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Rampant hedging, derivatives and speculation have made a dog's breakfast of our economies.
Nevertheless, some very nice people think that there's nothing wrong with speculation, and particularly currency trading. So, they want it to keep going, so governments can tax every currency trading transaction.
Where's the money gonna go? If experience is a good teacher, it'll go straight back to those same banks to bail them out when their scamming fails again. and it will.
It'll probably be 1% of the trader's fees, or about 100 quid per trade. Do you think it will stop currency speculation, which is all about gossip and band-wagon jumping? Not at all.
By the time the lobbyists are done with it, only travellers getting Euros at their travel agent's will be paying any of the tax.
coming soon: Guardian story from September
"G20 urged to fight poverty with currency tax" by Nick Mathiason
-Costick67 (8^P
