From: "Jim Davidson" <[EMAIL PROTECTED]>
> Every company has assets, liabilities, and equity. Sometimes > equity is negative. True, but in our example (e-gold) it APPEARS that assets >= liabilities, so equity >= 0. > A trust might not be a company. Yes -- in another email I said any "financial entity" has assets, liabilities, and equity. This applies all the way down to the level of individual human beings, who are financial entities. > I think the observation of Snowdog that the discrepancy > changes when the storage fee is applied is a strong hint > that the e-gold which is held in the e-gold account of > e-gold, Ltd., is not treated as a liability, but is still > backed by gold held by the trust. Yes, in a previous email Snowdog suggested that e-gold could not have a "liability to itself". So here's my E-Gold Creed: 1. I believe that the Trust has 1,952,954.93 gg of assets. 2. I believe that the Trust has a liability of 1,933,846.51 gg to e-gold accounts "in Circulation". 3. I therefore CALCULATE that the Trust has 19,108.42 gg in gold that is not a liability to e-gold accounts "in Circulation". 4. I believe it is POSSIBLE that e-gold, Ltd. considers their own gold account to be separate from ordinary accounts "in Circulation", and therefore would not include it in the 1,933,846.51 total. I don't know why they would do it that way, but it's possible. 5. I believe that the extra 19,108.42 gg is the property of someone other than myself, and is therefore none of my business. 6. I believe that neither e-gold, Ltd. nor the E-Gold Special Purpose Trust is obligated to disclose a full balance sheet accounting for the extra 19,108.42 gg. They have already given us more information than even 1mdc has: namely, total amount of gold assets and total amount of gold in circulation. 7. I believe that neither e-gold, Ltd. nor the E-Gold Special Purpose Trust will issue a full accounting of the extra gold. To be more specific, by midnight GMT of 06-Jun-2003, there will still be no answer. If I am wrong, I will pay 10 gg to Jim Ray's personal account. Consider that a bribe. -- Patrick --- 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.
