Ginko vis-a-vis Northern Rock

So what does that prove? All it says is that the British government started issuing perps way back to redeem the National Debt. And those are the minutes of a debate anyway.

are there any records where the Brittish government convertered savings accounts into Perpetual Bonds?

It shows they wanted to convert perpetual bonds into maturable bonds.

You are the one that narrowed it down to just war bonds.

Ginko:

The only Bank in History that robs its customers and then has its victims getting up on a soapbox to defend it.

Well, I don't know about "bank", but quite a few of Ponzi's "investors" defended him and his scheme all the way to the end when it was proven there was no real investment and also no money to pay them back.

That was some really raunchy crow they had to eat after that point.

It proves that some people can't learn from history and are doomed to repeat the mistakes of it even while reading the history lol

Where I come from when people read what has been done historically that didn't work so well we try not to repeat it on the other hand ginko doesn't learn from history so is doomed to repeat it

Also why are you bothering to get into this argument again with this person so we can get stuck on the same detail over again lol history is repeating itself yet again

Huge difference

Converting perpetual bonds into maturable bonds is usually a good thing - it makes the bonds redeemable. ANd both are bonds. The people buying perpetual bonds knew they were getting bonds.

Converting Savings account balances into Bonds on the other hand is likely criminal in many parts of the world.

pfsh No shit!

Kewl! Self-referential redundancy! Surely a sign of the End Times (for this thread anyway). (IBTL).

It may have done, but I wasn't trying to propose technocracy. A technocracy is where the controllers of the technology try to use it to take power over others. I would hope that those who control the technology (LL) would instead use it to _empower_ others - largely because that's how they'd make money on their tier fees. Albeit, the open source client has allowed a little technocracy to creep in..

QFT

And same to Desmond's post. The very thought of bailing out a scam, makes my mind boggle.

I do.
Crazy house prices (predominantly caused by thousands of greedy individuals buying houses and letting them stand empty to artificially inflate prices) are the primary cause of the impending pensions crisis (not enough children being born due to people having no choice but to leave it until their 30s to start a family due to it being impossible to actually have a home any more - therefore not enough people projected to be in work in 20 years time to support the number of people due to be retiring). Not that this is relevant to the topic, but there you go.

I don't want anyone telling you what to do or how to act. I mean some sort of council who can to be an official voice of the residents. LL just do as they please without any concern for the man (woman, furry or whatever you may be) on the street.But they still tell us its our world.

Well you have a point there.

Its not our world at all.

I see what you are saying

A committee of sots that goes and talks to residents that anyone can address.

Which presents issues that Residents have for Linden Review.

Might be something worth while.

Thanks for the input folks.

As I said my reasons for starting this thread was to highlight financial events in first life connected with Second Life financial events. Ginko vis-à-vis Northern Rock is one such example, and I am sure there will be other such issues in the future.

It will take about 6 months to a year plus before we get any more data on this, that is a first life view on Northern Rocks survival as a profitable independent concern (or not as the case may be). Of course in the meantime Ginko may generate further news. We can wait and see and compare the two results on the (broadly) non-correlated economies

Of course there is the broader issue of financial services within Second Life itself (and if they should be allowed/regulated/banned, or "in game only" such as WoW's auction houses. Again we will see how event unfold.

Finally I would comment that Second Life financial services are on the radar screen of first life investment houses. I went to an investment conference this week (a very reputable UK investment provider/fund manager. Second Life was mentioned four times in an investment comparison context.