Transcript of the above video:

As the title of this video suggests, we are discussing Gold. I love Gold; I love that movie Goldmember with Austin Powers 3, I love Gold. Yeah Southeast Asia, kind of the epicenter if you will of gold, of the gold trade, whatever you want to call it in Southeast Asia is right here in Bangkok and I think Yawarat, which is Chinatown, what we call Chinatown but that region, that part of the city, boy that is ground zero for gold in Southeast Asia; I think that is safe to say. In any event, I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Gold stays buoyant as Asian bourses rally. Quoting directly: "Gold prices bounced back and managed to stay buoyant on Monday as Asian stocks advanced while investors awaited key US inflation data due later this week that could influence the Federal Reserve's (Fed) monetary policy stance." Quoting further: "Domestic gold prices were also up 150 Baht as International prices rose $5 per ounce and the US dollar weakened, said Jitti Tangsithpakdi, president of the Gold Traders Association."

Yeah, Thai Gold remember is on a different weight and measure from the international gold standard. So that is one thing to understand. Thai Gold kind of operates in its own little world. As we have discussed in other videos, the Thai Baht weight is a different weight and measurement from other types of gold so there's like four nines fine, which I think China uses and then there is 99.9 which I think most pretty sure like US minted gold coins are 99.9. Here in Thailand is 96.5 the Baht weight and we have done another video where I go into all the parameters of Baht weight. Now at first glance, I think sort of somebody who's really not thinking it all through would say "well that's a lower purity, 96.5 as opposed to 99". Yeah but as we discussed in the video I did regarding American constitutional law weight and measurement is a big deal because for example the Thai Gold market is not as susceptible to the volatility that may exist in the international market. I think that's one big key point in favour of Thai Gold is that "hey it's not on the same weight and measurement standard as the rest of the world or as other as other places in the world weigh and measure such metal. For that reason, it allows a certain latitude and a certain amount of insulation from the volatility of the rest of the world's economies with regard to Gold. 

The other thing to remember with regard to Thai Gold is fungibility. Thai Gold can be pretty much instantaneously turned into cash by taking the Gold to a Thai gold shop. As noted in this video this person that was quoted is the president of the Thai Gold Traders Association. The gold shops that you will see here in Thailand are members of the Thai Gold Traders Association. There are rules associated with for example opening, pricing that are associated with being a member of the Thai Gold Traders Association and one thing that they seem to very much pride themselves on is this fungibility of gold. The ability that if you come in during, it is kind of like banking hours, if you come in during their opening hours to one of these Thai gold shops, you can come in with cash and buy Thai Gold or you can come in with Thai gold and convert it into cash. I remember at the beginning, going back to the end of quarter one of 2020 when all the lockdown was going into place and everything, folks were lining up at the Gold shops to get money because that's how a lot of Thais save their money is they put it into gold and so they were lining up to get currency because they needed to get through a hard time. They could see that the things were coming up and again this is just one more of those kind of benefits of living in Thailand that I think a lot of foreigners don't really take into account is this whole Gold system that exists here in Thailand that can be very, very beneficial for those living here.