Jan 9th 2008, 18:38 system announcement
by IntLibber Brautigan

Regarding New LL Banking Policy

ACE is not affected by the new policy, as we do not pay interest on deposits, and never have. We keep 100% reserves, because we are a stock exchange, not a bank. Its YOUR money, you decide how to invest it.

We have also seen no significant withdrawals from ACE, reflecting the publics confidence in the security of this institution.

As for BNT, BNT as a whole is worth ten times more than its deposit liabilities, as our latest financial report details, so we have no problem with meeting our liabilities.

BNT is also, in the real world, M2B LLC, a Delaware LLC. As a legitimate registered business, we are free to take on debt, and pay interest on accounts payable like any other real business. M2B LLC's Certificate of Formation is on display at ACE in Venture Square for all to see. There is no question that BNT and ACE are solid institutions with good futures ahead in SL.

As for the wisdom of the LL policy, leave that to the pundits, however I will note that LL insists that the L$ is a "licensed product", and thus it is paradoxical for them to prohibit legitimate businesess from paying rent on use of a "licensed product", or of requiring a banking charter to pay such rent on what they claim is not money. What is also paradoxical of them is to insist they are not going to regulate banks, but prohibitions are a form of regulation, as is any subjective determination of what constitutes "sustainable" interest.

Through all this, we continue to take your money seriously, and we appreciate your confidence and trust in us.