Transcript of the above video:

As the title of this video suggests, we are discussing the fact that now, making change in Thailand is going to become some major issue now as a result of all of this undue foreign influence on our banking sector here in Thailand. I've done a number of videos on this in recent days; this one won't be a real long one, but it is important. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Cash deposits over 5 million baht to face mandatory disclosure. I've done a number of videos recently on this topic. I urge those who are watching this video, go check those out. 

Really quickly before I jump in further, as I have discussed in other videos, my better half and I set up a restaurant here in downtown Bangkok. The name of the place is Pancake Palace, as the name implies, American style breakfast anytime. We also have an English breakfast on the menu; we also have American diner style food: hamburgers, cheeseburgers, hot dogs, chilli dogs, buffalo wings, chicken wings. We also have grilled cheese sandwiches; we have glass bottled Coke. For those who, I've had correspondence. “How can we help you out? We know you are not monetized on this channel; I don't need to use a lawyer right now, is there anything we can do?” Well if you want to come down and see us at Pancake Palace, we would love to see you there. Links are in the description below to get you there. 

That said, let's jump into this how now making change is going to be an issue with the banks. Quoting directly: "The measure would also cover large cash exchange transactions requiring customers seeking to exchange 1,000-baht banknotes for 100 or 500 Baht notes to explain the purpose of the transaction, and why the smaller denominations are needed?" Is that not self-evident? Change needs to be made; you have to make change in the economy. 

So now, if you come in, and by the way they're saying well it's a 5 million Baht threshold, don't worry about it. Those thresholds always drop. It’s just the nature of the beast. This never gets better; it always gets worse. And now they are setting the precedent for lack of a better term, and people will say, "Well, it's a Civil Law country, they don't use precedent." Well this is all just banking policy anyway. This isn't law. This is just the bank's telling us this is what they are going to do, which by the way, did anybody vote for that? These people are supposed to be administrators; they are not supposed to be telling us what to do with our own money. But that said, yeah now, it looks like making change is going to be an issue with the banks.

So this is where we are going. It's all coming from offshore undue influence as Thailand is trying to "access" the OECD area which that's like trying to get into the Soviet Union in 1990. That's basically really where we're at, trying to be in the OECD right now. This is why President Trump said no to it. And I have disagreed with things that Trump has done, but he has done some good things and the minute he got into office, he did an Executive Order where he said, "hey OECD creates extraterritorial jurisdiction; it is also a threat to the national sovereignty.” I have talked about this here in Thailand. It's absolutely a threat to Thailand for both of those reasons, and on top of that, just from purely a practical economic standpoint. Again joining this thing now is like joining the Soviet Union in the late '80s or the early '90s. It's getting on a train that is going over a cliff. It's just bad policy thinking; it's going to lead to bad outcomes. I am very hopeful cooler heads will prevail in the Thai Parliament, see this for what it is and reverse course.