From: Duncan Frissell <frissell@panix.com>
Date: Thu, 5 Nov 1998 03:34:14 +0800
To: Michael Motyka <rah@shipwright.com>
Subject: Re: ?Lions?
In-Reply-To: <v04020a15b264af18b1aa@[139.167.130.246]>
Message-ID: <199811041855.NAA03080@mail1.panix.com>
MIME-Version: 1.0
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At 09:17 AM 11/4/98 -0800, Michael Motyka wrote:

>It is the financial foundation for a cyber world where regulators will
>probably have a great deal of trouble operating. They may have no choice
>but to settle for taking their cut at the borders.

Note that the "informal" sector as a percentage of the "formal center is
100% for the Russian economy, 30% for the Italian and Belgium economies and
at least 10% of the US economy with conventional payment systems.  

>I still see many of the same old problems when attempting to trade hard
>goods, at least in large quantities. The problem of having to explain
>how you came by a 6000 sqare foot home on 100 acres of mountainside in
>Lake Pacid is not solved. It's not a total solution but it looks good.

Rent don't buy.

>It could be a great way to save for retirement - nobody can tell how
>much E$ you have accumulated, where it came from or where you keep it.
>Just draw it out as you need it, pay your taxes at the gate and use the
>5th when necessary.

True.  Even works for general purposes.  Very hard to "net worth" people.
Expensive process.

DCF