|
Joined Jul 2008
|
Status: Burning candles
|37 Posts
I wondered this too, but I don't think it'll have any noticeable effect on us retail traders, it's the big hedge funds and banks that are going to be more tightly regulated due to the sheer size of their transactions.
And if anything, I don't think the FOREX market has been blamed for any of the current problems, as far as I can make out it's share dealers who have been singled out as part of the problem. For example, last years suspension on short selling did not effect the FOREX traders. . .
What about the whole issue of tax heavens? How do they figure targeting those will prevent something we have seen from ever happening again?
Ignored
Hah ! They have no real idea of economics at all. Isn't it the ones who caused this mess who are now the saviours who are going to fix it ? But with this volatility, would we care ? Ah ! Love FX.
They will again use the excuse of going after drug money or terrorists or off duty nurses, will again trample all personal public rights and eventually achieve sweet FA.
Only thing that interests me is the "real" intentions of some who have said we "will go along" CHY agreed to comply with OECD but they craftily kept bank secrecy except for that ingrate German clerk who blew the whistle recently - or was that Lichtenstein.
Anyway, work within the letter of the law and there is no worry.
Russia and China are pushing to use SRDs as a reserve currency instead of U.S. dollars due to the basket nature of the SRD which is comprised of multiple currencies which will lower the volatility in the value of a country's cash reserves.
What is the SRD? First time I've heard of this. From the general consensus that I've been aware of, either the Chinese Yuan or the Euro will be the next base currency but I personally would have no clue.
Russia and China are pushing to use SRDs as a reserve currency instead of U.S. dollars due to the basket nature of the SRD which is comprised of multiple currencies which will lower the volatility in the value of a country's cash reserves.
Ignored
Respectfully, they are SDR's, special drawing rights. It is just another fiat, BUT, it is a representation of a basket of currencies. So, in the end it is just a smoke screen of more paper coming from the SAME presses. The IMF would love to be the world's real bank.
