Biz, they can't. The most basic freedom of them all is denied US citizens. Unless the US government agrees US citizens can't give up their citizenship. Only country in the world where you can't.
Best way forward for them is offshore companies or trust funds in offshore jurisdictions. Expensive. Bout $5000 US a pop.
Getting very difficult for them and these new rules will close retail fx to them. They'll have to start trading options on fx on the CME which is off course the goal here.
US is closing the retail fx industry. No doubt about it. Whatever their stated goals are.
Considering the amount of time, effort and money it takes to learn to do this, if I was a US citizen I'd sue the CFTC for taking away my ability to earn a living and future income. 20 years of compound growth!
Elkart posted: Considering the amount of time, effort and money it takes to learn to do this, if I was a US citizen I'd sue the CFTC for taking away my ability to earn a living and future income. 20 years of compound growth!
Under the circumstances, some will probably will.
I wonder if other countries will follow? After all, the entire world's economy was affected last year, and limiting your exposure to the markets is actually a good idea to minimize risk (Yeah, I know it's basic money management 😄).
By decreasing the leverage the USD should become less volatile. This is good because then the USD will be much more stable. What do you prefer - to have non-volatile or volatile world currency? Obama is trying to save the status of USD like world currency...
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