:: News - E-gold Audit Report

About a month ago, e-gold Ltd. released an audit report detailing their exact amounts of precious metal stored in London and Dubai. The important information to note in this report is that every digital unit of e-metal circulating on the Internet including e-silver, e-platinum and e-palladium is 100% backed up by that amount value of precious metal in secure vaults.

This is enlightening to understand and here is why…

If tomorrow, every e-metal account holder decided to sell his or her digital currency, there is a corresponding amount of actual precious metal available to immediately liquidate and ensure those digital dollars quickly and easily convert into national currency.

An electronic copy (PDF document) of report is available here

In their report the independent auditing firm also details, over about a dozen pages, the actual precious metal bar numbers, their purity and issuer. If this was not enough, a quick visit to the e-gold web site ‘Examiner‘ page again shows how much precious metal is on hand at any time and their ‘Stats’ page shows all transactions and account balances for the previous 24 hour period!

It no secret how much precious metal e-gold Ltd. has in circulation. Its no mystery as to where its held. The exact weight of all bullion is recorded, audited and displayed at all times along with the entire activity for all accounts. That is pretty amazing for any financial company to openly disclose each day. I’ll give you a buffalo nickel if you can show me any other financial company on the Net that even comes close to this type of disclosure.

This practice is known as ‘being transparent’. Transparency means disclosing to the world all available assets and at all times guaranteeing that the digital currency, which so easily zaps around the globe, never gets issued without 100% backing. This financial transparency is very rare to find on the world today except in publicly traded companies. Virtually no one, volunteers these item and especially take the time and effort to update them daily for users and visitors to view.

e-gold Ltd. offers an extreme level of confidence & security for its account holders and that’s a reason why I consider today’s e-gold Ltd. to be one of the world’s greatest e-commerce innovations.

Digital Money World