General Reports

[Mr Enternational]

Gold first hit $800 per ounce on January 14,1980 .

So the price fell after 1980? Because I remember when gold was $400 per ounce. "In 1990, an ounce of gold was worth $400, and fell to $280 in early 2000. ".

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

[TConor]

Your opening statement is based on a very BIG assumption. Why would you think I want to sell my gold in the (Dis) United States of America? It is a fucked up country. But this is not the thread to discuss that. To buy gold in Thailand and sell it someplace other than Thailand would be counter productive to my gold plan in Thailand.

Thank your for you very informative post about gold in Thailand and your opinions on trading it. You and I obviously look at finances very differently or your have never actually bought or sold in gold in Thailand. That is ok. Maybe you are sharing your trading experiences and have indeed lost your shirt and don't want me to loose mine. Either way I appreciate it my intelligent and well traveled ISG Brother.

I see gold as a store of value. I take 70000 THB and buy gold with it in Thailand. If times get hard I can sell that gold and (depending upon the price of gold at the time of sale) and get more or less 70000 THB back. No exchange rate issues..

Yes, gold is considered a store of value. Gold has been used as money for exchange, as a store of value, as valuable jewelry, and as other artifacts. Gold is rare and difficult to extract, which adds to the perception that gold is a valuable commodity. Gold is Only worth what the next sucker I mean investor is willing to pay you. I remember back when gold first hit $800 and ounce and silver was $50+ and ounce. Gold first hit $800 per ounce on January 14,1980 . This was after the price of gold soared when it was released from government control. The current price of gold is $1,994.71 per ounce. You do the math. In round numbers $2000 - $800 = $1200.

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.

[Explorer8939]

This was my plan, might still be but just 180 days a year and then off someplace else. I've watched a few videos of people buying baht gold it seemed pretty straight forward from a shop that's been in operation for 100 years. I imagine if they were cheating everybody somebody would know by now. I don't mind paying a premium on gold as I consider the fiat currency I'm using worthless. Even more so in the last three years of build back better. If my house sells soon I might hurry to Thailand temporarily before Jan 1, 2024.

I just use a bank account. When the balance is too low, I use Wise to transfer cash from my US bank to my Thai bank account. It's all in "fiat" currency, which is what the bars and ladies accept.

Try paying your bar bill with gold.

[SubCmdr]

Poor Thais do as the Commander says.

They sure do. Thanks for the confirmation.

Ever seen a Rich Thai wearing a Baht Gold Necklace. The big one.

Unless rich Thais are walking around in Central Pattaya I cannot say I have ever seen that. But in fact I cannot say that I have seen a rich person in any country wearing a gold necklace. You know why that is? Because their gold is in vaults diversified inside and outside of the countries they live in. I am not rich, but I have seen it.

[SubCmdr]

This was my plan, might still be but just 180 days a year and then off someplace else. Ive watched a few videos of people buying baht gold it seemed pretty straight forward from a shop that's been in operation for 100 years. I imagine if they were cheating everybody somebody would know by now.

You and I are on the same page my ISG Brother. Here is how I have seen it work:

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.

I don't mind paying a premium on gold as I consider the fiat currency I'm using worthless. Even more so in the last three years of build back better. If my house sells soon I might hurry to Thailand temporarily before Jan 1, 2024.

My idea is to create a store of value here in Thailand. Not selling into the world gold market. So, what matters is the amount of THB going in and the amount of THB coming out.

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..

[Raj Patela]

This was my plan, might still be but just 180 days a year and then off someplace else. I've watched a few videos of people buying baht gold it seemed pretty straight forward from a shop that's been in operation for 100 years. I imagine if they were cheating everybody somebody would know by now. I don't mind paying a premium on gold as I consider the fiat currency I'm using worthless. Even more so in the last three years of build back better. If my house sells soon I might hurry to Thailand temporarily before Jan 1, 2024.

Poor Thais do as the Commander says.

Ever seen a Rich Thai wearing a Baht Gold Necklace. The big one.

[TooDirty]

Thai people use gold as a savings account. Gold shops are plentiful and allow you to buy and sell gold for fiat currency (THB) very easily. When in Thailand it often makes sense to do as the Thai people do.

This was my plan, might still be but just 180 days a year and then off someplace else. I've watched a few videos of people buying baht gold it seemed pretty straight forward from a shop that's been in operation for 100 years. I imagine if they were cheating everybody somebody would know by now. I don't mind paying a premium on gold as I consider the fiat currency I'm using worthless. Even more so in the last three years of build back better. If my house sells soon I might hurry to Thailand temporarily before Jan 1, 2024.

[SubCmdr]

And you'll loose your shirt trying to trade gold in Thailand.

Your opening statement is based on a very BIG assumption. Why would you think I want to sell my gold in the (Dis) United States of America? It is a fucked up country. But this is not the thread to discuss that. To buy gold in Thailand and sell it someplace other than Thailand would be counter productive to my gold plan in Thailand.

The US primarily 10 and 18 karat gold. Most gold shops in Thailand are selling 23 karat gold 1. This is equivalent to 96.5% pure gold, which is considered very high by international standards. They will fuck you coming and going with exchange rates, karat differences and grams to ounces conversions.

Thank your for you very informative post about gold in Thailand and your opinions on trading it. You and I obviously look at finances very differently or your have never actually bought or sold in gold in Thailand. That is ok. Maybe you are sharing your trading experiences and have indeed lost your shirt and don't want me to loose mine. Either way I appreciate it my intelligent and well traveled ISG Brother.

I see gold as a store of value. I take 70000 THB and buy gold with it in Thailand. If times get hard I can sell that gold and (depending upon the price of gold at the time of sale) and get more or less 70000 THB back. No exchange rate issues.

I was on the street today and saw: Sell 32700 Buy 32600 a Bhat. That is a 100 THB spread between buying and selling. That is an immediate loss. But I cannot buy a shirt for 100 THB. Well that is a lie, I actually I could, just not one I would want to wear.

Good luck with that plan.

I don't need luck. Like you said, I am smart. That means I am smart enough to understand how the gold system in Thailand works. Then use it for my purposes and goals. They may not be your purposes and goals. But that is ok.

Somebody jumped on me about sharing of information. I am sharing my gold plan in Thailand. In fact, I have spoke with several Thai people who told me that is how they survived in Thailand during the down turn of tourism in Pattaya. They sold their accumulated gold they had purchased when times were good in order to get them through the lean times.

I look forward to your next post in the General Information section if you disagree with my gold buying plans in Thailand. If not, we can put this issue to rest. Bring pristine currency to Thailand if you don't want problems the the money changing booths or the banks.

[TConor]

I disagree. You are only in that position if you have failed to plan. Who travels overseas without a back up plan? I know I don't. I have very little travel experience compared to yours, but I have never been in that position. First of all I have more physical currency that I need. I have never been an a position where ALL my currency has been rejected. Have you?

My point is that particular post was when you return to exchange said money (in the DisUnited States of America) it will not be a problem if you were not the person that created the conditions that caused the Federal reserve note to not meet the standards of the bank or money exchange location where you tried to exchange it. I do my best to ask for the newest most pristine notes directly from a bank before I leave on a trip. That is not always possible if I am in a hurry. But that is the ideal situation.

Intelligent people have back ups to to money exchange. I actually use cash as a back up and rely on ATMs to give me THB for small purchases. ATMs are plentiful and readily and will give you (at least my bank does) superior exchange rates (if you handle the ATM correctly). I use my credit card for larger purchases. It has no foreign transaction fees and also gives me a good rate.

Thai people use gold as a savings account. Gold shops are plentiful and allow you to buy and sell gold for fiat currency (THB) very easily. When in Thailand it often makes sense to do as the Thai people do.

But were you locked out of Thailand when covid hit? I was and couldn't return for 9 months. The best plans can sometimes not work. Luckily for me I have actually never had all my currency rejected. But I know guys not as smart as you, who have. But anyway it just so happens in March of 2020 I was carrying 3 k worth of currency that had great potential for rejection in SEA as I was in eastern Europe for what was supposed to be a couple weeks and then on the States to get clean 100's. I had another 2 k in clean new bills and 3 credit cards and 2 ATMs. Just trying to get back to the States was VERY difficult because the airline were shut down and only repatriation flights for cash were all that was available. I am just trying to let those who may not have your insight and experience know the score. And you'll loose your shirt trying to trade gold in Thailand. The US primarily 10 and 18 karat gold. Most gold shops in Thailand are selling 23 karat gold 1. This is equivalent to 96.5% pure gold, which is considered very high by international standards. They will fuck you coming and going with exchange rates, karat differences and grams to ounces conversions. Good luck with that plan.

I whole heartedly agree with the ATM and CC strategy. It is exactly what I do.

[Nyezhov]

I disagree. You are only in that position if you have failed to plan. Who travels overseas without a back up plan? I know I don't. I have very little travel experience compared to yours, but I have never been in that position. First of all I have more physical currency that I need. I have never been an a position where ALL my currency has been rejected. Have you?

My point is that particular post was when you return to exchange said money (in the DisUnited States of America) it will not be a problem if you were not the person that created the conditions that caused the Federal reserve note to not meet the standards of the bank or money exchange location where you tried to exchange it. I do my best to ask for the newest most pristine notes directly from a bank before I leave on a trip. That is not always possible if I am in a hurry. But that is the ideal situation.

Intelligent people have back ups to to money exchange. I actually use cash as a back up and rely on ATMs to give me THB for small purchases. ATMs are plentiful and readily and will give you (at least my bank does) superior exchange rates (if you handle the ATM correctly). I use my credit card for larger purchases. It has no foreign transaction fees and also gives me a good rate.

Thai people use gold as a savings account. Gold shops are plentiful and allow you to buy and sell gold for fiat currency (THB) very easily. When in Thailand it often makes sense to do as the Thai people do.

Dude this is Asia. Shit happens. Why are you arguing so much. ? Are you the new self appointed expert on everything then. ?

[Explorer8939]

It is still raining in the late afternoon every day, which may limit the number of customers venturing out in the evening. However, foot traffic in the Soi Buakow / Pothole area is trending up.

Still, there are a lot of bars with zero customers and tons of ladies, despite more people traipsing around. One reason is that there are a lot of new bars, maybe double since last High Season. Any more bars on Soi Chaiyapoon and it will sink under the ground.

I am seeing ladies who previously went for 1,000 baht ST now charging 1,500.

And yes, many baht busses at night are full and won't stop for more customers. Two or three may pass until one will stop.

Almost time for my annual escape to Brazil to get away from High Season.

[ThomasCasey]

While I'm usually lurking in Cebu City, I will be heading to Bangkok for the first time since 2018. I would like to try something different this time, and that is to check out a KTV. The idea of getting drunk in a private room while have the GFE with a chick is something that I've always wanted to try, however after RTFF over the years, I understand KTVs are generally giant rip-offs and mostly for the Chinese and Korean mongers.

So, with all that being said, I am wondering if there is anyone who has any recent experience or can recommend any KTVs that are NOT complete rip-offs, where the girls are fun to hang with along with a chance to take them home if we hit it off. I didn't see any recent discussion on any so thought I would ask the question at the risk of getting crapped on for wanting to check out a KTV. I will be going with a friend who is Chinese (although American) so hopefully that helps our treatment.

The alternative I guess is to find a girl on TF or another place and just take then to a karaoke bar (I'm willing to hear any suggestions on decent karaoke bars as well BTW).

TIA!

[SubCmdr]

When overseas, whatever you intent, if you have money to exchange and it doesn't meet the local bank or exchange guys standards you are up shit creek.

I disagree. You are only in that position if you have failed to plan. Who travels overseas without a back up plan? I know I don't. I have very little travel experience compared to yours, but I have never been in that position. First of all I have more physical currency that I need. I have never been an a position where ALL my currency has been rejected. Have you?

My point is that particular post was when you return to exchange said money (in the DisUnited States of America) it will not be a problem if you were not the person that created the conditions that caused the Federal reserve note to not meet the standards of the bank or money exchange location where you tried to exchange it. I do my best to ask for the newest most pristine notes directly from a bank before I leave on a trip. That is not always possible if I am in a hurry. But that is the ideal situation.

Intelligent people have back ups to to money exchange. I actually use cash as a back up and rely on ATMs to give me THB for small purchases. ATMs are plentiful and readily and will give you (at least my bank does) superior exchange rates (if you handle the ATM correctly). I use my credit card for larger purchases. It has no foreign transaction fees and also gives me a good rate.

Thai people use gold as a savings account. Gold shops are plentiful and allow you to buy and sell gold for fiat currency (THB) very easily. When in Thailand it often makes sense to do as the Thai people do.

[TConor]

The legal definition of intent is as follows: Intent generally refers to the mental objective behind an action. The concept of intent is often the focal point of Criminal Law and is generally shown by circumstantial evidence such as the acts or knowledge of the defendant..

If you are the holder of the defaced currency, in absence of an evidence that show you made the marks or even if you did (without intent: like dropped a bill into paint can counting out money for lunch or your kid spilled his watercolors over your Federal Reserve Note) you just take it to the bank (in the (Dis) United States of America. Don't believe me, take it to a US Secret Service office and ask them. They are not going tell you to get an attorney. They are going to tell to take it to your bank. If fact they will accept the Federal Reserve Note if it has lost no more than 49% of the note. If it has lost more than than you can submit it to the USGOV BEP for redemption as mutilated currency.

When overseas, whatever you intent, if you have money to exchange and it doesn't meet the local bank or exchange guys standards you are up shit creek.

[SubCmdr]

The legal definition of intent is as follows: Intent generally refers to the mental objective behind an action. The concept of intent is often the focal point of Criminal Law and is generally shown by circumstantial evidence such as the acts or knowledge of the defendant..

If you are the holder of the defaced currency, in absence of an evidence that show you made the marks or even if you did (without intent: like dropped a bill into paint can counting out money for lunch or your kid spilled his watercolors over your Federal Reserve Note) you just take it to the bank (in the (Dis) United States of America. Don't believe me, take it to a US Secret Service office and ask them. They are not going tell you to get an attorney. They are going to tell to take it to your bank. If fact they will accept the Federal Reserve Note if it has lost no more than 49% of the note. If it has lost more than than you can submit it to the USGOV BEP for redemption as mutilated currency.

Also be sure there are no marks or writing on them.

Yes, it is illegal to deface US currency to the point that it becomes unusable. As quoted from the Secret Service official website: "Defacement of currency is a violation of Title 18, Section 333 of the United States Code. Under this provision, currency defacement is generally defined as follows: Whoever mutilates, cuts, disfigures, perforates, unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve System, with intent to render such item (s) unfit to be reissued, shall be fined under this title or imprisoned not more than six months, or both. "1.

However, there is a loophole in this, because the clause is "with intent to render such item (s) unfit to be reissued," because it doesn't say anything about just writing on it. But technically writing is still defacing1. Some people may maintain that you have to go all out emblazoning markings all over a dollar bill such that it is unfit for use so that, for example, vending machines cannot recognize it for it to pass as defacing1.

It's worth noting that there are some who argue that it's legal to stamp or write on paper currency2. However, the legality might depend on the extent of the defacement and whether it renders the bill unfit for circulation. If you're considering marking on US currency, it would be wise to consult with a legal expert to understand the potential implications.