Investment Speculation Quotes
Keynes was suggesting a small transfer tax on securities and other financial instruments. For investors, such a tax would not be a significant burden, but it would discourage pure speculation. Generally every one likes that idea except the speculators. They in turn, play off one nation or jurisdiction against the others by threatening to take their stock and bond markets to other nations which do not have such a tax. That has worked for almost a century in avoiding such a tax in the United States which is the center for both world investment and speculation.