The unsigned article "Dreams of a cashless society" [The Economist, p.65, May 5th, print version] dismisses e-gold as a "virtual" currency "used as pay that avoids the tax man". I would have expected a modicum of critical discernment from the Economist. Electronic payment systems and especially privately issued currencies will succeed or fail based on the soundness/coherence of their economic logic and the strength of their business model. Lumping e-gold in with beenz, flooz and PayPal is an indication that the writer has not examined issues such as the loading function or the value proposition embodied in the circulating liabilities of the various issuers. The point of e-gold is immediate settlement with extremely low direct costs, non-repudiation, an efficient automation interface, bi-directionality [fostering an active, competitive exchange market], combined with zero credit or liquidity risk. When you are ready to undertake a serious analysis please contact me. Douglas Jackson MD Founder and Chairman, e-gold Ltd. www.e-gold.com CEO, OmniPay www.omnipay.net --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
