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FIB - Scams 101 - Ye Olde Archives
Posted By: Bill Cornelius In Response To: Pay for training? Why? (The Roadie)
Tuesday, 25 January 2005, at 4:16 p.m.
The information you provide here is not correct Roadie.
> I guessed it's a made-up term for "digital ingot", designed to
> make you believe there is some gold in there somewhere backing up the
> e-currency. A sham, of course. There is no gold, except as coating on some
> wires in the chips that make up the virtual economy.
The e-gold term of service states "All e-metal in circulation shall be backed 100% at all times with unencumbered metal in allocated storage".
There most certainly IS gold in reserve backing e-gold deposits. If an account holder maintains a balance high enough to redeem a full troy ounce, they have the option of receiving their value in gold.
> Anybody who thinks there's real gold behind any of these e-currencies has
> been reading way too much Harry Potter. If they really had the gold, and
> it was really being used to "back" the e-currency, that claim
> could be verified by an independent, trustworthy third party.
I can't speak for the "training" program discussed in this thread, but currency trading can be very profitable as can high yield investment programs. There are a few basic rules everyone should follow with regard to HYIPs.
How about the people holding the reserves? Are they trustworthy?
Details of metal held by Brinks, Transguard and MAT Securitas Express AG in reserve for e-gold can be seen here
(1) Only risk capital should be used.
(2) If you have a mortgage, car loan, credit card balances, personal loans or owe the paper boy for this months deliveries you have no risk capital.
(3) If you meet requirement 2 but have less than 3 years living expenses in immediately available liquid funds, you have no risk capital.
(4) If you meet requirements 2 and 3 but have less than 20 years living expenses in a tax deferred annuity, IRA or 401k you have no risk capital.
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