France, Germany to Propose Financial-Transaction Tax

[Dogfish]

UK treasury came out and said it's pointless unless global.
Good luck with that.

 

[zdreg]

Quote from sheda:

What the fuckkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk is it with you people..keep typing you fucking idiot.

do u trade the way u write or is your keyboard having a bad hair day?

 

[euclid]

Quote from Dogfish:

UK treasury came out and said it's pointless unless global.
Good luck with that.

I don't know why they keep using this line. Why don't they admit that it's pointless even if it is global. There is no upside to this idea.

 

[zdreg]

Quote from euclid:

I don't know why they keep using this line. Why don't they admit that it's pointless even if it is global. There is no upside to this idea.

there is an upside for members of congress or parliament

quote from forrest gump: when the shit hit the fan do something even if it is the wrong thing.

members of the political class are firm believers.

 

[Picaso]

http://en.wikipedia.org/wiki/Tobin_...e_form_of_general_financial_transaction_taxes

 

[sheda]

Quote from zdreg:

do u trade the way u write or is your keyboard having a bad hair day?

Just woke up.

 

[sheda]

UPDATE 2-Ireland to insist transaction tax apply to whole EU


DUBLIN, Aug 17 (Reuters) - Ireland warned on Wednesday that French and German proposals to introduce a new financial transaction tax will face opposition from other European countries and Dublin will insist that any such tax apply to the entire EU, not just euro zone members.

http://www.reuters.com/article/2011/08/17/ireland-europe-idUSL5E7JH0MC20110817

 

[bone]

I find it absolutely astonishing that governments and political leaders propose new taxes and additional financial levies on the populace as solutions to complex problems.

Amazing. Sign of no real problem solving or willingness to make tough decisions.

 

[Dogfish]

Quote from Picaso:

http://en.wikipedia.org/wiki/Tobin_...e_form_of_general_financial_transaction_taxes

"Even though the tax on fixed-income securities was much lower than that on equities, the impact on market trading was much more dramatic. During the first week of the tax, the volume of bond trading fell by 85%, even though the tax rate on five-year bonds was only 0.003%. The volume of futures trading fell by 98% and the options trading market disappeared. On 15 April 1990, the tax on fixed-income securities was abolished. In January 1991 the rates on the remaining taxes were cut in half and by the end of the year they were abolished completely. Once the taxes were eliminated, trading volumes returned and grew substantially in the 1990s."

 

[C6H12O6]

Quote from bone:

I find it absolutely astonishing that governments and political leaders propose new taxes and additional financial levies on the populace as solutions to complex problems.

Amazing. Sign of no real problem solving or willingness to make tough decisions.

Isn't printing money by the central banks a tax on the populace ? Or the normal process of money creation by the commercial banks when they lend it ?
What I find astonishing is that people don't stand up against banks.

However it seems pretty clear to me that governments are fed up with banks making profits betting against countries.