"Eric Gaither, Gaithman's E-Gold Exchange" wrote:
>
> You are sooo right about things not working in their current state. I
> personally have been hit for close to $18 K in bad checks (not counting the
> ones I never even bothered to deposit) this MONTH alone. These were from
> people in the US, all the details panned out (banks verified funds
> available, addresses, so on) but they turned out to be counterfeits of
> legitimates.
>
> Now, the trick is to convert the rest of
> "old economy" (fiat users) into converting into the Gold Economy (bullion
> users). To do so, we must accept their currency (checks, money orders,
> credit cards, etc.) to issue them gold currency.
> If we create a method to verify all endorsers *cost
> effectively* and quickly, that means we can id someone, anyone, anywhere,
> rather quickly. Imagine the fear such technology would spread. Look at all
> the postings on this list ALONE from people who fear giving out their SS #.
> Such technology would ultimately lead someone to create opposing technology
> for those who DO NOT want to be able to be identified so easily.
>
> I guess what is needed is the best of both worlds. A method to verify
> someone is "trustworthy" when making payment without needing to know *who
> they are* in a sense.
> I am always looking for a
> better, faster, cheaper way to work. If you have some thoughts, please
> share. If they work, I will share the returns with you.
Hi Eric,
This discussion is very positive bringing out a lot of hithertofore unknown
details at least to me. Seems the market makers, by accepting checks and credit
cards, are open to fraud and scammers by the very nature of checks and credit
cards. Why accept them at all? I admit this allows for quicker growth of the
number of gold accounts and convenience for customers but such a practice opens
up to "low life" types.
Why not accept only bank wire and Western Union transfers? These are all paid
for before remitting so we are back to an asset based and verified currency.
This one tactic would eliminate a broad array of risk. I can transfer funds from
my bank to any other bank with a single phone call. That's not too inconvenient
for me to do. I realize some would like to eliminate banks and the FED
involvement as soon as possible. I agree. But until there is a viable and global
alternative we must use what we have at hand. In fact the sales from my internet
online catalog are wired directly to my bank from another bank. Optionally I
could have these wired directly to an e-gold based debit card account if such a
thing were properly available and affordable.
--
Regards,
Dale Pond
Delta Spectrum Research
http://www.SVPvril.com
Sympathetic Vibratory Physics
Sacred Science - Sacred Life
SVP Discussion Forum:
http://www.egroups.com/list/svpvril/
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