Can someone explain to me how E-Gold works?

[deedubb]

What is E-Gold and how does it work?

I read some info from www.e-gold.com but its in swahili to me.

Also i ran across this site: http://www.internationalgoldtrust.com/invest.html but not sure how to tell if this is a scam. It sounds too good to be true, which usually means it is.

Im not very well versed with investing but if anyone has any info on this, it would be appreciated.

Thanks,

Dave

 

[NsXMas]

I'm not 100% sure but it looks like you put in money to own gold online, and then spend that gold virtually rather than any local currency. The advantage, I suppose, if there was one, is that gold intrinsically is worth some value.

The US dollar, for example, is not tied to the Gold or Silver, so it may theoretically become worthless due to inflation and/or US/world economic conditions, since it is just a promise from the US Government to pay the value of the dollar.

 

[queenlives]

What is E-Gold and how does it work?

I read some info from www.e-gold.com but its in swahili to me.

Also i ran across this site: http://www.internationalgoldtrust.com/invest.html but not sure how to tell if this is a scam. It sounds too good to be true, which usually means it is.

Im not very well versed with investing but if anyone has any info on this, it would be appreciated.

Thanks,

Dave

after rinsing both names through google (including "groups", which has many postings re questionable issues), then reviewing their sites, it seems to me you have great reason to be skeptical.

i think you're on the right track with "too good to be true" thinking/warning.
hal

 

[blackcat]

I read online at the FBI website that the Al queda used e gold to move money... The FBI went onto to say they had no way of tracking the money...
Pretty scary huh!!

I know some people who have used e gold with no problems though...

 

[deedubb]

Yeah, ive heard of a few people using it but never bothered to ask them about it. I hear about the e-gold guys having possible connections to terrorism when our own banks have well established histories of trading with enemies. Financial institutions of all levels in the hierarchy put profits ahead of anything else, including morals and nationalism. Thats whats scary.