Craig >E-Dinar just has an interface to the E-Gold system. An e-Dinar account IS an >e-gold account. Until recently, you could log-in to e-Dinar with your e-gold >account information, if you so chose. You can still do SPENDS between the >accounts.
You are quite right. It is a factor which we mention in our report and indeed this possibility of across the wall spends simply aggravates the position. e-gold Ltd and e-dinar Ltd are separate entities in law. The agreement with DNATA/ trading asTransguard specifies that Transguard will create a sub-account in the name of e-dinar. Gold from the e-gold main account can be transferred to the e-dinar sub-account only with the signatures of e-gold and its Escrow Agent. Once in that sub-account, it cannot be returned to the e-gold account without the additional signatures of e-dinar and, in terms of the e-dinar internal arrangement also its Escrow Agent, i.e. four signatures in total. We are talking about transfer of interest in the physical gold here. As long as a bar of gold is reflected as being in the e-dinar sub-account it serves to back the interests of account holders of e-dinar not e-gold. Similarly all physical gold in the main account, but not in the e-dinar sub-account can be claimed as a backing for e-gold, but not e-dinar account holders. If you make a spend from e-dinar into e-gold you will be making a digital transfer, but you will be leaving your physical gold backing in the e-dinar account - until of course the representatives of all four agencies decide its time to transfer some of the gold back to the e-gold system. In the event of e-dinar being liquidated at any time before the physical reserves are balanced out in this way, then the gold recorded as being held by Transguard in the e-dinar sub-account could be liquidated to meet the claims of the account holders of e-dinar, and if it can be seen as a gold backed currency, most likely its sundry creditors as well. The possible complications are endless. The e-gold Examiner should show how many of the gold bars held in Dubai have been signed off to the e-dinar sub-account and should reflect information about cross currency movements. Kind regards, Elzbieta _________________________________________________________________________ http://www.citydeep.com --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
