Transcript of the above video:

As the title of this video suggests, apparently there was a recent raid involving one of these cryptocurrencies. Now I have got to be honest with you, this is one of the times where it seems like maybe one element of overreach sometimes by the state might encroach on another element of overreach just generally. Basically, two things that creep me out; police raids - which are sometimes necessary - but police raids coupled, at the end of the day I am a lawyer I do believe in due process and things so I am hoping, presumably if the raid comports with all levels of due process then fine, it is legitimate, but it still makes you uneasy, raids and things like that. But that being said, the underlying thing that they are raiding I have to say I kind of want some more scrutiny on that. 

I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Controversial 'World' Exchange raided in Bangkok. And as you get to in the article, this has to do with what was once being called World Coin. This is this orb thing where they have people come and give all their biometric data or their Iris scans or whatever and then in exchange, they get this like coin that they keep getting a payout from this coin forever; it's like a stipend. Some have said it's an attempt to get everybody on universal basic income which for anybody that is unaware, that's like as Marxian as Comintern, Communist kind of thinking as you can get, this notion that you just get money from this state that's like a stipend. I have got a real problem with that. It kills the notions of free-enterprise, and it really is a way of putting people on the dole, and putting people on the dole is a way of making them dependent on the state which is another way of saying you are making them slaves. I have got a real problem with this thing, this orb, this weird orb, which reminds me of the orbs from Phantasm. If anyone has ever seen the Phantasm movies, you might think of those orbs. I might try to find one of the Phantasm orbs, I'll put it up here on the screen real quick. 

That said, quoting further: "Thai SEC makes arrests at iris-scanning for violations of digital asset law," - yeah again the whole thing is just creepy. I am really glad the Thai Police are doing something about this because they seem to be putting up these kiosks and things to take people's Biometrics which can be a problem in and of itself under Thailand’s Digital Protection Act, they are various laws pertaining to protection of digital information. But also, quoting directly from that article: “Under Section 66 of the Digital Asset Business Law, any person who operates a digital asset business without a license could face a prison term of 2-5 years and/or a fine of 200,000 to 500,000 baht." It is my understanding that one of the allegations, whatever it is the are doing, they didn't have proper licensure under that Act either.

Again, it remains to be seen. Everybody is entitled to due process, let's see how this is adjudicated before making final conclusions. But I do have to say, just from what I read in that article and I urge those who are watching this video to go check that out for themselves, coupled with what I have read just generally about some of this stuff, I was actually rather happy to see that maybe there is going to be some further scrutiny placed on this whole thing here in the Kingdom of Thailand.