> > If you create 'e-land' , an e-currency backed by land ownership, you can
> > transfer pieces of the ownership just like we do with e-gold, but this
> > currency will be able to pay a yearly 'interest' based on the produce
that
> > comes from the land, instead of charging a storage fee for protecting
the
> > gold.
>
> That is already being done, but we don't call it interest and trade is
> person-to-person only. You might say that two people who complete a deal
> mail e-gold to shift a bar from left back row to front right row.
> Outexchanged are possible albeit with three months notice and the land is
> deeded to trustees for convenience. We call it AIM ;o)
It's being done, but not as a payment system like e-gold.
It exists as stocks, in the US they are called reit (real estate investment
trust)
Many of them trade on the stocks exchanges, and they typically pay high
dividends, currently ranging between 4 and 10% anually for most of them.
Gold is a non-productive asset. That's its big disadvantage.
A payment system based on land/real estate, could easily pay a dividend
instead of charging a storage fee.
George points out that a radioactive dump could come next door.
True, but there could also come a golf court with holiday resort next door,
raising the value of your land.
If the portfolio of land that backs the 'e-land' currency is sufficiently
diverse and geographically spread, both the good and the bad things that can
happen with land will even each other out.Overall, the average price of land
on this planet has been rising faster than the price of gold.
Management costs? If these reit's can pay such dividends I conclude that the
management costs were easily covered by the produce/rent from the land.
Constantly evaluating the property? Why? The market will decide the value of
a piece of the property portfolio, just like it does with the reits.
Jpm says that land may be confiscated. As far as I know that has been
happening with gold too.
If we compare gold with land, point by point:
Decay: gold: no land: no
Limited supply: gold: limited , although still mining an extra 2% per annum
land: obviously limited. Some categories of land are
actually getting scarcer (ex. forests)
Productive: gold : no land: YES
Conclusion: land is better than gold
Danny
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