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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: X Y Zebra who wrote (3293)	3/19/2002 11:01:27 AM
From: SofaSpud	Read Replies (2) of 3536

If they're talking only about the Tobin tax, why do you think they couldn't do it? The Tobin tax is a percentage on each foreign exchange transaction. If memory serves, something in excess of 50% of the world's FX transactions go through New York, and a significant fraction of the remainder through London. If you get the national authorities on side in the U.S. and U.K., bingo, the U.N. is on easy street forever more. Not complicated at all. Scary as hell, yes. The U.N. is one of the very few organizations around that makes the Canadian government look enlightened and efficient. Be very afraid.

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