From: <[EMAIL PROTECTED]> > NOWHERE ON THAT PAGE does it assert that that table "is a balance sheet"
Technically you're right: a balance sheet is something showing Assets = Liability + Equity. I have been ASSUMING that they have listed ALL the liability of the trust, and therefore the difference is Equity. OK, screw the terminology and let me see what we really know: 1. The extra 19,105.92 gg belongs to somebody. 2. The extra 19,105.92 gg does NOT belong to e-gold account holders. Funny: as an e-gold account holder, it is literally none of my business to whom the extra gold belongs. > At 7:45 PM -0400 6/3/02, Patrick Chkoreff wrote: > >All I'm asserting with confidence is that SOMEBODY has this balance sheet: > > > >Assets: 1,952,954.93 > >Liabilities: 1,933,849.01 > >Equity: 19,105.92 > > Your confidence is totally misplaced, Patrick man! > > Again, if we're GONNA speculate, the far, far more likely explanation > is that the "extra" gold is "owned" by someone else (ie, its a > liability to the SPTrust) .. that somebody else being say Omnipay .. > and it's in there as sort of a slush; to make it faster to move gold > bullion into and out of the e-gold system. > > (If that's the case, it's a superb idea.) OK now we're getting somewhere, JP. Something like this might be the "real" balance sheet 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 I will certainly grant you that, JP, and it's an excellent point. Also, your speculation that one of the unnamed parties is Omnipay might be right on target. Now see how easy it was to set me straight JP? All you had to do was zero in on the one offensive premise and propose a credible alternative. You can still say the "You're insane!" part, just follow up with "The difference is not Equity; it's another Liability!" :-) :-) > ...and your immediate confident guess is that "ah hah, through > torturous accounting there must be an asset somewhere" A far more > likely ordinary guess would be "oh, that's not really a formal > balance sheet" Ah, but remember this: there really is a formal balance sheet "out there". We are just trying to infer its properties from the available evidence. You have merely proposed an excellent alternative theory. :-) -- Patrick --- 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.
