[e-gold-list] Re: e-gold / SR ??
On 31 Dec 2000, at 8:41, Jim Stewart wrote: I'm OK with "DEBT instruments" denominated in Gold as long as its clear they are NOT money. A debt instrument can NEVER be money, it is merely a contract (promise) to pay. Claude wrote: I am not sure you realize what you are saying. Gold denominated debt instruments can also include derivatives like options and future contracts. Some of these contracts can exposed the debtor to unlimited risks. Precisely Claude, it makes absolutely NO difference what a "DEBT instrument" is denominated in; whether you owe me 1 USD or 1 grams of gold or 1 cornflakes, you still owe me, and the ONLY value I have is your ABILITY to pay. If for any reason you lose that ability to pay, I lose. In other words, having a portion of a currency backed by debt instruments is in effect having that portion backed by NOTHING, no matter what the denomination. That is how one ends up with a "fractional reserve" situation. IOW only a fraction of the assets declared by the financial institution (currency) actually exist, the rest is just promises. IMNSHO a very dangerous and unhappy situation! Regards, Sidd. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
I'm OK with "DEBT instruments" denominated in Gold as long as its clear they are NOT money. IMO, it was the fraudulent issue of more gold certificates than gold, which started the corruption of modern currencies. Instead of convicting the fraudsters, governments licensed them, so banks have been pretending to lend from reserves, when they are actually creating 'fiduciary media' for centuries, and sharing some of them with governments. 'Fractional reserves' is the fancy name used to disguise this scam. If SR does this without a licence, we can expect governments to get indignant and worse! So what is it to be for SR? Will it maintain or confuse the distinction between certificates and 'fiduciary media'? Jim -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Elwyn Jenkins Sent: Friday, December 29, 2000 4:09 PM To: e-gold Discussion Subject: [e-gold-list] Re: e-gold / SR ?? Sidd So the question is: Is there a possibility that in the future Standard Reserve currency will at least in part be backed by DEBT instruments or investments other than e-gold? YES. But always instruments denominated in Gold. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Sidd wrote: EJ has stated in the past: "there is not always the necessity to back Standard Gold 100% with E-Gold" and "there is a market where those individuals and businesses may need capital to grow. Standard Reserve will be in that market providing capital from its asset backing" and "This is the bulk of money that is in a liquid form that can be used to loan people and businesses so that earnings can be made and dividends paid to holders of the currency." So the question is: Is there a possibility that in the future Standard Reserve currency will at least in part be backed by DEBT instruments or investments other than e-gold? Hi Guys, May I interject something here? Credit creates debt, obligation and of course control. The use of credit is a "system" like borrowing from T. E. Ford's "Company Store". Another perspective on credit/debt consequences can be seen here: http://www.murabitun.org/documents/dinar/dinar.html I found the information (stripped of religious flavorings) to be quite enlightening in view of the predatory credit system extant throughout America and elsewhere. It was credit that striped America of the gold and silver common folks carried around in their pockets as a standard means of doing business. When we freely circulated gold and silver among ourselves we were a truly weathy nation in more ways than one. -- Regards, Dale Pond Delta Spectrum Research http://www.SVPvril.com Sympathetic Vibratory Physics Sacred Science - Sacred Life SVP Discussion Forum: http://www.egroups.com/list/svpvril/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Hi, Major Bosco brought up a very interesting question here and I would be very pleased if someone out there could enlighten me on this point.. Major Bosco... Uhh,, this sounds kind of like the e-metal version of the Banking fractional reserve deposit system? Does this mean that SR endorses forward selling and short selling of its asset (e-gold)? EJ in answer to Major Bosco currency. On the other hand, E-Gold may be more attractive to some, because of its 100% gold backing. It depends upon your perspective in the future which "gold" you want to hold So what is the answer here? Is the future of SR to be a "fractional reserve" system, backed at least in part by debt instruments? Is there anyone out there who can give an honest answer to this VERY important question? In another post, EJ stated: The difference lies in the fact that there is not always the necessity to back Standard Gold 100% with E-Gold -- it is possible that in the future Gold securities may form a certain percentage of that backing. So what EXACTLY is a "Gold Security" and added to that, what is the "Gold Certificate" that SR is offering. From the gold exchange web site http://www.e-gold-exchange.com/gift.asp we read: *** "The certificate entitles the recipient to ownership of the physical gold backing the certificate, which is stored safely in a vault by E-gold Limited Trust. Standard Reserve backs each digital gram of gold with e-gold, which is backed by actual metal in the vault." *** If this is true, then how does the statement earlier by EJ, "there is not always the necessity to back Standard Gold 100% with E-Gold" fit into the picture? Hope someone can help me out on this one. Best regards, Sidd. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Sidd, In an ongoing discussion on this site you posed the following: If this is true, then how does the statement earlier by EJ, "there is not always the necessity to back Standard Gold 100% with E-Gold" fit into the picture? Hope someone can help me out on this one. Here is an answer but the more definitive answer will take more than the room we have here. In fact, I am writing a book which in the near future will casr much more light on the subject, and on the Gold Economy site I am planning and already writing some new articles to provide more answers in this arena. But a short answer to these questions is provided here. Currencies == The two currencies E-Gold and Standard Gold are both currencies that are based on "gold" in a "digital" form so that gold itself can be used as "cash". E-Gold and Standard Gold are not exactly the same thing. E-Gold is "digital gold" that is exactly as the E-Gold website states, "gold itself circulated electronically". Standard Gold on the other hand is not "gold itself circulated electronically". In fact it is "digital gold circulated electronically". This means that instead of holding actual gold as the backing for Standard Reserve holds "digital gold" as the backing for Standard Gold. This gives Standard Gold potential that is simply not available with E-Gold. The potential to use that digital gold backing to obtain growth of that asset and therefore to be able to pass that growth onto the people who hold that currency and to be able to sustain Standard Reserve into the future with profits. The Asset = So in having a more liquid asset being E-Gold for which there is a market, and there are people who earn their sole income in the form of E-Gold, and there are businesses that are now beginning to base their entire activies on gold, there is a market where those individuals and businesses may need capital to grow. Standard Reserve will be in that market providing capital from its asset backing. If you take a look at E-Gold's asset, it has been growing for the last four years and is a bulk of about $15m worth of gold or something of that size. Daily activities of the E-Gold currency do not call on that asset. Similarly, with Standard Gold's asset, it will grow, and over time it will have a bulk that is not called upon on a daily basis. This is the bulk of money that is in a liquid form that can be used to loan people and businesses so that earnings can be made and dividends paid to holders of the currency. The plan This cannot occur until we achieve two things: one, sufficient asset so as to have a meaningful amount to "invest" in some way, and two, a plan in place that ensures that the public's money is not at risk. We plan to introduce this in the following manner. We will not expose the entire currency to this risk -- and there is a risk here as in any loan activity. In time we will be offering a special account type that can be selected and only that gold backing those accounts will be used in this "factional banking" style. This is the opportunity fro Standard Reserve and of which you will be hearing more about as Standard Reserve grows. Further detail will be in a number of articles on The Gold Economy in the next few weeks. Look for them. The first of these will be appearing later today in about two hours from now. Dr Elwyn Jenkins The Gold Economy www.goldeconomy.com ++ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Is it just me or does anyone else get more confused as SR tries to answer what I thought was a fairly simple question? The response given below to the question gets more complex and confusing each time Mr Jenkins tries to answer it. Why does it take a book to do this? Also the whole operation is based in the US and according to a previous post, there are a number of people with very close connections to the government involved with SR. You are asked to give quite a bit of personal information in order to open an acct including a SS# all this makes me very suspicious and starts my mind asking lots of questions. B Pate --Original Message-- From: "Elwyn Jenkins" [EMAIL PROTECTED] To: e-gold Discussion [EMAIL PROTECTED] Sent: December 28, 2000 1:05:22 PM GMT Subject: [e-gold-list] Re: e-gold / SR ?? Sidd, In an ongoing discussion on this site you posed the following: If this is true, then how does the statement earlier by EJ, "there is not always the necessity to back Standard Gold 100% with E-Gold" fit into the picture? Hope someone can help me out on this one. Here is an answer but the more definitive answer will take more than the room we have here. In fact, I am writing a book which in the near future will casr much more light on the subject, and on the Gold Economy site I am planning and already writing some new articles to provide more answers in this arena. But a short answer to these questions is provided here. Currencies == The two currencies E-Gold and Standard Gold are both currencies that are based on "gold" in a "digital" form so that gold itself can be used as "cash". E-Gold and Standard Gold are not exactly the same thing. E-Gold is "digital gold" that is exactly as the E-Gold website states, "gold itself circulated electronically". Standard Gold on the other hand is not "gold itself circulated electronically". In fact it is "digital gold circulated electronically". This means that instead of holding actual gold as the backing for Standard Reserve holds "digital gold" as the backing for Standard Gold. This gives Standard Gold potential that is simply not available with E-Gold. The potential to use that digital gold backing to obtain growth of that asset and therefore to be able to pass that growth onto the people who hold that currency and to be able to sustain Standard Reserve into the future with profits. The Asset = So in having a more liquid asset being E-Gold for which there is a market, and there are people who earn their sole income in the form of E-Gold, and there are businesses that are now beginning to base their entire activies on gold, there is a market where those individuals and businesses may need capital to grow. Standard Reserve will be in that market providing capital from its asset backing. If you take a look at E-Gold's asset, it has been growing for the last four years and is a bulk of about $15m worth of gold or something of that size. Daily activities of the E-Gold currency do not call on that asset. Similarly, with Standard Gold's asset, it will grow, and over time it will have a bulk that is not called upon on a daily basis. This is the bulk of money that is in a liquid form that can be used to loan people and businesses so that earnings can be made and dividends paid to holders of the currency. The plan This cannot occur until we achieve two things: one, sufficient asset so as to have a meaningful amount to "invest" in some way, and two, a plan in place that ensures that the public's money is not at risk. We plan to introduce this in the following manner. We will not expose the entire currency to this risk -- and there is a risk here as in any loan activity. In time we will be offering a special account type that can be selected and only that gold backing those accounts will be used in this "factional banking" style. This is the opportunity fro Standard Reserve and of which you will be hearing more about as Standard Reserve grows. Further detail will be in a number of articles on The Gold Economy in the next few weeks. Look for them. The first of these will be appearing later today in about two hours from now. Dr Elwyn Jenkins The Gold Economy www.goldeconomy.com ++ --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Play for fun or for Real, Win Gold http://www.thegoldcasino.com/win.cgi?3202416 --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Is it just me or does anyone else get more confused as SR tries to answer what I thought was a fairly simple question? The response given below to the question gets more complex and confusing each time Mr Jenkins tries to answer it. Why does it take a book to do this? All he's saying is that SR plans to invest and/or loan out some of their underlying assets, from time to time, in the future, for a profit. If so, they will not be backed 100% by e-gold; rather their currency will be backed by e-gold AND other assets. Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
B Ray wrote: You are asked to give quite a bit of personal information in order to open an [SR] acct including a SS# all this makes me very suspicious and starts my mind asking lots of questions. The SS# requirement also stopped my application for their debit account. -- Regards, Dale Pond Delta Spectrum Research http://www.SVPvril.com Sympathetic Vibratory Physics Sacred Science - Sacred Life SVP Discussion Forum: http://www.egroups.com/list/svpvril/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
At 10:41 AM 12/28/2000 -0500, B Ray wrote: Is it just me or does anyone else get more confused as SR tries to answer what I thought was a fairly simple question? The response given below to the question gets more complex and confusing each time Mr Jenkins tries to answer it. Why does it take a book to do this? I think Craig Haynie answered the question very simply. BTW, Elwyn did say he was writing a book, no? ;-). Also the whole operation is based in the US and according to a previous post, there are a number of people with very close connections to the government involved with SR. You are asked to give quite a bit of personal information in order to open an acct including a SS# all this makes me very suspicious and starts my mind asking lots of questions. B Pate There are two requirements for opening accounts at Standard Reserve: 1. You pay your fees 2. You are who you say you are. We are not an anonymous payment service. We are seriously focused on introducing a large number of merchants and consumers into this new payment system. Hence we need information that can be used to verify each applicant. As far as "a number of people with very close connections to the government" please tell me who they are? As the CEO of SR, I think I should know who these government operatives are, eh? George __ George Matyjewicz, Chief Executive Officer Standard Reserve Corp. -- Atlanta, GA Acct# 120018 Tel: 770-300-3070 Ext 2818 World Wide Currency for the World Wide Web http://www.standardreserve.com mailto:[EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
At 10:41 AM 12/28/2000 -0500, B Ray wrote: Is it just me or does anyone else get more confused as SR tries to answer what I thought was a fairly simple question? The response given below to the question gets more complex and confusing each time Mr Jenkins tries to answer it. Why does it take a book to do this? I am sorry you are confused by the explanations. I forget that many people do not want to know the details. On the other hand, the simplicity to which we often try to reduce complex issues often makes things look like something that they are not. As one of the founders of Standard Reserve, there are directions I seek to take the company. Keep watching this space for simpler explanations as we go. Often creating the actual business is different to the theory. Let me take up the explanation of the theory in another location -- I will leave the description of the actual service as it is revealed in practical action. No a book is not necessary to explain this subject. It is a way to open the details to those who are interested some of whom may be reading this discussion group. For those who do not wish to see this, I will leave the explanations to that book. Elwyn Jenkins The Gold Economy Founder of Standard Reserve ++ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Hi All, Now I'm getting the picture; SR will indeed ultimately have at least part of their service as a fractional reserve system. I gather from EJ's message that as a customer one will be able to "choose" whether one has an account which is 100% backed by e-gold or not. Craig Haynie wrote All he's saying is that SR plans to invest and/or loan out some of their underlying assets, from time to time, in the future, for a profit. If so, they will not be backed 100% by e-gold; rather their currency will be backed by e-gold AND other assets. and George wrote: I think Craig Haynie answered the question very simply. But I have to wonder about this. It sounds very much like Craig's last sentence should have read ".rather their currency will be partly backed by e-gold (or other assets) and the balance will be backed by DEBT instruments." Note that DEBT instruments may be considered "assets in accountancy terms" but are by no means REAL physical assets (as is gold or property) and carry at least a certain amount of risk. Also, Craig's comment "for a profit" should probably have read "...HOPEFULLY for a profit". Even the action of INVESTING some of the underlying assets carries risk. Imagine if a portion of the underlying assets were invested in the NASDAQ earlier this year! Please realise I am not trying to suggest that SR's business plan (as I understand it) is BAD, but I just wish to know EXACTLY what it is so that I can use their (promised) excellent services in the correct context. So far SR (at least in part) looks very much to me like a banking institution, and the fact that it uses a PDC instead of fiat currency makes very little difference. In a bank, the underlying currency is of absolutely no consequence, the system is just "numbers in ledgers". A bank is a bank and as long as SR is used with that in mind, it may indeed turn out to be a very GOOD bank. Regards, Sidd. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
At the risk of appearing simplistic it looks like SR will be turning into a bank but with a gold standard rather than a paper currency backed system. I though were were going to get away from the banking system. Very soon perhaps we will hear the term fractional used and SR loaning out reserves on the basis of savings ie. loaning out 10 times the savings or loan recovered (yes you can't loan out gold you don't have i know - but the bank loan out money they don't have on the basis that the savings will never be pulled out). and yes my terminology is not very 'cultured' but I think you get the point. Seems me the profits from 'banking' can so enamour people as to be irrisistable, hence my previous argument that these businessses are not so altruistic as I first thought. Chucky that a = Original Message From "Craig Haynie" [EMAIL PROTECTED] = Is it just me or does anyone else get more confused as SR tries to answer what I thought was a fairly simple question? The response given below to the question gets more complex and confusing each time Mr Jenkins tries to answer it. Why does it take a book to do this? All he's saying is that SR plans to invest and/or loan out some of their underlying assets, from time to time, in the future, for a profit. If so, they will not be backed 100% by e-gold; rather their currency will be backed by e-gold AND other assets. Craig --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] - Powered by http://www.telstra.com --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Seems me the profits from 'banking' can so enamour people as to be irrisistable, hence my previous argument that these businessses are not so altruistic as I first thought. Chucky Whoever said that e-gold, SR, any of the market makers, etc... were altruistic? They are business entities running under a capitalistic system. Altruism is not what running a business about, unless you are a charity. Viking Coder --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
At 10:39 AM 12/29/2000 +1300, Sidd wrote: Please realise I am not trying to suggest that SR's business plan (as I understand it) is BAD, but I just wish to know EXACTLY what it is so that I can use their (promised) excellent services in the correct context. So far SR (at least in part) looks very much to me like a banking institution, and the fact that it uses a PDC instead of fiat currency makes very little difference. In a bank, the underlying currency is of absolutely no consequence, the system is just "numbers in ledgers". A bank is a bank and as long as SR is used with that in mind, it may indeed turn out to be a very GOOD bank. Our business plan does not call for any investing of funds at least not in the foreseeable future. However, we do not want to be prevented from investing assets at a later date, if it seems profitable and practical to do. We are not a bank. Our debit cards were clearly checked by banking authorities who agree they are stored value cards, and do not fall under banking regulations. Therefore we are not a bank. Our business plan calls for us to acquire many merchants who will accept Standard Currency, initially online, and later offline. With pin-based stored value cards that can be processed through POS devices, offline is not as difficult as it may appear. We have four type of agents: 1. Infrastructure Agent - who has links to the banking systems in a particular country or region. These agents must also have IT capabilities. 2. Exchange Agents - who serve a similar function as market makers with e-Gold - they exchange funds to Standard Currency. 3. Customer Acquisition Agents - who acquire customers for any of our products, who are then passed on to exchange agents for conversion of funds. 4. Merchant Acquisition Agents - who acquire merchants. Obviously there are commission or wholesale pricing structures associated with each of these agent types. Initially we will deal with consumers looking to transact business using gold-based transactions. Then we go on to folks who work in a country (i.e., U.S.) and have to send money back home (i.e., Mexico, China, India, etc). For them, our debit card process works very well. After that we go to a micro-payment process, i.e., payment for goods or services on a time-based or content-based basis. For example, an online advisor may charge you for advise on a time basis. Or a newspaper (i.e., NY Times, WSJ) may charge you for page views. Our major emphasis eventually will be the entire retail supply chain, i.e., payment processing from consumer, to retailer, to wholesaler, to importer, to manufacturer. And, yes our support is excellent. At least that's what our customers and agents are telling us. Comments regarding the speed of response, or the fact that they can actually speak to a live person on a telephone, or the knowledge of our support group. I think our VP/Controller says it all very clearly - "We Care!" I hope that answers your questions. And I truly appreciate your comments, as perceptions of what we are all about are critical for us to understand. As I always tell folks - "perceptions are often reality." If we can manage perceptions, we will be very successful. Let me know if there are any other questions. George __ George Matyjewicz, Chief Executive Officer Standard Reserve Corp. -- Atlanta, GA Acct# 120018 Tel: 770-300-3070 Ext 2818 World Wide Currency for the World Wide Web http://www.standardreserve.com mailto:[EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Sidd So the question is: Is there a possibility that in the future Standard Reserve currency will at least in part be backed by DEBT instruments or investments other than e-gold? YES. But always instruments denominated in Gold. The express purpose of establishing SR to have a liquid asset was to provide a means of future profitable operations. SR was created through a conversation between myself and Doug Jackson over several months. Both Doug and I see our current mode of operation as being very expensive and not highly profitable. SR was established to exploit the possibilities of a liquid gold asset being available for creating other gold denominated assets. Have we got it in our business plan for 2001? NO. When is it intended to be done? When it makes business sense to offer a product or range of services based on this activity. Elwyn Jenkins The Gold Economy ++ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
This is a very interesting question and one which many may not really undersand. Standard Reserve does not re-issue E-Gold. Rather, Standard Reserve holds E-Gold as the asset backing Standard Gold. In doing this, Standard Reserve has a far more liquid asset than E-Gold making it possible to handle that asset in a different manner than E-Gold. OK -- I agree, now I am confused. So,, SR uses e-gold as asset backing for their currency yet that is not the same as re-issuing e-gold? If SR gold has nothing behind it but e-gold, SR is simply e-gold with a different name, as without e-gold there can be no SRG. Also -- how can SRG be more liquid than e-gold, when e-gold is the backing for SRG? If e-gold suddenly loses liquidity, then SRG loses liquidity entirely. The unique-ness of Standard Gold is that its asset, in that it is "gold money", can be held as money in its E-Gold account, or a portion of it could be held as a security, and so on. This takes the world of "gold money" a step further towards providing a wide range of financial services to customers, including providing loans, paying interest where a person elects to hold their value in an account where the asset can be loaned etc. Uhh,, this sounds kind of like the e-metal version of the Banking fractional reserve deposit system? Does this mean that SR endorses forward selling and short selling of its asset (e-gold)? currency. On the other hand, E-Gold may be more attractive to some, because of its 100% gold backing. It depends upon your perspective in the future which "gold" you want to hold Hmm,, I defer to your wisdom as this statement clearly confuses me (again)-- are you trying to tell us that e-gold is 100% backed by gold and SRG is not? if so, please elaborate how that could be since the asset backing SRG is e-gold and e-gold is supposed to be 100% backed by metal? I am new to this e-metal business and researching the products before making my plunge. This is one issue that bothers me -- the statment that e-gold is 100% backed by gold? This seems improbable to me because; 1) The only assurance we have that there is real metal backing is the examiner page -- which is administered by e-gold personnel only (guess you just have to believe!) 2)I do not see where e-gold has ever submitted to an audit of the reserves? does this bother no-one else? 3)If e-gold were 100% backed by metal -- how could e-gold possibly have enough liquidity cash to handle the daily outexchanging and conversion of metal to fiat currency (without selling and buying metal daily -- and this obviously is not done since the numbers on the examiner page would flucuate in proportion). If the examiner were true to form -- e-gold would have to have a section listing the amount of cash held in reserve also - and they do not. 4) None of this would bother me so much if there was a contact page or number for e-gold's escrow agent, however I do not see anything but the name of a large Multinational Bank listed. Best Wishes, John Bosco USA - Retired. _ Get your FREE download of MSN Explorer at http://explorer.msn.com --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
Now you are being very confusing. SR does not have its own gold. SR holds its assets in e-gold, which costs 1% per year. Metal Savings pays interest. If you are not going to store your gold, then why are you not holding your assets in Metal Savings or something else that does not cost you anything? --- Elwyn Jenkins [EMAIL PROTECTED] wrote: SR does not have its own gold as you state in your article, it has e-gold which it buys at a steep discount (because the owner of e-gold also has a equity ownership position in SR) - and then re-issues the e-gold as SR gold. Therefore SR is no more then a clone of e-gold, sure, SR has more features and more options available than e-gold - but, in the long run, as long as SR is simply "Re-named" e-gold they shouldn't tell everyone that they are Completely Unique. This is a very interesting question and one which many may not really undersand. Standard Reserve does not re-issue E-Gold. Rather, Standard Reserve holds E-Gold as the asset backing Standard Gold. In doing this, Standard Reserve has a far more liquid asset than E-Gold making it possible to handle that asset in a different manner than E-Gold. = Dagny Taggart __ Do You Yahoo!? Yahoo! Shopping - Thousands of Stores. Millions of Products. http://shopping.yahoo.com/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
If you are not going to store your gold, then why are you not holding your assets in Metal Savings or something else that does not cost you anything? Good Point. the 1% storage fee starts to become a killer when you have a large amount of gold in your account. SR maintains a reserve in e-gold for liquidity but sooner or later will probably invest a portion of the gold into Metal Savings or a similar institution to offset their costs. It goes back to one of my previous postings concerning the profit model for a currency. Khurram _ Get email for your site --- http://www.everyone.net --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: e-gold / SR ??
SR does not have its own gold as you state in your article, it has e-gold which it buys at a steep discount (because the owner of e-gold also has a equity ownership position in SR) - and then re-issues the e-gold as SR gold. Therefore SR is no more then a clone of e-gold, sure, SR has more features and more options available than e-gold - but, in the long run, as long as SR is simply "Re-named" e-gold they shouldn't tell everyone that they are Completely Unique. This is a very interesting question and one which many may not really undersand. Standard Reserve does not re-issue E-Gold. Rather, Standard Reserve holds E-Gold as the asset backing Standard Gold. In doing this, Standard Reserve has a far more liquid asset than E-Gold making it possible to handle that asset in a different manner than E-Gold. The unique-ness of Standard Gold is that its asset, in that it is "gold money", can be held as money in its E-Gold account, or a portion of it could be held as a security, and so on. This takes the world of "gold money" a step further towards providing a wide range of financial services to customers, including providing loans, paying interest where a person elects to hold their value in an account where the asset can be loaned etc. Standard Gold is certainly related to E-Gold but it is not E-Gold under a different name. The discount at which Standard Reserve buys gold is not as deep as you may think. The future profits for Standard Reserve lie not in the purchase price when it must obtain E-Gold, but rather in the services it can provide once it has that E-Gold backing in place. Standa Reserve is positioning itself to provide a wider range of services than E-Gold can ever do simply because of the nature of Standard Gold as a currency. On the other hand, E-Gold may be more attractive to some, because of its 100% gold backing. It depends upon your perspective in the future which "gold" you want to hold - one that has 100% gold backing, or one that can give you a return on your gold holdings. The difference may not be as apparent between the two now, but it will be soon. Dr Elwyn Jenkins The Gold Economy www.goldeconomy.com ++ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
