>> Claude Wrote
>Onthe contrary, James my feeling is that e-gold LTD is very much
>plain an simple, as it is a recent entity created many years after
>G&SR. The later is more complex because, in the beginning it
>created e-gold and probably owned in in totality or partially. The
>fact that G&SR operates the e-gold system and also is a market
>maker makes it even more complicated.
I must agree with Claude here. The e-gold governance model may be good but it is not
the best. It fails to hold e-gold Ltd. out of risk. G&SR is the opperator of the
e-gold system, and also its sole bailee (entity that can bail in gold). That being
said, we know that G&SR is in a competitive market with competition in both the
wholesale and retail markets. If G&SR was to fail(out of business, bankrupt, etc..)
then the e-gold system fails. No other entity would be able to bail in gold so there
would be a fixed amount of e-gold in the system, and not only that, no one would be
able to access their accounts which would make their "e" version of gold Worthless.
Khurram Khan
==
2 cents worth?
http://two-cents-worth.com/?135153
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