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Bank error - in my favor!


rookie

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In deference to US virgin, I am not going to prolong this aspect of the thread. Instead, I will highlight one part of HT's thread to illustrate how far out his views are:

 

US refuses and instructs IMF not to help Thailand unless Thailand agrees to get rid of all their tariffs and barriers to US trade. Thailand goes to Japan for help. Japan was going to set up Asian Monetary Fund to help asian countries in crisis. US realized it would weaken the IMF as their blackmail tool and strong-arms Japan to dropping the AMF.

 

Now this is bizzare. Almost as bizzare as the threat by Thailand's rep to the WHO to hold Western tourists hostage. Now let's see: The US is instructing the IMF not to help Thailand? The US uses the IMF to blackmail countries?

 

Why bother arguing (and I am not going to bother) this stuff? Anyone who posts this sort of nonsense is simply demonstrating the lunancy of the anti-globalization/IMF fringe. Loonytunes.

 

Now, back to regular programing....

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Do you work in the Thai ministry of propaganda? Or maybe you habe been exposed to it?

 

Poor innocent Thais, victims of the evil IMF, George Soros and US. Of course, Thailand did nothing wrong and if they did, was conned into doing so...

 

A little one sided, eh?

 

Paillote

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In deference to US virgin, I am not going to prolong this aspect of the thread. Instead, I will highlight one part of HT's thread to illustrate how far out his views are:

 

US refuses and instructs IMF not to help Thailand unless Thailand agrees to get rid of all their tariffs and barriers to US trade. Thailand goes to Japan for help. Japan was going to set up Asian Monetary Fund to help asian countries in crisis. US realized it would weaken the IMF as their blackmail tool and strong-arms Japan to dropping the AMF.

 

Now this is bizzare. Almost as bizzare as the threat by Thailand's rep to the WHO to hold Western tourists hostage. Now let's see: The US is instructing the IMF not to help Thailand? The US uses the IMF to blackmail countries?

 

Why bother arguing (and I am not going to bother) this stuff? Anyone who posts this sort of nonsense is simply demonstrating the lunancy of the anti-globalization/IMF fringe. Loonytunes.

 

Now, back to regular programing....

 

Yes... Such nonsense that even the former head of the World Bank has stated it. I bet you are now going to argue the World Bank is an anti-globalization fringe group, right?

 

http://www.mindfully.org/WTO/Joseph-Stiglitz-IMF17apr00.htm

 

http://www.commondreams.org/views01/1121-03.htm

 

http://www.twnside.org.sg/title/mich-cn.htm

 

Expand your horizons, Gadfly. Stop drinking the kool-aid. Or at the very least, stop pretending you are even remotely researched in the areas of finance and economics.

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Do you work in the Thai ministry of propaganda? Or maybe you habe been exposed to it?

 

Poor innocent Thais, victims of the evil IMF, George Soros and US. Of course, Thailand did nothing wrong and if they did, was conned into doing so...

 

A little one sided, eh?

 

Paillote

 

Thailand did many things wrong. They did those things wrong out of ignorance and inexperience. What the rest of the world did to them was out of an abundance of experience and greed.

 

Btw, Soros himself is against globalization of financial markets. He openly admits that he has taken advantage of globalization to pillage countries and he is an ardent opponent of globalization.

 

Do a little research into the IMF and why it was created.

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I know that Joseph Stiglitz disagrees with the policy measures the IMF put in place after the crisis I don't agree with him, but that debate is irrelevant because even Mr. Stiglitz doesn't claim the IMF caused the 1997 meltdown. You do.

 

That is just bizzare because the IMF came with its bail out measures after the crisis. You attribute Thailand's problems to financial liberalization. Thailand hasn't liberalized the financial sector. It's still highly protected and controlled by a few dominant Chinese-Thai families who don't won't competition from outsiders. I see history being re-written here.

 

OK, others can read our posts and make their own decisions on who is sane here and who has had too much cool aid. I suggest we let this post return to its original topic. If you want to debate this issue more, go back to the economic nationalism thread or the one about Thailand's threat to hold western tourists hostage.

 

 

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"I know that Joseph Stiglitz disagrees with the policy measures the IMF put in place after the crisis I don't agree with him, but that debate is irrelevant because even Mr. Stiglitz doesn't claim the IMF caused the 1997 meltdown. You do."

 

Yes he does. He goes further and suggests the meltdown was orchestrated by the WB/IMF and is part of a general strategy to destabilize developing countries. Read the links I provided.

 

 

"You attribute Thailand's problems to financial liberalization. Thailand hasn't liberalized the financial sector."

 

You don't know your history. Thailand was liberalized in the 90s. The IMF recommended/pushed these principles to the entire region. Thailand lifted capital controls and began using open market transactions to fix their exchange rate in 90s.

 

"It's still highly protected and controlled by a few dominant Chinese-Thai families who don't won't competition from outsiders. I see history being re-written here."

 

Please stop pretending you know the history.

 

http://72.14.253.104/search?q=cache:r0tU9OeMPiUJ:www.thaieconwatch.com/articles/causesof.pdf

 

I have offered extensive support for each and every one of my positions with articles and research. You've only supplied rhetoric.

 

"OK, others can read our posts and make their own decisions on who is sane here and who has had too much cool aid."

 

Indeed.

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If by kool-aid, y'all are referring to the Owlsley-Kesey rather than Jones flavour, pour me another paper cupful! I'm in!

 

To get away from the IMF for a minute ('as if such a thing was possible', I hear Heartthais muttering...) - I'll relate that I was once given double cash when exchanging $500 in a bank in the region. I saw it the moment it happened, but decided I'd think about it for a while, decide what to do... I was a backpacker, it was a windfall for me - and within an hour the police had been to my hotel dorm room and told staff at the hotel to inform them when I arrived. So did I give back the money? Hell no, those were young and foolish days - I got a friend to bring me my backpack, checked into another hotel under a fake name that night, and went off upcountry the next morning... Was nervous while checking out of the country a few weeks later, but no hassle -- haven't been back, though, and hope that incident from 11 years ago is not in the computer...

 

I've been feeling guilty about the teller for years... Hope she survived the mistake -- it was in a country where the authorities don't take mistakes lightly... (Not Burma, I will say for the record).

 

Now, GadThai, HeartFly, back to your debate - I suspect one of you is on the cusp of persuading the other, victory is so close I can smell it! (At least I think that's what I smell.)

 

;)

 

YimSiam

 

"Because that's where they keep all the money."

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<< I wonder if they would be as indifferent if my long term account with the bank had belonged to a Thai? >>

 

Unless you were somebody "important", being Thai wouldn't make any difference with the bank. :(

 

Well, Flashermac...I don't believe being "important" is the only criteria, as this crass parable suggests: :cool:

 

A crusty old man walks into a bank and says to the teller at the window, "I want to open a fucking checking account."

The astonished woman replies, "I beg your pardon, sir. I must have misunderstood you. What did you say?"

"Listen up, damn it. I said I want to open a fucking checking account now!"

"I'm very sorry sir, but that kind of language is not tolerated in this bank."

"What the hell do you plan to do about it?"

The teller leaves the window and goes over to the bank manager to inform him of her situation. The manager agrees that the teller does not have to listen to foul language.

They both return to the window and the manager asks the old geezer, "Sir, what seems to be the problem here?"

"There is no fucking problem," the man says. "I just won 50 million in the damn lottery and I want to open a fucking checking account in your fucking bank, okay?"

"I see," says the manager, "and this bitch is giving you a hard time?

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