GBP vs THB

[hhfarang]

Hey HHF

Whoa. The forum would miss you.

No worries Richard, I think they have the internet now in Florida...

[caller]

maybe you should be pointing a finger at cameron & the tories too

How on earth do you blame someone thats not in power yet and hasn't been for 13 years!

Anyway, the Governor of the Bank of England made the point the other day that the economy was suffering because no-one is coming up with the detail of how they are going to manage the economy, election tactics and all that - so let the Country burn as long as power is secured!

The uncertainty of the election, is of course having its effect and as stated on five live this morning, all the financial institutions are taking a very dim view of the fact Labour may cling on!

[Super Joe]

This is a very good point; if I was out of work for a length of time, which could happen very easily in the present economic climate, I could live in the partners village for very little, but there isn't really a completely legal way of doing this.

Are you not married to your partner then Steve. If you are you could legally stay here with the 'family support' visa, with a 400k deposit in a Thai bank.

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Generally speaking the exchange rates are a nightmare for most of us foreigners at the moment, even those of us who bought our money over a few years back at a healthy rate, our businesses that depend on tourists/foreigners spending over here are suffering.

But surely to God the rates will recover to at least an acceptable level when our respective countries come out of recession, no? Or is that too simplistic a view of things?

SJ

[Super Joe]

Hey HHF
Whoa. The forum would miss you.

Second that.

SJ

[redzonerocker]

How on earth do you blame someone thats not in power yet and hasn't been for 13 years!

well they've had plenty of time then to prepare for a change of government & offer the country a decent alternative

the reason the money markets are down is because of the prospect of a hung parliament.

we keep hearing how bad brown & labour are, so why aren't cameron & the tories romping away in the polls, dispelling the fears of a hung parliament.
would the money markets be dropping if the tories had a healthy lead in the polls ???

surely it isn't that hard to understand??

[STEVE G]

This is a very good point; if I was out of work for a length of time, which could happen very easily in the present economic climate, I could live in the partners village for very little, but there isn't really a completely legal way of doing this.

Are you not married to your partner then Steve. If you are you could legally stay here with the 'family support' visa, with a 400k deposit in a Thai bank.

SJ

No SJ, I've been living in sin all these years; perhaps I'll have to get married before 400k becomes a silly amount of sterling!

[Big Boy]

Are we really sure this current crisis is down to political parties? I've said it before on several threads that I remember the Pound going down to 32 Baht in 1991 - I think the Tories were in charge then (ready to be shouted down).

Who was in charge when the Pound went to over 90 Baht? I seem to remember it being Labour with Gordon Brown as chancellor. It was certainly Labour who maintained the strong Pound for so long that it enticed so many expats to Thailand.

It was certainly the Tories in charge during my early visits to Thailand, when we always budgeted on 40 Baht to the Pound.

As I've said, if my memory serves me right, the high valued Pound was purely a result of Labour's government, and now the the glory days are over, the Pound is resorting to pre-Labour levels.

I believe all of the expats who have been enjoying the Pound's boom years need to be very grateful to Labour.

Can anybody tell the Forum the last time the Tories took the Pound as high as is it currently is against the Baht?

To end, I must say that I do not follow any political party - IMHO they're all ar*ehol*s.

[PeteC]

We are seriously considering a move back to Florida. If I can sell my investments here at break even (to what they cost me) we may just do that. Because of the crash homes there are 30 to 50% less now than when we sold ours in 2004. The wife would have no problem finding a job making at least half of what my retirement income is and my former employer would provide affordable subsidized retiree health insurance that works in Florida, but not here... so going back is looking better and better.

Besides, I can play golf there for $20 to $40 per round (with cart) depending on the season.

The window may not be open that long HHF. I know the property prices in California are already starting to creep up once again. Regardless of the economic climate, this baby boom tidal wave we are about to experience will surely drive prices up in the traditional retirement States. Good luck though if you decide to do it. Pete

[caller]

would the money markets be dropping if the tories had a healthy lead in the polls ???

surely it isn't that hard to understand??

Isn't that what I reported the money market guy from five live saying? But you have forgotten the role of the Governor of the BOE and his comments which prompted an immediate drop in the value.

BB - I don't think any UK Govt. aims for a high pound against the Baht, do they?

[Big Boy]

BB - I don't think any UK Govt. aims for a high pound against the Baht, do they?

I agree 100%.

It's just that the thread seemed to be going down the road that the Tories would do what Labour couldn't. If that was so easy, why have they never done it before?

It could, I suppose, be argued that many expats are experiencing financial problems because Gordon Brown led them into a false sense of security.

I think I'm trying to point out that people are clutching at straws (me included if the truth was known) in the hope that the Pound can recover. Personally, I think the country's in so much financial trouble that regardless of who is in power, it's going to take a long time before we see a strong Pound.

[miked]

i believe all of the expats who have been enjoying the Pound's boom years need to be very grateful to Labour.

Big Boy,
are you serious.!!!!!!!!!!!!!!

yes Labour had just returned to power in 1997 and inherited the strongest U.K. economy ever from the conservative party.
the 93 baht rate that year was nothing to do with the strength of the U.K. economy, due entirely to problems in asia. but you are fully aware of this.
in the early 2000s Gordon Browns tax raid on pensions severely damaged private pensions and later on his wonderful decision to sell off vast quantities of U.K. gold at 280 dollars an ounce rates as probably the worst decision of any U.K. chancellor ever.
he has destroyed the economy and once again it will be the conservative party putting the economics in order. please name me one occasion that a Labour administration has left office leaving a strong economy. you cannot because it has never happened.
i know nothing about you but i guess that you are in a safe government job, and will receive an index linked public service pension.???
i also guess that you have never been self employed or have ever run your own business or any business for that matter.
miked

[sargeant]

The first post on this thread makes one think a bit



Author Message
niggle
Guru



Joined: 27 Nov 2006
Posts: 607

Posted: Mon Jun 23, 2008 4:10 pm Post subject: GBP vs THB

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Looking a bit brighter now - todays ATM rate was 65.79 THB to GBP

[Ken]

Pound moved up slightly against USD overnight so should see slight improvement today.

Miked, just been reading some earlier posts by you and you certainly got some predictions spectacularly wrong, like many others. Page 23 for example. Never mind, you also make some very informed posts so hope you continue to do so.

I do agree that the current political situation is affecting the exchange rates, and, as you know, the market hates uncertainty.

You are correct in your observationa about the reasons as to why the THB collapsed but you are a little out with your dates. from it's 2007 high of high 70's, it rose a further 10%+ in the opening weeks of 2008.

As regards your comments about BB's occupation, you appear to be suggesting that if you are self employed and most certainly NOT a Government employee, then you are much better qualified to discuss the GBP/THB rates. Rather a cheap shot! On reflection, I am sure you will accept that this was not one of your better comments and maybe made in the heat of the moment.

[Big Boy]

i believe all of the expats who have been enjoying the Pound's boom years need to be very grateful to Labour.

Big Boy,
are you serious.!!!!!!!!!!!!!!

No, far from it. I'm just using a bit of sarcasm to show that the way many are thinking a new Government might save them. I'm trying to ridicule their false hope. Whoever takes over, the UK is in a mess. It isn't going to be resolved overnight.

i know nothing about you but i guess that you are in a safe government job, and will receive an index linked public service pension.???
i also guess that you have never been self employed or have ever run your own business or any business for that matter.

Yes, I am in a 'safe(ish)' Government job. However, I don't see what my job has to do with the value of the Pound. In addition, what effect would me running my own business have on the value of the Pound - I'd only be a very small fish bin a very large ocean. I will happily debate Government employment with you, but not on this thread. If you think it would be of interest, can I suggest you start another thread in Foo.

[STEVE G]

I feel that one of the problems is that the present government has delayed making the cutbacks required to reduce the budget deficit in the believe that it would be someone elses problem after the election.
This has demonstrated to the market that they have no stomach for the job and so led to a situation where there's a negative reaction to any suggestion that they might have anything to do with a future government.