The silliness of those who argue that gold is the key to untraceability

[James A. Donald]

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On 12 Dec 2003 at 19:06, Tim May wrote:
> Your notion that "a gold atom cannot be distinguished from 
> another" has anything important to do with issues at the 
> crypto and traceability layers is symptomatic of this 
> delusion.

It has nothing to do with crypto, but a great deal to do with 
traceability.

> When a person deposits $10,000 and then writes a check to 
> another person, or wires money, or withdraws cash, and so and 
> so forth, do you think some record of the serial numbers was 
> the means by which this transaction was traced?

Usually the transfer of value ultimately results in an 
adjustment in the ledgers of the federal reserve -- the 
receiving bank goes up slightly, the sending bank goes down 
slightly, and the traceability follows from the fact that the 
transaction ultimately goes through the federal reserve.  The 
FRN numbers are a backup system to trace people and banks who 
try to bypass this.

A gold transfer does not go through the federal reserve.

> Your foolish faith that "E-gold" is some significant step
> "because gold atoms look like all other gold atoms, because
> there is only one stable isotope of gold" is embematic of the
> delusions which the gold bugs and offshore platform silly
> people have.

I can rather easily open a pecunix account with a hotmail
address.   Opening a swiss bank account is considerably harder. 

    --digsig
         James A. Donald
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