At 1:50 PM +0300 6/23/03, Danny Van den Berghe wrote: ... >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. >
Ah, much better (though their redemption policy is still irrational -- ANYONE will tell you that 400oz is the standard size of bar, and it's a nice hunk of metal. No need to redeem more, especially if you want to be trusted, IMO. >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." Very-good! The "A-word" = a step on the way to trust (but see above about redemptions). >EOQ ... (I'm not sure if e-gold's storage fees will stay the same for that long!) The e-gold storage fee is only 1% per year, not 1.2%. Also, e-gold is just plain worth more because you can do things with it that you can't do with this stuff BESIDES just being long gold. For similar reasons, ten tenth-oz coins are worth more than a 1oz. coin. ... >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. Interesting. I've always experienced delays/hassles when I tried this kind of thing. >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. But I don't have the stomach for futures! >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). > Hmm. >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. > And I hope they do. More demand for gold is a good thing. > >For more details about the new gold ETF, here are some articles with our >good friends at kitco and gold-eagle: Thanks. JMR PS In another list message, you said, "A company doesn't issue new shares when it doesn't need the extra capital." I think that was the entire Enron/WorldCom/Global-Crossing business plan, though! :) Remember what I said, DBourse might just be about TGC's making a *point* (or three!) along with making a profit! I refer here to their unflattering-description of competing markets, among other signs I've seen. --- 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.
