VIVA Agentina LIBRE!

R. A. Hettinga rahettinga at EarthLink.Net
Sun Jan 13 18:10:17 PST 2002


At 5:09 PM -0800 on 1/13/02, faustine. at hushmail.com wrote:


> Yep.

Yep^2.

Someday, what we call "currencies" will be mere indices of various assets.
Look ma, no fiat-state numeraires...

Think of a combination of Fama/Black, et. al's early 1980's notion of "new"
monetary economics coupled with an index of (bearer-held :-)) assets in
transit and in wearhouses, along with commodities, plus the usual equity
and debt mixture. Pretty much what the fed does now, only the index will be
sold, just like the S&P is now.

When IBUC's site's back up, I'll point to an essay I did on it a couple of
years ago...

Cheers,
RAH


-- 
-----------------
R. A. Hettinga <mailto: rah at 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'





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