At 02:27 PM 3/10/04 -0800, Steve Schear 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 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
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