Inflation-index bonds and private e-currency

[Richard Fiero]

E. Allen Smith wrote:
> 	One of the attractions of privately-produced currencies is as a
> hedge against inflation; this development may be a competitor to this
> idea. On the other hand, this setup does have an unavailability in _time_
> of the money (more so than other, equal-security bonds of the same duration),
> which may offset its greater spendability.
> 	-Allen

I don't get it. Why is this bond not saleable like any other? What 
"privately-produced currencies" are a hedge against inflation? If 
this bond is saleable like any other, why is the money unavailable? 
What means "greater spendability?" Is this assumed to be yet another 
government plot because it competes with other offerings and reduces 
the cost of borrowing?

Respectfully.
-- Richard Fiero --