At 6:39 AM -0400 6/26/03, Robert S.Z. wrote: >Hello JM, >Sorry but you do seem to be missing my point. Where is the benefit for our >little economy in 100,000 new accounts with an average balance of 0.05gg ?
Lots of people all over the world are reading email for pay, and they are slowly getting paid, and then converting their grams to whatever fiat currency is local. This benefits them and the exchanges that are smart/prescient enough to locate them & please them consistently. >Unless they all buy books - and quick - there is no circulation. ... There's PLENTY of circulation (and velocity! See stats!!). I think YOU are missing Reid's point. Find a currency that does what you wish in the real world. You can't. Why? Because it's rational for independent exchanges to charge a spread *BOTH* ways. This has been true for thousands of years -- chances are the ones Jesus kicked out of the temple were charging a spread both ways! e-gold used to be sold at spot-plus, and in the beginning this made sense to "jump start" its circulation, but now it makes sense for exchanges to behave exactly as they've behaved for eons, because people now know: e-gold is better money(tm). I was initially against this change in the spreads, but Reid has convinced me that it was the right thing to do. JMR --- 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.
