10:1 leverage? possible solution

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MightyOne
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Postby MightyOne » Wed Mar 17, 2010 6:02 am

jz166 wrote:
MightyOne wrote:
bredin wrote:Currency Options? are they subject to the new rules? I havent actually read the proposed legislation.

G.


The new rules would only have an impact on an outright.


MO, why do you think they want us switch from spot to futures markets?


It is always and forever about money.

Safety and liquidity attract investors and they have one but not the other.

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leonyde
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Postby leonyde » Wed Mar 17, 2010 6:09 am

"the legislation may be applied to all US entities that trade, no matter where they trade or who they trade through"

US government has no right to force foreign companies to follow their regulation in regard to US nationals. (They have other means of pressure though.)

As somebody said, you can open a company abroad and you?ll be fine. Or move to Monaco, so you'll also save on tax :D

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bredin
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Postby bredin » Wed Mar 17, 2010 6:51 am

the patriot act (eg) gives the us govt the right to tax US citizens, even if they no longer reside there or work for a US company.

Its one of the reasons a friend took citizenship in australia, despite being married to an aussie.

I rather think they do consider themselves able to pass such a law.

G.
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leonyde
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Postby leonyde » Thu Mar 18, 2010 5:21 am

bredin wrote:I rather think they do consider themselves able to pass such a law.


Exactly.

I'm not an expert but I think it is not legal on an international level. There are similar laws in France (for tax only), but if you look closer with the help of a specialized lawyer, you can find out they are simply *illegal*... A law, being illegal, funny?

I don't recall what the exact term is, but there are agreements between countries to avoid double taxation. There are criteria to select which country will collect your tax (work, duration of stay, etc), if this cannot be determined by those factors, it's (more or less) up to you to declare your income to one or the other.

Once your incomes are declared (and taxed) to one country, the other cannot claim the same. For example (whatever the patriot act says): if you work in France, and reside in the country for more than 6 month, then you will be taxed under the French system, for the relevant fiscal year. There is no derogation to that (?), and once you have paid your tax to one country, you can't pay it a second time to another (even if they would like it!).

Most of the countries have similar regulations in regard to taxation of foreign nationals.

What every country want, just tax anybody to death, by any means necessary. This is what I hate about the system, they steal the money of honest citizens and businesses who simply pay their tax without asking any questions... They make more money taxing struggling citizens (due to their number) than multinational companies. Because the multinational company has a team of lawyers to work around that, and they won't pay a single $ more than what is strictly required.

Now about that leverage thing, if an American citizen wants to trade 400:1 on an Asian broker, who will stop him?

Humble
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Postby Humble » Thu Mar 18, 2010 7:29 am

Not the Asian broker that's for sure, let alone a Russian broker.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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newschool
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Postby newschool » Thu Mar 18, 2010 12:13 pm

Humble wrote:Not the Asian broker that's for sure, let alone a Russian broker.


The Russians still hate Americans. Really. You can see it in every articles here http://english.pravda.ru/ . Problem is, they are right most of the time about communist America...

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bredin
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Postby bredin » Thu Mar 18, 2010 8:33 pm

They dont need to audit the broker, they can audit you.

Also remember that the us govt has become ever increasingly surveilist, police statey, and have effectivly unlimited resourses to destroy those individuals that wont play ball.

G. (Who told you I was paranoid? I just like freedom, honest)
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