> Also, from http://www.e-gold.com/unsecure/terms.htm it seems that
> the word bailment works better than "deposit," which has banking
> connotations IMO. (IANAL, though.) Also, just because it usually does
> not make sense to redeem something doesn't mean it's never going
> to be redeemed. Stuff happens.
I'd like to clarify this: Can we NOT redeem e-gold bars at this time?
According to the User Agreement, "Issuer will not attempt to suspend or
revoke User's conditional right of Redemption." -- except when the user has
his account frozen under 'Refusal With Cause'.
-----------------------------------------
3.3. Conditional Redemption
Issuer will redeem e-metal subject to these conditions:
3.3.1. Redemption medium - Issuer will redeem e-gold only with bullion
already in inventory. If, for example, Issuer is holding only 400 oz gold
bars, redemption demands specifying some other sort of gold bar will not be
honored.
3.3.2. Threshold redemption quantity - Issuer reserves the right to specify
a minimum quantity for redemption. This minimum is subject to change, with
advance notice, at the sole discretion of Issuer. In no case will the
minimum be less than the fine weight of the smallest bullion items held in
storage.
3.3.3. Shipping/Handling and Premium - Issuer reserves the right to charge
fees for shipping, handling and insurance incident to delivery in
fulfillment of redemption orders. An additional charge will be assessed for
redemption involving inventory items that command a market premium of value
over their fine weight.
3.3.4. Right of Redemption - Except as provided in Section 4.6.1, will
Issuer will not attempt to suspend or revoke User's conditional right of
Redemption.
----------------------------------------
So I maintain that we CAN redeem e-gold.
SnowDog
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