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Letzte englische Oldystunde!

verfasst von Oldy, 03.10.2000, 05:07

Das wird der letzte englische Beitrag in der Oldystunde sein für einige Zeit. Terra ist damit ausreichend beschrieben und ihr müßt eben warten, bis es eingeführt worden ist. Das hängt davon ab, wie lange es dauern wird bis sich einige Firmen finden werden, welche auf nur schleppend verkaufbaren Warenlagern sitzen, welche lagerfähig und genügend standardisiert sind. Soviel ich weiß sind es bisher erst zwei und wieviele sonst noch Interesse zeigen, weiß ich nicht und ich bin auch nicht ganz auf dem Laufenden..Die Entwicklung kann da manchmal sehr schnell gehen und vielleicht liest das hier ein Manager einer größeren Firma und setzt sich bei Interesse mit Bernard Lietaer oder mit mir in Verbindung. Alles ist möglich.

<font size=5>The costs of Terra.</font>
Now we come to the bad part. The costs of Terra. Oh, yes, Terra is no free lunch either. It will not cost much to do the bookkeeping including the accounts and even the record keeping will not be much more as companies have to do now to keep track of their stock. So now it is the stockpiles - the backing of Terra - which have to be kept recorded. Big deal! These costs will be charged as a percentage on the Terra accounts as will be the other costs of storage and spoilage.
Much will depend on the kind of goods in storage. In old Egypt, where a similar system was used and the claims for commonly stored grain in form of marked dated pottery pieces (called ostraca) were also used as currency the charge was quite high because grain is costly to store.
Similar to that the storage costs of the goods used to back Terra will have to be levied on the Terra accounts. Terra will have much lower costs because the backing includes products with very little storage costs like copper, therefore the cost will not be so high - and - to the mayor part they would have had to be paid by the one who stored them before anyway. Now he can charge the costs to Terra. No extra cost to the economy. The only one paying them later is the one who uses Terra as liquid asset and store of value instead of as currency.
Therefore every holder of a Terra account can avoid these costs by simply using Terra to buy something. It is doubtful whether he will exchange Terra for an other currency because of these costs if it is not also stable. As store of value for which Terra is not as suitable any more because of the cost of storage one can use thousands of other goods. Gold, Silver, antiques, wine, diamonds, precious stones are just a few that come to mind. There are also different kinds of monetary assets, when based on stable Terra can better than now perform the aspect of store of value. For instance bonds which with Terra have no more inflation risk. Also shares which have little risk in the benign business climate caused by Terra. Remember: Terra is stable by design for very little cost.
How little this cost is in reality is another facet of Terra, which we have not looked at so far. It will cost, as we mentioned before, about 4% a year to store the backing of Terra, which is, after all, only deposit slips for this backing. This may sound like a lot, but when one realizes, that these deposit claims will be used as money during the year 100 to 1000 times over the cost will be hardly noticeable at each change of hands.
It also means that only an amount of Terra and therefore of stored backing is necessary which corresponds to maybe a thousand part of the goods traded within a year. The trading volume of a third of a day against the volume for a whole year! Think!
Think and let yourself not be misled by the seeming impossibility of these facts. It is similar to the fact that on the stock market the price of a few shares traded is used to figure out the value of all outstanding shares.
Just the same goes for Terra. The value of a few, which are kept stable by their backing decides the value of the thousandfold trades done with them.
In this context it might be good to re-think the necessity of fractional backing which with a gold backed currency is always used to overcome the lack of money on the market caused by its over use as medium for storing value instead of its use as medium of exchange. With Terra it is not necessary to do any fractional issuing of Terra. It would even be contra productive and against the basic idea of Terra. First there are enough goods for backing and secondly will Terra stay on the market to avoid the costs of storage levied against it. Besides, it would be fraud to issue claims for goods which are not there.
Thinking of it - is fractional backing in case of gold, done since the time of the old goldsmith bankers not also - fraud?

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gesamter Thread:

Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 29.09.2000, 21:25
- Re: @Oldy: weitere Fragen zu Freigeld - Kleinanleger, 29.09.2000, 22:19
  - Oldy an Kleinanleger - Oldy, 30.09.2000, 00:14
- Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 29.09.2000, 23:41
  - Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 01.10.2000, 14:48
    - Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 02.10.2000, 03:12
      - Oldystunde auf Englisch - Oldy, 02.10.2000, 05:08
      - Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 02.10.2000, 21:48
        Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 03.10.2000, 02:03
        Letzte englische Oldystunde! - Oldy, 03.10.2000, 05:07
        Re: Letzte englische Oldystunde! - Diogenes, 03.10.2000, 21:28
        Re: Letzte englische Oldystunde! - dottore, 03.10.2000, 21:40
        Re: Letzte englische Oldystunde! - Oldy, 04.10.2000, 00:46
        Re: Letzte englische Oldystunde! - Diogenes, 04.10.2000, 23:01
        Re: Letzte englische Oldystunde! - Oldy, 05.10.2000, 03:52
        Re: Letzte englische Oldystunde! - Diogenes, 05.10.2000, 21:44
        Re: Letzte englische Oldystunde! - Oldy, 05.10.2000, 22:56
        Re: Letzte englische Oldystunde!(Jetzt richtig) - Oldy, 05.10.2000, 23:01
        Re: Letzte englische Oldystunde!(Jetzt richtig) - Diogenes, 07.10.2000, 21:53
        Re: Letzte englische Oldystunde! Dank ins schneebedeckte Fass! - dottore, 07.10.2000, 22:38
        Re: Letzte englische Oldystunde!(Jetzt richtig) - Oldy, 09.10.2000, 04:12
        Re: Letzte englische Oldystunde!(Jetzt richtig) Müdes Lächeln entspannt auch - dottore, 09.10.2000, 10:38
        Re: Letzte englische Oldystunde!(Jetzt richtig) - Diogenes, 09.10.2000, 20:57
        Re: Letzte englische Oldystunde!(für Diogenes) - Oldy, 09.10.2000, 21:33
        Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 03.10.2000, 14:45
        Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 04.10.2000, 00:22