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Published on July 22, 2007

Everyone is now worried about the Thai baht, along with China's "too fast" growth and the US sub-prime real estate issues.

It is economically and politically dangerous if the baht overshoots too quickly, which is clearly possible. Everyone also has their own ideas on what to do, and the question that has kept popping up in my head, every day for the last year, is why are so many Thai stocks so severely undervalued? That situation has created a siphon hose for foreign money, especially from my home, the US. Even under the most pessimistic of possible outlooks on Thailand's future, Thai stocks are still trading at prices that are too cheap.

There's another problem in addition to the rising baht: many Thai listed companies want to raise capital in their home country's capital market, the Stock Exchange of Thailand, instead of having to borrow money. Liquidity should be rampant, but it's not. Why are only foreigners taking on the risks to maintain Thailand's advancement? I don't think it is just speculative, hot money.  So, to cool off the siphon hose buy Thai stocks. Take money out of the bank and put it to work. Anyone who does and then gets a reward later will have earned those rewards for selflessly believing in Thailand and its people.

Steven Stoffers

Chiang Mai

Scenario gloomy if BOT governor's plans fail

Re: "Raft of ideas to check baht rise", News, July 21.

I hope our central bank governor, Tarisa Watanagase, is successful in weakening the baht by sticking only to the six-pronged strategy of liberalising the dollar accounts of our private sector to counterbalance the foreign inward flow of hot dollars into the Thai stock market. If this goal is not realised, foreign hedge funds will have a field day of hefty capital gains from stocks, coupled with big exchange gains from their eventual remittances when the baht hits below 33. I also hope that she will not have to eat her words and be forced to revert to a fixed exchange-rate system. By that time, I dread to think of the state of the export industry.

In sum, I will pray every day that she will eventually be proven right for her sake and the sake of our country.

Songdej Praditsmanont

Bangkok

General shows he does not understand Pak Mun

Re: "General dares villagers to force open dam gates", News, July 21.

I was wondering what the real problem was with the Pak Mun Dam? Since, it was built for flood control it should be open if there is no flooding downstream from the dam. In addition we are heading into the real rainy season and it does not make sense to have a flood control dam at full capacity. At full capacity how can it be used for flood control?

General Surin Phikulthong pointed out to The Nation that there are vested interests that have usurped the original purpose of the dam. Because of these interests, we all suffer - the fishermen on the Mun River and all those that may be flooded because the dam is not being used for its intended purpose.

Should the military and Isoc (Internal Security Operations Command) really be making riparian decisions? And lastly, I am shocked that a Thai general would openly threaten people in a newspaper article.

Robert Ke

Bangkok

ICT chief did not deliver on YouTube promise

Re: "Hackers of the ICT are possibly Thais in Germany: DSI", News, July 20.

If I were the head of the Information and Communications Technology (ICT) Ministry, Sitthichai Pookaiyaudom, I would worry less about pranksters hacking into the ICT website and more about my reputation and credibility. At the Foreign Correspondents' Club, Sitthichai said he would remove the block on YouTube the following week. That was quite some time ago. He owes everyone who was there an apology for prevaricating.

Dean Barrett

Bangkok

UN reps here having too much fun to complain

Re: "Why no UN push for justice here?", Letters, July 16.

Nick asked why the United Nations, which is investigating extrajudicial killings committed in the Philippines under the current government, is not investigating extrajudicial killings committed in Thailand under the ousted Thaksin regime.

 The answer is simple. Bangkok is a big regional hub for the UN, and UN employees live the life of Riley in Bangkok and Chiang Mai.

They are not about to ruffle the feathers of the local authorities. Thus, matters involving extrajudicial killings, narcotics and human trafficking, and the complicity of Thai officials in such crimes, are ignored by UN officials.

Dick Fabius

Belgium

Iraqi MPs deserve a break from their impossible task

Re: "Soldiers, not politicians, merit a holiday from Iraq", Letters, July 20.

David Barkdull is firing in the wrong direction decrying the August holiday for Iraqi lawmakers and demanding that the "mercenaries" take over from the coalition forces. I say that the Iraqi politicians deserve a break - after all, apart from August being a hot month - these whipping boys are carrying a very, very heavy can.

They are also faced with the impossible task of trying to put their dismembered country back together again after it has torn to shreds by the malicious actions of a foreign government.

As for the mercenaries, if they think the risk is worth US$600 (Bt20,200) per day and feel that they have a large enough supply of luck to ensure their survival, then leave them to it - rather them than me.

As for the poor servicemen/women, they signed on the dotted line, probably out of a genuine sense of duty, to accept whatever comes their way - in good or bad times. I can only deeply sympathise with those who find themselves in the midst of this tragic, though avoidable, nightmare.

I do however believe that I have a better suggestion than David Barkdull for the revision of Iraq security. How about getting all of George W Bush's close circle of friends to recruit from their immediate family and friends and enlist them for duty in Iraq (Bush's two daughters would be eligible for combat). Also, recruit the families of all the Fox TV fanatics, oil magnates, weapons suppliers and journalists who trumped up the weapons-of-mass-destruction lies and the proposed "cakewalk" into this Pandora's box. Add to that the submissive docile politicians who didn't have the spine to stand up to the deception and allowed it, and we probably have more than enough. Surely that would make up a force of at least 177,000.

The top tiers could dip into their own massive personal fortunes to subsidise this misadventure, which many of them projected could be "done and dusted" at a cost of $20 billion (the cost of the war to date is nearing $300 billion).

If this idea were to take hold with the people who were so sure about attacking Iraq, it would at least demonstrate a level of courage and conviction yet unseen. Also, if they were to dip into their pockets, it would take the burden off the poor US taxpayer.

Meanwhile, to the Iraqi members of parliament, enjoy your vacation, and to the mercenaries, good luck! And to the poor serviceman: sorry boys - look what a mess they got you into.

A Warner

Bangkok