I know many people on this forum including myself enjoy listening to what Mr Farage has to say so here's some more [youtube]http://www.youtube.com/watch?v=-rmh1yVdlqo[/youtube]
Financial transaction tax would kill high frequency trading, because the money banks steal form customers has to be paid in taxes. Banks make billons from HFT that is why GB rather leave to European Union than allow the banks to be taxed.
So this also means that volume of paper gold&silver trade will drop significantly if this measures r approved?
Does it matter? Talking about idealised values of liberty, freedom and other such nonsense. He has a moral crusade idealistic mindset which for a world built on the opposite seems like it's the 'good fight' but he's yet to realise the good guys have already lost. [youtube]http://www.youtube.com/watch?v=GUfS8LyeUyM[/youtube] Absolutely fantastic song this... but it sums up the nature of the world we see today. Whilst I tip my hat to the moral crusaders out there like Nigel Farage for fighting the good fight, they have to (at some point) come back to reality and realise it's a lost cause.
Not likely because money moves where the cheapest to trade, and until the USA joins in expect no different, and they never join. That is why the tax is a stupid idea for Europe only. This is not only gold and silver, but everything else traded on paper The tax would not be a big deal without HFT, because it is a customer pay tax.
Of course in defence of the "other side", what Nigel doesn't mention but that everyone on the European Parliament knows, the most economically nefarious wrecking ball in Europe is the City of London. If Nigel is going to accuse the EU of being economic pirates then he needs to take a long hard look at what the BOE and the City of London has done to the rest of the world's economic systems.
