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To: Raymond Duray who wrote (40129)	10/24/2003 8:55:02 PM
From: BubbaFred	Respond to of 74559

Raymond - I will post any more information as I find it. The terra currency is only in proposal stage and it may take many years before it gets followers. However, it is possible to free float it and make exchange through the internet. Somebody has to manage it, i.e. set the valuation and against which currencies? and do the book keeping. I am sure there would be small banks (Everbank for example) wanting to increase members and deposits would go into it. At Everbank, one can set up accounts in different currencies, including the RMB. As Jay Chen said, "Should it happen, then TeoTwawKi is here". Maybe it's when TeoTwawKi is approaching and imminent, in about 10 to 20 years?

To: Raymond Duray who wrote (40129)	10/25/2003 4:34:59 AM
From: macavity	Read Replies (2) \| Respond to of 74559

Issuer. Raymond, As it is a commodity-backed currency there is no real need for an issuer. All you need is a few barrels of oil, a couple of soybeans, a chaff of wheat and voila - off to the shops you go! Issuers always get to the point where they start over-issuing (false) certificates relating to what they have in store/bank/warehouse. This is a non-starter because you are relying on the good name of 'The Issuer'. By the time TeoTwawKi arrives, there will be no-one we trust. Effectively you need a precious metal. We will get there, it is just that we will get there kicking and screaming. By the time it is over (due to hyper-inflation), we may well need mass-spectroscopes to analyse/measure the amount of gold in our currency when we buy our weekly groceries, but we will get there. -macavity