For the trader, the draft abortion decision presents an important privacy narrative …

Our focus is primarily on the trader for trade or exchange of value.  Trade is the only reason humans bother with each other.  From the first engagement between one another we have come up with rules for settling our trades, for being transparent, for injecting trust into the markets.  An abortion decision would seem distant from this concept.  But is it?

The Constitution is a conservative document. The Constitution says nothing about abortion, nor does it provide for the federal government to involve itself in private decisions.  The irony is that those who allegedly want abortion to remain a private matter are asking the ultimate intruder to regulate in this area.  Abortion regulation is another mechanism for government expansion particularly where privacy is concerned. 

For example, I read Roe v. Wade before parsing through the U.S. Supreme Court’s draft opinion in Dobbs. I took this order in reading the opinions to avoid any taint from Justice Alito’s opinion.  My conclusion was that Roe is legal analytical trash.  After reading Roe and reading Alito’s opinion, I had to say that I was mostly in agreement with him.

The pains that the court in Roe went through to create a privacy doctrine that is not supported by the Constitution only to see the opinion sliced and diced by the legal reasoning in Dobbs and the analysis of the U.S. Constitution looked straight out of a horror movie. There is no explicit protection of privacy in the Constitution and in the narrower case it will be left up to state legislatures to guarantee it in their constitutions and/or define it in state law.

For the trader, especially the trader in crypto currencies where the concept of anonymity attracted her to that market, she has to ask, “Will this court’s attack on privacy provide more ammo for government’s attempts at looking at my trades?”

Government sees itself charged with managing all the resources in a country including human resources and maintaining that world view means piercing the veil of privacy.  I would not be surprised to see the courts take further action against privacy by reversing itself on a number of privacy cases that Roe was built on.  Traders should stay aware of this possibility that attacks on privacy could further cement threats to privacy in the markets.

 Alton Drew

6 May 2022

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