Dear Friends, It seems to me that GoldMoney, Pecunix, and the Liberty Dollar all have good claims to serious audit trails. E-gold is fairly notorious right now in having essentially no audit trail since at least February 2001. E-Bullion has had audit-like reports for some time.
However, I will say that there is something more significant than audits in establishing whether or not to trust a currency. Audits, after all, can be faked. Why is the name "Arthur Andersen" a joke right now? They performed audits which were published with the annual reports of notorious outfits like Enron and the like. You can look it up. What good does it do you to have an audit if the auditors don't point out major failings in the books of the company in which you are investing? (Using a gold currency is a form of investment - you are trusting your gold to their care.) One currency, 1MDC, has never had any sort of an audit. None. But, it is trusted because of the high profile and tremendous trust factor relating to its principals. I trust e-gold to be there when I want my gold because I've met its principals. I've read up on their past history. I understand what drives them to create "Better Money®". I trust e-Bullion, GoldMoney, the Liberty Dollar, and Crowne Gold for the same reasons. I believe that Pecunix has similar quality. Thus, these are or may soon become currencies supported by Cambist.net. If you can trust the people with whom you are dealing, you can get good business results. And if you cannot trust those individuals, if they have proven false or untrustworthy, it doesn't matter if you have a photocopy of their state-issued ID, it doesn't matter if you have a ton of audit paper, it doesn't matter if you have sworn affidavits from a hundred trade references. It is in the nature of the scorpion to sting you. The same issues which apply to gold currencies also apply to exchange providers or cambists. That's why you can learn all about the principals of Cambist.net by visiting our parent company web page: http://goldbarterholdings.com/principals.cgi Click on the CV for each of us, and read all about our backgrounds. These same issues apply to investments, as Mr. James A. Donald seems to know. There are three things that I look for in making an investment: First, is there a plan to make money? That's sort of a pre-requisite, a necessary but not sufficient condition. If there is no plan, then there is a high risk of failure - most businesses fail from lack of planning or lack of capital. Second, is there a team competent to implement the plan? That's also a necessary but not a sufficient condition. If there is a qualified team, then on to the most vital issue: Third, can I trust these people with my money? Trust is earned, not given. If it is given away, it has no real value. Trust begins with a relationship. If you can't relate to these people, if you cannot understand their motives, if you are lied to by them, if you have reason not to trust their motives, don't invest. I think applying these three matters to Graham Kelly's offer, or to the high yield "programs" you hear about, or to Gold Barter Holdings, or to putting your gold in the hands of, say, the folks at e-Bullion.com, are equally sensible. If you can trust the people involved with your money, then you can go forward with confidence. If not...there are plenty of other places to put your money. Say, Graham! Where's your Curriculum Vitae or resume? Ragnar points the way to:
http://www.webleyweb.com/tle/
As a frequent contributor to _The Libertarian Enterprise_ as well as to Ragnar's _Liberty Impact_ I wholeheartedly concur. You'll find a letter to the editor from me in the current issue, as well as pointers to earlier articles by me. I write so often for them that I should soon update: http://www.ezez.com/free/freejim.html which no longer includes all my articles there. Skip all those gold-age links, though, and click over to http://cambist.net/ for best results. ;-) Regards, Jim http://cambist.net/ --- 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.
