The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
If a state is actually going to redeem currency with real estate, there either has to be enough to go around to cover broad redemption, or redemption needs narrowed down, probably a lot. If you go with a narrow system, a few holders would have real redemption rights, subject to use and commons rights held by everyone else. Hence my feudalism reference. If you go with broad redemption, you need a lot of fractional interests and derivative instruments that will be traded around but that are ultimately limited because the amount of real estate is limited (Even the US ran out of land to give away, and it didn't really take that long.). Hence my fear of a bubble, especially when the derivatives get loose and it all starts going the same way mortgages did.
My other concern with broad redemption is that it will become narrow, which seems to be the tendency. Mere mortals get shoved out by ever bigger players. Witness the banking industry and securities markets, or on the real estate side, tribal lands here in the US after P.L. 280 and termination policies or council housing in the UK after Thatcher.
by Frank Schnittger - Sep 17 86 comments
by epochepoque - Sep 4 8 comments
by gmoke - Sep 11 2 comments
by Helen - Sep 6 66 comments
by Frank Schnittger - Sep 2 19 comments
by Frank Schnittger - Sep 1786 comments
by gmoke - Sep 112 comments
by Helen - Sep 666 comments
by epochepoque - Sep 48 comments
by Frank Schnittger - Sep 219 comments
by Frank Schnittger - Aug 3050 comments