[e-gold-list] GOLDMONEY PATENTS - PROOF OF PRIOR ART EXISTS

Daniel S thegoldinvestor at gmail.com
Mon Sep 20 07:23:42 PDT 2004


Take a look at a document I discovered today:

http://www.itk.ntnu.no/ansatte/Andresen_Trond/finans/others/interest-free-money.txt

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?



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