I am the founder and Chairman of e-gold Ltd. Contrary to the luridly irresponsible and actionable headline on this article, there has been no raid on e-gold Ltd., or on Gold & Silver Reserve Inc. [dba OmniPay http://www.omnipay.net ], the company that originally developed the e-gold system and currently serves as Operator. The more edifying reality is that e-gold is the world's first electronic currency designed for borderless eCommerce, enabling the worldwide use of gold as money. It merges the digital transaction efficiencies of an electronic payment system with a universally acceptable basis of value. The advantages of e-gold include: … Low transaction fees ñ The maximum payment processing fee is 50 cents (US-equiv.). For a $1000 value payment, this is less than one twentieth as much as credit cards. … Immediate settlement ñ e-gold payments clear instantaneously, no matter how large or small the payment, no matter how far apart the spender and recipient. … Non-repudiation ñ No chargebacks. Get paid, stay paid. … Direct access with bi-directionality ñ Anyone can pay or be paid. … Automation support ñ The e-gold Shopping Cart Interface is easily implemented and provides immediate authenticated notification of completed payment. … Zero financial risk ñ e-gold is the worldís first remote payment system backed 100% by physical gold in allocated storage. e-gold is in fact succeeding where other electronic payment initiatives are failing because it is designed specifically for worldwide eCommerce. All others merely add additional layers of liability to legacy systems. Since online launch November 1996, the e-gold system has been growing at an accelerating pace. As of April 2000, 100,000 transactions had been settled. The one millionth transaction was November 2000 and the second million mark surpassed in March 2001. It is regrettable that the first time many people will hear of e-gold(r) will be this sloppy and damaging Wired headline. Dr. Douglas Jackson Founder of e-gold ************************************************************************** Subscribe to Freematt's Alerts: Pro-Individual Rights Issues Send a blank message to: freematt@coil.com with the words subscribe FA on the subject line. List is private and moderated (7-30 messages per week) Matthew Gaylor, 2175 Bayfield Drive, Columbus, OH 43229 (614) 313-5722 ICQ: 106212065 Archived at http://groups.yahoo.com/group/fa/ **************************************************************************