Did you realize, that in theory you could use 'some' shares to back 1MDC term lodgements? It's still gold after all... I know, I know, you'd never do it, but you 'could', you know.
It's not so much that it "couldn't be done" -- you could start CurrencyX backed by TGC shares (!), or indeed backed by anything you want. (See Hayek's basket-currencies, etc.)
With 1mdc specifically, 1mdc just "is" e-gold, ie its simply e-gold sitting in a common account, so apart from anything else there's no mechanism at all for 1mdcGrams to have any other "form". if you said to ISL "forget 1mdc, start 2mdc which is a currency backed by Apple shares" it would be a complete start-over - if that makes sense.
1mdc is e-gold itself, but circulated electronically!
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