Greetings everyone. I am back with another review. This one is geared towards those of you who are interested in e-currencies and trading gold-backed digital currencies. The name of the site that I am going to review is called Open2exhange (aka O2E). O2E is basically an e-currency bourse ("stock" exchange). It allows you to buy or sell your gold currencies on an open market 24/7. This will no doubt save you the hefty commission fees charges by most e-currency exchange businesses.
Now let's get into some commonly asked questions about Open2exchange (O2E).
How much is the membership fee?
Membership to Open2exchange is free.
How much are the brokerage fees?
Each time a trade is executed, Open2exchange automatically calculates a brokerage fee. This fee is exactly .40% of the value of the trade in if the trade is in PCX (Pecunix) and exactly .40% of the value of the trade if the trade is in any of the other supported Internet golds. This brokerage fee is divided equally between the buyer and the seller, so each party in the transaction pays 0.2% of the transaction value for PCX trades and 0.2% of the transaction value for the others.
How do I add funds to my account?
You can fund your account directly with e-gold, Pecunix, Webmoney Gold (WMG) or Loomster O2E-$. Open2Exchange does not accept ANY direct national currency funding. No account holder can withdraw national currency directly from Open2Exchange, its not possible. USD account withdrawals can be done via Loomster O2E-$. Example: If you have $100USD you can withdraw it and receive 100 O2E-$ on the Loomster system. To fund your account with digital currencies other than those we accept, please visit an exchange agent and convert to an accepted digital currency. Open2Exchange is not an exchange agent and does not sell digital currency.
Does Open2exchange protect my privacy?
Open2exchange will never divulge any of your information to any third party without a court order from a court of suitable jurisdiction. All your information in the Open2exchange database is encrypted with extremely strong AES encryption to ensure your protection.
Why can't I cash out my balance of gold?
For security reasons, we only allow your account to cash out to your verified gold account. To load your verified gold account into the Open2exchange system, simply upload some gold from your gold account to the Open2exchange account using the "balances" page. Once you have uploaded gold, your account number will be saved by the Open2exchange system and all future cashouts will be made to that account.
Do I pay the brokerage fee if I cancel an open trade?
No, brokerage is only charged by the exchange as a trade is closed.
In addition to offering you the ability to trade digital gold currencies you can also exchange between e-gold and pecunix as well as exchange between metals (such as e-gold silver, palladium, platinum, etc).
To join this innovative site simply click on any of the Open2exchange links dispersed throughout this review (all of link open up in a new window)
I hope this site will be of service to you and I'd like to thank you for visiting my blog. Take care!
Aug 11, 2007
Review: Open2exchange P2P Gold Exchange
Update from PPREI admin
Here is the latest update from the PPREI Admin crew. For those of you who had concerns (like me) that they took off and ran, well, this should quell those concerns; for now..lol just kidding :) your money is safe. Take care everyone.
Resend of earlier email update just to let you know we are still working on it.
Hello
How are you?
You may notice that the PPREI site has been unavailable. This is because we are updating to the new site. Unfortunately we have to manually move over all invested amounts as the 2 sites are not compatible and as such we cannot move the details from the old site to the new site automatically.
This being said, please watch for the new site and a new email once it is online by the first part of next week (I am shooting for Tuesday).
As for those that have previously been paying monthly into the Early Bird plan.......We will now be accepting wires directly to us as well as Ebullion and PayPal. More details on how the move from FriendlyPay to these will work next week.
Thank you kindly
Aug 10, 2007
Attention savers: Achieva Financial has increased their interest rate
Good day my fellow Canadians. Yes, sorry, this post is targeted to Canadian citizens who are interested in high-interest savings accounts. I just learned that Achieva Financial (one of the banks that I reviewed here) has increased the interest rate on their savings account to 4.35% (per annum).
However Achieva still does not have the highest interest rate of any Canadian bank. For that you're going to have to look to ICICI Bank Canada who offers a rate of 4.50%. If you are interested in opening up an account with ICICI Bank Canada and you want to get $20 free then e-mail and I'll send you a special invitation.
That's all for now. Take care everyone, and thanks for taking the time to read my blog.
Aug 9, 2007
Legisi hits the wall, e-gold accounts seized
A very popular online investment club called "Legisi" has just "hit the wall". Check out this post from the No BS HYIP Blog for further information.
Okay guys, this is it.
Legisi had most of their e-gold seized on April 2007 *before* they went private.
Greg lied to his investors, he told them nothing and still accepted their money while going private. For those hoping to get their hard earned cash out of Legisi. Tough luck, you wont.
Total amount seized - over $1.7 MILLION dollars.
I knew it. Legisi was too good to be true. How many more of these scammers have to show up, before people learn their lesson?
Sources : Talkgold, Cattyshaq, Clifton
For more detailed info you might also want to check out the following links:
http://www.scam.com/showthread.php?t=19811&page=1&pp=40
Federal District Court Filings & Dockets
Also check out this post on the scam.com website (post 39 in the Legisi thread)
Here is some particularly damning wording court case documents:
The transaction history shows that, while there were some payments out to investors (generally in the tens to hundreds of dollars), the vast majority of funds were simply taken out of the account for use by McKnight.Not cool at all. The moral of the story should be obvious to all.
Approximately 5440.90856 grams ($3,443,852.80) was exchanged out for national currency through Omnipay orThe Bullion Exchange. Another e-gold account, number 2828872 in the name of “LIDO Consulting LLC” and also controlled by McKnight, received 892.133009 grams ($550,000) from account 2636005.
Better Money
The trademarked slogan "Better Money" is displayed on the homepage of the e-gold site. As best I recall, I came up with that one myself. In making this claim my intent was (and is) to stimulate thinking and discourse along the lines of "In what way(s) can one brand of money be better than another?"
Thinking back, the logic for what I'm going to say next derived from an essay I read in '97 or '98 by Antal Fekete. I just now tracked it down again and it is still online. I haven't re-read it again in detail so I don't want to imply I agree with everything it says though on a quick scan it still looks pretty worthwhile.
Fekete described money as "a transmitter of value through space and time…with the least possible loss". Transmission of value through time correlates to money's role as a store of value. Transmission through space is a reference to money's usefulness as a medium of indirect exchange, that is, a means of effecting payment. It looks to me like he meant or was emphasizing physical space, distance.
I prefer to think of the space part as transaction space, where value is conveyed from a payer to the recipient of payment, a change of ownership or entitlement.
So how can one brand of money be better than another?
Money that does not lose its exchange value over time - relative to goods and services, relative to other brands of money - would generally be better than money that did. I say generally because, as with most propositions, there are exceptions -circumstances where some participants in a money economy stand to gain from a decline in exchange value. There are also circumstances where an increase in exchange value can be disruptive, creating winners and losers. At some point I hope to expand on this. It ties into (among other topics) discussions on balance of payments, an area where e-gold or any globally oriented and designed currency can alter or invalidate existing paradigms in an interesting way.
e-gold's performance as a store of value perfectly mirrors physical gold since it is backed at all times by a 100% reserve. For present discussion purposes, suffice it to say that gold has a long track record of being ascribed exchange value and is unlikely to become worthless pending very significant advances in physics. [There is, by the way, a provision in the e-gold Account User Agreement that could be triggered in a circumstance where gold is no longer scarce in an economically meaningful way.]
How about the other dimension - preservation of value across transaction space?
In the long run, which I define as the post-transitional phase after e-gold has been embraced by mainstream institutions and is fully integrated into banking/payments/financial arrangements, many payment mechanisms will be unaffected. A credit card transaction will be a credit card transaction regardless of whether the payables or receivables are due in GBP, USD or AUG.
There are two payment scenarios though where e-gold can offer unique advantages, something better, than what is possible with legacy brands or money.
The first case is direct acceptance of e-gold, as it currently exists, for payments over the Internet.There is not a single entity that currently accepts payment online who would not stand to reduce their costs and extend their market reach by adding e-gold as an alternative, additional option. e-gold is the only truly global payment platform. An online retail merchant can accept e-gold from anyone anywhere at extreme low direct cost, with immediate settlement and no risk of payment reversal (chargeback) even if the payer has no plastic, no credit history, even if they are unbanked altogether.
The direct cost issue is significant. Imagine a large retailer selling computers online and accepting plastic. The fee for accepting a credit card payment for a $2,000 computer may be higher than $20. The fee for receiving the same value in e-gold would be e-gold's maximum Spend fee - 5 gold cents, that is, 5 cg of e-gold, equivalent at current exchange rates to less than $1.20.
For the recipient of payments using a credit card intermediary such as PayPal or Neteller, the differential is even wider. The payment processing fees for these services must incorporate the full credit card fee (since that is how a payment is usually "funded") and add a further markup to cover their costs of adjudicating disputes such as when (as is not uncommon) they suck payments back from recipients. For every $1 million of payments processed via PayPal [eBay/PayPal uses the term Total Payment Volume or "TPV"], PayPal extracts over $38,000 in revenue. PayPal's revenue, of course, constitutes the expense of their users. With e-gold, in contrast, for every $1 million worth of velocity, the system deducts Spend fees totaling about $2,000 worth - one nineteenth as much. Both of these pale, though, compared to the vig that Neteller extracts, $138,000 per every $1 million "receipted", more than 65 times the fees e-gold charges. Youch!
The second case where e-gold can afford benefits unachievable with any other currency relates to its function as a settlement platform. The truly unique and unprecedented characteristic of e-gold is not that it is digital, or tied to gold, or online. It is the fact that end users can directly access the settlement platform... without going through any financial intermediary. To tell this story though requires a clear understanding of the role of liability in monetary arrangements.
PPREI (Paradise Properties Real Estate Investments) website is down
Hmmm, it appears that the PPREI website is down and has been down for quite a few days now. The last update I heard from the admin (Rupert) was on the PPREI forum where he mentioned something about bringing the new website online. Well, it has been a while and I don't see why it could be taking so long just to bring online their supposedly new website. If anyone has any information about what is going on please get in touch with me. Thanks.
Aug 7, 2007
FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution
This Telly Award-winning documentary, which features presidential candidate RON PAUL, was inspired by the book, "The Creature From Jekyll ... all » Island" by well-known author, G. EDWARD GRIFFIN.
Find out why some feel the Federal Reserve's practices are a violation of the U.S. Constitution and others feel it's simply "a bunch of organized crooks." Discover why experts agree the Fed is a banking cartel that benefits mainly bankers and their corporate clients as well as a Congress that would rather increase the National Debt to $9 trillion than raise taxes. Find out how the corporate media facilitates the partnership between the Fed and Congress and why it fails to disclose what's going on. Lastly, find out how the Federal Reserve member banks are owned and controlled by an elite group of insiders.
Produced by attorney William L. Van Alen, Jr., (cousin to John Jacob Astor IV), this 1-hour documentary is a co-production between Matrixx Productions and Cornerstone Entertainment. In addition to interviews by G. Edward Griffin and Congressman Ron Paul (R-Texas), FIAT EMPIRE features interviews with media expert/MOVIEGUIDE Founder, DR. TED BAEHR, as well as constitutional attorney, EDWIN VIEIRA, Ph.D., (with four degrees from Harvard). FIAT EMPIRE was written and directed by Hollywood filmmaker, James Jaeger, and narrated by Kris Chandler with music by Jack Rooney. Associate producers are Ted Pollard (author and former Commissioner of Radnor Township); James E. Ewart (well-known author of MONEY) and Kenneth Gullekson (formerly with DISNEY).
Aug 6, 2007
More money related jokes :) Enjoy!
"Did you know I've taken up a career as an author?"
"Have you sold anything?"
"Yes, my TV, my car and my watch!"
Statistics prove that the best time to buy anything is a year ago!
The shortest measurable interval of time is that between when you put away some money for an emergency, and the arrival of the emergency.
In order to get a loan, you first need to prove that you don't need it.
The world's best salesman is the one who sold two milking machines to a farmer with one cow, and then accepted the cow as down payment.
Two holidaymakers at the Great Barrier Reef were chatting. One said, "I'm here on insurance money. I got $10,000 for fire damage." The other replied, "So am I, but I got $50,000 for flood damage." The first one thought a while and then said, "Tell me, how do you start a flood?"
Housewife: "Inflation is terrible! I just went to the supermarket and put a down-payment on a ham!"
A good citizen should pay his taxes with a smile, but the government always insists on money...
"I see your previous boss says you were a real live wire salesman. I'm pleased to know that! What were you selling?" "Live wires, sir!"
"There's only one honest way to make money. Only one." "What is it?" "I thought you wouldn't know it!!!"
A real penny pincher went into a church and put a five cent piece in the offering. One the way home, he was caught in a rain storm, so he crawled into a hollow log. The rain and his wet clothes made the wood swell, and soon he was stuck fast. Scared, he started thinking about his sins. Finally he remembered the five-center in the offering. That thought made him feel so small that he slipped out of the log and went home.
Two unionists were passing a construction site and observed a backhoe bulldozer hard at work. One said to the other, "That horrible machine! If it wasn't there, six men with shovels could be on that job!"
The other one replied, "And if it weren't for your six shovels, 200 men with teaspoons could be at it!"
The tribal wisdom of the Dakota Indians, passed on from one generation to the next, says that when you discover you are riding a dead horse, the best strategy is to dismount. However, in modern business, because of the heavy investment factors to be taken into consideration, often other strategies have to be tried with dead horses, including the following:
- Buying a stronger whip.
- Changing riders.
- Threatening the horse with termination.
- Appointing a committee to study the horse.
- Arranging to visit other sites to see how they ride dead horses.
- Lowering the standards so that dead horses can be included.
- Appointing an intervention team to reanimate the dead horse.
- Creating a training session to increase the rider's load share.
- Reclassifying the dead horse as living-impaired.
- Change the form so that it reads: "This horse is not dead."
- Hire outside contractors to ride the dead horse.
- Harness several dead horses together for increased speed.
- Donate the dead horse to a recognized charity, thereby deducting its full original cost.
- Providing additional funding to increase the horse's performance.
- Do a time management study to see if lighter riders would improve productivity.
- Purchase an after-market product to make dead horses run faster.
- Declare that a dead horse has lower overhead and therefore performs better.
- Form a quality focus group to find profitable uses for dead horses.
- Rewrite the expected performance requirements for horses.
- Promote the dead horse to a supervisory position.
It's not hard to meet expenses, they're everywhere.
I started with nothing, and I still have most of it left.
A lottery is a tax on people who are bad at probability.
A very successful businessman was out of town, residing in the best 5-star hotel in the city. To his horror, he was treated as just "another customer". Determined to show his great riches and importance, he loudly requested the waiter to bring him $100 worth of bacon and eggs for breakfast. The waiter realised he needed a wake-up call and replied (for all in the room to hear), "Sorry sir, we don't serve half portions!"
"Stick 'em down! One false move and I'll blow my brains out!" "Don't you mean Stick 'em up?" "No wonder I'm losing money..."
Executive: Someone who believes in sharing the credit with the one who did the work.
"I'm looking for someone to lend me $50." "You've got a nice day for it!"
Who's afraid of the depression? I've failed in boom times!
The best way to make ends meet is to get off your own.
"What? $1000 for that antique? But you only wanted $450 for it last week!" "You know how the cost of labour and materials keeps going up!"
Business is so bad that the bankruptcy court has opened a drive-in window!
Is it true that income tax is a form of capital punishment?
I owe a fortune, but I'm still not unhappy. Think how bad it would be to be one of my creditors!
Crook: a business rival who has just left the room.
A local idiot was constantly teased by being offered a 10c coin or a 20c coin. He always chose the ten-center. When asked why, he said, "If I ever pick the big one, they'll stop offering!"
Money isn't everything - there are also stocks, bonds, letters of credit, traveller's cheques, drafts, ...
After 40 years of hard work, he retired with $9,000,000, which he had gained through courage, diligence, initiative, skill, devotion to duty, thrift, efficiency, shrewd investment, and the death of an uncle who left him $8,999,999.50.
"My dad writes a couple of lines, calls it a poem, and gets $50 for it!"
"My dad writes a few squiggles on lines, calls it a song, and gets $75 for it!"
"My dad reads a sermon from a pulpit, and it takes four deacons to collect the money!"
I have enough money to last me the rest of my life - unless I buy anything!
