On 17 May 2002, at 15:20, SnowDog wrote: > > Any idea what Central Escrow Agency Limited is? I find no > > references to it other than in relation to e-gold, so I don't know > > if it's a third party or not. > > Yes, they are the same group operating the Centrul Fund of Canada, for > the past 40 years. This is is a gold and silver fund which trades on > the AMEX, under the symbol CEF. Their website is > http://www.centralfund.com/ . Last year they performed as E-Gold's > Escrow Agent, counter-signing when bars of gold were taken out of the > E-Gold System.
Thanks for the information. I find that reassuring, to the extent that I needed reassurance (although that is obviously not as much as some of e-gold's account holders -- part of my comfort level may be that I don't have a great deal of money in the system). > > E-Gold does. You either trust/expect them to fulfill their > > contractual obligations or you don't. If you don't, you shouldn't be > > dealing with them. If you do, you can still get screwed. Just as you > > can by the mechanic who tells you that he replaced the fuel pump, > > etc. This is known as "life." You have recourse to the courts in > > case of fraud. > > It seems to me that you're thinking of E-Gold more as a payment > system, than as an internet money. As a money, I would expect a higher > confidence level, than a payment system. I have complete confidence in > the owners of E-Gold. I have been convinced. However, it's certainly > understandable that others may not wish to keep a large amount of > e-gold, without more confidence in the system. I, too, have been convinced. However, I _do_ think of e-gold as "money" -- I just think of it as "money" in the same sense that most people do. Ever since the introduction of fiat currency, people have generally regarded "money" _as_ a payment system, backed by nothing more than the "full faith and credit" of a group of liars jotting down numbers in the ledgers of a central bank that is either controlled by, or granted a monopoly by, government. To the extent that e-gold _offers_ itself as a higher standard -- a real, gold-backed currency -- I suppose that they should be _held_ to a higher standard of verification; but an escrow report is enough for me to place more "faith and credit" in them than a bureaucrat's assurance that "yep, our meaningless numbers add up." The bottom line for me is that I try not to do business with people I don't trust, at least not more than once (then I _decide_ whether to trust them or not). I watched e-gold for awhile before putting any of my assets into it, and I found no reason to believe that they were engaged in anything but honest enterprise. Since coming on board, I've used e-gold in various ways, with nary a problem (well, actually I had a problem with a third party, but it wasn't a trust problem it was that my previous computer, an old Mac, couldn't seem to work with BananaGold's Java stuff -- now that I'm on a PC, guess how I'll be paying for my Amazon purchases?) I suppose it is _possible_ that some day I'll receive an email from someone telling me "try to log in! They're gone! They took the money and moved to Lima!" But I seriously doubt it. I figure I'm more likely to get stiffed for change on a twenty at the local department store. Regards, Tom Knapp -- "Anarchism is founded on the observation that since few men are wise enough to rule themselves, even fewer are wise enough to rule others." -- Edward Abbey --- 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.
