Sunday, March 6, 2011

Thailand also Facing the Kraken

Many thanks to Paul, a reader who sends us this story about the problems that Thailand is also facing from the inflation beast. Any wonder why gold and silver prices are generally strong during the Asian session?

Thailand may remove oil subsidy as fund runs out

BANGKOK, March 4 (Reuters) - Thailand's state Oil Fund has fallen to about 7 billion baht ($230 million), the Energy Ministry said on Friday, suggesting the government may soon remove a fuel subsidy, which could add to inflation worries.



http://af.reuters.com/article/energyOilNews/idAFSGE72302F20110304Read the entire story here:
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2 comments:

  1. JacqMarch 7, 2011 at 4:31 AM

    Dan, I'm liking your use of the term "The Kraken". The visual imagery, that the word implies, is excellent.

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  2. AnonymousMarch 7, 2011 at 5:59 AM

    The "Kraken" is a global event. I see varying news of double and triple-digit annualized inflation across various asset classes in all the BRICs, Canada, Australia, and, of course, the Middle East. (Food, Housing, and Energy being #1,#2, and #3)

    It's not just China that is trying to debase their currency to maintain the trade balance with the U.S.; instead, as Faber accurately pointed out a while ago, all nations are doing the same and it is a competition to get to the bottom first.

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