• Thanong
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  • created : 2007-07-02
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Thanong
Thanong Khanthong
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Thursday , July 5 , 2007
Mini series on 1997 crisis (11)
Posted by Thanong , Reader : 1038 , 19:28:24  
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The Six-Day BattleBETWEEN Thursday May 8 and Friday, May 15, 1997 – with May 10-11, 1997 off for the weekend -- the hedge funds and foreign speculators determined to slam Thailand's currency peg system into pieces. Lurking at every corner of the world's financial centres, they rolled out their arsenals and took aim at the baht."They intended to kill us on spot. We could not do anything, nor did ....


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Mini series on 1997 crisis (10)
Posted by Thanong , Reader : 784 , 18:52:03  
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Anatomy Of A Currency AttackTo illustrate the baht attack, an incident in the final week of January 1997 served as a good example. On that day the attack almost sent the baht to break the psychological Bt26/US dollar level after the currency speculators drove it up to Bt25.969.Again, the rumours were coming out of the Singapore market, which was the region's financial centre. Baht offshore in Singapo....


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Miniseries on 1997 crisis (9)
Posted by Thanong , Reader : 956 , 13:21:11  
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The hedge funds circled around the baht The hedge funds started to prey on the baht in November. The attack resumed in earnest in after periodic bouts since the early 1995. It coincided with a political transition period.Banharn Silapa-archa, the leader of the Chat Thai Party, had received a thumbs-down over his management of the economy. He lost a finance minister, Dr Surakiart Sathirathai, and a Ba....


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