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Electronic Gold Exchange!
by Flavesco Dauricomes
http://www.frgold.com
What if I told you of a new twist on an ancient form of
currency (i.e. gold exchange). Where you do not have to
worry about inflation or devaluation of your of your
currency. No more waiting for checks to clear or credits to
be made to your account. No more exorbitant fees to be paid
on transactions and a currency that you can use worldwide
just like any other. So the the thought comes to mind, what
is this author smoking?!
You might be thinking, how am I ever going to store all this
gold bullion? And, how I will ever manage to carry the shiny
glittery stuff around, it weighs a ton? There is no need to
worry, all the transactions are e transactions. With the
gold held in allocated storage. And every transaction you
make, through your e gold account will be backed by 100
percent gold bullion.
The gold is held in a trust and the associated storage and
security fees are spread out amongst the members of the
'trust' or it is paid by a company storing the gold on your
behalf. In return the company makes a profit by charging a
small percentage on transactions. It is extremely simple
opening an e gold account and it is absolutely free. On
opening the account you exchange your currency(i.e. buy)for
ownership of a certain weight of gold. You can then transfer
this 'ownership' of gold using reputable independent
exchange services. A little bit of research is entailed to
find the ideal one for you by checking out news groups on
the subject and testimonials about a particular services.
Is your account secure? When setting up an account, you are
given a passphrase that is exclusively yours. It is
encrypted so that even the account provider is not able to
learn your passphrase. This is your key to accessing your
account, which you can do online twenty four hours a day.
Your balance and account history can be downloaded and your
free to spend your electronic gold to the other electronic
gold accounts.
You can also interface your e gold account with a shopping
cart interface and therefore be able to use it as a merchant
account to process payments from customers. Due to payments
not having to go through a clearing process like checks
there is no delay in payment. Credit card fraud and charge
backs are eliminated since in effect the whole system is
backed by gold and all you are doing is transferring
'ownership' of it. This is all done electronically without
the disadvantages of transport and storage of the gold
itself.
Gold can be used as money and can be spent electronically.
The gold will remain in storage and only the ownership will
change. You can also revert your electronic gold currency to
paper currency. And have it deposited to a bank account of
your choice. There will be a small charge for the services
provided by the electronic gold currency exchanges. Also
there is an effective maintenance charge of one percent per
annum. It is based upon the last assessed daily average
balance of gold on account. This fee is deducted on a
monthly basis. The popularity of electronic gold is set to
grow, with usage in many countries already taking place. And
finally, credit cards will have to face a competitor that is
rapidly increasing in strength.
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