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Thai Gold: Purchasing Services and Storage?
Transcript of the above video:
If you are living under a rock, this may be news to you but gold, the price of gold is going up, substantially. My personal opinion is we are seeing major changes to the trading system of the world, the sort of lanes of trade if you will of the world and this is having an impact on the gold price but it's not just having an impact on the gold price in the West. Thailand has its own weight and measure of gold. As I have discussed in other videos, the Thai Baht weight is a different weight and measure of gold and by weight and measures, I mean 'weights and measures' as defined under the terms of the Constitution of the United States itself. Thailand utilizes a different system and there are many ramifications for that which I am not going to go into in this video, but long story short, it is important.
The point of this video though is yeah gold and other precious metals, most notably silver are in increasing demand. I think it's worth noting, look, we are a law firm but few people, or oftentimes people overlook some of the services that Attorneys - I'm an American Attorney, we have Thai Attorneys here in the office - folks sometimes overlook some of the services that Attorneys can do especially as it pertains to storage, what we sometimes refer to in the Common Law vernacular as bailments””, basically acting as a good faith receiver of goods, holding goods, for eventual pickup by other parties or for transfer to another party. Again, these are the type of services that Attorneys can provide under certain circumstances, within the bounds of the law and you can have specific types of contracts drawn up for certain types of performance with regard to when and where certain property should be available. There are a number of different ways that storage and basically service contracts can be set up along the lines of, or in the context of bailment, where basically one could instruct someone to buy certain products, hold it for them until they can pick it up themselves. That's just one ramification or one aspect of this entire basically body of law, if you want to look at it like that.
But basically, long story short, Thai gold is going up, international gold is going up. There may be benefits to having certain bailment facilities in different jurisdictions here in Thailand. Again, we are a law firm based here in Bangkok. Bangkok is one of the epicenters of gold trade here in East and Southern Asia, so I expect there may be some demand in the future for folks to avail themselves of possible Attorney services associated with Thai gold, international gold, as well as possible silver and other precious metals here in the Kingdom of Thailand.
