359 replies to this topic

[Rossco]

Someone sent this too me from the US - love it...

Pleased to see the US says the Bil Out is without Parachutes. A guy from Royal Bank of Scotland just left on 2,000 UKP per day pension - that is an insult to the system. A drug dealer would have his property, home and assets confiscated BUT a banker - well enough said - he is just an entrepreneur....


21st CENTURY - STOCK MARKET TERMS

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to
Mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no
Allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants
As the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your
Assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears
Down the toilet.

YAHOO -- What you yell after selling it to some poor sucker
For $240 per share.

WINDOWS -- What you jump out of when you're the sucker who
Bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked
Up in a nuthouse.

PROFIT -- An archaic word no longer in use.

[dixon cox]

I took a stroll around town the other day to see what new strategies the banks were employing in an attempt to recover some of the losses. I was surprised at their resolve...

Attached Files

•  atm-slot.jpg   77.85KB   77 downloads
•  barclays whore.jpg   44.84KB   77 downloads

[kanika]

but it is more complicated because baht is tied with chinese juan

Who told you this story? I never heard about this!

It is called "pegged currency" and smaller economies use it to control exchange rates

[Phil Lander]

I'm not really sure what to do about cash at the moment :? with less than two weeks to go I have been watching the exchange rate staying at 20% less than what I normally get .

I have 2700 baht and $200US on hand . I would usually get about 5000 and have the US as a reserve . Maybe just hit a cash machine when I bookin about midnight but would prefer to hit the bars asap and not waste time.

If it starts to rise near the end of the week I will get some cash I think. Otherwise might just leave it till I get there.

[Brit]

It's a good option to leave it until 'in-country'. Because the rates I've found are better in Thailand than in UK.

[donnykey]

It's a good option to leave it until 'in-country'. Because the rates I've found are better in Thailand than in UK.

3 to 4 points better than in Australia....I always take my cash to LOS and exchange there...as long as you've got an in-room safe no problems....Cheers Donnykey

[Kinkoy]

I have never understood why anyone would carry cash to use on their holidays in Thailand.
Unless you have a lot of unofficial or black money to spend.
You get a lot better exchange rate by using your debit or credit card.
Withdraw 20K at the time and the fees is not that much either. I have never had any problems in the ATM’s with that.

I have had a Bangkok Bank acc since 89, and use that the most. But sometimes that runs dry and then I use my Norwegian visa card. Works great.

[Rossco]

I have always found the best rate achieved is by an inter bank transfer from your domestic bank to Thailand (If you have Thai Bank Account).

If you have set up a Thai bank account then transfer over the funds you think that you need for your stay. Transfer in your local currency to Thailand and take the exchange rate in Thailand.

Each and every time I have done this I have been pleasantly surprised.

This only works if you have Thai Bank account.

If no Thai Bank account I agree using a domestic ATM card avoids the need to carry cash - however let your card company know in advance.

I once had my card suspended, as I had not told them where I was going, and as a security measure. If they see irregular spending they will stop payments.

After many years of travel I would always recommend the minimum amount of cash in your pocket.

[dixon cox]

I once had my card suspended, as I had not told them where I was going, and as a security measure. If they see irregular spending they will stop payments.

Good advice.

Just to add onto that re: ATM cards.
Be sure you know what your daily withdrawal limit is in your home currency and convert that to THB with a bit to spare. If you exceed your daily withdrawal internationally your card will almost certainly be stopped.

Also, be sure to carry with you the telephone number of your card provider back home, so if it does get stopped you can at least call them and get it un-stopped.

This exact situation happened to me about 3 years ago and I didn't have the card provider's number, luckily I had another card to use. When I returned to the UK I called the card company and they told me why the card was stopped; because I attempted to withdraw over my daily limit overseas. One strike and your out.

For UK people, Nationwide does NOT charge for overseas withdrawals.

[Phil Lander]

I've always used both my ATM and Visa cards while overseas for withdrawing cash without a problem. I've never notified the Bank yet .

I think I will this time though just in case.

[Kinkoy]

Maybe there is a change in the Baht exchange?

Suchart: Baht devaluation can help exports
(BangkokPost.com) - Finance Minister Suchart Thadathamrongvej said he would like the baht currency to depreciate by five per cent to help stimulate the export sector and shoulder the economy in 2009.

The economic growth for next year should stay at four percent or lower while the export growth would be no more than 10 percent due to the global economic crisis, he said.

The minister said he will discuss the devaluation of Thai baht with Deputy Prime Minister Olarn Chaipravat, who is in charge of overseeing the national economy.

However, Bank of Thailand (BoT) governor Tarisa Watanagase said the central bank will carry on keeping the value of Thai baht to be in line with other regional currencies.

She said foreign investors were selling off their shares to support their mother companies in Europe and the United States, causing the Thai currency to weaken.

According to the BoT chief, keeping the value of baht to the same level as other currencies in Asia would not cause Thai exporters to be at a disadvantage. However, they should adjust themselves by expanding and improving their investments.

The baht on Monday was little changed at around 34.4 per US dollar.

[donnykey]

I have never understood why anyone would carry cash to use on their holidays in Thailand.
Unless you have a lot of unofficial or black money to spend.
You get a lot better exchange rate by using your debit or credit card.
Withdraw 20K at the time and the fees is not that much either. I have never had any problems in the ATM’s with that.

I have had a Bangkok Bank acc since 89, and use that the most. But sometimes that runs dry and then I use my Norwegian visa card. Works great.

Kincoy that may be the case in Norway but in Oz the exchange rate for Credit/Debit card withdrawals is definately less than the rate you get in LOS...(I've used C/C when run out of cash)... also the bank charges for ATM withdrawals are not minimal here ... I Never parade around with a lot of cash...just get it in the safe asap....Never had problem just the way i like to do it ,and the way the Baht has dropped against A$ in the last couple of months (32 to 23) you need to get the most out of your exchanges....Cheers Donnykey