Transcript of the above video: 

As the title of this video suggests, we are discussing con by credit, a con which like honestly, it seems like some kind of confidence trick. I have been talking about this for a few weeks now. It seemed like, I did a video. There was one of the credit rating agencies, I am forgetting off top off my head, I think it was Fitch was over here talking about how, this article got put out in Bangkok Post. I've read it and actually reread it on a couple of prior videos where they kind of hinted that Thailand may have been having, there may be issues with their debt and with the financial system, but then at the end of that article, they said well actually the DSIBs the Domestically Systemically Important Banks here in Thailand were actually quite strong in terms of being able to pass stress tests and things like this. Oh I don't know why, because Thailand has been inoculated against this for some 27, 28 years now going back to 1997 having had to deal with that, Thailand is sort of prepared for these financial issues and unfortunately there seems to be a lot of undue foreign influence trying, or there are attempts to bring undue foreign influence to bear here in Thailand, in my mind on both the Tax and Banking Systems as a result of all of this World Economic Forum interaction that Thailand's government had with the last Administration here and further the OECD, the Organization for Economic Cooperation and Development, trying to come in here and impose what President Trump through his own Executive Order regarding these matters in the United States, called extraterritorial jurisdiction which threatened the national sovereignty of the United States, and I think that this is just as much a threat to Thailand as well. 

I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Tax review looms amid debt unease. And again, who is uneasy about this debt problem? It's all these same foreign actors whose benefited from Thailand being on its back after 1997. That said, quoting directly: "The Finance Ministry is preparing to review tax deductions and exemptions as part of efforts to address concerns over public debt raised by Credit Agencies." Well are these the same Credit Agencies that took money to give good ratings to a bunch of defunct mortgage-backed securities type instruments that caused us to get into the Great Financial Crisis - or the Lehmann crisis - depending on how you want to term that going back in 2008. How much credence should we really be giving these people? And since when did Credit Agencies or Credit Rating Agencies get to dictate the financial future of Thailand? Who are these people? What gives them this power? What gives them the authority? Oh right, they don't have any. They are just some people who can look at stuff and read and give their opinion. Quoting further: "According to Finance Minister Ekniti Nitithanprapas, the Ministry is scheduled to review the medium-term fiscal framework (MTFF), which serves as the government's fiscal discipline guideline, in November." So they are talking about government financing, and they are trying to freak everybody out about the underlying nature of the private system because the government wants money. Well if the government was so concerned about money maybe they shouldn't have shut us down for 3 years during COVID and they wouldn't have all this need for more government revenue. They are running around like their hair is on fire. "We need more government revenue; we need more government revenue!" Well it was government overreach that led to this "air in the line" if you will in terms of your funding because you shut down all of our businesses and many of them didn't reopen, so there's not the same amount of things to tax. And now it is somehow the public's fault; the public needs to pay more money. Quoting further: "Several issues are under consideration including adjusting the criteria for various tax deductions (which do not require amendments to the Revenue Code), reviewing previously granted exemptions." So oh yeah, we need to go back in there and review whether or not we are going to let people not pay tax. Quoting further: "and promoting the use of digital systems for tax filing." 

Yeah, this whole digitalization is a trap. I think it is clear at this point. We have seen it in banking where they are coming around, and they are trying to impose all kinds of Orwellian stuff associated with biometrics to access your own money. If it's not abundantly clear at this point, there's a ton of foreign influence being brought to bear in Thailand to rob you - either through your bank accounts or through more taxes - which in my mind are needed to do what? To have a bunch of bureaucrats to tell us we can't do business in the first place for 3 years which causes their own revenues to go down, which causes a feedback loop of them telling us we owe more money? Quoting further: quote: "Although we have not yet made digital filing mandatory" - nor should you. Why should digital filing be mandatory? Why not maintain an analog option? What happens if the entire computer grid goes down? Are we supposed to lose everything, and we are all just completely crippled, the whole country. Is this not seen? The myriad ways in which this is bad policy, the notion of everything is digitally mandatory. Quoting further: "I believe transitioning to a digital system -- while allowing exceptions for those with limited access" - yeah, we will allow! Stop trying to just impose this stuff on us and then pretending that you care. Quoting further: "will significantly expand our tax base and demonstrate the government's fiscal discipline." You know what would have demonstrated the government's fiscal discipline? Letting the private sector continue to operate for 3 years and extracting tax money off that. That would have been the smart move. You don't kill the goose that lays the golden eggs. You don't shoot your own dairy cows and then wonder why you have got no milk. It's ridiculous. I'm sure it will significantly expand your tax base when you bag and tag all the citizenry and told them all that they owe money now for nothing, apropos of nothing because they are walking around breathing. Quoting further: "Mr. Ekniti said on Thursday. He said current deductions are too scattered and lack a clear framework." It's your framework. You're the Tax Authority. You created it. Now it's somehow the public's fault because it doesn't work well enough? What kind of ridiculous nonsense is that? Quoting further: "The Ministry must set an annual ceiling for total deductions to define a clear maximum limit, he said." Why? Why does there need to be a maximum limit to deductions? Oh Lord knows, we can't not be taxed? It is just ridiculous. Quoting further: "The review is expected to be completed by November, and a study team is already working on it, said Mr. Ekniti." By the way, how much is that study costing everybody? How much in taxpayer money is going toward this study of something you should know already. It's your own tax system that you are in charge of administering. Why do we need a study on that that the taxpayer has to pay for? Quoting further: "Improving tax deductions and abolishing certain tax exemptions would increase government revenue by a considerable extent, he said." Yeah, abolishing certain tax exemptions. Yeah, raising taxes causes you to have more tax money. News at 11:00! What a shock! 

I mean honestly the way that they talk about this stuff is redundant for a purpose. It is because they just want more money, they want more totalitarian control. They want to tell everybody what to do, but they want to sound like they are reasonable in the process of doing it. This is ridiculous. I think it's the product of undue foreign influence on Thailand being brought to bear. It's going to have just as much of a detrimental impact on this country and this economy as did COVID and the aftermath thereof and the attempt at a digital wallet and every other nonsensical totalitarian thing they tried to roll out in the last couple of years to do nothing but extract wealth from most of the time, the lowest echelon to the socioeconomic strata on the premise that they need more money. But they only need more money because they shut us down and kept us from doing business in the first place. So I'm hoping this stuff is just going into the waste bin and we can move on with having some good public policy being brought to bear. But that said, it remains to be seen, and we will certainly be keeping you updated on this channel as the situation evolves.