Dear JP, >Right -- I'm not sure if that makes sense though, Craig man.
Why not? >When you pay a storage or spend fee, it's simply an :"e-gold spend". It is an e-gold spend. To whom is it spent? E-gold, Ltd. So, that storage fee goes from the accounts of each user to the account of E-gold, Ltd. The spend fees are more complex, owing to the "progeny" issue. But, spend fees in part also go to E-gold, Ltd. >liabilities have to balance with assets somewhere ... No. That isn't what a balance sheet shows us. Liabilities plus owners equity equals assets. Revenues have to go somewhere. You are looking at a portion of the balance sheet of e-gold. Changes to that balance sheet will reflect various events. One of those events is revenues coming in. That's what Craig has observed: the monthly change in status of ownership of the gold, from all kinds of user accounts to the e-gold, Ltd., account. You aren't being offered a complete financial picture of e-gold. That would include a balance sheet, a cash flow statement, and an income statement. With those three pieces, you could gain a fairly clear understanding of what the company is doing, although obfuscation in the form of off books activities "special purpose entities" and the like can sow enormous confusion. All Examiner is providing is a detailed look at the gold holdings of e-Gold. It does not break out the amount held by e-Gold as "liabilities" for the circulating e-currency, as separate from the "equity" held by e-Gold itself. Now, examiner.html shows details. I am very impressed with the new examiner. It is just what I would have wanted, and much akin to what I asked for back in February/March when we were all wondering where one could get 400.0000 ounce bars of gold. As I said then, the weights of each bar are in fact known. We can now look at a page like: http://e-gold.com/examinerblowup.asp?id=100&metal=1 and see not only the specific weights, but also the refiners, serial number, and fine weights (gross weight of the bar times its purity) of gold in ounces and grams. Excellent. Well done, e-gold, well done! This sort of detailed disclosure is excellent, I think. It makes the price manipulation of gold that much harder. If all the owners of bullion were willing to disclose this sort of detail, if, for example, Congressman Ron Paul could get the US Congress to require such disclosure by the USA Treasury, and the other central banks were compelled by their respective governments to make such disclosures, it would be harder, I think, to securitize and create derivatives of and establish short positions greater than the volume of actual gold in hand. In any event, I am well pleased with this data. I feel much more comfortable knowing how much gold is at each location, with specifics. Regards, Jim Davidson President Gold Barter Holdings http://goldbarterholdings.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.