Back in December, when regulators in Japan were debating whether to smash Japan’s 25:1 forex leverage limit down to 10:1, I wrote this rant in the Going Offshore thread –
Surprisingly, the Japanese regulators have relented, and have decided to keep the 25:1 leverage limit. Here’s an article in Finance Magnates –
Japanese forex traders already have one foot nailed to the floor in the form of the 25:1 leverage limit. Now I suppose they’re expected to thank their regulator for not nailing their other foot to the floor.
The nanny mentality seems to be part of the Japanese psyche. It may be that Japan has more control-freaks per capita than any other nation on earth. And they’re not all in the government.
The world’s largest forex broker, Japan’s GMO Click, does a pretty good impression of a nanny, as well. GMO (which does not stand for genetically modified organism, by the way) has decided that elderly clients cannot be trusted with forex trading, no matter how severely leverage might be restricted.
Elderly Japanese traders age 81 and older are being expelled from GMO Click (and presumably are being directed to the nearest assisted-living facility). You can read about it here –
The Nanny Agenda is firmly in control in the U.S. and in Europe. And now we see that it’s still firmly in control in Japan, as well.
The Nanny Motto:
You are not competent to handle your own affairs, or make your own decisions.
But, do not despair. We are your Nannies, and we are here to run your life for you.