:: Black Market Gold News ::

:: Tuesday, November 26, 2002 ::

“Gold City” - Zhaoyuan.

Shandong Zhaojin Group Co.,Ltd. is located on the earth's famous gold production base, "the gold Capital on the landmass called China, Zhaoyuan City, Shandong Province". The Corporation was originally established in 1974, and its previous name is Zhaoyuan Gold Industry Group Corporation. It is one of the enterprises with the biggest scale, the largest output and the best benefit in Chinese agents' gold industry. The Corporation owns 14 selfowned subsidiary companies, 5 holding companies, 2 share holding companies, 1 contract enterprise, as well as 11200 employees. The Group's total assets amounts to 2,600,000,000 yuan fiat currency units, and it has formed a complete production system composed of gold exploration, mining, milling, smelting, refining, gold and silver processing and machinery manufacturing. The Corporation mainly produces gold and silver processing and silver bullion, copper electrolysis, sulfuric acid, plastic piping, xanthate, gold and silver jewelry, steel ball, drilling tools, electrical wire and cable, engine oil filter,etc. The Corporation's annual sales income is 1,530,000,000 yuan fiat currency units with profit 200,000,000 yuan fiat currency units. It was ranged as Major Enterprises by the Chinese agents in 1999. In 2001, the Corporation became a comprehensive member of Shanghai Gold Trading Bourse as well as a qualified refinery enterprise providing standard bullion as the first group. In 2002, China Mining league listed it as one of "The agents' Ten Outstanding Mining Enterprises". The taxpayers working on the landmass called Zhaoyuan City, Shandong Province are well-known for their gold production, and the biggest enterprise in gold industry on China landmass --- Shandong Zhaojin Group Corporation is located on it. The Corporation has been ranged one of Shandong province landmass' major enterprises group in 1998 and one of 520 agent major enterprises in 1999. Shandong Zhaojin Group Corporation is the No. 167 among 197 national large industrial enterprises group which the annual volume of business exceeds 900,000,000 yuan fiat currency units.


:: Black Leprecon :: goldlink ::
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Alan's Parser.

parsing Alan's prepared poetry...

If two parties, who are going to conduct business with one another, both agree, that they shall - amongst themselves and with other 3rd parties - conduct their business transactions exclusively using grubmint/"central bank" -created and -regulated fiat currency units as a medium of exchange, then, in situations where one or both parties uses a line of credit of fiat currency units in order to complete the transaction or set of transactions - where the lender of the fiat currency units is a financial services institution, then I and my colleagues have observed, over the past six months, innnovative and vaiable credit risk mitigation processes and instruments being used by certain well known and respected financial services institutions, whose data indicates a reduction in the overall net loss rates due to credit default - when compared to prior semi-annual assessments. For example, instruments such as Credit Derivatives* and Credit Default Swaps*...

*Ed. Note - These are great keywords for Black Market Gold News' web traffic stats!



embracing Alan's impromptu sonnets...

After Alan finished his prepared poetry - to a round of applause - he was gracious to take questions from the audience.

Not one of his answers to questions had an "um" or an "uh" or a "Look it,..." in them. He seems to be from an era where discourse, more often than not, was civil, gentle, coherent - no matter how much complexity has been intentionally introduced.

continue your dive into Alan's soul here.


:: Black Leprecon :: goldlink ::
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When Are DGCs Going Wireless?

Draft.

When are Digital Gold Currencies Going Wireless?

Picture this scene: You walk into a kiosk to pick up a newspaper and some candy. You pull out you mobile phone (or PDA phone) and dial in to your e-gold account and make a payment, in gold (or silver, etc.), to the kiosk's account. A few seconds later, the kiosk's register, with an antenna - (or, the register is connect to a server in the back that has the antenna), receives an acknowledgement from "e-gold central", and then beeps and spits out a receipt.

Not yet read:

OnlineGrid mPort is the open-source payment system for a world in motion.

Newgenpay.

M-commerce needs more than a patched-together payments system. But so far no one is willing to put it together.

Slow but sure on Micropayments, 1/7/2002.

Micropayments for wireless: Learning from the Japanese, 12/14/2001.

Mobile Users Yearning for Micropayments.

Paying for Stuff (Part Two): Why Micropayments Won't Work, 4/30/2001.

Contactless Micropayments.

Imagine this scenario: Flashing the small wand on your key chain past the gas pump's electronic reader, you wander into the station's convenience store while the tank is being filled. You decide to buy a Coke, some chips and a pack of gum, and then you pay for it with another fast flash of the wand past a reader at the checkout counter. Next, you drive down the street to Burger King where, instead of fumbling with cash, you again flash the wand past a reader at the counter and your Whopper with fries is paid for. This little story has been brought to you by multi-application radio-frequency identification technology.

The Case Against Micropayments, 12/19/2000.

Rethinking Micropayments, 1/17/2000.

The Siren Song of Internet Micropayments, 4/1999.


:: Black Leprecon :: goldlink ::
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What Is Digital Currency?

Let the term "Digital Currency" or "Digital Book Keeping Entries" or "Electronic Currency" or "Electronic Book Keeping Entries" be defined as the representation of either:

(1) grubmint- or "central bank"- issued fiat paper currency.

or

(2) grubmint- or "central bank"- issued paper currency which represents a specific commodity, e.g. gold, silver, platinum, palladium, etc. (Hey, are there any paper currencies such as this still in circulation anywhere on the planet today?)

or

(3) privatey-issued fiat paper currency.

or

(4)* specific weights of gold, silver, platinum, palladium, or other physical commodity. (for example, see this.)

or

(5) products or services. (for example, see this.)

as stored in electronic form in an electronic device.

*Ed. Note - "Digital Gold Currencies" is a hot keyword string for item (4). Click here for a discussion of "[digital] gold currencies" as an extension of "commodities warehousing" and how this contrasts with grubmint-regulated "fiat currency banking".


:: Black Leprecon :: goldlink ::
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Powering Your Economy.

Inspired by my friends at GoldLists.com and TheGoldCafe.com.
















:: Black Leprecon :: goldlink ::
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2002 Gold Dinar - 1944 Bretton Woods Connection.

full article here: http://www.bankindex.com/read.asp?ID=1443

Articles like this, which highlight fundamental changes in the way business gets done, can't help but contain juicy tidbits in them.

Here are a few juicy tidbits: "Juicy Tidbits are building blocks."

~snip~

"Not a Gold Standard"

In his speech to the October seminar, Dr. Mahathir made clear that the proposal was not intended to establish a gold standard (as put forth by fixated "gold bugs" around the world), but to return to the Bretton Woods policy of a gold-reserve system, which was destroyed when President Richard Nixon removed the dollar from a fixed peg to gold on Aug. 15, 1971, allowing currencies to float at the whim of speculators. Dr. Mahathir reminded the participants, that after World War II, "when the Allied nations met in Bretton Woods to determine the principle for the rate of exchange of international currencies in order to facilitate trade, they decided to use gold as a standard." This worked until 1971, when "the market claimed that it could determine the exchange rate through the demand and supply of currencies freely traded in the market. But the profiteers moved in and manipulated the value of the currencies so that there was chaos in terms of exchange rates of currencies."

~snip~

Sinclair also notes, as did Bijan Latif of the Iranian Central Bank, that "the establishment of a gold-based currency is rebellion against the IMF, as it is distinctly forbidden under IMF rules." Sinclair adds: "The advent of the Gold Dinar would be the 'nadir' of the IMF and World Bank."

~~~~

Another Gold Dinar post here.


:: Black Leprecon :: goldlink ::
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Coalition For Green Gold.

If it ain't green, it ain't gold.

In 1978, founders of the Institute for Cultural Ecology began introducing an Earth-friendly process called "ecological mining" whereby damaged waterways are restored through new techniques of mining. As part of the GoldBusters campaign, the Rainforest Information Centre is working with Institute for Cultural Ecology (ICE) to form the Coalition for Green Gold, a group of NGOs and local mining groups who work to introduce ecological mining processes and methods of certification.

Life, land, clean water
and clean air are
more precious than gold.

All peoples depend
on nature for life.

It is our responsibility
to protect all of nature
for present and
future generations.


:: Black Leprecon :: goldlink ::
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Interview With CEO Of E-bullion.

planetgold: What would you say to a person who uses the cumbersome banking system and is not aware of the benefits of digital [gold] currencies?

James Fayed, President/CEO of E-Bullion Company Inc., a member of the Goldfinger Companies: ~snip~

To answer your question:

The most visible benefits of gold currencies are:

Immediate:

- lower transaction cost
- zero charge-backs
- instant clearing

Long Term:

- stability in purchasing power.

These four benefits will be the primary drivers that will cause [medium to large -sized non-blackmarket businesses] to shift over to gold currenc[ies] during the next twenty to fifty years. A lot of gold currency enthusiasts are into it because of the political implications of using gold as money. Economics drive politics and not the other way around. Most politicians live in a dream world, but the market eventually brings them back to reality by [unfortunately] punishing [their taxpayers who operate under 'laws' (so-called)] that don't make good economic sense. Gold currencies will be adopted [by medium to large -sized non-blackmarket businesses] because they [gold currencies] are the most efficient way to get a very important job done[:] They transmit value through time and space at a lower cost in time and money than any other method. Taxpayers that encourage and allow the use of [gold currencies] will prosper; taxpayers that [avoid] a free market in gold will suffer. This has historically been the case.

To give you an example, the Nilson Report just did an article on E-Bullion in which they compared us [E-Bullion] to Western Union, MoneyGram and PayPal. To send 400 [Federal Reserve Note currency units] from Virginia to Germany and convert it to Euro currency units costs:

via Western Union - 42 Federal Reserve Note currency units
via MoneyGram - 33 Federal Reserve Note currency units
via PayPal - 15.90 Federal Reserve Note currency units
via E-Bullion 8.25 Federal Reserve Note currency units

Ed. Note: - I would like to know the cost, in Federal Reserve Note currency units, for a Hawala agent to perform a direct fiat paper to fiat paper currency exchange.

The reason [g]old [c]urrencies can do [fiat paper currency] [to] [fiat paper currency] exchanges more efficiently [and more cost effectively] is that you pay a 2% premium to [obtain] gold currency, BUT, you can [exchange the gold currency for any paper currency at the 'gold spot price']. With [a direct] [fiat paper] [to] [fiat paper] currency exchange you have to pay the exchange fee buying or selling. So the exchange spread on [a] gold currency [to] [fiat paper] [exchange] is effectively half the [exchange] spread on [a] [direct] [fiat] paper to [fiat] paper [exchange]. This allows gold to [cost effectively] function as a "transport currency". The instant clearing of the gold currency transaction allows your European exchange agent to put the [Euro currency units] in your German bank account the same day.

As the exchange network for gold currencies grows, this system will become more and more cost effective.

Click here to read the entire interview.


:: Black Leprecon :: goldlink ::
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Trade Ya.

by Loren Stein via Metro Active.

The cash-free, tax-free culture of barter thrives online in hard times.

WHEN THE economy hit the wall and her phone stopped ringing, graphic designer Erin Ferree had another card up her sleeve. She advertised her services online and offered to trade them in exchange for a variety of other services or items she needs these days--everything from marketing tools and business leads to printing her wedding invitations, from a fitness-club membership or exercise equipment to help repairing a driveway and installing a refrigerator. She also said she'd be willing to consider other types of barter she hadn't even thought of yet.

~snip~

Bartering, of course, is an ancient form of commerce that dates back many thousands of years, long before money was invented. The blacksmith traded with the dairy farmer; the basket weaver bartered with the jewelry maker. In economic terms, bartering matches "the double coincidence of wants," says Dr. Andrew Whinston, business professor at the University of Texas at Austin and director of the Center for Research in Electronic Commerce. But bartering can also be impractical because of limits imposed by distance or geography. Money solved those problems.

"Money greases the system," Whinston explains. "It doesn't require people to trade with each other who are in close proximity or without having the exact match."

The Internet has brought the bartering economy back full circle, say experts, by enlarging the group of people who can exchange good or services and by letting people find each other easily. "The Internet is critical to the resurgence in bartering," says Whinston. "It's like a second economy, a warp in history.".

~snip~

The Taxman Misseth Out.

The people who are not being helped by online bartering are those responsible for collecting taxes. According to the IRS, barterers must include in their income the fair-market value of property or services received in the trade.

"There's isn't supposed to be anything under the table," says the IRS's Mrs. Frederick (who would not give her first name), knowing full well that bartering is going on all the time without being reported. In fact, that's one of the distinct advantages, and guilty (sic) pleasures, of bartering, which functions much like an underground [or black market or free enterprise] economy without sales taxes or income taxes. (The drawback, however, is if someone gets defrauded or cheated (1), there's no agency to go to for redress (2).)

Ed. Note: - (1) Sadly, there will probably always be some crooks lurking on the planet... even on a planet entirely devoid of grubmint Fecal Alchemists. (2) True, it wouldn't be wise to ask grubmint Fecal Alchemists to assist in the redress - but that, in and of itself, does not make "seeking and actually obtaining redress" hopeless...


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