[quote=Snave2000] The points you make are very interesting, but might I remind you that the concept of currency arose to facilitate the exchange of physical items. [/quote]
Not quite correct. Currency originated as a warehouse receipt for physical gold, silver, copper or ??? Possession of the note indicated the warehouse (bank) was holding that quantity of precious or semi-precious metal on hand. People figured it was better than lugging big bags of rocks and minerals around with them.
I am surprised you haven't asked an obvious question: If I don't own the chair just who does? Turns out there is corporation called the STATE OF ____ that believes it owns everything within its' territorial boundaries. One of the HUGE downsides of being a colorable person is that you must act the part in a communist setting.
As far as the Ellis machine, I have no way of knowing whether his machine delivers as he implies or not. I have ordered some water from Ebay just to try it (beats expending $1,700 in the short run). If it has any interesting effects I don't have any problem with committing a little fraud to get one from him if it makes him happy....:-)