From: Sandy <72114.1712@CompuServe.COM>
Date: Fri, 18 Feb 94 11:05:38 PST
To: <cypherpunks@toad.com>
Subject: REAL WORLD ENCRYPTION
Message-ID: <940218185734_72114.1712_FHF62-1@CompuServe.COM>
MIME-Version: 1.0
Content-Type: text/plain


-----BEGIN PGP SIGNED MESSAGE-----

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
                         SANDY SANDFORT
 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

C'punks,

Sadly, I think the following topic is the real crux of most
people's objections to the deployment of digital banks on the
Internet.

NIGHT OF THE LIVING G-MEN--Some of you have opined that the
Federales will never give us a license and/or will go after us
once we are in business.  First, we will not have our license,
charter, offices or personnel in the USA.  We will locate our
operations only where are services are protected by the local
authorities.  Second, there is no law forbidding Americans--or
nationals of most western countries--from doing business with
foreign banks.  We and our clients will be in compliance with all
relevant laws.  Third, even if the powers-that-be don't like what
we are doing, there is very little they can do about it.  They
haven't invaded Cayman, Hongkong or the Isle of Man because of
their banking operations, I seriously doubt they will do so on
our account.

For those who will only settle for *absolute safety*, I am sorry
to say, no such thing exists in the real world.  All benefits
entail some risks.  Not creating and using digital banking,
however, may be the riskiest thing we can do.


 S a n d y

    Those who profess to favor freedom, and yet deprecate
    agitation, are men who want crops without plowing up the
    ground, they want rain without thunder and lightening.
    They want the ocean without the awful roar of its many
    waters.
                                        --Frederick Douglass

P.S.  Send UNencrypted e-mail to "sandfort@crl.com" and PGP
      encrypted e-mail to "ssandfort@attmail.com".

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

-----BEGIN PGP SIGNATURE-----
Version: 2.3a

iQCVAgUBLWUO8k5ULTXct1IzAQHdSwQAg1fuo5A5Zqst21WkyWKilbqnuHG1C2KA
lweB33dLftuu19xzQrJDyfvvZuhS1RzzXao6kDdKkYHEC4L4rwtQXaERWa0mXWU9
E/zfrXXTPoyOD3asCrg15vCrHyfWqaYRPO6lMDXzux8FdeCGuh900azqFH7fkaSn
GJhPnLwZgqs=
=AU5a
-----END PGP SIGNATURE-----