NFA is reducing leverage to only 100:1 in America

[patriotstef]

Ok, who do you guys here use for what I'm talking about? I assume you guys are on Europe's trading brokerages?

[jhtumblin]

<------Only uses U.S. brokerages

[RicG]

<------Only uses U.S. brokerages

And in America - there are Congressmen/Congresswomen who want to take away your ability to trade with the Financial Traders Tax. If you'd like to fight this - please go to the following link and sign the online petition:

http://www.rallycongress.com/greentrade ... ction-tax/

Regards,
Ric

[jhtumblin]

Nah Ric,

I love the U.S.A. but at the same time I grow tired of fighting Capitol Hill and their stupidity in law-making. If something like that passed, It would be time for me to take my citizenship, and tax paying ability to another country.

[noone22]

What about Monaco or Seishel Islands?
No taxes for residents or corporations.

Not sure about implications, if you're still US citizen -
IRC seems to have very long hands nowdays.

[Patch]

jhtumblin

Even considering packing up and leaving the land of my/our birth is a great weight. We stand and fight the tyranny that abounds with the government seeking all control of our lives, else we leave America behind for a new land. -Patch

[bredin]

This talk about leverage and limiting it, taxing traders et al, got me thinking a bit about the deal I did a few months back to acquire some real estate- long story short I was able to get my hands on an apartment that is positively geared with absolutely no money out of my own pocket.

Ok, the last bit is a slight exaggeration, but all my expenses were covered at settlement and I rewarded my family with a nice new TV which my tenant is thoughtfully paying for

Sure I needed to fill in some forms and talk to a few people and spend a bit of time looking for the right property, but haven't I essentially used infinite leverage? With near enough to zero risk to boot....

And to think they're worried about people getting killed with a mere 100% leverage in their hands.

[jhtumblin]

I understand your point Bredin. However, banks, laws, and people in general are more favorable toward tangible assets.

I know that the current economic crisis has an international impact, but if you look specifically at the U.S. situation you will see how government has attempted to bail out the sides which have tangible assets, such as banks, large firms, and manufacturers etc. Yet they have completely failed to instill hope into those who made those companies possible in the first place (investors and shareholders), who hold the intangible portion.

Either way, if you are able to benefit from the tangible side of the market, by all means continue to exploit it.

[bredin]

The bailout situation is totally broken, in every country. Whats the long term (ie c.20 years) real position of the bailout?

Doesn't it just indebt future generations to the very people that caused the problems in the present? Isnt that the point of the bailout? Im sure president Obanker was thinking along those lines when he handed the fed the opportunity to create almost unlimited currency to "fix" the crisis.

Remember that in President Wilsons memoirs he said this of the passing of the federal reserve act in 1913:
"I have unwittingly perpetrated the worst crime against the people in the history of the Union." (quote may not be word for word accurate, but its close enough).