1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
This will force many independent retail traders to pay some gigantic fees to join scam prop shop.
Since the fee paid now belongs to the prop shop, the trader will be trading the "prop shop capital" (our capital) and get a 50-50 split. The trader can be fired any time after paying the fees. No refunds!
First the 25k rule, now the transaction tax to force retail traders out.
terrible tax, not a good idea at all
Links to current G20 issues from Europe
http://www.earthtimes.org/articles/show/286098,kouchner-wants-tax-on-financial-transactions.html
French Foreign Minister Bernard Kouchner said in an interview published Thursday in the daily Les Echos. "We are talking about only 5 cents (.073 dollars) on every 1,000 euros," Kouchner said. "Applied on a global scale,this contribution could raise 20 to 30 billion euros."
http://www.google.com/hostednews/afp/article/ALeqM5inS7ur4iyq2DHwnhqeUQNs75tNiA
German Chancellor Angela Merkel sought but failed to secure agreement from her fellow European Union leaders for such a proposal to be taken to a summit of the Group of 20 countries in Pittsburgh next week.
British Prime Minister Gordon Brown and others fear such a scheme would be rendered useless by some countries not taking it up and therefore becoming de facto tax havens.
However, Luxembourg Prime Minister and the head of the eurozone finance minister's Eurogroup, said the issue will be revisited at a later date.
It's getting ugly right in Europe. Sarko is for it, Merkel too, Gordon Brown is for it at a world level.
They don't want to talk about it at G20 " not to provoke Washington"( Carla's dwarf ).
There 's even a moron that thinks Europe is strong enough to implement it in EU only.
However, they still don't know what they are talking about if it's on international transactions ( currency ) or trading.
They don't want to talk about it at G20 " not to provoke Washington"( Carla's dwarf ).
There 's even a moron that thinks Europe is strong enough to implement it in EU only.
However, they still don't know what they are talking about if it's on international transactions ( currency ) or trading.
It's easy. All they have to do is try it. Wouldn't last a month.
Every try to buy or sell in a market without speculators? Go on, try it.
There just ain't anybody there.
Even more cool when the bid and ask both disappear completely. I've seen it! What's the price?
Talk about a crash... Imagine what would happen if everybody who holds stock discovers there is nobody there...
Every try to buy or sell in a market without speculators? Go on, try it.
There just ain't anybody there.
Even more cool when the bid and ask both disappear completely. I've seen it! What's the price?
Talk about a crash... Imagine what would happen if everybody who holds stock discovers there is nobody there...
Didn't I read earlier in this thread that Merkel was against this tax or I am mistaken? Now she is for it?
-Guru
"She said that other governments had shown âbroad supportâ for Germany's idea of introducing a tax on financial transactions (ie, Tobin tax). She said that, because of the limited time available for discussion at the meeting, the Swedish presidency had been asked to hold further discussions on whether the issue should be raised by the EU in Pittsburgh."
http://www.europeanvoice.com/article/2009/09/reinfeldt-bankers-bonus-bubble-has-burst/65922.aspx
http://www.europeanvoice.com/article/2009/09/reinfeldt-bankers-bonus-bubble-has-burst/65922.aspx