Take a look at a document I discovered today: http://www.itk.ntnu.no/ansatte/Andresen_Trond/finans/others/interest-free-mo... THIS DOCUMENT WAS PUBLISHED BY Bernard A. Lietaer, July 1990 GoldMoney's patents are of no value as this document describes EXACTLY what James Turk filed as patent 3 years later. --- "This New Currency would be convertible because each of its component commodities is immediately convertible. The Central Bank would commit to deliver commodities from this basket, whose value in foreign currency equals the value of that particular basket." ***** "There are a number of practical ways by which this negative interest rate could be levied. To begin with, most of the "money" in circulation (and practically all of the New Currency that would be circulated internationally) takes the form of accounting entries in a computer somewhere, and it would be fairly simple to charge electronically the negative interest rate on these accounts." ***** "Technically, this New Currency is a combination of two concepts, usually analysed separately: stamp scrip, and currency backed by a basket of commodities." "An additional flexibility: the Central Bank could keep and trade its commodity inventories wherever the international market is most convenient for its own purposes: Zurich for gold, London for copper, New York for silver, etc." "There is even a high-tech option in the form of the "chips on a card" electronic money tested in France: money is issued in the form of an "intelligent debit card" where a computer chip is imbedded in the card." "Whenever a payment is made by inserting the card in a Point of Sale terminal, a phone, or any other device accepting the card, the credit on the card could automatically be adjusted for the time delay since the card was last debited. For smaller amounts which require a lower security level, cheaper magnetic strip cards are also available, such as the ones issued for the rapid transit systems of San Francisco, Caracas or Washington D.C., or the British and Japanese telephone authorities." Comments? --- You are currently subscribed to e-gold-list as: rah@shipwright.com To unsubscribe send a blank email to leave-e-gold-list-507998N@talk.e-gold.com Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses. --- end forwarded text -- ----------------- R. A. Hettinga <mailto: rah@ibuc.com> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'