From: <[EMAIL PROTECTED]>
> >One might consider such a practice immoral simply because it > >introduces the possibility of error and the appearance of impropriety. > > PC, the idea that you can slush funds around in non-segregated > accounts. ... A corporation can't get away with it. JP: All of the liabilities of 1mdc to its account holders reside in one e-gold account #808081. Your liability to "Joe Schmoe" is mixed right in there with your liability to "Patrick Chkoreff". This is exactly analogous to the situation with the E-Gold Special Purpose Trust. The Trust has a liability to each e-gold account holder, and they happen to have other liabilities as well, all lumped together into one trust account. I do not understand why you think the practices of the E-Gold Special Purpose Trust are scandalous. They are not scandalous. They are ordinary. You have suggested a possible balance sheet structure for the E-Gold Special Purpose Trust: Assets: 1,952,954.93 Liability to e-gold account holders: 1,933,849.01 Liability to other unnamed parties: 19,105.92 Equity: 0.00 There is literally NOTHING wrong, immoral, non-standard, or underhanded about this. Every company has a pile of assets, a pile of liabilities, and possibly a pile of equity, and E-Gold Special Purpose Trust is no different. I simply do not see what is wrong with having gold in the Trust that does not belong to e-gold account holders. Please illuminate me on this point. -- Patrick --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
