Craig,
(snip)
The demise of Standard Transactions is being played out, and
no one will escape justice here. I don't KNOW this, but I would expect, that
when it's all over, people with balances in Standard Transactions will see a
partial return of their balance.
(end snip)
GREAT point, Craig! Now, lets (hypothetically, of course) say that all
of SRHL and ST's assets are liquidated. Lets say that even their stock
ownership in e-gold is liquidated. My question is: who would get first
crack at those monies/ assets? Account holders? Shareholders? Investors?
Doug Jackson? Barry Downey? Elwyn Jenkins? Other SR personnel?
Specifically: Should investors or shareholders be compensated BEFORE the
actual account holders see a TOTAL return of their ENTIRE balance? After
all, SR spend their customers holdings, not funds available for expenses.
Remember: an "investment" has risk. Holding digital currency (including
SR-AUG or SR-USD) is NOT *supposed* to have risk according to their
ADVERTISED User Agreement and backing structure (SR gold is 100% backed by
e-gold which is 100% real gold...sound familiar??) What would be a crime, in
my opinion, would be to compensate shareholders WHO UNDERSTOOD THE RISK OF
INVESTING IN SR *before* account holders who OWNED the value in their
accounts and were led to believe those holdings were properly backed and
even insured. That would be (literally) robbing Peter (account holders) to
pay Paul (investors or shareholders) since the value that is left is owned
by the account holders (there was no profit in SR, only account holder
assets) and not the investors (whose funds were blown on the company
overhead.)
Craig, e-gold, ANYONE....can you explain that to me? Why would SR
investors get monies (the only money that should be distributed would be
funds left over AFTER liabilities: i.e. account holders value is paid off.
Correct or incorrect? And, since it is all smoke and mirrors at this
point..(Yes, Julian saw "gold" in *December* of last year when SR was still
around as well! Anyone seen it since?)
What is to prevent e-gold / G&SR from pulling the SAME exit strategy
that SR did if things get rough? The User agreement? No...the Trust in
Nevis? No...the safeguards that ensure client funds would not be used,
right? Hmmmm....would that be "Standard" business practices (yes, pun
intended!) ....
Food for thought....
The Whiner
(aka Eric ) *grin*
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