Re: Digital cash market

At 05:16 PM 8/21/94 -0500, Jim Hart wrote:

>At this point Duncan Frissel will regail us with some wonderful
>scheme, understandable only to lawyers, that can be used to
>get credit cards under aliases, perfectly legal if you
>use a doubly nested corporate structure going through Aruba
>and the Caymans, and the IRS and FBI don't decide to get
>to get you on some technicality Duncan failed to mention.

I can't recall any time I've laid out a complicated structure to avoid the
privacy invaders.  Most of my techniques are simple and depend merely on a
willingness to not do the conventional things that other people tell you are
necessary if you are to prosper.  

In fact, hasn't Tim May actually accused me of offering solutions that are
too simple and that are not based on careful and exotic Harry Margolis sort
of International Tax Planning?

The many people who have gotten anonymous Visa and Mastercard credit cards
for example have used the simple scheme of applying for a secured credit
card in a nome de guerre.  Others have opened bank accounts in convenient
names that come with Visa debit cards.  It is actually easier than it has
ever been to obtain credit cards in names other than your own.  Signet Bank
is promoting it's secured credit card with TV ads.

>The surprisingly large number of folks who actually do go to Frissell style
>lengths is proof that there are plenty of peope who care about privacy.  

Gee, I wish you could convince my wife that I "go to great lengths."  She
always accuses me of taking the easy way out.  <G>

DCF

"How is it that the bulk of the 'Great Unwashed' manage to stand out in the
pouring rain and never get wet?  Persons of all ages whine these days about
how tough and boring things are even though there are more exciting and
profitable things going on in the world today than ever before in human
history."

Duncan Frissel:
> The many people who have gotten anonymous Visa and Mastercard credit cards
> for example have used the simple scheme of applying for a secured credit
> card in a nome de guerre.  

How is this simple?   A credit card company sure as hell wants
to known who you truly are and where you truly live.  It must
be able to collect its debt and mark your credit rating.
Applying for a credit card with false name or Social Security 
number is fraud, with heavy punishments.  Or are there, yet 
again, numerous details you are neglecting to mention?

Jim Hart
hart@chaos.bsu.edu

> 
Jim Hart> 
> Duncan Frissel:
> > The many people who have gotten anonymous Visa and Mastercard credit cards
> > for example have used the simple scheme of applying for a secured credit
> > card in a nome de guerre.  
> 
> How is this simple?   A credit card company sure as hell wants
> to known who you truly are and where you truly live.  It must
> be able to collect its debt and mark your credit rating.
> Applying for a credit card with false name or Social Security 
> number is fraud, with heavy punishments.  Or are there, yet 
> again, numerous details you are neglecting to mention?
> 
 I called Dave Lovejoy, a longtime credit manager and currently product
line manager for Data Rental's line of credit retrieval terminals. He confirmed
for me what I had always understood; with _secured_ credit cards, no one
really cares who you are, as you have secured your card with a cash
deposit (typically 110% of your limit) and collection is no problem.

I have no idea as to the legalities of all this.

BTW Data Rentals is one of the major suppliers of credit retrieval equipment
to credit grantors, marketing towards the small-to-medium sized operations
(that is, those who don't buy their reports directly from the bureaus on tape.)
I wrote the software for their DRS-2000 automated credit terminal, as well
as their credit cartridge for the TI 700 printing terminal.


JJH
--

App. this didn't make it out to the list the first time.
Sorry if you get this twice!

Jim Hart> 
> Duncan Frissel:
> > The many people who have gotten anonymous Visa and Mastercard credit cards
> > for example have used the simple scheme of applying for a secured credit
> > card in a nome de guerre.  
> 
> How is this simple?   A credit card company sure as hell wants
> to known who you truly are and where you truly live.  It must
> be able to collect its debt and mark your credit rating.
> Applying for a credit card with false name or Social Security 
> number is fraud, with heavy punishments.  Or are there, yet 
> again, numerous details you are neglecting to mention?
> 
 I called Dave Lovejoy, a longtime credit manager and currently product
line manager for Data Rental's line of credit retrieval terminals. He confirmed
for me what I had always understood; with _secured_ credit cards, no one
really cares who you are, as you have secured your card with a cash
deposit (typically 110% of your limit) and collection is no problem.

I have no idea as to the legalities of all this.

BTW Data Rentals is one of the major suppliers of credit retrieval equipment
to credit grantors, marketing towards the small-to-medium sized operations
(that is, those who don't buy their reports directly from the bureaus on tape.)
I wrote the software for their DRS-2000 automated credit terminal, as well
as their credit cartridge for the TI 700 printing terminal.


JJH
--