[FoRK] $30B a bargain for what it looks set to achieve?
<jeffreywinter at xefer.com> on
Wed Mar 19 11:57:04 PDT 2008
"On the other hand, even the oligopoly only works through
regulation in the form of semi-transparency requirements, depository
requirements, and so on. If the system went totally peer-to-peer, it
would probably require even more burdensome regulation in order to
maintain even the current risk profile, much less reduce it."
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The U.S. more or less had such a system in the 1830s: no central
bank; hundreds of banks printing money; hunreds of counterfieters
printing money; and hundreds of services offered to help tell
the good from the bad.
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