The Case Against E-gold
June 17, 2007
Came across this on Mark’s DigitalMoneyWorld and thought I should share this as well as it’s really a good read. Also if you can, feed DigitalMoneyWorld on your RSS feed. It’s worth it.
DID YOU SEE that the US Department of Justice indicted on-line firm e-Gold on charges of money laundering, conspiracy and operating an un-licensed money transmitting business?
The US government claims e-gold’s easy-to-use private transaction service makes it easier for criminals to launder money. For good measure, the Feds added that a digital payments system in gold would be favored by terrorists, child pornographers, and other real or imagined enemies of the nation-state and civil society.
Did it occur to the Feds that maybe people want to use gold as money because they have no confidence in the fraudulent, counterfeit product currently printed by the US Treasury?
Governments fear gold because it competes with their own paper currency as a viable and preferred means of exchange AND a store of value. So, under the guise that only people with something to hide would use a digital payment system backed by gold, the US government is hoping to obscure what the very existence of a company like e-gold signals: a growing lack of trust in the money of the American government.
The huge bull market in resources and resource stocks is also a sign of U.S. dollar diversification. Investors and foreign governments are storing (and hoarding) their wealth in more tangible sources of value rather than US currency or bonds. If anything, the Department of Justice’s attack on e-gold is a sign that officials in Washington are getting nervous.
They don’t want any competition for the dollar. They have lawyers and jails and are willing to use both.
Incidentally, we asked a lawyer friend of ours who works for the Department of Justice what he thought of this case. Off the record he wrote:
“I wonder how, with all that anonymity [in the creation of e-gold accounts] the government will show that the company knew that they were receiving money from these illicit sources. This is the crux of the case. Knowingly receiving stolen property is a crime and having any involvement with kiddie porn is probably enough for a jury to convict anyone, but I would venture a guess that every bank in the world, without exception, possesses proceeds from criminal gains. However, most depositors don’t inform the teller where the deposited money came from.”
The US government has ruined American money. It is the biggest fraudster of them all. People are seeking alternatives like e-gold to protect themselves from the government’s monopolistic debasement of the currency. Trying to make alternatives to that money illegal or criminal doesn’t change the fact that the money is suspect. It just alerts the public that something is horribly wrong with America’s currency.
This is good for gold, if you can keep it.
Dan Denning, 04 May ‘07
Formerly editor of Strategic Investment with Lord William Rees-Mogg, Dan Denning is an independent investment analyst now based in Melbourne, from where he edits the Australian edition of The Daily Reckoning. He is also author of the best-selling The Bull Hunter (Wiley & Sons).
Original post by Jude and software by Elliott Back
E-gold exchangers under DDOS attack
June 16, 2007
Icegold, Goldexchange.eu, Goldex.net and a couple other exchanger are the target of a DDOS attack. Sounds stupid to me to attack exchange services. DDos attack’s are only affective against ponzi’s so why waste your time setting up such attack against exchangers? Icegold isnt even fully operational. Only idiots waste their time to launch an attack on a site that’s malfunctioning in the first place.
Original post by makila and software by Elliott Back
Video - Speeding Up Your Firefox
June 14, 2007
Pretty few steps to speed up your Firefox. It’s easy to understand too 
Cnet - Speeding Up Your Firefox
Original post by Jude and software by Elliott Back
Marketiva Accepts E-gold Again
June 14, 2007
According to updates from phildunn in NN.
Marketiva has resumed to accept E-Gold deposits today. U can see E-gold payment options is listed there in the deposit page.
Original post by Jude and software by Elliott Back
Old Style Banking Is Evolving Into Electronic Money
June 12, 2007
Homo erectus was the one of the first creatures to walk upright sometime around 1.6 million years ago and he pretty much set a ‘trend’ for the rest of mankind. This evolutionary ‘trend’ is still followed by most of us today, especially when it comes to finance.
Digital or ‘electronic money’ evolved about a decade ago during what scientists are now referring to as the ‘Early E-banking Period’ (don’t see History of the world.) In this era, money began to evolve and grow beyond traditional online banking.
From this brief period in mankind’s history, ‘Digital Money’ has emerged and spread into most domesticated regions of the world. ‘Digital Money’ is widely studied by academia and credited for charting the financial future for all of mankind. That path in recent years has shown a sharp divide and scientists are now predicting a rapid decline in traditional banking as we once knew it.
One of the latest evolutions in digital money has just been reported in the United Kingdom. Early discovery of this new e-money shows it favors the cold rainy climates of the UK and is not yet found in warmer regions such as the Americas, Europe or Asia. While similar to its ‘Pre-Internet’ cousins, this species has dramatic and clearly defined evolutionary differences.
‘Electronic Money’ is believed to have evolved out of the need for faster & cheaper versions of traditional money. Somehow, nature has found a way. New features of this e-money give users the ability to receive funds which are transferred or transmitted by a simple bar code. The code can be received by mobile phone or even e-mail. Like most of electronic money’s evolving cousins, this new species allows a user to send ‘barcode’ money at a fraction of the cost compared to it’s ‘Pre-Internet’ ancestor the paper check. Lower cost is a widely recognized characteristic of all new e-money.
Scientists estimate that there are already over 14,000 Post locations throughout the UK where this newly tamed financial species can be observed. Web sites such as ePaymentNews are already reporting recent mass sightings.
Anyone using this new e-money creature can receive a bar code (email or cell), visit it’s home habitat (UK Post), scan it on any Post Office branch counter and receive and instant cash payment. Simply amazing…..This new species has been named the “Payout” service.
With the financial world now trailing after our old friend Homo eretus and quickly evolving….will traditional banking soon become extinct?
Will nature chart a course of mobile commerce, digital currency and e-money leaving behind ‘Pre-Internet’ high interest checking, free toaster giveaways and the monthly paper statement?
To know the answer to these questions, we will have to let nature take its course. Be on the lookout for more confirmed sightings of new financial creatures here at DigitalMoneyWorld.
Original post by ePanama and software by Elliott Back
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