Some additional thoughts and a follow up Peter...

All Google has really done is push the practice further underground. Many text link brokers were being quite blantantly obvious ond open as we are well aware.

Tubby has it precisely right. It is most certainly a "fear tactic for reform".

The question you need to ask yourself is within whom the "fear" is going to be most likely instilled...

The people selling links with the intent on gaming the system, exploiting a weakness, given that they now know Google can't do it themselves.

Or...

The "average Joe" trying to make a few extra bucks selling related advertising links to what they believe are quality sites?

Dave

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