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To: jjs_ynot who wrote (6172)7/23/1998 1:05:00 PM
From: Charlie Smith  Read Replies (1) | Respond to of 8545
 
dave:

<<The bank still plays the role of government insured "trusted agent" in the transaction process.>>

Not necessarily. Maybe for the "store of value" (savings) component of money, but not the "medium of exchange" (transaction) component. As a payer of bills, I will give up "trust" in a heartbeat for the ability to pay more vendors. If I'm a biller, I need to know two things: The funds are good, and the amount remitted to me is correct.

Charlie


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