And if this substantial hurdle could be overcome, most observers believe that the effect of the tax would be to substantially diminish liquidity in financial markets, so that large ‘beneficial’ transactions would produce very large movements in the exchange rate.
Of course the market wants zero rates to continue indefinitely: They are earning a guaranteed return on free money from the Fed by lending it back to the government through securities purchases. The current recovery in its first year saw GDP grow an average of 3.2 percent.