Is it just me or does anyone else get more confused as SR tries to answer what I
thought was a fairly simple question? The response given below to the question gets
more complex and confusing each time Mr Jenkins tries to answer it. Why does it take
a book to do this?
Also the whole operation is based in the US and according to a previous post, there
are a number of people with very close connections to the government involved with SR.
You are asked to give quite a bit of personal information in order to open an acct
including a SS# all this makes me very suspicious and starts my mind asking lots of
questions.
B Pate
------Original Message------
From: "Elwyn Jenkins" <[EMAIL PROTECTED]>
To: e-gold Discussion <[EMAIL PROTECTED]>
Sent: December 28, 2000 1:05:22 PM GMT
Subject: [e-gold-list] Re: e-gold / SR ??
Sidd,
In an ongoing discussion on this site you posed the following:
> If this is true, then how does the statement earlier by EJ, "there is
> not always the necessity to back Standard Gold 100% with E-Gold" fit
> into the picture?
> Hope someone can help me out on this one.
Here is an answer but the more definitive answer will take more than the
room we have here. In fact, I am writing a book which in the near future
will casr much more light on the subject, and on the Gold Economy site I
am planning and already writing some new articles to provide more answers
in this arena.
But a short answer to these questions is provided here.
Currencies
==========
The two currencies E-Gold and Standard Gold are both currencies that are
based on "gold" in a "digital" form so that gold itself can be used as
"cash". E-Gold and Standard Gold are not exactly the same thing. E-Gold is
"digital gold" that is exactly as the E-Gold website states, "gold itself
circulated electronically".
Standard Gold on the other hand is not "gold itself circulated
electronically". In fact it is "digital gold circulated electronically".
This means that instead of holding actual gold as the backing for Standard
Reserve holds "digital gold" as the backing for Standard Gold. This gives
Standard Gold potential that is simply not available with E-Gold. The
potential to use that digital gold backing to obtain growth of that asset
and therefore to be able to pass that growth onto the people who hold that
currency and to be able to sustain Standard Reserve into the future with
profits.
The Asset
=========
So in having a more liquid asset being E-Gold for which there is a market,
and there are people who earn their sole income in the form of E-Gold, and
there are businesses that are now beginning to base their entire activies
on gold, there is a market where those individuals and businesses may need
capital to grow. Standard Reserve will be in that market providing capital
from its asset backing.
If you take a look at E-Gold's asset, it has been growing for the last
four years and is a bulk of about $15m worth of gold or something of that
size. Daily activities of the E-Gold currency do not call on that asset.
Similarly, with Standard Gold's asset, it will grow, and over time it will
have a bulk that is not called upon on a daily basis.
This is the bulk of money that is in a liquid form that can be used to
loan people and businesses so that earnings can be made and dividends paid
to holders of the currency.
The plan
========
This cannot occur until we achieve two things: one, sufficient asset so as
to have a meaningful amount to "invest" in some way, and two, a plan in
place that ensures that the public's money is not at risk.
We plan to introduce this in the following manner. We will not expose the
entire currency to this risk -- and there is a risk here as in any loan
activity. In time we will be offering a special account type that can be
selected and only that gold backing those accounts will be used in this
"factional banking" style.
This is the opportunity fro Standard Reserve and of which you will be
hearing more about as Standard Reserve grows. Further detail will be in a
number of articles on The Gold Economy in the next few weeks. Look for
them. The first of these will be appearing later today in about two hours
from now.
Dr Elwyn Jenkins
The Gold Economy
www.goldeconomy.com
++
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