As a follow up to his OSGold post, Michael Moore wrote:
>Glad to know this is bona fide. We can only benefit by competition as
was
>just recently pointed out.
>
>I have recieved a email from David (with whom I am aquainted) and am
>satisfied this is a genuine site.
>
>I can see there will be bugs and problems to attend to but of course
no
>site ever started off perfect (least of all e-gold), and I am
assured these
>bugs will be attended too.
>
>I have indicated to David that on the basis of the info below and in
his
>email, I would be pleased to be considered as a Market Maker for
osgold.
Mike,
Methinks you are too quick to accept a few placating words...
Take a close look at this! There are FAR too many HUGE holes in this
thing to conclude that this is above board. At the very least, we need
to be concerned that this person has absolutely has NO IDEA what he is
doing.
He wants us to send our MONEY to him but he gives ABSOLUTELY NO
representation about how he will deal with our money. There are NO
terms and conditions, agreements or any other guarantees or other
legal requirements on the site.
When did any financial institution ever get away with opening up a
service to the public while it was still full of blatant bugs?
It is EXTREMELY suspicious (and against the regulations) to put
misleading or false contact information for the registrant of a domain
name. If this person is honest why is he not giving valid contact
details on the site and on the domain registration? Something to hide?
Where is the gold to be kept? Who guarantees the gold is there? In
what form is the gold? And 100 more very pertinent questions leap to
mind...
Look at these Classic snippets from the web site:
"An OSGold Account is an online monetary system which allows you to
convert money to gold, and then retain it online...."
hmmmmm... and then...
"Store your GOLD in an Offshore Bank, where a transfer is as easy as
clicking a button, and you immediately begin to earn a very nice
interest on that gold. Your gold is immediately converted to a cash
value to protect you from the fluctuation in gold prices. Yet, you
can convert back to OSGold at any time FOR FREE...."
Ah... so now the gold I am retaining on line is actually CASH to
protect against gold price changes... so what is it then, online gold
or online cash?! Is there REALLY any gold there at all? The gold is in
an offshore Bank?!? You earn "a(sic) very nice INTEREST" on your
gold??! This is at least educational :)
"Investigate new opportunities, where your principal is guaranteed,
where due diligence has been accomplished...where scams don't
exist..."
Wow, now we're in heaven!
And just as an interesting aside (amidst the thousands of other
questions going through my head) the security is done by HEN Inc.???
It may be going too far to call this a scam, but lets face it, there
is no way this set up elicits TRUST!
Maybe I am just suspicious?
Best regards,
Sidd.
Worth 2 cents? http://2cw.org/sidd
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