OPINION

Great expectations

Re: "Decree to remain in place: PM," (BP, June 21).

So, TAT's new tourism promotion expects cash flow of at least 50 billion baht if 90% of the 2.5 million public sector workers each spend 4,100 baht? Can someone enlighten me, please?

Organised religion

Re: "State religion," (PostBag, June 19).

Felix Qui takes his usual shots at religion, but as usual it's at organised religion, so that's OK. Organised religion is an oxymoron. If it's organised, it's not religion. Religion is something that goes on in people's hearts and heads.

There's a joke that once the Devil's demons came to him crying, "Master, master, we're in trouble. God has just invented religion." The Devil laughed. "That's no problem," he said. "We'll just organise it."

In the late 1800s, Swami Vivekananda remarked that he had had the greatest temptation of his life in America. "Who was she, swami?" somebody asked. "Oh," the swami laughed. "It was not a lady. It was organisation."

Swami Vivekananda saw clearly that organisation and religion are largely incompatible. At the same time, without some organisation, religion can't get anything done. This is why the Ramakrishna Mission, the organisation Swami Vivekananda started, runs schools, hospitals, libraries and social service groups.

So the message for religions seems to be: "Organise, but with a light touch." Any time the organisation seems to be compromising religious principles, do a reboot.

Fact-checking

Re: "Not the point," (PostBag, June 21).

In its news columns, Bangkok Post demands accuracy from its reporters. "Check the facts" is the first thing drummed into a cadet journalist, for it is the very foundation of responsible journalism.

Even allowing for publication of differences of opinion, the same strict values are not applied to letters published in PostBag.

So when Eric Baht published a demonstrably incorrect statement about marijuana, I wrote a letter correcting him.

That is "the point" Eric.

If you spent more time checking your facts, you would not have to waste everyone's time defending yourself later.

Ghislaine's defence

Re: "Maxwell's 'sad upbringing' led to Epstein ties," (Sunday Forum, June 19).

I find it amusing, as well as disgusting, how the lawyers defending Ghislaine Maxwell put a tremendous spin on the whole affair and paint her not only as a victim but also as an angel. Butter would not melt in her mouth.

By blaming her crooked father, "Capt'n Bob" Maxwell, for being cruel to her is far-fetched. Especially the ridiculous story about him beating her with a hammer. She lived all her life in opulence and luxury and turned out to be as crooked and devious as her old man.

Robert Maxwell was a man who stole millions from his company and employees at Mirror group, and gave it to Israel's Mossad. When he wanted the stolen cash back (over 400 million pounds!) to pay off his debts, Mossad allegedly threw him off his yacht and drowned him.

And the money supposedly disappeared into Mossad coffers. By the way, the yacht bore the same name as his daughter, Ghislaine.

Thus I fully agree with US assistant attorney Alison Moe that "Maxwell was a sophisticated predator who knew exactly what she was doing".

Follow the money

Re: "Sellout culture is a problem for pro golf tour," (BP, June 19).

America has only one culture, the "Economic" culture. Top basketball and baseball players are on sale every season. Call it an auction, trade or sellout? Some people say it is what good athletes deserve. Celebrity everywhere is all about success and money.

Paul, no country should have a monopoly on sports, whether it is golf or baseball. Although no other country participates in the annual baseball games in the USA, the winners are called "World Champions". The same is the saga of American football.

If tennis can be played in various places, such as Wimbledon, US, Australia and Ronald Garros in France, why not golf? The truth is that sports in America have always been about money. The role models are enshrined in their glorious achievements along with the money they make. Nothing else counts. So let the golf players follow the money, just like any other sport.

Job creation

Re: "Mining is key to energy shift but it's still unloved," (Opinion, May 18).

Jobs, jobs, jobs. I have said this before, and I do not understand why the Thai government does not take some action on something that would create thousands of jobs.

The subject is a new Tesla factory in South Asia. Tesla has talked to India, and now Indonesia has proposed Tesla locate a factory there. Wrong, wrong, wrong!

India has numerous social, ethnic, religious, governmental and neighbouring-country problems. Indonesia has some similar problems. Thailand has a great non-colonial history as well as a good multi-ethnic and religious society that is well educated. Yes, there are government problems now and then, but Thailand "rolls on" well.

And, Thailand has a really good history of automotive production. Just ask the Japanese, European and American manufacturers located there. Thailand usually produces about 2 million vehicles a year, and many motorcycles. And, that is just one industry in a country with many successful business categories. Don't lose a great opportunity. Mr Prime Minister get a few auto-knowledgeable folk together and travel to the USA and see Elon Musk the CEO of Tesla. Sell the proposal to him. Thousands of new jobs would be wonderful for Thailand, a great country.

Wrong on inflation

Re: "How far should interest rate hikes go?" (Opinion, June 16).

Chartchai Parasuk is wrong in his assertions over inflation. In his column, he claims that "economic theory provides an exact calculation: a 1% reduction in the money supply would reduce inflation by 1%". That's not a theory I've ever heard of. Not even Milton Freidman (who was proved wrong in his assertion that inflation is "always" a monetary phenomenon) ever offered such a prescription.

If it were simply a matter of removing 738 billion baht (3% of M3) from circulation, as Mr Chartchai claims, the Bank of Thailand could simply issue 738 billion in bonds. Central banks don't normally act in that manner because money supply is just one of many factors influencing inflation.

The policy interest rate (the BoT's One-day Repurchase Rate) is a blunt tool used to coax market interest rates up or down in order to encourage or discourage investment and consumer spending, so accelerating or decelerating GDP growth and influencing pressures on price levels.

In the US, GDP growth has been rapid (5.68% in 2021) and unemployment is extremely low, exacerbating the effects of high energy prices and persisting supply-chain bottlenecks, so headline inflation has fed into core inflation.

In contrast, Thai GDP growth was only 1.6% in 2021 (2.2% YoY for March) and core inflation was reported at just 2.28% YoY for May -- barely above the BoT's 2% target (headline Thai inflation was 7.1% in May, but that was driven by spikes in energy and food prices). The BoT bases its monetary policy on the core number, not headline inflation.

There's a strong argument for the BoT raising its policy interest rate incrementally in order to limit the scope for headline inflation to feed into the core number, but Mr Chartchai's prescription of raising the One-day Repurchase Rate from 0.50% currently to 5.2% by December would trigger a deep (and unnecessary) recession.

Mr Chartchai, furthermore, chattered about bond yields and the effect of a weaker baht on the economy. A weaker baht would boost exports, which would expand GDP, not reduce it (Thai GDP is calculated in baht, not dollars or yen). And the fact that Thai bond yields are currently lower than US bond yields shows that the market is prepared to accept lower yields for Thai paper.

There's no need for the BoT to raise its policy interest rate in order to push up bond yields in line with those of the US -- if the market determines that Thai bond yields are too low, it will bid down bond prices (which would raise yields).

Why anti-cannabis?

With regard to the issue of Thailand decriminalising the use of cannabis, one cannot but be aware of the continual stream of articles and letters denouncing this move. Every article and letter on the subject posted in your recent publications have all been extremely negative and strongly in opposition to the government's liberalisation of this plant -- one that in fact is indigenous to Thailand.

I am now an almost 76-year-old monk and so cannot use the substance. However, I am a former "Youth of the 1960s" when almost everyone I knew indulged heavily, smoking the stuff on a daily basis.

Not once did I ever encounter, nor ever hear about, anyone who suffered any adverse effects from their use of "The Weed". We were in fact known as the "Love and Peace" generation.

No one I knew during those years ever drank alcohol. We were strongly opposed to alcohol precisely because -- instead of opening and expanding the mind -- its consumption led to violent and abusive behaviour.

Yet this is a country where there is an average of 58 daily road deaths, a large proportion of them caused by alcohol intoxication. And not to mention the aggressive and violent behaviour, eg, wife-beating, football hooliganism etc. that is associated with alcohol consumption. So why, then, the need to daily publish anti-cannabis material?

The use of the plant is legal in many counties and in many US states. Yet no such negative publicity is to be found in their daily newspapers.

Wake up Bangkok Post and do some unbiased research!