Comments on: Poker: The Summit http://www.saysuncle.com/2006/10/30/poker_the_summit/ Remember, I do this to entertain me... not you. Sun, 22 Nov 2009 05:55:44 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: rich http://www.saysuncle.com/2006/10/30/poker_the_summit/comment-page-1/#comment-142439 rich Mon, 30 Oct 2006 21:06:01 +0000 http://www.saysuncle.com/archives/2006/10/30/poker_the_summit/#comment-142439 Actually, they may have to care. Antigua has already sued the US for the earlier Wire Act which was also supposed to make internet gambling illegal and won. So far the US has ignored the ruling, which gives Antigua the right to take punitive actions against the US, like refusing to honor US copyright laws. Watch the RIAA and the rest scream bloody murder when their overseas sales plummet because US copyrights are no longer honored overseas. If the UK and other countries that host international gambling/poker sites follow suit, the US could lose billions in revenue. This story ain't over by a long shot. Actually, they may have to care. Antigua has already sued the US for the earlier Wire Act which was also supposed to make internet gambling illegal and won.

So far the US has ignored the ruling, which gives Antigua the right to take punitive actions against the US, like refusing to honor US copyright laws. Watch the RIAA and the rest scream bloody murder when their overseas sales plummet because US copyrights are no longer honored overseas. If the UK and other countries that host international gambling/poker sites follow suit, the US could lose billions in revenue.

This story ain’t over by a long shot.

]]> By: SayUncle http://www.saysuncle.com/2006/10/30/poker_the_summit/comment-page-1/#comment-142413 SayUncle Mon, 30 Oct 2006 16:47:25 +0000 http://www.saysuncle.com/archives/2006/10/30/poker_the_summit/#comment-142413 <blockquote>I have a bank account with money in it in a foreign country that has a Visa card attached to it.</blockquote> Probably a good idea. US banks are required to give the IRS details of any 'unusual' transactions. 'unusual', like 'illegal gambling', being undefined. It's like they don't trust us and want to nanny us. But that's just my paranoid libertarian side talking. In other news, we need to have a blogger poker tourny.

I have a bank account with money in it in a foreign country that has a Visa card attached to it.

Probably a good idea. US banks are required to give the IRS details of any ‘unusual’ transactions. ‘unusual’, like ‘illegal gambling’, being undefined. It’s like they don’t trust us and want to nanny us.

But that’s just my paranoid libertarian side talking.

In other news, we need to have a blogger poker tourny.

]]> By: Metulj http://www.saysuncle.com/2006/10/30/poker_the_summit/comment-page-1/#comment-142407 Metulj Mon, 30 Oct 2006 16:24:49 +0000 http://www.saysuncle.com/archives/2006/10/30/poker_the_summit/#comment-142407 My best friend, who runs a big poker game here in Bloombergia and is the best card player I have ever met, says the ban probably has more to do with preventing cash outflows to foreign countries than anything else. I have a bank account with money in it in a foreign country that has a Visa card attached to it. The IRS is absolutely beside themselves about this and want to know how much is in the account (less than 250 Euros). Why? It isn't illegal. My accountant told them to suck eggs and the amount we declared is accurate (it is). They want documentation to come from the bank and the bank is tell them to suck eggs as well. Anyhoodles the point is this: It ain't about 'gambling,' it's about stupid americans losing lots of untaxed, difficult to trace money to foreigners by virtue of playing a game we invented. Hey. That's pretty symbolic, no? My best friend, who runs a big poker game here in Bloombergia and is the best card player I have ever met, says the ban probably has more to do with preventing cash outflows to foreign countries than anything else. I have a bank account with money in it in a foreign country that has a Visa card attached to it. The IRS is absolutely beside themselves about this and want to know how much is in the account (less than 250 Euros). Why? It isn’t illegal. My accountant told them to suck eggs and the amount we declared is accurate (it is). They want documentation to come from the bank and the bank is tell them to suck eggs as well. Anyhoodles the point is this: It ain’t about ‘gambling,’ it’s about stupid americans losing lots of untaxed, difficult to trace money to foreigners by virtue of playing a game we invented. Hey. That’s pretty symbolic, no?

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