FBI Raids: Pertinent or Paranoid?

Business always moves faster than government …

It’s no surprise that a great deal of lawmakers’ time is spent reacting to advances in commerce and science. It’s also no surprise that one of their favorite tactics is to call on their enforcement agencies to bring scrutiny against any topic about which they’re struggling to understand.

We’re now seeing this applied against at least two e-currency operations.

One of them, INT Gold, saw their head offices in Texas raided by the FBI in December. No arrests were made and no disclosures were presented to indicate the reason for their actions. The only auspices mentioned were that they were pursuing an ongoing fraud investigation. It’s now been over a month and nothing further has happened.

At roughly the same time, e-Gold was also served with a search warrant. It seems the justification was petty — they allegedly didn’t have a ‘required’ currency-exchange license — and they were upset enough to place the following posting on their website:

e-gold welcomes US Government review of its status as a privately issued currency January...