To: Jeffrey Epstein[jeeyacation©gmail.com]
From: Nikolic, Boris
Sent: Wed 12/9/2009 9:02:28 PM
Subject: RE:

Calling you in a minute!
B

From: Jeffrey Epstein (mailto:jeevacation@gmail.com)
Sent: Wed 12/9/2009 3:47 PM
To: Nikolic, Boris
Subject: Re:

hows 4 est

On Wed, Dec 9, 2009 at 12:35 PM, Nikolic, Boris IMa > wrote:

Agree.

In matter of fact, the use of barter still exists. Some sites such as

Craig list are using it. It is not predominant mean of trading on these sites but exisits. Making a global (and focused) Barter site could be big.

It would be cheaper (cuts conversion/transaction costs) and perhaps preceived as more fair (as you said money is like vagina - you would still get it, without seeing it).

but

(although

Money should be still used to cover final transaction cost to the site even barter could be used there).

Can you talk any time between 1pm and 2:30pm PST - 4-6:30EST your time? B

From: Jeffrey Epstein (mailto:jeevacation@gmail.com)
Sent: Wed 12/9/2009 12:44 AM
To: Nikolic, Boris
Subject: Re:

ffm only as a quasi currency.. barter is the biggest , Ebay makes no sense it need no computing power only , listings.--- if you want a boy and i want a girl, , we should simply exhange one for the other, however one of us is going to have

vaue left over.. ( obviously debatable, which one ). however it is rare to find a perfect barter partner, what we should do is have a computer say , boris you deliver the girl, jeffrey the boy, sam a car, melanie a watch, and make the switch .At the essence money is only to account for the difference of value in what we have to trade. when should we speak?

oris <  > wrote:

I was thinking of FFM for a while. I love that system. Taxes are the problem,

although IRS has already placed some system in place. In
addition, if
becomes a

bigger issue governments would place new taxes if system becomes bigger. Nonetheless, in my mind taxes are the smaller problem.

the award

1) Also, aren't FFM awards taxable? As far as a direct tax on user,

free

the most recent IRS ruling states (with some equivocation) that tickets are

they are

taxable IF they are earned in the course of business travel AND used

so

for leisure travel. This rule has proved too difficult to apply, enforcement

should

has been practically non-existent. For the future, though, we never underestimate the government's appetite for tax revenues.

of 1997

effect on

marketing

frequent

went

More importantly, the recently enacted 1997 Taxpayer Relief Act attempts to tax FFP transactions covertly. This new excise tax took October 1, 1997, and will have a significant effect on airlines and their partners, and on the frequent travelers who participate in flyer programs. For a number of reasons, this change to the tax code

largely unnoticed (and uncontested) by legislators and the general public. It has been dubbed the "stealth tax," a moniker which well conveys its insidiousness. While there is still considerable discussion and debate about the interpretation of the new law as it applies, e.g., to the use of miles by the host airlines themselves, and to the sale of miles by foreign-based programs, the following is generally understood and accepted: When a program partner (airline, hotel, car rental company, credit card, etc.) gives miles to a program member, the partner must purchase those miles from the airline that operates the frequent flyer program. The new law imposes a 7.5% tax on that purchase.

2) The creation of meta PPM program would be interesting.
However, here
we comes
to the problem that to me is bigger than taxes: In my mind the
bigger
problem
is all program partners include language in their FFP member
materials
that
states that FFP mileage, coupons and tickets may not be sold,
bartered
or
otherwise transferred for any type of consideration. At one
time, this
was a
$150 million-a-year business. It continues, but on a much
smaller scale
because
the airlines have aggressively pursued and prosecuted the
brokers,
sellers and
buyers.

It is very interesting to analyze the history of FFP, how they become, what and

when enable them (very recent history). From early cigarette
coupons and
various
stamps to modern credit card associated FFP.

Nonetheless, I still prefer some kind of conversion to information.

week,

Please let me think about that. Have few huge deadlines this which sucks!

Will call you tomorrow,

into

Re the second part of your email - I did not know that you are elimination of discomfort, disease, or poverty!!!

Boris

From: Jeffrey Epstein [mailto:jeevacation@gmail.com]
Sent: Tue 12/8/2009 9:09 AM
To: Nikolic, Boris
Subject:

frequent flier miles. is another form of world currency. .

problem is taxes, there is no system to tax trading in miles. so the gov't will eventually go crazy.. // The best work of the foundation would be to create money/value to be used to eliminate discomfort. disease, poverty. , there is no reason that a new form of distribution , can't be created. There is no shortage of food medicine , or information, at the moment the only thing available to the poor is info.

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The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments.

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments.