Re: (X:x)e$ 's other use

[Scott Schryvers <schryver@radiks.net>]

At 10:30 PM 3/26/96 -0800, you wrote:
>At 04:05 PM 3/26/96 EDT, E. ALLEN SMITH wrote:
>> The
>> Fed has done an actually rather admirable job of standing up to the pressure
>
>Every couple of years the politicians start leaning on Greenspan.  Greenspan
>lets it be known they are leaning on him, the money markets mark the 
>dollar down and the politicians stop leaning on him.
>
>The Greenspan standard is not a good as a gold standard, but its not bad.  Only
>trouble is he is mortal, unlike gold.
>
>Come to think of it, there is actually some crypto relevance here:  Internet 
>currencies will be necessarily non physical and it will be difficult to go
>after the issuer in the event of default, so the best currency will have a
>value that depends on peoples belief that the issuer will defend the value
>of the currency.

Strange how religion and monetary markets work.
They both demand the suspension of fact and or physical items in favor of
some ethereal object or person's view of reality.

I'm not saying that the dollar is some object that does not physically exist,
I'm just saying that the value inherent is no longer based on a physical item.

Question. 
If e-cash were backed by gold would that make it more reliable than say the 
dollar?  


PGP encrypted mail preferred.  
Scott J. Schryvers <schryver@radiks.net>
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