On 2 Dec 2000, at 12:54, Elwyn Jenkins wrote:
> I think we need to see this in terms of the growth of the whole gold
> economy, and not just the e-gold community. The Gold Economy (the economy
> where gold is money) is comprised of E-Gold, Standard Reserve,
> Metalsavings, eDinar, market makers and so on.
Elwyn, for sure there are many parties in this economy. But the
back bone remains e-gold. And the best mesures of this growth are
the metal in circulation and the growth rate in e-metal spends.
> This month Standard Reserve added nearly AUG 50,000 (gold grams) to the
> economy through currency sales -- that is part of the e-gold increase as
> well!
A good start.. I can imagine how the growth will accelerate once
your debit card comes alive. I have no doubt many are waiting for
this launch before they open their account with SR.
>There are also sales of e-Dinar which have deposits in e-gold backing their
> currency.
I am at lost to understand the link between e-Dinar and e-gold.
Why are they using a site that is a copy of the old e-gold site and
showing a currency balance that is exactly the one of e-gold. Is it
only e-gold window on the Isalmic world.
> The total Gold Economy (the economy in which gold is money) is very
> healthy with the total circulation is re-spent every 3 days.
Are you sure about this figure. This would mean something like
$300-$400 per spend on average. With the average account funded
with 60% of that amount, I can't see the average guy turning over
more than he has in its account, do so in less 3 days, and repeat
the process again and again..
> As Standard Reserve and Metalsavings gets going we are going to see the
> total Gold Economy rapdily increase in total circulation and in the number
> of times it recycles per month.
Add to this the fact that the gold currency is now at rock bottom
versus the fiat currency. A long term trend is about to start and will
help us, the evangilists, to convert more and more people to the
gold discipline.
> In about a month, any person will be enabled via Standard Reserve to use a
> Standard Reserve Instant Anywhere account as a current account.
Question on this one Elwyn. Will the debit card users need to
maintain a balance in SR-Dollars or will they be able to maintain
only SR-Augs. In other words, when taking out paper currencies
from an ATM, to which account will the debit be applied?
> I know of one company who is planning on all employees being paid through
> Standard Reserve from 1 January.
Great... I guess it time we start talking to the gold producers about this.
They are the first who should join the Gold economy. I have started to mention
this to some of my contacts... and there is some hope.
Long live the Gold Economy.
Claude
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