Affairs of the Economy
August 9, 2007 by Q
Ginko Financial’s CEO, Andre Sanchez, of Sao Paolo, Brazil, has refused to release records of Ginko’s investments or financial history, and he has not revealed a clear plan for returning people’s money.
According to Ginko’s website, current deposits total more than $750,000 in U.S. currency–an amount that Sanchez probably can’t cover using his personal income.
Second Life has none of the regulatory apparatus that ensures your bank actually can give you your money back when you request it, or that somebody doesn’t just walk off with $12,000 from the stock exchange in their back pocket
In spite of the turmoil in Second Life’s financial sector, the game’s economy will survive as long as there is continued growth in the demand for virtual goods and services, as well as for real services, such as programming in-game systems. This is the future of Second Life’s economy, not casino closures or financial hiccups
