> Think about it though Jim - what you and presumably Craig are saying > is that e-gold take their spend fees / storage fees (read the > following two words carefully) *as gold* as opposed to *as e-gold*
Essentially, yeah, but they probably have an e-gold account which is not listed when considering liabilities. The point of this message, though, is that I just don't see why it matters. They're just providing information in the Examiner, whether they're listing THEIR account with their liabilities, or otherwise. The Trust maintains the gold. The Trust does not look at the e-gold in the e-gold accounts. The Escrow Agent is supposed to do two things: 1) make available an independent account for the gold in the vaults, (which we've yet to see); and 2) counter-sign for any gold removed from the vaults. Presumably, the Escrow Agent would prevent anyone from taking large amounts of gold from the e-gold system, without at least slowing the process. The primary purpose of the Escrow Agent is to help ensure confidence in the company, so that potential customers could feel confident that E-Gold, LTD. is honest -- and really does have gold. E-Gold LTD. has not scheduled any regular audits to ensure complete accountability, so no third-party KNOWS if the accounts balance. However, the Asset and Liability sheet is presenting honest information. They're listing their total obligations to their account holders, and they're listing the total amount of gold in the Trust, which backs those accounts. Either way they present it, it's the same information. What they really need to complete the picture, is a periodic audit. Craig --- 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.
