Thailand last experienced the death of a King in 1946 with the death of Ananda Mahidol, who was proclaimed post-humorously as Rama VIII. What the ramifications will be following the death of King Adulyadej is anyone’s guess.
In 2008 when Her Royal Highness Galyani Vadhana Krom Luang Naradhiwas Rajanagarindra, elder sister to King Adulyadej died, 100 days of mourning followed.
Television stations broadcast archival footage of her life and work, while ordinary Thais wore black and Thai flags were flown at half mast for 15 days. Entertainment venues were ‘asked’ to refrain from operating for 15 days.
In the first six days after her death more than 118,000 people thronged the Grand Palace to sign the condolences book. In every province throughout Thailand ordinary Thai’s queued to do the same.
The funeral rites, conducted over six days in traditional Thailand Theravada Buddhism tradition, saw a ‘royal crematorium’ that took seven months to construct at a cost of Bt300 million (about $US8.8 million*) built at Sanam Luang, the Royal Lawn in front of the Grand Palace.
However, the death of King Adulyadej will be different. In 2009 when he was hospitalised the Stock Exchange of Thailand (SET) fell 8.2 per cent before closing down 5.3 per cent, when rumours exaggerating the seriousness of his condition were circulated by SMS/ text messages.
Prior to the Thailand referendum two months ago credible rumours circulated that the King was gravely ill. While no out of the ordinary announcements have been made apart from last Sunday, the SET has fallen 7.4 per cent over the last six weeks up to the close of trade on October 11 – plummeting 6.9 per cent, when the exchange resumed its afternoon session today, before closing down 2.50 per cent on the day’s trade. On Monday Xinhua English news linked an almost 3 per cent drop in opening trade to King Adulyadej’s ailing health.
With some 85 per cent of the population under 90 years of age, King Adulyadej is the only monarch the vast majority of Thailand’s population have ever known.
Speculation is rife as to how long any mourning period in the wake of King Adulyadej’s death will be, with anything from 100 days to one year being bandied about. Entertainment venues are likely to be closed for a minimum of 15 days, with some speculating one month, or even 99 days, due to its auspicious meaning. It is likely that all trade on the SET will be suspended in the wake of any serious announcement, while the Thai baht is expected to depreciate considerably and rapidly.
This is a developing story. Updates may be made without notice.
Read more: End Of Days: Thailand Prepares For King Bhumibol Adulyadej's Death http://aecnewstoday.com/2016/end-of-days-thailand-prepares-for-kings-death/#ixzz4MzS1MvZS
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