> Imagine if the the only way to fund a DGC account was to deposit > physical gold coins! > Well Ian, you are overseeing one unique item there. By depositing actual coins, two things are a given: (1) the gold is always available - no M3 here, no electronic money, the bank MUST have the coins in stock, because withdrawal is in coins. (2) nobody can decide to set an artificial value for the coins and force a fiat exchange on withdrawals.
In other countries where gold accounts are offered, making a deposit or withdrawal is always in the local currency. Imagine the government there deciding that gold goes at 95 local currency units (althought he real value is 1000 LCU). As you can not make real gold withdrawals, your gold account in those locations has in fact not really gold in it - just the promise that it's kept in gold. Also, when real coins are involved, there is no interest (given or charged), nor are there taxes. The concept of this trial is in fact to show that an economy can grow and a country prosper without being at the mercy of the interest sharks. After all, the amount of gold available on the planet is finite and hence interest can be only paid to a very limited extent, if that. That said, the scenario for DGC is different. There is little chance that a government could interfere with gold price setting policies. Obviously there is also no interest involved and hence them having the gold in storage and selling 'rights' is workable. But the aim of a DGC and the Golddinar concept are completely different as well. Cheers, Robert. budget & privacy website hosting http://www.cyberica.net budget & privacy domain registrations + mail http://www.u2planet.com/cfdomaintrust.html --- 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.
