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E-gold Owners Plead Guilty To Money Laundering
Ian Lamont writes "The three owners of Internet currency service e-gold have pled guilty to money laundering in the U.S. District Court for D.C.. The service is based in the West Indies, but the directors apparently live in Florida. They haven't been sentenced yet, but potentially face decades in prison and millions in fines. In addition, the principal director posted a blog entry yesterday saying that 'criminal activity will not be tolerated,' and pledging to eliminate the loopholes that allowed money laundering to thrive on the service. He also claims that e-gold has more transaction volume in a single quarter than all of the first-generation Web currency services like Cybercash, Beenz, and Flooz completed over their lifetimes. Ironically, one of the reasons that contributed to Flooz's demise in 2001 was rampant money laundering."
*sigh* Why oh WHY was this blatant shit posted by timothy? His comments are - at best - a string of facile observations.
On top of that, I think most of you are aware of the controversy surrounding regular Slashdot article submitter D Ninja (aka Roland Piquepaille).
For those of you who don't know, please allow me to bring forth all the facts. Roland Piquepaille has an online journal (I refuse to use the word "blog") located at www.primidi.com. It is titled "Roland Piquepaille's Technology Trends". It consists almost entirely of content, both text and pictures, taken from reputable news websites and online technical journals. He does give credit to the other websites, but it wasn't always so. Only after many complaints were raised by the Slashdot readership did he start giving credit where credit was due. However, this is not what the controversy is about.
Roland Piquepaille's Technology Trends serves online advertisements through a service called Blogads, located at www.blogads.com. Blogads is not your traditional online advertiser; rather than base payments on click-throughs, Blogads pays a flat fee based on the level of traffic your online journal generates. This way Blogads can guarantee that an advertisement on a particular online journal will reach a particular number of users. So advertisements on high traffic online journals are appropriately more expensive to buy, but the advertisement is guaranteed to be seen by a large amount of people. This, in turn, encourages people like Roland Piquepaille to try their best to increase traffic to their journals in order to increase the going rates for advertisements on their web pages. But advertisers do have some flexibility. Blogads serves two classes of advertisements. The premium ad space that is seen at the top of the web page by all viewers is reserved for "Special Advertisers"; it holds only one advertisement. The secondary ad space is located near the bottom half of the page, so that the user must scroll down the window to see it. This space can contain up to four advertisements and is reserved for regular advertisers, or just "Advertisers". Visit Roland Piquepaille's Technology Trends (www.primidi.com) to see it for yourself.
Before we talk about money, let's talk about the service that Roland Piquepaille provides in his journal. He goes out and looks for interesting articles about new and emerging technologies. He provides a very brief overview of the articles, then copies a few choice paragraphs and the occasional picture from each article and puts them up on his web page. Finally, he adds a minimal amount of original content between the copied-and-pasted text in an effort to make the journal entry coherent and appear to add value to the original articles. Nothing more, nothing less.
Now let's talk about money. Visit http://www.blogads.com/order_html?adstrip_category =tech&politics= to check the following facts for yourself. As of today, December XX 2004, the going rate for the premium advertisement space on Roland Piquepaille's Technology Trends is $375 for one month. One of the four standard advertisements costs $150 for one month. So, the maximum advertising space brings in $375 x 1 + $150 x 4 = $975 for one month. Obviously not all $975 will go directly to Roland Piquepaille, as Blogads gets a portion of that as a service fee, but he will receive the majority of it. According to the FAQ [blogads.com], Blogads takes 20%. So Roland Piquepaille gets 80% of $975, a maximum of $780 each month. www.primidi.com is hosted by clara.net (look it up at http://www.networksolutions.com/en_US/whois/index. jhtml). Browsing clara.net's hosting solutions, the most expensive hosting service is their Clarahost Advanced (http://www.uk.clara.net/clarahost/advanced.php [clara.net]) priced at £69.99 GBP. This is roughly, at the time of this writing, $130 USD. Assuming Roland Piquepaille pays for the
Is it just my observation, or is eldavojohn an idiot?
Actually, it's the US currency that's bogus, as is the case with any fiat currency. US dollars are backed by nothing but the whims of the federal reserve, and it's this very fact that has brought about America's current financial predicament.
E-Gold holds audited stocks of gold to the value of its deposits, which is a far safer store of wealth than the US dollar.
I hate printers.
Their hand...she God, let's fucking Metadiscuusions JOIN THE GNNA!!
Now that WAS off-topic. At least you're batting 50/50 now.
No mod points, no meta-moderating/Firehose/all the other free work Slashdot wants me to do.
The key difference between the two, of course, is that gold/silver can't be arbitrarily created, while the US Treasury has an exclusive license to counterfeit the dollar, which it does with abandon. That is the reason why a commodity money is superior to paper currency.
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What small town in the middle of nowhere do you live in that Radio Shack could personally identify you by the zip code?
You can read all about it in Dr. Ron Paul's new book: The Tinfoil Hat Standard--Fiat Currency, Black People, and the Illuminati. Currently seeking publishers, please get in touch!
The Jew-controlled government of the U.S.A. use its powers to shut down the opposition of U.S. dollar. Jews also controlled the Federal Reserve system and many of the large banks.
By shutting down any non-fiat currency from circulating, Jew will soon control all our finance. We must stand up and fight.
13 U.S. senators are Jews, all Democratic. They are basically leftist/pro-communist trying to seize power.
Death to communism! HEIL HITLER! SIEG HEIL!