Trade With Bowles

Most people don’t know it, but Jesus had one heck of a right… and a pretty good uppercut too.  Notice the original Mt. Gox version 1.0 table overturned.

Trade with Dave: Things are heating up in the Bitcoin/JPMorgan/Means Testing world and if you ask Dave the Fed is officially in the game via the Department of Homeland Security.
Dave has written numerous times in the past about the Hegelian synthesis of Bitcoin.  To put it in a single sentence, Bitcoin loses a bit of its utility if the internet goes away and the internet goes away if PGP gets cracked.  The irony of that, if you ask Dave, is that the only distributed computing network with the power to hack PGP will be the Bitcoin network in the next couple of decades.  Hmmm?

Max Keiser has been quite discerning if you ask Dave when it comes to his correlation between Bitcoin and Jesus Christ.  Max has referred to the most likely fictional Satoshi Nakamoto (supposed creator of Bitcoin) as “the cyberchrist”.  Jesus Christ did turn over the tables of the money changers in the temple.  Bitcoin appears to be turning over the money changers at the Fed, at least to the point that they have rousted certain individuals in Maryland from their prosecutorial slumber (most likely the result of the Breurian ripple effect) long enough to issue a Department of Homeland Security warrant.
  To add insult to the $17 million just invested in Dwolla last month, Janet Napolitano went so far as to injure the money changers over at Mt. Gox via a confidential informant/customer in Maryland.  I guess it’s time for a Patriot Act refresher course in “know thy customer.”
Forbes play-by-play here: http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/
Artechnica on what happens if you are a money transmitter without a license: http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/

Mt. Gox Statement Regarding DHS court Order

TOKYO – JAPAN – May 15, 2013 – MtGox has read on the Internet that the United States Department of Homeland Security had a court order and/or warrant issued from the United States District Court in Maryland which it served upon the Dwolla mobile payment service with respect to accounts used for trading with MtGox. MtGox takes this information seriously. However, as of this time MtGox has not been provided with a copy of the court order and/or warrant and does not know its scope and/or the reasons for its issuance. MtGox is investigating and will provide further reports when additional information becomes known.
Regards, Mt.Gox Co. Ltd Team.
Adam L. Penenberg for Pando Daily on the religion of Bitcoin:
http://pandodaily.com/2013/05/15/give-me-that-old-bitcoin-religion/
Here’s how Dave commented this morning relative to Adam’s article on Bitcoin:

Since you are highlighting the parallels between Jesus Christ and a cyber christ, how large would a distributed computer network need to be if every transaction in the world were occurring on that network.  In other words, “they could not buy or sell unless the had bitcoin, or at least the number of their bitcoin account.”  Wasn’t there a mainstream press article last week about everyone in the world getting a mobile phone sooner rather than later?  To take the idea one step further, how large of a computer network would be required to hack PGP?  Based on the current rate of growth of Bitcoin, from a Moore’s law perspective, when does the Bitcoin distributed network achieve that scale… twenty years, maybe thirty?  Throw in a 51% hard fork of Bitcoin, a charismatic leader, PGP finally hacked and the result would be the ultimate kill switch for the internet… no?  Sounds like a type of christ to me, just not the Jesus type (Revelation 13:17). 
One other thing, within such a “theoretical” network, with the double-spend resolved every transaction could be means tested.  How convenient for complying with Simpson-Bowles means testing.  “No soup for you… come back one year” if you had already received your government allowance of soup… or cigarettes or Thunderbird fortified malt beverage.  To pull something like that off would require close coordination between government (in this case Erskine Bowles) and JP Morgan’s board of directors (in this case Crandall Bowles). That’s asking a lot.  
In unrelated news where the only conflict of interest being highlighted for JP Morgan board member Crandall Bowles is her use of JP Morgan’s investment bank for advisory services on the sale of a division of Springs Industries.  Thankfully there is no mention of the connection between silver manipulation (dismissed by a 90 year old judge) the collapse of eligible gold in JP Morgan’s vault (nothing to see here folks… literally nothing… no gold – per Harvey Organ: Because if one ignores the 100k or so ounces of Registered gold that were reclassified to replenish eligible inventory, JPM’s eligible gold would, as of right now, be down to a negligible 36,931 ounces, or just over 1 ton!) or the fact that the same system JP Morgan manages for the welfare funds distribution could be utilized to block (think Bloomberg terminal meets Twinkie Nazi) your cream filled treat purchases via means testing your $200,000 bid for Hostess Twinkies on E-bay.
Thankfully for Mrs. Bowles, there is no mention of potential conflicts of interest in that her husband is Erskine Bowles, the man behind the means testing that is coming to a Wal-mart near you quicker than you can say Bitcoin blockchain.  But some folks would like to see her move along due to other conflicts of interest.  She seems like a nice enough lady and a business success in her own right.  Dave has to admit that if his wife was getting $200,000+ per year to sit on the JPM board of directors, I would let her eat Saltines in bed even if they were means tested crackers from Wal-mart (no Twinkies please sweetheart… you look too good).

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