I was right in the thick of it in Bangkok on 2nd July, 1997, the day the Thai Baht didn't just dip, it absolutely cratered
The government finally cut the cord on the U.S. dollar peg, the currency went into a freefall, and suddenly the Baht was worth about 20% less than it had been at breakfast. This was the "Tom Yum Kung" crisis kicking off in real-time
The streets were pure chaos. This was the era of traveler’s cheques and physical cash; very few of us were walking around with credit cards back then. When the exchange booths slammed their shutters shut, panic set in for most travelers. But while everyone else was losing their heads, I had a bit of a brain wave
If the currency is crashing, why am I not shopping?
I headed straight for the Armani boutique. Thanks to the devaluation, high-end shirts were sitting there for the equivalent of about £30 ($39). I was practically rubbing my hands together, thinking I’d hit the jackpot. I figured I’d "fill my boots" and overhaul my entire wardrobe on the cheap
Then came the reality check. I pulled on the first shirt to try it for size, only to realize that "Asian Slim Fit" and my frame weren't exactly a match made in heaven. After all that excitement, I managed to find exactly one shirt that actually fitted me
A Legacy in Silk
I eventually walked away with that single shirt, plus a few ties and accessories. My tradition was always to pass my designer gear down to my Dad once I’d had my fun with it
It never failed to bring a massive smile to my face seeing him later on, whether he was heading home from a Parish Council meeting or, eventually, just relaxing in his nursing home, looking sharp as ever in a genuine Armani shirt I’d scavenged during a global financial meltdown
It just goes to show that even when the markets are crashing, you can still find a silver lining, even if it only comes in one size
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