Transcript of the above video: 

As the title of this video suggests, we are discussing justification of cash withdrawals from Thai Bank Accounts. I thought of making this video after reading a recent article from the Nation, that's nationthailand.com, the article is titled: Bank of Thailand Launches Crackdown on High Value Cash Transactions. Quoting directly: "The Bank of Thailand has implemented new rules regarding customers to justify cash withdrawals of 5 million Baht (that is $115,000 approximately) or more to help tackle financial crime. The Thai financial sector entered a new era of regulatory scrutiny today, April 1, as the Bank of Thailand launched a strict oversight program designed to combat money laundering and illicit financial flows." Apropos of what? Where is the data that we needed this, Bank of Thailand? Explain that to me. Because the only people I've heard that have been affected by this are people that are innocent, and not subject to due process, no warrant, just “oh, your account is frozen because we think it looks weird; because the AI said so." 

Meanwhile, I've still got scammers that pretend to be our firm - and ALERT, if you are not talking to us through [email protected], or [email protected], you're not talking to us. Those are our two main websites; that's where our emails are from. We still get folks there impersonate us and still use accounts to try to get money off folks. I have made police reports about it time and time again. So, if that's the priority, why aren't you doing anything about that? Why is that not abated amidst all of this hyper-overreach toward totalitarianism? Quoting further: "Under the new risk management criteria for cash related transactions, any individual or business attempting to withdraw 5 million Baht (approximately $115,000) or more in cash at a bank branch must now provide a formal declaration of purpose." Why? How is it their business, if it's your own money? Quoting further: "The policy aims to close significant loopholes that have historically made large-scale cash transactions difficult to audit." You mean being able to have financial privacy for us to do our own business? And before anybody says, "well come on, it's 5 million Baht. That's a high threshold". It always comes down. It starts off at some huge number that nobody cares about, and then the next thing you know, it's 5,000 Baht, or 50,000 Baht or something like that that will affect everybody. 

I think it's funny the FBAR requirements, if you have $10,000 in one or in aggregate of many bank accounts - this is from a US tax perspective - one or many bank accounts, you have to report that bank account to FinCEN, to the US Treasury Department. That law came into effect sometime in the 70s I think. Back then to have $10,000 in an offshore bank account you're basically Pablo Escobar, so everybody just put up with it because it's "aahh, it doesn't pertain to me." Now it's one of the most onerous aspects of dealing with one's taxes and we are all just stuck with it I guess because we put up with it back in 1970. I cannot imagine this will be that much different. Now they are saying, "oh you have got to show cause, you have got to give a reason to remove your own money." 

I'm sorry this is just going to a bad place again as I ‘have discussed in other videos, this  is clearly the result of undue foreign influence from the likes of the World Economic Forum, as well as the Organization for Economic Cooperation and "so-called" development although the only development I've ever seen is the development of totalitarian oversight on our banking in a way that does threaten in my opinion, the national sovereignty of this country, as has been exemplified by Mr. Trump's Executive Order getting rid of this back in the United States where he specifically said it does conflict with national sovereignty issues, and again, I think it's a serious question for here in Thailand. 

That being said, it remains to be seen how all this plays out, so we'll certainly be keeping you updated on this channel as the situation evolves.