In my view, Prepay is an optimal (which is why it is the Last Big Thing) instrument in the way that it enables the flows of value from:

(a) the capacity of people to produce goods and services; and

(b) the use value of productive assets over time;

to be monetised.

There are two key regulatory requirements however, neither of which was present in the case of Enron then or the Saudis now (who have inflated crude oil prices as a consequence of using pre-pay opaquely almost certainly with the connivance of J P Morgan).

(a) Transparency - so everyone in a market can see how many Units are in issue; and

(b) Quality Control - ie a 'Monetary Authority' who may act to review the true productive capacity which stands behind units in issue.

"The future is already here -- it's just not very evenly distributed" William Gibson