It looks like this forum has been here 4 yrs almost. The talk of a transaction tax has pretty much died in the us lately and if this hasn;t based during an almost 5 yr bull mkt the chances are its pretty dead as it will 100% die during the inevitable bear mkt coming in the yrs ahead
Not sure...During bear markets, mom and pop, pensions and those who actually vote these laws lose money, so " the market is broken", " Wall Street is running the markets amok with HFTs" and " Traders are killing mom and pop retirements with their short positions". Give them a bull market and they progressively forget. Most people simply think a ( stock )bull market is "good", a proof that the markets are working.
Apparently the lawyers of the EU are as pissed of the FTT crew on the legal level as we are on the economic justifications. Check III 16 and 20 for example. The whole document means " There were international laws and treaties before you decided to pursue FTT, they didn't disappear with the advent of your revolutionary idea, you stupid..."
In the video said currencies also going to be tax is this for sure? So forex is done on EU that's nuts.
Interesting opinion: http://www.ft.com/intl/cms/s/0/d7196aa0-1afa-11e3-b781-00144feab7de.html#axzz2em2DoUYM
http://www.bloomberg.com/news/2013-...ce-transaction-fees-under-obama-proposal.html Obama administration wants an equivalent of SEC fee for CFTC.
So let me get this straight: The block of lawyers that represent the entire EU say that the EC's FTT proposal is illegal yet Semeta says it's simply a misunderstanding and work on the illegal proposal will continue. Are these folks mental? I think it's time for Semeta and the rest of the followers to admit defeat once and for all. You gotta believe many of the 11 countries that supported this proposal are getting cold feet. -Guru