[jdbernard]

The problem is that with the in-browser use case, which is what this whole discussion is about, the code being executed locally came from a remote source. For all of the reasons that Monsanto and the others name it is impossible to ensure that the code does what it claims to. So even if all of your data is stored locally, you have no strong way to ensure that the code that is performing the cryptographic functions is not secretly compromised by an attacker so that, for example, it sends your data in clear to some remote server.