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12-07-23 15:29 #13782
Posts: 40Originally Posted by SubCmdr [View Original Post]
Originally Posted by SubCmdr [View Original Post]
Originally Posted by SubCmdr [View Original Post]
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12-07-23 15:16 #13781
Posts: 65Originally Posted by Chop [View Original Post]
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12-07-23 13:21 #13780
Posts: 1985Not financial advice as I am not a financial advisor nor have I ever spoken to one
Something to think about. If anyone is already financially independent and does not have to work please skip this post.
Originally Posted by Chop [View Original Post]
In my youth, I held a Series 6 and Series 7. You are familiar with them? Studied for the CFP but never took it because I changed careers.
Originally Posted by Chop [View Original Post]
We all live on income, not assets. We need assets to generate income. Where do you get the assets that do that for you? That is the question you need to ask your financial planners (sales people) the next time you sit down for a counseling session. Or you can be determined to be a free man and figure it out for yourself.
Now, I trust that you actually were not trying to clown me and that is why I responded here instead of in my favorite thread. LOL!
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12-07-23 12:43 #13779
Posts: 40Originally Posted by SubCmdr [View Original Post]
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12-07-23 03:02 #13778
Posts: 1985Honest reporting on the Tourist Situation in Thailand
"Thailand has received almost 24.5 million international tourists in the first 11 months of the year, in line with the goal established by the government for 2023 but still well below the record of 40 million visitors in 2019.
Between Jan. 1 and Nov. 26 this year, Thailand, one of the world's tourism powers and whose industry was strongly affected by the Covid-19 pandemic, received 24.48 million international travelers, generating income of 1. 03 trillion baht (about $29.6 million) to the country.
The figure is within the goal stipulated by the Thai government, which hopes to attract between 25 and 30 million tourists this year, although it represents only two thirds of the total of 39.87 travelers who visited the country in 2019, before the pandemic.
The data, provided by the Ministry of Tourism, indicates a slower recovery of Thailand's tourism sector compared to its regional neighbors, which is why the administration of Prime Minister Srettha Thavisin has implemented various measures with the aim of stimulating the industry.
Thailand has recently extended temporary visa-free entry for citizens of China, Taiwan, India and Kazakhstan, and relaxed entry conditions for Russian travelers in an attempt to stimulate tourism.
According to ministry figures, a total of 3. 05 million Chinese tourists have entered the country so far this year, far off the government goal of 3. 5-4 million travelers from the Asian giant.
Despite the slowdown, China is still among the main tourist groups registered this year in Thailand, only behind Malaysia, whose international arrivals totaled almost 4 million people since Jan. 1.
Completing the list of countries with the most citizens traveling to Thailand so far are South Korea, with 1. 44 million, India with 1. 43 million, and Russia with 1. 2 million.
By 2024, the Ministry of Tourism hopes to reactivate the sector robustly with the arrival of some 35 million international tourists, 8. 2 million of them from China.
Likewise, it foresees that the total income generated by the industry will jump from the 2. 38 trillion baht expected for this year to 3 trillion baht in 2024, a figure similar to that from the almost 40 million tourists who visited the country in 2019.
International tourism to Thailand, which accounted for 12-20 percent of Thai gross domestic product (GDP) in 2019, fell to 6. 7 million visits in 2020 and 420,000 in 2021, sending the economy into a tailspin. ".
https://efe.com/en/latest-news/2023-...covid-figures/
My Opinion
Thailand is a big place with many tourist attractions. Pattaya is but one of them. The numbers are not broken down by the locations visited in the country. I see a lot of speculation about how High Season is unfolding in the Pattaya Reports thread.
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11-10-23 18:12 #13777
Posts: 1985Lies, Damn Lies and Statistics
In my opinion your post is intellectually dishonest. Here is why:
The post you are responding to is directly rated to a strategy to use gold as a savings and store of value here in Thailand. This was in response to what your wrote:
Originally Posted by TConor [View Original Post]
2. You are comparing gold a safe haven (savings) to the US Stock market. There is not a single financial advisor that will tell you that you should put your savings into in the stock market. Savings is money that needs to be there no matter what the market is doing.
You speak as if the market never goes down. Did you actually put your money (as opposed to quoting statistics) where your keyboard is and were you in the market during COVID? Tell me what happened during that time period? Let me tell you what happen to me. Straight down. Looking at 40% losses during the period. I am glad that was holding cash so that if I needed it an emergency I wouldn't have to sell any stock while my portfolio was down 40%.
Originally Posted by TConor [View Original Post]
Gold is no longer a safe haven. Gold isnt an effective hedge against inflation. Gold is dead.
You may have heard and read these comments, and others like it, numerous times over the course of the recent everything selloff. This is staggeringly shortsighted to me. Gold is down only around 9.5% for the year, despite surging bond yields, and despite the U.S. dollar being at its strongest level ever relative to other major currencies. Given these incredible headwinds, you would expect gold to have lost far more of its value than it has. But compared to other assets, from stocks to bonds to digital currencies, the yellow metal has been remarkably resilient. And thats gold priced in the U.S. dollar. When we price it in other world currencies, gold has done even better since many currencies have declined significantly in value relative to the greenback. This week, the British pound sterling fell to an all-time low against the dollar, as did the Chinese renminbi.
If it all comes crashing down, I would want to have some gold in my portfolio, which has historically been an attractive store of value when markets cratered.
https://www.forbes.com/sites/greatsp...h=5ed566b779ce
Originally Posted by TConor [View Original Post]
Originally Posted by TConor [View Original Post]
Gold is not an asset that generates income, but it can function as a store of value when its price appreciates over time. The worldwide average annual return of gold between 1971 (the year the USA Stopped linking the price of gold to the dollar) and 2022 was 7. 78%, but there can be considerable fluctuations from year to year. For example, the annual return of gold in 2022 was only 0. 4%.
How you like me now?
Originally Posted by TConor [View Original Post]
Originally Posted by TConor [View Original Post]
Originally Posted by TConor [View Original Post]
I am not here to give you or anyone else financial advice.
Please remember that it was you and Raj Raj that challenged my plan to use gold here in Thailand as savings method. You think that I will "loose my shirt" as you put it. Raj Raj thinks it is for poor Thais and that it should not be executed because he is superior to everyone in knowledge of how to judge bar girls and provide investment advice. Did I get that right? Never mind the fact that TooDirty sees things the way I see them. To each their own. I know this will not be enough for either you nor Raj Raj as both of you need to get the last word in. I understand that about you both.
Bitcoin is the peoples money. A digital commodity. Limited quantity. Peer to peer transfer without financial intermediaries. Bitcoin is legal tinder in El Salvador. I dont own any BTC. I also dont own any gold. I just like to talk about them. LOL!
Originally Posted by RajPatela [View Original Post]
Although I don't have any financial advice for anyone I do have some pussy advice. My suggestions: Don't buy pussy, rent it. Remember the more you pay for pussy does not make it perform any better. Keep your booty bill low and spend the rest on yourself or a girl who actually gives a fuck about you. Don't worry about fucking the wives and girlfriends of Thai men. Somebody mentioned that it was ok even if you don't know you are doing it. LOL!.
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11-10-23 10:46 #13776
Posts: 451Originally Posted by TooDirty [View Original Post]
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11-10-23 08:18 #13775
Posts: 90Originally Posted by TConor [View Original Post]
On the other hand my pop put $100,000 into bonds for Washington Power, and that huge loss gave him a nice write off on capital gains for many many many years. Can't really compare 1980 to now when we owe a trillion dollars every year just in interest on the federal debt our elites have saddled us with.
If I could I'd emulate those poor Thai folks you seem to think are not smart and buy a bit of land in Thailand too. Unfortunately, I can't do that.
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11-10-23 05:18 #13774
Posts: 15926Originally Posted by TConor [View Original Post]
I was listening to this rich guy yesterday and he said you would have to be a fool to buy gold as an investment.
https://www.youtube.com/watch?v=MeOum4h19UI
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11-10-23 01:08 #13773
Posts: 548I see gold as a store of value. Up to you?
Originally Posted by SubCmdr [View Original Post]
Gold didn't just double in 43 years it went up by 150%. That's a whopping 3. 488% per year.
A conservative value oriented investor could have put his money in an index fund like the S & P 500.
The average annual return of the S&P 500 index over the past 43 years is 10%.
So let's talk troy oz and actual buying power over the last 43 years:
In 1980, the average price of gold was $614.75 per troy ounce. This is equivalent to $2,378.83 in 2023 dollars 1.
As of November 9, 2023, the current price of gold is $1,994.71 per ounce.
Therefore, the price of gold has decreased by approximately 16.2% from 1980 to 2023.
But what about the US dollar?
According to the USA Bureau of Labor Statistics, the inflation rate between 1980 and 2023 was 273.53% 1. This means that the purchasing power of one dollar in 1980 is equivalent to $3. 74 in 2023 1.
In other words, if you had $1 in 1980, it would have the same buying power as $3. 74 in 2023. And l ot of this just happened in the past 2 years.
To square the circle what would $1 invested in the S&P 500 be worth? Wait for it. $54.76. Next you'll be touting Bitcoin-555.
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11-09-23 22:38 #13772
Posts: 3336Originally Posted by TooDirty [View Original Post]
Try paying your bar bill with gold.
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11-09-23 15:04 #13771
Posts: 1985Poor Thais are smart people
Originally Posted by RajPatela [View Original Post]
Originally Posted by RajPatela [View Original Post]
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11-09-23 14:59 #13770
Posts: 1985TooDirty goes hard in the paint like I do!
Originally Posted by TooDirty [View Original Post]
The Baht gold weight unit
The standard weight unit for measuring gold in Thailand is the traditional 'Baht' unit, with 1 Baht = 15.244 grams or 0. 4901 troy ozs. With 1 Baht = 15.244 grams and a fineness of 965, this means that there are 15.244 * 0. 965 = 14.71046 grams of pure gold in a 1 Baht weight unit.
Gold Jewelry is 96.5% Pure here (23 karats; Let's say your a straight PIMP like me (you might not be but for the sake of example go with me on it) Pinky ring is is 7. 6 grams and costs 472.26 USD.
Here is the math.
965 x 7. 6 = 7. 33 grams of pure gold; that puts the gold at 64.43 USD a gram.
64.43 x 28.3595 = 1826.51 USD / ounce.
So here is the catch: gold price needs to move up before my premium is covered here.
And the actual transaction is done in THB. I did the conversions so that everyone could understand them.
My understanding is that they give the purchaser a certificate with the date of sale, item purchased and weight and price. This information is recorded in the master book so if you need gold bullion cause your are doing some Jason Borne type shit, the Kingdom is not the place to do it.
Originally Posted by TooDirty [View Original Post]
If another global crisis comes and a warning is given: shit or get of the mother fucking pot cause we are going to lock down the borders. I do not believe in running like a * I believe in "standing to' and defending my position. The mother fucking Marines are not coming for me and even if they are I am not getting on the helicopters and leaving my love ones like a girly man! I hung tough in place during the last crisis. It is what I will do in the next one.
In my opinion, the new administrative changes to the interpretation of the tax law are looking pretty draconian. The reporting requirements are looking pretty onerous. Many ex-pats (in my circle) have put investments and major spending on hold and are looking for an alternate plan to avoid the going over the 180 day limit.
I am doing the same the same thing. Once again, I will tell everyone it might affect, not to sleep on this. Do not pay any attention to the professional tricks or part time tricks (including me) posting advice about this issue. Learn how it will affect you directly. Get professional tax advice you can trust..
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11-09-23 13:27 #13769
Posts: 451Originally Posted by TooDirty [View Original Post]
Ever seen a Rich Thai wearing a Baht Gold Necklace. The big one.
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11-09-23 11:02 #13768
Posts: 90Burl Ives knew the score
Originally Posted by SubCmdr [View Original Post]