John,
Any merchant can put up a price either in "USD worth" or simply XAG or AUG.
But if he uses AUG, the cost in currency would vary with the forex. Egold
*is* spotty ("1 USD worth of egold" is 1 USD) as long at it's used *in* the
system, and not in/out-exchanged.
Heck, one could say egold is not spotty even in the system because there is
a 1% transaction fee! But this way, neither are the USDs on your credit
card because of the fee of the credit card company. But the fact is that
there is no spotty currency because there is an annual inflation, so the
USDs you got a month ago don't have the same value now, unless you *spend*
it immediately into the *system* (just go and buy your groceries, now).
There is no such thing as fixed money!
The Keynes theories don't apply here because the egold economy can't rely on
people who invest their money and *expect* a return (because these people
use banks and the "real" world), but *spend* their money *without* expecting
egold in return (so they don't need to out-exchange - they don't care about
the out-exchange fees)! Merchants need to out-exchange, and they can cover
the extra fee but simply showing a single price for both egold and credit
cards!
By the way, thinking to the future of E-gold, if you (E-gold) want to become
a universal "money" system, you will need to have, at some point, an egold
*debit* card. It doesn't matter if it's a separate business (like OmniPay),
but should definitely bear the stamp of GSR. This card should be used only
in the "real" life (outside Internet), so the egold accounts must have
special attributes that define their use. If interested in details, I can
give more.
James wrote "They produce no value FOR YOU"
No, they produce no value for the economy (E-gold's or the real one's)
because the readers are not willing to spend. Who do you call professional:
a site that offers a few cents for an email, or www.postmasterdirect.com?
Which of these parties generate more value for both sides (advertisers and
readers). Who would you use to advertise with?
Sidd wrote: "As far as I can see, "e-gold spot" is some arbitrary figure
that e-gold periodically simply "choose", based (perhaps) on the movement of
the international markets"
Am I in the dark here??? Have I completely misunderstood things? The egold
"spot" is the forex spot for whatever currency you use to buy/sell GOLD! How
can you say it's an "arbitrary figure"?
P.S. According to AHD (American Heritage Dictionary), a "whoremonger" is a
"whoremaster", a pimp.
Regards,
George Hara
www.filematrix.xnet.ro
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