Liberty Reserve and Government Control of Money 170


I have my doubts about the closure of Liberty Reserve. It is widely reported to have had 1 million users. I am not yet convinced that a higher percentage of these were criminals, than is true in much of the mainstream banking system. I have been told by an email – which I cannot currently verify – that of the US $6 billion processed through Liberty Reserve, only US$20 million has to date been seized as the proceeds of crime.

It seems to me that a public sickened by the massive charges of bankers for simple intermediary services, will increasingly look for means to exchange value outwith the formal banking sector using modern technology. Services like Western Union are dreadfully overpriced, and make massive profits on home transfers by poor immigrant workers worldwide. It is getting increasingly hard to despatch money as physical cash by a friend. Carrying large quantities of money, even if it is your own, is seen as suspicious.

I was astonished when, during the Norwich by-election, my request to take several thousand pounds worth of cash out of my own bank account to pay various expenses was met with an insistence by the bank that I complete a form saying what it was for. Furious at being denied my own money, I wrote on the form that I needed the money for “Drink and bad women”. That sufficed to meet the stupid regulation.

The US government through aggressive – and in my view illegal – pressure on banks and financial services providers managed to cut off Wikileaks from almost all avenues of sources of international donation funding by individuals. You cannot trust governments to have the power to control all funds transfers. Governments will abuse that power.

Of course proceeds of crime should be seized. I have no problem with that. Stopping the crime in the first place would be better, but failing that you should track the money and seize it. But the way to do that is not to control everybody’s exchanges of value at all times. It is like asking me for proof I am not going to rob a bank every time I walk out of the house. It would make as much sense to ban mattresses, as stolen cash can be hidden under them, or cars, as stolen cash can be transported in them, as to close down internet transfer options because they might be used to transfer crooked cash.

Am I alone in worrying that the mainstream media’s reporting of this closure has involved simply repeating US government press releases, with no attempt at all to analyse what percentage of Liberty Reserve’s funds were actually criminal proceeds, and compare that to a mainstream bank?


170 thoughts on “Liberty Reserve and Government Control of Money

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  • BA Near Disaster

    Airbus A320-231 London Gatwick 20 January 2000 AAIB Bulletin: 7/2000 FACTOR: N/A Synopsis Accident No.1 engine cowling debris left on runway after take off. Aircraft diverted to Stansted and landed safely on full emergency.

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    It’s definitely adding insult to injury John..Kinda like requiring a rape victim to clean herself up pretty-like before she files her complaint.

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    I’m not paranoid, John. I signed the Bilderberg petition, but could not penetrate your software to comment. Sorry.

  • Kempe

    “Are you trolling, or do you really think that countries and other geographically-based ethnic brands, such as Cornwall, have existed for as long as the geographical areas they are now associated with? ”

    Apologies, I was of course referring to the geographical British isles.

  • Jesuit Atheist

    It amazes me that many people still have no clue that the BoE, the Fed, the Bundesbank, etc. etc. are all privately owned, even the Bank of International Settlements. Yet, they’ll shriek you down when you suggest Western Capitalism is a massive Ponzi scheme run by a *very* small bunch of folks who regularly and deliberately throw the nations against each other to further consolidate their desire for a vice like grip on the entire planet.

    When their great Ponzi schemes run out of new investors, which are required to keep inflating the various bubbles, they just become the investors themselves (QE is nothing new). At that point it’s just a matter of time before the nations are once again thrown against each other. Because inflating your own bubble is a confidence trick with a limited time span – soon, more and more people will start working out that it is impossible to pay any of these debts and they will start asking hard questions.

    It’s been happening as regular as clockwork ever since 1815 when Julius Reuter (the founder of Reuters News Agency) deliberately mis-informed the City of London about the outcome of the Battle of Waterloo. This allowed his close friends (and co-religionists) to buy a controlling interest in the Bank of England and over 50% of the entire London Stock Exchange at fire-sale prices.

    So England lots its financial independence because Julius Retuer deliberately lied to the City of London. Ever since, whenever they want a war, you’ll usually find England or one of it’s former colonies (which they all own) has a hand in it. Even though England has had no empire for 70 years we’re still getting sent round the planet to fight and die for them and their dominion.

    They are now after China, the last great obstacle to the ‘one world government’ they seek, which is basically a byword for massive population reduction. Most of the non-white nations appear to be wise to what “old whitey” is up to with their ethnic bio-weapons research and the like.

    http://www.youtube.com/watch?v=PtBy_ppG4hY

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    Stress time-out. Although I didn’t start the fire, it’s always burning while the World is turning. We need a tradition of late-night
    sounds and video to calm the waters.

    ‘Money for nothing’….Dire Straits. Mark Knopfler; one of my favs.

    http://www.youtube.com/watch?v=dlPjxz4LGak

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    C’mon, Villager, Mark—anyone….what you got?

  • Kempe

    “It’s been happening as regular as clockwork ever since 1815 when Julius Reuter (the founder of Reuters News Agency) deliberately mis-informed the City of London about the outcome of the Battle of Waterloo. This allowed his close friends (and co-religionists) to buy a controlling interest in the Bank of England and over 50% of the entire London Stock Exchange at fire-sale prices.”

    Are we having a laugh? Paul Julius Reuter, the founder of the news agency that bears his name, wasn’t born until 1816.

    The BoE was nationalised in 1946.

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    Kempe; Surely you have some musical interlude. Lighten up.

  • Fred

    “It amazes me that many people still have no clue that the BoE, the Fed, the Bundesbank, etc. etc. are all privately owned, even the Bank of International Settlements.It amazes me that many people still have no clue that the BoE, the Fed, the Bundesbank, etc. etc. are all privately owned, even the Bank of International Settlements.”

    It amazes me that many people still have no clue that the Bank of England was privatised in 1946.

  • Sofia Zabalotna-Habbercake

    Ben. Thanks.

    Here’s something for you

    http://www.youtube.com/watch?v=0l3hq4G1iHs

    ………………………………………….

    Sophie’s still watching the grown-ups.
    .
    She’s still embarrassed about Dad. She joined Mark U’s, as it turned out, two-person petition to have Dad banned. Well you win some, you lose some!
    .
    When she joined with Mark U she promised, as an added bonus, to expel herself. She’ still unsure as to whether trolls are fed, or inoculated against, by laughter. She understands why people should want to use software fixes to get Dad out of their hair but notices it doesn’t seem to remove him from under their skin. She feels a ban might have felt satisfying but would only have caused him to return in another guise. She chooses now whether to read or scroll past a troll post. She feels that, like a dog turd on the pavement, it’s no big deal. It is’nt persuading anyone, just attempting to disrupt and distract. She notices what a very paltry repetoir the trolls here have.
    .
    She still thinks Craig Murray is a genuine hero and his blog, a brilliant , informative and entertaining conversation. To her it’s a bit like a corner of a pub where intense conversation ebbs and flows and gets regularly punctuated with humour and disrupted by very drunk bores. She still wants to hang out there.
    .
    She’s grateful for the humanity and dedication that has so many commenters holding truly valid stuff up to be considered. She loves the moments when things lighten up briefly for a few quips and taunts before returning to the issues of the day.
    .
    She’s grown to respect and appreciate the many different commenters and still rages at others.
    .
    She may or may not have an alter ego.

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    “That should read nationalised not privatised, getting late, time for bed.”

    Why would you pass on an opportunity to find some enjoyment from life? Yeah, things are bad, but if you can’t find some place of solitude for yourself for re-charging purposes, you might find nothing but your bitterness. Lighten up. The only way you can reverse the dynamics of temporal power, ( and those are readily identified on this thread) is by positively impacting those within your reach; those very people in your midst.

    I wish I could remember the film (1970’s) about activism and the motivations of those activists but I remember, vividly;

    “It’s easier to love the whole World, than it is to love just one person”

    *I am not singling out the poster and mean this message to all with ears to hear)

  • Ben Franklin -Machine Gun Preacher (unleaded version)

    Sofia; I did not know Moore was such a gifted pianist. He soars over Liberace for pure entertainment power. Thx.

  • Jives

    Simon Cowell was not closed properly on a BA flight to Oslo.

    The resulting damage could’ve been disastrous but for the timely intervention of the swooning pilot’s X-Factor ambitions.

    The fire was kindled by Arthur Brown,formerly head engineer of UK Diversionary-Media /Political/Cultural Gambits PLC.

  • Herbie

    This seems relevant:

    “With the natives we were very little more acquainted than on our arrival in the country. Our intercourse with them was neither frequent or cordial. They seemed studiously to avoid us, either from fear, jealousy, or hatred. When they met with unarmed stragglers, they sometimes killed, and sometimes wounded them. I confess that, in common with many others, I was inclined to attribute this conduct, to a spirit of malignant levity. But a farther acquaintance with them, founded on several instances of their humanity and generosity, which shall be noticed in their proper places, has entirely reversed my opinion; and led me to conclude, that the unprovoked outrages committed upon them, by unprincipled individuals among us, caused the evils we had experienced. To prevent them from being plundered of their fishing-tackle and weapons of war, a proclamation was issued, forbidding their sale among us; but it was not attended with the good effect which was hoped for from it.”

    http://ebooks.adelaide.edu.au/t/tench/watkin/settlement/chapter1.html#chapter1

    Watkin Tench, Royal Navy.

    https://en.wikipedia.org/wiki/Watkin_Tench

  • Habbabkuk (La vita è bella!)

    English Knight gabbles :

    “This blog is becoming a bit like the guffawing gallery in Judge Chins court that saw the $70b thief madoffs wife try the “I am having to pay for his security out of my own funds” sympathy stunt, and promptly laughed her out of court. Habba does not seem to realise his yarmulke is see through and his bald pate is plain for all to see !”
    __________

    Have I ever commented on the Madoff case/affair?

    Perhaps E.K. is getting me mixed up with someone else? Or perhaps names are completely inter-changeable for him?

    I look forward to a troll-denunciation from the usual troll-sniffers-out 🙂

    PS – John Goss issued a timely reminder about what real poverty is (see above). UK-haters please note.

    ****************

    La vita è bella, life is good!
    __________________

    La vita è bella, life is good!

  • Flaming June

    G8 summit could bring £7.5m into Fermanagh /
    Additional G8 security cameras go up around Fermanagh /
    Protesters will walk from library to G8 security fence
    G8 security fence and portable hotels under construction /
    School closes for week because of G8 disruption fears /

    Above were some of the G8 headlines in May in the local rag.

    It is an appropriate location for the G8. The place went bust. A little more of the Anglo Irish Bank funded property bubble that went pop.

    ‘The Lough Erne golf and hotel resort (pictured) which is a major employer in Fermanagh, was also placed in administration this week.

    Former Tourism Minister and DUP MLA, Arlene Foster, has said the Lough Erne golf and hotel resort in County Fermanagh should be sold as a going concern.

    The five star hotel and golf resort opened in October 2007, but has been in financial difficulties.’

    http://www.4ni.co.uk/northern_ireland_news.asp?id=126652

  • Habbabkuk (La vita è bella!)

    “Flaming June” (above) ?

    Who was it who said “they change their names as often as thieves” (or something like that) ?

    _____________

    PS – Ben Franklin wrote : “Why would you pass on an opportunity to find some enjoyment from life?”.

    Exactly! As I say, La vita è bella, life is good!

  • DoNNyDarKo

    Although a Labor government nationalized the Bank of England in 1946, The Great Soviet Encyclopaedia points out (vol. I, p. 490c) that the Bank of England continues to pay 12% dividends per annum, just as it had done prior to the nationalization. The “Governor” is appointed by the government, in a situation similar to that in the United States, where the Governors of the Federal Reserve System are appointed by the President. However, as is pointed out in the Encyclopaedia Americana v. 13, p. 272, “In practice, the governors of the Bank of England have not hesitated to criticize and bring pressure on the government in public.”

  • Jesuit Atheist

    “Are we having a laugh? Paul Julius Reuter, the founder of the news agency that bears his name, wasn’t born until 1816.”

    “Paul Julius Reuter” real name Israel Beer Josafat is the son of “Samual”, who in turn was the the son of “Julius”. The family’s business connections to the Rothschild’s go back to 18th Century Germany. “Julius” was the man that made the family name, he started of in political espionage and was the source of the news of England’s defeat at Waterloo.

  • craig Post author

    I pride myself on my patience but I have had enough of English Knight’s anti-Semitic comments so I have tried to block him/her from commenting. Doubtless will turn up under another moniker, but really not welcome.

  • Kibo Thieving Noh

    Welcome Flaming Magpie
    Anticipating shiny treasures
    You’ll no doubt bring us
    A delight to the Sophiesticated Connoisseur
    Apoplexy to the Resident Old Beur

  • Arbed

    April Showers, 30 May 7.03pm

    I see you posted a link to the annotated transcript of the anti-Wikileaks We Steal Secrets film on the previous thread. Did you see that NBC Universal made YouTube take down that Democracy Now interview with Julian Assange because in it he mentions the URL to the annotated transcript on Wikileaks’ website? They cited “copyright infringement” as the reason.

    Someone’s done a list on Reddit of actions people can take to push back against Universal’s $2.5 million propaganda drive against Wikileaks with this “documentary”:

    http://www.reddit.com/r/WikiLeaks/comments/1fftvu/easy_things_everyone_can_do_to_stop_the_faux/?utm_source=twitterfeed&utm_medium=twitter

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