RE: J.P. Morgan Is Facing Heat Of Patriot Act
At 11:49 AM 3/10/2004, Major Variola (ret) wrote:
This is how the US intimidates such that the USG can monitor all transactions. A serious practical problem for e$ when it needs to interface to atoms.
not really. it means there is a need for a more P2P approach, like Kawalah, where trusted individuals act as entry and exit points using
At 02:27 PM 3/10/04 -0800, Steve Schear wrote: their
own banking accounts in exchange for the lion's share of the service fees.
Kawalah, isn't that a terrorist tool? ;-) If it isn't already, it will be declared one. Unlicenced transfers over N$ get you a discrete military tribunal, after detention incommunicado, sans charges, of course. Cuba really is nice this time of year. Moving money between people will require government-licensed (ie 0wn3d) intermediary, much like moving handguns (or pharmaceuticals) inside various States.
this is not uncommon now in e-gold where secondary players offer such transactions.
The next time Ashcroft [1] gets a hard-on for gambling | drugs | porn | arabs, e-gold systems will see major hasslement ranging from frozen or confiscated subscribers assets to the latest in Raytheon's precision versions of the V-2 delivered to their doorstep. No extra charge for nighttime delivery. [1] Hey, at least that bastard Bennett would have been soft on gambling, given his addiction, not that such innumeracy redeems the slow painful death he earned. ------ "They keep talking about drafting a Constitution for Iraq. Why don't we just give them ours? It was written by a lot of really smart guys, it's worked for over 200 years, and Hell, we're not using it anymore." -Jay Leno
At 09:14 AM 3/11/2004, Major Variola (ret) wrote:
At 11:49 AM 3/10/2004, Major Variola (ret) wrote:
This is how the US intimidates such that the USG can monitor all transactions. A serious practical problem for e$ when it needs to interface to atoms.
not really. it means there is a need for a more P2P approach, like Kawalah, where trusted individuals act as entry and exit points using
At 02:27 PM 3/10/04 -0800, Steve Schear wrote: their
own banking accounts in exchange for the lion's share of the service fees.
Kawalah, isn't that a terrorist tool? ;-)
If it isn't already, it will be declared one.
The money order and small payment industry sought and got exemptions covering smaller operators (I think the upper limit is $10,000 per day). E-gold secondaries easily fit within that umbrella. Its unlikely that federal laws will effectively be tightened to keep such ad hoc small transfer businesses from operating legally. steve --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.605 / Virus Database: 385 - Release Date: 3/1/2004
participants (2)
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Major Variola (ret)
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Steve Schear