Thank you for taking the time to explain things.
e-gold et al should consider themselves lucky to have
such devoted followers.
In the words of that great American Philosopher Bugs
Bunny:
Just because it seemed like it wasn't fun, it wasn't.
I have to go back and try to save a railroad now!
--- SnowDog <[EMAIL PROTECTED]> wrote:
> Hello!
>
> I believe I'm beginning to understand why you're
> feeling uncomfortable.
>
> These presumptions are not correct:
>
> 1) Who's running an unlicensed bank? Seriously, I
> don't know what it is
> you're calling a bank. To be a bank, you have to pay
> interest. Private
> Digital Currencies do not fall under banking
> regulations. Look at PayPal.
> The only difference between PayPal and E-Gold, in
> this fundamental sense, is
> that PayPal does NOT buy any underlying assets when
> new PayPal dollars are
> put into their system, whereas gold is bailed into
> the E-Gold system for
> each new ounce of e-gold. It didn't have to be built
> this way; G&SR could
> have simply made 'promises' to back their currency
> and kept the money from
> the sale of e-gold in their own bank accounts. They
> chose not to do it this
> way because they didn't believe in it.
>
> 2) This is not a Commodities' Brokerage. There is no
> brokering and there is
> no leveraging. You're buying a private digital
> currency backed by gold. This
> is not a regulated industry in the US.
>
> Craig
>
>
>
=====
Dagny Taggart
__________________________________________________
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