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

"Merkel steps up call for global financial market tax"

http://www.monstersandcritics.com/n...steps-up-call-for-global-financial-market-tax

-Guru

 

Everything has been on the value of the transaction, not the margin or amount of money used but the notianal value of whatever instrument you use. The exemption is on the first 100k total for the year.

 

Some color on the $100B fund:

Prime minister Meles of Ethiopia proposed the formation of a new climate funding mechanism that would see poorer nations receive $50bn (£31bn) a year from 2015 and $100bn a year from 2020 to help them invest in low-carbon technologies and climate adaptation measures.

The proposal, which is in line with plans put forward by a number of industrialised nations, including the UK, was well received by richer countries, although there were protests from some poorer countries that they had been " sold out".

Meles admitted those countries calling for greater levels of climate funding would be disappointed, but insisted his compromise plan represented the best chance of a deal being done, adding that under the proposal poorer nations would be guaranteed a say in how the money is distributed. "My proposal dramatically scales back our expectation of the level of funding in return for more reliable funding and a seat at the table in the management of such a fund," he said. " Because we stand to lose more than others we have to be flexible."

He also proposed the formation of a new commission to report next year on how the increased funding should be raised. A number of different mechanisms will be analysed, including levies on the carbon market, carbon taxes on shipping and aviation, and a Tobin tax on bank transactions.

http://www.businessgreen.com/business-green/news/2255176/despite-progress-copenhagen

So now we have to wait for the IMF's report along with this new commission? This is just nuts..

-Guru

 

Also John Kerry says he was 100% certain the House and Senate will pass a climate bill early next year should an agreement be reached at Copenhagen.

"Meanwhile, US senator John Kerry said he was "100 per cent" certain the US would pass a climate bill early next year should an agreement be reached at Copenhagen.

Kerry, who has been engaged in a bipartisan effort to secure support for the bill from moderate Republican senators, said the US would make good on its pledge to cut carbon emissions.

"With a successful deal here in Copenhagen, next year, the US Congress – House and Senate – will pass legislation," Kerry told the summit. "I will tell you right now, 100 per cent, we are going to pass major climate and energy legislation that is going to have an impact on emissions."

http://www.businessgreen.com/business-green/news/2255176/despite-progress-copenhagen

-Guru

 

Remember thats just the guy from Ethiopia, we shall see what the US says after this is weekend

 

thanks riskit. also, folks, regarding financial centers. It's in the "Global North" that we need to see what happens. That means centers in the EU, Australia, US, Canada, New Zealand, Singapore, and Japan. The reason I say "Global North" is because that's who the climate eco-maniacs are targeting. There is also a move to connect trade deals to climate change, another backdoor if you ask me.

 

Quite honestly, I've always never bought that whole "open democracy pro-humanitarian" line from Soros following his tenure at Quantum. In fact, I highly doubt he really ever left his fund. To me, George Soros is like that James Bond villain, Max Zorin from A View To A Kill. That character schemed to use flood silicon valley to maximize the value of his holdings of rival chip firms. Now I'm not saying that Soros is a terrorist, but it wouldn't surprise me that he's built some sort of position where all these social-political shinannigans of his would result in the mother of all windfalls. You get what I'm saying here?

 

Dammit, that's what I'm talking about! Didn't someone post a while back that she was against a transaction tax or that Germany wouldn't come up with one? Now we got this!?! That's why I'm dubious about Rudd!

 

Here are some comments from Pelosi regarding the $100B climate fund:

"She pointed to funding for international adaptation in the sweeping energy and climate bill the House approved in June, as well as Congress’s power of the purse."

Whereas Hillary Clinton says this:

“We expect this funding will come from a wide variety of sources, public and private, bilateral and multilateral, including alternative sources of finance,” she added.

http://thehill.com/blogs/e2-wire/67...gress-has-clintons-back-on-climate-aid-pledge

-Guru

 

Its that alternative word that scares me