The military commander, seemingly the man closest to the King, has has taken over power and installed martial law while Prime Minister Thaksin Shinawatra was overseas.
When Shinawatra sold his family's stake in the telecoms firm Shin Corp, it angered many Thais because it passed control of an important national asset to Singaporean investors.
However British expats and travellers seem relatively unconcerned at events, such as the expat His Words, who says: "Life appears to be normal, if quiet. It would seem the coup is a pretty desperate last attempt to get rid of Thaksin, nothing more," while one mother living there said: "Lets just hope internet and phones don't get cut off. Hopefully Thailand can get a democratic government back in place and there won't be any violence or bloodshed."
Backpackers are keenly logging in to news and updates and in typical laidback fashion are relatively unfazed by events and confident that it will all be over in 48 hours.
Condemnation has been universal from world leaders aghast at the overthrow of a democratically elected government, and the Bangkok Pundit, which gives blow-by-blow updates of the situation on the streets of the Thai capital, wonders if the PM has actually done something illegal or is it all just a smokescreen for an opposition that can't get elected with unpopular policies?
"The use of military force, instead of a free and fair election, to change government can hardly be condoned in a democratic society like ours, let alone the fact that the coup took place just months before the country was due to hold a general election."
Indeed, Korealiberator agrees that it is step backwards for the country: "This may be a crushing blow for representative politics in Thailand. The right way to remove distasteful politicians is by elections, not tanks."
The tacit support or even active encouragement of Thailand's revered king also seems to have raised as many heckles as it has questions for Winds of Change who says: "I consider that the army is doing nothing more than carrying out by arms what the people have been unable to do by themselves."
But apart from the democracy lovers and those who want the rule of law upheld, the opinion of people on the street is one of support. There is no agitation from the people, things seem to be peaceful but Zazou wonders:
"While my associate regarded the coup as a good thing, and getting quite animated when talking about Thaksin's corrupt practices and other behavior, it remains to be seen if the coup continues to be relatively bloodless; the army really has no intention to govern as it says and interim elections can be held."
Kelly, a US student in Bangkok, gives regular updates on the situation tells of deserted streets, empty schools and an eerie calm. She says: "The intersection at Chitlom, which I usually have to take my life in my hands to cross, was so deserted I stood in the middle of the road for a few seconds just to savour the experience."
Many bloggers, like those on Right Truth say there is no love lost between Thai population and the prime minister.
"Thaksin has made it almost impossible for the Thai people to get him out of office. I consider that the army is doing nothing more than carrying out by arms what the people have been unable to do by themselves."