Quote:
Originally Posted by allinvain
From my understanding E-gold ltd. (Nevis) is a completely separate entity, and in no way requires any EIN or anything like that. What the e-gold management did is they made a contract with G&SR Inc. (USA Corp) to manage the e-gold system. Therefore, it stands to reason that e-gold itself does NOT have any office in the United States, only G&SR Inc. does, and hence any sort of identification with the United States Government is required only of G&SR Inc.
I would not worry about anything happening with the e-gold since it pretty well structures. For more info check out their site where they discuss the "special-purpose Trust".
What I am concerned about is the fact that e-gold's servers are hosted on US soil. Hopefully it won't become necessary to move them offshore as that will further increase operating expenses for e-gold Ltd.
just my two e-gold backed cents
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You are absolutelly right regarding e-gold and G&SR, furthermore, e-gold at their begining back in the late 90s was based in the US but in 2002 or 2003 if I am correct they moved to Nevis leaving only G&SR in the States.
Your concern is also mine, because as e-gold servers are in the US these can be seized by the feds as they were on December 2005, what they did then was make copies of all the transactions, and I am sure that sooner or later e-gold will be forced to host outside the US to avoid intervention and goverment pressure.
Legisi's situation is different, he admits to have an office in the US and to operate in the US and it doesnt matter if he is trying to present his program as a "private loan", the type business he is conducting is considered a security and MUST have the SEC approval and license add to this that the website is hosted in the US and the domain also also registered in a US address, he MUST comply with the US legislation and he is not, so there is risk to face government intervention and their first act is always freeze the funds/accounts and after prosecute which is really bad for investors because after it takes several years to appoint a receiver and recover the left over funds.