Comment Text:
i0-001
COMMENT
CL-06017
From:
Sent:
To:
Subject:
fuj [email protected]
Thursday, March 4, 2010 1:39 PM
secretary
Regulation of Retail Forex
To Whom It May Concern:
With your New proposal new leverage 10:1 in the Forex retail market its just the theory of
President Omaba Robin Hood theory, by punishing the rich, protecting the poor to create job
grow. Reason why for it, as Forex retail trader like me, I tread the Forex trading like running
a small business, its about control and operate the cost of doing BUSINESS, if you re-strict the
leverage from 100:1 to 10:1, its exactly punishing the business people like us, and its exactly
the Robin Hood theory. With the current 100:1 leverage, the cost of doing Business is still in
control, but with the new leverage 10:1 it is adding a load of huge cost for me to do business
which with my current situation I can allow to have 10k to run my Business, if the new law in
effect, it mean I have to pour in another 90k, or else, I either move my account to out side the
US, then it is not under the CFTC monitor, also a lot of these crook out there waiting your new
law in effect so they can slowly swallow in all these fish floating out to there mouse from US.
Would I be one of those fish, I would not, I would rather shut my business down to find another
job or try to join the unemployment troop. As President keep address the public by saying
JOB...JOB...JOB??? I don't see any job will create with his Robin Hood theory, I only see in
this Forex situation, many traders out there either shut their business or move out side of the
US, then it will trigger every broker firm have to shrink the size or shut it down, with this kind of
domino effect, it can trigger million of white collar job lost in US. with million white collar job
loss, would you think the retail sector business will pick up the strength, and would you think
the local Government in every region will generate more tax revenue to help them ease their
debt deficit, the list can goes on, and let's ask President, where is the
JOBBBBBBBBBBBBBBBBBBBBBBB.
And is our economy going to recover form this Financial crisis that our Nation have been faced
it. We don't know, I think only he can answer this QUESTION?????????????.
God Bless!
Retail Forex Trader.
