Guys, Just reading through these letters, and there are some really great ones here, James and PipBuster especially. I have no idea what the CFTC will decide, but it dosent look good. Just the idea that they're proposing this shows their intent.
This wont really have as much of an effect on us as traders as it will on the smaller US brokerages. We all have the ability to switch our accounts at any time, and most of the large brokers have already made the neccessary arrangements.
? Do you really think this was proposed to protect the inexperienced Forex trader? Or to control the brokerage industry, and squeeze out the small brokers?
They know we can move to offshore brokers, and already are. I propose that this has little to do with us, and is all about control of the industry and elimination of the little brokers. Just a little more of the usual US Christian Conservative Controls. They still think they own and run this country, and can control the peoples minds and actions.
Further, I suspect they dont really want us making money in this manner. They would really like to limit the entire trading business to a select few of the high end money managers and investment banks they're pals with (GS), and keep the rest of the population "barefoot and broke" so to speak, working for employers, providing services and products that they value, and can profit from. |