Tag Archives: Interviews

Interview with Robert from Commerce Gold (c-gold)

c-gold logo

Digital Money World‘s newest author, Benson, has done us a great favor and gone and ahead and conducted an interview with the Robert, the CEO of Commerce Gold (c-gold). C-gold is the newest kid on the e-currency block so it is most definitely interesting to see it grow and flourish as well as it has. So without further ado, here is the interview. Enjoy!

B: Hi Robert, thank you for taking your time for this interview with us at DigitalMoneyWorld.

R: My pleasure.

B: First of all, tell us more about c-Gold. Are there any objectives in the first place for establishing this Digital Gold Currency?

R: Well, I could use up the entire blog for weeks explaining why Commerce Gold will change the world, but let me just say that I have been managing ventures of the CyberFrontier Group for over a decade, and when we entered this industry, it was because foreign Internet merchants had difficulties to pay for our services (application development initially, then we added hosting, domains, website design, and ultimately our own e-commerce platform, etc.), and worse, had difficulties to accept payments for things they offered over the Internet themselves.

At the time, with the dot-com boom heading for its peak, e-gold.com made an awful lot of sense for many newcomers abroad. Then came the bust, and the industry saw it through and continued to grow, which led me to realign our ventures to focus on digital gold customers.
This was in 2001. I then waited for years for the industry to develop new dynamics and take steps towards fulfilling its immense potential. But it simply didn’t.

Two years ago, after CyberFrontier was well enough established in the industry, I tried to contribute towards that goal by launching the CyberGoldBank project, which was meant to add value to the industry as a whole. Things went well during the pilot phase, but with 1mdc’s accounts being confiscated, the PVCSE closing its doors and e-gold essentially falling out of favor in South-east Asia, I realized that we had to go back to basics. That is when CyberFrontier, which was always a loose-knit group of companies, partners and associates, teamed up with industry professionals and put together Commerce Gold.

In other words, Commerce Gold, and thus the online platform at c-gold.com, is the attempt to rebuild the industry on a more solid foundation, with having mainstream acceptance as its clear aim and goal.

B: Could you let us know how many users are registered and how many active users are there in C-gold now?

R: We had just over 6,000 accounts when you asked the question last week, and are close to 7,000 now. 2,000 of these are active in the sense that they have used their accounts for transactions.

B: How many staffs are there supporting your business?

The Commerce Gold concept takes its cues from the successes of the CyberFrontier system. That is to say, we keep overheads low, employ only as few as we can get away with, and use associates, franchisees and independent contractors wherever possible.

In the traditional sense Commerce Gold would probably be seen to have zero employees. However, there are currently five people actively contributing under a number of outsourcing deal, and we expect that it will be twelve to fifteen by year’s end. By then we might even have a formal employee or two, as well.

B: How much gold is circulating in c-Gold right now?

R: As of today, there are 1,200 ounces in circulation, roughly 37,500 grams.

B: How safe is our money in c-Gold?

R: In one of 12. – Seriously, the gold is spread over several of 12 different safes and only two people know in which of the 12 it is.

Malaysia, especially Penang is a pretty safe place by global standards, and the insurance people considered our safety measures and security systems “state of the art”. So, your GOLD is probably safer at Commerce Gold than it would be in your own pocket.

We also have detailed expansion plans, will continue to add security feature,s and as soon as volume warrants it, apply for a security license that allows us to hire and train our own armed security personnel.

B: Why Malaysia? What sort of license do you apply for in Malaysia? Will there be any risk of our funds being confiscated like how the Feds did to e-Gold in the United States?

R: That’s three questions. Firstly, Malaysia is a nice place with friendly people, decent people in government, and quite low cost of living – especially in Penang – by global standards.

Further, because Malaysia is smack in the Middle between three economic power houses of the future, India, Southeast Asia and China, has splendid relations with everyone, and a plausible development strategy. Add to that pretty good infrastructure, a long standing tradition as a trading nation and the blessings of a multi-ethnic, multi-cultured population, and Malaysia becomes clearly a good choice for a venture like ours.

As the Malaysian company stores the gold and provides customer service to c-gold.com users and nothing else (specifically, it doesn’t retail gold, doesn’t handle cash, doesn’t buy or sell or exchange anything), a general trading license is sufficient. Even if the Malaysian company did trade in gold, no license would be required as the local government deregulated the market and abolished licensing altogether.

But, as I said, the Malaysian company doesn’t buy or sell or exchange, and is registered as an outsourcing company that specializes in arbitrage, back office and customer service.

You see, Commerce Gold is another project of Private Gold Equities Exchange Limited, a Mahe, Seychelles company, which itself is owned by several shareholders that are not part of the industry and who gave us valuable outsider perspectives when planning this project.

Ultimately Commerce Gold will be incorporated as an independent venture with view to a public listing in Malaysia, Singapore – or both – by 2010. Of course, if recent growth is anything to go by, then this will probably happen much earlier, but 2010 is in the business plan and contacts to Singapore regulators and licensing bodies as well as to the National Bank in Malaysia have been made, to work towards that goal.

As to the risk of confiscation, I’m not sure I understand the question correctly. Obviously there should be no risk of confiscation by US authorities as they have no jurisdiction over the Seychelles, nor over Malaysia or Singapore for that matter. However, if there were legal grounds and court orders demanding that Commerce Gold hand over specific assets the Malaysian company stores for c-gold.com users, then Commerce Gold would probably instruct the Malaysian company to comply by those orders, depending on the case in question and which court the orders were made at.

Maybe this is a good time to mention that one of the shareholders of PG2E Limited is partially owned by a constitutional lawyer that used to teach at Harvard.

B: Do you allow HYIPs to use your DGC?

R: The answer to this very general question would be a qualified “Yes”. We don’t allow ponzis or frauds, but as we can’t really police the activities of all users, we have to rely on users to point out bad apples, so to say. Generally, we won’t play judge and jury until there is a valid complaint.

That said, users are bound by our Terms of Service and the User Agreement, and are therefore obliged to ensure that their activities are lawful not only in their own jurisdiction, but also in those of their users.

So, if someone wants to put together a group that invests in her projects and if those projects are legal in his or her jurisdiction of residence, and if the risks are clearly outlined, then we don’t have any problem with that. On the other hand, if someone just says send me $ now and I’ll send you more tomorrow, then we’ll shut him down in a hurry.

B: Are there actions taken against suspected accounts that deals with HYIPs?

R: You mean in the sense that action might be taken against investors that put money into HYIPs?

No, most certainly not. It is their gold and we won’t tell them what to do with it. We DO however warn users every chance we get, not to believe the unlikely, or deal with operators that promise the improbable. If they then decide to ignore reason, suspend better judgment and throw their gold at a likely trickster, then they probably can’t be helped.

On the other side of the coin there are plenty of great opportunities in the Third World, and we definitely want to support budding entrepreneurs and allow them to search for investors for their projects and ventures. The principal of Grameen Bank in Bangladesh who popularized the micro loan concept there, won a Nobel prize, I think.
So, it is up to the user to figure out the difference between a HYIP that is essentially a ponzi scheme, and those that are feasible, possible and probable. We are not investment advisors, and it’s not our job to tell people what to do with their own gold.

B: How anonymous are our transactions?

R: On the surface, completely. We don’t even disclose where we store the hard copies of the compliance documents.

But Commerce Gold is a closed book entry system, so we can trace every speck of gold from when it enters the system all the way to when it leaves again, and as users are required to comply by our KYC policies, there is not much anonymity once we start looking at any particular user – usually because that user gives us a reason for doing so. Until that time however, we respect and protect our users’ privacy, and only analyze overall transaction patterns in the system.

This is by the way how we picked up on a hacker that had penetrated a merchant web site and changed the code there, redirecting payments to his own account. When the volume exceeded 200g the flag went up because the account wasn’t verified, and when gold moved on to exchangers in rapid succession we contacted them and requested that they hold the gold until the account was verified. As no compliance documents were forthcoming, we then shut down the hacker’s account and are now working with online currency operators to track him or her down.

B: I don’t really see many merchants listed with c-Gold now, but the exchanger’s list is impressive with many reputable ones. Is there any reason to this?

R: It is the chicken-and-egg problem, really. Merchants follow the gold, and customers follow the merchants. Our priority was to attract large and reputable exchangers first, and begin promoting to merchants second. This will start during this month.

Of course, it was also easy to get the exchangers on board, considering that most of them had, and many still have, dealings with CyberFrontier and so know some of the people who are working for Commerce Gold. Having been in this industry for almost a decade goes a long way, apparently.

B: What do merchants have to do to use C Gold’s Click To Pay gateway? Do they have to register? What sort of fees are we talking about?

R: Anyone can use the click-to-pay gateway. There are no special registration requirements and no fees involved. Of course, they do have to comply by our KYC and AML procedures and policies, but aside from that, there are no other requirements.

B: Why should anyone be using c-Gold instead of any other digital form of currency?

R: Because Commerce Gold is avoiding the mistakes other currencies made, and is probably the first ever operator that looks to the market to see what people want, rather than telling them what to use. This is at the root of our offline Commerce Gold shops concept, and we will probably see franchises open in the UK, France, Switzerland and Hong Kong, this year. Germany and Dubai are also on the table and we are looking for partners elsewhere.

Furthermore, the almost (no really) completed multi-lingual platform will see the launching of German, Dutch and French interfaces in the coming weeks, with Russian and Mandarin not too far behind. Why would anyone want to limit his prospects to the English-speaking crowd, when Commerce Gold will present them the better part of the online world during 2008 and early 2009 as potential market?

And that doesn’t even account for our development plans of MobileGold and GoldBeam yet, which may well be what the industry needs to find main stream acceptance amongst the younger generation, especially in Asia.

B: Interesting new products in the line huh! ;) Now how regular are audits being done for the gold storage, accounts and circulation of c-Gold?

R: The Malaysian company is obliged to file audited accounts every year, and the CPA already declared that he will have to inspect the bars in storage on that occasion, as well. Other than that, we actually publish the particulars of each bar we store, and are considering to make the purchase certificates for all of them available to users, as well.

As Commerce Gold differs from other providers in the sense that we actually buy physical bars and have the Malaysian company store them, I don’t feel that any additional audits would be required.

If users on the other hand demand it, we’d be happy for them to nominate someone (or more) who could drop by any time and inspect the bars themselves.

B: I’d volunteer when I go to Malaysia for a visit! We’ve seen the problems that is being faced by e-Gold now with the Feds and Liberty Dollars with the FBI, do you think e-Gold and Liberty Dollars can pull through the ordeal?

R: I have to admit that I am very surprised about what has happened, and even more so about the way the US authorities are handling those cases. However, they seem to believe to have actual cases against the defendants, and the cases are being heard in court. So I can’t really say much about the fairness – or lack thereof – as I see it, until the courts make their rulings. That aside, I do think that the fact that the US authorities are applying forfeiture rules against the principals in those cases stinks to the high heavens.

If the authorities believe that the defendant companies were engaged in unlawful activities – or benefited from unlawful activities – then they should make their case, and if found guilty seek redress. Taking the private property of the principals without having proven anything as ye,t is not what a foreigner expects from American authorities who preach human rights, democracy and the rule of law to everyone abroad.

As to the cases themselves, I think OmniPay should win its case, if not now, then on appeal, based on the information that is available online. I never dealt with NORFED / LibertyDollar, even though I opened an account with them early on, so I can’t really say much about that particular case.

B: Are we expecting anything new or exciting in this coming 2008 from C-gold?

R: As I said, we’ll launch several language platforms throughout the year, expect to open at least five franchise locations, and maybe even show some test applications of MobileGold.

And, based on the feedback of c-gold.com users, we’ll continue having the best customer support in the industry by far – their words, not mine.

B: What do you think about DigitalMoneyWorld?

R: Many misunderstandings about this industry are founded on misinformation or plain lack of information. Sites like DigitalMoneyWorld can help to overcome this, which is of course a good thing.

Have a happy 2008 

I wished all colleagues a Prosperous and Uneventful Year 2008, so I guess I’ll wish your readers that they’ll get the best of what they wish for.

B: Thank you for your time Robert, it’s been a real pleasure interviewing you ;)

Marc Faber on the dollar, gold, and the US economy

Here is an interesting interview with market guru Mark Faber. Mr. Faber is definitely bullish on gold and bearish on the dollar. Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude.

The interview was conducted 9/17/2007

Part 1:

[youtube 53H6LVZCYk0]

Part 2:

[youtube 15QcXSI_U_g]

Interview With Free Market Money Guru Jim Davidson of Vertoro

Jim Davidson of Vertoro

Those of you who don’t subscribe to or visit Mark Herpel’s Digital Money World Blog should really check out this four part interview he conducted with the CEO of Vertoro, Jim Davidson. For those of you who aren’t familiar with the e-currency industry, Vertoro happens to be a popular e-currency exchanger, or “market maker” as such businesses are often called. Mark’s interview comes in four parts so I’ve taken the liberty of linking to all four parts for your convenience (each link opens in a new windows).

Interview With Jim Davidson of Vertoro – 1 of 4

Interview With Jim Davidson of Vertoro – 2 of 4

Interview With Jim Davidson of Vertoro – 3 of 4

Interview With Jim Davidson of Vertoro – 4 of 4

Interview with Sean Trainor of Crowne Gold

Once again kudos should go out to Mark from Digital Money World (he also runs Digital Gold Currency Blog) for pointing out to me this somewhat old interview (2002) with Sean Trainor, of Crowne Gold. The original interview was conducted Ragnar Danneskjold of PlanetGold.com. I regret to inform you that it appears that PlanetGold.com is no longer operational, but thanks to the marvelous archive.org website I am able to bring you this interview in full. So, as I am a man of few – but well chosen – words I shall now commence with the copy + paste. Enjoy!

planetgold: Welcome, Sean.

Sean: Thanks for the opportunity.

planetgold: Please tell us about yourself

Sean: I am a family man; my beautiful wife and I have been partners for many years. We have two young sons, Evan and Owen who are both gold bugs. My wife and I are from a small community in Ohio. Tired of the winters, we migrated south to Florida some 13 years ago where we live in a residential marina community and spend a good deal of time utilizing the wonderful attributes this area provides.

The desire to seek out entrepreneurial opportunities has been with me most of my life. During the 80’s I became involved in a wonderful marketing project where I enjoyed a great deal of success. I was fortunate to meet some truly positive people who shared their considerable insight and knowledge. I was involved in developing the bottled water industry from its infancy to its tipping point, and then some. After 6 successful years I began to investigate additional opportunities to which I might apply my newfound knowledge.

My research led me into the telecom industry. Once again, after considerable effort, and numerous trials and errors, I was fortunate to develop special relationships with others such that we did very well. At the peak of the Alternate Operator service industry, my company was able to help payphone providers, hoteliers, hospitals and universities manage these types of calls, while providing state of the art access to the pertinent data they needed to be financially successful in their telecom service.

the tax code is completely out of control

Eventually, my growing prosperity forced me to learn more about money and the effects it has on a person, a business, and the government. It has amazed me all along that people spend more time researching a new car, truck or clothes, than they do the government agencies that regulate their lives. Because of the telecommunications business I was forced to work with the FCC and numerous other regulatory agencies, which left me somewhat jaded. I was to discover that our firm had paid a lot more to the IRS than needed, simply because of legislative complexity, and the lack of familiarity by professionals regarding the court renderings that ultimately interpret specific legislation and federal rulings. For example, you can go to three tax accountants and get three different answers regarding a whole host of tax issues. This situation exists because the tax code is completely out of control and no one can know or understand it all.

Three years ago I spent more time educating myself on government regulations and taxes than I did running my business. Eventually I came to the conclusion that the U.S. government has circumvented the Bill of Rights with regulatory agencies. Many of these agencies rob businesses of profits while providing little to no benefit other than to proliferate more regulations. It became clear to me that the telecom industry for the smaller player was about to be destroyed by meddling bureaucrats and the future looked grim indeed. So I took all of this into account as I began to look for a new business. Once again I got lucky and moved out ahead of the curve having preserved most of my wealth while adding to my knowledge base.

planetgold: How did you get involved in digitized gold?

Sean: Two years ago, I was meeting with an accountant when he informed me of a luncheon meeting I might want to attend; I agreed. Little did I know that this meeting would set me on a course that would literally change my life. Bernard von NotHaus, a visionary fellow who frequently refers to himself as a Monetary Architect, was the main speaker.

As l was to quickly discover, Bernard’s company was making their own money. Now I don’t know how the rest of the folks in the digital currency industry cut their teeth, but my jaw was on the table when Bernard said it was legal to make your own money. NORFED is a non-profit company he had formed; it is based on a particular political agenda in common with my thoughts and feelings. NORFED stands for the National Organization for the Repeal of the Federal Reserve act and the Internal Revenue Code.

Immediately thereafter I began researching the concepts of private money, working feverishly to get a grip on what might be available. Much of what I learned was quite positive and, frankly, surprised me. My own personal take was hey, if Federal Express and UPS can reform the Postal service, why couldn’t private industry have a significant impact on the Federal Reserve? However, my first serious question was how could we digitize gold and silver and make it both safe and convenient to use. Bernard introduced me to 3PSecure.com. They had a product called 3PGold. I wanted in.

planetgold: So what happened next?

the empire is the competition

Sean:I spent the next year learning about 3P Gold and both the history and concepts of private money. Needless to say the learning curve has been as sharp and tall as the empire state building. It has to be, as the empire is the competition. Of course, I have learned something about other digital monetary systems, but for the most part my analysis developed as a consequence of my own research.

During this period I met a man who has been a mentor to me for several years as a result of his books and newsletters. While at a seminar in Nevada I had the opportunity to meet him face to face. Well as it turned out he has a strong passion regarding alternative currencies and considerable depth and background on the subject. He introduced me to others who were quietly assembling a private money team with incredible credentials. It seemed a perfect match.

During this same time things were not going well for 3P Gold. Thankfully client accounts were safe and every single grain of gold was right where it was supposed to be in a contracted vault subject to external audit every month. But, the company could simply not build a future from the slim margins in the business and it became apparent that others needed to assume control.

planetgold: Tell us about the merger of 3P Gold and Crowne Gold.

Sean:On March 4, 2002, 3PSecure was taken over by Crowne Gold. Crowne Gold is the result of a merger between two leading-edge private money advocate firms. The company is comprised of a number of international shareholders, the larger ones of which include significant financial planning and investment consortiums, an international bank, an insurance company, licensed trust companies and one of the world’s largest corporate formation and management firms.

planetgold: So what is your role in the new company?

Sean: Although I am not an official officer or director as these terms are interpreted in a legal sense, I have been contracted as Director of Marketing for Crowne Gold, and I love it. What an awesome opportunity! This is truly an exciting business. Simply knowing that you are involved in an industry that may ultimately shift control of the monetary system to the people who use it, rather than be continually manipulated by those in control of the international banking cabal is heady stuff. This is truly a very big idea that admittedly keeps me up at night.

I feel like a race-horse forced to hold still in its stall

Right now I feel like a race-horse forced to hold still in its stall, just waiting to get out and run. The principals of Crowne are a conservative lot and they are insisting that various internal objectives are achieved before letting loose with a serious marketing program. The team behind Crowne Gold has been diligently developing a solid base of operations before the system is aggressively promoted.

planetgold: How might this change the current monetary system of the Federal Reserve and World Bank?

Sean: Ragnar, this is a profound period in man’s history. Never before have individuals possessed tools like the computer and the Internet. Choices now abound. The Internet, coupled with payment systems designed specifically for it, will allow users an instant, secure, and hopefully private, alternative method of exchange. There is no doubt that as private money resources expand, political currencies will come under pressure.

planetgold: What is the Crowne Gold system?

Sean:The Crowne Gold system is an Internet driven platform designed such that clients can buy and sell gold based on market prices, take delivery of gold via bullion or coin, or digitally transfer any part of their gold holdings to third-parties via a secure, encrypted, Internet payment system. Client holdings contained within the Crowne Gold system are held in high security vaults and regularly validated by external auditors as to their physical existence and are certified free of commercial liens of any kind. Crowne Gold provides a convenient method to hedge investments by owning gold while enabling them to use their investment as money via the Internet. Gold payment transfers may be initiated privately, instantly and securely from the convenience of any Internet ready computer, 24/7/365. Most importantly, the Crowne Gold system is 100% capitalized with bullion physical gold; .9999 fine.

planetgold: Where is the gold stored?

Sean: Crowne Gold currently contracts three vaults. All three are located within the United States to be easily assessable to external auditors, even though the primary principals are not US persons. Plans for 2003 are to expand vaulting arrangements to other global jurisdictions.

planetgold: What about gold delivery?

Sean: Crowne encourages clients to take delivery by offering beautifully designed one-ounce coins of .9999 fine gold that are immediately available. Crowne has also fabricated ten-ounce bars of .9999 fine gold. Kilo bars and 400-ounce bars are available for customer delivery but typically unwieldy so special instructions for shipment and insurance must accompany orders of gold in these magnitudes.

planetgold: What basic options does Crowne provide?

Sean:Those receiving digital gold in payment for a commodity, product or service, may hold their gold position for profit (expecting an increase in the spot price), use their gold account as an alternative form of instant payment via the use of email, opt out of the payment system by taking physical possession of their gold, or by selling their gold position on the spot market and taking payment in Euros or Dollars. When one sells the digitized gold they hold on account, payments in currency for sold gold may be conveyed by check, wire transfer or deposited to a debit card. All of these options now exist and can be accessed immediately right over the Internet. Plans are in progress to incorporate genius card technology in the near future.

planetgold: What are your fees?

Sean: Questions about fees are a bit like comparing apples and oranges; they aren’t the same and they rarely sell for the same price. For example, if I asked you how much a car costs, how could you answer the question without first discussing style, options, etc.? Obviously there are numerous things that set companies, products and services apart. Crowne’s fees are set forth on a schedule at the Crowne Gold web site. I refer your readers to www.crowne-gold.com for further information.

planetgold: Has Crowne Gold had, or have any fraud problems? Legal problems?

Sean: No and No.

planetgold: What is your relationship with others in the industry (e-gold, exchange providers, etc.)?

Sean:We look forward to building a mutually prosperous relationship with quality providers, brokers, merchants, newsletter writers, and referring partners, in addition to general users of the system at large. We are team players that believe there are major benefits to be had in trade associations and other types of group effort.

planetgold: What have been your greatest difficulties? Accomplishments?

Sean: Our greatest difficulties to date seem to have evolved around legal jurisdictions, funding, software, customer relations, and the training of support personnel. Since the merger, things have changed dramatically. There is now a whole new pool of resource personnel, funding, IT support, and considerable expertise in a host of specialties that will undoubtedly play a significant part in building Crowne Gold into a major player in the near future. Our greatest accomplishments are still in front of us, but we’ve come a long way in a short while and we have every reason to believe we are putting together the premier product in the industry.

planetgold: Where is Crowne Gold located and why?

Sean: 3P Gold was based in Dominica, West Indies. Their server was eventually located in Havenco, a secure international data haven. Crowne Gold has support facilities in four countries, but this may change over the next few months. Computer security and program integrity verses band-width and overall IT support has been a reoccurring topic of discussion.

server platforms are best based in secure offshore jurisdictions

It is our belief that server platforms are best based in secure offshore jurisdictions to ensure against over zealous governments from seizing client data and pursuing a fishing expedition in pursuit of their passion for citizen control. As you are aware, this has already happened to at least one company, which although formed in an offshore jurisdiction operates servers from within the U.S. Fortunately, client gold positions were not effected and the system continues to be robust and the company is a leader in digitizing gold but client information may be unprotected from predatory lawyers and government snoops.

At present Crowne’s primary server is based in Havenco with on-line backups to our own secure system in the Caribbean. Customer relations personnel are also based in the Caribbean and available during working hours by phone, fax, or email.

planetgold: What do you do to ensure customer privacy?

Sean: Crowne is a strong proponent of personal liberty and individual property rights, and history teaches us that the critical ingredient for freedom to survive is the right to personal privacy. However, this philosophical position must be balanced against the potential for the Crowne system to inadvertently become a conduit for facilitating illegal activities and, therefore, internal due-diligence procedures to protect the company and its clientele from this type of abuse have been developed.

Simply put, we are committed to the basic right for people everywhere to evoke privacy strategies to protect their families, their fortunes and their business activities; but if need be we will assist law enforcement on a case by case basis if convinced that a serious crime has taken place.

planetgold: So what’s your target market?

Sean: At the moment our target market consists of English speaking persons and Internet sales companies. No actual marketing efforts are yet underway but they should be shortly. Eventually we plan to focus on Spanish speaking jurisdictions, followed by China, Japan, India and the Middle East.

planetgold: What is Crowne Gold’s mission?

Sean:Crowne Gold has several primary goals contained within its mission statement, but simply put, it is to make available to anyone on the planet the ability to buy and sell gold and have immediate access to a secure, private, non-political, user-friendly, gold transfer payment system.

planetgold: How does Crowne Gold compare with other Digital Gold Currencies?

Sean:Crowne Gold holds on deposit only .9999 fine gold as contrasted to the US standard which is .995 fine. Of course, I cannot speak for other systems but in reading some of their terms and conditions it is unclear if others are providing this level of underwriting.

Crowne has allocated physical gold on deposit for every ounce of gold actually digitized within its system. Under typical unallocated metal account trading agreements, clients have a general entitlement to metal, and in effect are unsecured creditors. The concept regarding an undivided commodity pool is fine provided there is 100% gold to back the system. In some of the agreements I’ve read, it appears that the provider intends to get enough metal to cover their client accounts but are not actually required to have physical gold on hand to liquidate all client obligations at any given moment in time. This may not be the ultra secure position many gold buyers seek because if there is a serious up-tick in the gold market the window of vulnerability is open.

On the other hand, it is clear that unallocated gold purchases held on account through a commodities broker is the primary method by which gold is bought and traded worldwide. This is standard practice and it is the cheapest form of program to underwrite a gold payment system and it is easier to administer, which in turn allows for more competitive rates. At present, Crowne has opted for the most secure approach, which admittedly is the most expensive way to proceed.

Crowne expects to provide a level of client integrity unmatched in any other financial arena. Crowne Gold may be the only private money system which subjects itself to monthly external audits by certified public accountants. An especially neat feature of the Crowne pay system allows for double signature authorizations on a single account, a process that is now available for implementation by clients within their confidential client profile options. This option allows for transactions to be prepared by one party and validated by another regardless of how far apart the signing parties are.

There are client definable provisions for read-only access under development such that a business client’s accountant can validate gold balances for audit or tax reasons, and/or a client can allow a potential seller to confirm the buyer has adequate gold on hand prior to negotiating a deal.

An on-line currency converter is available to clients when making payments to third-parties such that one can quickly determine the value of any of 77 different currencies contrasted with any other currency including the spot price of gold, silver, etc.

planetgold: Has Crowne Gold received any correspondence from Gold Money, threatening legal action for patent infringement?

Sean: No comment.

planetgold: Thank you, Sean.

Sean:Ragnar, I want to thank you and Planet Gold for taking the time to allow Crowne Gold and I to introduce our wares to the world. I believe with the ongoing negative fiscal issues the world is experiencing, sound Gold and Silver based currencies will help reform our financially sick world.

–end of interview-

Whew! I hope you read the whole interview. Thank you for you attention!

Crowne Gold’s website: http://www.crowne-gold.com

Open up a Crowne Gold account by clicking here (by doing so you will be directly supporting this blog which is very much appreciated)

Quick Interview With the Founder of V-Money

Q. Hello will you please introduce yourself?

My name is Marco Lavanna , I am one of the shareholders of V-Money and also one of the directors. I also own and operate some trusted and well established exchange websites like www.goldex.net and www.paybygold.com

Q. What makes V-Money unique from other e-currencies?

We have a very easy user interface, low fees, a number of merchant tools and a huge experience in the market.

Q. Will you allow high yield investment programs and autosurfs to use V-Money as their payment processor?

We are incorporated and operate out of Panama which has no specific legislation restricting or prohibiting the activities you refer to. Some users in specific countries may want to make sure that THEIR legislation allows them to participate in such websites though.

Q. Can you give us a comment about the current E-gold fiasco?

I think EGold has done very much for this industry and the pressure on them has nothing to do with the reasons that are given to us, the general public. I trust they will continue their legal battle until the time their legitimacy will be recognized.

Q. Do you plan to release mass payment,automatic payment and shopping cart scripts to improve the merchants experience?

We already have a shopping cart and also an XML interface that allows to merchant to automate a number of tasks, down to balance checking

Q. In your opinion what makes V-Money.net the best e-currency?

We are a truly offshore operation, not just a shelf company, we have an office and staff in Panama, our servers are in Panama , and we hold a commercial license in Panama to process person to person and bill payments online. We have a huge experience in this arena via our exchange businesses.

Q Do you accept direct fundings from clients? No we don’t, we rely entirely on third party exchangers, including of course our own pre existing exchange operations, to move funds in and out of the VMoney system. The only exception will be an Electronic Mastercard which is being integrated into the VMoney backend and will allow users to withdraw funds directly from their VMoney account to the card. Q. Would you like to say something to our readers? We are working to adding EUR as a currency, as well as additional account security features. Also we would like to stress that VMoney has no link with jurisdictions that have strict legislations against our type of business, none of the directors is a citizen or a resident of such countries, no data is stored in such countries and no funds backing the system are kept in any such country.