Dollar/Baht

[Gary 4,118]

The dollar/baht exchange rate yesterday morning was 35.15 to a dollar. This morning it is 35.97. That's the biggest one day move either way that I have seen for years. I hope it keeps going in this direction.

[Owen` 2]

Given the avalanche of posts about currency over the past several months, attributing it all to the evil of GW Bush and the US government's policies -- and how the trend was relentless, unstoppable, inevitable, crushing and would leave all Americans poverty stricken and begging for food handouts soon . . . well, GW Bush is presumably no less evil today than yesterday and the government's policies didn't change today vs yesterday.

 

Conclusion: None of it has anything to do with anything else. Currency fluctuations occur of their own accord. Speculators try to make money anywhere they can and don't care about GW Bush. A few measures like today's from the BoT and they will be scared away to find easier pickings elsewhere.

 

Oh, and you can rest assured those speculators funded and were the source of many news stories you may have read about the coming collapse of America and all things American. It's all about them making money, and it's not about anything else.

Edited December 19, 2006 by Owen`

[elef 0]

The dollar moved up because of measures by the Thai National Bank. The dollar is still very weak and I guess within 3-4 years we'll see 1 dollar = 30 baht. It has been at 30 before, actually some old expats remember 1 dollar = 20 baht.

[Damon 0]

This is why it's moving so sharply:

 

Thai Visa Thread

 

Capital inflows subject to 30% withholding

 

Bank of Thailand to order financial institutions to withhold reserve requirement of 30 per cent of capital inflows, effective as of Tuesday to curb rising short-term inflows which push bath to a new 9-year high Monday at Baht35.09 to the US dollar.

 

Funds withheld from inflows for foreign direct investment can be returned as soon as evidence of the investment is provided.

 

Otherwise, all of the withheld funds can be returned after one year, as long as it can be documented that the initial funds remained in the country for the entire period. If the funds are withdrawn from the country in less than one year, only two-thirds of the amount withheld will be returned to investors.

 

-- from The Nation

 

http://www.nationmultimedia.com/breakingne...newsid=30021867

[touristman 1]

Given the avalanche of posts about currency over the past several months, attributing it all to the evil of GW Bush and the US government's policies -- and how the trend was relentless, unstoppable, inevitable, crushing and would leave all Americans poverty stricken and begging for food handouts soon . . . well, GW Bush is presumably no less evil today than yesterday and the government's policies didn't change today vs yesterday.

 

Conclusion: None of it has anything to do with anything else. Currency fluctuations occur of their own accord. Speculators try to make money anywhere they can and don't care about GW Bush. A few measures like today's from the BoT and they will be scared away to find easier pickings elsewhere.

 

Oh, and you can rest assured those speculators funded and were the source of many news stories you may have read about the coming collapse of America and all things American. It's all about them making money, and it's not about anything else.

 

Short term artificial adjustment.

 

Long term, huge Dollar decline.

 

US virtually bankrupt.Allies and business aquaintance countries deserting in droves.

 

Fucked, fucked, fucked.

 

Make the most of the Thai Banking intervention my American friends, it won't happen every week.

 

2 percent of population have 40 percent of the worlds assets............prepare for runs on currency, even the Dollar, it's all doable now.I agree that for many people it's all about money.Shame.

 

p.s GWB has raped America as is devoid of empathy, compassion and intellect (evil?);and it does matter as you will see in the next decade Owen.

 

Now get back to work Americans

[elro 0]

touristman,

 

is it fun making stuff up all the time?

 

also, on a related note... hollywood called. they asked if you would kindly cease watching their movies. their friends in the music business also asked that you stop listening to american music and the clothing industry will send you a letter asking you to return all your levis to america as well.

 

cheers.

[elef 0]

Do you want to read economics - Is the United States bankrupt? - Laurence J. Kotlikoff is professor of economics at Boston University

The Federal Reserve Bank of St. Louis Review

[ruskiehat 0]

The US goverment I think is quite happy with the low dollar. Well cheaper exports, more expensive imports.

 

Would like to add if Oil is still sold in dollars everywhere, which is a major thing and one of the contributing factors why Bush invaded Iraq, as saddam was starting to sell oil in Euro's. This is once again threatned now by Iran... however even the Europeans don't want this. As this will drop the dollar even more.

 

What amazes me is how high fuel prices are in Europe, you with think with the exchange rate so vastly in the favour of Europe, people would realise altough oil is sold in dollars with their currencies appreciating... fuel prices should drop... but they haven't

[zaphodbeeblebrox 0]

The US goverment I think is quite happy with the low dollar. Well cheaper exports, more expensive imports.

 

Would like to add if Oil is still sold in dollars everywhere, which is a major thing and one of the contributing factors why Bush invaded Iraq, as saddam was starting to sell oil in Euro's. This is once again threatned now by Iran... however even the Europeans don't want this. As this will drop the dollar even more.

 

What amazes me is how high fuel prices are in Europe, you with think with the exchange rate so vastly in the favour of Europe, people would realise altough oil is sold in dollars with their currencies appreciating... fuel prices should drop... but they haven't

 

I agree, that the US government thinks that the weaker dollar will reduce the trade deficit (wishful thinking). Iran recently announced that it is no longer selling oil in USdollars and has switched to Euro's.

 

BTW - I love your avatar. I recently replaced my entire collection of Fabulous Furry Freak Brother comic books, with a brand new set, as the old comic books (purchased in the 70's) were just too tattered. Recently, I was able to download the entire collection onto my harddrive. Remember, "dope will get you through times of no money, better than money will get you through times of no dope". Such was the idealism of the 70's.

[elro 0]

36.55 today

[vegasdave 0]

Well I dont think the US will go bankrupt. But there is definatly a shift in things. The transfer of middle class wealth to the upper class has been massive under the bushyboy admin. This is a real problem and will come back to haunt us.

What I think many folks from outside the US dont seem to realize is just how much wealth the US has. Both in terms of general GDP and in resources. California is in itself one of the largest econonys in the world. I was once talking to a Thai friend, here in the US. She was getting all worried about us running out of food. I went to the cia world fact book and showed her that we export more food alone than the entire GDP of Thailand. Indeed the dollar is taking a bit of a bath but it is in fact benificial because we are able to pay down debt with "cheaper" dollars. There is no question that the next admin will be faced with having to institute some fiscal responsabilty, after years of spend spend spend. But the basic foundation of wealth in the US is there for generations to come. Regarding places like China ect. well basicly they are creating wealth out of cheap labor. This is unsistainable. Along with the corrupt banking and lack of transparncy within their business practices they will eventualy take a nose dive. Look at what happened in Japan, it has taken then years to get back on track. I think that India will in fact have a much better long term prospect than China. The dollar will always ebb and flow just like any other currency. But I must say the long term economic stability of the US if quite good.

[zaphodbeeblebrox 0]

Well I dont think the US will go bankrupt. But there is definatly a shift in things. The transfer of middle class wealth to the upper class has been massive under the bushyboy admin. This is a real problem and will come back to haunt us.

What I think many folks from outside the US dont seem to realize is just how much wealth the US has. Both in terms of general GDP and in resources. California is in itself one of the largest econonys in the world. I was once talking to a Thai friend, here in the US. She was getting all worried about us running out of food. I went to the cia world fact book and showed her that we export more food alone than the entire GDP of Thailand. Indeed the dollar is taking a bit of a bath but it is in fact benificial because we are able to pay down debt with "cheaper" dollars. There is no question that the next admin will be faced with having to institute some fiscal responsabilty, after years of spend spend spend. But the basic foundation of wealth in the US is there for generations to come. Regarding places like China ect. well basicly they are creating wealth out of cheap labor. This is unsistainable. Along with the corrupt banking and lack of transparncy within their business practices they will eventualy take a nose dive. Look at what happened in Japan, it has taken then years to get back on track. I think that India will in fact have a much better long term prospect than China. The dollar will always ebb and flow just like any other currency. But I must say the long term economic stability of the US if quite good.

 

For the most part, I would agree with you vegasdave. The one problem which is about to be unleashed is that most of the counties and cities in the U.S. are going to go bankrupt with the payment of pension and medical benefits. Police men, fire fighters, judges, city department heads, etc. have been given tremendous retirement packages, which the cities and counties cannot afford. Government workers who put in about 20 years of service, can retire at age 50, and collect almost their full salary for the remainder of their life, plus have health insurance benefits. Moreover, many of them continue working at another job, which is known as "double-dipping."

 

GM, Ford and Delphi are already running into problems with having promised too much in the way of pension benefits, and are attempting to reduce benefits. However, with government workers, you can't do that. (this is owing to a ridiculous US Supreme Court ruling many eons ago, which granted government workers due process rights with respect to their employment - that ruling makes it so that government workers can only be fired for gross misconduct). I'm not sure how the federal government is going to deal with mass local government bankruptcies.

[elro 0]

privatization.

 

your town is no longer "anytown usa." your new town name is "anytown usa brought to you by citigroup."

 

or better yet "toyotaville."

[Rhoel 2]

hollywood called. they asked if you would kindly cease watching their movies. their friends in the music business also asked that you stop listening to american music and the clothing industry will send you a letter asking you to return all your levis to america as well.

Did that a long time ago ... there are very few US movies that are watchable at present. Hip-hop and crap, sorry, rap music is an instant turn off. Brittiny Spears and her ilk are commercial zeros to my ear. I have a good collection of CD's so I'm not worried.

 

Ignoring the fact that Levis, Wranglers etc, are asian not American built, I havn't bought any designer rip-off priced clothing since the late '80's. It would seem the falling number of sale in music and clothing indicate that many others like myself who have kept their money in their pockets.

 

People may point the accusing finger and say I buy fake shirts and jeans: I do not. The clothing I buy are genuine shirts and jeans, all made in Thailand and surrounding asian countries - they may carry a fake label but it is of no concern to me - I am not buying for the label, I am buying a 150B locally made shirt, period. Levis and others can jump up and down and complain to the FTA breach. They are missing the point: I have no interest whatsoever in whose label is on the shorts, jeans or shirt - if the clothing is the right size, shape and colour, and the price is right for the material, then I will buy it. Certainly, I cannot tell you whose fake label is in the collar, it's of no interest to me.

 

I'm not stupid enough to pay $70 dollars for a $5 item.

 

Rhoel

Edited January 6, 2007 by Rhoel

[Eneukman 1]

Did that a long time ago ... there are very few US movies that are watchable at present. Hip-hop and crap, sorry, rap music is an instant turn off. Brittiny Spears and her ilk are commercial zeros to my ear. I have a good collection of CD's so I'm not worried.

 

Ignoring the fact that Levis, Wranglers etc, are asian not American built, I havn't bought any designer rip-off priced clothing since the late '80's. It would seem the falling number of sale in music and clothing indicate that many others like myself who have kept their money in their pockets.

 

People may point the accusing finger and say I buy fake shirts and jeans: I do not. The clothing I buy are genuine shirts and jeans, all made in Thailand and surrounding asian countries - they may carry a fake label but it is of no concern to me - I am not buying for the label, I am buying a 150B locally made shirt, period. Levis and others can jump up and down and complain to the FTA breach. They are missing the point: I have no interest whatsoever in whose label is on the shorts, jeans or shirt - if the clothing is the right size, shape and colour, and the price is right for the material, then I will buy it. Certainly, I cannot tell you whose fake label is in the collar, it's of no interest to me.

 

I'm not stupid enough to pay $70 dollars for a $5 item.

 

Rhoel

 

I'm not sure that Levis or Wranglers will agree with you though I do share your sentiments.

 

I have never bought a shirt or whatever because of the label - in fact, I tend to avoid those overpriced rip off brands. I'm happy with shirts costing 150 baht or so and I don't pay any attention whatsoever to any label that may be on it.

 

Alan

[wacmedia 277]

I have never bought a shirt or whatever because of the label - in fact, I tend to avoid those overpriced rip off brands. I'm happy with shirts costing 150 baht or so and I don't pay any attention whatsoever to any label that may be on it.

 

Hi,

 

Too right. That's part of the reason you have been able to afford to retire early.

[MrMango 667]

Please Ruskie, don't tell me you are buying into this doom if the world prices oil in dollars - I have been round and round on the other thread debunking this mith.

The US goverment I think is quite happy with the low dollar. Well cheaper exports, more expensive imports.

Agree basic Economics 101. Is the U.S. happy? who knows, but they cannot do anything either way. The world currency markets are far too big for them to manipulate.

 

Would like to add if Oil is still sold in dollars everywhere, which is a major thing and one of the contributing factors why Bush invaded Iraq, as saddam was starting to sell oil in Euro's.

Total bullocks - The according to the Economist, UAE has been selling some of it's oil for Euros for a while and nobody cares. the real worries is not which currency oil is priced in, but what currency they use for their reserves.

 

This is once again threatned now by Iran... however even the Europeans don't want this. As this will drop the dollar even more.

 

What amazes me is how high fuel prices are in Europe, you with think with the exchange rate so vastly in the favour of Europe, people would realise altough oil is sold in dollars with their currencies appreciating... fuel prices should drop... but they haven't

there is one and only one reason that fuel is far more expensive in Europe than the U.S. - TAXES!!!

Shell oil sells gas in the U.S. and Europe from the same refiner so production costs are the same, and European distribution costs are about as efficient so tell me how it could be anything else than taxes.

[cowboy 0]

"Shell oil sells gas in the U.S. and Europe from the same refiner so production costs are the same, and European distribution costs are about as efficient so tell me how it could be anything else than taxes."

 

Mr. Mango,

 

while I can't gaurantee it, I am willing to go out on a limb and state that gas in Europe and in the US are not from the same refiner. Shell maybe the same parent company for both countires. But the cracking plants will be different based on where the crude comes from. Oil is sold based on its specific densities and impurities. The oil companies have departments of economists that do ecometric models to calculate production rates, and product mix. what crude oil goes where, what products it produces, and where is the final product sold, is a dizzing array of choices.

 

Bottom line: In the absence of government interference oil companies will charge the maximum price that the market will bear.

 

Both Europe and the US have taxes on gasoline. For the last several years that has had little impact on the price. If there were no taxes the oil companies would have charged the same price and made greater profits. Oil companies and crudes oil producers both have the same goal. Maximize profits. For both of them profit maximization occurs with raising product prices.

 

As long as the USA import the majority of its oil products Oil rpices will have asubsatntial impact on the US economy as much or more so than the FED's manipulation of the discount rate.

[Owen` 2]

Not quite sure I understand the outrage here. If you think oil companies are grossly outperforming all other companies to make their greedy shareholders rich, then why not buy shares in Exxon?

Edited January 8, 2007 by Owen`

[MrMango 667]

"Shell oil sells gas in the U.S. and Europe from the same refiner so production costs are the same, and European distribution costs are about as efficient so tell me how it could be anything else than taxes."

 

Mr. Mango,

 

while I can't gaurantee it, I am willing to go out on a limb and state that gas in Europe and in the US are not from the same refiner. Shell maybe the same parent company for both countires. But the cracking plants will be different based on where the crude comes from. Oil is sold based on its specific densities and impurities. The oil companies have departments of economists that do ecometric models to calculate production rates, and product mix. what crude oil goes where, what products it produces, and where is the final product sold, is a dizzing array of choices.

It is my understanding that Shell has a refinery in the Caribbean that supplies both areas. As for the blends you of course right - The U.S. requires scores of blends for different parts of the country Who the refiner or supplier is not relevant anyway..

 

Bottom line: In the absence of government interference oil companies will charge the maximum price that the market will bear.

Of course the statement is correct, but incomplete. The sale price of any commodity has nothing to do with cost, but how high can they charge and still be competitive - Competition forces the price back down.

 

Both Europe and the US have taxes on gasoline. For the last several years that has had little impact on the price. If there were no taxes the oil companies would have charged the same price and made greater profits. Oil companies and crudes oil producers both have the same goal. Maximize profits. For both of them profit maximization occurs with raising product prices.

Again correct of course. You sell your product for as much money as possible, regardless of cost, but your competition also is doing this, yielding a price for a product that is just marginally over your cost (Including Taxes, which are far higher in Europe).

 

As long as the USA import the majority of its oil products Oil rpices will have asubsatntial impact on the US economy as much or more so than the FED's manipulation of the discount rate.

 

Not true. The U.S. could be energy independant, and the U.S. economy would tank. The reason they import oil is because it the cheapest way to get the energy that they need. Importing it or domestic production of it is moot from a economic point of view, as the less that the U.S. spends for oil, the more that they can spend on other things.

P.S. As I remember, Europe imports a higher % of their oil needs than the U.S.

[touristman 1]

Please Ruskie, don't tell me you are buying into this doom if the world prices oil in dollars - I have been round and round on the other thread debunking this mith.

 

Had to laugh when i read this

 

Mr Mango has been given a lesson in Economics 101 by just about everyone he has tangled with in 'off-topic'.............lol

 

I just thought that i had better debunk the myth that Mr Mango is now trying to spread...............''debunking this mith (sic)'' indeed......................lol..........what a laugh.

 

 

Down down down, Dollars going down. Down down down, Dollars going down!

[touristman 1]

Not quite sure I understand the outrage here. If you think oil companies are grossly outperforming all other companies to make their greedy shareholders rich, then why not buy shares in Exxon?

 

Personal integrity? Morality?......2 reasons off the top of my head why i wouldn't buy any stock in such a scum corporation.

 

In the last few years i have had money to invest.I was well aware that once Bush arrived on the scene that stocks like Halliburton (and other war profiteers) and all the Oil stocks / 'Defence' stocks would go through the roof.The only stock that i have every attempted to buy was Google.Money isn't everything..........personal integrity and morality supercede money every time for me, just a personal thing.

 

You post enforces my opinion that the Americans and British are very different peoples.

[MrMango 667]

Had to laugh when i read this

 

Mr Mango has been given a lesson in Economics 101 by just about everyone he has tangled with in 'off-topic'.............lol

Are you smoking funny cigarettes again? I have rebutted every feeble argument from you and everybody else. Panda finally posted a source for his belief in this absurd argument, and it turns out the the source confirmed my statements!

His response as I remember was, "It will take some time to get back to you", (paraphrasing)

 

I just thought that i had better debunk the myth that Mr Mango is now trying to spread...............''debunking this mith (sic)'' indeed......................lol..........what a laugh.

Down down down, Dollars going down. Down down down, Dollars going down!

Maybe, but what does this have do do with the pricing of oil in Dollars?

 

I challenge you to put up or shut up - Post a credible source for your absurd claims.

[touristman 1]

''Down down down, Dollars going down'' - touristman quote

 

''Maybe, but what has this got to do with the pricing of oil in Dollars?'' - Mr Mango reply

 

====================================================

 

Dickwad Mango, the thread is titled 'Dollar / Baht - huge move'.This is what my 'Dollar going down' comment was in regard to, the title of the thread.

 

Thread-fucking moron!

[MrMango 667]

''Down down down, Dollars going down'' - touristman quote

 

''Maybe, but what has this got to do with the pricing of oil in Dollars?'' - Mr Mango reply

 

====================================================

 

Dickwad Mango, the thread is titled 'Dollar / Baht - huge move'.This is what my 'Dollar going down' comment was in regard to, the title of the thread.

 

Thread-fucking moron!

Really? this thread has everything from Levis to movies - Where your outrage there?

 

Again - Put up or shut up...