Sidd,

Simple theory, much harder to implement. And *that*, my erstwhile friend
and colleague, is possibly the crux of all fraud. Hey, I'm teachable, as
I'm sure you are. We spend serious $$$ on sorting out the crooks (3%)
from the genuine (97%). Hmmm, I may even yet apply for a PI licence.

Again, proof of backing doesn't even begin to guarantee the ethics/morals
of the company admin you are dealing with. Heck, a number of the
ecurrency providers (that you and I deal with on an everyday basis), are
owned by persons I don't know their NAMES, let alone have DD on!

Incidently, I have completed 100's of hours of verifying folks, and
ecurrency providers. The one provider I can vouch for, as far as backing
is concerned, is INTGold. Again, I cannot vouch for INTGold admin
ethics/morals/honesty, except to say I haven't had a dishonest
transaction with them yet, after hundreds of thousands $$$ transactions.
As far as Pecunix backing is concerned, (and I believe you when you say
Pecunix is backed), I haven't had a need to do so, on a needs basis...

Graham Kelly CEO

On Wed, 19 Nov 2003 14:58:00 +1300, "Sidd" <[EMAIL PROTECTED]> said:
> 
> 
> Graham Kelly wrote:
> > In any case, real history has shown that there are fruadulent/crooked
> > admin in both gold based, and non gold based ecurrencies.
> 
> Yes, that is why it is imperative to have proof of the value 
> underwriting the currency, and that the value is safe from either 
> incompetent or dishonest operators.
> It's simple isn't it?
> Sidd.

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