Michael Spencer’s Thoughts on the Drachma and Taxation
Michael Spencer is the CEO of ICAP and someone whose business judgement I respect. He’s also a man with strong Suffolk connections, which is always a plus point.
An article with the headline of “Spencer ready for return of drachma”, sums up his view on what to do, if or when Greece falls out of the euro.
He s also very forthright on what would happen if the financial transaction tax is imposed on the City.
After reading the article though, I suspect it will never be levied, as everybody has too much to lose. Except of course countries like Dubai, who’d laugh all the way to the bank, if it was implemented in substantial parts of the world.
One thing I like about Mr. Spencer, is that his company does its bit for charity. Here’s their page.
If you can get a copy of the article, read it!
If you look at ICAP’s major competitors, they are either in London or based in the United States. Not one is based on German or French soil. So if the European Union brought in a unilateral transaction zone and the UK didn’t levy it, they’d raise precisely zilch. Would banks like Deutsche Bank do their business in Frankfurt, when they could do it cheaper in New York? Of course they would!
Anthony S. Holmes
I have received lots of spam from this guy. All of it was stopped by my ClamWin spam filter and ended up in the Junk Mail folder. But then it was so obviously spam, even a four-year-old could identify it as such.
There was a link to the BBC’s web page. It is from 2006 and talks about a Treasury plan to raid dormant bank accounts, which seems to have died with Gordon Brown’s government.
This was the main part of the message.
Good afternoon to you,
I am sorry for bothering you this early day, but bear it mind that you can never regret this day as I have an interesting profitable business offer for you to participate and share money with me.
Please read more on the under stated link
The English isn’t good too. I like the bit about good afternoon and then apologising for being early in the day.
This man won’t get very far in his career as a spammer. I can’t even work out how they get your money.
Clearing Spam Out of My Blog
Every morning I clear out the spam from this blog. As none of it gets through the spam filter used by WordPress, I do wonder why they bother.
I suspect it must be automatic. But even if it is is, surely programmers have better things to do than create spam. One today, judging by the e-mail address was probably racist, so that in itself says a lot.
But as none gets through, it is a very pointless exercise. It doesn’t even annoy me much, as it takes just two clicks to consign it all to cyber-oblivion.
I suspect my act of deleting them too, is noted by WordPress, who add the sender to their banned list. I won’t say the spammers can’t win, but their chances are getting slimmer by the day. Which is all very good!
The Anonymous Widower 