This isn’t going to be much of a post but I thought I would share the data.

E-gold was raided by the State.  It was facilitating trades between people using gold and silver money to avoid theft of their purchasing power through inflation.  Some might have been using it to escape theft from taxation as well, although some may have reported their earnings this way.  I think reporting it would have been stupid, but to each their own.

I asked e-gold a while ago to provide me a summary of the rate of new accounts opening.  To my surprise, they sent it cheerily to me!  I sum it up for you here:

  • 1997    525
  • 1998    956
  • 1999    9,771
  • 2000    122,869
  • 2001    206,482
  • 2002    261,804
  • 2003    458,762
  • 2004    652,657
  • 2005    891,974
  • 2006    1,212,778
  • 2007    1,135,850

What I don’t know is (a) if all people used these accounts they opened or let them go dormant, or (b) how much gold and silver was traded between people or (c) the velocity of the trades, but it is a crude indicator of interest level.  I stupidly neglected to ask them for that information too, but I really thought theu were going to ignore my email, or think I was an agent of the State if I asked for all of the detailed information.

The statistics page at e-gold is here.  As of this post, they currently have 5,140,158 accounts opened, but only 1,982,344 are funded with gold, 687,769 with silver, 5,734, with platinum, and 199,550 with palladium.  An account may hold more than one metal, but it sure doesn’t add up to 5.1 million.

Dollars to donuts, alot of account holders probably vacated once they were raided by the State.  This is what happens when people try and preserve their wealth by trading outside the taxation/inflation system we are all slaves to.  However, the State pitches it as “OMFG!  Oh noes!  This is a haven for criminals and terrorists!  Or maybe even child pornography rings! We has to gets ’em!”