[e-gold-list] Re: arbitrage -- goldGrams

[C. Cormier - Ormetal Inc.]

On 29 May 2001, at 20:23, Viking Coder wrote:

> However, the value of the gg is set by GoldMoney. 

Where do you see that GoldMoney sets the value of gg ? Their 
goldgrams.com site as well as their calculator have only one purpose: to 
give an indication of the current and historical exchange rates. GM 
transaction are all in grams an anybody can use the exchange rate he 
wants when making  a payment.

This statement seems to be very clear and indicates that a gg is worth the 
current real time price of gold:

"A GoldGram is one gram of pure gold and is the name used for the 
currency unit of GoldMoney."

GM deals only in grams. Unlike e-gold,  you cannot spend $2000 worth of 
goldgrams at a specific exchange rates established by e-gold. 

Claude








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