Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (22920)	8/20/2002 11:58:14 PM
From: Maurice Winn	Read Replies (1) of 74559

Jay, the terrable idea was one I thought of too a couple of decades ago, but it's problematic. There are already securitized assets in the stockmarket and they represent a vast array of goods and services around the world. I think it would be better to base the currency on a really, really big thing, rather than a bit of low value oil, coal and stuff. Then, different currency managers could compete for business. People would hold different currencies, depending on their preferences and trade those via cyberspace. If one went broke, bad luck for those people, but there would be plenty of others. Cyberspace is what makes it all so easy. Realtime, secure, low friction trades are enabled. Oil is too icky! Mqurice

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