E-Gold Goes Down in Flames

[BaRbArIaN]

http://www.rationalreview.com/content/22086

Oh sure they still exist, but of late they are just another FedGov datasource.  Too bad, for fear of a few bad actors, all are denied relatively bureaucracy-free electronic transfer of gold based value.

[David]

That is my big concern with any computer or bearer instrument system like the liberty dollars certificates.  The gov't can and will harras, control, or shut down the systems.  The foreigners have it right.  The only thing beyond complete gov't control is a very decentralized cash system.  Actual silver or gold in the hands, is the only way to prevent total gov't interference. 

[error]

There are a couple of other ways to do it. I'll tell you about them in person.

[Michael Fisher]

Why was e-gold ignorant enough to base itself in the U.S. and assume this would not happen?

The first time I heard of e-gold's run-in with the feds, I closed my account immediately. Electronic gold is not gold, anyways. If the system collapses, you lose everything.

I prefer physical bullion only.

[Michael Fisher]

The first time I heard of e-gold's run-in with the feds...

This was sometime between one and two years ago, I believe.

[Caleb]

Electronic gold is not gold, anyways. If the system collapses, you lose everything.

I prefer physical bullion only.

So ... how do you store it, Michael?  I agree with you, personally.  I just don't know that I'm comfortable storing my retirement savings in a shoebox under my mattress. 

safe deposit boxes are not safe....

There doesn't seem to be a safe solution for protecting your money.

[Dreepa]

So ... how do you store it, Michael? 

A detailed treasure map, preferably in pdf format, would be helpful. 

X marks the spot.

[aries]

egold was great for buying weed online

[Michael Fisher]

Electronic gold is not gold, anyways. If the system collapses, you lose everything.

I prefer physical bullion only.

So ... how do you store it, Michael?  I agree with you, personally.  I just don't know that I'm comfortable storing my retirement savings in a shoebox under my mattress. 

safe deposit boxes are not safe....

There doesn't seem to be a safe solution for protecting your money.

All you have to do is hide it under the...

Hey, you're trying to find out where I hide my money, aren't you!? 

[maineiac]

e-gold never claimed to be an anonymous service. Though I find Jackson's actions distasteful, he is only doing this latest self-policing in an attempt at self-preservation.

e-gold is still a fine system as far as it goes. I generally spend my grams on items from Amazon through a proxy. In light of all circumstances, I try to keep my balance at any given time under $100 worth.

Remember: Long term savings should be held in physical PM's in a secure location--"If you don't hold it, you don't own it!"

Have a free day!

[BaRbArIaN]

http://www.moneynetnews.com/articles/54/1/US-Government-Forces-E-gold-Redemp

Despite their cooperation, fedthugs put a bullet in eGold's head.

[Russell Kanning]

it doesn't work well to negotiate with the terrorists or blackmailers

[Russell Kanning]

they want us to use their money .... and then give most of it back to them

[Friday]

How is/was e-gold different from something like http://www.goldmoney.com/en/why-goldmoney.php ?  Are there any reputable services where you can keep your assets in gold but have a debit card to draw off your balance?  Thanks for any recommendations.

[SethCohn]

How is/was e-gold different from something like http://www.goldmoney.com/en/why-goldmoney.php ?  Are there any reputable services where you can keep your assets in gold but have a debit card to draw off your balance?  Thanks for any recommendations.

We've actually talked about creating such a thing here in NH, using the talents of people such as Brian and Belforti.