Transcript of the above video: 

As the title of this video suggests, we are discussing or asking the question, 'why you can low inflation suitable for Thailand?' Let's dig in here. I thought of making this video after reading a recent article from the Bangkok Post, that is bangkokpost.com. The article had, in my opinion, one of the most ridiculous headlines I've ever read. Finance Minister says low inflation, strong Baht hinder growth. Huh? Quoting further: "Inflation remains too low and the Baht is excessively strong, which is not conducive to economic expansion since Finance Minister Pichai Chunhavajira." Well I would say we are not in a high growth time in the world economy and also demographically as you have discussed non-stop and by you, whatever World Economic Forum spewing philosophies folks have been spewing roughly the past 14 - 16 months says that, "oh, the demography in Thailand is all messed up so therefore it's going to show lower growth, because isn't the point that Thailand already has hit the level of a sophisticated economy, and yes sophisticated economies have lower birth rates and so yes, those economies are not going to expand like oh, I don't know, Indonesia, where if you put a laundromat into certain places in some of these countries, it would increase GDP by 1% okay. Thailand is not an undeveloped country; it's already a sophisticated economy. Meanwhile inflation is a secret tax that extracts wealth quite frankly from not only everybody, but it especially and most perniciously extracts well from the lowest strata of society. So it begs the question like, what do you mean that “low inflation is hindering growth”, and what growth? In what terms are we talking about growth? Because again for the last year, people have been saying, especially from the “core coalition” of this government, who seems to again be enamored with World Economic Foreign policy so much so our Prime Minister felt to need to go over there. Then meanwhile, whatever it is Mr. Thaksin is at this point, if not directly involved with these folks, he's made a bunch of speeches talking about all these WEF talking points. My point being, how is again low inflation bad for anybody in Thailand really? And what's this growth meanwhile we're talking about in terms of financialized nonsense? I mean where's the growth in the West from all of this "let's go into a super amount of debt and then jack-up inflation." Where does this prosperity come from? I'm not seeing it.

That said, quoting further: "Speaking on Thursday at the Money Expo themed "Digital Finance for All" - well what if we don't all want Digital Finance? Meanwhile quoting further: “Mr. Pichai vowed to revive the "Easy E-Receipt" initiative..." Again, just this financial shell game chicanery in lieu of doing something substantively good for the people of Thailand, that's what this Easy E-Receipt is. I'm making another video contemporaneously with this one where I talk about that. Quoting further: "...to stimulate spending at the beginning of next year." Why does spending need to be stimulated? We already discussed this. This past year, quarter one showed the largest increase in consumer spending. Then meanwhile, the Government, not the whole Government, the “core coalition” Party, has run around telling us for the past year we are in economic dire straits and what was the answer? A huge amount of national debt, all for some digital currency magic bean money that would put us all into its totalitarian super surveillance state. It's looking to me like more and more, these folks that are espousing these WEF sort of visions, are talking about something or are trying to induce an economic calamity in order to justify quite honestly totalitarian overreach into all of our economy. Meanwhile, they don't seem to really care about what impact for example higher inflation has on the rank-and-file Thai. Quoting further: "He also commented on the Monetary Policy Committee's decision on Wednesday to maintain the policy interest rate at 2.25%." Yeah, first of all, the Bank of Thailand seems in my mind to at least be keeping a much more level head about things and saying, "hey we don't know exactly what's going on. We're just going to stay the course, keep going with what we're doing because quite frankly, especially in the tourism sector, we've seen a massive turn around in Thailand economically." Meanwhile I do get it. Exports are having some issues but that has other factors involved with it most notably Chinese dumping, okay? The point I'm trying to make is again, where's the justification for all of this Government stimulus at a time where I don't think the rank-and-file Thai needs a great deal of excess stimulus from normal times. If we needed stimulus at any time, it was during oh I don't know, the two and a half years when the Government shut us all down. But set that aside, okay. 

Now again, it's this notion that high inflation is good, a strong Baht, sound money by Thailand is bad, these are just nonsensical notions. Quoting further: "He also commented on the Monetary Policy Committee's decision on Wednesday to maintain the policy interest rate at 2.25% stating that keeping inflation at a reasonable level is more beneficial to the economy than maintaining it at a relatively low level." Let's translate that. Higher inflation is better than lower inflation, that's what he's saying; I don't know how he justifies that. How do you tell somebody who lives hand-to-mouth on a working wage, how do you tell a working-class person who the difference between one Baht in terms of ramen noodles makes a difference that substantially higher inflation is good. How do you justify that? I don't get how you justify that, to say nothing of the fact it's a hidden tax. That phenomenon alone to my mind is not something you can justify to the average rank-and-file Thai. Meanwhile quoting further: "Mr. Pichai said he would like headline inflation to reach 2%, the midpoint of the regulator's target range of 1 to 3% which he deemed suitable for the current economy." Suitable to the current economy? I mean how? If you think about that, 2% inflation over 5 years compounded, that's robbing 10% of people's purchasing power, okay? Meanwhile, I have got to be honest with you. This neo-Keynesianism, this whole notion that Central Banks have a mandate to set inflation at any rate is nonsense. Again, it is a secret tax, and I have a real problem with people who hypocritically claim to be populist, while advocating things that would most directly, detrimentally impact the lowest sectors of the socioeconomic strata which is exactly what heightened inflation will do to folks here in the Kingdom of Thailand.