The liability level is from our point of view as issuer. This is the level
of customer digital accounts. The asset level is the value that is
maintained on behalf of the customer by the Trustees.

ej
++

-----Original Message-----
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]On Behalf Of Claude
Cormier
Sent: Thursday, March 15, 2001 12:05 AM
To: e-gold Discussion
Subject: [e-gold-list] RE: Standard Reserve Gold - question


On 14 Mar 2001, at 19:13, Elwyn Jenkins wrote:

> Standard Gold is Gold itself traded digitally in the liability level as
> well as the asset level.

Hello Elwyn,

Can you explain what you mean by "in the liability level" ?


Thanks

Claude


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