> >If I have misinterpreted your plan for a socialist economy please correct
> >me. I just don't see how the flexibility of money can be achieved without
> >some form of intermediary which has no intrinsic value.
>
> You could have an intermediary which does have intrinsic value and
> therefore isn't so easily inflatable. Gold coins, shares in mutual
> funds, or corn futures might all work.
>
> Tim Freeman
The August '96 issue of Wired says that "the US is built on a US$7
trillion economic engine, only $300 billion of which is in cash."
What will happen when cash is replaced by private cash cards (cards which
use encryption to allow private transfer of electronic cash which exists
only as bits on the cash card). Would these bits still have to mean
something? Would the government still have to say how much money exists
in "cash" even if that cash is only made up of bits?
--- Onward, Upward and Outward! Geoff Busker < gbusker4604@vax2.winona.msus.edu >