--- "James M. Ray" <[EMAIL PROTECTED]> wrote:
> At 7:21 PM -0800 1/26/01, Dagny Taggart wrote:
> >My point exactly Craig!
> >
> ...
>
> (Note how I elided the repeated text, so the signal
> to noise gets
> back to bearable, and instead inserted "..." -- some
> here might
> consider emulating this behavior for the benefit of
> unfortunates
> on the digest, since it _IS_ in the welcome message
> I'm sure you
> all read when you got on the list -- the same one
> that tells folks
> not to post HTML...)
Can someone here please explain what the essence of
the previous paragraph is?
> Anyway, please re-read (carefully) the following
> words. I'd note
> that OmniPay is like any exchange provider, and
> there is not a
> rule that exchange providers (or anyone else) must
> have public
> balances.
So it is going to continue to be OmniPay's policy to
keep secret its liquidity and solvency. That was all
I wanted to know.
> All of them are free to do so tomorrow,
> none have.
Some have. Look at the publicly viewable balances.
> If
> you want a market maker with a publicly viewable
> balance soon,
> I suggest that you start it yourself.
OmniPay has a very special position in this whole
e-gold universe, I don't think it is asking to much,
especially in light of the recent statement regarding
Costagold.
Are they trying to hide something?
> If you did, and you also wished to "take the fall"
> for others' fraud
> or criminality, that's your choice, but clearly
> that's not the choice
> most market makers make, including OmniPay.
No one is talking about taking the fall for anyone.
You guys live off some questionable activities on the
Internet. It just looks like you are behaving just
like them: Take the e-gold and not pay out.
> "G&SR
> may set
> value limits on individual and aggregate Exchange
> transactions
> based on the sufficiency of the identifying
> information provided
> by User or based on the need for making an orderly
> market" is
> right out of the user agreement. Seems to require
> due diligence
> from the way I read it...
No. It requires that Omnipay have enough money in its
bank account to handle the transaction. If Costa were
running off with $50K it would have gone unnoticed?
The only difference here is that it looks like you are
underfunded.
> The following words are from Reid Jackson to a
> customer today.
> JMR
>
> --- begin quote
>
> 2.5. Disputes Between Users
>
> 2.5.1. Any disputes that arise between Users are not
> the responsibility of
> Issuer.
???
This is from the e-gold agreement. The Costa Affair is
an OmniPay matter.
Last I heard you wanted us to believe that e-gold and
Omnipay are two different companies.
Get your story straight.
> 2.5.2. User acknowledges that e-gold is not an
> escrow service, and that
> Issuer does not make any guarantees regarding
> purchases made when using the
> e-gold service. User acknowledges that Issuer does
> not ensure the quality,
> safety, or legality of any merchandise received, nor
> that the seller will
> even ship the merchandise.
This looks like it is from the PayPal user agreement.
It says that you won't do what you have done by
seizing the Costa money and handing it over to your
lawyer.
> 2.6. Indemnification
>
> User agrees to indemnify and hold harmless Issuer,
> its agents, affiliates
> officers, directors and employees from any claim or
> demand whatsoever
> relating to or arising out of User's use of the
> e-gold system, except for
> any loss caused by negligence or willful misconduct
> of Issuer.
>
> --- end quote
23.Indemnification. You agree to indemnify and hold
PayPal, its affiliates, officers, directors and
employees harmless
from any claim, action, demand, loss, or damages
(including attorneys' fees)
made or incurred by
any third party arising out of or relating to your use
of the Service.
Right. The Costa Affair is not your problem. Why did
you get involved?
> OmniPay, the currency exchange service of Gold &
> Silver Reserve, Inc. and an
> e-gold User just like you and Costa Gold...
Aren't e-gold and OmniPay servers in the same
location? Same management and run from the same
offices?
>, has placed
> the funds in an escrow
> account rather than fulfill the exchange or refund
> the e-gold for the
> reasons stated in the public notice...
We won't escrow. We will escrow. We won't get into
customer disputes. We will get into customer disputes.
Sorry to have gone on like this but the truth to noise
level is sinking to all time lows.
> OmniPay will not take responsibility for refunding
> customers of Costa Gold,
> nor will the escrow agent. Refund of the escrowed
> funds [to Costa Gold] is
> contingent on provision of information from the
> principals or authorized
> agents of Costa Gold confirming that they are
> authorized to make disposition
> of the disputed value.
>
> Whether Costa Gold then refunds its customers or not
> is between them and
> their customers.
>
> Regards,
>
> Reid Jackson
> Managing Director
> Gold & Silver Reserve, Inc.
>
Dagny Taggart
=====
Dagny Taggart
__________________________________________________
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