[e-gold-list] Malaysian e-gold walk-in funding needed
I Have someone in Malaysia who needs to just get a couple of grams into e-gold. Does anyone have some details I can pass along? e-dinar.com 's business page seemd very blank and I am trying to avoid any wire fees etc... cya, Andrew... --- 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.
[e-gold-list] Re: Is technology available?
Its an interesting question, that of security requirements for a global gold standard. No new technology is needed, if all the central banks of the world decided to deregulate interest rates and irrevokably peg their currencies to wholesale gold bullion. This is a policy decision. If undertaken the interest rates on all currencies would converge at a world nomincal interest rate, and global gold standard macro-economics would become effective right away, with adjustments to factor prices and allocations in economices to adjust.to shocks. All necessary security technology already exists and has existed for decades or even centuries, its just a policy matter. The two main fundamental forms of money are bank notes and bank accounts. The three fundamental forms of payment are physical transfer of bank notes, cheques delivered to and banked by the payee, and transfer instructions delivered to the bank by the payer. The methods of authentication are myriad. One can inspect bank notes for authenticating signals, check manual signatures on cheques for authenticity, and check manual signatures on transfer instructions. The technologies for making bank notes difficult to counterfeit and easy to authenticate are myriad, and include transparent sections, woven or embedded, special paper or polymers, watermarks, microtext, increasing or decreasing font sizes on words or numbers, serial numbers, back-front image mismatch indicators, special inks and colours and imprinting or marks on transparent sections. These technologies are geared to both give notes a distinctive look and feel that would be noticed if it were missing by most users, and to the ability of banks and cash dealers to use machines and specialist inspection to detect counterfeits. Manual signature authentication is normally based on comparison with an example on another document. This can be done with the help of technology such as scanning and electronic records. David Hillary --- 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.
[e-gold-list] Re: Return to gold standard
The approach of comparing gold reserves and money is so totally wrong I can't understand why it would afflict so many people on this list. The value money held at a bank must be the lesser of its redemption value and the value of the bank's total assets to total liabilities (assuming all liabilities are equal). If a bank has assets worth 100 tonnes and liabilites (all deposits) of 90 tonnes, those liabilities are likely to be good even if the bank makes some losses and even if the reserves are fractional. It does not matter if the bank's assets are reserves, bonds or loans, provided the losses on liquidating bonds and loans does not cost the bank more than its equity. All major central banks have assets greater than their liabilities (typically by 10-20%), including the Fed. The Fed *could* sell its foreign exchange reserves for gold bullion. Suppose that gave it a balance sheet as follows: Assets Gold and gold receivebles 12 500 tonnes USD Bonds $660 000m Liabilities $700 000m If the dollar were to be defined in terms of gold, ar are P ($/tonne), the bank's equity would be $660 000m +P*12 000tonnes - $700 000m=P*12 500 tonnes - $40 000m. This implies that the bank would have positive equity provided the price of gold greater than $3.2m/tonne. At a price of $10m/tonne the bank's equity is 23% of its debt. So if the bank pegged it currency unit at $10m/tonne, it would be able to redeem its entire outstanding debts by selling bonds to replenish its reserves as needed. Only if its bonds fell very sharply in value (i.e. yield rate soared) would the bank's equity be endangered. If the pegged currency offered a yield premium over gold it would attract gold deposit. This arbitrage enables the peg to be maintained and ensures that the interest rate on USD and gold would be the same. Only if the peg was not credible (e.g. not contractually established or not enforcable) could an interest rate premium be maintained. There is simply no basis for valuation of a currency or setting of a peg rate based on a single form of asset. The rate to establish a peg should be based on the value of the bank's assets and liabilities, and the asset mix should be adjusted to onclude an appropriate mix of bullion, bank currency bonds, and gold denominated bonds. David Hillary --- 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.
[e-gold-list] Re: Return to gold standard
GoldMoney and e-gold maintain this ratio at exactly 1 digital gram / 1 physical gram. The old US gold standard maintained this ratio at exactly 1 dollar / 23.22 physical grains. A gold standard, and fractional reserve banking are two different things. The US has always had fractional reserve banking. I can't imagine that any future gold standard would restrict banks from loaning out money. If banks loan money, there's going to be fractional reserve banking, because the people who borrow the money will put it in a bank and increase the reserves in the second bank, though the money also exists in the accounts in the first bank. Craig --- 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.
[e-gold-list] Re: Return to gold standard
At 07:12 PM 1/8/2003 +1100, David Hillary wrote: The approach of comparing gold reserves and money is so totally wrong I can't understand why it would afflict so many people on this list. I was wondering when somebody was going to say something like this. The value money held at a bank must be the lesser of its redemption value and the value of the bank's total assets to total liabilities (assuming all liabilities are equal). ... ... Ho boy here we go. :-) David, I'll get back to you on your math and concepts, but let me ask you this. I thought that in a strict gold standard you had to maintain a constant ratio between the number of monetary units in circulation and the amount of gold in reserve (i.e., deposited by people who accept your units in return). GoldMoney and e-gold maintain this ratio at exactly 1 digital gram / 1 physical gram. The old US gold standard maintained this ratio at exactly 1 dollar / 23.22 physical grains. Now you seem to be saying that these kinds of ratios are too simplistic. In particular, the reserve requirements are too strict. You are saying that a bank can just borrow the gold when it needs it by just issuing bonds. Ah yes, good old debt! Let's just go ahead right now and give GoldMoney and E-gold permission to do that too. Why should they have strict reserve requirements? When they get more successful and can float bonds, we'll let them spend some of the physical gold for their own business needs and then if there's a massive redemption they can just borrow the gold back. Problem is, if there's a massive redemption, who's going to buy the bonds? I say that any issuer of digital gold currency should be prepared for a full-scale run on the bank, with 100% redemption of every gold bar in reserve. If that happens, they should graciously and politely fork over all the gold, and then graciously and politely go out of business if that's necessary. Please remember that in a gold standard, the gold in reserve does not belong to the bank. It belongs to those who deposited it there in return for currency units. The bank is not free to use that gold for any purpose other than redemption of currency units. I know, DGCs are not banks, but the principle is the same. -- Patrick http://fexl.com --- 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.
[e-gold-list] Re: Is technology available?
George and fellows shalom, First I'll grab this opportunity to wish you all a Happy New Year (A Gold one). With all the hacking we have seen, is it possible to safely apply today's technology to a true global currency?What security issues need to be overcome? What is required to maintain security and is it available today? You need to look at two variations of systems: The account based and the code based (bearer). On both systems you need to secure the Database (clearing server) and all that surrounds it, you need to secure the Internet connection and then you need to secure the user computer. In the bearer world the deal is done between two (users) computers with the use of a third party database (according to the Internet Dollar system). (The true bearer system should avoid the usage of a trusted third party, but I haven't found a solution to security problems aroused from such a system). I think that you will not be able to avoid attacks on the database, avoid attacks on the connection and avoid attacks on the user computer(s). But, as we see (and act daily) - systems like e-gold and others provide a reasonable security - which is good enough to work with. (Sometimes I find it dificult to read the touring number). Schenkler - CEO Use Internet Dollar electronic money for anonymity, finalization of deal and fee free funds movements from peer to peer - http://InternetDollar.com --- 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.
[e-gold-list] Re: Return to gold standard
At 07:11 AM 1/8/2003 -0600, SnowDog wrote: A gold standard, and fractional reserve banking are two different things. The US has always had fractional reserve banking. I can't imagine that any future gold standard would restrict banks from loaning out money. If banks loan money, there's going to be fractional reserve banking, because the people who borrow the money will put it in a bank and increase the reserves in the second bank, though the money also exists in the accounts in the first bank. Fractional reserve lending of e-gold grams themselves is not possible. Let's say I want to start a company that lends out actual e-gold grams on a fractional reserve basis. I take in e-gold deposits, and I then I lend out ten times as much e-gold as I have on deposit. I can't really do this, can I? That's because I cannot create e-gold grams out of thin air the way lending banks can create dollars out of thin air. Unless E-gold gives me the ability to create e-gold grams electronically without depositing more gold, it is impossible for me to lend out any more e-gold grams than I actually have on deposit. Sure, I could lend out some of my own personal e-gold grams, but then that would be yet another deposit. Now consider the E-gold Trust themselves. They are not allowed to create more digital grams than they have in reserve. They are not allowed to lend out their gold bars. So clearly they cannot be a fractional reserve lending company either. That is why I conclude that it is not possible to lend e-gold grams themselves on a fractional reserve basis. The only way to approximate it would be to create derivative units based on e-gold grams and lend those derivative units. But then you wouldn't be lending the e-gold grams. When you made the loan, you wouldn't be spending e-gold grams to an e-gold account, you'd be spending derivative units to a derivative account. In the case of dollars, the Fed has merely declared that the derivative units are counted as actual dollars themselves. They have set up an equivalence that is not possible to set up within the e-gold system. Fractional reserve lending of e-gold grams themselves is not possible. -- Patrick http://fexl.com --- 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.
[e-gold-list] Gold / Oil
With the price of gold at $353.80 per troy ounce and the price of crude oil at $30.44 per barrel, we have a gold / oil ratio of about 11.6 right now. The rule of thumb I've heard is that when this ratio is lower than 12, generally speaking gold is a bargain. It seems like every time over the last several months I have tracked this ratio it has been fairly close to 11.5. By the way, this figure of 12 barrels per troy ounce maps neatly into James Turk's observation that the price of a barrel of oil tends to stay around 2.5 grams, even going back to the 1950's. -- Patrick http://fexl.com --- 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.
[e-gold-list] Re: Return to gold standard
Let's say I want to start a company that lends out actual e-gold grams on a fractional reserve basis. I take in e-gold deposits, and I then I lend out ten times as much e-gold as I have on deposit. I can't really do this, can I? That's not fractional reserve banking, (nor any kind of banking that I've ever heard). In fractional reserve banking, you take in deposits, and then loan-out 90% of those deposits, (say). The borrowers deposit the money in a bank, (either same bank, or another bank), allowing THAT bank to loan-out 90% of the redeposited money, etcetera... Pretty soon, you have numerous multiples of actual deposited money, held in various accounts. Craig --- 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.
[e-gold-list] Re: Return to gold standard
SnowDog wrote That's not fractional reserve banking, (nor any kind of banking that I've ever heard). In fractional reserve banking, you take in deposits, and then loan-out 90% of those deposits, (say). The borrowers deposit the money in a bank, (either same bank, or another bank), allowing THAT bank to loan-out 90% of the redeposited money, etcetera... Pretty soon, you have numerous multiples of actual deposited money, held in various accounts. DOH! Yeah, I messed up big time. Strange, since I'm the same guy who posted a full description of this process with balance sheets and everything last June, showing how with an 8% reserve ratio yields a money multiplier of 12.5, turning a $1000 into $12,500 when it's lent out to infinity. So basically, you're right, and I knew better. But still, something seems fundamentally different when you apply the process to e-gold accounts, but I may be mistaken there too. I'll figure it out. -- Patrick http://fexl.com --- 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.
[e-gold-list] I saw Gold Dinar and e-dinar mentioned in
this article online http://www.islam-online.net/english/news/2003-01/08/article08.shtml which might be of interest here. They say they have 600,000 users at e-dinar.com. Wow! HR --- 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.
[e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in
At 03:17 PM 1/8/2003 -0500, [EMAIL PROTECTED] wrote: this article online http://www.islam-online.net/english/news/2003-01/08/article08.shtml which might be of interest here. They say they have 600,000 users at e-dinar.com. Wow! HR Wow is right -- much better than the Euro idea. Interesting that they have 600,000 accounts and that's about how many e-gold has too. How the heck could they grow that fast? Maybe now with the e-dinar the Islamic countries can start creating and innovating again like the good old days and stop spending their energy fuming at the U.S., justified or not. Much better to ignore the U.S. than to attack it head on. Much better for all of us, including us innocent civilians living here in the U.S. -- Patrick http://fexl.com --- 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.
[e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in
At 03:36 PM 1/8/2003 -0500, you wrote: http://www.islam-online.net/english/news/2003-01/08/article08.shtml Wow is right -- much better than the Euro idea. Interesting that they have 600,000 accounts and that's about how many e-gold has too. How the heck could they grow that fast? I'm actually surprised that they only have 600,000. They've been around for 2+ years, and they are offering a choice to the Muslim community. According to the Holy Qur'an Muslims cannot accept or charge interest or deal with anybody that does. Unless there is no choice. As it was explained to me, if a Muslim was on an island and all that was there were pigs, they would be allowed to eat pork. Same holds true with credit. So, with that knowledge, and the fact that E-Dinar is interest free and backed by gold, they should have a large chunk of the 1.3 billion Muslims worldwide. If I were their CMO, I would open and fund an account for the 300 Royal families along with a simple note Now you have a choice. Their conscious has to then be their guide. What I find more interesting about that article is the fact that Malaysia will use the Gold Dinar. Yes, Malaysia has the largest Muslim population in the world. But that is a very bold step. And, could be a good move for E-Dinar. George ___ Dr. George Matyjewicz, Chief Global Strategist GAP Enterprises, Ltd. http://www.gapent.com/ Moderator of E-Tailer's Digest http://www.etailersdigest.com/ Automated Press Releases http://www.automatedpr.com/ Board Member AIB #34 http://www.aib-world.org/ --- 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.
[e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in
I think the account numbers are the same as e-gold, in that the 2 dbases seem integrated with each other. I just opened an e-dinar account, 709426, from the edinar website, now if you try and make a spend to that account from egold, you will see it is there as well (feel free to spend if you wish.. LOL) You can actually even LOGIN from egold to the same account. The same does not seem to hold true for accounts created on e-godl website, as they do not seem to be accessible from the edinar website marco www.paybygold.com - Original Message - From: George Matyjewicz [EMAIL PROTECTED] To: e-gold Discussion [EMAIL PROTECTED] Sent: Thursday, January 09, 2003 12:02 AM Subject: [e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in At 03:36 PM 1/8/2003 -0500, you wrote: http://www.islam-online.net/english/news/2003-01/08/article08.shtml Wow is right -- much better than the Euro idea. Interesting that they have 600,000 accounts and that's about how many e-gold has too. How the heck could they grow that fast? I'm actually surprised that they only have 600,000. --- 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.
[e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in
At 12:26 AM 1/9/2003 +0100, marco wrote: I think the account numbers are the same as e-gold, in that the 2 dbases seem integrated with each other. I just opened an e-dinar account, 709426, from the edinar website, now if you try and make a spend to that account from egold, you will see it is there as well (feel free to spend if you wish.. LOL) Also, the e-dinar account agreement is essentially a copy of e-gold's. It contains both the phrases e-dinar and e-gold thoroughout. If you go to the history page you see this little blurb too: 1999 First business contacts with e-gold Feb 2000 1st work session with e-gold in Florida May 2000 2nd work session with e-gold in London Evidently the e-dinar site is a new interface built on top of the existing e-gold database. Very wise, of course, to use such a nice already existing wheel. The e-kiosk idea for on the spot exchanges between E-dinar and dinar (physical gold coins) is pretty neat too. They have an interesting profit model for independent e-kiosk operators. Scroll way down in: http://www.e-dinar.com/en/main_parts/8/e-kiosk.pdf -- Patrick http://fexl.com --- 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.
[e-gold-list] THE FUN STARTS TOMORROW!
Greetings, Just a quick shout out to the e-gold list, get your US and World Gold Coin wants in because: THE FUN STARTS TOMORROW! Thats the Florida United Numismatist Convention January 12-13th in Orlando. Featuring Multiple major auctions including The Warner Collection of Ancient Coins. Be there or be At the New York International Numismatic Convention (NYINC) the following week 16th-19th At the Waldorf Astoria Hotel. Featuring Multiple major auctions including the Finest and Most Complete Canadian Coin Collection Ever Assembled The Sid and Alicia Belzberg Collection Auction. Kind Regards Mark S. Ohberg K.I.A.C. Global Numismatics New York http://two-cents-worth.com/?107245EG --- 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.
[e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in
First time, I see this misleading stuff in quasi-print. Just to remind everyhone gold dinar and e-dinar are different things and they are NOT identical. Also, quite frankly, I doubt that there are 600,000 users of a system that has no entries on the Business List of their own site. Honestly, if they had 600,000 users, local Malaysian press would be full of it and the owners/operators would have by now at least be graced with a knighthood. Finally, they are registered on LABUAN, a Malaysian offshore location. I can't understand how the Islamic e-zine could get that so wrong... Labuan has quite a good reputation as an alternative to other offshore locations. To sum up, I believe that e-dinar.com are honest operators, but I disbelieve 95% of the hype and third party info releases. Cheers, Robert S.Z. --- 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.
[e-gold-list] Re: I saw Gold Dinar and e-dinar mentioned in
Actually INDONESIA has the largest Muslim population in the world. Malaysia is more known for it's moderate Islamic policies and for the highest buildings in the world. Actually only about 60% of the Malaysian population are Muslim. That makes a bit over 10 million people, less than many other Islamic countries. --- 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.
[e-gold-list] Re: Ez-BUCKS.co.uk
At 10:43 AM -0800 1/6/03, James A. Donald wrote: -- On 6 Jan 2003 at 10:59, Robert S.Z. wrote: Hello everyone, There are rumours that Ez-BUCKS.co.uk made a run with their client's deposits Ez-BUCKS offers 200% interest for 30 days deposit, which works out as 409600% a year. ... I really wish that doing-the-math actually helped impart a clue, but hope apparently isn't the only thing that springs eternal... http://www.mark-knutson.com/ (Boy, do fools hate this URL!) I think Charles Ponzi's low rate of return when compared to these scams is symptomatic of widespread economic illiteracy, and considering the state of education I'm not sure what can be done about it as a policy matter (but I doubt many home- schoolers end up getting taken!). Evolution in action! :) JMR --- 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.
[e-gold-list] Re: Return to gold standard
At 12:52 PM -0500 1/7/03, George Matyjewicz wrote: ... Interesting dialogue on this topic. I agree that the gold standard would never happen. When I originally posted the question, I didn't mean a gold standard in the US. Rather a global gold standard. Which makes it more impossible. !???!? Uh...The impossible started happening in 1996, and once the smell of black ink hit the water a number of OTHER impossible- companies quickly offered a similar thing. No, the global gold standard isn't (and probably won't-ever-be) UN-enforced, but the almost-universal desire for the yellow metal means that it _need not_ be enforced globally to exist grow, as it has. I'm constantly amazed at how people LOVE to touch gold coins (I carry at least one around constantly). The global gold standard is e-gold, George, and if you call it 'impossible' in your book people like me will make fun of you, which you'll probably find annoying, so please don't! Anyplace with internet connectivity -- which these days is pretty-much everywhere -- has people who can and should learn about Better Money(tm)! The kind of gold standard that's no longer possible is the government-induced variety, but history shows that NO government EVER got that right in the past, so it's highly unlikely that anyone will believe them if they say they can get it right in the future. I sure won't, even if it's an entity I trust more than the United Nations (ie, just about any other entity)! Governments mess-up the currencies they control, invariably (hmm. Ray's law?). Businesses, unlike governments, can be held to contractual obligations without nasty issues like war, welfare systems, or sovereign immunity getting in the way of the courts doing their job and enforcing them. Ultimately, any real currency is simply a contract. As Paul Volcker, Former Chairman Federal Reserve stated A global economy requires a global currency. So, if it's not gold, what will it be? Is a global currency even possible? Is there too much government intervention? One needn't ask that question around here to know the answer you'll likely get! JMR --- 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.
[e-gold-list] FMS Page Update for FMS-Exchange Rates
From: Paul LeBreton Password Sent: Wednesday, January 08, 2003 2:02 PM Subject: FMS Page Update for FMS-Exchange Rates The Treasury Reporting Rates of Exchange as of December 31, 2002 are now available on the FMS web site at: http://fms.treas.gov/intn.html FMS Webmaster Send questions and comments to [EMAIL PROTECTED] --- 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.
[e-gold-list] Re: Return to gold standard
Hi all, Regarding the backing of different sorts of money. At the bottom of the monetary tree is actual gold, i.e. wholesale and retail bullion, for which all money under a gold standard can be ultimately redeemed notwithstanding any default in the process. This physical gold forms a reserve asset for bank such as settlement banks, reserve banks and redemption banks. They hold a significant proportion of their assets in physical gold, and the balance in (highly liquid short term high credit rated) bonds. (e.g. 20% bullion, 80% bonds). Retail and commercial banks have accounts with reserve banks, settlement banks, redemption banks and correspondent banks, and provide retail money, payment and lending services. These banks have mostly loans on their balance sheets and the balance is bonds and accounts with reserve banks, settlement banks, redemption banks and correspondent banks (e.g. 70% loans, 20% bonds 10% balances with other banks). E-gold and gold pools offer a substitute for physical gold, not for financial gold. They represent secured interests in a pool of bullion and can be transferred. Legally this could be structured as a secured gold liability on the issuer, or as an ownership share. E-gold is the former, Goldmoney is the latter. This is why E-gold Ltd. has a balance sheet and assets in excess of its liabilities -- your e-gold is a liability on e-gold Ltd., secured against bullion held in trust. If the quantity of gold is 1 000 kg and you have 10% of the total e-gold in circulation, that does *not* give you a right to 100 kg. If the nominal balance is 98 kg, that that is the extent of your right. With Goldmoney, there are no liabilities, only interests accounted for with accounts and convertable from the assets held. This is why E-gold does not match assets and liabilites exactly while Goldmoney always matches circulation with reserve. E-gold and goldmoney can act as a substitute for physical gold for redemptions and can form the basis for true fractional reserve banking, as now defunct metalsavings showed. Metalsavings had its own account system listing your claim against metalsavings, metal savings made loans to debtors at interest and reserves of e-gold. In the same way digigold and standard reserve/transactions had their own accounts and payments systems and reserves and other assets. In relation to Patrick's particular statements and questions: 1. Reserve requirements are not 'too strict.' Minimum reserve ratios, as a government imposition are simply unnecessary and harmful to market risk and liquidity management. Contractually set reserve ratios may be used as an indicator of risk management and liquidity management, and in the case of 100% reserve ratios, as an indicator that no financial risk is present and they only offer a payments and redemption/bailment service. 2. Banks do not issue bonds to get liquidity when they need it, they issue bonds to get capital (a bond issuance takes far too long to use it to get liquidity) . Banks sell bonds they hold as investments for liquidity. A bank can therefore issue bonds and hold bonds of other banks, to have the effect of sharing risks between the banks and for maintaining a highly liquid low risk productive investment to make up part of their assets and part of their liaiblities. Banks also issue bonds get capital for terms that match their needs, reducing the risk of losses due to unexpected withdrawals of funds. 3. If e-gold and like entities were to become fractional reserve, it is likely that their user agreements would prohibit business lending, including business lending to themselves. Business lending is high risk and should be left to either a) banks with significant equity and scale to manage large defaults or b) lenders who do not accept deposits and finance their capital needs with bonds. Deposit taking entities can invest in ultrasafe highly liquid bond markets and bullion banks if they want interest without significant default risk. This means that a small financial services provider can offer low risk interest bearing accounts. 4. Under a gold standard, bank reserves are the property of banks. This applies to all bank assets regardless of the monetary standard. Banks issue liabilities (deposits) and have assets to pay them (reserve, bonds, loans). It is only in the case of pooled interests in physical gold that the gold can be said to be owned by the account holders. For this reason the bullion backing e-gold is owned by trustees, not e-gold users. E-gold users are trust beneficiaries, and own only a liability issued by a nevis corp. 5. There are two answers to the issue of large unexpected redemptions. If the large unexpected redemptions are particular to one bank, the bank's best defence is *liquidity.* It sells its bonds and other assets to replenish gold reserves and if the assets are sufficiently liquid, the losses on liquidation will be less than the equity of the bank and all withdrawals can be met. If the large
[e-gold-list] pluralitylanguage.com
Guys, This site sells Pimsleur's language courses... (wonderful courses... I'm learning Texan French!!!) I'm fixing to get him to sign up for an e-gold account! :) www.pluralitylanguage.com Can y'all email them, and request an e-gold payment option? Graham Kelly CEO Happy New Year, from the Cust Service Dept! GoldNow Corporation http://www.GoldNow.St Primary Customer Service +61 3 9415-7750 US Voicemail +1(817)238-9955 US FreeFax +1(800)786-3012 UK Phone +44(0)7092337612 BrightPay.com is THE PayPal alternative, with NON-revocable transactions! Sign up today! --- 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.
[e-gold-list] Re: Malaysian e-gold walk-in funding needed
Yes, we can do that. Our exchange fees for this type of transaction are: 2.5% or $5.00 minimum USD1.00 = MYR 3.82 [if the client pays in Malaysia] Contact: [EMAIL PROTECTED] --- 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.
[e-gold-list] Gold Today
Gold Today is now open for business Please go to http://www.gold-today.com to place your order. We service the Australian Community only. Kind regards, [EMAIL PROTECTED] http://www.gold-today.com http://www.currencyregistry.com 'Do not go where the path may lead, go instead where there is no path and leave a trail.' Ralph Waldo Emerson --- 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.
[e-gold-list] Re: THE FUN STARTS TOMORROW!
At 8:56 PM -0500 1/8/03, Mark S. Ohberg wrote: Greetings, Just a quick shout out to the e-gold list, get your US and World Gold Coin wants in because: THE FUN STARTS TOMORROW! Hey Mark, thanks for reminding us, but you got the dates wrong! http://www.funtopics.com/ (click coin show) says it's January 9-12, 2003! FUN is a great coin show (but the parking's truly awful!). Thats the Florida United Numismatist Convention January 12-13th in Orlando. Featuring Multiple major auctions including The Warner Collection of Ancient Coins. And, on Saturday the 11th, featuring Jim Ray J.S.G. Boggs and a chance to see the only purple $5000 Boggs bill! I will be walking around most of Saturday, asking coin dealers why they're not accepting Better Money yet, when I'm not at the Boggs booth. Afterwards, we'll find good food beer! :) JMR --- 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.
