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Tuesday, March 10, 2009

DIGITAL Gold??!!

I love WorldNetDaily. They report stuff nobody else does. Today, Jerome Corsi reported that there is a move among the globalist powers that be to move to digital gold. Right. eGold has been around for years and globalists henchmen have been doing everything they can to trash it, claiming that it's a fraud. Uh-huh. eGold had the gold until it was seized. My only complaint about eGold (it's a little one at that) is that, when I lost my password and the email account I was using disappeared, I couldn't get back into my account and there is no way for them to contact me and know it's me. Probably it's mostly my fault because they do have the responsibility to protect the gold from hackers. Fortunately I only had about 30 bucks in it. Otherwise, it was a pretty good idea because they were regularly audited and published the results. Now that the globalists are getting the idea, I wonder if the new digital gold mint will submit to an audit. The Federal Reserve doesn't. They are strongly globalist so, my opinion is that the globalist controlled digital gold won't either. Guess what? That means inflation as surely as the night follows the day. I'm okay with digital gold issued privately that is audited but our governments have proven that they can not resist the temptation to issue more receipts than the amount of gold (or anything else for that matter) they have. Why? That's easy. The government won't put itself in jail for violating trust. Private mints that violate trust have a harsh penalty to pay and rightly so but government getting involved in the digital gold business is a major conflict of interest. Avoid it. By the way, the Perth Mint in Australia (government controlled) has a certificate program that is used to finance the inventory of minting operations. That's okay if you know about it ahead of time; I found it in their audit footnotes (something like footnote 27) which means, your gold isn't sitting safely in a vault but is used in minting operations. If you want to, use the certificate in the short term to move gold across international boundaries and redeem them right away but the scuttlebut is that redemption takes a long time. Be aware of the details which change quickly. Best to hold the metal.

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