[66934] in Cypherpunks
Re: Inflation-index bonds and private e-currency
daemon@ATHENA.MIT.EDU (Richard Fiero)
Tue Oct 1 02:24:17 1996
From: "Richard Fiero" <rfiero@pophost.com>
To: cypherpunks@toad.com
Date: Mon, 30 Sep 1996 23:08:01 +0800
E. Allen Smith wrote:
> One of the attractions of privately-produced currencies is as a
> hedge against inflation; this development may be a competitor to this
> idea. On the other hand, this setup does have an unavailability in _time_
> of the money (more so than other, equal-security bonds of the same duration),
> which may offset its greater spendability.
> -Allen
I don't get it. Why is this bond not saleable like any other? What
"privately-produced currencies" are a hedge against inflation? If
this bond is saleable like any other, why is the money unavailable?
What means "greater spendability?" Is this assumed to be yet another
government plot because it competes with other offerings and reduces
the cost of borrowing?
Respectfully.
-- Richard Fiero --
