Comment Text:
i0-001
COMMENT
CL-07485
From:
Sent:
To:
Cc:
Subject:
redltdl
Sunday, March 14, 2010 2:09 PM
secretary
[email protected]
Re: 'Regulation of Retail Forex'
Gentlemen,
If your intention, through RIN 3038-AC61, is to limit the funding that is available for capture, from those venturing
into the Forex market, this would be a well founded plan. If your intention is to limit the funding availability for
Trading Houses to apply to the Forex Market then your limitation would definitely manifest that effect. If your
intention is to limit the potential for gain, in the public sector (small private investors) you will succeed. If the
intention is to drive more accounts into other countries, again, you will succeed beyond your wildest dreams. If the
intention is to try to consolidate those minor, but growing, leaks from the Corporate profit avenues, you will fail
miserably - accounts driven overseas bring no financial gain back into America (if you have to derive the gain in
another country there is very little reason to bring that gain back into the place where you were denied access to
it).
Of course, the converse also applies. For the many small investors in this market, who are successfully guided
into the loss of their investments via 'panic' statements, you will also drive that source of funding overseas
(because we will not stop trying to gain from the Forex market) which puts it into the class of a foreign investment
- only there will be no available return into the USA's coffers.
Either way, as it is your choice (and apparently driven by decisions/requests from the 'greedier', poorly controlled,
section of yourselves and the other controlling bodies), you will obviously do what you want. As of now, I have not
invested more than simple seed money into the Forex market in order to learn more of the pitfalls (which seem to
be centered within the controlling legal bodies of the industry), but when I do invest further into Forex it is liable to
be through a foreign source to totally exclude the USA from the available gains from that investment.
If you proceed with lowering the leverage ration to 10:1 then you will certainly remove a very large amount of
available investment from the American investing population.
Dennis A. McDonnell
