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

Quote from Stok:

With greed, at least someone can reason and make smart decisions :D

Roosevelt and FDR and the "Great Society" was the beginning of the end and how the democrats have used lies and guberment handouts to gain more and more power. I might as well go ahead and write the book about what brought down the USA.
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I guess that depends upon how you define greed. "Capitalistic success.. then desiring to keep what you've earned" is not my definition of greed. (Of course money can be made in a greedy and unethical manner.. that's not what I'm talking about.)

It's the Libtards, parasites and tit-suckers.. and the politicos who pander to them who are the greedy bastards. (You know, those who did not earn.. but who WANT.. and who demand it be given to them in exchange for their vote.. despicable.)

Was it Franklin who said, "... We've given you a Republic... if you can keep it..." ?? Looks like the greedy bastards and politicos have pissed it away.

When I think about who were the WORST presidents in American history... the ones who did us the most harm... funny how the Progressives and Liberals seem to top the list...

T. Roosevelt
Woodrow Wilson.. gave us the Fed (on his death bed, apologize for doing so)
FDR
Lyndon Johnson
George W. Bush
and #1 Worst... Odumbo.. will have heaped $8 TRILLION of debt upon us by the end of his 1st (and hopefully ONLY) term... and made GREAT strides in ACCELERATING our morphing into a communist-like, police state country.

(Not sure where to put Carter... ineffective but not sure how much harm he did.)

Go ahead and get started on the book... you've got the right theme.




:mad: :mad:
 
Sorry guys late night and late start today. Was too anxious to watch CNBC and Bloomberg late last night as the UK desk opened news coverage on this. We are all rightfully very concerned about it. I am reading the latest news and will reply soon. Still catching up.

It seems to be unfolding as I projected. Germany's strategy is to stigmatize the UK, and not go for all or nothing on FTT or treaty changes, now impossible with the UK veto. Plus, they don't want referendum risk and those type of delays either.

I expect Germany will forge ahead with FTT in the core and pressure other EZ members. But all don't have to agree. The FTT will explode as much as possible to prevent evasion and maximize reach, to all money centers tagged with a FTT-zone domiciled transactor.

We need to study the exploding bombshell features and scare the money centers worldwide. All of them need to thank Cameron and back him up. Who here can dig up the exact FTT language so we can analyze it carefully. The reach language is key.

As pointed out on the thread, there seems to be a few months for details and final agreements on FTT and other details. Todays agreement in principal will be hard to backtrack on. So we are still in the fight - if anyone is listening - on the devil in the details. Sort of like Dodd-Frank, the bill was nasty but watered down and delayed afterwards.

So some will jump first on FTT and we will see first hand what happens. Will transactions be able to flea, will there be job losses, will it hurt banks, how much FTT will be raised? Hopefully, banks and others will flea or threaten leaving their FTT domiciles even before it takes effect in 2014.

The debate will be over and it will be replaced by reality, which we project will be bad. Hopefully, the EZ core will melt on FTT and they will reverse course at that juncture. Although turning around the German locomotive won't be easy.

This go it alone trend is troubling, since we knew they would never get global or full EU consensus on FTT. This action in Europe will embolden FTT proponents in the U.S. and elsewhere too. Solo FTT is a dangerous-exploding snowball that could cause a reciprocating tax war over dual FTT plans, and each country hungry to assess and keep the tax take for themselves. Sort of like an inverse currency depreciation war for trade.

I think we need our www.TradersAdvocacy.org to go to the next level. FXCM sponsored it, and we need 20 other sponsors to put up the money we need to enter the U.S. big-boys lobbying and representation game in DC. As my Forbes editor asked me, am I writing about FTT for an echo chamber?
 
Quote from Robert A. Green:

This go it alone trend is troubling, since we knew they would never get global or full EU consensus on FTT. This action in Europe will embolden FTT proponents in the U.S. and elsewhere too.
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I believe that's the strategy. Merkel will implement the FTT on a limited basis in the EU/EZ and then begin a Teutonic bullying campaign to get other countries to join in. The French will play their usual role as cowardly collaborators. Once Merkel gets a core group of countries on board, she'll begin calling other countries (e.g., the US, Canada, etc.) "irresponsible" as she takes her bullying campaign global.

Too bad there's no Winston Churchill to stand up to the leader of the Fourth Reich. (Though I do give Cameron credit for not peeing in his pants when sitting across from the Euro-Dominatrix.)
 
We are right to blame Germany on snowballing FTT.

My Forbes editor told me yesterday, as he was editing and publishing my German hardball blog 'you can't call the German's names.' He's right, we need to win on our arguments and reality. Glad my editor added FTT to my blog title too, as it wasn't in Google alerts last night. Not that many read these FTT blogs anyway.

On the outside, we need to calmly and cooly double down now, and not wear our emotions and frustrations on our sleeves. Readers and listeners will otherwise think we are sour grapes as day traders and are too one-sided in our views. I've been a name caller and will try to cool it. But, I am ramping up our efforts and fight.

Anyone want to become a Director of www.TradersAdvocacy.org? I need your help. Thanks.
 
Quote from Robert A. Green:

We are right to blame Germany on snowballing FTT.

My Forbes editor told me yesterday, as he was editing and publishing my German hardball blog 'you can't call the German's names.' He's right, we need to win on our arguments and reality. Glad my editor added FTT to my blog title too, as it wasn't in Google alerts last night. Not that many read these FTT blogs anyway.

On the outside, we need to calmly and cooly double down now, and not wear our emotions and frustrations on our sleeves. Readers and listeners will otherwise think we are sour grapes as day traders and are too one-sided in our views. I've been a name caller and will try to cool it. But, I am ramping up our efforts and fight.

Anyone want to become a Director of www.TradersAdvocacy.org? I need your help. Thanks.
More...

Thanks for the advice. I will cool it with the name calling. I'm biased by a grandfather telling me stories of fighting the Germans in WWII, and telling me how the French army had a way of showing up after the battle was over and taking credit for the victory. When I explained to him what's going on in Europe with the FTT he said: "Nothing's changed."
 
Your the best Tom and we think alike.

Please everyone help advance my last Forbes blog, which is on the "mark."

Kindly add some Comments at the bottom, to to get a discussion going on Forbes if we can. Please Share it too on the social media from that page. I want Forbes to hear the alarm and push this more too.

"While Europe Slides, Germany Plays Hardball On Financial Transaction Tax"

http://www.forbes.com/sites/greatspeculations/2011/12/08/while-europe-slides-germany-plays-hardball/

Thanks.
 
Britain Isolated After Vetoing Euro Zone Pact:

Some pretty interesting stuff here:

http://www.nytimes.com/2011/12/10/world/europe/britain-isolated-after-vetoing-euro-zone-pact.html

Outside of politics, there was widespread confusion over what this all actually means. One view was that no matter what Mr. Cameron says, Britain will still be subject to a financial transaction tax should it go ahead, at least as far as Europe has jurisdiction over its non-British banks. Those banks working in London would, under this scenario, have to pay the taxes back home.

Some analysts said it was far too early to make any assumptions about what Britain’s veto Thursday night would mean for the future of London as a financial center.

“The City has huge benefits for the E.U. and it’s not in the euro zone’s interest to see that evaporate and moved somewhere else,” Yael Selfin, a director at PricewaterhouseCoopers, said. “This is all part of a much longer bargaining process.”

But concerns among some lawmakers remain mainly because London’s financial sector is among the biggest contributors to Britain’s economy. Shrinking the sector by forcing business to the European continent could have a negative impact on economic growth.

“The concern is that if the U.K. finds itself increasingly isolated,” Mr. Penn said. “You can see — if you’re a pessimist — that Europe could get its revenge on the U.K. by a whole array of bureaucratic and regulatory reforms.” In that scenario, continental banks would be prohibited from dealing with the City unless the British firms adhered to Europe’s regulations.
 
Malta successful at EU Summit:

http://www.timesofmalta.com/articles/view/20111209/local/malta-successful-at-eu-summit.397605

Malta's efforts to keep its economic flexibility paid off this afternoon as a possible introduction of a Financial Transaction Tax and a Common Corporate Tax Base as originally proposed by France and Germany were removed from the final agreement.

"This is a successful summit for Malta as we have managed, albeit with difficulty, to safeguard out national interest," Prime Minister Lawrence Gonzi told a press conference in Brussels after all-night long talks interrupted only for two-and-a-half hours.
 
Quote from listedguru:

Malta successful at EU Summit:

http://www.timesofmalta.com/articles/view/20111209/local/malta-successful-at-eu-summit.397605

Malta's efforts to keep its economic flexibility paid off this afternoon as a possible introduction of a Financial Transaction Tax and a Common Corporate Tax Base as originally proposed by France and Germany were removed from the final agreement.




I wonder how long before the FTT is put back into the agreement? If it's true that the FTT has been taken out, could this lead to Cameron changing his mind about the UK supporting the new treaty?
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