1/4% Tax on all stock trades pushed in NY Times today

Merkel's spokespersons' clumsy verbal attempts at G20 membership manipulation will backfire. There will be an embarrassed backflip.

Europe is NOT the centre of the universe. The March 2008 report below focuses on negative transactions tax experiences within the S.E. Asia sleeping giant community. They will never do Europe's (or anyone else's) bidding. They are in the business of financial sector expansion.

This is why Canada's politically astute Harper has been quietly lobbying across that region.


http://www.fmi-inc.net/news/pdfs/TaxesHarmCommFutures.pdf
 
Quote from Robert A. Green:

The German push for a FTT is conditional on eurozone adoption, not just in Germany. France will most likely say no FTT and delay bank taxes of any kind. That should hold off a FTT.

The UK already opted out of some Eurozone bailouts, so they are very unlikely to embrace the German rash-agenda, like banning naked short selling without getting EU-consensus first.

With meltdown 2.0 in the works, and some French banks probably in trouble - rumors of a huge Soc Gen derivatives loss last week and weaker capital ratios in EU banks versus US banks - it's doubtful the French will agree to tar and feather their banks with an industry-killing FTT. For sure, not if the UK, US, Canada and Switzerland won't pass a FTT too. The French will be more willing to deficit spend without pay go with new taxes._

The Germans are now locked into - and won't budge - from their pan-euro fiscal and monetary agenda. Others have talked and taken the lead and the outcome is unacceptable to the biggest economic force in the EU. It's going to be German-led austerity rather than Anglo-American Keynsian- deficit spending of printed money. The Germans won't dare chance worthless euros like 1930s marks.

As I have predicted for 6 months, the Germans want a euro-federal tax to pay for euro spending, including financial emergences. The French talk alot about the EU, but in the end care about their own industry and budget first. They don't want to pool a bank levy into a eurofund, again as the Germans prefer. In most cases, the French have said they prefer the UK approach to bank taxes.

A meltdown may forstall a FTT but it can also bring one on. High speed traders are inviting a FTT-grinding of their wheels. Public anger in meltdown 2.0 will be much greater and increase the odds of FTT. If France needs a bailout and German support they will most likely give in to the German agenda and say yes to a eurozone FTT.

Regime change won't dampen anger towards banks and BP oil. I am getting a little concerned again. Hopefully the euro bailout works, France holds in the euro distress and Germany calms down.

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Why would France say no? Sarko was one of the big three.
 
In case this wasn't posted before:


Art Robinson Wins the Republican Congressional Nomination in Oregon District 4

Republican voters of Oregon District 4 have chosen Dr. Art Robinson to represent them in the November 2010 Congressional race against Democrat Peter DeFazio. With 70% of votes counted as of 8:54 pm, Art currently has 80% of the total.
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Here's the link to Robinson's campaign: www.artrobinsonforcongress.com. I suggest donating if you want to punish DeFazio for his repeated attempts to pass FTT legislation.
 
Quote from andy9775:

Why would France say no? Sarko was one of the big three.
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Christine Lagarde recently said ( after the IMF report ) that perhaps transactions weren't the best thing to tax, she prefers a profit or liabilities tax.

However, she can't be trusted IMO.
 
http://www.nasdaq.com/aspx/stock-ma...s-groups-urge-g-20-leaders-to-oppose-bank-tax
"But the groups say new taxes would curb the liquidity needed to fuel economic growth, stagnate expansion and subsequently, government revenues. The alternative, says Quaadman, is cultivating broad-based economic growth and job creation, which would raise revenues that governments could then siphon to pay for future crises."

Heres the letter.
http://www.uschamber.com/assets/international/100603_International_Financial_Transaction_Tax.pdf
 
It can be just like that Oil cleanup fund the US gov set up 20 years ago taking 8 cents per barrel of oil or whatever it was to set aside for future oil disasters..... hmmm where did that money go.
 
Quote from andy9775:

Why would France say no? Sarko was one of the big three.
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Seems like France promotes bank taxes but backs down when it's time to act.

French banks are powerful in France and on the political stage. France is not a manufacturing star like Germany and they can't afford to penalize and hurt their banks with competitive disadvantage - if the US, UK and others don't pass it too.

Foreign minister kouchner promoted a tiny in his words .005 FTT in Montreal today with the G20 talks. He wants the tax money for the worlds poor.

Agree, it's hard to forecast French actions and they will promote a FTT but I am guessing they may say no unless they bend to German pressure which they did today on the EU-wide naked short selling ban.
 
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