Financial transactions tax ok'd in Europe

http://www.bbc.co.uk/news/business-21138494?

 

It's official. No longer just a rumor. The Pandora's box has been opened.

 

WOW ... the level of insanity is truly breathtaking.

 

This is the financial world joking normal people and no-global.
In France it's applied only to liquid shares (derivatives left out).
In Italy it's applied to liquid shares,and it seems that it will be paid ONLY on overnight positions.So intraday trading is left out.This is the real joke.
Derivatives will suffer just a modification/cancellation fee similar to the one already present in Eurex.
Not to mention that currencies (those in James Tobin's mind) are unaffected.
Please call it FTT and don't insult James Tobin by calling it "Tobin tax".

 

Anybody knows if Forex is impacted by the FTT in those countries?

 

no kidding, it's going to be hard to get around this one

How's that pro business colony in Honduras working out?

raise taxes on traders

they have plenty of money

it's only a penny

and the thing is, I'd be plenty willing to pay more social security or medicare taxes to make them solvent if that's what it costs

but don't single me out because I buy and sell something you don't understand

how bout a transaction tax on sanitary napkins and make up?

I don't need it, do you? who would that hurt? It's only a penny

 

I don't think it will impact forex.Anyway,they still have to implement it.As far as I know,only France and Italy have introduced it.
Germany said it could wait till 2016.They understood it's a dumb suicide.

 

it probably won't happen in my lifetime, and if it does, it will just start out as a penny

I watch them over on msnbc smiling and saying how it won't hurt anybody

what they don't realize is, they are taking the market out of the peoples hands, which is namely you and me, and turning it wholesale over to the big banks

and it's all done through the tax code

the most powerful tool ever devised by any politician (or the people that bribe him)

they can use the tax code to crush competition

 

There is one thread following FTT on ET. You may want to move your discussion there:

Forums ›› Main ›› Wall St. News ›› 1/4% Tax on all stock trades pushed in NY Times today

 

yeah, except it's like 114,000 pages,

and there are some really hardrcore believers over there

some of us just want to bitch and talk

we are not commiitted to an agenda

and I don't really like it when someone thinks they control the conversation

I'm not really trying to sign up for anything