Quote from: dan99 on May 16, 2013, 08:50:38 AM

The special agent then explains what appears to be the smoking gun: Karpeles specifically denied he was going to get into the currency exchange business. The warrant reads:

   As part of the account opening process, Wells Fargo required Karpeles and Mutum Sigillum LLC to complete a "Money Services Business (MSB) Accounts, Identification of an MSB Customer" form. That document was completed on May 20, 2011 and identified Mutum Sigillum LLC as a business not engaged in money services. The application asks several questions; to include, "Do you deal in or exchange currency for your customer?" and "Does your business accept funds from customers and send the funds based on customers' instructions (Money Transmitter)?" Karpeles answered these questions "no," indicating that Mutum Sigillum LLC does not deal in or exchange money, and that it does not send funds based on customer instructions.

   Money transmitting businesses are required by 31 USC section 5330 to register as such with FinCEN. According to FinCEN records on May 6, 2013, neither Mt. Gox nor the subsidiary, Mutum Sigillum LLC, is registered as a Money Service Business.

The agent then gives a brief description of how Mt. Gox deals in the "crypto-currency" of Bitcoin:

   Mt. Gox acts as a digital currency exchange where customers open accounts and fund the respective accounts with fiat currency, which is then exchanged into crypto-currency by Mt. Gox; the crypto-currency is known as bitcoin. Fiat currency simply refers to any money that a government has declared to be legal tender. The exchange is bidirectional and allows customers to also exchange bitcoins back into fiat currency, and then withdraw those funds. The exchange of fiat currency and bitcoins incurs a floating rate fee charged by Mt. Gox and is determined by the customer's aggregate amount of funds exchanged on a monthly basis. "

Legally, Mt Gox is a (deregulated) Over The Counter Derivative-Token Marketplace, it cannot be rightly regarded as a (regulated) "trading exchange".

The case-law flaw here is in falsely mis-identifying a Bitcoin Over the Counter Credit-Swap Derivative token as the "currency" of a national-socialist "economy".

So the second paragraph must (lawfully) read:

"Mt. Gox acts as a digital Over the Counter Credit Swap Derivative Token trading marketplace where customers open accounts and fund their respective accounts with fiat currency, or with Over the Counter Credit Swap Derivative Tokens they have obtained elsewhere, which they may trade there, primarily to obtain Over the Counter Credit Swap Derivative Tokens through the Mt. Gox derivative token trading marketplace; the Over the Counter Credit Swap Derivative Token is known as a bitcoin. Fiat currency simply refers to any nation's currency that a government has declared to be it's nation's current legal tender (money). The un-regulatable, international Over the Counter Derivative Token trading marketplace is bidirectional and allows customers to also occasionally sell their bitcoins to others for their other respective fiat currencies, and then withdraw whatever new purchasers' funds they may so later deserve through the Mt Gox marketplace. The purchasing and auctioning of bitcoins incurs a floating rate auction fee charged by Mt. Gox and is determined by the customer's aggregate amount of bitcoin derivative tokens traded on a monthly basis."

A Bitcoin is not a nation's national-socialist economic legal tender, money nor an international exchange "currency" of any trading nation. It is merely the derivative-token of a (most recent) Credit Swap transaction that has occurred in it's past. It has no exchange-value until or unless it can be resold for some new value to a new owner, again.

So, where Mt Gox may be in trouble with the Tory-Bilderberg ZioNazi Waffen-SS Wehrmacht is in exchanging the currencies of foreign buyers into Private Federal Reserve Printing Company "They Owe Us" notes to pay American sellers, since "American" citizens of the Union of ZioNazi Socialist Republics (U.Z.S.R) do not buy any "currency" there, though they can sell things (that cannot be easily detected, confiscated, smelled nor felt through their underwear) there and may, possibly obtain "exchanged currency" value that may have originated from other foreign buyers, from the marketplace, arising from the resale of them by that marketplace.

Of course one would have to prove that a non-American terrorist-customer (who was not hiding in his wife's underwear at an airport) purchased a particular bitcoin derivative DIRECTLY from an American ZioNazi and his foreign terrorist-currency was then exchanged by Mt Gox into (U.Z.S.R.) ZioNazi currency for that specific foreign terrorist. But once an American ZioNazi places a "sell order" that derivative is technically sold to the "intermediary trading marketplace" who then collect from the purchaser, foreign terrorist currency-funds necessary to compensate the ZioNazi seller that they bought it from, in ZioNazi "currency". There is no way to prove nor disprove that, or if, other "American" ZioNazi's are not the buyers, from whence the ZioNazi funds came. One cannot also disprove that Mt Gox may also occasionally have to go to a "currency exchange" itself to pay it's bills to it's clients where, as or when needed, in national socialist fiat "currencies" appropriate to them.

A Bitcoin functions exactly in much the same way as a "traded" Credit Default Swap (CDS). You fund it's former owner's "loss" (defaulted costs) on it now, and the next owner (you trade it with or back to,) hopefully, then funds yours, later. It neither has, contains nor is backed by any currency-exchange value other than faith. It is legally the same as all other exchange traded derivatives which are specifically deregulated to favor the banksters who invented and use them (like loss-ping-pong instruments) to fix stock and bond "market prices" with. The Bitcoin is however technically not about a "defaulted credit" it is about a "previously funded credit", but, that "credit" has no certain value! Therefore it is a (previously) Funded Credit Swap Derivative. It's theoretical or imagined future "exchange value" exists solely in the faith of the mind of it's holder, and it is backed as a "currency" by no national socialist economic trading nation.

The Mt Gox Marketplace only facilitates the buying and selling of Digital Over The Counter Credit Swap Derivative Tokens, known as "Bitcoins" and or "Altcoins" etc. They do not directly or indirectly convert or exchange any "currencies", as any matter of the implicit character of their business, although thy may accept currencies that they must later exchange elsewhere, to settle the respective accounts of their clients.

A Bitcoin is a commercial "over the counter (OTC) derivative" of the most recent-past credit swap value and future possible credit swap values of itself and it's network, which are only (at best) completely deregulated Commercial Resources, and neither "commodity futures" nor "securities" as per the CFMA of 2000. nor a legal tender "money" or a "currency" of the current trade balance export valuation of any national economy.

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

Either you are with The Constitution or you are with The Terrorists, Mr Bush!