Peter's position has always been illogical. He always has a slimy explanation of why his system should work (but doesn't).
TheNewSaint wrote:Or, if Peter can create currency out of thin air, why can't I? What do I need WeRe Bank for? I can just write you a promissory note and you can write me one, and we can happily draw against each other's accounts.
We can all invent our own currencies, such as my very own Fred Unit (FU). I'll sell you as many FUs as you want, but they are totally worthless, just like Res.
Nothing is stopping you, or anyone, from trading with promissory notes or potatoes or paperclips, if both parties agree. Peter used to make the false claim that suppliers were obliged to accept PNs as payment. It was a simple claim, and a simple lie.
I think his early claims breached the Fraud Act, but he then became cautious and stopped making those claims.
Peter wrote:We provide a list of people and businesses prepared to accept the PlanetReServe currency – The Re and ReSDR.
I've never seen that list. But I suppose it is empty.