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	<title>DGC Blog &#187; patriot act</title>
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	<description>Gold is the only asset class that is not someone else&#039;s liability</description>
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		<title>e-gold To Require US Compliant Customer Identification?</title>
		<link>http://www.dgcmagazine.com/blog/index.php/2008/07/21/e-gold-to-require-us-compliant-customer-identification/</link>
		<comments>http://www.dgcmagazine.com/blog/index.php/2008/07/21/e-gold-to-require-us-compliant-customer-identification/#comments</comments>
		<pubDate>Mon, 21 Jul 2008 17:24:54 +0000</pubDate>
		<dc:creator>Mark</dc:creator>
				<category><![CDATA[e-gold]]></category>
		<category><![CDATA[patriot act]]></category>

		<guid isPermaLink="false">http://www.dgcmagazine.com/blog/?p=149</guid>
		<description><![CDATA[E-gold is rumored to be adding some US compliance rules for customer accounts and banning all auto-exchanges.  However, it's still rumor till you see it on the e-gold web site.]]></description>
			<content:encoded><![CDATA[<p>In the everyday US financial world, especially in the post 9/11 world, there  are many reasons to know exactly &#8220;who&#8221; you are doing business with on the  Internet.</p>
<p>As freedom loving people, there are also many reasons not to allow big  government a wide scope of surveillance into our daily lives.</p>
<p>Then there are those everyday circumstances when the person you are doing  business with misuses their position or misunderstands what personal information  is needed and why.</p>
<p><em>I took my dog to the vet last week for some annual shots, it was her first  time at this vet&#8217;s office. I filled out the forms, paid cash and watched on while my dog received her shots, no big deal. </em></p>
<p><em>As I exited the office and walked past the front desk, an elderly member  of their administration staff, stopped me and demanded that I complete the  office paperwork. </em></p>
<p><em>You see&#8230;I&#8217;m a freedom lover and as such&#8230; I don&#8217;t understand the requirement  to provide a Social Security number and Drivers License number so my dog can get  a parvo shot. I know, this is a very private attitude and why didn&#8217;t I just comply and stop &#8216;burning the American flag&#8217; ?</em></p>
<p><em>I had paid cash, received my &#8216;merchandise&#8217; and assumed the transaction was  complete. However, the &#8216;in charge&#8217; office worker who thought she was in charge  of me&#8230;.was now demanding my personal and private information. </em></p>
<p><em>The private employee had made it clear that </em><em>their office  policy required these &#8216;important&#8217; government issued identifiers and I was  violating their office policy. If I did not submit and provide the information then I could not return. This  woman scoffed at me like my picture appeared next to Bin Laden on the  FBI&#8217;s most wanted list and through not divulging my information&#8230;well you get  the idea. </em></p>
<p><em>I did not return to that office. In my world, cash talks and  credit checks take the walk.</em></p>
<p>After the planes hit the towers, big government began to occupy a larger more  personal space in all American&#8217;s lives. That is no secret and no surprise, but  if you are not one of the bad guys&#8230;what are you worried about?</p>
<p>If your car was not blown up today by extremists on the way to Starbucks, big government is  doing their job and you should be thankful. I am and I happen to agree. But as big  government&#8217;s rules trickle down to the little people, they become modified  or personalized and can often end up intruding on anyone&#8217;s personal liberty and  freedom. The mis-management of that personal data can get someone else&#8217;s photo  on your driver&#8217;s license a few dozen times. (ID theft)</p>
<p>It often pays to keep  your personal information private, especially if the person requesting it is  clueless.</p>
<p>In the decade plus that e-gold has been in operation, there has never been a  law on the books that says, &#8220;digital gold currency is considered a &#8216;legal  currency&#8217; &amp; the ISO currency code is XXX.&#8221; E-gold is new and innovative. So why  has big government been intruding so on e-gold?</p>
<p>Well, even without up-to-date new laws, it doesn&#8217;t take a genius  to recognize that some new technologies can be misused. The billion dollars a  year or more of e-gold customer transactions is not a case of the local office  worker complying with store policy. This is a very large operation  where the misuse of the product might be construed as hurtful to others. I know,  it&#8217;s a stretch to think such bad things might happen, work with me here&#8230;..For this  reason, it&#8217;s pleasant to see that today, e-gold seems to be adding a US compliant  customer identification requirement on certain active high dollar customer accounts.</p>
<p>Those smart folks behind the e-gold machine, are taking the proactive  initiative to work within the US system for the security and betterment of us  all.  Congratulations e-gold and I hope we will all still be using your system in the decades ahead.</p>
<p>It&#8217;s always nice to see a private America business moving towards  voluntary compliance with the spirit of the law.  Please see their web for  official information regarding all current and future policy changes.</p>
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