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New Massive Federal Database To Hold Financial Information of 100s Of Millions of Americans

Tyler Durden's picture




 

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

The war on privacy continues unabated, as the U.S. government continues to prove time and time again that it views the citizenry as a bunch of cattle to be branded, herded and dealt with at will. It doesn’t seem to bother anyone in the establishment that the public has lost all faith in institutions and so-called “authority” (a concept which I do not believe in to begin with). The evidence of a growing number of Orwellian databases being created has been available for quite some time. Most recently, I covered this topic in the following articles:

FBI Plans to Have 52 Million Photos in Facial Recognition Database by 2015

Guess What’s Hidden in the Immigration Bill? A National Biometric Database for Citizens

Moving along, the public faces another sinister and unacceptable invasion to our privacy. A national financial database is being planned, which would contain the most intimate details of our entire financial lives. It may apply to as many as 227 million Americans. We learn from the Washington Examiner that:

As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives — including their Social Security numbers — in a new national database being assembled by two federal agencies.

 

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy.

 

FHFA will manage the database and share it with CFPB. A CFPB internal planning document for 2013-17 describes the bureau as monitoring 95 percent of all mortgage transactions.

 

FHFA officials claim the database is essential to conducting a monthly mortgage survey required by the Housing and Economic Recovery Act of 2008 and to help it prepare an annual report for Congress.

 

Critics, however, question the need for such a “vast database” for simple reporting purposes.

 

In a May 15 letter to FHFA Director Mel Watt and CFPB Director Richard Cordray, Rep. Jeb Hensarling, R-Texas, and Sen. Mike Crapo, R-Idaho, charged, “this expansion represents an unwarranted intrusion into the private lives of ordinary Americans.”

Mel Watt is one of the slimiest members of Congress, and that’s saying a lot.

Critics also warn the new database will be vulnerable to cyber attacks that could put private information about millions of consumers at risk. They also question the agency’s authority to collect such information.

Excellent. Once a cyber attack does compromise this idiotic database then we will be told we must give the NSA even more power to protect us from their own screwup. As usual.

The two agencies will also assemble “household demographic data,” including racial and ethnic data, gender, marital status, religion, education, employment history, military status, household composition, the number of wage earners and a family’s total wealth and assets.

 

The mortgage database is unprecedented and would collect personal mortgage information on every single-family residential first lien loan issued since 1998. Federal officials will continue updating the database into the indefinite future.

 

FHFA has two contracts with CoreLogic, which boasts that it has “access to industry’s largest most comprehensive active and historical mortgage databases of over 227 million loans.”

 

Cordray confirmed in his January testimony that CoreLogic had been retained for the national mortgage database.

 

“When you look at the kinds of data that are going to be collected on individuals, just about anything about you is going to be in this database,” he told the Examiner in an interview.

 

Meyster said she was unconvinced. “It seems they’re just adding information and they’re not really stating where it’s going or what it’s going to be used for. There’s no straightaway answer. They say they are trying to assemble as much information that they can.”

 

The Chamber of Commerce said that while Congress did ask for regular reports, it never granted FHFA the authority to create the National Mortgage Database.

 

“Congress did not explicitly require (or even explicitly authorize) the FHFA to build anything resembling the NMD,” the Chamber told Watt in its May 16 letter.

Oh so the agencies are just acting like tyrants without Congressional approval? Shocker.

A December report from the Government Accountability Office on breaches containing personally identifiable information from federal databases shows unlawful data breaches have doubled, from 15,140 reported incidents in 2009 to 22,156 in 2012.

Full article here.

 

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Sun, 06/01/2014 - 15:05 | 4814781 Tinky
Tinky's picture

Not to worry – for $29.95/month you can opt-out.

Sun, 06/01/2014 - 15:31 | 4814844 XitSam
XitSam's picture

But won't my $29.95 purchase put me back in the database?

Sun, 06/01/2014 - 15:39 | 4814858 Headbanger
Headbanger's picture

So what!?  There's been a massive financial database ever since Federal Income Taxes and especially with credit cards.

 

But.. If we really want to fuck em up completely.. Everybody change your name to "Pat Smith" and only use cash.

That'll fix em!

 

And for all you Pat Smiths already out there:

Better have your next family re-unions catered.

Sun, 06/01/2014 - 15:39 | 4814868 Anusocracy
Anusocracy's picture

People get the government that they are stupid enough to accept.

Sun, 06/01/2014 - 15:42 | 4814873 Looney
Looney's picture

The Wealth Tax is coming – they want to tax all assets, including real estate, savings and checking accounts, 401K’s, CD’s, stawks, bawnds, gold, silver, everything… every fucking thing… That’s why they are quietly preparing the Wealth Databases. I think?

Looney

Sun, 06/01/2014 - 16:13 | 4814970 CH1
CH1's picture

Don't worry, the hackers will ride in, give you Free Shit, and save the day!

/s

Suckers.

Sun, 06/01/2014 - 16:51 | 4815053 aVileRat
aVileRat's picture

Whitehat is so 2002. Wondering when the NRA will get in on the digital right to carry arms (rootkits).

 

http://techcrunch.com/2014/06/01/nsa-facial-recognition/

 

Sun, 06/01/2014 - 16:54 | 4815059 NidStyles
NidStyles's picture

I still get a chuckle from the techheads that think they can fight the gubermint folks from their cubicle and keyboard. 

Sun, 06/01/2014 - 17:33 | 4815142 MontgomeryScott
MontgomeryScott's picture

Well, since I'm not doing anything wrong, I KNOW they aren't trying to track and save MY information.

It's those other 227 million!

Let me see:

The number of children in the CONUS might add up here. 315-227 equals 88.

Do you mean to tell me that there are 88 MILLION CHILDREN still alive in the CONUS that haven't yet been enrolled in the 'free credit card' thing?

Sun, 06/01/2014 - 16:55 | 4815060 NidStyles
NidStyles's picture

I'm telling you, poverty by choice is the preferred situation of the future. 

Sun, 06/01/2014 - 18:41 | 4815299 Bunga Bunga
Bunga Bunga's picture

People learned from Cyprus. Now the haircutters have to get a bit more sophisticated.

Mon, 06/02/2014 - 01:15 | 4816046 TheReplacement
TheReplacement's picture

If we are lucky, they are only looking for wealth.  Imagine Stalin, Hitler, Mao, PolPot or any other brutal tyrant with that kind of insight into the population they were terrorizing.

Tue, 06/03/2014 - 03:05 | 4819416 SilverRhino
SilverRhino's picture

>> .... and a family’s total wealth and assets... << 

That's EXACTLY what's coming.   

If it's in the banking system or they track purchases from EVERYWHERE you have used a debit card they will have an idea of what you have.  


Sun, 06/01/2014 - 16:42 | 4815036 Anusocracy
Anusocracy's picture

Control is a powerful force for survival in nature.

Freedom runs counter to control.

Your Lords and Masters detest freedom as much as they love control.

Sun, 06/01/2014 - 21:41 | 4815696 Chupacabra-322
Chupacabra-322's picture

The goal of these Criminals Psycopaths was to build a massive Global data base of individual Psychological profiles, threat assessments & dosiaires of every man, woman & child on the planet to be used for pure Evil purposes / control.

Sun, 06/01/2014 - 19:12 | 4815349 omniversling
omniversling's picture

"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors." - Plato

"Politicians are the price society pays for not engaging in politics" - Omniversling

Mon, 06/02/2014 - 00:19 | 4815974 Anusocracy
Anusocracy's picture

Only inferior people need or want government.

It is a product of combining our animal past with technology.

Sun, 06/01/2014 - 15:50 | 4814903 Telemakhos
Telemakhos's picture

Linda Green.

Sun, 06/01/2014 - 16:13 | 4814968 Stuck on Zero
Stuck on Zero's picture

Another way to fix the database is to execute hundreds of millions of penny stock trades.  That should be bullish for hard drives.

 

Sun, 06/01/2014 - 17:51 | 4815186 No Zbig Deal
No Zbig Deal's picture

I promise you, there WILL be an open bar...

Sun, 06/01/2014 - 15:36 | 4814859 duo
duo's picture

better yet, pay off your house or use unsecured credit.  Not available in CA, HI, NY, CT or IL.

Sun, 06/01/2014 - 21:23 | 4815644 doctor10
doctor10's picture

Only a matter of time before our creditors asserted ownership of Fed. Gov. Wait'll you see how they intend to collect.

Sun, 06/01/2014 - 15:09 | 4814792 williambanzai7
williambanzai7's picture

Will it get you into Price Club?

Sun, 06/01/2014 - 16:10 | 4814959 Eeyores Enigma
Eeyores Enigma's picture

Because if your not consuming you must be conspiring.

 

Sun, 06/01/2014 - 17:51 | 4815188 MontgomeryScott
MontgomeryScott's picture

No, no, NO!

It's 'CONSUMERING'.

Sun, 06/01/2014 - 17:48 | 4815179 MontgomeryScott
MontgomeryScott's picture

Your youthful exuberance belies your real intent.

Before your acceptance in to such as 'FEDCO', you must take baby steps, young William.

LISTEN:

When the offer to become a member of 'Sam's Club' and 'Wall-Mart' paper your mailbox with a continuous flood, you might be careful and understand that they actually WANT you (you know, 'that way'). You have to TEASE them, by logging on, and retracting (or doing a 'System Restore').

'Price Club' sounds SO DANGEROUS! Is it a LARGE comglomerate? I had a FEDCO card once, and it was SO OVERWHELMING...

 

Tue, 06/03/2014 - 08:45 | 4819708 Redhotfill
Redhotfill's picture

Didn't they merge with COSTCO?

Sun, 06/01/2014 - 15:11 | 4814799 I am Jobe
I am Jobe's picture

Sheeples will be happy with this decision. They are feeling safe , now let the EBT continue along with BEATS headphones this time for Christmas. 

 

Sun, 06/01/2014 - 15:12 | 4814801 Racer
Racer's picture

The current figures on  'data' they put out is pure fiction, so they want facts so they can report on them? Once they gather all the facts it will be put though a grinder and more propaganda released

Sun, 06/01/2014 - 15:17 | 4814810 inky
inky's picture

President Obama has just signed a new law that everyone is a terrorist apart from him.

 

Sun, 06/01/2014 - 17:20 | 4815112 Colonel Klink
Colonel Klink's picture

I think you meant Executive Order!

Mon, 06/02/2014 - 01:18 | 4816050 TheReplacement
TheReplacement's picture

What exactly is the difference as far as we on the recieving end are concerned?

Mon, 06/02/2014 - 17:04 | 4818028 XitSam
XitSam's picture

Hey, only dictators like Hitler can write their own laws .... uh oh.

Sun, 06/01/2014 - 15:16 | 4814811 Robot Traders Mom
Robot Traders Mom's picture

Good article, Mike.

There is no way out. Even moving out of the country won't guarantee your privacy. The PTB are well on their way to a global government. Now, if the Congress would just officially open the border with Mexico we'll get our new world order a lot sooner...

www.TopTheNews.com

Sun, 06/01/2014 - 15:19 | 4814819 NOZZLE
NOZZLE's picture

You mean like 23andme where you send  in your saliva, they tell you where your ancestors are from and if you have any genetic defects and promise to keep your profile secret. 

Sun, 06/01/2014 - 15:22 | 4814822 813kml
813kml's picture

The man who came to do some yardwork at my mother's house yesterday had an interesting story.  His son got pulled over a couple of months ago and was arrested for driving with a suspended license, which came as quite a surprise.  The confusion was later sorted at his hearing.  Apparently, Jackson Hewitt accidentally listed him as blind on his last tax filing (not sure if this year's or last year's) and the IRS in turn shared that information with state police who promptly suspended his license.

Truth is stranger than fiction, the prosecutor congratulated him on the restoration of his sight after the case was dismissed.

Sun, 06/01/2014 - 15:33 | 4814846 ebworthen
ebworthen's picture

California, New York, or Illinois?

Sun, 06/01/2014 - 16:27 | 4815001 RaceToTheBottom
RaceToTheBottom's picture

The kid should file for all the disability he has had since he became blind

Sun, 06/01/2014 - 16:47 | 4815042 813kml
813kml's picture

He already has a lawyer working on a lawsuit against Jackson Hewitt.

Sun, 06/01/2014 - 15:22 | 4814823 SpanishGoop
SpanishGoop's picture

All your personal and private information belong to us.

 

Sun, 06/01/2014 - 15:24 | 4814826 G.O.O.D
G.O.O.D's picture

You know what? It is nice to be old enough to not give a fly rats ass anymore. I dont care if the bastards have a 10 foot thick portfolio on everyfvkinthing that moves because I cant see how they are going to gain a damn thing from it other than create more useless jobs sitting in front of the comps.

Sun, 06/01/2014 - 15:33 | 4814848 t0mmyBerg
t0mmyBerg's picture

You know what?  Then fuck you you worthless sack of shit.  They are counting on 99 out of 100 Americans reacting just like you.  And so it will be.

Sun, 06/01/2014 - 17:33 | 4815146 Keegan11
Keegan11's picture

"Yeah, fuck off Jim!"

Mon, 06/02/2014 - 01:23 | 4816054 TheReplacement
TheReplacement's picture

Are you white?  White people are being executed today.  Not white?  Perhaps you are going to die, I mean a gun owner.  No?  Ever look at porn online, drive a vehicle that got less than 60 miles to the gallon, eaten steak on Friday...  The list will be long and, no matter how ridiculous, lethal.  People are going to die because of this.  A Stalin/Hitler/Mao type will eventually take power and then it is off with your head if you wear blue on her birthday.

Sun, 06/01/2014 - 15:24 | 4814828 orangegeek
orangegeek's picture

Learn the system and then leverage it.

Mon, 06/02/2014 - 01:24 | 4816057 TheReplacement
TheReplacement's picture

You mean sell out your friends and neighbors?  How exactly can you leverage this for any kind of good?

Sun, 06/01/2014 - 15:34 | 4814849 nmewn
nmewn's picture

Mel Watt: Whats the deal with this nmewn guy? Every other Wed we see a payroll deposit and every other Fri we see the account drawn down to thirty bucks but it never re-appears in another account? Whats his cell phone GPS location right now?

Worthless scumbag underling number one: It shows him moving west on I-10.

Mel Watt: Do we have confirmation by the RF chip in his SunPass toll clicker?

Worthless scumbag underling number two: No sir. It shows him moving south on the Veterans Expressway.

Mel Watt: And the cameras on the toll road...is it his vehicle?

Worthless scumbag underling number two: Yes.

Mel Watt: Good. Now we know.

(Knock on the door)

Mel Watt: Come!

Nmewn: Hello, Mr.Creedy ;-)

Sun, 06/01/2014 - 15:57 | 4814923 Telemakhos
Telemakhos's picture

I-10.  One of the few places I've ever been pulled for "speeding."  The usual MO: "You were clocked doing [improbable number probably not attainable in my car], but because I'm a nice guy I'll write this down to nine miles over the limit."  Baker County apparently rakes in $90K off their interstate every month.

Sun, 06/01/2014 - 16:34 | 4815016 nmewn
nmewn's picture

They love ya around Madison county all the way to Tally on I-10 too.

If you go south on 75, watch it from Lake City all the way through Micanopy (pronounced Mick-can-oh-pee) they like to hang out on the southside of Paines Prarie.

And Lawtey and Waldo are well known world wide as speed traps on US301, they'll get you for going five over. It funds both towns to a large degree.

Its basically legalized theft...humming the Highway Man song ;-)

Sun, 06/01/2014 - 18:50 | 4815315 Telemakhos
Telemakhos's picture

Everything on 301 is a speed trap.  Triple-A puts up billboards along the road warning of the worst areas.  Tallahassee is, however, working on cleaning up parts of 301.  Apparently the locals busted a state representative who vowed to wipe the town of Hampton off the map.  While the town is going to remain incorporated, they fired their police department (apparently including "Rambo") and are de-annexing their stretch of 301.

Interesting off-topic factoid: Micanopy's pronunciation results from its older, Latinate name, Micanopia, whose accent fell on the antepenult.  The locals just lopped off the -a and kept the accent on the same syllable.

Sun, 06/01/2014 - 15:34 | 4814850 ebworthen
ebworthen's picture

Next step is to get rid of tangible currency.

"Cash is for Criminals" bumper stickers and online banners free from DHS.

Sun, 06/01/2014 - 15:35 | 4814852 Smegley Wanxalot
Smegley Wanxalot's picture

Hahaha!  The last laugh is on the NSA because that mortgage database isn't going to do them any good when the whole nation is homeless.

Sun, 06/01/2014 - 15:36 | 4814854 bugs_
bugs_'s picture

just irs 2.0 - only this one is Y2K compliant unlike the last one - lets hope this one fails to be Y2038 capable.  note that this new database is "planned".  too be or H1B vaporware.

Sun, 06/01/2014 - 15:35 | 4814855 ShrNfr
ShrNfr's picture

Err, that article is over a year old. What is in the current bill???  http://www.wired.com/2013/05/immigration-reform-dossiers/ Not saying that it isn't there, but it would be nice not to cite a year old Wired article on it.

Sun, 06/01/2014 - 15:36 | 4814861 q99x2
q99x2's picture

Well holy Q99X2 what did you expect from a Washington D.C. based government responsible for attacking the World Trade Centers in NYC and the United States of America. Did you think they were going to be friendly foe? Did you think they would stop killing you if you publicized what they were doing? Face it. They are not going to stop until they are locked up and prosecuted.

Sun, 06/01/2014 - 20:59 | 4815574 Chupacabra-322
Chupacabra-322's picture

For the last time. It's not a Govenment, only in name & definitely not in a functional sense.

It's a Criminal Fraud entity UNITED STATES, COPR. INC. Chartered in Delaware "posing" as a functional Government of the people, for the people & by the people.

The CEO & Foreign Agents posing as our Representaives are in reality all Fruadulent Criminals.

Sun, 06/01/2014 - 15:37 | 4814864 kchrisc
kchrisc's picture

Dear Latest IRS Victim,

A random-targeted audit found that you recently purchased a few boat items at Joe's Boat Supply. No one in your family or immediate circle has a boat that you could have gifted those items to. Therefore we have determined that you are in possession of a boat.

Your records further indicate that, at your level of enslavement to us and the banksters, a boat is not affordable. As a result, we have found that you have failed to declare income and have laundered it into a boat. Subsequently, we are seizing $1,457.87 from your bank account as tax, interest and penalties for non declaration of income and another $2,546,37 fine for money-laundering.

If you feel that this assessment is in error, please bring all documents from the prior 11 years, a urine sample, a letter from your deceased mother and a horn from a Siberian unicorn to our local office in Nome, Alaska.

We will review your case promptly and notify you of our decision in 156 months.

Sincerely,

The Main Thieves of the DC US

Sun, 06/01/2014 - 17:37 | 4815156 RiverRoad
RiverRoad's picture

I sure hope your gold was in that boat when you had that accident.

Sun, 06/01/2014 - 15:39 | 4814867 stant
stant's picture

Time will come when they cant borrow past my great grand kids,They will then come for everything not nailed down. And then come back with a crowbar.

Sun, 06/01/2014 - 15:48 | 4814895 MsCreant
MsCreant's picture

Pay them in lead, copper, and steel. 

Sun, 06/01/2014 - 15:44 | 4814885 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

An old Wim Wenders film, it's dystopia, and a couple on the run try and use cash to buy a car, an old combustilbe engine type. The junkgard guys pulls out a revolver and starts cursing them out, something to the effect of "What, you wanna see me get fried for taking cash?"

Cash and Groucho Marx glasses in the well prepared citizen's future.

Sun, 06/01/2014 - 15:47 | 4814890 MsCreant
MsCreant's picture

I own my home and have no debt...Bitchez. The things I invest in are not in pixels on computer screens...

There are not words for what I feel. "Fuck off and die" is a start.

Sun, 06/01/2014 - 17:16 | 4815102 RiverRoad
RiverRoad's picture

+1  Ya got THAT right.  If you can possibly help it, never ever take out a mortgage, especially a 30-year.  At the end of 30 years you will have paid the bank 3x the original price of the house.  Don't traffic with the devil.

Mon, 06/02/2014 - 14:36 | 4817546 MeelionDollerBogus
MeelionDollerBogus's picture

bu...bu...bu...I gotta see my dealer fer moar mortgage-salts!

Sun, 06/01/2014 - 15:47 | 4814893 SpanishGoop
SpanishGoop's picture

When will the FBI, FHFH and CFPB IPO ?

 

I want to but stawks, I smell huge profits.

 

Sun, 06/01/2014 - 16:04 | 4814917 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Darkcoin bitchez.

http://www.wired.com/2014/05/darkcoin-is-booming/

In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value–from around 75 cents a coin to almost seven dollars. Its selling point: Darkcoin offers far greater anonymity than bitcoin, mixing up users’ transactions so that it’s incredibly difficult to trace a payment to a person. And though few have yet to accept that more-anonymous coin for actual goods and services, the promise of Darkcoin’s privacy features seems to have sparked a miniature boom. It’s one of the fastest growing among the wave of cryptocurrencies that’s followed bitcoin’s success, with the total value of its combined coins topping out at nearly $30 million.

...

Darkcoin adds an extra layer of privacy by automatically combining any transaction its users make with those of two other users–a feature it calls Darksend–so that anyone analyzing the blockchain has a harder time figuring out where a particular user’s money ended up. “A large community believes that the way bitcoin’s blockchain is designed is a problem,” says Evan Duffield, the 32-year old Arizona-based software developer who launched Darkcoin in January. “Darkcoin has this anonymity aspect to it, which is attractive to a lot of people.”

...

But Darkcoin’s price increases may also be linked to real changes in its features, says Kristov Atlas, a bitcoin consultant and Darkcoin fan. He argues that its value comes in part from its unique properties as a payment system, not just as an investment vehicle. The currency’s first big price jump occurred in late April, for instance, when its Darksend privacy trick was initially switched on for real transactions. “It’s not purely a speculative bubble,” Atlas says. “There’s some solid indications the market price is currently based on the fundamental value of the coin.”

...

Duffield insists–and those who see financial privacy as a fundamental value may even believe him–that the black market isn’t the main driver of his cryptocurrency’s growth. “I don’t see much chatter about using it for illegal things,” he says. “It’s a neat technology and people want to invest in it because it’s useful.”

...

http://wiki.darkcoin.eu/wiki/FAQ

...

 

What is X11?

It's the hashing algorithm used by Darkcoin, comprising of 11 different hashing algorithms.,,

Why 11 hashing algorithms and not 1?

More hashing algorithms allow for greater security at the expense of slower verification time (this is not related to transaction speed).

If Bitcoin's SHA256 is broken, the network will essentially be broken as SHA256 is the only hash protecting it. However, when using 11 hashes there is more security. Breaking one hash will not be enough to break the coin. (A 3 letter agency using a quantum computer can break a single SHA256 key in a little under a week's time brute forcing it, but they'd have to have a reason to divert limited resources to go after a key in this manner since there are literally billions of keys out there).

...

A central aspect of using currencies is that the unit of the currency has the same properties as another unit of the currency. For example 1 gram of gold is equal with 1 gram of gold. A one euro coin is equal to another one euro coin. In a similar sense, one darkcoin is equal to any other darkcoin.

When the history of each coin is being tracked, from its generation (through mining) up to its last spending, as is the case with the Bitcoin blockchain, certain coins can be "flagged". For example, if one knows that an exchange was hacked and that its BTCs were stolen and that these same BTCs were then spent to acquire a merchandise, it can be seen that that the BTCs spent for the merchandise are a byproduct of crime. So, in this sense, these BTCs are not equivalent with other BTCs because they carry with them a negative reputation or legal implications*. This lack of equality originates from the refusal of some party to accept BTCs that have a certain "history" behind them. Lack of fungibility in a currency is strongly problematic.

If there is a constant "mixing" of coins in the blockchain, as is happening with DarkSend, all Darkcoins remain fungible (=equal to one another) and its use as a currency is not disrupted by the public ledger / blockchain.

[*] Bitstamp has required users to provide evidence of where they got their Bitcoins before cashing them out.

http://www.reddit.com/r/Bitcoin/comments/26apno/bitstamp_will_not_process_withdrawal_unless_you/

 

Sun, 06/01/2014 - 16:11 | 4814962 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Though to be unfair and mentally unbalanced.

http://zerocoin.org/

Zerocoin is a project to fix a major weakness in Bitcoin: the lack of privacy guarantees we take for granted in using credit cards and cash. Our goal is to build a cryptocurrency where your neighbors, friends and enemies can’t see what you bought or for how much.

This project began with a proposed extension, called “Zerocoin”, to the Bitcoin protocol that allowed users to mix their own coin. A collaboration between the the original Zerocoin project members and cryptographers at MIT, The Technion, and Tel Aviv University, has produced a far more efficient protocol that allows for direct private payments to otherusers of hidden value. For disambiguation, we refer to this new protocol as Zerocash, and detail its technical underpinnings here.

...

What makes Zerocoin and the new Zerocash protocol different from previous approaches:

  • Zerocoin and the Zerocash protocol operates in the Bitcoin network and is implemented as a series of extensions to the existing Bitcoin protocol. This approach means that Zerocoin can be deployed without relying on a central coin issuer or bank (as used in previous e-cash schemes). Moreover, since no single trusted party operates the Zerocoin system, attacks on Zerocoin must take on a substantial fraction of the Bitcoin network.

  • The Zerocash protocol uses provably secure cryptographic techniques to ensure that Bitcoins cannot be traced. These techniques allow users to conduct transactions on the Bitcoin network while receiving strong mathematical guarantees that the transactions cannot be traced. These guarantees remain in place even if a portion of the Bitcoin network is compromised by an attacker.

  • Other anonymous cash systems rely on distributing the work of anonymizing users amongst a set of parties. This approach works well if all parties are fully available but can be subject to “denial of service” attacks where a small number of nodes are taken offline. Because Zerocoin is built on top of Bitcoin, it is widely distributed among all the Bitcoin peers, ensuring that the system can remain available even when many nodes are compromised.

  • With the new Zerocash protocol, unlike the old Zerocoin protocol, users can make direct payments to each other with a vastly more efficient cryptographic protocol that also hides the amount of the payment, not just its origin.

...

 

Sun, 06/01/2014 - 16:37 | 4815025 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

For example, if one knows that an exchange was hacked and that its BTCs were stolen and that these same BTCs were then spent to acquire a merchandise, it can be seen that that the BTCs spent for the merchandise are a byproduct of crime.

To expand on this you ever notice they never track serial numbers on bills in the financial payment and banking system except for detecting counterfits...

 

Sun, 06/01/2014 - 15:59 | 4814921 Fix It Again Timmy
Fix It Again Timmy's picture

It won't be long before our entire federal budget is used to power hard disks of "necessary information" - is this a great country OR What?.....

Sun, 06/01/2014 - 16:03 | 4814941 Bill of Rights
Bill of Rights's picture

Database this, blow me

Sun, 06/01/2014 - 16:05 | 4814946 sunnyside
sunnyside's picture

This kind of stuff along with the Taliban POW story has really ground my gears today. 

With this kind of article it becomes more and more transparent that the US government thinks that we exist for it.  As MsCreant said above, "Fuck off and die".  With the Taliban POW, whether the soldier was a douche or not, our government openly and clearly broke the law about negotiating with terrorists.  If they can break the law when they want to or think it best, then so can I and if they don't like it, then "Fuck off and die". 

Each day I feel less and less that I will make it out of this world on my terms.  The bastards have no pretend limits now, so I say to them, "Fuck off and die".   Who is that poster/member here who continually posts to stop paying taxes, period.  Well, he is right.

Sun, 06/01/2014 - 21:05 | 4815594 Chupacabra-322
Chupacabra-322's picture

More undeniable evidence that the Criminal Fraud entity UNITED STATES, COPR. INC., Criminal State Dept., CIA arm, fund & train the exact same terror organizations they claim to protect The American People from.

High Treson from a Criminal Fraud Corp. entity.

Stop CONSENTING & being an accessory to their Criminal System of Fraud Debt Bondage & Enslavement.

Pack a Gun & Pay No Tax.

Sun, 06/01/2014 - 16:21 | 4814988 Republic4all
Republic4all's picture

Ide like to know what ziofuck is responsible for this one.

Sun, 06/01/2014 - 16:24 | 4814996 besnook
besnook's picture

cash is king. i bet i am inviting an irs audit and a dea investigation because i pay for everything in cash

Sun, 06/01/2014 - 17:28 | 4815131 Bill of Rights
Bill of Rights's picture

I pay cash as well, banks are for paying bills and cashing checks nothing more.?

Sun, 06/01/2014 - 17:31 | 4815141 RiverRoad
RiverRoad's picture

Right.  Screw 'em.  Make 'em service you for free.

Sun, 06/01/2014 - 16:24 | 4814997 Atomizer
Atomizer's picture

Might be time for a Youtube video when Reggie is fucking Obama. We have Congress trying to overturn tyranny political correctness issues.

Sun, 06/01/2014 - 16:27 | 4815000 buzzsaw99
buzzsaw99's picture

They'll track everyone EXCEPT the billionaires, who have stolen all the money.

Sun, 06/01/2014 - 17:28 | 4815132 RiverRoad
RiverRoad's picture

+1    We're Soylent Green for the billionaires and banksters who run this operation.  Big Data = Big Money squeezing blood out of turnips.

Sun, 06/01/2014 - 16:28 | 4815004 El Vaquero
El Vaquero's picture

Somebody should break into that database and steal the identities of every single person working for the FHFA and CFPB.  Our financial system runs on credit?  Then royally fuck up their credit scores and watch them squeal like a hog having its nuts cut off.

Sun, 06/01/2014 - 16:40 | 4815031 Jack Burton
Jack Burton's picture

The US Government must find work for it's legions of bureaucrats, spies and law enforcers.  All Americans are potential threats and it is government's role to enforce our compliance with their absolute rule. Besides, if you are a loyal patriot you should welcome government working to confirm your loyalty by spying on you. Only the guilty fear being tracked in their every thought and deed by their friendly Federal Government.

Sun, 06/01/2014 - 17:06 | 4815080 Joebloinvestor
Joebloinvestor's picture

They want to know where to go when they sieze it.

Sun, 06/01/2014 - 17:10 | 4815083 NuYawkFrankie
NuYawkFrankie's picture

re New Massive Fed Database To Hold Financial info od !00s Millions of Americans

 

cp /IRS/taxslave/*.*  /New_Fed_DB/NDAA_Suspect/

 

- Done

Sun, 06/01/2014 - 17:14 | 4815097 dexter_morgan
dexter_morgan's picture

i like ur mad linux skills

Sun, 06/01/2014 - 17:17 | 4815103 NuYawkFrankie
NuYawkFrankie's picture

;)

Tue, 06/03/2014 - 03:25 | 4819428 SilverRhino
SilverRhino's picture

rm - r /IRS

rm -r /New_Fed_DB

cd /

rm -r 

kill -9 -1

shred -v -n 7 -z /dev/sda

shred -v -n 7 -z /dev/sdb

shred -v -n 7 -z /dev/sdc

shred -v -n 7 -z /dev/hda

shred -v -n 7 -z /dev/hdb

shred -v -n 7 -z /dev/hdc

echo "Fuck off Fedgov" 

 

 

Sun, 06/01/2014 - 17:15 | 4815099 starman
starman's picture

Fuck you Obama and friends! Die you fucking commie scum!!

Sun, 06/01/2014 - 17:53 | 4815191 Mad Muppet
Mad Muppet's picture

Where we are headed...or maybe worse than that:

 

https://www.youtube.com/watch?v=VK494Judxvg

Sun, 06/01/2014 - 18:03 | 4815215 SheepDog-One
SheepDog-One's picture

How many 100's of millions of americans? 3?

Sun, 06/01/2014 - 18:19 | 4815254 James Dandy
James Dandy's picture

Americans are brain dead.

Sun, 06/01/2014 - 18:33 | 4815284 Hongcha
Hongcha's picture

The system, all such systems have an Achille's heel; they run on electricity.  They die without it.

In a similar sense, the people manning these operations have an Achille's heel - their venality and absence of conscience will, ultimately, limit the lifespan of their effectiveness.

I hate them like my chickens hated me.  We're all more or less free range chickens or penned, that may be our only choice.

Sun, 06/01/2014 - 19:32 | 4815387 cherry picker
cherry picker's picture

I'm going to start selling CIA, NSA and TSA ID Cards.  No one knows what they look like, so when they come for you, flash one of these cards, it will have the rank of Colonel or above.  They'll back off as they won't know if you are legit or not.

Mon, 06/02/2014 - 09:02 | 4816468 lakecity55
lakecity55's picture

Hey, if you get to that point, just open up with a 870 Remington. Shoot low.

Sun, 06/01/2014 - 20:19 | 4815484 Baby Eating Dingo22
Baby Eating Dingo22's picture

Time to bring back the Polaroid and paper ledgers

 

Sun, 06/01/2014 - 20:43 | 4815534 jack stephan
jack stephan's picture

Jake La Motta: I remember those cheers / They still ring in my ears / After years, they remain in my thoughts. / Go to one night / I took off my robe, and what'd I do? I forgot to wear shorts. / I recall every fall / Every hook, every jab / The worst way a guy can get rid of his flab. / As you know, my life wasn't drab. / Though I'd much... Though I'd rather hear you cheer / When you delve... Though I'd rather hear you cheer / When I delve into Shakespeare / "A horse, a horse, my kingdom for a horse", I haven't had a winner in six months.
[he lights a cigar]
Jake La Motta: Though I'm no Olivier / I would much rather... And though I'm no Olivier / If he fought Sugar Ray / He would say / That the thing ain't the ring, it's the play. / So give me a... stage / Where this bull here can rage / And though I could fight / I'd much rather recite /... that's entertainment.

Suck a dick, and then suck another one.

The older types I knew always said "fuck his life"

You dickless worms fall into that category. Get some pussy, make a matchstick house, ships in bottles, stamps ....pick one, just don't be a worm.

Sun, 06/01/2014 - 20:48 | 4815547 redwater
redwater's picture

This is why you have a silver safe/bunker like in Looper.

Sun, 06/01/2014 - 21:26 | 4815651 Stockmonger
Stockmonger's picture

This database has existed with Experian for more than two decades.

Mon, 06/02/2014 - 08:24 | 4816383 RazvanM
RazvanM's picture

Think about this:

 

- A database having all-around information about *any* individual on the Earth: credit, income, spending, location, birth place, phone information, friends and family, jobs, companies etc.

- Tools to disseminate such information and project the outcome when: the interest on credit rises one percent, a number of individuals in a credit chain goes bankrupt, a number of idividuals in a region suddenly loses income, the taxes in some regions start increasing etc.

- Some all-powerfull lords to play with such numbers, even doing some live experiments in order to benefit from the outcome in contrast to others.

 

It's not just an imaginative scenario, isn't it?

Mon, 06/02/2014 - 08:46 | 4816418 esum
esum's picture

when do we get to see OBAMA'S college records??????????????????

 

Mon, 06/02/2014 - 08:58 | 4816450 lakecity55
lakecity55's picture

The ink is still drying, I think.

He probably has shitty grades which had to be buried when he ran for HNIC.

Mon, 06/02/2014 - 08:55 | 4816444 lakecity55
lakecity55's picture

Big Deal.

If you were ever in certain jobs in the Service, you gave this 'right' up.

Regular citizens should NOT have to.

Not unless there is PC and a warrant to check their records, and one NOT signed by a secret judge dude.

Jeez, goobermint, get a life.

 

Mon, 06/02/2014 - 09:07 | 4816484 lakecity55
lakecity55's picture

Where is Roddy Piper?

He could shoot up the radio antenna spying on everyone.

I thought it was a sifi movie when I first saw it, but then realized it was one of those Tribal flicks.

Mon, 06/02/2014 - 14:18 | 4817503 MeelionDollerBogus
MeelionDollerBogus's picture

lol NEW! As if this hasn't been happening for 20 years & fulminating in the unseen side of market manipulation.
They know your trades, your balances, your margin, your preferences patterns for future investing or selling.
They're doing more than changing margin to bust you, they're reading your margin permitted to KNOW how much will bust the most people while seeming "reasonable" in statistical analysis later.

They know when you'll capitulate on trades because they can see your balances & income.

Mon, 06/02/2014 - 22:41 | 4818960 Head_Shots_Work
Head_Shots_Work's picture

BFD - I'm sure it will be as screwed up as OBUMMERS Health Care system and by the time it is done a solar flare will wipe it clean. 

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