GoldMoney founder James Turk, editor of the Freemarket Gold & Money Report now tells us that gold could be headed higher.

More Records Are Ready to Fall

Gold ended the week and closed the month of September at $742.80. For the second week in a row, gold closed at the highest level since January 21st, 1980, which is the day it closed at the all-time record of $825.50. The closing price for September is a new record month-end high, as we can see on the following chart.

Read the full commentary and see the latest chart on the GoldMoney web site here…

GoldMoney is a very popular digital gold currency and an excellent way to store financial value online. As of September 2007 GoldMoney had over US$214 million of gold & silver in circulation.  If you need a safe and easy way to buy gold online, this is it!

Is This Proactive Move By e-gold Having The Desired Effect?

Yes! ‘Investment web site’ operators and promoters are moving OUT of e-gold and into other offshore digital currencies.

Look around and you will find dozens of posts like these from the HYIP promotional webs, known as monitors. These two posts are from the Talkgold forums:

• “…I can’t operate as a monitor - can’t receive payouts or make reinvestments because of that block. May be it is time for all to stop use Egold and find another stable processor!”
• “How do I run a monitor site if account is blocked. I can’t make payment and get payouts from anyone”

All of these also from the Talkgold forums - “…tg is one of the top hyip forums in this arena.”

• “…its time to use a good alternate! what do you think about c-gold?”*talkgold
• “…Maybe all HYIPs should start using Pecunix or any other stable service?” *talkgold
• “…what do you think about Alertpay!” *talkgold
• “…It’s time for HYIP-admins to adapt their scripts and replace e-gold to other more reliable currencies. I can live without e-gold, e-gold can’t live without us.” *talkgold
• “I think we must use another e-currency”*talkgold - This comment from HYIPs.ir touted as the “Greatest HYIP monitor in Middle east with 14 language”
• “Looks like another e-currency will have to emerge.” *Comment by the Talkgold administrator

After reading the Talkgold forums, I’m reminded of how cockroaches run for cover at night when the kitchen light comes on!

Read more

It now appears that Dr. Jackson and the team over at e-gold Ltd. are making some bold due diligence moves in order to stop their digital gold currency from being used by HYIPs, Ponzi scams and AutoSurf programs.

These preventative measure will certainly not create an easy road ahead for the e-gold administration and their previous ponzi customers and I can’t image the mountain of paperwork now being created, but e-gold’s new actions seem to be exiting the HYIPs and driving them away from e-gold.

Three cheers for e-gold!

The e-gold tool being used in this crack down is termed the ‘value limited account’. Also known as a ‘blocked account’, it is quickly becoming the Ponzi’s worst enemy.

What does it mean when your e-gold account gets a value limit? Here is what might show up in your email:

“Your account has been blocked under our Rights of Association clause in the account user agreement.”

e-gold Account User Agreement: 4.6. Right of Association - Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion, with or without cause.

Unless the problem is corrected, a value limited account is 100% useless for any future business. Blocked accounts cannot accept any incoming funds. Read more

Silver Summit 2007 is a global conference focused on all aspects of silver investment held annually by the Silver Valley Mining Association in northern Idaho

This year there is an all-star cast of presenters for the Sept. 20-24 event. Get ready for two days of serious conferencing in the lakeside resort town of Coeur d’Alene, followed by a casual weekend of fun in historic Wallace, Idaho often called the Silver Capitol of the World. Planned events even include mine tours.

Now in its 5th year, more than 40 metals related companies including CEOs of the world’s premiere silver producers will attend this year’s conference plus about 800 investors will be on hand to meet and great.

Featured speakers include John Embry of Sprott Asset Management, Bill Murphy of the Gold Anti-Trust Action Committee, James Turk of GoldMoney, Jason Hommel of Silver Stock Report, Jeffrey Christian of metals analysts CPM Group, Hecla CEO Phil Baker and Pan-American CEO Ross Beaty, analysts, including Jason Hommel, Bernard von NotHaus, and speakers on the cutting-edge medicinal and consumer uses of silver. Over 40 producers will be represented in an informal, get-to-know-the CEO setting. award-winning author David Bensimons, David Morgan of the Morgan Report, Peter Spina of GoldSeek, Richard “Mogambo Guru” Daughty, and Earl Bennett, Dean Emeritus of the Idaho College of Mines.

Preregistration is required due to the conference’s limited space. Anyone can sing up by visiting Silver Summit’s website at www.thesilversummit.com, or by telephoning the Silver Valley Mining Association at +1.208.556.1621. Admission is just $25 per person.

Concurrent with Silver Summit’s 2007 dates of 20-21 September at the Coeur d’Alene Inn/Best Western in Coeur d’Alene, Idaho, will be the annual Center of the Universe celebration in Wallace the weekend of 22-23 September. Mine tours are being arranged on an individual basis for interested investors on Wednesday, Sept. 19.

The Liberty Dollar, which is the company currently suing the Federal Government, recently came out with the Ron Paul commemorative disk. (shown below)

This piece featuring a bust of Ron Paul and is exactly like all of the other silver and gold Liberty Dollars, its beautiful. Their mint manages to create some beautifully crafted precious metal and I’d love to have one of these.

While I don’t worship at the alter of Ron Paul like some of my friends, because of his favorable position on precious metal backed money and smaller government I have followed his politics for more than a few years. From the recent televised Presidential debates, it has been nice to have gotten to know a little more about Mr. Paul.

Lately, even the media seems to be taking an interest in what is ‘behind’ all that paper money the US issues. Today, the New York Times had an article entitled “Ron Paul Gains New Currency”. From that piece,

“Paul’s campaign spokesman Jesse Benton says his boss supports “legalized competition between Federal Reserve notes and other specie currency” by allowing people to pay for goods and services with gold or silver.”

Silver backed physical currency seems to be making a big come back. A recent DigitalMoneyWorld interview with Gordon Hayes, creator of the silver backed Phoenix Dollar produced some of the highest traffic days on the blog we’ve seen this year.

Is America again ready for real money backed by silver or gold?

(Q) If you had 10 minutes of face to face discussion time with each of your customers, what is the one single idea you would try to teach each one of them about freedom?

(A) hmm, that is a really good question and one that is not easily answered. I don’t believe that ALL customers can be fit into a mold that would relate to something I could convey to them in some generic sense of things. I think freedom is something best left to each individual to determine for themselves. If I could present just one idea, then I guess it would be that.

(Q) Is there an advantage to shopping for one ounce silver bars from your web site, over visiting a local coins shop and buying from them?

(A) I think local dealers have a market that works well and is useful. Our aim is to supply silver bullion products to that market. If you have a local coin shop that also sells bullion then it would be useful to show them our products when you shop there. When a dealer places a large order they can convey the savings on shipping to their customers.

(Q) Are you operating as a Money Service Business? Do you hold any other Federal or State regulatory licenses which permit you to operate?

(A) We are not operating as a money services business as silver is not money according to the law today. Nevertheless, we do understand that the digital silver currency can be used by criminals to further criminal activity if left unchecked, so we have implemented a full anti money laundering program, a customer verification program, employee training and customer education program that serves to keep our system free from fraud. The results of this is thousands of clients and zero fraud. We also do possess a MSB license from the jurisdiction of the USA even though our company is based in Panama. We feel a good anti money laundering program and more importantly a strong anti fraud and anti crime policy is essential to our success and essential to the security of our client’s silver. Our terms of service policy explains all this in greater detail.

(Q) I know that I can buy digital Silver online from at least one other company, GoldMoney, what advantages does the Phoenix Dollar offer over James Turk’s digital product?

(A) James is a wise businessman. His product has its place in the market and is valuable even to our customers. That being said, it has absolutely no resemblance to our product offering. Our focus is on actually holding real silver in your hand where it belongs. We enable the average person, even if not rich, to hold silver in their hand even after someone sends it to you in digital form. This is something that is impossible in other systems.

(Q) Do you ship overseas?

(A) Yes, we ship all over the world to all but a few countries found on the sanctions lists.

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The Phoenix Dollar was created in late 2005. The company is a silver bullion retailer offering their own brand of pure silver bars, disks and even digital silver holdings which is 100% backed by bars in a secure vault.

These accounts are free to open and the Phoenix Dollar community offers some exciting advantages and tools to those who would use the digital silver for online commerce. The digital silver is transferable between anyone operating a Phoenix Dollar Holding and there are several popular independent exchange providers who can assist you with a secondary market transaction. The digital product is exchangeable with other digital currency such as Pecunix.

Any user can easily have their silver balance (as little as one ounce) delivered right to their front door for just a few dollars over the spot price. The physical silver one ounce disks and bars are very beautiful and I happen to own several.

The bars and disks can be used as payment between any person as a method of barter. While some of these items may look like money, its important to note that The Phoenix Silver Bullion Products are NOT “legal tender” and NOT “current money” nor are they endorsed by any sovereign government, country, city or state. While the designs are great, both the silver and paper designs do not look like government issued currency. Paper designs? Yes, the company is soon offering SilverBacks® which is a series of Authentic Paper Silver Certificates. More on that below.

Today I’m interviewing Gordon Hayes designer, creator and operator of the The Phoenix Dollar.

(Q) Can you tell us your current position with the Phoenix Dollar company and how long has it been operating?

(A) I am the President. We opened to the public in October of 2005. The concept was in development for a couple years before that.

(Q) Who came up with the design for the silver bullion products? How about those new silver certificates?

(A) I have two very special artists that I collaborate with who shall remain nameless for security reasons. I create the concepts and they come up with the artwork for them. Sometimes I am able to pick a piece out of their extensive portfolio for certain things and apply them to the silver without any modifications. Having a high caliber art team has enabled us to exceed in designing silver pieces that never fail to win people over for their sheer beauty.

(Q) Out of all the successful businesses you have been involved with over the years, why did you create the Phoenix Dollar? What were your reasons for coming out with a private barter currency backed by silver?

(A) The world simply needs to know that what I am doing is possible. My ultimate goal is to create a currency that actually improves the lives of its owners. This would take a bit of explaining to get across properly, but to summarize, today we have a world that contains all sorts of fiat currencies. Not a single one of them have any real value except that which is derived from the end of a gun. I set out to build a currency that actually protects the wealth of its users, that improves how people interact and do business with one another and that creates more freedom and success in the world. This is the sort of philosophical background information that is not really necessary to know when using the currency. The results of using it speak in subtle ways.

(Q) I have seen the pictures of your new SilverBacks® paper silver certificates which are now on the way. What do these certificates offer users that the bars and disks don’t already provide?

(A) This product conflicts with my personal beliefs to some extent, but its main benefits are that you can carry it in your pocket in quantity without being weighted down so much that you cannot walk. Silver bullion is very heavy and cannot easily be transported in quantity. The SilverBacks® address that problem thus enabling the currency to gain more use in the everyday over the counter market. I expect this product line to be a curiosity in the market for some time, but I am doing it anyway, just in case things rapidly change.

(Q) Your bullion products look fantastic.

(A) Thank you.

Read more

These new Phoenix Dollar® Paper Silver Certificates are called SilverBacks®.

Today the company released a preview of the certificates’ artwork showing the upcoming release of a private paper currency backed 100% by silver bullion .999 fine. The seven certificate series is called ‘The Seven Great Ancient Wonders of the World’. Each denomination depicts one of the seven great ancient wonders and proudly displays them on the front and back of each certificate.

The Phoenix Dollar website is owned and operated by Phoenix Silver International, S.A. which is a debt-free, for-profit corporation domiciled in Panama. SilverBacks® are paper warehouse receipts backed by silver bullion. The pictured samples circulating now on the Internet only show about 90% of the certificate. Not visible are the security features and holographic work that will be part of the finished certificates. The first release will be a collectible limited edition set containing one of each certificate framed and displayed for collectors (but not meant for circulation). The entire series will be released into circulation sometime in 2008.

The Phoenix Dollar is a silver bullion retailer with its own brand of silver bullion products in the form of bars, disks and digital silver backed by 100 oz silver bars stored in a secure vault. The Phoenix is first and foremost a a community of wonderful, highly motivated people who have come together from all over the world to improve their lives, preserve their wealth and purchasing power, and meet new and interesting people while learning about silver.

One very exciting feature of the Phoenix Dollar is called ‘redemption’. Redemption means you can exchange your digital silver (Phoenix Dollars) for physical bullion and they ship it right to your door. The Phoenix Dollar was designed to allow any member, large or small, access to their physical silver. The basic redemption feature requires shipping of 100 oz bars and some special terms apply but smaller users can also have their silver shipped to their home or business and here is how. Members with a balance below 100 troy ounces, simply use their shopping cart for checkout and buy available 1 ounce pure silver bars or ‘discs’ which some would might round bars (but NOT coins).

You can purchase silver directly from the Phoenix Dollar by using any of the following options:

• Cash - USD, EUR, CAD and NZD
• MoneyGram
• Money Orders
• Direct Deposit
• Bank Wire
• MoneyBookers
• Third party exchange agent

Phoenix Dollars are NOT “legal tender” and NOT “current money” nor endorsed by any sovereign government, country, city or state. The silver bullion designs are very unique to the market so as not to confuse people who could potentially mistake our silver for legal tender. The Phoenix Dollar is not associated with the city of Phoenix, Arizona.
phoenix dollar silver

Reprinted from 04/05/2007 on the BullionVault web site.

DID YOU SEE that the US Department of Justice indicted on-line firm e-Gold on charges of money laundering, conspiracy and operating an un-licensed money transmitting business?

The US government claims e-gold’s easy-to-use private transaction service makes it easier for criminals to launder money. For good measure, the Feds added that a digital payments system in gold would be favored by terrorists, child pornographers, and other real or imagined enemies of the nation-state and civil society.

Did it occur to the Feds that maybe people want to use gold as money because they have no confidence in the fraudulent, counterfeit product currently printed by the US Treasury?

Governments fear gold because it competes with their own paper currency as a viable and preferred means of exchange AND a store of value. So, under the guise that only people with something to hide would use a digital payment system backed by gold, the US government is hoping to obscure what the very existence of a company like e-gold signals: a growing lack of trust in the money of the American government.

The huge bull market in resources and resource stocks is also a sign of U.S. dollar diversification. Investors and foreign governments are storing (and hoarding) their wealth in more tangible sources of value rather than US currency or bonds. If anything, the Department of Justice’s attack on e-gold is a sign that officials in Washington are getting nervous.

They don’t want any competition for the dollar. They have lawyers and jails and are willing to use both.

Incidentally, we asked a lawyer friend of ours who works for the Department of Justice what he thought of this case. Off the record he wrote:

“I wonder how, with all that anonymity [in the creation of e-gold accounts] the government will show that the company knew that they were receiving money from these illicit sources. This is the crux of the case. Knowingly receiving stolen property is a crime and having any involvement with kiddie porn is probably enough for a jury to convict anyone, but I would venture a guess that every bank in the world, without exception, possesses proceeds from criminal gains. However, most depositors don’t inform the teller where the deposited money came from.”

The US government has ruined American money. It is the biggest fraudster of them all. People are seeking alternatives like e-gold to protect themselves from the government’s monopolistic debasement of the currency. Trying to make alternatives to that money illegal or criminal doesn’t change the fact that the money is suspect. It just alerts the public that something is horribly wrong with America’s currency.

This is good for gold, if you can keep it.

Dan Denning, 04 May ‘07

Formerly editor of Strategic Investment with Lord William Rees-Mogg, Dan Denning is an independent investment analyst now based in Melbourne, from where he edits the Australian edition of The Daily Reckoning. He is also author of the best-selling The Bull Hunter (Wiley & Sons).

e-gold webmoney egold pecunix 1mdc

This is an update direct from Bernard von NotHaus of the Liberty Dollar.

You will note the unusual statement in the last paragraph which points out, its legal to own but the Liberty Dollar’s use in everyday transactions is ‘in contention’. I’ve written about the Liberty Dollar before and it is a very interesting topic to follow as there are a reported 20 million dollars of these in circulation and growing. Also, in the United States there are dozens of other private currencies in use. Private currency is a concept which may be catching on big if the US economy continues to tank and the dollar deflates further. The Liberty Dollar is also electronic.

Saturday April 14, 2007

The US government has been served and we have our first firm date. The government must reply by May 25, as they have 60 days from date of service.

Immediately following the government’s reply, which we anticipate will be a denial, the judge will call a Scheduling Hearing with the opposing attorneys and layout the schedule for discovery, briefs, orals, with his decision to follow. Given that each of these four steps will take 30 days, plus the two months the government has to reply, means we will not have a decision until September 25. It is also given that the judge will take 30 days to render his decision. This is just over a year since the US Mint posted their warning on September 13th and just a week shy of our 9th Anniversary on October 1. Interesting timing.

Of course, another six months is a hell of a long time for the Liberty Dollar to hold its breath. As you are probably aware, we are struggling against less demand for Liberty Dollars and more legal expenses.

SO PLEASE READ THIS IMPORTANT NOTE: The US Mint has acknowledged that the Liberty Dollar is LEGAL. Director of the Mint Moy even acknowledged that the paper Silver Certificate was not illegal in a letter to a Senator! It is only the USE of the Liberty Dollar that is in contention. There is NO HARM in owning Liberty Dollars. There is nothing to fear. You are NOT going to be arrested.

Rumor also has it that the Liberty Dollar is creating a new ATM debit card for users, the Liberty Gold Card also is looking for beta testers.