Great Newsweek Article - Prohibition II

**lots0** · 19th October 2006, 05:28 PM

I can't log into neteller this morning...

OK - They are back up now... what a heart rush...

**jetset** · 19th October 2006, 05:28 PM

Originally Posted by tennis_balls

i'm confused.

the way i read this Neteller is going to continue to operate as usual until the federal reserve sorts things out. won't that take months to happen?

That's the way I interpret this, too. But long term this is going to make things that much more difficult. It would have been nice to see at least one powerful company showing some real resistance.

**spearmaster** · 19th October 2006, 05:38 PM

Originally Posted by jetset

That's the way I interpret this, too. But long term this is going to make things that much more difficult. It would have been nice to see at least one powerful company showing some real resistance.

This may not actually be as bad as it looks.

For the time being, Neteller operates as normal - pending the 270 days in which the Fed has to come up with guidelines on how to implement the necessary procedures to block payments from US residents.

But, as some of you may recall, it is commonly believed that the Fed will never be able to come up with these guidelines within the time limit - not to mention the fact that the banks are still railing against this legislation.

Many people believe that the financial institutions will not see the required guidance from the Fed any time soon. I sure hope that in the intervening time period, the NEW representatives in Congress wake up and smell the roses!

**jetset** · 19th October 2006, 06:23 PM

I admire your optimism, Ted!

**spearmaster** · 19th October 2006, 06:40 PM

I used to belong to the "glass is half-empty" camp. Also known as "greener on the other side" camp.

Every now and then I stray back over, but for the most part I think I've learned how to see the better side of things.

**Mister** · 19th October 2006, 07:12 PM

Thank you JetSet and Spearmaster for shedding some thought on that...For now, I'm going to force my optimism meter back up...Seems like its becoming more of a Jedi mind trick and I'm not very good at it..haha.

**Pinababy69** · 19th October 2006, 07:30 PM

Originally Posted by Mister

Seems like its becoming more of a Jedi mind trick and I'm not very good at it..haha.

Perhaps Darth Vader can help you....

**Darem1** · 19th October 2006, 07:35 PM

Speaking of wishful thinking, I changed my avatar. And no, not even close!

Sorry to hear about Neteller. I had taken out my $$ but was intending to use them again in the no so distant future if I could find a decent casino to accept this sinner from the USA!

**cipher** · 19th October 2006, 11:02 PM

Originally Posted by spearmaster

This may not actually be as bad as it looks.

For the time being, Neteller operates as normal - pending the 270 days in which the Fed has to come up with guidelines on how to implement the necessary procedures to block payments from US residents.

But, as some of you may recall, it is commonly believed that the Fed will never be able to come up with these guidelines within the time limit - not to mention the fact that the banks are still railing against this legislation.

Many people believe that the financial institutions will not see the required guidance from the Fed any time soon. I sure hope that in the intervening time period, the NEW representatives in Congress wake up and smell the roses!

Hi Spear:

At best it's a looooooong shot that any of these bone heads even have the capacity to wake up and smell the roses.

Have a good one.

**spearmaster** · 20th October 2006, 12:22 AM

Originally Posted by cipher

Hi Spear:

At best it's a looooooong shot that any of these bone heads even have the capacity to wake up and smell the roses.

Have a good one.

Well, hopefully we're talking about NEW boneheads after the elections... and secondly, I can just see the Fed dropping its efforts to defend the dollar just so they can get this new Prohibition banking legislation ready.... um, not