[46927] in Cypherpunks
Re: E-cash and Interest
daemon@ATHENA.MIT.EDU (Alan Horowitz)
Wed Jan 10 16:26:35 1996
Date: Wed, 10 Jan 1996 16:12:28 -0500 (EST)
From: Alan Horowitz <alanh@infi.net>
To: Tim Philp <bplib@wat.hookup.net>
Cc: Cypherpunks List <cypherpunks@toad.com>
In-Reply-To: <Pine.OSF.3.91.960110002053.21014A-100000@nic.wat.hookup.net>
> When you have your money in the bank, you are earning interest on the
> Has this issue been addressed, or am I missing something?
You are missing something.
One can earn interest on money, or gold, or oil, or pork bellies, if
one - puts it at risk. Typically by lending it out.
In our curent FDIC system, there is created the myth, that bank
interest is given without concomiitant risk.
The laws of economics are like the laws of physics. They apply, no matter
what anyone says about anything. There is no free lunch - nor risk-free
interest.
