October 2, 2006

The american taliban Expands Its Reach

The us congress has passed legislation which prohibits US banking institutions from processing credit card and funds transfer transactions by once free residents of the United States with internet gambling companies.

dictator bush is expected to sign the legislation.

Much gambling is pretty much a waste of money if not outright theft and I don't participate in any kind of internet gambling and don't anticipate doing so. However, free people make their own choices.

Governments, if they have any role at all, protect free people from those who would physically harm them, defraud them, steal from them, etc. They do this by demonstrating in an open court that some person or business has performed one of these acts and they assure that proper restitution is made.

Does anyone else expect the stock of British and other international banks to rise a bit as folks move some of their money to foreign banks which the us governement can not control?

I think I'll open a British account and start using it for some of my infrequent debit/credit card transactions (I use cash for most of my in person purchasing). Does anyone have guidance on how to open an overseas account?

The way things are going financial diversification may become even more important.

Posted by Steve on October 2, 2006
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