In GM's press release it is interesting that Mr. Turk framed the patent issue as if it has some relevance to the failure of Standard Reserve and OS Gold. His comments suggest that he view GoldMoney's role as being the ethical police force of the gold currency industry.
Really a patent has nothing to do with business ethics. The reserve backing OS Gold and Standard Reserve was abused or never existed. That is fraud, not patent infringement. If those two companies had been infringing upon the Turk Patent then they would have had assets in their vault that were directly owned by their customers. Hence no fraud could have been committed since neither SR nor OS Gold would have had discretionary authority to spend the assets. Mr. Turk is missing an opportunity to spin the failures of OS Gold and SR as an example of the superiority of a custodial currency as GM claims to be versus a deposit currency like e-gold and the rest of the companies in the industry. To do that, though, he would have to admit that the system described by the GM patent and the e-gold model of deposit currency are two completely different things. Just a point to consider. --- 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.
