Prasarn not making a diplomatic gesture

The only free lunch anyone ever gets is when you print money and the money you are printing is a reserve currency. There are only a few of those currencies and the euro is one of them. That’s why everyone in Europe, including the Germans, have been doing their routine for more than three years, and can be counted on to do almost anything and everything to keep the euro zone intact. That’s why even the Greeks have been foot-dragging for three years and still get away with it.

But the baht is not a reserve currency, so the Bank of Thailand cannot just sell someone else’s US treasury bonds – the someone else being member-bank customer deposits, is that not right?

Steve

Bangkok