I would like to ask the legal experts on this list the meaning of this statement found in "The e-gold Bullion Reserve Special Purpose Trust". The statement is: "4. PURPOSES OF THE TRUST 4.1 purpose of holding precious metal bullion on behalf of and for the exclusive benefit of all e-metal account holders collectively, pursuant to the e-gold, e-silver, e-platinum, and e-palladium currency contracts, all of which explicitly require 100% physical reserves backing all e-metal in circulation. " Here in Canada, I am told that trustees always own the asset that is held "in trust". The ownership is of course temporary and last until a transfer is requested by the authorities who established the trust. Does this definition make sense? If so, can we say that "The e-gold Bullion Reserve Special Purpose Trust" temporarily owns the gold showned on the account balance of e-gold users until a redemption order is made by the authorities (Gold&Silver Reserve/e-gold) who set up the trust ? --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] Did you know that e-gold Ltd. stores more gold on behalf of customers than many countries? See http://www.gold.org/Gra/Gra1.htm and the e-gold Examiner at http://www.e-gold.com/examiner.html for details.
