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Old 02-21-2007, 11:27 AM
Billman Billman is offline
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Join Date: Nov 2003
Location: Huggling
Posts: 425
Default Re: how long before PS UB and FT drop?

I don't think people really realize how firm a grasp governments have over the electronic movement of funds within their borders. This isn't anything like Napster. Napster was trading in electronic bits that could travel over any network. Money has very specific networks it travels over and unlike the internet those networks are both highly regulated and highly secure. You can't simply tap into the ACH network like you set up an ISP account.

I've said it before in many places but I'll repeat it here:

If the money travels through the US banking institutions in electronic form it's very vulnerable to being stopped.

But what about a bank in Panama? Well, how does that money get from your US bank to Panama? Unless you're moving cash or using paper checks (harder but not impossible to stop) you're moving that money via the above mentioned networks. So, really the only REAL solution is to move the money outside of the US banking system in a completely valid way. That means opening a legitimate bank account in a foreign country. Why the "legitimate" qualifier? Because the gov working with banks have been chasing down money laundering for years and they already know all the tricks involved with bs banking institutions in offshore lands. If you think the UIGEA laws put a crimp in online gaming, you don't even want to know the kind of crawling up your ass they can do if they think you're doing something shifty with that money in an offshore bank.
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