> The mines are silly not to just do the simple thing and use what's > already there -- e-gold, but they're welcome to try this scheme. I > just want to see the fine print, I guess.
Well, I looked up some more information and there is a small commission indeed. 0.02% per month, which covers everything, storage and management of the fund. Some of the fine print that may interest you: "The WGC Gold ETF will be listed on the NYSE once it has received final SEC approval. Each share will represent 1/10th of one ounce of gold, and at current gold prices, will trade at around $35. More important, each share will be backed by 1/10th of one ounce of physical gold, deposited with Hong Kong Shanghai Bank in London. The gold will be allocated which means that it cannot be lent to bullion dealers and/or used in the gold derivatives trade." EOQ 0.02% per month is five times less than what e-gold is charging and there is also no 2% above spot step in cost. So, somebody who is using e-gold as a way to be invested in physical gold without the usual costs and hassles that go with it, will be far better off using this new gold ETF. For example taken over a 4 year period, somebody who invests 100 ounces in the gold ETF will still have 99 ounces after 4 years, while the person who does so with e-gold will have 93 ounces left. Make it 20 years and the ETF investment will be worth 95 ounces , while an e-gold account will have only 77 ounces left. > > > >Slow exchange process??? It will trade like shares of IBM, GM, or whatever > >you like. > > Try getting a stock brokerage account, now. OK, create an e-gold > account, right now. That's my point. I have opened brokerage accounts, futures trading accounts and even Swiss bank account all online just like you sign up for e-gold. And I am not even living in the US. Don't believe me: www.internaxx.com will open you a brokerage account in Luxembourg, www.xpresstrade.com and you will be trading futures within a few days. www.swissnetbank.com and you have a swiss account without leaving your home (the US has tried to stop this one , but didn't succeed). It is really no problem at all. Moreover half of the US households have brokerage accounts already, and in Europe most people buy stocks via their regular bank, so a whole bunch of people can buy and sell the gold ETF as soon as it is launched, using companies they trust already. For more details about the new gold ETF, here are some articles with our good friends at kitco and gold-eagle: http://www.gold-eagle.com/editorials_03/hathaway051603.html http://www.kitco.com/ind/Calandra/mar282003.html Danny --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] 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.
