Nobody disputes the idea that financial transactions need to be monitored.

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For more than a decade, forum-goers have been pushing the idea of the Tobin Tax - a tax on international currency transactions.

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Large numbers of people have convinced themselves that a Financial Transactions Tax (FTT) would be a really very good idea indeed.

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Orthodox thinking regarding yuan internationalization (the yuan is the base unit of the renminbi) revolves around the idea that if it is to occur, the yuan will become globalized through Hong Kong-based transactions.

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The investment bankers had clearly lost basic rationality given the transactions they were constructing, which any way you look at it turned out to be a terrible idea for just about everyone in the world except billionaire hedge fund manager John Paulson.

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Microsoft founder Bill Gates on Friday backed a controversial financial transactions tax to aid development in poor countries but France acknowledged that most G20 countries did not like the idea.

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