On Wed, Dec 10, 2008 at 13:34, Elliott Hird <[EMAIL PROTECTED]> wrote: > On 10 Dec 2008, at 20:31, Roger Hicks wrote: > >> SELL(1VP - AGAINST) - This should have addressed the issue of the Note >> Exchange in the process. If it did I would vote for it. > > That can be handled via the Note Exchange. > This change would invalidate the purpose of the Note Exchange and thereby make Credits worthless. Since most credits are held by the banks this would lead to a significant drop in equity for both banks. A reasonable solution would be to require all Marker holders to buy back the appropriate Credits from the bank. This is best handled via the proposal that makes the change since the Note Exchange contract itself has no interest in the health of our banking economy.
BobTHJ
