[e-gold-list] Re: e-gold - the safest place to keep your money

[Steve Schear]

At 04:58 PM 12/18/2006, you wrote:
>On 12/19/06, Tom Nicholson <tom at webmoney.co.nz> wrote:
>I think e-gold should give state clearly what's going on, and what are
>the causes for account blockings.
>
>Otherwise, I'm afraid my money will be going somewhere else.

In my mind, financial privacy is as fundamental and equivalent to privacy 
in ones communications.  Until 9/11 many people naively believed that they 
could trust their privacy to professionals but no more.  With today's 
regulatory environment the line between a person seeking to maintain their 
privacy and a criminal has become so blurred as to sometimes be 
indistinguishable from a distance.  Its now clear that the only real 
privacy is end-user controlled, what most people would consider 
secrecy.  Therefore, if you want your privacy (secrecy) you must acquire 
the trade craft of spies and criminals and conduct yourself 
appropriately.  For example,
  - Accounts should not be linked to one's meat space identity
  - One should never aggregate more value that you can afford to lose in 
any single account or financial institution
  - Movement between accounts and institutions must be done is such a away 
as to remove the linkage

Companies trying to offer their clients a means to maintaining this real 
quality of privacy had better clearly show how they will deal with 
regulators.  One legal way to help clients is to offer a service so that 
any client can know if a warrant or national security letter covering them 
or their accounts has been received.  At first glance such a service would 
seem to violate the orders surrounding these letters but that's not 
so.  Its not illegal to answer queries when the reply can honestly be 
"NO".  That is, no letter has been received and therefore no court or 
agency can accuse the company of leaking information regarding letters that 
have not be presented.  When a letter dealing with the specifics of the 
query has been received the company does not reply (since the letters 
always say that the company cannot discuss them or their existence).  The 
lack of reply is the information desired by the client.

Any company unwilling to offer such a service and honestly administer it 
should not hold your trust or money.

Steve

 


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