… Today, it’s Bank Of Thailand’s turn.
After the Prime Minister monday… the governor of the BOT is now asking (is begging) thai exporters to not sell their USD !
It’s a clear sign of weakness… the BOT might have reached its tipping point. And might be running out of ammos !
I mean to hear the governor of the BOT speaking again about “speculation” when thai businesses are only following common sense (USD is going down, and will even more when FED will cut interest rate on january 30)… therefore they are only trying to save their arses… I mean it’s staggering of idiocy !
Thai businesses should loose monney just to please Miss Tarisa’s grandeur (who is playing there… her position, by the way) and to be patriotic ?
This is not speculation ! Once and for all. Just the anticipation of an unstoppable and global trend : USD is going down, asian currencies are going up. Period.
Governor of the Bank of Thailand (BoT) says BoT is ready to prevent the baht from fluctuating too much and encourages exporters not to speculate on the currency.
Mrs Tarisa says exporters should not sell off the U.S. dollar to speculate on the baht due to the flagging economy.
The baht value this morning stays at 33.13 baht a USD. Money traders say the Thai exporters keep selling off USD while BoT is trying to intervene by buying USD to prevent the baht from appreciating. (PRD)
Poor Tarisa, I am starting to think the position is unjustly forced upon her and there is no one else better in the country who can do it. Remind me of Michael Brown quote “Can I quit now?”.
May be NotTheNation should do a piece about evil foreign influence tainted thai exporter to sell their dollars. Keep your dollars! Find some other way to get your payment, in gold or something! Unpatriotic group of capitalist swine.
Housing starts in the US worse rate in 27 years; the Fed is going to cut rates again.
The BoT won’t cut rates.
The dollar is going to weaken further; the BoT will continue to have its head up its ass.
Indeed… the situation is getting worse every day in the US.
I mean this week was a real festival. And it’s not finished.
The situation is so critical that Bush wants a “stimulus plan” ! But what for ? And meanwhile, they still refuse to use the dirty “R” word… recession.
Nothing make sense anymore. We have been living since 2001 in a “virtual financial world”. Like the Matrix.
And anyway, what can do 150 billions USD, when every day banks announce dozen of billions of losses and write-off ?
Time go take the red pill. It’s going to be painfull.
So the BOT… within the big picture… well you know… useless. And pointless.