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

David Cameron is going to " sit in " on the talks concerning the Euro Zone members, he will neither have influence or a vote ( unless he changes his mind about the veto )


Relations between the UK and France are shattered, switz-and the usual suspects will not give into this, I have not discounted the power of German trade and business unions to put a stop to this, or the institutions involved to swiftly find a way around if implemented.

The tides have turned, there was great frustration at the inability of merkel/sarkozy to come to a substantial agreement and now with France attacking Britain in such a childish unprofessional way and merkel appearing to be absolutely clueless, on top of another failure,I have a feeling any respect for them held by those who count has truly been washed away and there's not much further they can push it.
 
Quote from sheda:

David Cameron is going to " sit in " on the talks concerning the Euro Zone members, he will neither have influence or a vote ( unless he changes his mind about the veto )


Relations between the UK and France are shattered, switz-and the usual suspects will not give into this, I have not discounted the power of German trade and business unions to put a stop to this, or the institutions involved to swiftly find a way around if implemented.

The tides have turned, there was great frustration at the inability of merkel/sarkozy to come to a substantial agreement and now with France attacking Britain in such a childish unprofessional way and merkel appearing to be absolutely clueless, on top of another failure,I have a feeling any respect for them held by those who count has truly been washed away and there's not much further they can push it.
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How ironic it would be if Sweden, the Czech Republic, Malta, etc. end up restructuring the treaty so it's acceptable to the UK. Cameron will look like the greatest negotiator on the planet. He creates chaos by calling the Merkel/Sarkozy bluff, then sends in footsoldiers to clean up the mess. Brilliant!
 
Was going over numbers again as I have some scotch. I system trade 7 markets (5 forex and 2 financial futures). I swing trade, hold few days average and about 14 trades a month. Risk 1.5% a trade and average leverage is only 2:1. The defagio tax would take off 21% a year of my returns! Insanity and I am not daytrading.

This is a nuclear bomb aimed at NYC and Chicago.
 
Also add in the fact that the liquidity in futures and forex would drop dramatically and spreads widen, I would double that 21% number. I'm outta business.
 
Quote from Stok:

Also add in the fact that the liquidity in futures and forex would drop dramatically and spreads widen, I would double that 21% number. I'm outta business.
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even without any change in liq, i would be out as well and it's not even close.
 
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