Nope. That's just a shitty English translation. The Jews at the time were familiar with different types of ropes/threads. It is most likely that Jesus referred to the type of rope used in fishing which is much larger than a thread.

http://www.biblicalhebrew.com/nt/camelneedle.htm

According to that link that is just one of several possible interpretations. In fact the author seems to prefer the "camel" translation, as there are contemporary examples of similar hyperbole.

I agree. If "nor an elephant going through the eye of a needle" was a expression used previously, it's not so strange that they have a local version with a camel.