Giant Sucking Sound as US Dollars Leave the Country | Forex Factory

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Giant Sucking Sound as US Dollars Leave the Country

  • #1
  • First Post: Jul 5, 2009 12:04pm Jul 5, 2009 12:04pm
Sooner or later someone has to start asking "Why?". Why are traders in the US being killed by the regulating morons? Why do the regulators want to see the US forex brokers crushed and bankrupted? Why are they pushing investor money out of the country? Why aren't brokers suing or leaving the regulators in the dust?

Please post other questions that need asked and any potential answers. I'd really like to hear from those on the inside who disagree with the current bias against US traders/US investment.
  • #2
  • Jul 5, 2009 12:13pm Jul 5, 2009 12:13pm
Oh, that's a simple answer:

Because they can.
  • #3
  • Jul 5, 2009 12:14pm Jul 5, 2009 12:14pm
regulation is required to save people from scams.
  • #4
  • Jul 5, 2009 12:39pm Jul 5, 2009 12:39pm
Because NFA hates US brokers and wants to shuts them up.
  • #5
  • Jul 5, 2009 12:42pm Jul 5, 2009 12:42pm
Quoting Alihuzaifa
regulation is required to save people from scams.

LoL. that's not true. regulation prevents law abiding citizens from creating and continuing business. regulation does nothing to save people from scams. Repercussions for that kind of actions is what prevents people from scams.

Regulation does nothing but hurt legitimate business. Prime example is the state of the economy. Over-regulation was the cause. If congress wouldn't have pushed for banks to give risky loans, and then provided a haven to unload them...*cough* freddy and fannie *cough*...we wouldn't have gotten into this mess in the first place.
  • #6
  • Jul 5, 2009 2:01pm Jul 5, 2009 2:01pm
"You've probably already heard about the new NFA rule that will restrict
hedging and limits the ability of a broker to retroactively amend trades.
There was one small part that got overlooked that could have an even bigger impact, especially on those who trade with MT4. Get the details here..."

http://www.forexpeacearmy.com/forex-...y-mt4-usa.html
  • #7
  • Jul 5, 2009 2:29pm Jul 5, 2009 2:29pm
Why not simply ignore these half-baked "regulations"?

The law of the US stops precisely 12 miles beyond the beach at Cape Hatteras. Just open an account in London (like I have) and get on with it.

Believe it or not, the UK is on the ITAR list of "uncooperative tax havens"!!! What a FANTASTIC feather in the cap of good ole' England!

No wonder all the Russian billionaires live in London. The UK has one of the laxest tax regimes in the world yet is perfectly stable.

Just move the damned account "offshore" and screw Uncle Sam!
  • #8
  • Jul 5, 2009 2:47pm Jul 5, 2009 2:47pm
I believe the NFA are going to make it very difficult for US citizens to use foreign/offshore forex brokers by making their tax returns much more complicated and also increasing their tax liability in consultation with the IRS.
  • #9
  • Last Post: Jul 8, 2009 8:57am Jul 8, 2009 8:57am
Quoting Codebreaker
Why not simply ignore these half-baked "regulations"?

The law of the US stops precisely 12 miles beyond the beach at Cape Hatteras. Just open an account in London (like I have) and get on with it.

Believe it or not, the UK is on the ITAR list of "uncooperative tax havens"!!! What a FANTASTIC feather in the cap of good ole' England!

No wonder all the Russian billionaires live in London. The UK has one of the laxest tax regimes in the world yet is perfectly stable.

Just move the damned account "offshore" and screw Uncle Sam!
Yeah, but the only way to withdraw funds from UK for some brokers is by bank wire, so there would be a record of money coming in to your US bank account...hint...hint...hint...if they would offer withdrawal through Paypal, and if you have a Paypal debit card, you can withdraw cash.....that would be somthing to think about. LOL.
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