From: "Perry E. Metzger" <pmetzger@lehman.com>
Date: Fri, 13 Aug 93 11:58:32 PDT
To: Duncan Frissell <frissell@panix.com>
Subject: Re: Making the World Safe for
In-Reply-To: <199308131603.AA27038@panix.com>
Message-ID: <9308131853.AA13780@snark.lehman.com>
MIME-Version: 1.0
Content-Type: text/plain



Duncan Frissell says:
> Hal, the point is that the government actions you fear are politically 
> unlikely and would be limited to one nation in any case.  Par example - 
> humorous letter to the editor in today's NYT from someone I'll call 
> "Clueless in New Jersey."  He promotes the idea of a 1% tax on the markets 
> for currencies and derivatives (because they are volitile, unproductive 
> and hurt governments).  Even before the passage of such a tax, the 
> currency traders would have relocated themselves (physically or virtually) 
> to an untaxed location.  

Indeed, virtually all Swedish stocks are now traded in London for much
the same reason.

Perry Metzger