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Posts Tagged ‘politics’

The Constitutional Case For Legal Sports Betting

June 20th, 2010

Though legal sports betting is prohibited in the US by Federal law, there has been in recent years a re-examination of its logic on a variety of levels. Part of this is a desire for new revenue sources, while part is simply a growing acceptance of gambling in all forms. Ultimately, the true injustice of banning sports betting lies in its contempt for the Constitution.

The Congress of the United States has shown very little respect for the Constitution in recent years. Were it to abide strictly by the role outlined for it by the founding fathers, the Legislative Branch of our government would have to relinquish any number of its powers in a variety of areas. The primary problem with our Congress is that it has increasingly become a collection of career politicians rather than a body representative of its constituency. Every increase in power at the Federal level must be brought about by a usurpation of state and local sovereignty and, more alarmingly, personal liberty.

The Federal prohibition of sports wagering which was enacted a few years back is of very dubious Constitutionality. Were it not for the grandfather clause, which allowed it to remain legal in jurisdictions in which it already existed, it would have certainly been struck down as unconstitutional on a number of different fronts. Ironically, the gambling industry supported this bill in the pre-Internet era.

Unfortunately, the mere fact that a proposed law or initiative is unconstitutional offers little protection for the citizenry. In fact, the concept of state sovereignty is one of the most important–and most abused–in the Constitution:

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

In other words, unless the power in question has been expressly given to the Federal government by the Constitution, and/or unless it has expressly been prohibited to the states (as in the case of treaty making) it is the right of each individual state to govern themselves as they see fit. If an individual state chooses not to regulate a certain activity, it is the right of each individual citizen to make their own decision. That was the overriding concern of the writers and framers of the Constitution”that the personal liberty of the individual not be violated by a too-powerful central government.

So, here exactly does the Constitution delegate to the Federal government the right to make policy on sports gambling? The answer is that it doesnt, and it is very questionable that they have the Constitutional authority to do so.

The entire premise of a social contract between a government and the governed is that individuals give up a certain degree of personal liberty for a certain degree of protection. The problem is that too many Americans are willing to give up just about any freedom for even the illusory promise of protection. With each additional law intended to protect us from this or that the Federal government becomes larger and more powerful and the rights of the sovereign states”and the individuals that comprise them”are shrinking and being weakened.

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Important Information On Forex Trading Systems

April 13th, 2010

The Forex is a trading system for international currencies, similar to every country’s stock exchange system. However, the main distinction is that the Forex is massive when compared to any stock exchange. In fact, it is enormous compared to all the stock exchanges in the world combined. The Forex is bigger than all the world’s stock exchanges together, turning over more than 2 trillion dollars a day, every day.

If you open a Forex account with a good Forex trading account provider - a broker - the firm will provide you with reports on what is happening in the international currency markets. Some provide this information free of charge, other firms make a charge. The state of affairs is similar with regard to trading overheads.

Some Forex trading companies charge a fee per trade and others charge a spread or a percentage. You will have to work out which system is best for you. This is equally true of the minimum trading amount. Some firms allow a minimum trade of $100 others $1,000.

You also have to check how long your trade is valid for at minimum. Some companies insist on a 30 day minimum others demand a 48 hour minimum turn-around. If you go with a long trading period, you will not be able to take advantage of very short term swings, which is similar to day trading on the stock exchange. Day trading is not recommended by experts, because it is very risky, although it can provide good short term profits.

You can trade Forex on line or and off line, it makes no significant difference except that on line dealing is usually faster and cheaper. These are benefits, but the mechanics of the trade are basically the same. Being able to trade on line also means that you can trade from anywhere that there is an Internet access point anyplace in the world, which is cheaper than phoning your order through to your broker while you are on vacation.

Most online Forex trading systems or platforms will be ‘execution only’ services. This indicates that they will carry out your instructions, but will not offer any advice whatsoever. You can opt to work with an adviser from the brokerage firm, but that usually costs a great deal more and can slow things down too.

Whether you work with an adviser or not you will have to find a Forex broker that you can trust. If you are taking advice, you have to believe that your adviser knows much more than you do or else there is no advantage. However, the advice you will be given will probably be the Forex industry’s standard point of view. Do not expect it to be revolutionary or trend-bucking. They are not going to go out on a limb for you, in case you take legal action, although they may have put get out clauses in the agreement anyway.

However, even if you are on execution only, you will still want to work with a Forex trading company that you feel you can trust to carry out your instructions in a timely manner. If you work out and believe that right now is the time to sell the dollar against the pound, you want to trade right now and not in four hours time when the exactly right entry window has slipped past.

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