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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (91766)	12/3/2009 1:22:48 PM
From: Follies	2 Recommendations Read Replies (1) \| Respond to of 94695

I think gold and stocks may be beginning to decouple. I could see a drop in the market now driving the gold market higher as that money will need to go somewhere.

To: GROUND ZERO™ who wrote (91766)	12/3/2009 2:23:05 PM
From: fred woodall	Read Replies (1) \| Respond to of 94695

Democratic Lawmakers Unveil Financial Transaction Tax Bill -------------------------------------------------------------------------------- Thu Dec 03 14:19:47 2009 EST By Corey Boles Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Democratic lawmakers Thursday introduced legislation that would levy a tax on financial transactions by most large U.S. banks and other financial institutions. But the bill has little immediate chance of success as House Speaker Nancy Pelosi (D., Calif.) ruled out using the tax to offset the cost of a job-creation package that lawmakers are currently piecing together. Pelosi said the concept of the tax had some validity but would have to be implemented jointly by several different countries. Legislation that would seek to create the tax was introduced by Rep. Peter DeFazio (D., Ore.) on Thursday. It would charge the tax at different rates depending on whether a transaction involves stocks, futures, swaps or other options. It would exempt pension funds, mutual funds, education and health savings accounts. The first $100,000 of transactions annually would also be exempted. Sen. Tom Harkin (D., Iowa) plans to introduce similar legislation next week. Democratic lawmakers painted the measure as a way to help create jobs, saying half the estimated $150 billion raised each year would be used to fund job creation. The remaining $75 billion would be used to pay down the federal government's budget deficit. Financial industry groups didn't wait long to oppose the measure. The Securities Industry and Financial Markets Association said it would be "the wrong policy at the wrong time." The group said it could undermine the tentative economic recovery under way in the U.S. Labor unions, on the other hand, applauded the idea. "A financial transactions tax encourages long-term investment horizons and discourages churning, high-frequency trading and other speculative capital market activity," said Richard Trumka, president of the AFL-CIO.