Basics of Investing

Archive for November, 2009

Question: What is my best bet to convert E-Gold to cash now?

A few years ago e-gold was looked like the best currency ever.An investment in e-gold is attached to the value of gold and is actually stored in gold. So if the price of gold goes up after you bought some e-gold, so would the value of your investment. You would no longer have to worry about where the greenback was going.
Trading e-gold in the U.S. is presently halted due to orders of the U.S. Judicial Service in order to exclude money laundering allegations.

But I, as an investor, I’d like to get to the funds and use them for active investment elsewhere. I have contacted many sites that used to convert e-gold. Either they have totally discontinued it for the time being or conversion fees will range from 30% to 90% which I find outrageous.
Hence my question: What’s my best move to convert E-Gold to cash now?

Answer: I remember the hype, and I figured they would be wrong because gold is not a currency.

The USD is ALWAYS something to have a mental note. It is the currency of choice in the world. As the USD increases in value gold decreases in value.

You will not be able to access the funds until the feds are complete with their investigation.

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