>I notice that the e-Bullion site has opened for business. >http://www.e-bullion.com/ > >Dave Brooks >Bricks of Gold >[EMAIL PROTECTED] (1) Agio at e-bullion is 1/2 of one percent per annum. Compare one full percent at e-gold. Finally some pressure on e-gold to reduce their agio a bit! (2) It seems to be stated that the fee for each spend is almost free - only 1/2 of one cent. (3) The Spendor, not the receivor, pays the spend fee. (4) A possibly big point: all gold at e-bullion is KILOBARS. None of these 400 oz bars. I think that is way clever. It makes the gold feel much more bailable and redeemable. I think that's very clever. I figured if i started a FAGWANE it would be called "kilogold.com" and offer that as a major, central benefit over e-gold. "Sound E-currency 100% Backed Metal Reserves in GOOD DELIVERY KILO BARS Gold (AU) Platinum (PT) Silver (AG)" [HOWEVER: on the "bailing in metal" page it confusingly states you can bail in other-than-kilo-sized bars. Also this page is crapped up http://www.e-bullion.com/reserve.php and runs in oz not grams, for some reason.] (5) If you're bailing in bars, it is $3.75 per ounce. IE, $1500 to suck 400 oz bars from e-gold to e-bullion. (6) Software - seems to be a simple reliable PHP system. They seem to have a nice coloc facility. Also "The E-Bullion� network was designed and tested by a crack team of the industry's leading security specialists." Wow! :) (7) Market Makers -- e-bullion seems to be it's own only market maker. You can only fund by bank wire or certified check. No credit cards. (8) Debit Cards -- they seem to be in the process of hooking up a debit card facility; that would probably be their most popular point over e-gold. (9) Exchange rate -- on each of the occasions I checked, the e-bullion exchange rate was the same as the e-gold one. {In the future, there is no question that there needs to be clearing between e-gold, e-bullion, goldgrams, and anything else that claims it is 100% unencumbered bailed physical atoms of gold. (ie: it either is, or is not, physical atoms of gold - the rest is talk -- if it is physical atoms of gold, they can clear equally .. just as in any historic situation where free money existed, there would have to be central clearing between the competitors, it will spontaneously arise.) If there is central clearing between e-gold, e-bullion, etc, by definition all would have to use identical exchange rates all the time for the major currencies, or there would be an easy arbitrage opportunity.} (10) e-bullion does NOT seem to have any facilities programmed in for shopping cart / merchant automation (11) Opening an account is about the same amount of info as e-gold .. maybe a little more required. (12) This confusing comment in the FAQ does not seem to understand the difference between APR and EFF "Storage Fee You will be assessed a one half (1/2) of 1% storage fee monthly. This is to offset the costs associated with supplying secure, safe and insured storage facilities for the physical bullion. This fee is calculated upon the weight of the metal in individual accounts once a month and is deducted from each account. The formula is: Account Balance times .50% divided by 12 (months)." whereas the comment in the user agreement is clearer: "STORAGE FEES User acknowledges a storage fee will apply to the User's account balance. a.This storage fee will be calculated on a per annum basis, using a standard banking calendar, and assessed on a monthly basis. b.The storage fee will be one-half of 1% percent (of account value/balance) per annum, assessed monthly. " (13) There seems to be about 20 kilos in reserve currently. DANGER: All gold bullion shops offer "pool" and sometimes "pool segregated" accounts. These are -- crap. The concept of the metal in the storage actually matching the numbers in the pools, in these "pool accounts" is very vague, and that's how all bullion shops are. e-gold appears to be perfectly "tight", e-gold would never just slop around (perhaps "knowing that gold will come soon", for instance), it's perfectly 1:1. Gold bullion shops "pool" acocunts are the oppostie of that, just crap approiximations, they often slop around and make approximations, etc. There's a danger that since e-bullion comes FROM the gold-bullion-shop-world, they may adopt a similarly loose posture about 1:1-ness. Hopefully e-bullion will reassure everyone on this. --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED]
