Here is a paragraph from the e-gold blog, 2009-08-31.
PLEASE NOTE THAT IF CIP, CDD OR EDD INFORMATION IS REQUESTED, IT MUST BE PROVIDED BEFORE ANY INITIAL OR FURTHER TRANSACTIONAL ACTIVITY MAY BE PERMITTED. FAILURE TO PROVIDE ANY OF THE CIP, CDD, OR EDD INFORMATION WHEN REQUESTED COULD RESULT IN YOUR ACCOUNT BEING TREATED AS ABANDONED PROPERTY AND ESCHEATED TO GOVERNMENTAL AUTHORITIES OR FORFEITED TO THE US GOVERNMENT.Many e-gold account holders with small holdings are just going to say, "screw it", rather than jump through the hoops. If they do, e-gold is going to charge 10% or holdings per year, and/or turn over the accounts to the fascist U.S. government.
Even though many accounts are small, there are a lot of them. That is going to add up to a nice chunk of change for the next establishment bank/credit/financial "services" bailout.
"Account Size Range" and "No. of Accounts" are from the e-gold site statistics page (2009-10-04).
To see the charts below better formatted (easier-to-read), click here.
Chart 1
e-gold spot 2009-10-04 ~$1000.00
Account Size | # of Accts | Account Size - Troy Oz. | Avg Oz./Account
------------ | ---------- | ----------------------- | ---------------
0 mg - 10 mg | 4923 | 0 toz - 0.0003215075 toz | 0.0001286030 toz
10 mg - 100 mg | 38749 | 0.0003215075 toz - 0.003215075 toz | 0.001286030 toz
100 mg - 1 g | 129825 | 0.003215075 toz - 0.03215075 toz | 0.01286030 toz
1 g - 10 g | 98924 | 0.03215075 toz - 0.3215075 toz | 0.1286030 toz
10 g - 100 g | 20680 | 0.3215075 toz - 3.215075 toz | 1.286030 toz
100 g - 1 kg | 2185 | 3.215075 toz - 32.15075 toz | 12.86030 toz
1 kg - 10 kg | 163 | 32.15075 toz - 321.5075 toz | 128.6030 toz
10 kg - 100 kg | 9 | 321.5075 toz - 3215.075 toz | 1286.030 toz
100 kg - 1 Mg | 0
1 Mg - 10 Mg | 0
e-silver spot 2009-10-04 ~$16.10
Account Size | # of Accts | Account Size - Troy Oz. | Avg Oz./Account
------------ | ---------- | ----------------------- | ---------------
0 mg - 10 mg | 1 | 0 toz - 0.0003215075 toz | 0.0001286030 toz
10 mg - 100 mg | 1 | 0.0003215075 toz - 0.003215075 toz | 0.001286030 toz
100 mg - 1 g | 17 | 0.003215075 toz - 0.03215075 toz | 0.01286030 toz
1 g - 10 g | 199 | 0.03215075 toz - 0.3215075 toz | 0.1286030 toz
10 g - 100 g | 607 | 0.3215075 toz - 3.215075 toz | 1.286030 toz
100 g - 1 kg | 421 | 3.215075 toz - 32.15075 toz | 12.86030 toz
1 kg - 10 kg | 168 | 32.15075 toz - 321.5075 toz | 128.6030 toz
10 kg - 100 kg | 52 | 321.5075 toz - 3215.075 toz | 1286.030 toz
100 kg - 1 Mg | 4 | 3215.075 toz - 32150.75 toz |12860.30 toz
1 Mg - 10 Mg | 0
e-platinum spot 2009-10-04 ~$1280.00
Account Size | # of Accts | Account Size - Troy Oz. | Avg Oz./Account
------------ | ---------- | ----------------------- | ---------------
0 mg - 10 mg | 10 | 0 toz - 0.0003215075 toz | 0.0001286030 toz
10 mg - 100 mg | 62 | 0.0003215075 toz - 0.003215075 toz | 0.001286030 toz
100 mg - 1 g | 194 | 0.003215075 toz - 0.03215075 toz | 0.01286030 toz
1 g - 10 g | 204 | 0.03215075 toz - 0.3215075 toz | 0.1286030 toz
10 g - 100 g | 36 | 0.3215075 toz - 3.215075 toz | 1.286030 toz
100 g - 1 kg | 12 | 3.215075 toz - 32.15075 toz |12.86030 toz
1 kg - 10 kg | 2 | 32.15075 toz - 321.5075 toz | 128.6030 toz
10 kg - 100 kg | 0
100 kg - 1 Mg | 0
1 Mg - 10 Mg | 0
e-palladium spot 2009-10-04 ~$300.00
Account Size | # of Accts | Account Size - Troy Oz. | Avg Oz./Account
------------ | ---------- | ----------------------- | ---------------
0 mg - 10 mg | 6 | 0 toz - 0.0003215075 toz | 0.0001286030 toz
10 mg - 100 mg | 42 | 0.0003215075 toz - 0.003215075 toz | 0.001286030 toz
100 mg - 1 g | 173 | 0.003215075 toz - 0.03215075 toz | 0.01286030 toz
1 g - 10 g | 149 | 0.03215075 toz - 0.3215075 toz | 0.1286030 toz
10 g - 100 g | 35 | 0.3215075 toz - 3.215075 toz | 1.286030 toz
100 g - 1 kg | 21 | 3.215075 toz - 32.15075 toz | 12.86030 toz
1 kg - 10 kg | 2 | 32.15075 toz - 321.5075 toz | 128.6030 toz
10 kg - 100 kg | 0
100 kg - 1 Mg | 0
1 Mg - 10 Mg | 0
Chart 2
e-gold spot 2009-10-04 ~$1000.00
Account Size | # of Accts | Avg Oz./Acct | One Acct | All Accts | Cum Risk
------------ | ---------- | ------------ | -------- | --------- | --------
0 mg - 10 mg | 4923 | 0.0001286030 toz | $ 0.128603 | $ 633.10 | $ 633.10
10 mg - 100 mg | 38749 | 0.001286030 toz | $ 1.28603 | $ 49,832.38 | $ 50,465.48
100 mg - 1 g | 129825 | 0.01286030 toz | $ 12.8603 | $ 1,669,588.45 | $ 1,720,053.93
1 g - 10 g | 98924 | 0.1286030 toz | $ 128.603 | $ 12,721,923.17 | $ 14,441,977.10
10 g - 100 g | 20680 | 1.286030 toz | $ 1,286.03 | $ 26,595,100.40 | $ 41,037,077.50
100 g - 1 kg | 2185 | 12.86030 toz | $ 12,860.30 | $ 28,099,755.50 | $ 69,136,833.00
1 kg - 10 kg | 163 | 128.6030 toz | $ 128,603.00 | $ 20,962,289.00 | $ 90,099,122.00
10 kg - 100 kg | 9 | 1286.030 toz | $ 1,286,030.00 | $ 11,574,270.00 | $ 101,673,392.00
100 kg - 1 Mg | 0
1 Mg - 10 Mg | 0
e-silver spot 2009-10-04 ~$16.10
Account Size | # of Accts | Avg Oz./Acct | One Acct | All Accts | Cum Risk
------------ | ---------- | ------------ | -------- | --------- | --------
0 mg - 10 mg | 1 | 0.0001286030 toz | $ 0.0020705083 | $ 0.00 | $ 0.00
10 mg - 100 mg | 1 | 0.001286030 toz | $ 0.020705083 | $ 0.02 | $ 0.02
100 mg - 1 g | 17 | 0.01286030 toz | $ 0.20705083 | $ 3.52 | $ 3.54
1 g - 10 g | 199 | 0.1286030 toz | $ 2.0705083 | $ 412.03 | $ 415.57
10 g - 100 g | 607 | 1.286030 toz | $ 20.705083 | $ 12,567.99 | $ 12,983.56
100 g - 1 kg | 421 | 12.86030 toz | $ 207.05083 | $ 87,168.40 | $ 100,151.96
1 kg - 10 kg | 168 | 128.6030 toz | $ 2,070.5083 | $ 347,845.39 | $ 447,997.35
10 kg - 100 kg | 52 | 1286.030 toz | $ 20,705.083 | $ 1,076,664.32 | $ 1,524,661.67
100 kg - 1 Mg | 4 | 12860.30 toz | $ 207,050.83 | $ 828,203.32 | $ 2,352,864.99
1 Mg - 10 Mg | 0
e-platinum spot 2009-10-04 ~$1280.00
Account Size | # of Accts | Avg Oz./Acct | One Acct | All Accts | Cum Risk
------------ | ---------- | ------------ | -------- | --------- | --------
0 mg - 10 mg | 10 | 0.0001286030 toz | $ 0.16461184 | $ 1.65 | $ 1.65
10 mg - 100 mg | 62 | 0.001286030 toz | $ 1.6461184 | $ 102.06 | $ 103.71
100 mg - 1 g | 194 | 0.01286030 toz | $ 16.461184 | $ 3,193.47 | $ 3,297.18
1 g - 10 g | 204 | 0.1286030 toz | $ 164.61184 | $ 33,580.82 | $ 36,878.00
10 g - 100 g | 36 | 1.286030 toz | $ 1,646.1184 | $ 59,260.26 | $ 96,138.26
100 g - 1 kg | 12 | 12.86030 toz | $ 16,461.184 | $ 197,534.21 | $ 293,672.47
1 kg - 10 kg | 2 | 128.6030 toz | $ 164,611.84 | $ 329,223.68 | $ 622,896.15
10 kg - 100 kg | 0
100 kg - 1 Mg | 0
1 Mg - 10 Mg | 0
e-palladium spot 2009-10-04 ~$300.00
Account Size | # of Accts | Avg Oz./Acct | One Acct | All Accts | Cum Risk
------------ | ---------- | ------------ | -------- | --------- | --------
0 mg - 10 mg | 6 | 0.0001286030 toz | $ 0.0385809 | $ 0.23 | $ 0.23
10 mg - 100 mg | 42 | 0.001286030 toz | $ 0.385809 | $ 16.20 | $ 16.43
100 mg - 1 g | 173 | 0.01286030 toz | $ 3.85809 | $ 667.45 | $ 683.88
1 g - 10 g | 149 | 0.1286030 toz | $ 38.5809 | $ 5,748.55 | $ 6,432.43
10 g - 100 g | 35 | 1.286030 toz | $ 385.809 | $ 13,503.32 | $ 19,935.75
100 g - 1 kg | 21 | 12.86030 toz | $ 3,858.09 | $ 81,029.89 | $ 100,965.64
1 kg - 10 kg | 2 | 128.6030 toz | $ 38,580.90 | $ 77,161.80 | $ 178,127.44
10 kg - 100 kg | 0
100 kg - 1 Mg | 0
1 Mg - 10 Mg | 0
Comments
I am estimating the value by first taking a mean of each bracket. E.g., for the 1 g - 10 g bracket, I am assuming an average of 4 g (0.1286030 toz) to get an estimated "Average Ounces per Account".
Then I multiply that by the spot price to get an estimated "One Account $ Value".
Finally, I multiply that by the number of accounts to get the estimated "All Accounts $ Value"
Now, what is the likely amount of the e-gold/government "payday" as a result of most e-gold account holders not furnishing e-gold with the CIP, CDD or EDD information demanded?
I assume that almost all holders of accounts of less than $1,000 are going to just say "screw it", and forfeit their accounts.
Looking at the last columns "Cum Risk" (Cumulative Confiscation Amount Risk), I estimate the amount of forfeitures as follows (roughly):
e-gold $ 40,000,000
e-silver 200,000
e-platinum 60,000
e-palladium 40,000
------------
Total $ 40,300,000
Now, assuming many of those with less than $10,000 say "screw it". Say their threshhold is $5,000. My "seat of the pants" estimate of the forfeitures is:
e-gold $ 50,000,000
e-silver 500,000
e-platinum 100,000
e-palladium 100,000
------------
Total $ 50,700,000
Naturally, my estimates can be only rough guesses, given the information to work with. You have the numbers to come up with your own forfeiture estimates.
In any case, it is a substantial amount for e-gold account holders, and chump-change for the government. But, remember, money is only a minor consideration for the fascist U.S. government. It's all about control.
----------
For reference, here are some precious metals gram to ounce equivalent weights.
1 gram (gm) = 0.032 150 75 troy ounces (toz)
1 kilogram (kg) = 32.150 75 troy ounces (toz)
Posts
