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Even as its proposed, it seems to be a deal breaker, unless a bank chooses to do no US business in the long run. Very bad for everybody... this uigea has the potential to shape international banking protocal for generations, and if we follow the money, we find the motive.
Banks that conform to the imagined purpose of the law (enforce wire act '61) would still be vulnerable under some letter or dojfux intent of the 'law' and all it would take is a little pressure for them to buckle to whatever squiggly policy the actors in place wanted to enforce.
Bad Law, bad proposed policy.
Any transaction not 'condoned' by whatever (as yet created 'tsar') could create fear and discontent among all international banking partners of the US markets, and the dollar could go on a rollercoaster.
Follow the money... by the time we see the result of the uigea, we could be in for a very nasty surprise. There is something far more sinister than my or your bets at play here in my opinion.
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