implement agreed changes. Post Covid there will be a lot of demand for IMF type support - China can see that and unlike IMF and the banks in the west, they do not play by the rules. China has 'invested' the west's own money back into their own countries and places like Africa - been doing it for decades - and that is how they will 'help' Thailand.