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And as logic_man already pointed out above, Saverin already paid for the U.S. benefits and amenities he received while a citizen here, therefore he owes no further taxes to the U.S. system since he will no longer be making use of its amenities and benefits, and therefore he cannot be considered...

Excellent point. Exactly. And this is why every developed nation in the world except the United States and North Korea doesn't tax their citizens who live abroad, for precisely the reason you described.

It still doesn't mean he is bound to stay in the United States or remain a U.S. citizen simply by virtue of what the legal system afforded him in the past. If that were the case, then we should have a system where when someone wins a legal financial judgment, a part of it goes directly to the...

If you don't like it, take it up with the IRS. What he's doing is perfectly legal. And if you're going to talk about what's "good for America", you really need to start by pointing your righteous indignation at the actual corruption, law breaking and malfeasance by Wall Street that is raping...

Good for him. It is funny to see some in this thread attacking him for attempting to protect his money from excessive taxation, when all the Wall Street masters of the universe and banksters live by a completely different set of rules and rape and pillage the taxpayer over and over and over...

Forgive me if I'm being obtuse, but where does the 4-8% figure come from? Even if you pay margin interest on a position, at IB's site for instance it shows you'd pay about 2-2.5% at most.

The one question it leaves is that it says it's $1M if doing a T-bill xfer into the account. It would seem to suggest to me that one could purchase T-bills using the cash already in their account, then use those as collateral even if below the $1M level. Def, any insight into this?

That's a great tip, thanks for that Bob. :cool:

Well that's reassuring :eek:. Again, each person has to do their own due diligence and determine the best course of action for themselves, but if the company my money's with has seen their stock lose 92% of its value over the past year, while other similar brokers have not suffered similar...

Perhaps, but PNSN's cratering stock price is not conjecture. And while one cannot believe everything they hear on the internet, they equally cannot believe everything (or anything) they hear as public corporate statements anymore either. Fact is, these days most often the canaries in the...

And if you were seeing issues, would you reveal that publicly on this internet forum? Not accusing you of dissembling, but in this modern age where we saw the exact same type of denials and happy talk coming out of firms like Lehman, Bear, MFG just before they imploded, you'll understand if I...

Penson now trading at 0.48. There is talk that it's taking a long time for customers to get cash withdrawals out, just like MFG before they went under. Don't know if they are indeed the next to go under, but I sure as hell wouldn't want to have an account with them right now. :eek:

No, you're totally missing the point. It's not the reality of who has wealth and who doesn't. Obviously anyone who invests or trades does so to increase their wealth. Duh. It's the connotation that is attached to those phrases now that is the problem. The whole "1%" and "99%" euphemisms...

http://www.youtube.com/watch?feature=player_profilepage&v=ChKIecFPL8A Good lord, how tone deaf can you guys be? As an IB client, this commercial gives me the heeby jeebies.

There's one other major reason one might prefer to trade the futures instead of cash market, and that is interest rates. Depending on what currency pair you wish to trade, you may end up having to pay interest to hold a position in the cash market, whereas no matter what pair you trade in the...

For some, perhaps. But when we live in a world of rampant off-balance sheet transactions and shadow banking operations, a boilerplate denial by any financial firm these days only provides comfort to those desperately hoping for such. Bottom line, in this toxic economic and financial...

I never said they would, simply pointing this fact out for anyone who thought that IB-AN's response was specifically responding to the questions in this thread. It was not, and most of the questions still asked in this thread remain unanswered. So in light of this fact, IB-AN's boilerplate...

Zero Hedge has weighed in. And apparently IB-AN's response is a boilerplate response that has gone out to several recipients.. http://www.zerohedge.com/news/denials-begin-interactive-brokers-first-claim-it-has-not-engaged-commingling-rehypothecation

As an IB client, I appreciate def and IB-AN's responses. But perhaps the better question one or both of you can answer (to keep things really simple) is: What is the difference between re-hypothecation, which as you have admitted IB does engage in, and what MF Global did that ended up losing...

Technically your account is "safe" as it would be covered by SIPC insurance for equities, although as others here have pointed out you would probably be safer trading with one of the "too big to fail" entities like JPM, GS, etc., because sad as it is to say they will be saved from failure by the...