On 7/16/15 3:19 PM, Marv Gandall wrote: > Louis has made much of the time factor in introducing and > distributing a new currency. I’m not clear as to what precisely he’s > referring to when he asserts there are years of complicated computer > programming required to implement the change.
I recommend that you look at the comments thread under my article at Naked Capitalism for anything posted by me, Yves Smith, Nathan Tankus and someone named Clive. Here is Clive: You’re right vlade, it isn’t a technical impossibility at all to make the system changes. It can be done and it has been done before. The outline description of the change itself is pretty much as you describe. The issue is when people start making unsubstantiated claims that it is “quick” or “easy” to do. It is neither of those things if the change it to be introduced reliably. And one party cannot simply implement the change unilaterally. It requires cooperation between the various participants and an agreed standard to abide by. These are not in place yet. Even in the ISO currency code, you’ve ended up making an assumption that it would automatically be GRD. Some participants in the global payments systems would not want GRD resurrected because it would cause issues with historic data (how could you tell the difference between “old” GRDs and “new” GRDs ?) So they’d be lobbying for a new, different ISO currency code. They might end up losing that argument. But the argument would have to happen and reach a majority settlement. That’s before a single line of code gets changed. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
