The smart thing to do is find out what the feds or they did that was wrong, as the records will show, then close that loophole.
If I have gold do the feds roll up
if I have gold and I use that as collateral to borrow against and then load that money to someone... no...
More the the Egold issue than we can type up in a text but the end result is that OFFshore and secured Gold is Not illegal.
Nor is the concept that the Bank is only holding the physical gold for its investers. Let the Feds come and arrest 100 million ppl...
Now how about that... I do a search and not ONE mention of the EGOLD Bank.
Maybe this may be the answer..
E-gold was a digital gold currency operated by Gold & Silver Reserve Inc.
so in point of fact it was promoting a digital currency....
e-gold was processing more than US$2 billion worth of spends per year,[1] on a monetary base of only US$71 million worth of gold
Add the fraud and hacking of their DIGITAL system... in came the feds.
Hope that helps
>e-gold was processing more than US$2 billion worth of spends per year,[1] on a monetary base of only US$71 million worth of gold
The value of transactions divided by currency in circulation has a name: the velocity of money. I took every undergraduate economics, finance and accounting course. Far more is processed in transactions than there is any currency.
Remember the $2.3 trillion missing from the Defense Department? That was stated in inter-agency bookkeeping transactions. The actual amount was only 10s of billions.
Egold was taken down for money laundering because they were not reporting transactions to the government, not because the system was not sound.