At 10:30 AM +0300 6/22/03, Danny Van den Berghe wrote: ... >It will be redeemable for real gold bars if you have at least 10000 ounces, >100000 shares (too high for most, but it is redeemable and that's what >matters) >And this gold ETF has no storage costs. ...
Beware. Just as there ain't no such thing as a free lunch, there also ain't no such thing as a "free" gold storage facility. Unlike JP, they do not repeatedly-explain that they're doing this for marketing reasons, they just say "no cost." Red-flags galore, IMO. No way. I just don't believe 'em! Storing lots of gold involves things like secure buildings and trusted employees - some of whom have gun(s). These things are NOT free!! On top of that, I'm betting their (probably slow...) exchange process will take MORE of your money than paying the spread and buying e-gold. Someone might contact a stockbroker to verify this, but there's no way that ALL of this is a charity like their storage arrangement. "Free" storage allegations smell to ME like paper-gold, not the real thing. Give me allocated, LBMA good-delivery bars, with unique numbers on them. Period. I also wonder why they force those with 400 oz (a STANDARD size of bar!) to get 10Koz (which means some non-standard segments!) for redemptions. Finally, they're on stock exchange(s) which permit (or at least have a hell-of-a lot of) front-running, rather than on the DBourse, which so far has proven itself more-trustworthy IMO, but I admit "so far" hasn't been too long...Let's just see which market gets the next scandal, DBourse or one of the "established" ones. I know where I'd put MY money if this were a bet... JMR --- 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.
