[Terrapreta] imagine this

[lou gold]

Yep, markets are tricky. They must develop over time. There will be crooks,
many in the beginning when monitoring is undeveloped. Across time the
community of interests that depend on safe transactions will intervene to
develop operational rules of the game. As in ALL markets, there will
continue to be frauds, scandals, scams and the like. I expect this to
develop into something no better (or worse) than any other transactional
system (public or private). The difference is in the bottom line of what is
being promoted through the trading. It could be terra preta. It could be a
healing for the earth and her peoples.

On Mon, Mar 3, 2008 at 10:25 AM, <MMBTUPR at aol.com> wrote:

>           from          Lewis L Smith
>
> Very interesting idea, but how would one monitor the transactions ?
>
> For individual transactions, it seems to me that the experience of Ebay is
> relevant and that is not exactly salutary.
>
> As for "packages" of credits, we might still have a monitoring problem,
> even if all the credits from a given municipality were "pooled" in some way,
> with guaranteed standards like the mortgages in the highly successful GNMA
> pools.
>
> In this regard, I recall the Allied soybean oil scandal in days when I was
> even younger than I am now !  A man claimed to have soybean oil in tanks in
> New Jersey and sold participations in the oil at a time when its price was
> rising. Only in many cases the tanks were mostly filled with water with a
> little oil floating on top. People got so swept up in speculating in and
> trading participations that many of them never sent anyone to check out the
> tank farm where their "oil" was supposedly stored. The rest is history. The
> perpetrator went to jail, but a lot of people never even got their money
> back.
>
> And nowadays of course, we have the subprime scandal. In this case, fraud
> has probably been committed in at least a third of the cases where the
> mortgagee has become delinquent within one year. And banks in Europe [
> supposedly fiduciary institutions ] have been left holding worthless
> mortgages on houses they have never seen and whose owner they don't know how
> to find.
>
> In Spanish, we have a saying, "Mucho hojo al pillo", which can roughly be
> translated as "Keep a big eye open for the crook"  [ who may be marauding
> near by. ]
>
> Cordially.  ###
>
>
>
>
>
>
> **************
> Ideas to please picky eaters. Watch video on AOL Living.
> (
> http://living.aol.com/video/how-to-please-your-picky-eater/rachel-campos-duffy/2050827?NCID=aolcmp00300000002598)
>




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