> > Are there any e-gold exchange providers in Malaysia? We do ist as a sideline at www.cyfrocash.com and have our main office in Penang, Malaysia
> > Any information on how e-Dinar is progressing would be appreciated. Was the >endorsement by Malaysian Prime Minister Mahatir Mohammed of the gold Dinar some >months ago referring to the e-Dinar (or another gold Dinar which he is sponsoring)? The PM has to my knowledge endorsed both, the e-Dinar AND gold Dinars. But they have nothing to do with each other per se. It is a bit confusing that the e-Dinar site has a photo of gold Dinars on the site. The main aspect is that the gold Dinar used to be used as a means of exchange in Islamic countries in centuries past. The concept of having reintroduced the gold Dinar for Trade between countries is mainly to reduce the dependency of developping nations on the US dollar. It doesn't really make sense that if one developing country wants to buy cocoa from another that the first has to get US dollars, pay for the cocoa and the second then sells the US dollars to pay for something else. It inflates the value of the dollar for no other reason than it being the 'measure of trade' and therefore has to be bought at least once in each transaction. The gold Dinar is actual value in itself. Hence trade of goods [barter] suddenly becomes possible because each good is valued against gold rather than against a peice of paper that has no inherent value other than what people arte willing to exchange for it. So, Malaysia is promoting the gold Dinar now in the third world and the middle east and it seems the first countries have signed up to it. Ultimately there is planned to be a Board of Exchange where every country's produce is valued in gold and where each country can start buying goods against the value of the goods they themselves have in stock already. Under the Islamic principle, the whole thing then does not attract any interest and as everything is calculated against gold, there is no inflation either, in theory. Just thought it might interest the more libertarian minded users what's happening in this part of the planet. >> I see from the web site e-Dinar has incorporated in Malaysia, but still wants payments sent to USA for payment for credit to a Malaysian institution! e-Dinar is incorporated in Labuan, an offshore location in Malaysia. This allows for different accounting rules and better privacy. Having payments sent to the US makes perfect sense because as far as I know, they will buy e-gold against the e-Dinars they issue. Saves exchanging back and forth as well as bank fees --- 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.
