Forum Archive Index - January 2004

["Baa Baa" <baa_baa@hotmail.com>]

Chris,

Although I like the presmise behind e-transations underpinned in gold, I'd 
have to say that 1. I don't use it, and 2. I suspect few do either. It's so 
-contradictory- imo. Electronic transfer of an 'entry' in an 'electronic 
database' which is -supposedly- linked to a physical -gold- deposit is, imo, 
strange bedfellows, at this point in time. Firstly, gold is a physical 
thing, tangible, real, intrinsic, basic. But, e-transactions are a 
-mechanism- to make some funds transfer, reliant on the e-regime, and 
e-availabiliy (of computer/network systems) to effect the transfer. The two 
don't gel imo, yet. I only own gold (and sludge) as insurance, even although 
my % exceeds common guidelines, so, I can't reconcile the notion as yet why 
I would move to underpin my e-transactions in a metal when the -mechanism- 
itself is inherently risky BUT the underlying asset is not. Frankly, there's 
no need to. We can prepare ourselves through separatist investment in 
intrinsic value while maintaiing participation in daily transactions which 
leverage advanced technologies. Personally, I don't see a compelling need 
yet to blend the two. It may come, but until my employers pay me in metals, 
I'll be happy to daily use e-banking, Paypal, e-Bill, Billpay, ... or 
whatever, before I present my metal as liquidity for a day-to-day 
transaction.

Did any of this make sense?
BAA


>From: "Cristine Kerr" <criskerr@optusnet.com.au>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: [sharechat] Goldmoney website
>Date: Tue, 27 Jan 2004 13:12:16 +1000
>
>Hi Woody & Baa Baa & others,
>
>Just saw an ASX announcement from DRD re purchase of a stake in the 
>following:
>
>http://goldmoney.com/en/index.php
>
>(founded by James Turk)
>
>Thought it might be of interest providing the gold - said to be stored in 
>vaults globally - reallys exists of course!
>
>Regards,
>Cris
>
>
>

_________________________________________________________________
Gaming galore at  http://xtramsn.co.nz/gaming !


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