E-gold and Bullion Vault news…

This week two companies that have dealings in gold were in the news. Firstly it seems that the US Government in their tireless crusade to put a strait jacket on every one of their citizens has filed an injunction against the principals of 1mdc that is a partner company of e-gold. It seems that the US Government has forced e-gold to block all 1mdc accounts. It’s still not totally clear what further steps will be taken but it is hoped that as the courts re-open on Monday more will be known.

As of this post the e-gold site is functioning normally although several companies have instigated a freeze on transactions with the e-currency provider. As typically happens when something of this nature occurs many people jump on the bandwagon of speculation and forsee a dire future for companies such as e-gold. Personally I would rather wait and learn exactly what allegations are being made and the evidence for them. I was heartened to see a similar approach being taken on the informative No BS HYIP where Jude the owner has posted what I believe to be a considered and thoughtful view on the matter. If only others could be so reasoned.

It seems clear to me that the US Government is trying as hard as possible to restrict freedom of choice for its citizens whilst at the same time putting up a shield of justification against wrong doers. I’m all for catching the bad guy but not at the expense of millions of hard working people.

The second gold related company in the news this week is Bullion Vault whose CEO Paul Tustain advised members that they are re-locating their bullion deposits from Brinks Inc to a Swiss company, Viamat. The company has been around for 62 years and performs many of the same gold bullion related tasks in Switzerland that Brinks Inc does in the US. Whilst no specific reason was given for why Brinks Inc no longer want Bullion Vault business the change is seen as positive as it removes focus from a US based company to a Swiss based one.

This does not mean to say that members can’t still have their gold stored in the US as Viamat have facilities there as well. Personally I’m quite happy to stay far away from any US involvement so am happy about the change.

CEP Closing Today…

Well it’s 01 March and Colon End Parenthesis (CEP) are beginning to push that door closed to new members as I write. If you’re lucky you will just make it.

I appreciated a comment from Hema of the Make Your Money Grow blog who warned me to be careful in putting money with CEP as they felt that the return of 2% a day is unsustainable. The way I look at this is that I’ve been burnt badly in the past and so I fully appreciate that a program like this does carry risk.

In fact I was somewhat disturbed to read at the CEP Forum that a prospective member was asking whether they should take out a loan to invest in the program. From the rest of their post it was clear that they had very little money available to them and they thought that this would be a way to solve all their problems.

In this sort of situation I would definitely advise against anyone in taking such a course of action. It doesn’t matter a jot how honest a program admin might be as in many cases programs have run into serious trouble due to external problems. It has to be realised that any online program carries a higher degree of risk than many main stream bank deposits for example.

The higher risk does bring with it the potential for higher reward but no-one can forsee the future, so whilst it’s probably boring to read it again it is imperative that if you are considering an online investment you should never invest more than you can afford to lose. So, don’t risk the rent money, the mortgage payment, money for food, money for your children or any other essential payments that you need to make to stay solvent.

I have invested with CEP and I strongly recommend that you do too but only with what you can realistically afford. And, if you’re not quick the temptation will be gone anyway…so perhaps it won’t matter!

Time slipping away…

Time seems to be flashing past at the moment. I just wanted to remind people that Colon End Parenthesis (CEP) closes it’s doors to new members on February 28th (less than a week away!). Just to remind people the site pays 2% a day on two plans. Plan 1 lasts for 365 days with a minimum deposit of $20 and Plan 2 lasts for 180 days, again minimum initial investment is $20.

You need to join Plan 1 before you will be allowed to join Plan 2 but once a member further upgrades can be purchased for $5 each.

One thing you must remember is that payments can only be made through a CEP Trust account but this is not difficult to set up. As I mentioned in the latest news section CEP Trust are now only charging 1 cent for transfers from E-gold for the foreseeable future so you don’t have much of a penalty when bringing funds across. The company has also decided to waive fees on cheques (or checks if you talk US) from today until the 15th March so another way of funding at minimal cost.

If you want to learn more about the plan then take a look at the CEP Forum where you will find much healthy debate and useful information.

DON’T FORGET FEBRUARY 28th IS THE LAST DAY TO SIGN UP…