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<channel>
	<title>My Thoughts On Paper</title>
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	<link>http://www.mythoughtsonpaper.com</link>
	<description></description>
	<lastBuildDate>Sun, 13 Jun 2010 20:45:12 +0000</lastBuildDate>
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		<title>MP3 vs Lossless &#8211; Can you tell the difference, take the test!</title>
		<link>http://www.mythoughtsonpaper.com/2010/06/13/mp3-vs-lossless-can-you-tell-the-difference-take-the-test/</link>
		<comments>http://www.mythoughtsonpaper.com/2010/06/13/mp3-vs-lossless-can-you-tell-the-difference-take-the-test/#comments</comments>
		<pubDate>Sun, 13 Jun 2010 20:41:17 +0000</pubDate>
		<dc:creator>Charlie VB</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Apple]]></category>
		<category><![CDATA[Lossless]]></category>
		<category><![CDATA[mp3]]></category>
		<category><![CDATA[Musicians]]></category>

		<guid isPermaLink="false">http://www.mythoughtsonpaper.com/?p=55</guid>
		<description><![CDATA[Do you think you can tell the difference between a song in .mp3 and a song in Apple Lossless. Well here is your chance to test it out.
Below are two tracks. One of them is a 192kbps mp3 file. The other is a Apple Lossless version of the same exact song.
The results are in white [...]]]></description>
			<content:encoded><![CDATA[<p>Do you think you can tell the difference between a song in .mp3 and a song in Apple Lossless. Well here is your chance to test it out.</p>
<p>Below are two tracks. One of them is a 192kbps mp3 file. The other is a Apple Lossless version of the same exact song.</p>
<p>The results are in white below:</p>
<p>Track 1:</p>
<p><strong><code><object height="81" width="100%"><param name="movie" value="http://player.soundcloud.com/player.swf?url=http%3A%2F%2Fsoundcloud.com%2Fmythoughtsonpaper%2F01-forever-1&amp;g=1&amp;"></param><param name="allowscriptaccess"
value="always"></param><embed allowscriptaccess="always"
height="81" src="http://player.soundcloud.com/player.swf?url=http%3A%2F%2Fsoundcloud.com%2Fmythoughtsonpaper%2F01-forever-1&amp;g=1&amp;"
type="application/x-shockwave-flash" width="100%"> </embed> </object></code></strong></p>
<p>Track 2:</p>
<object height="81" width="100%"><param name="movie" value="http://player.soundcloud.com/player.swf?url=http%3A%2F%2Fsoundcloud.com%2Fmythoughtsonpaper%2F17-forever-1&amp;g=1&amp;"></param><param name="allowscriptaccess"
value="always"></param><embed allowscriptaccess="always"
height="81" src="http://player.soundcloud.com/player.swf?url=http%3A%2F%2Fsoundcloud.com%2Fmythoughtsonpaper%2F17-forever-1&amp;g=1&amp;"
type="application/x-shockwave-flash" width="100%"> </embed> </object>
<p><strong>RESULTS (please highlight the line below this one to see the results):</strong></p>
<p><strong><span style="color: #ffffff;">Track 2 is the Apple Lossless version; 1 is the mp3 version.</span></strong></p>
<p><span style="color: #000000;">Please note; i do not own this song, and intend no copyright infringement.</span></p>
]]></content:encoded>
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		</item>
		<item>
		<title>Flacshare.net: Downloading Lossless/FLAC Music on Rapidshare/Hotfile</title>
		<link>http://www.mythoughtsonpaper.com/2010/06/11/flacshare-net-downloading-losslessflac-music-on-rapidsharehotfile/</link>
		<comments>http://www.mythoughtsonpaper.com/2010/06/11/flacshare-net-downloading-losslessflac-music-on-rapidsharehotfile/#comments</comments>
		<pubDate>Fri, 11 Jun 2010 16:08:27 +0000</pubDate>
		<dc:creator>Charlie VB</dc:creator>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[Apple]]></category>
		<category><![CDATA[FLAC]]></category>
		<category><![CDATA[Flacshare]]></category>
		<category><![CDATA[iTunes]]></category>
		<category><![CDATA[Lossless]]></category>
		<category><![CDATA[rapidshare]]></category>
		<category><![CDATA[XLD]]></category>

		<guid isPermaLink="false">http://www.mythoughtsonpaper.com/?p=49</guid>
		<description><![CDATA[
I recently stumbled across this awesome forum on which people share links for high quality music;
http://flacshare.net/
Check it out!
If you want to add the .flac audio files to iTunes, you will need the following piece of software:
X Lossless Decoder

Simply install, then highlight all the .flac files, and drag&#8217;n'drop them onto the XLD icon, voila, the files are converted to [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/06/IPB.gif"><img class="aligncenter size-full wp-image-53" title="IPB" src="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/06/IPB.gif" alt="" width="500" height="125" /></a></p>
<p>I recently stumbled across this awesome forum on which people share links for high quality music;</p>
<p><a href="http://flacshare.net/">http://flacshare.net/</a></p>
<p>Check it out!</p>
<p>If you want to add the .flac audio files to iTunes, you will need the following piece of software:</p>
<p><a href="http://tmkk.hp.infoseek.co.jp/xld/index_e.html">X Lossless Decoder</a></p>
<p><a href="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/06/xld256.png"><img class="aligncenter size-full wp-image-52" title="xld256" src="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/06/xld256.png" alt="" width="256" height="256" /></a></p>
<p>Simply install, then highlight all the .flac files, and drag&#8217;n'drop them onto the XLD icon, voila, the files are converted to Apple Lossless files which you can then just drag&#8217;n'drop onto iTunes.</p>
<p>Enjoy!</p>
]]></content:encoded>
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		</item>
		<item>
		<title>MacHeist nanoBundle 2</title>
		<link>http://www.mythoughtsonpaper.com/2010/03/04/macheist-nanobundle-2/</link>
		<comments>http://www.mythoughtsonpaper.com/2010/03/04/macheist-nanobundle-2/#comments</comments>
		<pubDate>Thu, 04 Mar 2010 22:13:42 +0000</pubDate>
		<dc:creator>Charlie VB</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Technology]]></category>

		<guid isPermaLink="false">http://www.mythoughtsonpaper.com/2010/03/04/macheist-nanobundle-2/</guid>
		<description><![CDATA[For those mac fan-boys out there; if you havent already seen, check out MacHeist’s awesome bundle. Theyre selling 7 apps for only $20.

]]></description>
			<content:encoded><![CDATA[<p>For those mac fan-boys out there; if you havent already seen, check out <a href="http://www.macheist.com/">MacHeist’s awesome bundle</a>. Theyre selling 7 apps for only $20.</p>
<p><img src="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/03/macheist.jpg" alt="macheist.jpg" width="500" height="213" /></p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Oscar Nominations</title>
		<link>http://www.mythoughtsonpaper.com/2010/02/17/oscar-nominations/</link>
		<comments>http://www.mythoughtsonpaper.com/2010/02/17/oscar-nominations/#comments</comments>
		<pubDate>Wed, 17 Feb 2010 00:04:16 +0000</pubDate>
		<dc:creator>Charlie VB</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[82nd oscars]]></category>
		<category><![CDATA[alec baldwin]]></category>
		<category><![CDATA[oscars]]></category>
		<category><![CDATA[steve martin]]></category>

		<guid isPermaLink="false">http://www.mythoughtsonpaper.com/?p=35</guid>
		<description><![CDATA[
The awards this year will be hosted by Alec Baldwin and Steve Martin; this will be Martin&#8217;s third time hosting the oscars.
Avatar and Hurt Locker top the nominations list with nine each, Inglorious Basterds has eight nominations.
Nominations






Nominations By Films
&#8220;Ajami,&#8221; an Inosan Production (Kino International) (1 nomination)
Best foreign language film (Israel)
&#8220;Avatar,&#8221; a Lightstorm Entertainment Production (20th [...]]]></description>
			<content:encoded><![CDATA[<p><CENTER><img src="http://www.mythoughtsonpaper.com/wp-content/uploads/e25a049c2142776beefe8b5f88d5882a.jpg" alt="" /></CENTER></p>
<p>The awards this year will be hosted by Alec Baldwin and Steve Martin; this will be Martin&#8217;s third time hosting the oscars.</p>
<p>Avatar and Hurt Locker top the nominations list with nine each, Inglorious Basterds has eight nominations.</p>
<p style="text-align: center;"><strong>Nominations</strong></p>
<p><img src="http://www.mythoughtsonpaper.com/wp-content/uploads/oscar1.jpg" alt="" /><br />
<img src="http://www.mythoughtsonpaper.com/wp-content/uploads/oscar2.jpg" alt="" /><br />
<img src="http://www.mythoughtsonpaper.com/wp-content/uploads/oscar3.jpg" alt="" /><br />
<img src="http://www.mythoughtsonpaper.com/wp-content/uploads/oscar4.jpg" alt="" /><br />
<img src="http://www.mythoughtsonpaper.com/wp-content/uploads/oscar5.jpg" alt="" /><br />
<img src="http://www.mythoughtsonpaper.com/wp-content/uploads/oscar6.jpg" alt="" /></p>
<p style="text-align: center;"><strong>Nominations By Films</strong></p>
<p>&#8220;<strong>Ajami</strong>,&#8221; an Inosan Production (Kino International) (1 nomination)<br />
Best foreign language film (Israel)</p>
<p>&#8220;<strong>Avatar</strong>,&#8221; a Lightstorm Entertainment Production (20th Century Fox) (9 nominations)<br />
Art direction<br />
Cinematography<br />
Directing<br />
Film editing<br />
Original score<br />
Best picture<br />
Sound editing<br />
Sound mixing<br />
Visual effects</p>
<p>&#8220;<strong>The Blind Sid</strong><strong>e</strong>,&#8221; an Alcon Entertainment Production (Warner Bros.) (2 nominations)<br />
Sandra Bullock &#8211; Performance by an actress in a leading role<br />
Best picture</p>
<p>&#8220;<strong>Bright Star</strong>,&#8221; a Jan Chapman/Bright Star Films Production (Apparition) (1 nomination)<br />
Costume design</p>
<p>&#8220;<strong>Burma VJ</strong>,&#8221; a Magic Hour Films Production (Oscilloscope Laboratories) (1 nomination)<br />
Documentary feature</p>
<p>&#8220;<strong>Coco before Chane</strong>l,&#8221; a Haut et Court Production (Sony Pictures Classics) (1 nomination)<br />
Costume design</p>
<p>&#8220;<strong>Coraline</strong>,&#8221; a LAIKA Production (Focus Features) (1 nomination)<br />
Best animated feature film</p>
<p>&#8220;<strong>The Cove</strong>,&#8221; an Oceanic Preservation Society Production (Roadside Attractions) (1 nomination)<br />
Documentary feature</p>
<p>&#8220;<strong>Crazy Heart</strong>,&#8221; an Informant Media/Butcher&#8217;s Run Films Production (Fox Searchlight) (3 nominations)<br />
Jeff Bridges &#8211; Performance by an actor in a leading role<br />
Maggie Gyllenhaal &#8211; Performance by an actress in a supporting role<br />
Original song &#8211; &#8220;The Weary Kind (Theme from Crazy Heart)&#8221;</p>
<p>&#8220;<strong>District 9</strong>,&#8221; a Block/Hanson Production (Sony Pictures Releasing) (4 nominations)<br />
Film editing<br />
Best picture<br />
Visual effects<br />
Adapted screenplay</p>
<p>&#8220;<strong>An Education</strong>,&#8221; a Finola Dwyer/Wildgaze Films Production (Sony Pictures Classics) (3 nominations)<br />
Carey Mulligan &#8211; Performance by an actress in a leading role<br />
Best picture<br />
Adapted screenplay</p>
<p>&#8220;<strong>El Secreto de Sus Ojos</strong>,&#8221; a Haddock Films Production (Sony Pictures Classics) (1 nomination)<br />
Best foreign language film (Argentina)</p>
<p>&#8220;<strong>Fantastic Mr. Fox</strong>,&#8221; an American Empirical Production (20th Century Fox) (2 nominations)<br />
Best animated feature film<br />
Original score</p>
<p>&#8220;<strong>Food, Inc</strong>.,&#8221; a Robert Kenner Films Production (Magnolia Pictures) (1 nomination)<br />
Documentary feature</p>
<p>&#8220;<strong>Harry Potter and the Half-Blood Prince</strong>,&#8221; a Warner Bros. Production (Warner Bros.) (1 nomination)<br />
Cinematography</p>
<p>&#8220;<strong>The Hurt Locker</strong>,&#8221; a Voltage Pictures Production (Summit Entertainment) (9 nominations)<br />
Jeremy Renner &#8211; Performance by an actor in a leading role<br />
Cinematography<br />
Directing<br />
Film editing<br />
Original score<br />
Best picture<br />
Sound editing<br />
Sound mixing<br />
Original screenplay</p>
<p>&#8220;<strong>Il Divo</strong>,&#8221; an Indigo Film/Lucky Red/Parco Film/Babe Films Production (MPI Media Group through Music Box) (1 nomination)<br />
Makeup</p>
<p>&#8220;<strong>The Imaginarium of Doctor Parnassus</strong>,&#8221; a Poo Poo Pictures Production (Sony Pictures Classics) (2 nominations)<br />
Art direction<br />
Costume design</p>
<p>&#8220;<strong>In the Loop</strong>,&#8221; a Loop Film/BBC Films and UK Film Council in association with Aramid Entertainment Production (IFC Films) (1 nomination)<br />
Adapted screenplay</p>
<p>&#8220;<strong>Inglourious Basterds</strong>,&#8221; a Weinstein Company/Universal Pictures/A Band Apart/Zehnte Babelsberg Production (The Weinstein Company) (8 nominations)<br />
Christoph Waltz &#8211; Performance by an actor in a supporting role<br />
Cinematography<br />
Directing<br />
Film editing<br />
Best picture<br />
Sound editing<br />
Sound mixing<br />
Original screenplay</p>
<p>&#8220;<strong>Invictus</strong>,&#8221; a Liberty Pictures Production (Warner Bros.) (2 nominations)<br />
Morgan Freeman &#8211; Performance by an actor in a leading role<br />
Matt Damon &#8211; Performance by an actor in a supporting role</p>
<p>&#8220;<strong>Julie &amp; Julia</strong>,&#8221; a Columbia Pictures Production (Sony Pictures Releasing) (1 nomination)<br />
Meryl Streep &#8211; Performance by an actress in a leading role</p>
<p>&#8220;<strong>The Last Station</strong>,&#8221; an Egoli Tossell Film/Zephyr Films Production (Sony Pictures Classics) (2 nominations)<br />
Christopher Plummer &#8211; Performance by an actor in a supporting role<br />
Helen Mirren &#8211; Performance by an actress in a leading role</p>
<p>&#8220;<strong>The Lovely Bone</strong>s,&#8221; a Wingnut Films Production (DreamWorks in association with Film4, Distributed by Paramount) (1 nomination)<br />
Stanley Tucci &#8211; Performance by an actor in a supporting role</p>
<p>&#8220;<strong>The Messenger</strong>,&#8221; an All the King&#8217;s Horses Production (Oscilloscope Laboratories) (2 nominations)<br />
Woody Harrelson &#8211; Performance by an actor in a supporting role<br />
Original screenplay</p>
<p>&#8220;<strong>The Milk of Sorrow</strong>,&#8221; a Wanda Visión/Oberon Cinematogràfica/Vela Production (1 nomination)<br />
Best foreign language film (Peru)</p>
<p>&#8220;<strong>The Most Dangerous Man in America: Daniel Ellsberg and the Pentagon Paper</strong><strong>s</strong>,&#8221; a Kovno Communications Production (1 nomination)<br />
Documentary feature</p>
<p>&#8220;<strong>Nine</strong>,&#8221; a Weinstein Brothers/Marc Platt/Lucamar/Relativity Media Production (The Weinstein Company) (4 nominations)<br />
Penélope Cruz &#8211; Performance by an actress in a supporting role<br />
Art direction<br />
Costume design<br />
Original song &#8211; &#8220;Take It All&#8221;</p>
<p>&#8220;<strong>Paris 36</strong>,&#8221; a Galatée Films Production (Sony Pictures Classics) (1 nomination)<br />
Original song &#8211; &#8220;Loin de Paname&#8221;</p>
<p>&#8220;<strong>Precious: Based on the Novel &#8216;Push&#8217; by Sapphire</strong>,&#8221; a Lee Daniels Entertainment/ Smokewood Entertainment Production (Lionsgate) (6 nominations)<br />
Gabourey Sidibe &#8211; Performance by an actress in a leading role<br />
Mo&#8217;Nique &#8211; Performance by an actress in a supporting role<br />
Directing<br />
Film editing<br />
Best picture<br />
Adapted screenplay</p>
<p>&#8220;<strong>The Princess and the Frog</strong>,&#8221; a Walt Disney Pictures Production (Walt Disney) (3 nominations)<br />
Best animated feature film<br />
Original song &#8211; &#8220;Almost There&#8221;<br />
Original song &#8211; &#8220;Down in New Orleans&#8221;</p>
<p>&#8220;<strong>The Secret of Kells</strong>,&#8221; a Cartoon Saloon/Les Armateurs/Vivi Film Production (GKIDS) (1 nomination)<br />
Best animated feature film</p>
<p>&#8220;<strong>A Serious Man</strong>,&#8221; a Working Title Films Production (Focus Features) (2 nominations)<br />
Best picture<br />
Original screenplay</p>
<p>&#8220;<strong>Sherlock Holmes</strong>,&#8221; a Warner Bros. UK Services Production (Warner Bros.) (2 nominations)<br />
Art direction<br />
Original score</p>
<p>&#8220;<strong>A Single Man</strong>,&#8221; a Fade to Black and Depth of Field Production (The Weinstein Company) (1 nomination)<br />
Colin Firth &#8211; Performance by an actor in a leading role</p>
<p>&#8220;<strong>Star Trek</strong>,&#8221; a Bad Robot Production (Paramount and Spyglass Entertainment) (4 nominations)<br />
Makeup<br />
Sound editing<br />
Sound mixing<br />
Visual effects</p>
<p>&#8220;<strong>Transformers: Revenge of the Fallen</strong>,&#8221; a Don Murphy/Tom DeSanto/di Bonaventura Pictures/Ian Bryce Production (DreamWorks and Paramount in association with Hasbro, Distributed by Paramount) (1 nomination)<br />
Sound mixing</p>
<p>&#8220;<strong>Un Prophète</strong>,&#8221; a Why Not/Page 114/Chic Films Production (Sony Pictures Classics) (1 nomination)<br />
Best foreign language film (France)</p>
<p>&#8220;<strong>Up</strong>,&#8221; a Pixar Production (Walt Disney) (5 nominations)<br />
Best animated feature film<br />
Original score<br />
Best picture<br />
Sound editing<br />
Original screenplay</p>
<p>&#8220;<strong>Up in the Air</strong>,&#8221; a Montecito Picture Company Production (Paramount in association with Cold Spring Pictures and DW Studios) (6 nominations)<br />
George Clooney &#8211; Performance by an actor in a leading role<br />
Vera Farmiga &#8211; Performance by an actress in a supporting role<br />
Anna Kendrick &#8211; Performance by an actress in a supporting role<br />
Directing<br />
Best picture<br />
Adapted screenplay</p>
<p>&#8220;<strong>Which Way Home</strong>,&#8221; a Mr. Mudd Production (1 nomination)<br />
Documentary feature</p>
<p>&#8220;<strong>The White Ribbon</strong>,&#8221; an X Filme Creative Pool/Wega Film/Les Films du Losange/Lucky Red Production (Sony Pictures Classics) (2 nominations)<br />
Cinematography<br />
Best foreign language film (Germany)</p>
<p>&#8220;<strong>The Young Victori</strong>a,&#8221; a GK Films Production (Apparition) (3 nominations)<br />
Art direction<br />
Costume design<br />
Makeup</p>
]]></content:encoded>
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		</item>
		<item>
		<title>Robin Hood Tax</title>
		<link>http://www.mythoughtsonpaper.com/2010/02/11/robin-hood-tax/</link>
		<comments>http://www.mythoughtsonpaper.com/2010/02/11/robin-hood-tax/#comments</comments>
		<pubDate>Thu, 11 Feb 2010 01:33:29 +0000</pubDate>
		<dc:creator>Charlie VB</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[banking crisis]]></category>
		<category><![CDATA[robin hood tax]]></category>

		<guid isPermaLink="false">http://www.mythoughtsonpaper.com/?p=22</guid>
		<description><![CDATA[

I personally think this is an excellent idea, I ecourage others who think so to head on over to http://http://robinhoodtax.org.uk/

How I Works
• The Robin Hood Tax is a tiny tax on bankers that would raise billions to tackle poverty and climate change, at home and By taking an average of 0.05% from speculative banking transactions, hundreds of [...]]]></description>
			<content:encoded><![CDATA[<div style="text-align: center;"><img src="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/02/wp-contentuploadsemail-header.png" border="0" alt="email-header.png" width="500" height="204" /></div>
<p><object width="500" height="306"><param name="movie" value="http://www.youtube.com/v/qYtNwmXKIvM&#038;fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/qYtNwmXKIvM&#038;fs=1" type="application/x-shockwave-flash" width="500" height="306" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p>I personally think this is an excellent idea, I ecourage others who think so to head on over to <a href="http://robinhoodtax.org.uk/" target="_blank"><strong>http://http://robinhoodtax.org.uk/</strong></a></p>
<h4></h4>
<h4><em><span style="color: #800080;">How I Works</span></em></h4>
<p><span style="color: #ff6600;">• <span style="color: #000000;">The Robin Hood Tax is a tiny tax on bankers that would raise billions to tackle poverty and climate change, at home and By taking an average of 0.05% from speculative banking transactions, hundreds of billions of pounds would be raised every year.</span></span></p>
<p><span style="color: #ff6600;">• </span>That’s easily enough to stop cuts in crucial public services in the UK, and to help fight global poverty and climate change.</p>
<h4><span style="color: #800080;"><em>Why now?</em></span></h4>
<p><span style="color: #ff6600;">• </span>Because of the financial crisis, frontline services at home – like the NHS and our schools – are under fire.</p>
<p><span style="color: #ff6600;">• </span>At the same time, poor communities and the environment are being hit hard – as aid and green budgets are slashed by rich countries.</p>
<p><span style="color: #ff6600;">• </span>So it’s time for the people who caused this mess to pay to clean it up.</p>
<h4><span style="color: #800080;"><em><strong>Who’s in?</strong></em></span></h4>
<p><span style="color: #ff6600;">• </span>Gordon Brown, Angela Merkel (the German Chancellor) and Nicolas Sarkozy (the French President) have all spoken out in support of a tax on financial transactions.</p>
<p><span style="color: #ff6600;">•</span> Plenty of business bigwigs are on-board too. Like Lord Turner (from the Financial Services Authority), George Soros (the philanthropist) and Warren Buffet (US businessman extraordinaire). And then there are the hundreds of economists who have backed the idea, too.</p>
<p><span style="color: #ff6600;">• </span>This isn’t some crazy pipedream. It’s a simple and brilliant idea which transcends party politics and which – with your support – can become a reality.</p>
<p><span style="color: #800080;"><strong><em>The Big Idea</em></strong></span></p>
<p>We are calling for governments around the world to implement a tax on financial transactions – called the Robin Hood Tax.</p>
<p>Implemented globally, it would tax the trade of certain financial assets. Things like stocks, bonds and foreign exchange, traded both physically and as derivatives (options, forwards, futures and swaps), and bought and sold on Exchanges and Over the Counter (OTC). While OTC trades are technically more difficult to capture, the long-term goal is for all financial transactions to be taxed.</p>
<p><strong><span style="text-decoration: underline;">How much would it raise?</span></strong></p>
<p><strong><span style="text-decoration: underline;"> </span></strong><br />
Up to $400 billion globally every year. The rate of tax would vary from 0.5% on stocks to 0.005% on currency transactions.</p>
<h5><a href="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/02/screen-capture-5.png"><img class="aligncenter size-full wp-image-24" title="screen-capture-5" src="http://www.mythoughtsonpaper.com/wp-content/uploads/2010/02/screen-capture-5.png" alt="" width="403" height="405" /></a><span style="font-weight: normal;"><em> (source: Bank of International Settlements, International Finance Services London)</em></span></h5>
<p>Various experts (Schulmeister (2009) who provides a good summary of the work of others, Baker et al (2009), and our own campaign research) have produced estimates of the tax receipts, using various methodologies.  All estimates are in the hundreds of billions of dollars.</p>
<p><span style="text-decoration: underline;"><strong>How does it work?</strong></span></p>
<p>Ten years ago it was felt that a financial transaction tax was too complex to collect.</p>
<p>But a lot has changed in the last decade, as banks have improved their IT infrastructures (such as the Real Time Gross Settlement – RTGS) to help drive down trading costs. The 0.5% Stamp Duty paid on shares on the London Stock Exchange is one of many taxes on financial transactions now in place.</p>
<p>So the Robin Hood Tax would be applied wherever a transaction takes place. Currently, the vast majority of financial transactions take place on regulated exchanges in financial centres like New York, London and Tokyo.</p>
<p>And though the details of how to tax Over The Counter transactions have yet to be finalised – as these currently occur between financial institutions, without the official exchange being involved –  the bank licence system could be changed to ensure that these trades do take place within financial exchanges.</p>
<p><strong><span style="text-decoration: underline;">Will the tax be passed on to consumers?</span></strong></p>
<p>The Robin Hood Tax will not impact on personal banking or on retail banking. That’s because it targets a distinct area of bank operations – high-frequency large-volume trading, undertaken by financial institutions in the ‘casino economy’.   If you change money to go on holiday, send remittances abroad, invest in a pension fund or take out a mortgage, you will not be affected by this tiny tax.</p>
<p><strong><span style="text-decoration: underline;">Can the financial sector afford to pay it?</span></strong></p>
<p>Although 0.05% is a tiny tax, $400 billion is a substantial amount. We recognise that even such a small tax will have an effect on the market. Economists such as Schmidt have estimated that at a rate of 0.005% currency markets may shrink by 14%. This is due in part to the fact that the margins on some speculative trades are extremely low and these may not continue.</p>
<p>Banking is the most profitable industry in the world, with profits of $788 billion in 2006, which have rapidly returned since the financial crisis, and are predicted by some to double by 2016.   Banking is 26 times more profitable per employee than the average of all other industries. (Source: McKinsey, What’s in store for global banking?)</p>
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