Wednesday, December 20, 2006

Bank Naiveté

Rand's post
Drop a billion dollars worth of bullion on the lunar surface. Whoever can get up there, and bring it back, gets it. There'd be no way to pull the prize money off the table with such a scheme.
Got me to thinking. Why worry about hauling it back? You've got a stack of bullion, it's assayed - set yourself up as an offshore bank.

Okay, it's way way offshore but the idea has it's merits; you're security staff can be minimal for a few years and just getting there to steal it presents major logistical problems.

The requirements for an offshore bank ... well there don't appear to be any. Your bank needs to be trustworthy, and able to prove your assets exist which we've done.

More seriously - since the government is not about to stash bullion on the moon - why not find an asteroid, assay it's metal content and use that for your assets?

What is the flaw that keeps this from being a workable idea?

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