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GOLDMONEY USES A.C.H.
ACH is the "automated
clearing house" of the US banking system, and GoldMoney is now tied
into it (it is also tied into the Canadian equivalent, and the UK
tie-in will be made later this year -- with other countries to
follow). It provides a very practical way to use gold.
GoldMoney customers now
have an easy and inexpensive way to exchange gold for dollars
(customers exchange their goldgrams for dollars at the prevailing
spot rate with no fee). This means that it is now easy to keep
one's liquidity (i.e., what one normally carries in their bank
balance) in goldgrams instead of dollars, which is what I do. When
I need dollars, I log into my GoldMoney account and instruct the
sale of, say for example, $50 worth of goldgrams. I get $50 at the
spot rate, and the $50 appears in my checking account the next
morning and with no fee. Large transactions are handled the same
way -- one exchanges their gold for dollars at the spot rate
prevailing at the time of the exchange and with no fee.
It appears that James
Turk really is creating an alternative to the dying dollar and
banking system. This perfects the interface between GoldMoney and
the fiat banking system. Yet another reason to open a
GoldMoney account at
www.goldmoney.com. – F. Sanders
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