[Terrapreta] imagine this

[lou gold]

Yes, good. I imagine that standards will evolve organically as you say
because the community of participants have a stake in fair practices. They
will pressure for public standards or create an association early on. The
process is a co-evolution of many ingredients. As in most public or private
level exchanges it will work most of the time and also have phases of fraud
and delusion.

On Mon, Mar 3, 2008 at 7:06 PM, <MMBTUPR at aol.com> wrote:

>           from          Lewis L. Smith
>
> The problem with credits is that they are intangibles, values created by a
> system, not a tangible object manufactured from materials or a repair job
> which produces a tangible change in the behavior of a tangible object.
>
> So many of the participants in the markets for credits will be at an
> information disadvantage.  Those of you who have had to buy a used car at
> some time in your life will know all about that !
>
> This is why I believe some kind of standard will be necessary from the
> beginning and may not just evolve spontaneously. Those who have the
> information advantage at the beginning will want to keep it, unless the
> public sector, a trade association or such like intervene.
>
> Cordially. ###
>
>
> **************
> It's Tax Time! Get tips, forms, and advice on AOL Money & Finance.
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