Monday, July 13, 2009

Intelligent design?

Over on Burning Our Money, Wat Tyler addresses the issue of money laundering and the ludicrous (and ineffective) legislation which now requires us to jump through hoops to prove our money is actually ours.

It's worth noting that this legislation was imposed on us through the EU and came about as the result of the emergence of the euro currency - a system whereby a number of different banks, produce a number of different notes with the same face value and which are perfectly legal in a number of countries where they can be worth more or less than they are in other countries.

It is, I suppose, an example of the law of unintended consequences, but I wonder if it is in fact possible to devise a system better suited to money laundering than the euro currency?

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