Please kindly understand you Do Not know what's good for me, re my investment strategies and/or my utilizing leveraged derivatives for essential short term trading income.
I do not need nanny-state "testing" to demonstrate my already evident knowledge. I have already passed a far more difficult multi-decade "exam" -- i.e., my historic success in this pursuit despite continually evolving market environments.
My general intelligence measures Well Above Average -- almost certainly higher than yours (no offense intended, just a measurable Fact). My polymath academic credits surpass those of a specialist PhD by more than 50% re credit hours. If anything, you ought to be regulating that =I= tell =You= how to live. I've =no= doubt I'd be better at that than You telling Me.
But I don't expect you'd like that. No surprise, then, that I'm not fond of the arrogant notion that =You= should regulate =Me= for my own good. =Nonsense.=
[Maybe before we give You regulatory power over Me we ought to test You for the substantially higher than average IQ you'd need to plausibly be able to do that well, re me? Of course, if you =had= that IQ, you'd be doing better than aging in a sinecure government position, I expect. So, never mind and waste no testing time re that notion, I suppose.]
I value my general success at having as little as practical to do w/the dictates of the "Dunning-Kruger effect"-afflicted who mean so well but cannot (ever) fathom the harm they truly do. Sigh.
I am retired, arguably disabled, but living well and paying cash-cow tax while living off four income streams, one of which is now threatened by this nanny-state power play.
My use of leveraged and inverse funds is essential to my derivative trading income pursuit which (currently) accounts for about 42% of my practical income. That monthly income derives from gains I realize on a limited Base Stake. In stable markets, the leverage allows me to amplify realized gains I use for monthly Draws =and= to build essential Draw Reserve Cash occasionally required for those months when lucrative trades are more difficult to achieve. In very good year-ends (which are kinda rare) I reward myself w/a conservative bonus (to the delight of my local economy).
The inverse funds allow me to reap maintenance gains during otherwise penurious volatile times (times generally created by nanny-state misplays, BTW). Without the inverse funds, my Cash reserves (built in stable times) would (in volatile times) be strained too much and in the upshot would =certainly= reduce my income, spending and cash-cow tax flows to You.
So, don't do this (to me or) to yourself, hmm?
IMO and generally speaking, regulation is created by those of shorter vision as a blight upon those (of longer vision) who generate the wealth, spending and tax flows required to keep the nation Strong. I will Never understand how anyone who has honestly sworn to act for the good of the Nation can in good conscience play any role in the formulation or application of regulation. (I would personally be ashamed of myself for ever being in such a role.)
In every instance, the only discernible true motivation for regulation is power-hunger, vote-baiting and graft.
Human nature being what it is, the power-hunger never fades -- just try to see (as I do) how regulation cripples National wealth and tax income. Which would You prefer: feeling power, or realizing higher tax flows owing to greater wealth creation? Distribute that higher tax flow as you see fit and enjoy the power of that, I suggest.
Re the vote-baiting, given the dead-obvious broad-daylight thefts of the 1960 and 2020 elections in my lifetime, why even bother w/vote-baiting? It's not about who votes. It's only about who counts the vote.
Re the graft, the opportunity seen and taken by a regulator is understandably difficult to resist and I can offer no argument against other than the health benefit of a clean conscience.
The way out of a slide into totalitarianism is not one party defeating another that merely re-brands and continues the slide. An individual is not a sub-element of society: society is a macrocosm of all individuals. Each individual is so powerful that any single one can stand up in the gravity well of a tyranny and win.
So, if You cannot personally do anything to prevent this errant regulation from happening, please consider repurposing Your life to something (anything) more conducive to bettering your nation. Being a promulgator of regulation =ought= to make You feel physically ill.
If not, then, until the penny finally drops for you, may You and yours be treated in all ways and for all time as well as (and no better) than You treat those whom you regulate. Amen.
I truly hope your penny drops before you sink so deep as that.
I could write much more, but who has that kind of time? Your acts have already robbed me (and you) of hours I may have been productively producing taxable income and/or taxable spending in the economy.
In sum, if you are at all in favor of this citizen's well-being, please find something else to do and just leave me alone?
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Wayne Hadady Comment On Regulatory Notice 22-08
Please kindly understand you Do Not know what's good for me, re my investment strategies and/or my utilizing leveraged derivatives for essential short term trading income.
I do not need nanny-state "testing" to demonstrate my already evident knowledge. I have already passed a far more difficult multi-decade "exam" -- i.e., my historic success in this pursuit despite continually evolving market environments.
My general intelligence measures Well Above Average -- almost certainly higher than yours (no offense intended, just a measurable Fact). My polymath academic credits surpass those of a specialist PhD by more than 50% re credit hours. If anything, you ought to be regulating that =I= tell =You= how to live. I've =no= doubt I'd be better at that than You telling Me.
But I don't expect you'd like that. No surprise, then, that I'm not fond of the arrogant notion that =You= should regulate =Me= for my own good. =Nonsense.=
[Maybe before we give You regulatory power over Me we ought to test You for the substantially higher than average IQ you'd need to plausibly be able to do that well, re me? Of course, if you =had= that IQ, you'd be doing better than aging in a sinecure government position, I expect. So, never mind and waste no testing time re that notion, I suppose.]
I value my general success at having as little as practical to do w/the dictates of the "Dunning-Kruger effect"-afflicted who mean so well but cannot (ever) fathom the harm they truly do. Sigh.
I am retired, arguably disabled, but living well and paying cash-cow tax while living off four income streams, one of which is now threatened by this nanny-state power play.
My use of leveraged and inverse funds is essential to my derivative trading income pursuit which (currently) accounts for about 42% of my practical income. That monthly income derives from gains I realize on a limited Base Stake. In stable markets, the leverage allows me to amplify realized gains I use for monthly Draws =and= to build essential Draw Reserve Cash occasionally required for those months when lucrative trades are more difficult to achieve. In very good year-ends (which are kinda rare) I reward myself w/a conservative bonus (to the delight of my local economy).
The inverse funds allow me to reap maintenance gains during otherwise penurious volatile times (times generally created by nanny-state misplays, BTW). Without the inverse funds, my Cash reserves (built in stable times) would (in volatile times) be strained too much and in the upshot would =certainly= reduce my income, spending and cash-cow tax flows to You.
So, don't do this (to me or) to yourself, hmm?
IMO and generally speaking, regulation is created by those of shorter vision as a blight upon those (of longer vision) who generate the wealth, spending and tax flows required to keep the nation Strong. I will Never understand how anyone who has honestly sworn to act for the good of the Nation can in good conscience play any role in the formulation or application of regulation. (I would personally be ashamed of myself for ever being in such a role.)
In every instance, the only discernible true motivation for regulation is power-hunger, vote-baiting and graft.
Human nature being what it is, the power-hunger never fades -- just try to see (as I do) how regulation cripples National wealth and tax income. Which would You prefer: feeling power, or realizing higher tax flows owing to greater wealth creation? Distribute that higher tax flow as you see fit and enjoy the power of that, I suggest.
Re the vote-baiting, given the dead-obvious broad-daylight thefts of the 1960 and 2020 elections in my lifetime, why even bother w/vote-baiting? It's not about who votes. It's only about who counts the vote.
Re the graft, the opportunity seen and taken by a regulator is understandably difficult to resist and I can offer no argument against other than the health benefit of a clean conscience.
The way out of a slide into totalitarianism is not one party defeating another that merely re-brands and continues the slide. An individual is not a sub-element of society: society is a macrocosm of all individuals. Each individual is so powerful that any single one can stand up in the gravity well of a tyranny and win.
So, if You cannot personally do anything to prevent this errant regulation from happening, please consider repurposing Your life to something (anything) more conducive to bettering your nation. Being a promulgator of regulation =ought= to make You feel physically ill.
If not, then, until the penny finally drops for you, may You and yours be treated in all ways and for all time as well as (and no better) than You treat those whom you regulate. Amen.
I truly hope your penny drops before you sink so deep as that.
I could write much more, but who has that kind of time? Your acts have already robbed me (and you) of hours I may have been productively producing taxable income and/or taxable spending in the economy.
In sum, if you are at all in favor of this citizen's well-being, please find something else to do and just leave me alone?
Thank You.