Comment Text:
i0-001
COMMENT
CL-03911
From:
Sent:
To:
Subject:
[email protected]
Monday, January 25, 2010 8:44 PM
secretary
Regulation of Retail Forex
To: Secretary of the Commission Commodity Futures Trading Commission
When is the government going to learn it is a World Marketplace? For example, when Congress put a big
excise tax on new yachts made in the United States, the boat buyers said, "We're not going to pay that tax. We'll
buy our boats from another country." Then they did precisely that. America lost the sales.
All the American boat builders that couldn't compete went out of business. That caused the loss of American
jobs. Now the government has to pay unemployment to the out of work boat builders. Also, the government can
not collect income taxes from people without jobs. It's a double negative against our economy.
If you change the leverage control on our Forex trading platform to the point that we retail traders can no longer
trade domestically, we will move our accounts to another country where we can. Then the countries with the
friendly Retail Forex trading policies will be the ones making the profits. The U.S. banks that currently offer Retail
Forex trading will all lose money. If I am willing to do this, as small and insignificant as my beginning account is,
how long before the big traders jump ship and find friendlier waters?
If you pass this legislation changing our leverage to 10:1 expect to hear a loud sucking sound from the exiting
traders pulling their money. Please learn from the past mistakes of others and leave well enough alone.
Sincerely,
Roland Hearn
