-----BEGIN PGP SIGNED MESSAGE-----
"Matthew" == Matthew Bernardini <matthew@gandalf.rutgers.edu> writes:
Matthew> 1) Who will insure your money ? Can you trust anyone but Matthew> the US gov't to back your funds ? Even in the S&L Not all banks in the world are a part of FDIC. Who said that an internet bank would have to be US based? Are there NO banks that you feel are trustworthy outside of the US? Matthew> 2) A doctoral thesis could be written about this one, but Matthew> what about the Federal Reserve ? You would wreak havoc Many doctoral dissertations have been written on the Fed. Most of them come to the conclusion that the Fed is an utter failure... Matthew> 3) Interest Rates and Inflation ... Matthew> 4) Interest Rates and Inflation .... Matthew> 5) You guessed it, Interest Rates and Inflation. Matthew> I think there are more economic issues than encryption Matthew> issues to be considered in this case. Two points: 1) A single bank would not have enough capital to significantly affect world interest and inflation rates, even if all of its depositors acted in concert to do so. 2) If you ignore that and assume that a new banking system grew outside of government control with enough capital to affect the world markets, why is that A Bad Thing? Do you really think that a large non-us-government regulated bank would bring the world financial system to its knees? Linn H. Stanton <stanton@acm.org> The above opinions are exclusively my own. If anyone else wants them, they can buy them from me. Easy terms can be arranged. - -----BEGIN PGP PUBLIC KEY BLOCK----- Version: 2.2 mQBNAitK8+EAAAECALzK83DH79m7DLKBmZA2h9U33fBE80EwT4xRY05K7WRfxpO3 BmhPVBmes9h97odVZ0RxAFvinOl4wZGOb8pDclMABRG0IUxpbm4gSC4gU3RhbnRv biA8c3RhbnRvbkBhY20ub3JnPrQnTGlubiBILiBTdGFudG9uIDxsc3RhbnRvbkBz aGVhcnNvbi5jb20+ =oCru - -----END PGP PUBLIC KEY BLOCK----- -----BEGIN PGP SIGNATURE----- Version: 2.3a iQBVAgUBLT7vtMGRjm/KQ3JTAQGDfwH+KlyMF3bYrZMtCuqGrzP3pW8uEuh4XYlj Zcz1yHjrJtqQtI9bm+Su+i2FFzup9veEg1K/IdhgFIusbgNkpKGrFA== =GXUm -----END PGP SIGNATURE-----