Where fiat currency meets Monopoly money

This is just too weird.  Reuters has assigned a reporter to staff a "virtual bureau" tracking developments in "Linden," a fictitious country from an online virtual-reality game called "Second Life."  Linden's "real estate" has become such a hot commodity that about a year ago, a player paid $100,000 in real money (well, U.S. currency anyway) to purchase a virtual "space station."

The big story the Reuters correspondent has been following this week is the fact Congress is looking at how to generate real revenue from virtual assets.  Ugh.

(Thanks to Wendy McElroy via Lew Rockwell's site.)

The Daily Reckoning