[LUG] OT financial Blah Blah - wasComical phone call. MS vs Linux & Malware.

[tom <tompotts@xxxxxxxxxxxxxxxxxxxxxx>]

On 03/03/11 11:45, Henry Bremridge wrote:
> On Thu, Mar 03, 2011 at 11:01:34AM +0000, tom wrote:
> > I do agree that the guilty should go free rather than jail the
> > innocents. Its just the current setup is very much on the 'we cant
> > deal with it all so we wont bother with any of it'. And it seems the
> > people with the power to make simple but effective changes are
> > either badly advised or have vested interests.
> I was amused by some of the recent shenanigans with Liechenstein that only
> came to light when a DVD (CD) of data was sold to the German Tax
> Authorities
>
> > Traceability should be on the jurisdiction level - if you dont let
> > us potentially look we wont let you move money. That still leaves
> > the cash loophole but no company is going to expect its employees to
> > move millions in suitcases and arrive at the correct destination,
> > and in reality a restriction like that would not affect any
> > legitimate trading, just move it onto traceable routes. It would
> > just make it harder for dodgy dealing.
> The US do this: if you want to trade with us then you must provide details
> as required. It works with countries such as the Caymans. They also tried
> it with Switzerland but that went less well and presumably not at all well
> with Cuba or China.
Cuba could provide all the evidence the US needs, and probably did, but 
the Cuban lobby in the US is almost as strong as the Irish one that 
still allows money to be raised for the (real or whatever) IRA today.
They could never get it right
> Where this also fails is eg the Hawala trade
> http://en.wikipedia.org/wiki/Hawala
> This can be faster and cheaper than the banks
But again there are banks that work under Islamic law and could provide 
the evidence required.
Its a case of ring fencing the financial system.
> > As for who makes real wealth - the city, the black market or little
> > people - that’s another question.
> Yup, as is "what is effective regulation"
No that's clear cut - what is not is how any attempts at getting 
effective regulation enforced fail.
Go to point 1 and unseen deposits in foreign bank accounts...
Tom te tom te tom


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