Currency Crisis Happening Now

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newtovillagelife
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Re: Currency Crisis Happening Now

Post by newtovillagelife » June 21, 2019, 10:09 am

Laan Yaa Mo wrote:
June 20, 2019, 11:19 pm
Today, Thursday, 20 June 2019, the Canadian dollar rose to 75.5 to the U.S. greenback. A few weeks ago. it was 73.4 U.S. However it has fallen to 23.4 baht. This is not welcome news.
Pathetic, the only way Canada can stay competitive, is by continually weakening it's currency.



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747man
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Re: Currency Crisis Happening Now

Post by 747man » June 21, 2019, 11:20 am

Why is the Thai Baht Sooooooooo Strong ??

Answer...........Manipulation !!!

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Re: Currency Crisis Happening Now

Post by 747man » June 21, 2019, 12:17 pm

The Bank of Thailand is set to tighten foreign exchange monitoring to prevent short-term baht speculation after the local currency surged.
The Bank of Thailand is set to tighten foreign exchange monitoring to prevent short-term baht speculation after the local currency surged to its highest level in more than six years on Thursday.

The central bank will take a stricter approach in tracking transactions suspected of parking short-term money in the country for speculative purposes, said Vachira Arromdee, assistant governor overseeing financial markets operations.

Speculating in the baht for short-term gain is undesirable behaviour, Ms Vachira said.

The baht on Thursday rallied past the 31-mark to its strongest level against the US dollar in more than six years. Thailand's currency unit traded at 30.95, up from the previous day's 31.19.

The baht has emerged as the best-performing currency in Asia, gaining 4.8% year-to-date against the dollar. The Japanese yen is second with a 1.8% rise.

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Re: Currency Crisis Happening Now

Post by anefarious1 » July 4, 2019, 11:14 am

And now we have Trump openly wanting to devalue the dollar. Doesn't look good.

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Giggle
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Re: Currency Crisis Happening Now

Post by Giggle » July 4, 2019, 11:35 am

If you're living that close to the margins, maybe it's time to reconsider life abroad where work is not appreciated and you're really little more than a parasitic host.

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Re: Currency Crisis Happening Now

Post by TJ » July 4, 2019, 11:57 am

Thailand is far from any "currency crisis." If interested, search the internet for a description of currency crisis.

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Re: Currency Crisis Happening Now

Post by TJ » July 4, 2019, 1:49 pm

anefarious1 wrote:
July 4, 2019, 11:14 am
And now we have Trump openly wanting to devalue the dollar. Doesn't look good.
Yes. That is true, that President Trump wants the FED to reduce interest rates. And this is too complicated for me to completely understand. President Trump says that the devalued currencies of other countries put the U.S. at a disadvantage. My understanding is that a key factor in this devaluation is that these countries have lower interest rates than the U.S. So Trump has said that the FED should lower rates to match that of other countries, an act which would devalue the U.S. dollar. Prices are slumping in many sectors of the U.S. economy and a devalued dollar is said to be a remedy for that problem. If this is the case, expect a devalued U.S. dollar after the FED substantially lowers the interest rate.

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Re: Currency Crisis Happening Now

Post by glalt » July 4, 2019, 2:38 pm

I have been lucky. When I first moved to Thailand, the exchange rate was 25 to the dollar. When the Thai economy crashed, I was lucky to have a very good job offer in Kalifornia. After five years living frugally and working in Kalifornia, I was able to retire. I moved back to Thailand and found a nice condo that suited exactly what I wanted. The exchange rate then was 41 to a dollar. More recently, I again got lucky. I bought my wife a new car and wire transferred the dollars over here to pay cash. Ford then offered a zero percent interest rate. I took that and have since been living off that transfer. So far I haven't felt any pain from the falling dollar. Hopefully the baht will weaken while I still have the extra money in my Thai bank account. If the baht does not weaken, I had based my retirement living expenses at 25 to the dollar, so at this time, I feel like I'm still ahead.

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Lone Star
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Re: Currency Crisis Happening Now

Post by Lone Star » July 4, 2019, 3:04 pm

glalt wrote:
July 4, 2019, 2:38 pm
I have been lucky. When I first moved to Thailand, the exchange rate was 25 to the dollar. When the Thai economy crashed, I was lucky to have a very good job offer in Kalifornia. After five years living frugally and working in Kalifornia, I was able to retire. I moved back to Thailand and found a nice condo that suited exactly what I wanted. The exchange rate then was 41 to a dollar. More recently, I again got lucky. I bought my wife a new car and wire transferred the dollars over here to pay cash. Ford then offered a zero percent interest rate. I took that and have since been living off that transfer. So far I haven't felt any pain from the falling dollar. Hopefully the baht will weaken while I still have the extra money in my Thai bank account. If the baht does not weaken, I had based my retirement living expenses at 25 to the dollar, so at this time, I feel like I'm still ahead.
Bingo.

I'm in the same boat. Figured on a low of 25 even though it was much higher when I moved here; and I transferred money over here when I was still getting mid-30s on the baht.

I planned very well, but like you said, we still need some luck for those things that we can't control.
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Re: Currency Crisis Happening Now

Post by pipoz4444 » July 4, 2019, 3:22 pm

Spent the last year, trying to work how many years I was going to live and how much Baht I would need during each of those years, taking into account the my commitments and the prospect of inflation.

Finally gave up on the calculations in April this year and told myself that it was just time to make the move. As it turns out, I now regret not having made that move earlier. Never leave it too late. :-k :-k One just has to learn, to take those opportunities when they come along.

So, just 20 more days of work to go and by end of this month (July), I will become another Expat living in Thailand, on his Non Imm O-A Visa for a while, until I transfer over to a Retirement one. :-s

pipoz4444

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Re: Currency Crisis Happening Now

Post by glalt » July 4, 2019, 3:40 pm

pipoz4444 wrote:
July 4, 2019, 3:22 pm
Spent the last year, trying to work how many years I was going to live and how much Baht I would need during each of those years, taking into account the my commitments and the prospect of inflation.

Finally gave up on the calculations in April this year and told myself that it was just time to make the move. As it turns out, I now regret not having made that move earlier. Never leave it too late. :-k :-k One just has to learn, to take those opportunities when they come along.

So, just 20 more days of work to go and by end of this month (July), I will become another Expat living in Thailand, on his Non Imm O-A Visa for a while, until I transfer over to a Retirement one. :-s

pipoz4444
Good luck with the move. You don't have to be wealthy to have a contented happy life here in Thailand. I'm by no means wealthy but I do have a decent surplus every month from my lifetime pensions. I was priced out of my health insurance policy here but my nest egg is more than the policy would have covered anyways. Hopefully I will never need my nest egg and my son will inherit it. Actually, I'm afraid to ever tap into it in case of any serious health problems. I feel good that after I am dead and gone, my wife will be comfortable for the rest of her life.

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Re: Currency Crisis Happening Now

Post by pipoz4444 » July 4, 2019, 6:24 pm

Hi glalt,

I am making the move now, because it now suits me to do so.

The future is what ever it will be, or what ever one chooses to make of it :D

I have become very philosophical, thesedays :-k :-k

pipoz4444
Last edited by pipoz4444 on July 4, 2019, 8:43 pm, edited 3 times in total.

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Re: Currency Crisis Happening Now

Post by Stantheman » July 4, 2019, 6:44 pm

TJ wrote:
July 4, 2019, 1:49 pm
anefarious1 wrote:
July 4, 2019, 11:14 am
And now we have Trump openly wanting to devalue the dollar. Doesn't look good.
Yes. That is true, that President Trump wants the FED to reduce interest rates. And this is too complicated for me to completely understand. President Trump says that the devalued currencies of other countries put the U.S. at a disadvantage. My understanding is that a key factor in this devaluation is that these countries have lower interest rates than the U.S. So Trump has said that the FED should lower rates to match that of other countries, an act which would devalue the U.S. dollar. Prices are slumping in many sectors of the U.S. economy and a devalued dollar is said to be a remedy for that problem. If this is the case, expect a devalued U.S. dollar after the FED substantially lowers the interest rate.
Dought the FED will substantially lower interest rate to fast, maybe 1/4 percent at most then wait about 6 months before lowering again while they wait to see effect

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Re: Currency Crisis Happening Now

Post by anefarious1 » July 4, 2019, 10:02 pm

Giggle wrote:
July 4, 2019, 11:35 am
If you're living that close to the margins, maybe it's time to reconsider life abroad where work is not appreciated and you're really little more than a parasitic host.
Your assumption doesn't consider folks who are wealthy and losing a lot (at least on paper) because their assets are in dollars, euros, AUD, pounds. Have you considered that?
Last edited by anefarious1 on July 5, 2019, 9:11 am, edited 1 time in total.

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Giggle
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Re: Currency Crisis Happening Now

Post by Giggle » July 5, 2019, 10:31 am

Wealthy people are usually smart enough to diversify their portfolio so that the decline of one asset is offset by the ascent of another.

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Re: Currency Crisis Happening Now

Post by anefarious1 » July 5, 2019, 11:59 am

Giggle wrote:
July 5, 2019, 10:31 am
Wealthy people are usually smart enough to diversify their portfolio so that the decline of one asset is offset by the ascent of another.
Most wealthy people are diversified, but not across currencies. Yeah in hindsight it would have been smart to move half while the exchange rate was 20% higher (not too long ago). Ahhh... at least I built the house with approx 34/usd instead of the current rate. On the bright side, USD net worth higher than ever. I'll wait.

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Re: Currency Crisis Happening Now

Post by Lone Star » July 5, 2019, 12:42 pm

anefarious1 wrote:
July 5, 2019, 11:59 am
Most wealthy people are diversified, but not across currencies. Yeah in hindsight it would have been smart to move half while the exchange rate was 20% higher (not too long ago). Ahhh... at least I built the house with approx 34/usd instead of the current rate. On the bright side, USD net worth higher than ever. I'll wait.
Yes, USD net worth for many Americans is higher than ever. I took some profits and converted to cash just yesterday. I love the free market. :D

The exchange rate will come back.
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Re: Currency Crisis Happening Now

Post by anefarious1 » July 19, 2019, 7:48 pm

Lone Star wrote:
July 5, 2019, 12:42 pm
anefarious1 wrote:
July 5, 2019, 11:59 am
Most wealthy people are diversified, but not across currencies. Yeah in hindsight it would have been smart to move half while the exchange rate was 20% higher (not too long ago). Ahhh... at least I built the house with approx 34/usd instead of the current rate. On the bright side, USD net worth higher than ever. I'll wait.
Yes, USD net worth for many Americans is higher than ever. I took some profits and converted to cash just yesterday. I love the free market. :D

The exchange rate will come back.
The exchange rate will get worse if Trump has his way.

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Re: Currency Crisis Happening Now

Post by AlexO » July 20, 2019, 3:48 am

pipoz4444
[/quote]

Good luck with the move. You don't have to be wealthy to have a contented happy life here in Thailand. I'm by no means wealthy but I do have a decent surplus every month from my lifetime pensions. I was priced out of my health insurance policy here but my nest egg is more than the policy would have covered anyways. Hopefully I will never need my nest egg and my son will inherit it. Actually, I'm afraid to ever tap into it in case of any serious health problems. I feel good that after I am dead and gone, my wife will be comfortable for the rest of her life.
[/quote]

Spot on buddy, who needs sports cars etc Who needs the trappings of money that need to be shoved into peoples faces to show how 'wealthy' you are. As long as you have a wee surplus each month and are not living like an Aberdonian life can be good here. Ok exchange rates are stinging a wee bit just now but, the Hi So's day is coming.

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Re: Currency Crisis Happening Now

Post by daxbr » July 29, 2019, 11:40 am

parrot wrote:
June 20, 2019, 2:43 pm
The benefit of having moved here in 1996.......$1.00 = 25.13Baht. Today $1.00 = 31 and change = +20%
Must have crushed right after as I remember USD-THB44 in 1998.

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