Cyprus-Forum.com

[Robin Hood]

Another Quora question answered!

Milti .... this is to brighten your day as the € almost hit £1.19 to the £ today. The Guardian article is interesting ...... a real eye opener!

Almost as much money is traded (gambled) every day in the London currency markets, as the total annual GDP of the UK ........ and that’s just the London markets. Say the average change shows a profit of just 0.1% in the overall currency markets, that is a profit of 53,000,000,000 in just one day. Some days they win and some days they lose but overall ..... the market traders win. Think .......... Dell Boy on steroids!

Q: How much volume is traded per day in the Forex market?

It was $5,300,000,000,000 per day in 2013 and has risen every year since!

https://www.quora.com/How-much-volume-is-traded-per-day-in-the-forex-market

The source for the answer: MahiFX Infographic:

To back that claim from a ‘reputable’ source for the unbelievers:

https://www.theguardian.com/commentisfree/2013/nov/20/money-trading-economy-foreign-exchange-markets-economy

[Londonrake]

It's obviously all down to .................... them.

[Robin Hood]

It's obviously all down to .................... them.

No.... its all down to speculators!

[Maximus]

The forex market has an estimated daily turnover of $5 trillion a day.

Yes, your share can be quite substantial on a 1c move, which most major currencies easily do, most days.

Consistently predicting the direction correctly, takes many many many years of study and trading, with real money.

It has to be worth it!

[Londonrake]

It's obviously all down to .................... them.

No.... its all down to speculators!

Ohh, come on. I've been listening to your NWO sermons for 5 years. The speculators are minions. They all work for....................... "them".

[Robin Hood]

The forex market has an estimated daily turnover of $5 trillion a day.

Yes, your share can be quite substantial on a 1c move, which most major currencies easily do, most days.

Consistently predicting the direction correctly, takes many many many years of study and trading, with real money.

It has to be worth it!

The problem I have with it is that it creates no real wealth, it just makes people like Soros richer. It was proposed that a small tax 'Tobin Tax' of a fraction of a percent on trading values, not profits, would reign in the market. The markets made all sorts of threats and it was dropped. When you or I buy or sell we pay VAT on the value of the transaction, why should there not be some sort of tax on this sort of trading.

[Maximus]

It is taxed if and when you declare your earnings.

It would be taxed in the same manner as any other sole trader who trades cars or art, for example. Did you make this much this year buying and selling cars. Mr RH? OK, so you owe HMRC this much sir....

Of course it depends on your perspective, but a car dealer doesn't create wealth but he can become wealthy. Neither does a video games trader or some other household eletrical retailer but they could become wealthy.

Trading as an activity does not create wealth for anyone else except (potentially) the trader.

Its like saying, a customer support rep does not create wealth. Of course, its a job.

[Robin Hood]

Maximus:

It is taxed if and when you declare your earnings.
It would be taxed in the same manner as any other sole trader who trades cars or art, for example. Did you make this much this year buying and selling cars. Mr RH? OK, so you owe HMRC this much sir....

That is tax on income not taxon turnover i.e. such as VAT, Corporation tax etc.

Of course it depends on your perspective, but a car dealer doesn't create wealth but he can become wealthy. Neither does a video games trader or some other household eletrical retailer but they could become wealthy.

A trader starts they day with £1bn on his desk ........ he uses this to buy Euros ..... the £ drops .... and the € rises .......... he sells the €’s and buys more £’s for each € than he sold them for ...... his one billion at the end of the day is now £1.01bn. He has made a 1% profit .... which he banks. The next day .... just the same .... and so on. He is making vast amounts of money but creating no wealth.

The theory is that as he is now so wealthy he spends that into the economy by buying a yacht, a Rolls Royce and a private jet and thus adds to the economy. It is called ‘Trickle down economics’ and has been shown not to work. He puts most of it into assets and that does not add value to the economy.

Trading as an activity does not create wealth for anyone else except (potentially) the trader.

Precisely! Now think what would happen to the trader if the Government introduced a Tobin Tax on his trading activities, like a very low VAT say 0.01% ..... he is effectively out of business and all currencies then stabilise.

Its like saying, a customer support rep does not create wealth. Of course, its a job.

He is a service to the wealth creating chain of events ......... his wealth is his labour. So indirectly he is a wealth creator.

[Maximus]

Robin, this Tobin tax you are talking about would it be on profit or turnover? Why not just ban it if you want to put people out of business?

Why not just peg every currency to every other currency and screw nations over like the euro is doing to the nations that adopted it?

[Robin Hood]

Robin, this Tobin tax you are talking about would it be on profit or turnover? Why not just ban it if you want to put people out of business?

Why not just peg every currency to every other currency and screw nations over like the euro is doing to the nations that adopted it?

It's a great idea and, until the last couple of decades or so, speculators were not that much of a problem.

The speculators were quite a minor cause of the currency fluctuations but now most of the fluctuations are caused by 'traders', in fact not even traders ...... it is mostly down to computers and algorithm's. So trading is not quite as I presented it ...... buying and selling is often automatic and the values change thousands of times a second! The trader just enters how much he wants to gamble ...... and a computer then makes the decisions! Quite frightening really ..... but it's the way the world works these days ..... unfortunately for us. d

One reason governments and the big banks are so opposed to Bit Coin as I understand it. They are not subject to quite the same trading pressures as currency and are more stable, a bit like gold but even then the prices can be manipulated.