Quote:
Originally Posted by readtheads
Those are far from good news.
What are we supposed to do with our debts to the members if e-gold shuts down?
(when I say "we" I mean admins of HYIPs and various money-making programs)
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I'm not an admin, and at the moment e-gold seems to be hanging in there, with business as usual, but you're right, who knows for how long?
Dr Jackson's statement that the cash (about 1.5 million) frozen by the Feds represents the bulk of e-gold's cash assets is of concern.
I don't think the e-gold members' funds are at long term risk, as purportedly those are backed by physical e-gold (3.5 metric tonnes of gold, according to the e-gold website.) But things could sure get held up for a long time while government processes operate.
At this point, it appears that admins still have time to put a contingency plan in place, such as using another payment processor in addition to e-gold, and should make sure they don't keep all their eggs in the e-gold basket, as that could spell trouble. Just my take.
HeyJude