> > OmniPay is NOT like any other exchange provider. Not only is there
> > a past history of unity with e-gold and an incestuous relation amoung
> > the principals of the "two" companies but OmniPay has the exclusive
> > privilege of bailment.
> >
> > CCS
>
> e-gold ltd. is trying to maintain the purity of their metal backing. The
> reason Omnipay can bail in bars when nobody else can is that they have
> an account with Bank of Nova Scotia. If an entity, corporate or human,
> seriously wants to bail in bars they should create an account with
> Bank of Nova Scotia. Otherwise, every bar that is bailed in would have
> to melted, tested, and reformed to ensure neccesary purity
This is utter nonsense.
Concerning the gold market, you are only fantasizing how you imagine
it works. Read a book on the subject or talk to a commodities broker.
Concerning bailment, E-gold has disingenuously established the policy
that they simply will not accept bailment from anyone but
themselves (ie G&SR). [Otherwise, Goldfinger (which does really know
about how the gold market functions) would probably have started bailing
in their own gold before now and driven down the premium.]
CCS
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