--- SnowDog <[EMAIL PROTECTED]> wrote:
> Kuram, my friend, it isn't that way!
>
> When G&SR bails in gold at $272/ounce, they
> immediately sell it.
How, when outexchange demand is bigger than inexchange
demand?
Now, if
> someone wants to exchange their e-gold for US
> dollars, it doesn't matter
> what the price was it was originally sold for; the
> relevant price is the
> current price and OmniPay could certainly bail-out
> 10 bars of gold to cover
> their OutExchange price.
They would have to take whatever the market and I
think they only deal with Bank of Nova Scotia? offers
them
Otherwise they would lower
> their OutExchange price.
Why would you go under spot?
> Craig
> GoldDirectory.com
>
> ----- Original Message -----
> From: "Khurram Khan" <[EMAIL PROTECTED]>
> To: "SnowDog" <[EMAIL PROTECTED]>; "e-gold
> Discussion"
> <[EMAIL PROTECTED]>
> Sent: Saturday, January 27, 2001 9:48 PM
> Subject: Re: [e-gold-list] re: Costagold
>
>
> >
> >
> > --- "SnowDog" <[EMAIL PROTECTED]>
> > > wrote:
> > >> 272 divided by 262= 1.038 which means that the
> price
> > >> of gold has dropped 4%.
> > >> G&SR/OMNIPAY/e-gold is playing head I win
> tails you
> > >> loose, no matter what they claim.
> > >
> >
> > Exchange providors make money on selling gold at a
> higher price then they
> bought it at.
> >
> > Since the price of gold has been recently
> dropping, G&SR bought bars at a
> higher price then what they would be redeaming it
> at. Lets conside the
> above.
> >
> > G&SR buys 10 bars at spot price of 272 which is
> highly unlikely but
> anyway.
> > $272 x 400 x 10 = $1088000
> >
> > Now G&SR bails in 10 bars at the spot price now of
> 262 and pays e-gold the
> 1% premium that it charges.
> > $262 x 400 x 10 x .99 = $1037520
> >
> > The difference is $50480. Have fund with that.
> > Khurram Khan
> >
> >
>
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Dagny Taggart
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