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Nov
11

The idiot economy – behind the ‘dark web’ cyber-crime busts

From: The Spectator

Spectator Money is out, with ideas on how to make it, spend it and even how to be seen spending it. Freddy Gray looks at the ‘social economy’ – think tax loopholes for financiers of politically favoured endeavours; while Camilla Swift peruses credit cards such as Kanye West’s ‘African American Express’ and the Dubai First Royale,

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If true, could we blame 26-year-old ‘Defcon’? Sneaking around is for plebs; Silk Road 2.0 banked monthly commissions worth $400,000, the FBI estimates. Success breeds complacency and besides, if rappers and cronies and sheikhs needn’t be discreet, why should the geeks?

Alas and indeed: the truly rich and powerful transact their shenanigans the old-fashioned way – hiding in plain sight, funneled through the entertainment budgets of worthy tax-credited charities. For everyone else, there will always be a ‘free’ market for whatever currency can buy. Just don’t expect it to be foolproof.

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