ADICO: Anarchist FDIC#000# When someone objects to free banking (in gold, for example) on the grounds that unregulated banks will have fractional reserves and have no incentive to stay honest, perhaps describing an Anarchist Deposit Insurance COmpany (ADICO) will ease their fears. A new or relatively obscure offshore bank would gain the trust of potential depositors by agreeing to cooperate with surprise inspections of their gold supply. Depositors would pay a small premium to cover loss from bank failures due to theft or fraud. Cryptographic protocols would need to be developed to allow the ADICO to see a verified total amount on deposit, without revealing anything about any particular depositor. The total should match the physical amount of gold in storage, assuming 100% reserves. Does anybody know of work on this, or think it is worth researching? Kent - <jkhastings@aol.com> #000#