Dear James, Thanks for the information on MAT/Via Mat.
It would seem that there is at least an implied criticism of e-gold's storage practices to be made here. In particular, from an e-gold page at http://www.e-gold.com/ceal-inspection-2001-02-22.htm we have, "Inspection of gold, silver and palladium bars and platinum sponges held by a chartered bank in Ontario (the "Repository") on behalf of E-Gold Ltd." Frankly, I find this confusing, because their page: http://www.e-gold.com/examiner.html suggests that all their 400 oz. bars (which are not all 400 oz., as we know) are stored in Dubai, Zurich, or London, as far as I can see. So, why are there 116 bars in a chartered bank in Ontario? Who knows. Two of the bars e-gold thought it had proved not to be there, and two other bars were there instead. Not exactly a worry, but not a huge comfort, either. Could a chartered bank in Ontario be one of the bullion banks you mention in your messages? If so, I wonder if people are putting excessive faith in e-gold which might not be quite so warranted? For some time, I've preferred both GoldMoney and 3PGold as rational alternatives to e-gold. Two further clues to e-gold's gold storage situation seem to appear at: http://www.e-gold.com/unsecure/thelist.htm#admin which lists JP Morgan Chase and Transguard as repositories. The JP Morgan Chase link reveals a contract with a London facility operated by JP Morgan Chase, which might correspond to some of the bars listed as being in London, I would guess. Transguard is the Dubai facility, which has been described in a Wired magazine article by Julian Dibbell, and on the e-dinar site, I think. The Dubai facility is secure storage a the Dubai airport, which sounds a lot better to me than anything to do with JP Morgan Chase. It seems to me that JP Morgan Chase is one of the big New York banks that exerts tremendous influence over Federal Reserve system policies, such as the interest rate (yield curve) situation you mentioned. So, with bullion banks in New York and London and perhaps elsewhere technically insolvent, I wonder how we should all react to the presence of e-gold, Ltd., bars of gold in storage in these places? A flight to value might be in order. Just a thought. Regards, Jim http://www.goldbarter.com/ http://www.two-cents-worth.com/?101468&EG --- You are currently subscribed to e-gold-list as: [email protected] 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.
