> > 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.
How do you know?
I've been reading about the gold market on various platforms, especially
www.gold-eagle.com and from what I gather, the large physical bullion trade
only occurs between known entities, in a sort of 'gold-ole-boy' type of
network, for a similar reason outlined above; that certified 'good' delivery
bars can only be trusted when their whereabouts has been documented. If a
bullion bar is taken 'out' of one of the bullion banks, then it would have
to be re-assayed before it would be accepted from another bullion bank.
It is very likely that the restriction on bailment has nothing to do with
G&SR. Has anyone asked them?
Craig
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