Thursday, January 19, 2012

The Final Days of eGold

Below is an important interview with the founder of eGold, Dr. Douglas Jackson.

eGold was shut down by the government because, according to the government, eGold allegedly housed accounts used in criminal activities. After the shutdown, the government identified only 609 accounts tied to criminal activity. Those accounts had a value of only $8.6 million. Most accounts totaling more than $80 million had nothing to do with criminal activity.

There is most likely more criminal activity on a daily basis by those using postal money orders or accounts at Jamie Dimon's monstrosity JPMorgan Chase. The lesson here is that, yes they have us surrounded and will come after us when they want.

The eGold account holders with the non-criminal gold accounts have still not received their funds and the government will not allow the release of the funds until they have completed the "Customer Identification Process."

Bottom line: Be very careful of getting involved in any major programs to get around using the dollar as a means of exchange. The government is watching and will strike when it sees a real threat. Those caught in the strike will suffer painful, at a minimum, financial repercussions. Read the interview carefully and understand the power of a focused government and the pain it can cause.

Douglas Jackson Interview 2012 e-Gold


  1. Obligatory comment: Bitcoin!

    1. To Anonymous @ 1:08 PM:

      I second the motion!

    2. A good article that addresses the attack on e-gold and how it may apply to bitcoin:

      The Coming Attack On Bitcoin And How To Survive It

  2. E-gold, E-bullion, GoldMoney, etc. These are exactly the kind of services we need for free-market money. It's frustrating that the State is so aggressive in protecting the banks' monopoly on currency.

  3. Yep. I'll stick with my physical commodities, thank you.

  4. For those of you that haven't seen it yet, my friend Doug Jackson was the subject of a lengthy WiReD article shortly after receiving his 'cool' new ankle bracelet.

  5. @Joseph,
    Physical commodities are good for Store of Value. Not so much for online payments. A system which makes gold and online cash freely and easily convertible would be the best IMHO.

    But it must be decentralized. That is the only way it can survive the attacks that are coming.