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
on
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
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"
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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