I am the same as you, Aquacell1: I ALWAYS use cash whenever I buy something in Thailand, and I refuse to do business with shops that refuse cash - and I tell them in no uncertain terms that I will NEVER support their business again!
My friend's real estate business... has not sold a single property in 2 years. More than 400 listings of riverside property in Kanchanaburi, not far from BKK, and mostly customers from BKK. People are still looking but afraid to spend. There is an economic issue here. Lending and spending are down. Record factories closed this year. That's not just hyperbole. The test isn't how much they set aside. It's instead how much actually gets withdrawn, and how does that compare to previous years.
@@zzzzzach noticed lots of unsold properties myself. Made a few enquiries. Mostly bank owned and overpriced....ie same price as new but now mouldy and full of stray dogs
@@doodlegassum6959 She has over 400 properties, mostly not developed so it has nothing to do with condition as it's raw land by the river. Normally these properties sell relatively easily depending on the price and area. She has some properties at great prices and people are not buying these either. Properties that would have only been on the market for weeks instead of months and years when the economy was good. People still reluctant to spend any money at all, even for a great deal.
Yesterday i went to a Major Cinema flick and the priks refused to take cash. Also i was told that the TDS suffering firm Starfaacks is doing the same here Thaiwide.
Thanks for the analysis! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Central Bank released 610 billion baht in liquidity to banks…. Banks have kept 550 billion in reserve deposits and purchased government bonds benefiting from the interest rate spread. But it does show on the balance sheet. You need to do a bit more research on what is really happening to avoid future embarrassment… just saying. Keep an eye on NPL’s and consumer debt and ask yourself why, if everything is so good, have housing and car sales been hammered over the past couple of quarters
respect your work Ben 🔥 but that exactly what happened in 07-08 when Obama has flooded economy with cash in US to prevent the massive collapse. That was the reason of a such fast recovery to the new ATH
Don't you dare EVER lose your Cerebral Aptitude or passion sir. You are next level untouchable with what you offer. Thank You.
I think the recent strength of the TBH (USD excluded)against a lot of other currencies has caused this concern
Thb... Baht... Not a bath
I always enjoy Ben's passion on topics such as this!
Thank you
Cash is king, and they don’t talk about credit card debt. I prefer to spend cash in Thailand as well.
I am the same as you, Aquacell1: I ALWAYS use cash whenever I buy something in Thailand, and I refuse to do business with shops that refuse cash - and I tell them in no uncertain terms that I will NEVER support their business again!
My friend's real estate business... has not sold a single property in 2 years. More than 400 listings of riverside property in Kanchanaburi, not far from BKK, and mostly customers from BKK. People are still looking but afraid to spend. There is an economic issue here. Lending and spending are down. Record factories closed this year. That's not just hyperbole. The test isn't how much they set aside. It's instead how much actually gets withdrawn, and how does that compare to previous years.
@@zzzzzach noticed lots of unsold properties myself. Made a few enquiries. Mostly bank owned and overpriced....ie same price as new but now mouldy and full of stray dogs
@@doodlegassum6959 She has over 400 properties, mostly not developed so it has nothing to do with condition as it's raw land by the river. Normally these properties sell relatively easily depending on the price and area. She has some properties at great prices and people are not buying these either. Properties that would have only been on the market for weeks instead of months and years when the economy was good. People still reluctant to spend any money at all, even for a great deal.
Yesterday i went to a Major Cinema flick and the priks refused to take cash. Also i was told that the TDS suffering firm Starfaacks is doing the same here Thaiwide.
It’s an amazing ridged economy and I’m extremely happy about their cash economy also, Thai people are extremely smart business people.
Just wondering how much the cannabusiness is worth now?
In Phuket, cannabis, is bought more from residents than tourists. I'm resident, I can see from my friend's business. Very low and slow business imho
Thanks for the analysis! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Maybe off topic but what about Bitcoin? I can't understand what Thai gov is doing with it
Central Bank released 610 billion baht in liquidity to banks…. Banks have kept 550 billion in reserve deposits and purchased government bonds benefiting from the interest rate spread. But it does show on the balance sheet. You need to do a bit more research on what is really happening to avoid future embarrassment… just saying. Keep an eye on NPL’s and consumer debt and ask yourself why, if everything is so good, have housing and car sales been hammered over the past couple of quarters
Hold the line thailand don't let them divide and conquer
I love your video 👏👏👏
respect your work Ben 🔥 but that exactly what happened in 07-08 when Obama has flooded economy with cash in US to prevent the massive collapse. That was the reason of a such fast recovery to the new ATH
First of all, why do you banks even need to set aside cash? Doesn't make sense and actually it's not a lot 150bil baht, is even less than US$5bn.