| April 13, 2007 | 0 Comments

Did you see the news about the management team at Netteller?

This group of hard working individuals who did nothing but create an easy way for people to use their hard earned dollars online and they now get arrested.

The US passed laws outlawing online gambling.  My first question is why would the government do such a thing – might it be that their political careers are financed by the gambling lobbyists and owners of casinos?  Tell me, as an adult living in one of the freest countries in the world, why can’t I go online and gamble if I so choose?  Why can’t I spend my money the way that I want?

For whatever reason, our politicians, those holy saints in Washington, have decided that they know better than us.  They know better than the people that earn their money how to spend it.  It makes no sense, why outlaw online gambling but allow it to continue on Indian lands, in office pools, home poker games and in certain states?

This scapegoated management team didn’t actually gamble, they didn’t even set up a gambling website.  Nope, they didn’t force people to go online and enjoy themselves and spend their money their way.  They didn’t do anything but solve a software problem for some customers, allowing them to deposit money into an account and take money out – sounds remarkably similar to a bank.

And now, now they are being called criminals.  Software programmers, engineers, hardworking people, people with families – it doesn’t sound like criminal activity to me.  Oh, did I forget to mention that the European Union, and especially the UK doesn’t have a problem with their business?  Nope, just our grand United States government.

What was interesting was, after the announcement of the arrests of the Netteller management team, many of the companies that originally started online gambling closed up and left the US – they focused on other areas of the world, specifically Europe and Asia.  This destroyed many hard working people and cost them their jobs.  Many of the companies who worked in this field lost significant parts of their market caps and their businesses were partially destroyed all because of overly zealous government officials.

If you ask me the government would have been better off focusing on drug dealers or the Mob – why spend the money and the time for something that the people want to do on their own time that doesn’t infringe on the rights of others.  Many just want to gamble in their own home!  Ridiculous, I can go to a casino on Indian lands and gamble to my heart’s content, but heaven forbid I should want to do it from home!

Write to your congressman – demand your rights back, and ask them to stay out of our lives!


Category: Stocks

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The Dynamic Wealth Report works with a number of staff writers and guest experts who specialize in everything from penny stocks to ETFs to options trading. These guest analysts post under the 'staff writer' moniker for ease of use.

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