Sun. 10/03/21 18:20 EDT
.post #14
How about this:
Storage costs would be paid at the time of deposit, and the note would indicate both the amount of gold on deposit PLUS the prepaid cost and date of expiry. Notes would trade a premium, depreciating to the value of the deposit on the expiry date.
Example:
I deposit 100 g, pay a one year storage fee of 1 g, and receive, say, 100 notes, each entitling the holder to claim 1.01 g today, 1 + 3.64/365 g tomorrow, 1 + 3.63/365 g the next day, …, 1 + .01/365 g on the day before expiry, and 1 + 0/365 g on the day of expiry. Notes redeemed after the expiry date would be depreciated using the same scale.
Seems too cumbersome to work, but I guess it’s possible, theoretically.