Well, let me see if I can ELI5 it for you so that hopefully it will become apparent that it is NOT a pre-mine type of application.
Think of the emu "ecosystem" as a giant ball tank.
http://25.media.tumblr.com/tumblr_ln10vlpiY31qjd5ryo1_500.jpg Once your "inside" the ecosystem there are a fixed number of balls (which is where the incorrect application of the term premine probably comes from). You can trade them around with each other and eventually there will be different colors (asset types) that will be freely traded "within" the ecosystem ball tank. Thus hatcher-to-hatcher, client-to-hatcher transcations are happening "inside" the walls of the ball tank and thus no need to expand (inflate) or shrink (deflate) the walls of the tank since there is "just enough" density so that everyone can transact easily (i.e. optimized level of fun).
The only way balls are added into the tank are by those wanting to "jump in" from outside the ball tank. As they exchange fiat for balls (and no one inside the tank wants to sell them any of their balls) then the ecosystem senses this additional demand and creates new balls for everyone (50% to the hatcher / 50% evenly, equitably and proportionally to every kid in the tank based on how many balls they already own). Once someone in the tank says "Yeah, I think I'll sell some of my balls for fiat" he places a sell order and it is distributed to the new kid who then gives him the fiat (with a minor txn cost to the dealer).
The above is a very simplistic explanation, but it allows you a way to hopefully visualize how the system works.
Fundamentally, the conceptual arguments for this type of optimal economic model have been debated across multiple competing theorists as the ONLY sound way to accurately promote trade and commerce. The only roadblock prior to emunie was that we did NOT have the available tools necessary to truly establish a non-human method of managing the system.
If you have time, I might recommend that you peruse the following link. This is a debate from 1976 whereby noted economist Henry Hazlitt discusses the problems with the Monetarist's (i.e. Quantity Theory supporters) model of managing a currency with the only available tools at that time: People
Keep in mind whilst reading for how each of the holes in his argument are effectively negated through the implementation of an emunie ecosystem since the control is now programmed and automated without the reliance on "imperfect information" exchange.
Where the Monetarists Go Wrong
AUGUST 01, 1976 by HENRY HAZLITT
http://www.fee.org/the_freeman/detail/where-the-monetarists-go-wrong#axzz2q6AN0Ku8