Transcript of the above video: 

As the title of this video suggests, we are discussing banking matters in Thailand as well as - this stuff is now kind of coming up in the home stretch we're getting into now with regard to the election which is set to be held February 8th here in Thailand. I thought of making this video after reading a recent article in the Bangkok Post, bangkokpost.com, the article is titled: Growth to hit new depths. Quoting directly: "Thailand's economic challenges are fundamentally structural in nature. One of the clearest indicators of vulnerability is household debt, which stands at around 87% of GDP, far higher than the 40 to 60% typically seen in many other countries." Let's talk about that for one second.

They constantly bring this up, especially out of what I can only describe as the foreign influence press around here, this notion that Thailand is super in debt. Yeah, they are in debt, in unsecured debt that the government basically or excuse me not the government, that the bank basically, effectively can't recover; that's what they are worried about. My response to that, just relieve the debt. I know nobody wants to hear that, but debt jubilees do work at the end of the day, and they can cause a lot of economic activity in the aftermath because people are sort of again unburdened by a lot of this and quite frankly, I think a lot of foreign institutions came into Thailand and tried to tie things up using debt and it has really not worked the way they wanted because none of it much is collateralized debt - it's just unsecured consumer debt - and they are probably going to have a hard time recovering it, and I'm sorry, you should have taken that into consideration when you made the loans. 

That said, quoting further, and more to the point in this video: "Liquidity conditions have also deteriorated as lending to small and medium-sized enterprises has contracted for 13 to 14 consecutive quarters or more than three and a half years, severely limiting the economy's ability to expand." Well is it that alone or is it the fact that all of this Orwellian scrutiny and oversight has been placed on the banks, and on top of that they have done all kinds of things like place caps on how much money can be moved in a day, especially digitally. Could that perhaps be the reason why liquidity is drying up?

As I discussed in other videos, again doing all this stuff through the banking system has had tremendous negative implications. It's causing, again the liquidity to seize up within the system, the velocity of money is slowing down; that's not good, okay. And by the way, we could have avoided all of this by not bringing in things like the OECD and all of this nonsense that has caused and is causing the destruction of the Western economies. It's too much scrutiny, it's too much oversight, it's too much Nanny-mindering by a bunch of banks who really don't have a right to be doing this in the first place, okay? That's my only point in all of this. 

That being said, I'm sure this is going to continue to be a hot button issue as we get up to the elections, so we'll certainly be keeping you updated on this channel as the situation evolves.