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Foreign Financial Media Have Bullied Thailand Too Long?
Transcript of the above video:
For those who are unaware, the thumbnail we are using on this, it's got old Alan Greenspan, Larry Summers and Robert Rubin with the Committee to Save the World, and I added a little bit in there where I said, "except for Thailand and Southeast Asia", because if anybody knows anything about the '97 financial crisis - and I urge you to check out the link of the description below - I put a link to the article from this Time Magazine article from back in the '90s from this Committee to Save the World. That was the featured article associated with this cover of the magazine of again Greenspan; these are the Central Bankers basically. Larry Summers I think was Treasury Secretary before; Ruben, he was Treasury Secretary; Greenspan was at the Fed, but basically, if you read the article I remember at the time reading of this article and other articles similar to it where they talked about how these Central Bankers in the West were on the phones into Asia to create a firewall so that all of this contagion didn't come back over to the West. Well the reason was the West created it in the first place. It occurred out here and then it went back over there and they thought it would metastasize back that way but basically what happened is the Central Bankers just basically created a situation where they firewalled themselves, saved themselves from all their own risk and then left us out here in Southeast Asia - it wasn't me at the time, I wasn't out here then in '97 - and again this harkens back to '97 and the reason for the video is talking about the foreign media and how they portray this stuff, they made it look like it was Thailand; it was all Thailand's fault. "Oh, the Thais are so silly, and they don't know how to do anything", but when you read these articles, these folks were on the phones to keep this from spreading into the USA and into the West because it was their investors that had made the bad investments that were having the negative ramifications out of it. And then they came in and did kind of proto bailouts and things like that, but at the time it was "restructuring" but restructuring sort of under supervision of the American Financial Authorities which basically meant they could do whatever they wanted. But they didn't care about Southeast Asia. That's the point. They maintained a lot of ongoing if you will, standard of living at the expense of Southeast Asia and East Asia in '97, that's a fact, okay?
That said, I think it's worth noting this one quote from that Time article. Quoting directly, and again the link is in the description below, quote: "A Thai banker who breaks the rules by passing a $100,000 to his brother-in-law puts the whole system at risk." Are you kidding me? That was the kind of ham-fisted propaganda you were throwing at us in '97 when we now know the West has been printing money like a drunken sailor wallpapering his house. I mean this is insane, okay. And to actually have had the temerity in retrospect, to blame this on a "Thai Banker who breaks the rules by passing $100,000 to his brother-in-law". First of all, bankers here in Thailand are just known for handing out a hundred grand in a pop, okay? And that's why this is so absurd; that's why the quote just made my blood boil when I reread that article, that somehow this was all Thailand's fault because of our corruption here. No! Go back and look at the systemic causes of what started out here, the symptoms that manifest out here. It was from bad policies up to that point and it is my argument George Soros et al utilized that particular crisis to then put Thailand into a trap and then put her under the IMF which is difficult on the best of days to deal with it, to get out from under those folks, looks me like they were putting Thailand into a bad position.
The point of that I am trying to make with this video is this bullying from the financial media on Thailand, it needs to end. It's nonsense. You talk nonsense theories and try to apply them to a Thailand that these theories are not fit to purpose. Meanwhile, it's just a bunch of bullying from a bunch of foreigners trying to tell the Thais what to do and induce folks over here like our "core coalition" party that seems so obsessed with the World Economic Forum to get them to do things that are not in Thailand's interests, and again all of the past and foreign financial institutions, foreign players like the World Economic Forum, and most importantly the financial media. Beating up on Thailand and bullying up on Thailand needs to end. Thailand has got a pretty sound economy going out here and compared to all of you guys in the West, I mean you all are broke compared to Thailand, so let's just stop the nonsense.