Author: Paul Ferris
“Every kind of financial instrument is being created to lure individuals into believing they are investing when they are really speculating,” (CHAPTER 5: ALL CHANGE PG 160). Follow the dealers and shakers from America to Japan as they compete for client’s business and attempt to boost profits in a very competitive world. Nomura Securities in Japan sells bonds to their clients because they are safe and tax free up to $25,000. Hong Kong is able to attract capital because there are no exchange controls. The interest on deposits of foreign currency at licensed banks is paid tax - free. The SEC made the market a more level playing field by abolishing fixed commissions on May 1st of 1975. The rise of Eurobonds have been made popular simply because the interest is paid without the deduction of tax. The players of the banking world are tracked as they travel the globe in search of funding new ventures.