Hello Danny, I don't think that we will come full circle or that the new ETF will replace Coupon currencies because a system that includes e-sugar, e-corn and e-whathaveyou will still need a base denominator to be quoted in and exchanged for.
The only reason there is money to begin with is because it was rather difficult to trade horses against bear skins in order to buy milk and half an antelope. Money was used as the storage of wealth, exchangable for all the bearskins cave man could eat and all the milk he could drown his 3rd wife in. Now, a new system that let's you trade e-sugar for e-eggs and e-processed_corn so that you can start selling e-pancakes would require that someone actually bids for e-sugar and someone else submits an ask for e-eggs and expects e-sugar in return. How else could a system calculate the exchange values of the transaction? Hence, it would be workable if everything was quoted in gold - or logs, or rocks for that matter. Meaning one unit e-sugar is being quoted as 3 rocks and e-eggs is a rock and a half. I'll swapp you two e-sugar for six e-eggs. Know what I mean? No denominator of quotation and the negotiation between you and me - even through computers - would take forever, because I might actually not want sugar, but sure have to get rid of the eggs, because one of them looks as if it'll hatch any minute. What better way than selling my eggs for rocks instead and using the rocks as a store of value until I need to 'buy' something else. Of course, we could make paper coupons for each rock, call them Dollar and just spend them in shops... The only real break through and full circle will really be when the trade denominator and common store of wealth will once again become gold. There is a strong movement in that direction on government levels of the Non-aligned Movement nations, but it will take time, because everybody got used to the coupons and a gold-based system of exchange will bring transparency with it. Something most governments aren't even thinking about yet ;o) Cheers, Robert. budget & privacy website hosting http://www.cyberica.net budget & privacy domain registrations + mail http://www.u2planet.com/cfdomaintrust.html --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
