Proposed NFA Capital Requirement - page 63
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The onslaught should continue in earnest!!!
How is this fossil on the front page of the forum?
Nfa regs???
are the new nfa regulations in effect i.e., no more than 10/1 margin?
if so is there any brokers ANYWHERE who will still offer 100 to 1 or better, where I will not be sanctioned by the NFA or penalized for using them?
ATTN: US Traders Currency Transaction Tax Bill Introduced in House
In what seems like an unrelenting effort by US government and regulators to drive all US Forex transactions offshore... at least until they make that illegal too, today Pete Stark has introduced H.R. 5783 the ludicricously named, Investing In Our Future Act that will impose a tax of .005% on each currency transaction. Of course in his mind, only a few evil currency speculators will be affected, but the wealth will be spread around to solve global warming, and help children everywhere. After all, who could be against helping children?
Mr. Stark:
“Every day, there are $4 trillion worth of currency transactions,” Stark, D-Fremont, said in a news release. “The vast majority of these are speculative – banks trying to make a buck by out-guessing the system. This speculation contributed to the last Wall Street crisis and makes our financial system less stable.”
“The proceeds of a new tax on currency speculation will be used to provide billions in new funding for important global and domestic priorities. At home, this bill will give more money to affordable child care programs. Globally, it will contribute billions to climate change and world health programs,” added Stark, chairman of the House Ways and Means Health Subcommittee.
Stark’s H.R. 5783, the Investing In Our Future Act, would impose a 0.005 percent fee on the buying and selling of world currencies and on currency derivative transactions by a U.S. person, including domestic corporations, partnerships, subsidiaries of foreign corporations, and individual citizens and residents.
Among groups supporting the bill are ActionAid, Friends of the Earth, RESULTS, Health GAP (Global Access Project), Sustainable Energy and Economy Network at the Institute for Policy Studies, and Africa Action.
All prosumably organizations with their hand out looking for some wealth to be spread their way in exchange for their democrat votes.
You can contact your representative in a quick and easy way... even if you don't know who he or she is ( shame on you) at this link run by the US House of Representatives. Just enter your zip code and click the button.
I'm not allowed to post URL's so google "contact your congressperson".
How to avoid NFA regulation regarding Hedge (Locking)
New cftc meeting coming up!!!!
Hopefully this will become a sticky!!!!
___________________________________ _______
From the CFTC website:
What: Twelfth Series of Proposed Rules under the Dodd-Frank Act
Where:
CFTC Hearing Room, 1155 21st Street, N.W., Washington, D.C.
When:
Thursday, February 24, 2011, 9:30 am (ET)
NO, I AM NOT KIDDING: http://www.cftc.gov/PressRoom/Events...ank022411.html
___________________________________ ______________
Open Meeting on Twelfth Series of Proposed Rules under the Dodd-Frank Act
As if the already passed rules were not restrictive enough, there is more!!!
Okay!!! Enough is enough UNCLE SAM!!!! Hopefully everybody will call their congressman/woman and put some pressure on these #$%holes! I would even think a march on the capitol would be in order here!
Remember the Bill of Rights the right to petition the Government for a redress of grievances!
Lets ban together American FOREX TRADERS UNITED!
WHAT HAPPENED TO THE FOLLOWING WRITTEN STATEMENT:
WE THE PEOPLE!!!!!!!
Forex register
Those individuals and firms who trade forex, serve as intermediaries or counterparties to forex transactions, or work as associated persons will soon be required to register with the Commodity Trading Futures Commission (CFTC) through the National Futures Association (NFA) once the new CFTC Proposed Rules are finalized. Registration will help the NFA and CFTC to have better oversight of the forex industry and more control over potential fraud in the industry. There are different fees associated with Forex registration, which can be discussed with your lawyer.
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Obama to Tax All FX Transactions to Fund Green Climate Fund
From The Washington Times:
December 5, 2011 11:29am 131 Comments
Report: Obama, UN to tax US for Green Climate Fund
byJoel Gehrke Commentary Staff Writer
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President Obama's team of negotiators at the United Nations Climate Change Conference may agree to a tax on foreign currency transactions, designed to pay for a "Green Climate Fund," that would fall disproportionately on American travellers and businesses, according to a group attending the conference that is skeptical of the UN position on global warming.
Negotiators at the conference are considering "a new tax on every foreign currency transaction in the world," according to the Committee for a Constructive Tomorrow (CFACT). "Every time you travel abroad, you'll have to pay a climate tax," explains CFACT, the group that released the "Climategate" emails. "More importantly, every time we import goods, every time we export our fine products (think jobs) we will do so with a climate tax skimming off the top."
European countries would evade much of the tax burden, however, because "transactions within the Eurozone won't have to pay this new tax."
CFACT suggests that Obama is open to implementing this tax and similar policies in the absence of a full climate treaty, which would require congressional approval. "We have learned that while many have discounted this conference, knowing that a full climate treaty is difficult to achieve especially with a U.S. Senate that will not vote to ratify," CFACT says. "Obama and his fellow climate travelers are working around the Senate and planning to stick America with the bill."
How that's Hope and Change working out for you?