When Mt. Gox finally does come up, thousands of people will have their cursor poised over the "withdraw" button.
You cannot run a depository institution like this. In the US, when a real bank can't handle withdrawals, the Federal Deposit Insurance Corporation moves in. Just before closing time, an small army of FDIC examiners, auditors, and guards, armed with court orders, moves in on the bank. Everything is frozen. All cash is counted. All records are backed up. The CEO and most of the executives are fired. When they do this on a Friday, by Monday, the bank is handling withdrawals, with FDIC staff running things.
The Mt. Gox clowns are saying "Trust us. We can't be reached by phone or mail. We aren't saying where we are. We aren't saying how much money we really have. We aren't saying if any money is missing. We aren't saying when we'll really be paying out customer funds. We aren't saying whether we've been trading on our own exchange. Trust us."
Early on, it looked like Mt. Gox was merely a victim of their own incompetence. As time goes on, the situation looks more suspicious.
It's probably time to bring in the Japanese legal authorities. Whether they like it or not, Mt. Gox is subject to the
"Financial Instruments and Exchange Law". This regulates all "financial instruments with strong investment characteristics" in Japan. It also regulates money transfer services. Japan uses broader definitions in this area than the US does.
There's a shadow just behind me,
shrouding every step I take,
making every promise empty,
pointing every finger at me.
Waiting like a stalking viper
who upon the finger rests.
Murder now the path is must we
just because the son has come.
Jesus, won't you fucking whistle
something but the past and done? (x2)
Why can't we not be sober?
I just want to start this over.
Why can't we dream forever?
I just want to start things over.
I am just a worthless liar.
I am just an imbecile.
I will only complicate you.
Trust in me and fall as well.
I will find a center in you.
I will chew it up and leave,
I will work to elevate you
just enough to bring you down.
Mother Mary won't you whisper
something but the past and done. (x2)
Why can't we not be sober?
I Just want to start this over.
Why can't we sleep forever?
I Just want to start things over.
I am just a worthless liar.
I am just an imbecile.
I will only complicate you.
Trust in me and fall as well.
I will find a center in you.
I will chew it up and leave.
Trust me. Trust me. Trust me. Trust me. Trust Me.
Why can't we not be sober?
I Just want to start things over.
Why can't we sleep forever?
I Just want to start this over.
I want what I want.
I want what I want.
I want what I want.
I want what I want.