Durban Deep beteiligt sich an GoldMoney, dem zweitgrößten Anbieter (nach e-gold) von digitalem Gold als internationalem Zahlungsmittel . Dear Friend of GATA and Gold: Here's some news showing growing recognition of the potential of the private remonetization of gold: Durban Roodeport Deep's acquisition of a share of GATA consultant James Turk's GoldMoney.com. The only thing wrong here is that the press release and news stories about the transaction calculated its costs in dollars rather than goldgrams. It often is said that gold doesn't pay interest. (Gold's advocates reply that gold doesn't pay interest because, being close to free of risk, it doesn't have to.) But this is no longer correct or relevant. Today what doesn't pay interest is the U.S. dollar. Consider the GATA supporter who has had a U.S. retirement savings account (401-k plan) with a balance of more than $100,000, held in the plan's money-market fund. For a year he complained that the plan's manager did not provide the option of a precious metals or mining stock fund. And then last year his annual account statement showed that the fund's management fee for his account, a fee that was not at all out of line, exceeded what his account had earned in interest, U.S. money-market fund interest rates being so low, below even the acknowledged inflation rate. That is, he was actually LOSING money by saving it in U.S. dollars -- not to mention the continuing devaluation of the dollar against foreign currencies, which has exceeded 20 percent in the last year. So last year he stopped contributing to his retirement savings plan and opened an account -- they call it a "holding" -- at GoldMoney, arranging for GoldMoney to debit his checking account by $100 per month to buy gold as a form of regular savings in gold. Thanks to gold's steady appreciation in dollars, within eight months, starting from scratch, he had gained more value on $800 in his GoldMoney holding than he had earned on more than $100,000 in his retirement savings plan's money-market fund. This GATA supporter can't be the only person in the United States noticing the devaluation of the dollar in very practical terms and looking for an alternative currency and savings vehicle. This would seem to be the future of the gold and silver industry ... if, that is, the industry can get its nose out of the ground long enough to want a future, as GoldMoney and Durban Deep plainly do. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. * * * http://biz.yahoo.com/djus/040126/0825000742_2.html South Africa's Durban Deep Takes Stake In Internet Company JOHANNESBURG, Jan. 26 (Dow Jones) -- Gold miner Durban Roodepoort Deep Ltd. said Monday it has paid $200,000 to take an initial 1.4 percent stake in GoldMoney.com, an Internet-based gold marketing company. In a statement, DRD, which mines around 1 million ounces of gold a year, said it has an option to increase its stake to 14.3 percent of the company for a total investment of $2 million. GoldMoney, launched by James Turk, has around 10,000 customers globally and holds around 30,000 ounces of gold in storage for them. Through GoldMoney, gold is stored in vaults but only units of account called goldgrams are exchanged. A goldgram represents a buyer's ownership of a portion of gold held for GoldMoney customers in a secure vault. GoldMoney's servers keep track of purchasers' ownership of goldgrams and the gold held is insured by Lloyds of London. "We look forward to growing our association with GoldMoney," said Ian Murray, DRD's chief executive. He said the GoldMoney's services should gain more prominence as international markets seek alternatives to the dollar as the currency for international trade. GoldMoney's Turk said gold is not only a metal but is becoming a form of currency."We believe there is huge potential for gold to be used for low-cost online payments worldwide as people are now doing with GoldMoney," said Turk. "Using gold in this way will increase its demand to the benefit of the industry." * * * http://biz.yahoo.com/rm/040126/minerals_drd_goldmoney_1.html Durban Deep invests in online gold firm JOHANNESBURG, Jan. 26 (Reuters) -- South African gold producer Durban Roodpoort Deep said on Monday it had bought a stake in online trading firm GoldMoney.com, which enables investors to buy and sell gold or purchase other items using it. DRD said it had bought a 1.4 percent stake in GoldMoney for $200,000 and had the option to buy more later. GoldMoney offers a market in so-called goldgrams -- which represent a gram of pure gold held by the firm -- and can be transferred online instantly. Gold is traditionally seen as a store of value in times of economic insecurity and is currently offering attractive returns in dollar terms as the U.S. currency sags. "We see gold not only as a metal but also as a form of currency," GoldMoney founder James Turk said in a statement. "We believe there is huge potential for gold to be used for more low-cost online payments." DRD said its initial investment in GoldMoney included an option to increase its stake to $2 million or 14.3 percent of the firm at a later stage. ----------------------------------------------------
