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[Jim Dixon]

In message <9408091402.AA23089 at snark.imsi.com> perry at imsi.com writes:
> > point.	The US government does not object to the use of financial
> > instruments so long as they are backed by the US $ (or another
> > accepted currency).
> 
> Yes it does. Bearer bonds are illegal in the US.

Perhaps my use of terms was insufficiently precise.  Bearer bonds do not
actually represent money in the same sense that a check does.  Their value
[usually] fluctuates.  They are a different kind of financial instrument.

> > Most of us use such financial instruments daily
> > -- checks and credit cards, for examples.  Most financial transactions
> > involve no cash at all.
> 
> The point is that anonymous transactions are coming under increasing
> regulation. Commercial paper and the like is not a problem.

Hmmm.  Neither of the types of financial transactions that I listed
is anonymous.

If A writes a check to 'cash', pays B with it, and B passes it on to
C, and so forth, are you saying that this is or will one day be illegal?
--
Jim Dixon