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

Barnier vs the Brits - FT.com
http://www.ft.com/intl/cms/s/0/5471afde-096a-11e1-a20c-00144feabdc0.html#axzz1d9qRCdgL

Conservatives in the UK view FTT as one key part of a bigger financial regulation Trojan-Horse attack by Franco-German-led euro centrists against the UK. 'They want the UK-based business interests to pay FTT taxes to support bailouts in the eurozone.' No way.

There are centuries of rivalry between the UK and France and the UK would be foolish to give in to this attack. It reminds me of the famous UK and French central bankers at great odds during the 1930s depression era.

Finally, we see how FTT makes sense. It makes no sense for raising overall revenue. But, it makes sense as a power play to take over the financial services industries and their home cities. How dare they try?

UK conservatives should continue considering taking back powers from Brussels and even leaving the EU. It's not going to work to have north and poor-south euro zones, and financial-center EU "outs."

Can't the US and Canada welcome the UK - their long-lost cousin- into NAFTA? London and New York are two peas in a banking pod.
 
Quote from tortoise:


Honestly, if everybidy thinks this is a good idea I'm happy to proceed, but I do need to feel like folks are in this with me, linking to the site and "+1"-ing it, etc. Otherwise, my time is much better spent focusing on making as much money off the markets as I can before they close it all down -- and they will, folks. If we don't seize the cultural initiative on this, sooner or later, it's gonna be over.
More...

Hey tortoise! Live up to your name. Did you not hear the fable of the tortoise and the hare? :cool:
http://en.wikipedia.org/wiki/The_Tortoise_and_the_Hare

You've done great so far. Take a nap (or do some trading) and don't worry about finishing everything this week. It'll take time to boost the Google Search rank but we're not going anywhere.

Remember, ALL TRADERS please open the site http://www.financialtransactiontaxes.com each day and keep it open in your browser for the duration of the day....
 
Traders Advocacy, the organization focused on fighting against FTT, signed its first full sponsor, FXCM a leading forex brokerage firm. A leading securities broker for pros may sign up next. Several trading schools want to be media-sponsors too.

We are adding more FTT content soon and expanding our advocacy efforts. We are editing the site more too. I asked Tom Davis about using some of his content posted on this thread and he said okay.

Please support this anti-FTT site too. It's going to be professional and respected. Thanks.

Kindly do the same things for our site that you plan to support the other anti-FTT site with. Perhaps, our sites can exchange links too. I'll contact Tortoise about it.

http://www.tradersadvocacy.org/Sponsors.html

Anyone want to meet at the Vegas Traders Expo next week to discuss it all?
 
Quote from benwm:

Hey tortoise! Live up to your name. Did you not hear the fable of the tortoise and the hare? :cool:
http://en.wikipedia.org/wiki/The_Tortoise_and_the_Hare

You've done great so far. Take a nap (or do some trading) and don't worry about finishing everything this week. It'll take time to boost the Google Search rank but we're not going anywhere.

Remember, ALL TRADERS please open the site http://www.financialtransactiontaxes.com each day and keep it open in your browser for the duration of the day....
More...

Lol. You're right. I'm being a flippin' grouch. Onward!
 
tortoise,

We need to take a long-term view of the FTT issue. I assure you our enemies are.

Even though the probability of an FTT in the US is low right now, this issue is not going away. The real value of your website may not be realized until a year, two years or more down the road. The unions have already said they're going to support pro-FTT candidates in the 2012 election. And it won't end there.

As a result of the well-organized efforts of the pro-FTT forces around the world, the FTT issue in the US is going to come roaring back to threaten our livelihoods again and again. We're going to see this issue every election cycle and perhaps even in-between.

Traders and the entire financial industry were caught off guard and unprepared for the strength of the pro-FTT forces this time. Next time around we need to have everything in place from day one. Your website is one of the weapons in our arsenal that will be used to fight the battle.

Thanks for your important work.

Best regards,

Tom


Quote from tortoise:

All -- I've just replaced the news page at http://www.financialtransactiontaxes.com with something considerably less psychotic then what was previously there.

Here's the new link:

http://financialtransactiontaxes.com/Financial-Transaction-Tax-News.html


On a related note, I must say I'm a bit concerned about the fact that the site. which was on the third page of Google search, now appears to have dropped off the map entirely. Meanwhile, a search for "Financial Transaction Tax" turns up scores and scores of pro-F.T.T. sites. Clearly, the "pro" forces have Google wired.

Honestly, if everybidy thinks this is a good idea I'm happy to proceed, but I do need to feel like folks are in this with me, linking to the site and "+1"-ing it, etc. Otherwise, my time is much better spent focusing on making as much money off the markets as I can before they close it all down -- and they will, folks. If we don't seize the cultural initiative on this, sooner or later, it's gonna be over.

Anyway, I'll keep working on this through the end of the week, then see if it starts to register on search before continuing further.


Thanks
More...
 
Quote from benwm:

Hey tortoise! Live up to your name. Did you not hear the fable of the tortoise and the hare? :cool:
http://en.wikipedia.org/wiki/The_Tortoise_and_the_Hare

You've done great so far. Take a nap (or do some trading) and don't worry about finishing everything this week. It'll take time to boost the Google Search rank but we're not going anywhere.

Remember, ALL TRADERS please open the site http://www.financialtransactiontaxes.com each day and keep it open in your browser for the duration of the day....
More...


Recovering from a nasty bout of flu, and adding more pages tonight. Resource links, backgrounders on the history of the tax, Sweden, UK, and a nice little investigative rumble about who's really behind this thing ... and why.

I still wonder if something is weird with Google, though. Type "Financial Transaction Taxes" into their search and -- aside from news stuff -- you just get an avalanche of pro-FTT crap. I can't find Greene's excellent material through Google, but I can find all sorts of obscure blogs blowing smoke for F.T.T.

It's weird. I mean, I'm not a conspiracy nut but ...
 
Quote from tomdavis:

tortoise,

We need to take a long-term view of the FTT issue. I assure you our enemies are.

Even though the probability of an FTT in the US is low right now, this issue is not going away. The real value of your website may not be realized until a year, two years or more down the road. The unions have already said they're going to support pro-FTT candidates in the 2012 election. And it won't end there.

As a result of the well-organized efforts of the pro-FTT forces around the world, the FTT issue in the US is going to come roaring back to threaten our livelihoods again and again. We're going to see this issue every election cycle and perhaps even in-between.

Traders and the entire financial industry were caught off guard and unprepared for the strength of the pro-FTT forces this time. Next time around we need to have everything in place from day one. Your website is one of the weapons in our arsenal that will be used to fight the battle.

Thanks for your important work.

Best regards,

Tom
More...

Thanks. You are 100% right about this. Sending you an email excerpt from an exchange I just had with someone, as I'd rather not post it on a public message board ...
 
I don't remember Luxembourg (Eurozone) and Romania (EU member) mentioned before as being negative toward FTT.
---------------------------



"Luxembourg is the second largest investment fund centre in the world after the United States, the premier captive reinsurance market in the European Union and the premier private banking centre in the Eurozone. The financial sector is the largest contributor to the Luxembourg economy."
http://www.lff.lu/key-facts/luxembourg-financial-centre/
---

Romania: "The City of Bucharest is Bucharest's major financial district, and one of the regional's leading financial centres. The city is where the Bucharest Stock Exchange, as well as many other exchanges, are based. Service industries, particularly banking, insurance, and business services, account by far for the largest proportion of GDP and employ around 55% of the working population. Many other international banks are beginning to operate bases in Romania, as the sector expands. In 2007 there were 52 banks."
http://en.wikipedia.org/wiki/Services_in_Romania#Banking_and_finance

Romania's Potential as a Regional Financial Center

In a recent interview with Ziarul Financiar, Mr. Iacobescu stated “There is a huge amount of money in the world that needs to be managed. Therefore beside the two financial world centres, New York and London, there will be three more soon: Shanghai, Dubai and probably Singapore. In response to the business development in Central and Eastern Europe, a regional money management centre will be needed and Romania is in the best position for this”.
http://www.p-i-e.com/investment/romania-financial-centre-iacobescu.html
---


"...countries as diverse as the Netherlands and Italy as well as Luxembourg, Sweden and the Czech Republic said a financial transaction tax, levied on dealings in shares, bonds and derivatives, could damage institutions, drive them out of the EU and raise borrowing costs."
http://hereisthecity.com/2011/11/09/osborne-wins-wide-support-in-fight-against-tobin-tax/

"Eurozone members Finland, Italy, Ireland and the Netherlands have already voiced their unhappiness at the plan, joining EU states such as the UK, Bulgaria, the Czech Republic, Denmark, Romania and Sweden."
http://www.fundweb.co.uk/uk/put-robin-hood-tax-to-bed-says-osborne/1041169.article
 
Quote from FightTheFuture:

I don't remember Luxembourg (Eurozone) and Romania (EU member) mentioned before as being negative toward FTT.
---------------------------
More...


I read an article in September written by this guy, Lucian Croitoru:
http://www.zf.ro/opinii/opinie-lucian-croitoru-ce-stim-noi-despre-capitalism-si-nu-stia-marx-8701229

He was very close to become Romanian prime minister in 2009. Now he is the adviser of the Governor of National Bank of Romania and I think president Basescu trust his judgement since he propose him for prime minister.
The real danger is if next year the Social Liberal Union (USL) will win the elections.

http://en.wikipedia.org/wiki/Lucian_Croitoru

He said in that article:

"Currently, politicians seem more powerful and will restrict the freedom of markets, identified by the public as the main culprits for the current crisis. As an adaptation of regulation to market conditions is necessary, the danger of jumping over the top is obvious. Surcharge on financial transactions would be such a leap."
 
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