The value of money

[Crissa]

Thai's debts are in other currencies, and therefore the Thai government now owes them 'more' money.

-Crissa

[Username17]

Then, when the debtors can't pay the new larger number of Bahts, they are forced to turn over actual property - against its pre-agreed fixed value of Bahts. And then the foreign investors own all your actual stuff.

The amount of "money" they have at the end is smaller, but the amount of "stuff" they have is larger. Essentially they just forced the country to sell a bunch of its goods and capital for very small amounts of money. And the people of Thailand didn't even get that money.

-Username17

[Surgo]

Ah, I see. I really needn't have had to think outside the box at all -- that should have been obvious. Thanks.