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justrading

Registered: Apr 2011
Posts: 840

08-21-12 06:37 AM

Quote from vicirek:

Socialism is ideology (form of religion) and you guys try to use logic and hard data to convince raging socialists that they are wrong. They know that and the worse the economy gets the better for them. That is their motto. Then they have more and more people dependent on government and they are more powerful. First they will nationalize what they can and when it gets unbearable they privatize it into their own hands and announce that they are capitalists now. So at the end all is about money. FTT is political weapon used by socialist crooks to transfer wealth for their own benefit. They want people who can oppose them to leave (if they could they would round them up into labor camps instead).

In Europe it is easy to introduce FTT because continental Europe capital markets are non existent for all practical purposes. It is about few percentage points of total global markets so do not expect any dramatic data that will show how bad FTT is. But the noise about FTT it makes is significant and dangerous. I hope that in the US people already get used to easy and cheap direct market access so introducing FTT will be more painful but still possible.

The FTT failed when it was introduced in Sweden, and that failure was readily proved by hard data.

I appreciate that the current debate is filled with lies and emotion, but there is still a place for hard facts. We may not like the numbers when we get them; that is a reality we will have to deal with.

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andohmeeta

Registered: Dec 2009
Posts: 225

08-21-12 07:51 AM

Quote from justrading:

The FTT failed when it was introduced in Sweden, and that failure was readily proved by hard data.

I appreciate that the current debate is filled with lies and emotion, but there is still a place for hard facts. We may not like the numbers when we get them; that is a reality we will have to deal with.

We must get the data then decide whether or not to use it and in what context. A sympathetic media writer (e.g. T. Worst...) could likely be persuaded to do this, but it's unwise to ask a media personality to use his clout investigating something without being very sure the answers he gets will be the ones we want.

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FightTheFuture

Registered: Jun 2006
Posts: 1709

08-22-12 05:30 PM

huffington post again

This article makes the absurd connection of FTT to economic freedom.
http://www.google.com/url?sa=t&rct=...NU8Tc8hVIgz3PEQ

The incentive to post is that all comments are pro FTT so far.

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clacy

Registered: Sep 2006
Posts: 2383

08-22-12 05:38 PM

Quote from FightTheFuture:

huffington post again

This article makes the absurd connection of FTT to economic freedom.
http://www.google.com/url?sa=t&rct=...NU8Tc8hVIgz3PEQ

The incentive to post is that all comments are pro FTT so far.

Huffpo and the people that frequent the site, are completely clueless regarding economics. It doesn't surprise me that they think a FTT is a good idea.

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Stok

Registered: Sep 2003
Posts: 786

08-22-12 06:13 PM

Every time I read a HuffPos article (mainly from the ones posted here), I feel the need to take an immediate shower because the Huff is one big liberal shill full of liberal lefties blowing each other....shiver... :-)

The reason we are seeing these articles re-hashed is that there is behind the scenes peeps at work who tell these liberal blowhard journalists to rehash FTT...this will continue for the rest of our lives BTW.

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drayton sawyer

Registered: Mar 2010
Posts: 52

08-22-12 06:17 PM

As Han solo would say from the movie star wars, "i have a bad feeling about this!!" I am just now after 5 hard years seeing my trading become profitable. i make 2-3 trades per day and that is it. it will make me sick ( i know this includes all of us) if this thing gets implemented into law. i certainly hope this thing goes away, but with all the support, i am very fearful.

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