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Re: Internet Banking
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>>>>> "Matthew" == Matthew Bernardini <[email protected]> writes:
Matthew> 1) Who will insure your money ? Can you trust anyone but
Matthew> the US gov't to back your funds ? Even in the S&L
Not all banks in the world are a part of FDIC. Who said that an internet
bank would have to be US based? Are there NO banks that you feel are
trustworthy outside of the US?
Matthew> 2) A doctoral thesis could be written about this one, but
Matthew> what about the Federal Reserve ? You would wreak havoc
Many doctoral dissertations have been written on the Fed. Most of them
come to the conclusion that the Fed is an utter failure...
Matthew> 3) Interest Rates and Inflation ...
Matthew> 4) Interest Rates and Inflation ....
Matthew> 5) You guessed it, Interest Rates and Inflation.
Matthew> I think there are more economic issues than encryption
Matthew> issues to be considered in this case.
Two points:
1) A single bank would not have enough capital to significantly affect
world interest and inflation rates, even if all of its depositors acted
in concert to do so.
2) If you ignore that and assume that a new banking system grew outside
of government control with enough capital to affect the world markets,
why is that A Bad Thing? Do you really think that a large non-us-government
regulated bank would bring the world financial system to its knees?
Linn H. Stanton <[email protected]>
The above opinions are exclusively my own. If anyone else wants them,
they can buy them from me. Easy terms can be arranged.
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