[108165] in Cypherpunks
CDR: So a major bank sells its gold. So what?
daemon@ATHENA.MIT.EDU (HyperReal-Anon)
Sun Feb 7 00:24:07 1999
Date: 7 Feb 1999 05:05:13 -0000
From: HyperReal-Anon <nobody@sind.hyperreal.art.pl>
To: cypherpunks@einstein.ssz.com
Reply-To: HyperReal-Anon <nobody@sind.hyperreal.art.pl>
You wrote:
>
>>borderless world of Internet commerce. DigiGold, unlike
>>all payment systems involving national currencies, is
>>also completely independent of any national banking system.
>
>Ah well? Now, guess what would happen if one of the major national
>banks decided to sell its gold?
Happens all the time, eh? No, seriously, what happens is
that supply and demand continue as normal -- same as what
happens when a randomly selected country's currency (say
the Brazilian "Real") is devalued overnight, only gold
ain't nearly as risky, because it's the real thing.
(Apologies to Coca Cola.)
odds
