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Thai Money Changers Closed


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Sadly, these guys appear to have been skirting the law for years, and finally for some reason (maybe acting on a complaint), they have finally cracked down. In the long run, in this country, it doesn't pay to play any game that isn't on the straing and narrow. They just don't have that much of a sense of humor in cases like this.

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Let's see, they seized 2.7 million kyats... at today's black market rate, that comes out to, um, four dollars and twelve cents...

 

I'm sure this crackdown has no real bite behind it, just like the occasional 'crackdowns' on Nana and Soi Cowboy - it's probably just a push by the gem dealers in Mae Sot to get the Burmese traders back into the stone market and out of cash. Stones are, after all, a relatively stable commodity, and it's just so much easier to stuff $10,000 worth of Mogok rubies up your ass to cross the border than, well, $10,000 actual dollars...

 

Does this mean I can't use kyat at the Bai Fern anymore? Ah well, no worries...

 

YimSiam

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Most of the good Mogok rubies doesn't make it to Mae Sot as the traders don't want to take the risk of travelling through Karen State. In July this year the local police introduced a gem traders licence for all dealers whether they be local thai, day traders from Myawaddy IDP's or foreigners. There was a case in June where an American guy had all his purchases confiscated (rather large jade items) and was deported because he bought from an un-licenced dealer.

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