"Eric Gaither, Gaithman's E-Gold Exchange" wrote:
>
> > Why not accept only bank wire and Western Union transfers?
>
> We are always streamlining our payment options. Did you know that
> money orders and postal orders can be counterfeited?
I've heard of this. Characteristic of "creatable" paper-type money.
> Checks can be reversed up to 30 days (in some cases) later?
Did not know checks can be reversed.
> Credit cards can be "charged back" months down the road?
This is known and an awful capability especially if dealing in large valued
items sold at a distance. Credit cards and the system that supports them are
scary. In fact all systems of credit should be banned from the face of the earth
as public enemy #1:
Date: Sat, 30 Dec 2000 16:26:09 -0600
From: Dan Meador <[EMAIL PROTECTED]>
One of my list subscribers forwarded the URL for Federal Reserve tabulation of
American debt from 1959 through October 2000. Check it out at
http://www.federalreserve.gov/releases/h6/hist/h6hist1.txt
In January 1959, the nation had what I presume to be a cumulative private debt
of $643.7 billion. By January 2000, the cumulative debt was $17,454.7 billion,
with the October 2000 figure clocking in at $18,115.0 billion, or a 10-month
increase of $660.3 billion. In other words, in the first 10 months of Y2k,
American debt increased in excess of the nation's cumulative private debt
through the first 170 years following implementation of the Constitution.
Even at the nominal rate of 5%, the interest payment on existing debt as of
October would be $905 billion in the next year. That figures in the neighborhood
of 15% of GDP if we have a good year. If the economy heads south, as increasing
numbers believe it will, the liquidation grist mill will take over. It isn't a
comforting prospect.
On a per-capita basis, the cumulative debt is about $72,460. If you don't have
your fair share, you're obviously doing something wrong.
Dan Meador
> Bank wires ca be reversed for up to 24 hours?
Didn't know this one either. Treacherous ground you fellows are walking on....
> Even cold hard cash can be counterfeited.
Yep. Try counterfeiting gold.
> (And W/U is SOOO expensive it is not
> cost effective, not to mention they do not like people using it for e-gold
> transactions!)
I've had some strange experiences with WU. I think they were created and operate
SOLELY to remove cash from circulation. You can put cash into WU as cash but you
get back a check they refuse to cash - gotta run it back through the system.
Personally I am very hesitant to support WU.
>
> >Optionally I
> > could have these wired directly to an e-gold based debit card account if
> such a thing were properly available and affordable.
>
> We are all waiting with baited breath for this to be reality. If you
> catch wind of it happening, please let me know!
>
You and everyone else.
--
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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