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Any mail sent to their servers from my regular correspondents would pass through NSA monitored sites as they left the US

Sure, but a lot of HN readers and potential FastMail customers live in places where traffic to/from FastMail's servers wouldn't be intercepted by the NSA (if the servers were in Norway). So while moving servers to Norway wouldn't make a difference to you, it would for a lot of other people.

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Maybe. But I wouldn't count on it, and you're better off assuming that you are monitored instead of depending on a server location.

To me the most compelling argument would be seizure laws. If you are one of those people who use the mail server as a data store then it would be worthwhile to have it in a place that would resist attempts to grab the hardware.

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