Morning Brief – More bang for Your Baht

More bang for Your Baht

Some Thai boxers have taken this adage literally and attempted to smuggle USD 30 million of crystal meth also known as ice from Bangkok to Australia hidden inside Thai made boxing punch bags. While crystal meth is in demand in Australia, (11 tons annual consumption if you are interested) Thai made boxing punch bags are not, and this aroused the suspicions of the Thai customs who sliced into 15 different punch bags and discovered 193KG. Baht slightly stronger overnight but not on this news with USD at 33.53 THB.

Jilin Province, China

Childless budding entrepreneurs and or those seeking loans for other purposes are eligible for loans of Yuan 200.000 or USD31,400 if they have a child in Jilin Province that saw its population decline by 12.7% in 2020. Those who are even more productive and manage 2 children will be exempt or at least be eligible to pay reduced VAT. Maternity leave has been increased from 98 to 180 days and paternity leave from 15 to 25 days. Population growth is at its lowest level across China since the 1950’s and not only Jilin but Liaoning and Heilonjiang provinces -all in the north eastern region-are taking this seriously and encouraging couples to have families. USD/CNY unchanged on this impending productivity at 6.37.

Nutella

Far be it for SGM-FX to advocate hoarding or stockpiling supplies of Nutella, but stand by for President Erdogan’s take on economic management to be evident not only in the pages of your newspaper or better still in the SGM-FX Daily Brief, but due to the absence of your jar of Nutella on your breakfast table. Turkey accounts for 70% of the supply of hazelnuts but Ferrero the owner of Nutella buys 33% of the Turkish crop. The cost of seeds, pesticides and fertiliser has more than tripled this year which has meant that many Turkish hazelnut farmers have thrown in the towel and gone to work in textile factories. Stand by for a world hazelnut shortage with hazelnuts per ton prices at the end of September already up 50% to USD 6,160.

How Deep is Your Love?

The Bee Gees released their album Saturday Night Fever this day in 1977 which captured the zeitgeist at that time perfectly and exploded John Travolta and Olivia Newton-John onto the world stage. This the first song on the album went platinum and went straight to Number 1 where it stayed for 17 weeks. In case you need reminding of just how good it is, here is How Deep is Your Love:

I know your eyes in the morning sun
I feel you touch me in the pouring rain
And the moment that you wander far from me
I wanna feel you in my arms again
And you come to me on a summer breeze
Keep me warm in your love, then you softly leave
And it’s me you need to show

How deep is your love?
How deep is your love?
How deep is your love?
I really mean to learn
‘Cause we’re living in a world of fools
Breaking us down when they all should let us be
We belong to you and me

I believe in you
You know the door to my very soul
You’re the light in my deepest, darkest hour
You’re my savior when I fall
And you may not think I care for you
When you know down inside that I really do
And it’s me you need to show

How deep is your love?
How deep is your love?
How deep is your love?
I really mean to learn
‘Cause we’re living in a world of fools
Breaking us down when they all should let us be
We belong to you and me

Enjoy a great holiday break and wishing you a Very Happy Christmas!

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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