>Tristan, this is pure speculation. Dear JP,
It, in fact, may be. But here are the numbers. Yesterday: The e-gold trust owns (assets) 1,952,954.93 grams of gold The e-gold trust owes (liabilities) 1,933,833.44 grams of gold Today: The e-gold trust owns (assets) 1,952,954.93 grams of gold The e-gold trust owes (liabilities) 1,933,846.62 grams of gold Notice how the assets are the same. Notice how the liabilities have changed. Thus, the assets have covered the increase in liabilities. Thus, this supports my assertion that e-gold purchases gold ahead of demand, to account for future demand. Now, I conceed I don't know for absolutely sure - this just seems to make sense to me. At least this is how I would do it if I were running a private currency backed 100% by gold. JP - if one were running a rather large currency issuer like e-gold, one would not scrape off gold from the bars each time a new liability is exposed (when someone purchases e-gold from OmniPay). One would deal in what is more efficient. In this case, it's bailing in 400oz bars at a time, even though someone may have only purchased 40oz of that bar. The rest of the 400oz bar is still in the system, ready to be purchased by other customers. Regards, Tristan --- 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.
