cryptoanarchy.wiki

Arise, you have nothing to lose but your barbed wire fences!

1995-07-31 - OFFSHORE BANKING (Re: Zimmermann legal fund)

Header Data

From: Sandy Sandfort <sandfort@crl.com>
To: Mike Bailey <bailey@computek.net>
Message Hash: bc9029b6a7437d307d6411a1772143048fc8a2578058baa93038bff12e38456c
Message ID: <Pine.SUN.3.91.950731091836.5894C-100000@crl2.crl.com>
Reply To: <Pine.SUN.3.91.950731100140.4105A-100000@bambam.computek.net>
UTC Datetime: 1995-07-31 16:40:18 UTC
Raw Date: Mon, 31 Jul 95 09:40:18 PDT

Raw message

From: Sandy Sandfort <sandfort@crl.com>
Date: Mon, 31 Jul 95 09:40:18 PDT
To: Mike Bailey <bailey@computek.net>
Subject: OFFSHORE BANKING (Re: Zimmermann legal fund)
In-Reply-To: <Pine.SUN.3.91.950731100140.4105A-100000@bambam.computek.net>
Message-ID: <Pine.SUN.3.91.950731091836.5894C-100000@crl2.crl.com>
MIME-Version: 1.0
Content-Type: text/plain


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
                          SANDY SANDFORT
 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

C'punks,

On Mon, 31 Jul 1995, Mike Bailey wrote:

> I open an account with U.S. $$ in a foreign bank who uses francs ... a month 
> later the franc loses 20 % of it's value as compared to the U.S. dollar. If I 
> close out my account would I not lose 20% of my money because when the money was 
> deposited it was credited to the account in francs ... and when it is withdrawn 
> it converted back to $$ at the current conversion rate ?

If the account is denominated in francs, you take the hit.  If
it is denominated in dollars, you don't.


 S a n d y

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Thread