CCS wrote:
> For instance, I presume you have established customers you do know
> and have come to trust. You could ask new customers for a
> recommendation or guarantee from an existing, trusted customer. This
> would mean a lot more than the imprimature of the cursed government.
I would be happy to recommend customers if my recommendations
become part of my track record. Good performance by my recommendations
would increase the value of my reputation capital. And, I would expect
a black mark on my record for a bad recommendation.
Guarantee? Yes, for a small limited amount. Say US$100. And for
a limited amount of time. Say 2 years. My guess is that over
that amount, and more than that time period is a job for a
specialized insurance company.
> What about an "endorsement insurance company" that for a fee (paid
> either by a MM or the customer) assumes the risk of transacting
> business with the possessor of a certain PGP private key on the
> basis of real knowledge of the owner of that key and/or how he/she
> has honored past commitments.
If I knew how to write the right type of code, I'd be hot on the
trail trying to find an interested insurance company.
> One practice that has worked in the context of extending credit to
> poor people in 3rd world countries is the following. [I know this
> is not the same thing but the problem is similar.] Loans are only
> given to individuals in groups (of 3 or more people) who mutually
> guarantee each others debts.
Right. Grameen Bank has been doing this for about 25 years. Has
assets of between 200 - 250 mill and has loaned about 1 bill over
that time period.
I'll bet that there will be one money changer, not using the
usual conventional statist thinking that builds an incredible
business over time. Maybe he's in the scene now. Maybe it'll
be somebody new.
And that goes for the new money boys at Standard
Reserve, too. Somebody might come along and take your lunch
and eat it. And they won't have to write a *book* to do it.
They'll be able to explain their money in a few paragraphs
like DigiGold was explained on this list. Ain't nothing
"complex" about money and banking that can't be explained
on this list, Elwyn. If you have your act together (know
what you're talking about), you'd have had to have broken
it down into it's simplist parts. If you've done this, then
you can explain it to any layman that cares to listen. Like
Einstein could do. I'm not about to go buy some book to try
to figure out what Standard Reserve is all about. Geesh.
> Some non-contemporary (ie either new or old) thinking is needed
> here!! You people are stuck in the contemporary statist mind
> set that leads only to crime and tyranny.
Well put!
Bob
--
http://www.constructiongigs.com/
Use gold as money. It's easy. Create a free e-gold account here:
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Fingerprint:
3C4D A63F 3C8B 2D7B 7E1A FFE8 9A2E 4D78 CAD6 66B7
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