Jim,
> > As far as I can see the properties that real estate lacks, > > are now created by the modern communication systems. > > Like...density? Gold is one of the most dense elements, > so it is easier and cheaper to store. It is more compact > and therefore portable. Land suddently has this property? > Your cost of land storage is perhaps expressed in property > taxes. Density is not an important property as far as backing an e-currency goes. What's the density of stocks? Property taxes? I guess anyone setting up a land backed e-currency will be smart enough not to buy land where the produce is not sufficient to pay the taxes. Reits typically pay 5-10% annual dividends and that's with these taxes already taken out. > > The share in the properties is now just as fungible as the > > gold, even though the properties that back the share are > > not fungible. > > That doesn't work. How do you handle redemption? If > everyone wishes to redeem their e-land at the same time, > some are going to get better land than others. Most of you objections seem to have to do with redemption. I don't see it necessary that e-land shares are easily redeemable for real land. As long as it is a contractual ownership in a piece of the portfolio there is no problem. People invest in reits, and you cannot redeem them either. You want your money, just sell the reit shares you have. You could create a redeemable e-land if you back them with reits. Then people can redeem their shares in e-land for $ or gold, and you just sell the equivalent number of reits in the portfolio. This is not difficult. > > It will not be long until you can pay with stocks, just > > like you pay with currency or gold today. > > "Can" is not in question. It can be done now. It just > doesn't happen very often. It is not a regular application > for stocks. Yes, it is done. But let's just say it is still not very practical. And that's a problem that computers can solve. > > Round the clock markets (electronic trading platforms), > > where all these stocks and bonds can be traded instantly, > > make them as useable a 'currency' as gold or dollars. > > Lew Rockwell made a great point not that long ago. He > asked me to show him where he could use gold in a grocery > store. Or e-gold. Then he'd be a believer. > > Show me where I can use stocks or bonds in a grocery store. > Then I'll be a believer. Just pay with a creditcard issued by your broker (Etrade, Ameritrade,...), which is backed by the stocks in your account. At the end of each month you will either liquidate some stocks to settle the balance, or pay from the cash that sits in the account, or borrow against your stocks and pay interest. Setting up an e-currency with stocks as backing is feasible too. Perhaps the very popular tracking stocks like QQQ or SPY are most suitable for this. > > Just like there is no 'winner' coming out of the stock market. > > There are certainly winners in the stock market. Some > currencies will make it, some won't. Some will be very > profitable, others will be minimally profitable. With 'no winner' I mean that it is not so that only one of the currencies remains and all the others disappear Danny --- 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.
