[NOTE: Unfortunately the e-gold.com service is defunct. But there's no stopping a great idea! New alternatives will always be available.]
You have a choice between the natural stability of gold and the honesty and intelligence of the members of government. And with all due respect for those gentlemen, I advise you, as long as the capitalist system lasts, vote for gold. - George Bernard Shaw
"Gold is absolute objectivity. It is blind, like justice. It has no politics and ideology, no likes or dislikes, no friends or enemies. All it recognizes is its possessor, whom it serves faithfully so long as he has it." - British historian Paul Johnson quoting Charles de Gaulle
e-gold is a monetary (payments) system which enables the use of gold as money. Gold & Silver Reserve, Inc. administers the system, and oversees an inventory of gold coins and bars held in allocated storage by third party custodians. A quantity of e-gold in your account constitutes title to a precise weight (fine) of this physical gold. This means 100% backing with physical gold for the quantity shown in your account.
The primary function of the system is to facilitate payments, in gold (or silver, platinum, palladium), between e-gold customers. A secondary function is for e-gold customers to make payments to entities who are not e-gold customers. For this purpose, the e-gold system can be instructed to send payments in government money to specified entities, e.g., to pay bills. The following currencies are catered for: USD, CAD, AUD, GBP, DEM, JPY, CHF, FFR.
A secure, convenient interface - Account Manager - is provided for customer entry of transaction orders. All cleared transactions entail an increment or decrement of one's e-metal balance. The system calculates exactly how much metal belongs to each particular customer by adding all such credits and debits.
There is no cost or fee involved in opening an account. There is also no obligation. There is a small transaction fee on all transactions between e-gold customers, currently 1% (with a maximum of 50 cents). There are also reasonable costs involved when converting to or from government currencies, and when switching between metals, e.g., converting gold to silver.
e-gold is not merely wishful thinking, it is a reality available to you today.
See also:
Documented Statements From the American Founding Fathers & Modern Day People
Senator Warren Rudman
"In a few short years, the government will have to spend more to make its interest payments than it will collect in taxes, and in that year America will enter an age of financial disaster that will dwarf the GREAT DEPRESSION."
Alan Greenspan
"Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights."
Benjamin Franklin
"The colonies would have gladly born a little tax on tea, & other matters, had it not been that the Bank of England took away from the colonies their money."
Daniel Webster
(The American Revolution was fought over the issue of money. The paper money issued back then was called "COLONIAL SCRIPT"). "Of all the contrivances devised for cheating mankind financially, none has been more effective than that which deludes him with paper money."
ARTICLE 1, SECTION 10 of the American Constitution
"No state shall make anything but GOLD & SILVER coin a tender in payment of debts."
Coin - Title 12, U.S. Code, Section 152
"The terms 'lawful money' or 'lawful money of the U.S.' shall be construed to mean GOLD or SILVER COIN of the U.S."
Coinage Act of 1792
Congress fixed the dollar as a specific weight of silver and gold in the form of coin. THIS MEANS... If there is no SILVER or GOLD; then there is no dollar!
A "dollar" is a unit of measure, just like an inch, a quart or a mile. This unit of measure can't replace or become the "THING" for which it is the measure. George Orwell (1984) called this the "double think." Money has become just that!
Roger Sherman
Author of the gold & silver coin provision of the Constitution, wrote a scathing condemnation of paper money entitled, "A CAVEAT AGAINST INJUSTICE" in which he stated: "If what is used as a Medium of Exchange is fluctuating in its Value, it is no better than unjust Weights & Measures, both which are condemned by the LAWS of GOD & MAN."
This is why the Framers of the Constitution stipulated a monetary system of Gold and Silver as stated in ARTICLE 1, SECTIONS 8 and 10 of our Constitution: "Congress shall have power to coin money and regulate the value thereof ... No State shall make any THING in Payment of Debts."
Congressman Charles Lindbergh, Sr.
Father of the famed aviator, told Congress after the vote on The Federal Reserve Act, "When the President signs this act, the invisible government by the money power will be legalized." As a result of this Act, the American people lost control over our money system.
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