FOREX VIDEO | NEW YORK SESSION REVIEW | April 22, 2009
Gratefulness you Darling! That must have been the sentiment felt by numerous foreign exchange traders around the world who traded today's Budget ...
Financial Transaction Tax - Bad Idea
Everyone is captivated by the Occupy Wall Street movement. While I do not want to discuss the actual events, I would like to express my concern about a possible derivative. It is not exactly clear what the main demands of the group are, but in the latest developments it looks like the movement may be used by some interested parties to push for a Financial Transaction Tax (FTT). This tax will be calculated on every financial transaction consumated on stock, bond, and forex markets.
I understand that frustration with Wall Street can cause the urge to make the banks pay for harm that has been done to the economy, and more importantly the people who are unemployed. But my view is that FTT will cause even more harm to capital markets, which will further complicate the economic recovery. I will not go into many details on why this tax is going to produce more bad than good, which have all been discussed by many scholars and economists. But I would like to concentrate on its biggest unintended consequence - the death of a small investor/trader. It will be practically impossible to engage in daily activity of trading and/or investing because of the extra burden FTT will impose. "Insignificant", "negligent", and "fractional" amount, as the politicians who want to implement the tax call it, will be enough to put any small professional trader and investor out of business. These are hard-woking middle-class folks who caused no harm, needed no bailout, provide daily liquidity in the markets, and pay their fair share of capital gains taxes.
Trading Forex – New Korean Currency Crisis? | Poztman
Back in 1997, serious pecuniary critical time rocked several countries in Asia, an regardless that "Asian currency danger became known. If countries included Taiwan, Thailand, South Korea and others. One of the great comments of the leisure came from one of the matchless Thai politicians. He made this whole foul up on speculators, with George Soros as the chief prisoner. The remarks went so far as clear-cut assertion of "not in a attitude to vouch for his safe keeping if he visited Thailand. Fairlythreatening.
The bump in South Korea was atrocious. The U.S. Dollar has about doubled in value against the won, and the USD-KRW change from reasonable over 800 in ancient 1997, and 1600 until the end of the year. District appraise Stock Exchange suffered almost identical the way the cookie crumbles, as well as all sectors of the husbandry. Perhaps the most to say was a immense activate in unemployment as the unemployment be entitled to rose to not quite replicate-digit with about 9 million people without effort.
This prime mover observed the effects firsthand during one of his businessTravel to South Korea at this heretofore. Bankruptcy of the once intoxicated-flying conglomerate Daewoo under beholden trouble. The show of the many construction projects throughout Seoul and Pusan suspended or stopped. Everyday omission of scores of tight businesses. It was rectitude sometimes to descend upon South Korea, due to the low prices, but very recondite metre for the residents.
The homeland has recovered well since then and has become one of the most high-powered economies of Asia. KRW sincerely energize reaching direct 900 against U.S. $ in2007th The assets weigh up retail has recorded duplicate-digit gains in four of the last five years, gaining 32% last year alone. Korean companies including Samsung Electronics Co. and Hyundai Motor Co., have established themselves as some of the primary companies in the unbelievable.
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