On Thu, 5 Dec 2002, Tim May wrote: > [At least 4-5 of Hettinga's e$/digibucks/qwatloos chat lists elided > from this distribution....instead of creating so many lists, ... well, > it's obvious what the "instead of" ought to be.] > > > On Wednesday, December 4, 2002, at 06:17 PM, Peter Fairbrother wrote: > > > OK, suppose we've got a bank that issues bearer "money". > > > > "Money" is too broad a term, encompassing bullion, giant stones, coins, > chop marks, scrip, IOUs, checks (of several kinds), warehouse receipts, > markers, seashells, wire transfers, SWIFT orders, diamonds, bonds (of > several kinds), casino chips, promissory notes, etc. > > If a Swiss bank, the pre-eunuch form, took in other forms of money and > gave one a number or a passbook, this would be the bank issuing "bearer > "money"".
Tim's comparison is flawed. A bank making loans is not the same as a Swiss numbered account where they were taking in money or goods and renting storage. If you wanted a loan from a Swiss bank you still needed ID so they could chase you down if you didn't pay the loan back. -- ____________________________________________________________________ We don't see things as they are, [EMAIL PROTECTED] we see them as we are. www.ssz.com [EMAIL PROTECTED] Anais Nin www.open-forge.org --------------------------------------------------------------------