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Family Money: Offshore Bonds - simple solutions
By Leslie
Wright,
Managing director of Westminster Portfolio Services (Thailand) Ltd.
Many investors believe that they have to have umpteen
different investment vehicles from umpteen different providers, or a flock
of brokers, in order to achieve the strategically diversified portfolio
they are seeking.
Not so. There is a much simpler, and arguably more
cost-effective and tax-efficient way to achieve the same result. Wrap it
in an umbrella instrument called a personal portfolio bond, or ‘PPB’
for short.
Offshore personal portfolio bonds have been around a
long time. Over the years, they have overcome various attacks by the
Inland Revenue authorities, and have survived consolidation and an
increasing sophistication in the more mature financial services
environments. Yet the basic structure has not changed much. Indeed, they
are arguably increasing in popularity among individuals with fairly
substantial amounts of capital to invest - no matter whether these
individuals have the time & expertise to manage their portfolios or
not.
Features & benefits
The principal attractions of PPB’s are flexibility,
administrative convenience and tax efficiency.
Structured as unit-linked insurance contracts, they
allow the investment capital to be linked to a wide range of assets such
as cash, stocks & shares and/or collective investment vehicles.
Due to punitive taxation, bonds allowing stocks and
shares to be selected are not suitable for UK residents; but even these
individuals can still derive substantial benefits from bonds that are
limited to the selection of collective investments and cash.
Bespoke investment
structure
The main benefit of personal bonds is that, due to the
wide range of asset links offered within the life wrapper, the investor
can create a portfolio of investments that is specifically tailored to his
own individual needs, risk profile and investment objectives, within a
single investment plan. A mix of assets can be selected and reviewed on a
regular basis and can be rearranged in accordance with the investor’s
changing circumstances without the need to change investment vehicle.
For UK investors limited to collectives, the structure
allows them to operate a “multi-manager “ investment strategy. For
example, the investor can mix funds offered by different managers
according to where their proven track records rest.
These benefits are particularly relevant to wealthier
investors who will expect individually tailored solutions and product
flexibility to suit changing circumstances. Conventional “fixed”
product structures will tend not to meet the needs of these individuals.
In addition, the investor can appoint a professional
investment adviser to select investments on his behalf, thus delegating
investment decisions to someone with the skill and expertise to achieve
the investor’s objectives.
Centralised ownership of
assets
The natural diversity of an international investor’s
portfolio will mean a greater spread of assets held with many different
investment houses, across various jurisdictions. Holding investments via
an offshore bond centralises the investments in one place. This is
important during the investor’s lifetime, as he/she only has to deal
with one investment house who handle all the paperwork. Furthermore, on
death the executors only have to deal with one company, thus simplifying
and speeding up the probate process.
Centralising the ownership of assets in this way can
also be of great benefit in terms of estate planning. It is well known
that if an individual holds stocks or funds that are registered or
domiciled in a jurisdiction other than their country of residence, local
probate is necessary in the event of their death. What many people fail to
realise, however, is that local estate taxes may also be due on these
assets, and there may often be no estate tax treaty between the
jurisdiction and the country of residence to protect against double
taxation. This situation will apply to anyone who invests in the UK or US
stock markets, for example. There will not be many international investors
who do not have some exposure to these markets in their portfolios.
Investing in these (or any other) markets through an
offshore bond will give an investor the peace of mind that on his death
his executors need only worry about probate in the offshore jurisdiction,
and estate taxes in the investor’s country of residence or domicile. An
offshore bond in this situation acts very much in the same way as
investing in international markets through a company or trust, but at a
much lower cost, and without sacrificing any control over accessibility to
capital.
Tax planning
Another concern for wealthier individuals is that they
face potentially large tax liabilities that they are keen to mitigate
legally in a straightforward way. An offshore bond is the ideal instrument
for this purpose. In many jurisdictions (e.g., UK and most EU countries)
tax liabilities do not arise until money is taken from the bond, allowing
capital to grow in the longer term without the value being depleted by
annual taxation. In other jurisdictions (e.g., Hong Kong) the benefits may
be totally tax-free.
Trust Planning
Where assets are held directly by trustees, most tax
breaks enjoyed in the past have been gradually eroded by various layers of
anti-avoidance legislation. Many jurisdictions will look through the trust
and tax the settlor or beneficiaries directly. Holding a bond as a trust
asset will therefore give back to trustees the tax deferral benefits they
previously enjoyed under more benign regimes, and in a very cost-effective
manner: an offshore bond is a trustee-friendly asset as it relieves many
of the accounting and administrative burdens of the trustees, as all
administration is carried out by the life company.
So in summary, international investors are attracted to
being able to hold a wide range of investments within a single wrapper,
thereby achieving a high degree of diversification without sacrificing
administrative simplicity. Being able to gain access to major
international markets at considerably lower cost than going direct is
another attraction; and that no local probate or estate duty is due on
death.
Once perceived as expensive, another noticeable trend
in recent years is the steady decrease in the costs of offshore bond
wrappers. All life companies nowadays offer them, and it is largely a
matter of comparing investment thresholds, bells & whistles, and
charging structures - especially the latter - to determine which is the
best one for you. Your financial adviser will be able to help you in this
regard.
Snap Shot: France wins the World’s First
by Harry Flashman
(Harry Flashman is on holidays, so we have reprinted an
updated version of his very first column printed in the Pattaya Mail
several years ago.)
Now, for all of you who think that somehow a soccer
story got onto the wrong page, this is no football yarn at all. Did you
know that the frogs’ leg eaters were the first to bring photography to
the world? And no, it wasn’t Francois Kodak either (but more about that
later)!
 Photography
is not a recent invention, in fact the first known “photographic”
image was recorded in 1826 by a French gentleman called Nicephore Niepce.
He managed to capture the view from his window, producing the image on a
bitumen covered pewter plate. The exposure time for this epic making
picture (or should that be “epoch” making?) was a record breaking 8
hours! What poor old Nicephore took 8 hours to produce, you can do in
1/125th of a second. (My how time flies when you’re having fun!)
Nic then teamed up with another of his French friends,
Louis Jacques Mande Daguerre (1759 - 1851) and the pair of them worked on
trying to make “photography” a little bit easier. Nicephore expired in
1833, turning up at the pearly gates with his pewter plates under his arm.
But Daguerre continued in his quest of the Holy Grail, or to photograph
it, if nothing else.
By 1839 he had managed to produce images on highly
polished silvered copper plates and released the details in August of that
year, but only after obtaining a lifetime pension for himself from the
French government. Daguerre was no dunce!
Now while these images were much better than Nic’s
originals, they still took forever and a day in the camera. Exposure times
were far too long to make portraiture a reality. “Just hold zat pose for
six hours, Madame!”
However, while the French were exposing themselves and
their plates to the sun, an Englishman by the name of William Henry Fox
Talbot (1800 - 1877) was experimenting exposing silver impregnated paper
and produced a “negative”. By then exposing his sensitized paper to
the negative he had made previously, he managed to produce positive
copies. Now, more than one image could be made from one photographic
session.
Fox Talbot did nothing about his new process until he
heard the kerfuffle from France about Louis Daguerre’s “invention”.
Quickly he rushed into print in 1839 with details of his process. This was
the start of modern photography as we know it.
Exposure times were still an hour or so, but in 1840
the simple photographic lens was improved by Josef Petzval allowing 16
times more light into the camera and exposure times dropped to around 4 to
5 minutes. Portraiture had arrived! The impact of Petzval on photography
is often forgotten, but his improvement to the optical lens had actually
much more of an effect than the slow improvements in the sensitivity of
the film plates of the day.
For the next four decades photographers spent their
time refining the “negative” process; however, it took an American to
bring photography within the reach of the masses. His name was George
Eastman (1854 - 1932) and he was an inventor and an industrialist.
George had the vision, and the financial clout. By 1888
he introduced the small box camera with a 100 exposure roll film inside.
And what did he call it? After many months of deliberation the marketing
gurus told George Eastman that a good catchy name should have K’s in it.
And so “Kodak” was born. We all owe George a debt of gratitude. If it
were not for George Eastman, we would probably still be hiding under black
cloths while putting sensitized glass plates into the back of our rosewood
cameras. Thanks George!
Modern Medicine: “High” pertension
by Dr Iain Corness, Consultant
The other day I did not feel well - yes, even doctors
can feel a bit off from time to time! In fact, I had not felt all that
grand for a few weeks, something I just put down to work, some personal
stress and a couple of nights where I had not had a good sleep. There was
nothing I could really pin-point. A vague headache, but not enough to take
anything for, some tiredness, but nothing that I shouldn’t have expected
at my age after a couple of poor night’s sleep.
After another night of waking early and being unable to
get back to sleep I decided I may as well go to work and catch up on some
correspondence. After a couple of hours and feeling “woolly” headed I
decided to forget work for the rest of the day and go home. I had even
pulled up in my drive when my body reminded me that doctors should not
diagnose themselves, and perhaps it was time I saw one myself.
I duly presented myself at Out Patients, feeling
slightly silly, but also slightly dizzy by this time. The pretty young
nurse took my BP (blood pressure), and then took it again. I was then led
straight to the doctor who repeated the measurement and told me the good
news that I was not walking anywhere, but was going in a wheelchair
directly to the ward! Doctor here was suffering from high blood pressure!
Now patients often say to me, “I’ve got a bit of
blood pressure,” to which I reply, “I certainly hope so, because if
you haven’t got any, then you are dead.” You need pressure to push the
blood around your body taking oxygen to the tissues and important organs
(you do have more than one important organ, sir).
The blood circulation system of your heart, arteries
and veins is under a constant form of pressure, or “tension” and if
this tension gets too high, then it is called hyper-tension. If too low it
is called hypo-tension.
To make it only slightly complicated, there is also a
resting pressure, which we call the diastolic pressure (we like big words
in medicine) and then there is the peak (higher) pressure, when the heart
gives a big squeeze, called the systolic pressure. This is why when the
doctor or nurse takes your blood pressure the result is expressed as two
figures, for example 120/80.
High blood pressure is a dangerous condition and can
lead to strokes, where an artery “blows off” with the high pressure.
If this happens in the brain you can die or even be left with a form of
paralysis. Not fun!
The problem with hypertension is that it is not a
condition that you will necessarily know about. When you are on the way to
a heart attack, you get some warning signs, like chest pains. Hypertension
is silent - well, that’s what the good books will tell you, but that is
not quite true. I honestly believe that if you listen to your body (as I
eventually did to mine), then you will get a warning to go and get a
check-up. But even easier - take this article as the warning and go and
get your check up done today. Find out just what your BP really is!
Women’s World: The magic of the clove
by Lesley Warner
There has been some interest shown by my readers in
clove oil, so to answer some of the questions I did a little more
research, and this is what I have come up with.
A clove tree (Eugenia caryophyllata Thun.) is a small
evergreen with a pyramidal trunk that soon divides into large branches
covered with a smooth greyish bark; large oblong leaves (always a bright
green colour), which stand in pairs on short stalks; the flowers grow in
bunches at the end of the branch. At the start of the rainy season long
greenish buds appear; from the extremity of these the corolla comes which
is of a lovely rosy peach colour. As the corolla fades the calyx turns
yellow, then red. The calyces, with the embryo seed, are at this stage
beaten from the tree and when dried are the cloves that we know. The
flowers have a strong refreshing odour. If the seeds are allowed to
mature, most of the pungency is lost. Each berry has only one seed. The
trees bear fruit usually about eight or nine years after planting. The
whole tree is highly aromatic.
The finest cloves come from Molucca and Pemba, where
the trees grow better than anywhere else but they are also imported from
the East and West Indies, Mauritius and Brazil.
The main component of Clove Oil is Eugenol (70 / 90%).
Clove Oil has an anti-bacterial, antiseptic and analgesic effect. It is
used in sore throat pills, gargles, stomach tonics, tea, antirheumatic
ointments, dentistry in toothpastes and mouthwashes, in perfume, in food
as an aromatic for fruits, marinades, bread, cakes and pastries.
We can thank the ancient Chinese for discovering how
useful cloves were for relieving toothache. Commoners chewed cloves to
sweeten their breath before talking to the emperor. This is when they
probably discovered that it is a mild anesthetic for toothache.
The spice was introduced into Europe from the fourth to
the sixth century.
Clove oil is an essential oil so can be found at most
aromatherapy suppliers but if you feel like it you could make your own.
Clove oil can be extracted from the cloves if distilled with water, salt
must be added to raise the temperature of ebullition and the same cloves
must be distilled over and over again to get their full essence. When
boiled the oil floats on top of the water and can be scooped off.
The following are some other uses:
1. Add whole cloves to mulled wine with cinnamon sticks
and coriander seeds.
2. To combat the chills of winter, it does get chilly
here on occasions; warm a tot of Irish whisky with two whole cloves, a
dash of lemon juice and a pinch of sugar.
3. An onion studded with one or two cloves gives steak
& kidney pie; beef casseroles and bread sauce a warm, full flavour.
4. Stud baked or roasted ham with whole cloves and
spread over a mixture of honey, sugar and mustard before finishing in a
hot oven.
5. Gammon with Orange Sauce
Ingredients:
Juice and zest of 1 large orange
Juice of 1 lemon
300 ml (1/2 pint) extra orange juice
12 cloves whole
25 g (1 oz) demerara sugar
4 gammon steaks
1 tbs oil
Coarse ground black pepper to taste
15 g (1/2 oz) cornflour, mixed with 2tbs water
25 g (1 oz) butter
Salt
Preparation:
Place the orange zest, juice and lemon juice in a
measuring jug. Make up to 450 ml (3/4 pint) with the extra orange juice.
Add the cloves and sugar and bring to the boil. Remove from the heat,
cover and set aside for about 30 minutes.
Brush the gammon steaks with oil, sprinkle over the
pepper and grill for about 5 minutes on each side.
Remove the cloves from the orange juice. Add the corn
flour mixture and re-heat, stirring, until the sauce boils and thickens.
Stir in the butter and pour over the gammon to serve.
Serves 4
Preparation and cooking time: 35 min.
Clove oil is used to anaesthetize fish in the sea. In
fish farming, this is essential for performing basic procedures such as
weighing, tagging, experimental work and for transport.
In Indonesia half of the clove production is mixed with
tobacco to produce Kretek cigarettes.
Heart to Heart with Hillary
Dear Hillary,
Street corner motorcycle taxis are everywhere and the
ones on my street seem to be very busy. I would like to use them for
shortish trips but two problems hold me back. First, are they safe to use?
Second, how much should I pay. I do not want to be ripped off or thought
of as a stupid farang either. Do you take taxi motorcycles, Hillary?
Fearful Freda
Dear Fearful Freda,
Yes, Hillary catches motorcycle taxis - but only for
short distances and when either the start of my journey or the destination
is well off the baht bus routes. Are they safe? Anything on two wheels is
not as stable as something on four - you never see a baht bus falling over
parked at the side of the road, do you? Do not take a taxi motorcycle
which is old and battered and whose rider has just downed a bottle of Lipo.
But if you have a regular crew on the street corner who are not covered in
multiple bandages, then you have a reasonably “safe” bunch. Remember
that you can always tell the rider to “cha-cha” (and that’s not a
samba either) which means to go slower. If he doesn’t then tap him on
the shoulder and get off then and there. If you are known as a resident
rather than a tourist, then it is unlikely you will get ripped off (too
much). Always ask the fare first and if you think it is too much, then be
prepared to barter. Short trips are around 20 baht, long trips to say the
far side of Jomtien from Pattaya would be around 100 baht.
Dear Hillary,
I need somebody to help me, in a hurry, so I hope you
can answer this quickly. I am on holidays and I am in love with a girl who
has just come to work in the bar next to my hotel in Soi 8. She speaks
good English and is really wonderful. She is just so friendly and has a
lot of girlfriends at the bar. She comes from Youdorn (I am not sure how
to spell it) and looks forward to when I come to see her at the bar and
then we can go out together. She says she only started working there the
day I walked into the bar and misses me too much when I am not there. I
want to take her to the UK to meet my parents. How difficult is this? Some
friends have said forget it as it is too hard, but I want to try. How do I
do this, Hillary.
Lee
Dear Lee,
You do not say how old you are in the letter, but
Hillary gets the feeling you are very young, my baby Petal. “New”
girls just arrived from Udon Thani do not speak good English, in fact they
have problems with Thai, since they speak the Laos language up there. She
has friends with the other girls there? In less than a week? For you to
take this beautiful lady to meet your Mum and Dad it is not just a matter
of buying side by side seats on the big silver bird. There is a small
matter called a visa to the UK. You do not get these by mail order. They
can take months and the UK authorities are not as love-struck as you. They
are probably looking for more commitment than a week’s worth of liaisons
from the Soi 8 bar. Forget it Lee. Write to her for a year, do not send
money, no matter how sick the family buffalo has become and if she is
still around when you come back in 12 months then you have found the Soi 8
paragon of virtue. But by then you will have grown up too. By the way,
Lee, since I put your sweaty letter on top of the pile you can thank me
with the usual offering of chocolates and champagne, left at the Pattaya
Mail offices, clearly addressed to “Hillary”.
Dear Hillary,
I must admit that I am an early bird, getting up with
the sun every day - it really is such a beautiful time of day. But I
cannot go shopping as the shops in Pattaya do not seem to open till after
11 in the morning, even in the shopping centres. Why is this, Hillary?
Surely they are missing a lot of business?
Shopping Sally
Dear Shopping Sally,
I am sorry, but Hillary is not a morning person, in
fact the biggest problem with Hillary’s day is that they bring on
“morning” far too early. In answer to your question - there is a
fairly obvious reason that the shops do not open till 11. Have you seen
what time they close? Around 11 p.m., Petal. You see, there are many more
people walking around at night in Pattaya. You probably have not seen this
since you probably go to bed at sundown, while most people in Pattaya go
to bed when the neon lights go off (or now 2 a.m. Purachai time). The
shopkeepers are prepared to miss out on your business and the other person
who gets up that time (I am guessing here, you may be the only one) in
return for the thousands who are still bright eyes and bushy tailed at
night. Go on, Sally - be brave, stay up till 11 one night and see what fun
you can have!
Antiques, are they genuine? The first fakes
by Apichart Panyadee
Faking porcelain, as opposed to merely copying or
working in a particular style, probably began in the late 18th century,
when Paris enamellers purchased large quantities of Sevres porcelain,
painted them in the factory style and added conventional interlace
“L”, since the bodies are perfectly ‘right’ and the enamels and
gilding can be very good. Some of the Sevres blanks were bought by Thomas
Martin Randall of London and Madeley, who also decorated them in the
factory style. A few good examples of Randall’s work have been in the
past proved good enough to be displayed in a major museum as factory
decorated Sevres.
 A
late 14th century Ming porcelain jar. A feature of these pieces is that
they were knife prepared and little was done to smooth the rough edges.
The advent of the Industrial Revolution and the
consequent redistribution of wealth among the expanding middle classes
created a demand for both antique and fashionable china such as Sevres.
Since supplies of old porcelain and pottery were limited, factories such
as Merkelbach and Schiffer in Germany, Samson in France and Cantagalli and
Doccia in Italy catered to the demand by producing very deceptive copies.
Some of these pieces appear not to have been remarked, or if they were
marked, the marks have been since removed in order to deceive. With
continuing demand for rare items in the late 19th and early 20th
centuries, forgers had a field day. In porcelain and pottery,
connoisseurship was in its infancy, as can be seen by publications of the
time.
 Tang
dynasty tomb figures c. 618-906.
In the field of English pottery, the 1920s were
arguably the most active years for the forger. One of the most celebrated
cases is that of the Astbury-Whieldon figures and groups, which began to
appear towards the end of the decade. Such figures were then, as now, very
expensive collector’s pieces and would naturally merit the attention of
the forger. The delicately colored glaze was not easy to imitate, but in
fact forgers did find a way to reproduce it.
 A
Doucai stem cup from the reign of the Emperor Chenghua c. 1465-87.
In a saleroom of June 4, 1931, three Astbury figures
and a pew group marked “Wedgwood” were entered as lots 66 to 69,
“the property of a collector”. All sold well and no one was suspicious
until the following year. Ross Taggart wrote, “When those were first
known, they were in no way suspected by the leading auctioneers, reputable
dealers, and discriminating collectors.” It was Kiddle of Sotheby who
first began to doubt them in the light of another pew group that was shown
him and was undoubtedly wrong.
 On
the left is an authentic late 16th century Isnik tankard, decorated in a
typically bold palette under a brilliant transparent glaze. The one on the
right is a copy which both Cantagalli in Florence and Samson in Paris
produced many copies of this type of ware.
When this was brought to the attention of Messrs
Rackham, Honey and Elliot, the “Wedgwood” pew group was still passed
as genuine. It was only with the appearance of the “Wood” piece that
the true character of both became apparent.
 The
fake Wei figure presented to A. J. B. Kiddle in 1923 which stands in the
“Black Museum”.
It is also around this time that the first pieces of
Tang tomb pottery arrived in Europe, and within less than five years the
forgers were busy not only replicating this period but Sui and Wei pottery
as well. Without the benefit of thermo luminescence testing, attribution,
especially the unglazed figures must have been extremely difficult. It was
Kiddle again who managed to ferret out the duds from the genuine. For his
pains he was presented in 1923 with a specially commissioned fake of a Wei
pottery equestrian figure which is currently stabled in Sotheby’s
celebrated “Black Museum”.
Social Commentary by Khai Khem
Asian Sauce for Geese and Ganders
The guys go to Bangkok or Pattaya, or maybe Olongopo in
the Philippines. The ladies go to Bali. What? Yes, that’s right! If
there’s a reader out there who didn’t know this, it looks like I’m
about to spill the beans. And no, this isn’t going to be a cooking
column.
A female traveling alone in Bali will probably be
approached by a charming local gentleman at least a few times a day. If
she goes to Kuta Beach, picks a spot and stretches out in the sun, someone
will propose marriage before the day is out. The young “cowboys” of
Kuta start out by offering free samples of conversation, then romance at
bargain prices, and not long after they are selling themselves. Bali is
the land of the bronzed gigolos.
Age seems to be irrelevant; if anything, girls in the
18 to 25 age bracket are neglected in favor of older women who may have
more resources, or be more emotionally vulnerable.
It’s not what people think of first when you talk
about sex in Asia, but Bali’s Kuta Cowboys are a big part of the scene.
If you are interested in romance in the exotic Far East
Bangkok, Manila, Bombay, Bali and Phuket have reputations for being akin
to Disneyland. These reputations are not wholly undeserved. What are you
looking for? Whatever it is you can probably find it - for a price.
Bangkok is widely perceived as the City of Sin, the
world headquarters of ill-lit massage parlors. But why? Play for pay
exists in every city in the world from Los Angels to Ladakh. There are
more total sex-workers in India or America than in Thailand, more per
capita in Manila or Taipei than in Bangkok. The world’s largest brothels
are in Bombay and Bangladesh. The most legal are in Amsterdam. Sex for
money is cheaper in Phnom Penh and Vladivostok. In Mexico and most Central
and South American countries prostitution is as prolific as in Asia.
So why is Thailand saddled with such ignominious
distinction? Perhaps it is the lack of hypocrisy and secrecy attached to
sex workers here. Thais have a more philosophical approach toward a woman
who supports herself and her family through prostitution than if she were
begging on the streets or involved in anti-social and criminal activities.
Is sexual tourism legitimate? The question is almost
irrelevant. It exists. It has always existed. And the sex industry in Asia
will continue to exist for the foreseeable future. Prostitution can be
compared to illegal drugs. When the demand dries up, or it is no longer a
commercially viable industry, the profession (like blacksmiths) will fall
by the wayside.
Like mountaineering or skydiving, sexual tourism has
its dangers. For example, a study some years ago showed a direct
relationship between the price you pay for a girls and the likelihood that
she carried the HIV infection. The survey implied that the less you pay,
the more likely the girl is to have it. At the time of the study, 50% of
the least expensive girls in Chiang Mai had the virus.
This figure means that if you visit two of them, the
chances are that you’ve had relations with someone carrying the virus.
Frankly if you do enough research you will find studies with completely
conflicting conclusions. A report came out 2 years ago in the USA from a
well known Think Tank that said people of a certain income and educational
level do not get AIDS. What rubbish. This implies that the virus is
rendered benign by cell phones and microwave ovens.
Manila competes with Bangkok for the title of sex
capital of the world. The Metro area is covered with places like
Gilley’s Roadhouse in Angeles City, The Tahiti Club, and the various
locations offered by The Champagne Club. Even in some place as sterile and
politically correct as Singapore, legal sex for sale is not unknown.
Contrary to popular belief, the commercial sex scene is
alive and well in Singapore. For a country known for its clean and green
image and nothing much else, this may come as quite a surprise to a
visitor. The government has taken a very pragmatic view of the world’s
oldest profession. Prostitution in Singapore is restricted to designated
red-light areas. The figures are sketchy as to the population of sex
workers in Singapore, but one researcher thinks there are probably about
6,000.
Why is prostitution such a thriving industry in
Thailand? Poverty, lack of education and job opportunity are the leading
reasons why young Thai girls end up as prostitutes. The young up-country
girls from poor farming families are the most likely candidates for this
kind of life. The situation is very much the same for the women in the
Philippines and Latin American countries. What it ultimately comes down to
is that these women are just another “cash crop”. The gigolos of Bali
are male victims of the same lack of opportunities.
The mail order bride business is another anomaly which
seems to confuse and dismay Westerners. While the P. I. is the heart of
this business, other countries are beginning to muscle on the trade in
female flesh. Paying a few dollars for an address and writing directly to
a girl who speaks some of your native tongue probably isn’t the worst
thing you can do if you’re a single guy with nothing else to do with
your time.
When your money goes for services provided by the
company that gave you the address, the waters get muddy. How do you know
that the girl ever got the money you sent her? Perhaps she gets half and
the other half goes to the company, or maybe she gets a miserable pittance
and the company keeps the rest. Whether it’s Bali’s bronzed young men
or the transvestites of Pattaya or the go-go bars of Manila, sex and the
sex industry in Asian tourism are not going away in the near future. It
has its attractions, its prices, and its costs.
Roll over Rover: Let’s talk leashes
by C. Schloemer
The teaching lead
Continuing on from last week about crating your dog,
what’s the alternative? Based on my suggestions an owner shouldn’t
crate a dog for long periods of time. On the other hand, if the owner is
away from home and doesn’t want to give the dog the run of the house,
the teaching lead may be the solution. This lead might look like any other
leash, but once you understand the concepts and theories behind it, it
becomes a magical and manageable device. It’s leather, which adds extra
leverage so the owner’s strength is increased. An owner will feel
immediately in more control. But it’s the holes and clips that make the
teaching lead truly unique. I call it Passive Control Training.
I have a friend who has a six month old Siberian Husky
named Cody. Unfortunately the dog is not housebroken and loves to chew
wood, inside and out. An avid digger, Cody peed every time a voice was
raised or anyone bent over to greet her. She growled at her food dish and
in the height of play, jumped and nipped. Okay, so no dog is perfect, but
some training was certainly in order. Crating was not the answer for Cody
since she needs a lot of exercise and movement. Besides, how could we
teach her anything by confining her?
The teaching lead was perfect for the Husky. Leading
her around the house and outside gave us control to let her know what was
off-limits and which behavior was not acceptable. Whenever she sniffed the
carpets, the owner pulled her back and said “No”. Being a good dog at
heart and highly intelligent, she learned quickly. Within a few weeks the
owner stopped using the leash. The dog had learned the concepts of “Good
girl” and “No” and as common sense tells us, most dogs strive for
the positive. The animal was more secure and trained quickly with
‘leash-time’ which was about 2 hours every day. When circumstances
arose which were new, the leash was slipped on again and more training was
introduced.
The teaching lead has three applications, leading,
anchoring and stationing. Each is a must as the owner will be using them
interchangeably. There will be days when the owner leads more than
stations, and other days when the equation shifts. As long as the dog is
close by to his owner, everyone will be happy.
It is usually fashioned out of a six-foot strap of
leather and the owner can attach a double-headed clip purchased from a
hardware store. Attach one side of the clip to the end of the leash and
use the other end to secure the leash around your waist.
This lead takes the place of a crate when the owner is
home. It teaches basic obedience skills and the owner gains control when
walking outside. This tool is magic for housebreaking a dog, and to
discourage nipping. It keeps the dog calm around strangers and it will be
useful for advance obedience training.
“Wearing” your dog around the house and garden may
sound complicated, but you will actually need to lead your dog full-time
in the house only if he is too rambunctious to be trusted off the leash.
Some owners may need to lead their dog only when strangers come round, and
eventually, with consistent training, this method can be halted.
Leading
Leading is a technique of walking your dog that does
not involve your hands. It is great for neighborhood strolls and jogs and
household control. It is the process of using your leash control both
inside and outside the house which will passively teach your dog who is in
charge. No matter where you go, your dog must follow. If he gets into
trouble, the owner should be there for immediate correction. Leading is
done without hands, so instead of holding the leash it is worn around the
owner’s waist like a belt. What are the benefits? Passively the owner
will convey leadership. And a delinquent dog cannot get into much trouble
while he’s being led. Dogs previously banned from certain areas of a
house or garden can be introduced in a more controlled fashion.
Anchoring is an approach to teaching your dog to lie
calmly at your side while distracted. Stationing teaches your dog to lie
in a designated area on command. Although initially the owner will need to
reinforce control with the teaching lead, eventually the dog will go to
his areas automatically.
The Message In The Moon: Sun in Leo/Moon in Scorpio
by Anchalee Kaewmanee
The Crowd Pleaser
This is a pretty intense Leo. It can be risky making
fun of natives born into this sign. They view themselves and the world
around them seriously. This combination shows purpose and is bold and
aggressive. Leo-Scorpios have a master plan for living and they follow it
carefully. Since they enjoy the battlefield of life, unless there is real
competition and plenty of it, they will feel somehow cheated. This sign is
psychologically geared for battle and intrigue.
Although these individuals project a fun loving image,
they are actually highly motivated and ambitious. Secrecy is a trademark
with this combo because almost all natives of this sign feel that if they
reveal too much of themselves, they will give their enemies too much
advantage. Of course they do not have as many enemies as they imagine, so
therein lies the rub.
Sensual and materialistic, they want all the power,
comfort and control they can get out of life. Once they set their sights
on a job, a lover, or a trinket, nothing stands in their way. Stubborn and
somewhat fearless, the pursuit of their aims is done with quiet
perseverance and their magnetism, confidence and ruthless determination
help to sustain them. They don’t always show their hand when they want
something but are nonetheless tenacious at getting what they want.
Unlike most Leos, the Sun in Scorpio brings acute
perception and shrewdness and these natives are wise to the ways of the
world. Management, business and finance draw this sign, as does anything
that smacks of competition. But at some time or other, the Leo-Scorpio
will also feel strong creative urges. The Scorpio Moon can uplift and
sustain the creative drive of the Leo Sun, but since this combination may
be so preoccupied with instant gratification (such as the next promotion
or sexual conquest), some individuals born into this combo may not follow
through on those artistic impulses. For those who can redirect that
extreme sensual force and practice moderation, some of these natives could
be the next Picasso. For most Leo-Scorpios, however, those creative
talents are unlikely to find expression because they have so many other
things going on in their lives.
Both Sun and Moon signs of this combo are fixed signs.
This produces great willpower and endurance and evokes a strong sense of
purpose. It also makes these people stubborn and inflexible, especially
when it comes to their own convictions. Independent to a fault, it is
difficult for them to accept ideas or suggestions from those around them.
This rigidity does not allow for a high threshold of
tolerance or stress. Often these natives are unable to hold in their
feelings of frustration, hostility, and pride for very long. When their
world gets too tense or demanding, rather than relax and forget about
their problems, they will most likely explode, taking out their
frustration on their mate or co-workers. A wise Leo-Scorpio will learn to
be more adaptable and cultivate tolerance and respect for those close to
him.
There are two sides to this nature. This combination
can be compassionate, protective, warm and giving. Or, if things get
rough, this Sun-Moon sign can be tyrannical, pedantic and self-righteous.
The best way for the Leo-Scorpio to stay cool is to learn to recognize
signs of early stress before the breaking point. Finding ways to channel
off some of that excess tension in positive activities such as sports or
hobbies can be an excellent safety-valve and will also be beneficial to
overall health.
This combination is usually loyal and steadfast toward
their friends once people have won their trust. Of course the Leo-Scorpio
likes to see new faces occasionally, but usually their inner circle of
loved ones is tight and leaves little room for strangers.
In romance, these natives must find an understanding
lover who will put up with their over-protectiveness and tantrums. A
marriage or business partner will have to conform to certain standards and
make allowances for jealousy, possessiveness and a tendency toward total
control. A native of this sign can smother a lover without even realizing
it. They need to give their partners more room to breathe of any romantic
relationship is to last.
Coins of the Realm: Thai banknotes 100 years
by Jan Olav Aamlid
President - House of the Golden Coin (http://www.thaicoins.com)
On 24th of June in year 121 of
the Rattankosion Era (1902), King Chulalongkorn (Rama V) conferred the
Siamese Bank Act R.E. 121. The King authorized the Royal Treasury to issue
a promissory note, called a banknote or Thanabatr, to be printed by
the Thai Bank Notes Department for the first time in the Thai history.
 The
Thai Bank Notes Department did not have the facilities to print banknotes
so Thomas de la Rue & Co. Ltd. in England printed the first lot of
Thai banknotes in five denominations, 5-, 10-, 20-, 100- and 1,000 baht.
Until 1969 Thomas de la Rue & Co. Ltd. printed most Thai banknotes;
only during and just after the Second World War did others print the Thai
notes, others like the Army – Survey Department. Some were Japanese
printed and in 1945 the Army – Survey Department and Naval –
Hydrological Department (one side each) printed the notes. The Bank of
Thailand also printed some of the notes in 1945.
In 1946 – 47 the American company Tudor Press Inc.
did the printing job because Thomas de la Rue was bombed during the war.
In 1948 Thomas de la Rue was again printing Thai banknotes, until 24th
of June 1969 when His Majesty the King of Thailand opened The Note
Printing Works of the Bank of Thailand.
This was on the date 67 years after King Chulalonkorn
conferred the Siamese Bank Notes Act. The 500-baht note printed in 1975
represents the first Thai banknote completed with entirely Thai people.
In December this year the Bank of Thailand will
commemorate two important anniversaries. The Bank of Thailand was
established the 10th of December 1942, and will mark
the 60th anniversary and it is 100 years since the
first Thai notes were printed. This will be marked with an exhibit in the
Bank of Thailand.
The first Thai banknotes were only printed on one side,
and used throughout the reign of King Chulalongkorn and in the early years
of King Vajiravudh (Rama VI). The notes had the printing: “The
Government of Siam promise to pay the bearer on demand in Siam
Currency”. In 1925 notes printed on both sides were introduced and in
1928 the text was replaced by “This Banknote is Legal Tender in
accordance with the law”.
It is to assume that most people believed, and probably
still do, that coins made of copper, silver and gold represent real value,
but money made out of paper does not have a value in itself. In the first
years Thailand had the same problem as many other countries did after
introducing banknotes, coins were kept and notes were used for paying
taxes.
The last gold coins intended for normal circulation in
Thailand were struck in 1894 and the last silver coins intended for normal
circulation were struck in 1931. Commemorative coins have been struck, but
sold for much more than the metal value and often for more than face
value.
Today most of us belive in banknotes even though
sometimes the notes are terminated from being legal tender. Most often a
fair warning is given, like when 12 members of the European Union
introduced the Euro as their currency. This was the biggest changeover
ever in the world.
Today the first Thai banknotes introduced in 1902 are
not legal tender, but if you do have some of these notes, just be happy.
Collectors are willing to pay large amounts for these rare prints. The
1,000 baht from 1902 in nice condition according to the Complete Edition
of Thai Banknotes Catalogue are valued at 2,000,00 bath. If the condition
is not so nice the note is valued at “only” 800,000 baht, but still
nice for a 1,000 baht note.
The 10 baht note is the “cheapest” of the 1902
series according to the Thai Banknotes catalogue. In nice condition it is
valued at 220,000 baht, and in circulated condition the price is 100,000
baht.
The first Thai notes, which are referred to as “Thai
Uniface Banknotes” or “First Series” have in the upper center the
Coat of Arms in a white frame. The denomination of the note was shown in
Thai, English, Chinese and Malay. In English it says the denomination is
valued in ticals, but in Thai the denomination is referred to in baht. The
reason for this might be that at those times the tical was better known
internationally. On later Thai notes the text was only written in Thai,
and referred to as baht.
Animal Crackers: Anyone for a Halti lead?
by Mirin E. McCarthy
I am a converted believer in always walking dogs (even
miniatures) on a lead in public places, even in free and easy locations
like Thailand and the Sunshine coast of Australia. I learnt the error of
my ways by both tragic and embarrassing, hysterical and potentially
dangerous ways.
First the sad story. My maid used to walk my rescued
Thai dog Sam; little did I know she would let it off the lead. Sam was a
mangy starving scrap that grew into a boisterous, loved, nine-month-old
furry ball of energy with a great coat. He looked like a cross between a
Thai dog and an Alsatian and most probably was. Although he was inoculated
he picked up parvovirus and was dead in three days. It is a deadly disease
caught by dogs licking or eating other dogs’ faeces. Parvovirus is
prevalent in Thailand.
In Australia people are very casual with their dogs
even on the beaches and although signs read, “No dogs” most people
ignore them and run their dogs regardless.
I okayed a weekend houseguest to bring his two guard
dogs along as their owner had assured me they were trained, but neglected
to mention they were not socialised. I had forgotten about the casual
nature of the locals also.
Now I have seen police dogs in action and am aware that
having attack trained dogs is similar to having a loaded rifle, you simply
must be responsible. I thought I could handle it. Wrong.
Early one morning on the way to buy the papers we were
walking both dogs on leads. I had the male Rottweiler Zac and my friend
the female Doberman cross Zoe. Both had halti leads around their mouths
too, which stop the dog from opening their mouth very wide. One of the
locals was walking towards us with a friendly golden Labrador trotting
happily along, no lead in sight, something she had probably done down the
same street for years. The lab was curious and was coming straight up to
us, and my friend said, “Sit the dog and shorten the lead.”
Well I shortened it but not realising he meant, “grab
it by the collar so it can’t move its head,” I left two foot of lead.
That was all it took, in an instant we were in the middle of a vicious
fight with two dogs on top of the lab intent on the kill. Before we could
drag them off I tripped and broke my toe but still didn’t let go of the
lead and the lab was bitten but not seriously. This was the start of the
weekend, worse was to come.
Later I had the female Zoe on the lead at the markets,
but was not aware that because she was timid and nervous she was
potentially more aggressive. Neither did I know she had never been out in
crowds before. I duly held her head every time we approached another dog,
everything was fine until she saw her first pram. Well she wanted to play
and made a leap for it. The young parents were understandably not at all
impressed and we spent ten minutes apologising to them.
The next afternoon on the beach Zac almost ate a
seagull and a poodle. All in all it was a fraught weekend and a salutary
lesson always to keep your dog on the lead for its own protection against
“trained” attack dogs and their dozy owners.
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