http://www.golddirectory.com/news.htm
A Couple of weeks ago I received from Schwab, my quarterly Bloomberg magazine 'On Investing', and just now started to read it. This magazine is distributed to thousands of Charles Schwab customers -- without having to sign-up for it. In there is a suggestion that gold may be a good investment and a report on E-Gold, and GoldMoney, as a means to make this investment. The magazine came out about the time that the number of E-Gold accounts started to Skyrocket, a couple of weeks ago. I wonder if it's related? It might also explain why the number of e-gold accounts greather than 10 grams has now grown over the past two weeks, while the number of accounts between 1 and 10 grams has remained fairly stagnate. These new people may be Investors. The article is about the prospect of gold as a current form of investment, and it's a long article. Here are the relevent paragraphs to the Gold Economy: "The Rise of the Gold Economy" "In the age of electronic commerce, most payments now take the form of digital signals rather than physical cash. And gold is just as easy to digitize as euros or yen. So several entrepreneurs have created their own gold currencies, which work like this: You transfer some yen, euros, or dollars to the manager of the gold currency, who buys gold for your account and deposits it in a super-safe vault. You then spend your electronic gold over the Internet or via specialized credit cards, just as you would any other currency. The gold, meanwhile, stays put; its ownership simply moves from one account to another." "Like any other form of money, these new currencies are subject to exchange-rate risk, should the price of gold fall. But their advantages -- including independence from any one country's troubles and sheer cutting-edge coolness -- have given the biggest of them, E-Gold, a growth arc that resembles a mid-1990s dot-com. In the past two years its account base has exploded from 3,000 to nearly 300,000, according to founder Douglas Jackson. It now holds 54,000 ounces of gold, equivalent to the annual output of a small-size gold mine. And this, stresses Jackson, has been accomplished strictly by word of mouth. 'Our marketing budget is zero.'" "Meanwhile, a financial infrastructure of credit cards, banks, and payment methods designed to handle gold currencies has sprung up around E-gold and its main rival, GoldMoney. 'It's now possible,' says Jackson, 'to live in theU.S. and exist outside the dollar economy.'" "Add it all up, and you get an upside potential for gold that's huge in the short run, due to the risk of a weakening dollar, and sustainable in the long run, because of demand from the nascent gold economy." SnowDog GoldDirectory.com --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] http://www.e-gold.com/stats.html lets you observe the e-gold system's activity now!
