Apparently Bruce Springsteen also has performed this song. The lyrics are at
http://www.thuismarkt.nl/users/springsteen/Lyrics/War-7585.html
-Original Message-
From: Ian Green [mailto:[EMAIL PROTECTED]]
Sent: Tuesday, 26 June 2001 11:04 PM
To: e-gold Discussion
Subject: Fractional
I am quite possibly going to brand myself a pariah on this list by standing
up in favor of fractional reserve banking, though certainly not its current
incarnation.
There is nothing wrong with fractional reserves per se. The problem is the
incestuous relationship between the checking and the
Message -
From: Samuel Mc Kee [EMAIL PROTECTED]
To: e-gold Discussion [EMAIL PROTECTED]
Sent: Tuesday, June 26, 2001 11:16 AM
Subject: [e-gold-list] RE: Fractional Reserve Banking... What is it good
for?
I am quite possibly going to brand myself a pariah on this list by
standing
up in favor
A currency that is 100% backed by gold may sell itself as AUG or grams of
gold.
To which e-gold GoldMoney, and soon e-bullion, can all stand and proudly
proclaim. Standard Reserve's gold-backed side of their accounts also meet
this qualification, even if they are 1 step removed, being 100%
The only one who is currently an ether gold is OSGold.
If they are not 100% backed, then I fully agree with you, but where is the
evidence. It seems to me that we just don't know what OSGold is since they
have not disclosed it. They might be 100% backed, they might be pure ether
(no backing
The only one who is currently an ether gold is OSGold.
If they are not 100% backed, then I fully agree with you, but where is the
evidence. It seems to me that we just don't know what OSGold is since they
have not disclosed it.
They have. They made a proud, high-faluting claim of being
[EMAIL PROTECTED] wrote:
Hillary:
It's not theft to provide a liquidity service. fractional reserve banking
provides liquidity and is a free market credit configuration. Although
it is possible that depositors will have a delay in redeeming their
deposits or suffer a capital loss on
David Hillary wrote:
Money is means of exchange, a transactional medium, means of payment, it
is created by banks whose balances can be used and are in fact used to
make payments.
I don't agree with your definition of money at all. Nor is it the
classical definition.
Let's assume your
HK Kid wrote
"What you say is true (altho it would violate the terms of governance
of the e-gold system) but it is beside the point of what I understood
to be the original topic. Namely, the assertion that the use by
a 3rd party, such as SR, of e-gold to back another currency, such
as AUG,
Capitalism succeeds because it is based upon one of humanity's
greatest failings... Greed.
Greed - the desire to improve one's situation - is not a failing; it
is a virtue.
Wow, I agree!
There are those who set their image of man to be somewhat different than man
is. Then when man
Capitalism succeeds because it is based upon one of humanity's
greatest failings... Greed.
Greed - the desire to improve one's situation - is not a failing; it
is a virtue.
Wow, I agree!
..
"The Utopia of Greed" in Atlas Shrugged comes to mind :)
Tristan
---
You are currently
Tristan Petersen wrote:
Capitalism succeeds because it is based upon one of humanity's
greatest failings... Greed.
Greed - the desire to improve one's situation - is not a failing; it
is a virtue.
Wow, I agree!
..
"The Utopia of Greed" in Atlas Shrugged comes to mind :)
[EMAIL PROTECTED] wrote:
"What you say is true (altho it would violate the terms of governance
of the e-gold system) but it is beside the point of what I understood
to be the original topic. Namely, the assertion that the use by
a 3rd party, such as SR, of e-gold to back another currency,
Greed - the desire to improve one's situation - is not a failing; it
is a virtue.
True. As craig said, we don't have the proper words to describe the good
form of greed vs. the common connotation of greed. Well, we do have the
word 'avarice'.
There are plenty of proper words in the
On 13 Apr 2001, at 11:38, CCS wrote:
Because you introduce a new risk. The unit of account of the new digital
currency system is then no longer backed 100% by an hard asset (gold) as
soon as you use credit instruments to increase your broad money base.
Huh??? A risk for which
Since we don't know what happen with the proceeds from the
issuance of these e-gold bonds, the risk cannot be controlled.
That is how I understand fractional reserve banking.
I don't think your terminology is correct. I don't believe bonds can be
issued that way. However, that's not the
Because you introduce a new risk. The unit of account of the new digital
currency system is then no longer backed 100% by an hard asset (gold) as
soon as you use credit instruments to increase your broad money base.
Huh??? A risk for which currency? There are two units of account
On 13 Apr 2001, at 14:11, CCS wrote:
Namely, the assertion that the use by a 3rd party,
such as SR, of e-gold to back another currency, such as AUG, would
introduce risk to e-gold itself.
I don't remember saying this. The risk I mentioned was for the
currency that is introducing fractional
Claude wrote
I agree with this. But it could also be e-gold itself that issue those
loans and then the digital currency system that is e-gold could
become in default and go bankrupt.
This would be in direct violation of the user agreement. e-gold ltd.
cannot simply create e-gold out of
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