E-Standards Of Gold And Buying Gold Online
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E-standards of Gold and Buying Gold Online
How much does one troy ounce of gold weight? And how does the bullion of this precious metal
weighing one gram look like? Have plunged in your thought? And did this for nothing... The answer
is simple: just several bytes. When in 1996 the designers of E-gold, legendary electronic payment
system, have presented the world a new embodiment of banknotes, a number of businessmen, whose
business was related to financial flows have completely forgotten about currencies, cross-rates,
Forex and inflationary expectations. E-gold payment system has offered an alternative to modern
money, and this overturned the world history of monetary systems’ development and funds flow.
Well forgotten past
Once in 1944 at UN currency and finance conference the world community has approved the
monetary system where function of world money was reserved for buying gold by the extent
showing how it continued to be means of final settlements between the countries. In other words, the
economists have agreed that any monetary unit in the world should be backed with gold. But 1976
has finished an epoch of the money backed with gold, and has declared special drawing rights in
International Monetary Fund (IMF) – SDR as world money. So, SDR became an international
accounting unit with US Dollar kept as the important currency.
www.WhereToBuyGoldz.com
And if at world economy level such system suited everybody, the genetic memory of each person
periodically prompted him that the paper banknotes laying in his purse and digital record on his
plastic card should be basically backed with something valuable and material. As the result in 1996
the founders of E-gold Company Douglas Jackson and Barry Dony opened a new stage of a gold
monetization history. The idea was extremely simple - people will believe in electronic money and
will use them much more willingly if the money is provided with buying gold. The funds receipting
on account of E-gold system converted in this metal by default. But while diversifying its services,
the payment system also provides an opportunity to back money on the account by other precious
metals, such as silver, platinum and a palladium.
The history of E-gold payment system development is only ten years old, however the company has
already passed a way from conceptual idea of payment system to world service governed by
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American company Gold and Silver Reserve, Inc. Its one day turnover is more than 1500000 $.
Such popularity is caused by the fact that in case of becoming an e-gold system user the any
physical or legal person has an opportunity to perform effective financial operations and
calculations, because after funds transfer a simple redistribution of the rights to precious metal
occurs while its physical location does not change. According to Gold and Silver Reserve, Inc. the e-
gold and places to buy gold reserves are in Brink's Global Services, Transguard Security Services
and MAT Securitas Express AG storehouses.
The proud status of e-gold user is also supported with company obligations to defend the client
funds against judicial claims of the other parties. The present aspect is controlled by the USA
legislation as legally e-gold is registered in the United States of America. Also the users are attracted
to e-gold with the anonymity policy of system participants. In fact e-gold doesn’t check the user’s
personal data.
It’s interesting to note that system isn’t tied to any currency and works with eternally liquid metals.
This gives the opportunity to any inhabitant of our planet to open his account free of charge. This
democratic approach attracts to e-Gold about 2500 accounts every day. By 2007 the total number of
the registered users was more than two and a half million. About 600000 of them are functioning
actively. By January 2006 in bank’s depositary on the accounts servicing E-gold system the total
weight of stored gold was about 3 tons. To be more exact 3 376 279 grams of gold with total cost
approximately 61 million dollars. We would like to underline the word “approximately” as a key
one. Why? … The state of the world market of the precious metals can answer this question…
Unfortunately, Payment System of E-gold on its basis dynamics level is subject to influence of gold,
silver, platinum or palladium cost on funds volume of e-gold user in his account.
Confidence crisis
Every year E-gold was firmly holding the pedestals of world financial Olympus and became a
reliable and habitual tool in the hands of its users. But simple and functionally working system by
means of which one can control the storage and movement of cash flow, begin drawing the interest
of swindlers and the persons that want to finance and to remain a mystery as well as hackers and
fishers.
The last ones have selected the tools of computer users’ password cracking as their field of activity
with a view of the further stealing of funds from the users’ accounts. E- gold.com website also is
being attacked more often by large-scaled Ddos- attacks that cause failure of the whole system and
the interruption of its work with the users. So on the night of October, 19, 2005 due to the Ddos –
attack the service of e- gold stopped its functioning up to the second half of the next day. And on the
2nd of March this year the specialists of “Kasperskiy laboratory” were revealed importunate spam-
message with the following wording in the body of the letter: "TOREFUSE FROM THE BULK
MESSAGE CLICK HERE". While one tries to refuse the damaging code is put into the user’s
computer. This code is stealing accounts’ numbers in E-gold and passwords for them. As a result
everybody whose accounts’ numbers got into the malefactors’ hands owing to these bulk messages
as a rule lost his funds on the accounts.
But the main victims that suffer from various operations and frauds with buying gold system are
states, legal persons as well as the population which has got into financial pyramids, created on the
basis of considered payment system.
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Finally such reputation of e-gold began to come over the limits of users’ trust to system. As a result
since the middle of December, 2005, the American government has appointed Gold and Silver
Reserve, Inc. as an object of heightened interest as it was the contract operator and the initial dealer
of e-gold system. Bank accounts of the organization have been frozen, and offices have undergone
the search. All these events also were actively exaggerated in mass media that caused negative
attitude and resonance of public.
It was crisis. It was exactly the critical moment when the company, having reached its development
peak, comes across the enormous obstacles both on society and state part and on the part of
business. But in such struggle the banner of a victory is usually proudly borne overhead by the one
who have on his side the truth and the users’ preference, but not by the competitors and powerful
state red tapes which have missed tax receipts.
And on January, 13, 2006 the USA district court has made a decision of cancellation of measures on
freezing accounts of Gold & Silver Reserve, Inc, in view of absence of inculpatory evidence of
system e-gold in law infringement acts. On the contrary Gold and Silver Reserve, Inc has insisted on
bringing out of its case beyond the court to carry on the dialog with the state publicly and to expand
a zone of the presence in the market of electronic payment systems.
As the result actually any claims of state, mass media or business to e-gold system are more often
based on the users’ rights to remain confidential during performance of financial transactions.
Though accusations of money-laundering or support of financial pyramids work are incriminated to
e-gold system, but have no ground from the users point of view, as everyone has a right to dispose
his own money, as he wants. And the matter of cleanliness of this money should be checked up by
corresponding structures at their earnings stage, instead of placement stage.
But regardless all troubles, today, in 21 century, places to buy gold and international payment
system grants the inhabitant of any country an opportunity to back his paper banknotes with a real
precious metal and do it absolutely free-of-charge not leaving his house. Undoubtedly, this fact of e-
gold leadership in the world industry of financial systems does not suit many and many ones, but the
wisest Confuciy bequeathed to mankind - If somebody spits upon your back, you go ahead of him.