[Webfunds-users] Re: WebFunds-Users digest, Vol 1 #93 - 1 msg

Tue, 06 Feb 2001 11:20:00 -0500

The main reasons DigiGold Ltd., e-gold Ltd, and Standard Reserve Inc. are
attempting to introduce AUG (AGG, PTG, PDG) - interpreted as grams of fine
content (100% purity) -  into standard usage and eventual inclusion into ISO in
recognition of their (then) de facto use as standards are:
1) the X _ _ ones seem to be or somehow relate to oz troy, which is not a
decimal unit. It is awkward and silly to speak of centiounces Troy and
milliounces Troy, whereas centigrams and milligrams are standard and well
understood units,

2) the exchange value of XAU 1 is an order of magnitude or two greater than the
legacy ISO currencies. A Big Mac would currently cost about 20 gold cents
(AUG 0.200) which somehow seems less difficult than being 6 milliounces Troy
(XAU 0.006 ?)

The ISO doesn't really matter much in this regard. What will matter more will be
financial institutions rendering their statements regarding deposits and
other financial contracts in terms of AUG. Even however if they elect to use
some other weight unit, all the weight units have stable conversion factors.

It has been said that AUG originated as a marketing strategem. Nothing, however,
could be further from the truth. It came as a direct revelation from GOD.
Instructions (paraphrased above) were found inscribed in stone tablets unearthed
in Abysinnia and decrypted by means of magic brute force spectacles.

Doug
(his messenger)

ps - whatever XAU is, Kitco indicates it's currently 47.39, down 1.21