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First, the police arrested a third person for allegedly spreading rumors about HM the King's health. As the Bangkok Post reports:
BP: One question has always been, if they could arrest some of these people for translating foreign language news reports, why won't they go after the foreign news agencies? Well, it seems the authorities are considering this, as Post Today reports. A DSI source is quoted as stating that DSI [equivalent of FBI] is considering taking action against a foreign news agency for spreading rumors. The news article was inauspicious and created panic in the stock market Finally, the the minister in charge of IT threatens ISPs. Prachatai translates this Thai Rath interview with the minister:
BP: This is insane. It becomes more difficult to interpret the arrest of the two persons on Sunday for posting messages to Prachatai and SameSky (instead of targeting other sites which also carried the Bloomberg report) as anything other than a means to shut down the two sites. Korn's comments the other day on the arrests are even more relevant:
BP: Is this anything other than a threat? How many more will be arrested? How many more websites will be threatened with shutdowns? How many media organizations will protest? btw, anyone notice that the papers no longer refer to it as "rumours over HM the King's health"? It is now "inauspicious news". Afraid to say what it is?
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Don't forget that the rumors cost the country some real money and that is the real reason for the crackdown, not the LM offenses. The threat to ISP is ridiculous. The minister probably meant the hosting company, dotarai.com, but you never know - they select top grade imbeciles for the ICP ministry, brought to you by cabinet quota system.
I am afraid DSI will not take any action against Bloomberg. The news agency did not spread the rumor with the intent to bring down SET or with reckless disregard in doing so. It reported that the rumor caused or might have caused SET stocks to slide. Not only that, Bloomberg article hit the wires after the fact; SET stocks had already fallen. As a country we don't want to appear irrational or xenophobic. One final point, there are no stock markets in the world which are insulated from rumors, whispers, half truths or "headline risks". Traders, speculators and investors all operate in the world of incomplete information. If you have complete information, you are an insider. The law will set limits on the manner you can trade.
All of the arresting is a fake. What we have is an increasingly repressive and authoritarian government just wanting to close down what is left of the critical mainstream media. I say mainstream because they aren't yet going after the red media. They will do this after the potentially critical mainstream voices are silenced. This is the slippery road to Thai-style fascism.
The stock market is based on speculation, assumptions and guessing. Those that are big players in the market always share information, that's a stock market, that's what is involved. For fear of being on the next hit list, the Royal Household Bureau released what appeared to be conflicting status reports and the Government put 18,000 troops on the street. What were people to make of that? It's only natural that people were talking about HM's health and condition. Reg is correct in his assumption that this government is trying to stifle comment by not only the media but by the population at large.
According to The Nation, Ekkachai Anchanabutr's own investigation pointed to some "Jor", a fund manager, who's made 5 billion from the rumor. Even if Ekkachai is exaggerating and only, say, 1 billion was made in two or three days - not bad a profit. The content of the rumor itself is irrelevant, they just picked up on whatever was most effective at the time.
Can anyone explain me why the rumors took place because the main media in Thailand is not credible?
"websites which have had a record of being ‘subversive to national security’" Therefore the onus is now on the MICT to prove that Prachatai *are* being subversive to national security. Considering the translation was posted after the markets shut, that's not going to be too easy, is it? |
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