DCSB: James Turk; Dated Giants -- Why Bank Payment Systems Are Obsolete

[R. A. Hettinga]

--- begin forwarded text


Status:  U
Date: Mon, 17 Dec 2001 13:55:24 -0500
To: dcsb at ai.mit.edu, dcsb-announce at ai.mit.edu
From: "R. A. Hettinga" <rah at shipwright.com>
Subject: DCSB: James Turk; Dated Giants -- Why Bank Payment Systems Are
 Obsolete
Cc: James Turk <jamesturk at goldmoney.com>
Sender: bounce-dcsb at reservoir.com
Reply-To: "R. A. Hettinga" <rah at shipwright.com>

[The Harvard Club is now "business casual". No more jackets and ties,
but see below for details. While it lasts, anyway. Since the
dot-bomb, the suit-probability in the main dining room has been
asymptotically approaching unity. :-). --RAH]



               The Digital Commerce Society of Boston

                              Presents

                             James Turk
                          Managing Director,
                              GoldMoney

                           Dated Giants
                Why Bank Payment Systems Are Obsolete


                     Tuesday, January 8th, 2001
                             12 - 2 PM
                 The Downtown Harvard Club of Boston
                    One Federal Street, Boston, MA



For three hundred years the banking industry's monopoly on payment
systems has remained largely unchallenged. However, an analysis of
the historical development of bank payment systems makes it clear
that the competitive advantage heretofore enjoyed by banks is rapidly
disappearing. What is this competitive advantage, and why is it
disappearing? And why are bank payment systems unable to compete with
the new enabling technologies of global ecommerce?

James Turk is the Managing Director of GoldMoney.com, a company he
founded to build and operate a digital gold currency payment system
based on US patents awarded to him in September 1997 and June 1999.
He has specialized in international banking, finance and investments
since graduating in 1969 from George Washington University with a
B.A. degree in International Economics. His business career began at
The Chase Manhattan Bank (now J.P. Morgan Chase), which included
assignments in Thailand, the Philippines and Hong Kong. He moved to
the United Arab Emirates in December 1983 to be appointed Manager of
the Commodity Department of the Abu Dhabi Investment Authority, a
position he held until resigning in 1987. James Turk is the author of
The Illusions of Prosperity (1985), Social Security: Lies, Myths and
Reality (1992) and several monographs on money and banking. He writes
The Freemarket Gold & Money Report, an investment newsletter he began
in 1987.



This meeting of the Digital Commerce Society of Boston will be held
on Tuesday, January 8th, 2001, from 12pm - 2pm at the Downtown Branch
of the Harvard Club of Boston, on One Federal Street. The price for
lunch is $37.50. This price includes lunch, room rental, A/V hardware
if necessary, and the speakers' lunch. The Harvard Club has relaxed
its dress code, which is now "business casual", meaning no sneakers
or jeans. Fair warning: since we purchase these luncheons in advance,
we will be unable to refund the price of your meal if the Club finds
you in violation of what's left of its dress code.


We need to receive a company check, or money order, (or, if we
*really* know you, a personal check) payable to "The Harvard Club of
Boston", by Saturday, January 5th, or you won't be on the list for
lunch. Checks payable to anyone else but The Harvard Club of Boston
will be returned.

Checks should be sent to Robert Hettinga, 44 Farquhar Street, Boston,
Massachusetts, 02131. Again, they *must* be made payable to "The
Harvard Club of Boston", in the amount of $37.50. Please include your
e-mail address so that we can send you a confirmation

If anyone has questions, or has a problem with these arrangements
(we've had to work with glacial A/P departments more than once, for
instance), please let us know via e-mail, and we'll see if we can
work something out.


Upcoming speakers for DCSB are:

February 5 TBA
March 5    TBA
April 2    TBA

As you can see, :-), we are actively searching for future speakers.
If you are in Boston on the first Tuesday of the month, are a
principal in digital commerce, and would like to make a presentation
to the Society, please send e-mail to the DCSB Program Committee,
care of Robert Hettinga, <mailto: rah at shipwright.com>.

For more information about the Digital Commerce Society of Boston,
send "info dcsb" in the body of a message to <mailto:
majordomo at reservoir.com> . If you want to subscribe to the DCSB
e-mail list, send "subscribe dcsb" in the body of a message to
<mailto: majordomo at reservoir.com> . We look forward to seeing you
there!


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
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--- end forwarded text


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'



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