Categories



TheLibertyMill




The Phaserl








AvatarProducts

Taxing Financial Transactions – Why Did Interest Rates hit 200% in 1899

from Armstrong Economics:

The European idea of taxing financial transactions is nothing new. The EU aims to tax financial institutions a minimum of 0.1% on purchases of shares, bonds and other securities, and a minimum of 0.01% on the notional amount of derivatives traded either on- or off-exchange. Historical evidence indicates that this will discourage foreign investment while increasing volatility and reducing liquidity. Our research has actually been confirmed by a recent Bank of Canada report went through a litany of cases, including a tax imposed by New York state from 1905 to 1981 and a Swedish tax imposed in 1984, and found that all seem to have raised volatility and reduced liquidity.

.In the US, during 1863, Congress imposed a 0.5% tax on speculative trades in gold, which was toughened up one year later in an attempt to keep the price of gold from exploding during the civil war with the introduction of paper currency. Like India today, the US was out to try to stop the rise in the value of gold. In response, gold immediately went from $198 to $250 in terms of greenbacks, which absolutely humiliated Congress forcing them to repealing the law just two weeks later.

Read More @ ArmstrongEconomics.org

Help us spread the ANTIDOTE to corporate propaganda.

Please follow SGT Report on Twitter & help share the message.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>